COMMERCIAL.

Poverty Bay Herald, Volume XXXVII, Issue 12411, 22 March 1911, Page 9

COMMERCIAL.

(Press Assn.— By .Telegraph.— Copyright.) • (Received March "&, '8.30 ' a.m.) LONDON, March 21. At the wool sttfesi:* the "Manuka" clip realised 24jd as top price, the average price being 22Jd; "GJendnu," top price 10id, average 9id. ' • Canary seed is quoted at 67s to 80s, and hemp seed 38s to- 40s. (Received March 22, 10.10 a.m.)' lt x . , - LONDON, Jtyncta.H. At the wrioi sales there was keen competition at full rates. ; " ' Messrs Williams and Kettle, Ltd., are m receipt of the following wool report, from their London agent,' under date 10th February, 1911 :— , The first series of colonial wool sales for the current year, which commenced on the 17th ultimo, concluded on the 7th inst. 'During the 16 selling days 184,836 bales have been catalogued, giving a daily average of 11,532 bales, about 182.000 bales having been sold, of which about 112,000 bales go to the home trade, 64,000 bales to the Continent, and. 6000 bales to America, leaving 17,500 bales to be carried forward for future realisation. During the interval . betweeen the auctions n period of considerable uncertainty was • experienced as to the real position of the raw ! material throughout the world, doubtless m- j fluenced by the bearing tactics which took' place on the Continent towards the latter j part of December. In addition to this the Australian market at that time showed a de- j cided weakness. These various points tended ! naturally to influence operators here; it was therefore generally anticipated that a decline m values would take place when the ' sales started. At the outset prices of merinos fell from 5 per cent to 10 *jr cent" as the sales progressed, however, tlie better descriptions of greasy merinos recovered the initial set-back of 5 per cent, and remained steady at December rates, but other kinds, both scoured and greasy, must be quoted i generally at 74 per cent below last cur- I rencies. As far as crossbreds are concerned these have undergone some considerable fluctuations. After opening at a< reduction of 7* I per cent to 10 per cent medium and coarser grades recovered a portion of this decline, put the 'improvement was only temporary, for prices again gave way, and at the close must be quoted at 10 per cent on medium, ft per cent on coarse, whilst finer qualities depreciated about 5 per cent. Scoured and slipes have been m comparatively small sunpy \ am ? hßve show " « reduction of 5 per cent. The general result of the auctions is disappointing, particularly with regard to crossbreds. The home trade have 'taken & large share of supplies, but unless the Continental and American operators n*e prepared to take a larger, proportion <X available supplies values are hardly likely' to improve m the near future when the full Thl£! ° f U u e Clip co ," ,es u P° n «»e .market, m^nt c » re - how fver, slight Slg n ß of improvement m America, which it is hoped may develop further. A larger quantity than usual of the New Zealand clip flgureoin thS catalogues. The condition, however, 4 is somewhat disappointing, being very fatty, short- «, g .*° W J l * U ? d of . ten tender ' we <lHk latest Is 9d, 50 s Is 6id, Qb'a medium la Md qo'a coarse Is ljd, and 36's coarse Is M. ' Thfe next auctions will commence on 14th March without limit as to quantity. V «">rcn,