COMMERCIAL.

Poverty Bay Herald, Volume XLI, Issue 13352, 9 April 1914, Page 6

COMMERCIAL.

Messrs Williams and Kettle, Ltd.. havo received^tlie. following market report from their London agents, dateo 6th March, 1014 : -^-Wool : The seconc series of .colonial wool sales for the cur rent year commenced on the 3rd inst., ■with an excellent attendance of lloim .and Continental buyers, whilst many American opeVators were likewise present On the opening night- live catalogue: were brought forward, comprising some 8717 bales, of which 5644 bales consist ed of New Zealand and 2700 bales Aus tralian descriptions, the' balance being Capes. 'Extreme animation marked thr bidding, prices all round showing a sub Htaiitial improvement 'on the closing rates of January aifctions. The selection of merinos was not very'representative, but prices ruled about 7_ per cent dearer, the iiiio sorts being m specia' demand. Crossbreds, on Cho otheiv hand were very fairly represented, and •ah grades met with keen competition, price* on an average' Aowing an advance, ol 10 per cent. In the case of the finer sorts the appreciation was- perhaps bare ly up to this level, but the coarser grades not linfrequently exceeded it. In slipes but few were catalogued on thi opening nighti prices showing the same improvement as was paid tor corresponding qualities iv greasy crossbreds. The result of the opening was foreshadowed by * the exceptional activity that 'has been noticed m Bradford and other manufacturing centres, and it is hoped that the improvement has comi to stay; the only doubtful featuru iv this respect is that the buying, especially for the better cross breds, is mon or less confinejd. to two or three operators, who have, it is . reported, sold hgi-vily forward cither m cased wooh or tops* to America, and find themselves Compelled to pay extreme rates to covei their commitments; and the question i. whether, when they" have covered theii urgent requirements, and also when sup plies are more plentiful prices will havt a set back. At. the moment this seerm a little probable, inasmuch as some o' the American operators, who usually ar< the best buyers when seriously m the market, find' they cannot approach th( present prices paid by about kl per lb On the other hand.* it is. of course, possible that these buyers will have t( come up m their ideas if they are tc secure wool, or that some additional development m trade may niainlair j prices at. their present level. The _ total net available quantity for the series i; 141,000 bales, of which 60.100 bales an New Zealand, 7300 bales Capes, the re mainder comprising. Australian descrip tions, The^subsequeht sales have fully I confirmed the opening. In Bradford a | largo amount of new business has been booked during the past fortnight or so. including a big Turkish arlny contract, and prices of all lops are again higher. J We (juqte latest Bradford prices for tops as follows : Merino 64's 2s 6d : cross- 1 bred, fine 56's Is llfcL' EO's Is 9d. I medium 46's Is 6d, coarse 40> ls sd, j 36's Is 4|d per lb. _