LONDON WOOL SALES.

Poverty Bay Herald, Volume XLI, Issue 13427, 8 July 1914, Page 3

LONDON WOOL SALES.

| THE FOURTH SERIES. ADVANCE IX CROSSBREDS." (Press Assn.—By Telegrapb— Copyright.) (Received July 8, 9.15 a.m.) LONDON, July 7. Tho wool .sales- havo opened. There were very few offerings of merino wool, but a good selection of crossbred. Prices were par to 7_ per cent, advance. * WELLINOTON. this day. The Department of Agriculture has received the following cablegram from the High Commissioner, dated London. July 7, regarding- the opening .of the fourth series of colonial wool sales; "The wool sales have commenced. There is a laiyre attendance of buyers, and a good demand for all classes, especially fine wools, wliich are m small supply. Americans ar e bidding freely. Trade is good on the Continent, but the Home trade is quiet. Merinos and fine crossbreds, all srrades, are an average of _|d liigher. Medium and coarse crossbreds, all grades, are firm at last quotations. One hundred and seven thousand bales of New Zealand wool have been catalogued." (Special to Herald.) NAPIER, this day. Messrs Murray, Roberts and Co. liave received the following from their London house, Messrs Sanderson, Murray and Co. : "The sales opened strong, with a large attendance of buyers. There was good competition for merino, a poor selection being offered, not sufficient to test the market. Fine crossbreds advanced 7_r per cent. For other descriptions of crossbred the market shows no material change."

Messrs Common, Shelton and Co. have received advice from their London agents that medium crossbred stands at last sales' rates. Messrs Williams and Kettle are m receipt of cable advice from their London agents that fine wools have advanced 5 to 7_r per cent., and coarse and medium unchanged. ..., The Bank of New Zealand" to-day received tihe following cable advice "from the London office' re wool sales: "The sales have opened with moderate competition and large attendance of buyers. Total net quantity New Zealand, available 110,000 bales. Prices are easier for coarse crossbreds. The market is strong for medium aud fine crossbreds ; m the former prices are* unchanged, and the latter are 5 per cent, to 7£ pea- cent, higher."

The New Zealand Loan and Mercantile Agency Co., Ltd., have, to-day received the following cable from their London office:— "Wool: There was a full attendance ;at the opening of ' the sales tp-day, competition by; Home and Continental and American buyers being active. The opening catalogues were not representative. Very little mferino was offered. As compared with last sales' closing rates, prices are higher about 5 per cent, for fine crossbred and faulty wool. About par to 6 per cent, higher for medium crossbred. Coarse crossbred market is firm."