LONDON WOOL SALES.

Otago Witness, Issue 3396, 16 April 1919, Page 20

LONDON WOOL SALES.

S (P»B UXITHD PHJSHS ASSOOIATIO».) WELLINGTON, April 11. A cablegram received from the Director of Raw Material at the War Office, London, under date sth April, says : The auction sales opened on Wednesday. There was a record attendance, including representatives from France and Belgium. Confidence quickly manifested itself, and competition for all good wools was lively from-the outset. Faulty descriptions were not so much in favour, owing to the relatively higher conversion cost as compared with the better sorts. Still, even with less competition, practically everything haa passed the hammer to date. The result so fax is that, compared with the fixed issue prices in force before the revision, low crossbreds are back to par and all qualities above average fully per cent, higher. Different descriptions compared with that level may be quoted as follows : Good merinos, 5_ per cent, dearer, average per cent., faulty par; fifty-sixes and fifty-eights, 5 per cent, dearer; super fortysixes to fifties, 2£ per cent.; ordinary forty-sixes and below, par. s (By Cable;) LONDON, April 3. The first open wool sale for two -years attracted everybody connected with the trade. The saleroom was thronged to its utmost capacity, and buyers had literally to fight their way to seats. The spectators included numerous Australian and New Zealand soldiers who are undergoing a wool course at Bradford, and they were very much interested in the sale, which was very protracted, owing to farthing bids. Many buyers would prefer penny advances till above 20 pence. April 8. Wool continues to sell at high prices. French buyers are operating heavily. Firmness is maintained, and there are no signs of easing. New Zealand unsecured crossbred brought the average being 36d. The wool market continues firm, with keen French competition. Prices are still maintained at or over opening rates. The Gear clip realised up to 38£d, averaging 33£d. The Bradford tops market is active, J (rices advancing all round, particularly or merinos and fine crossbreds. NEW YORK, April. 7. The New York Times Washington correspondent says: ;At the instance of Senator King, the American representative at Paris will be asked to take up with the British Government the question of temporarily stabilising wool prices in Allied countries, the purpose being to protect American wool-growers until the present clip is marketed. It is reported that Britain has several billion pounds of wooj available foT marketing. An agreement will be sought to prevent its being placed on the market at one time or in sufficient quantities to depress prices. PARIS, April 8. The French Director of Raw Materials is proceeding to London to urge a larger allocataion of colonial wool to relieve the woollen industry in Northern France.