WOOL SALES.

Pahiatua Herald, Volume XXVI, Issue 2789, 28 May 1921, Page 5

WOOL SALES.

BIG- rAI PROV KAIEN T. Electric Telegraph—Press Association Copyright. (Australian-N.Z. Cable Association.) Adelaide, Last Night. At the wool sales competition was keen, and the market improved from ten to fifteen per cent. Capetown, Alay 26. Before departing for London, tlie Premier announced that owing to tho difficulties which, had arisen over the proposal to sell this season’s wool clip to the British Government, and in view of the financial situation, he had come to the conclusion that it would be necessary, in order to assist producers, to revive the scheme that was in -operation before; the vat l , under which the banks, with a Government guarantee, will make advances ori the wool. General Smuts added that wool and mohair fanners would bo entitled to an advance up to fifty jx*r cent, of pre-war prices, which would enable them to tide over the financial depression. He praised the liberality of tho banks, which had agreed to accept six and a-haif per cent, intev*est. He had impressed on the banks the grave necessity. owing to the present crisis;, of not contracting ereuit too much.

THE HOME MARKET.

London Alay 26.

Bradford wool showed a good tone, but lack of coal is restricting business; sixty-fours brought 3s od, fiftysixes 2s Id, forties Is 9d. Wheat is quiet, but firm, Australian passage parcels sold 74s Od to 755. Flour is slow, Australian arrived per Port Stephen is selling at 63s 6cl ex-store. Barley is quiet, no Australian is offering. Oafs are firm, New Zealand ex-quay 44s 6d to 48s. Beans ami peas are quiet, but rather easier. Sugar is unchanged. Bufiter is firm. Danish about 220, New Zealand is selling well at late prices; Australian is neglected. Cheese is weaker, white New Zealand 130 s. Coloured is slow*, 1405.; Australian is in poor demand owing to inferior quality, coloured being nominally about 134.