MUCH IMPROVED

Poverty Bay Herald, Volume LV, Issue 17231, 10 April 1930, Page 6

MUCH IMPROVED

THE WOOL MARKET LONDON SALES CLOSE LEAKS I BIX 11 OUTLOOK. (Klee. Tel. Copyright —United Press Assn.) (Received April UL 2 p.m.) LONDON, April 9. At iho wool sales. 7-139 hates were olfeieil, including 1010 hales ol Aew Zea land and 6Uo of reconditioned New Zealand. Approximately ZjIO hales were sold. New Zealand sales: Greasy crossbred, lit i, lid ‘highest, 10,jd average • Burn: Hill, UP,d and lUjd. Male - ; closed strongly, with the highest prices of the scrips. Mci-mos experienced iu.-reasing competition Imm Inc Continent as the series proceeded. All liner sorts of combings \iere lul 1 y 5 per cent, above tho opening rates. Minibby and inferior carbonising sorts were in strong request at J m JO per cent, advance. Scoured:-; met a strong market, which closed at id io-Zd above lebruary closiinr prices, t mssbreds, both greasy and s ..oared, fully recovered the opening dedilie. and at the close were equal to the best February rates. Klipes also recovered. hut not to quite I fie same, extent. Lanins, menuas, wore about 0 per cent., and crossbreds about 10 per cent, above the opening rates. 'i'fie totals sold were: Home trade, 58.C00 bales; l.'ontincut, 63.000; i tilled Elates. 5000; held over, 61,000. It is estimated tli.it the total Australian sold was 56,000 bales, and New Zealand 30,000. Messrs. 11. Dawson and Sons, commeuling on the outlook, slate that Die outstanding feature was the. all-round indication, of an improving demand for merinos. Wools arriving irom Australia and South Africa were rapidly absorbed. The position of supplies of line wools is assuming a new perspective. The muefifeared bogey of excessive stocks is not likelv to cause any severe iiught. It is now evident that the Australian marketwill Jio well cleared before the new flip can he available. This fact alone has done .something to restore, confidence. Altogether there is a much improved demand, and a good latter half year for fine sorts !.» generally expected, t utortunatelv the improvement in the market is overshadowed temporarily by the threatened stoppage in Yorkshire.

Messrs. Williams and Kellie Ltd. are in receipt of the following cabled advice from London : “The second series of sales

dosed yesterday. As compared with the closing rates of the January sale, halfbred and fine crossbred showed a decline of to JJd. medium crossbred a decline of /<! to J[d, coarse crossbred a decline of jd. Quotations for wools of average stvio and condition are: 48/50's, 10 Jcl to 10$d : 46/43’s. 9|d to 10RI; 44/46’s, 9>d to 91,(1; 40/44’s, Bijd to C.Jd; 36/40’s, 82d to 9R1.”

The Bank of New Zealand is in receipt of thb following cable advice from London, dated 9th inst. : “The sales have closed firm for all kinds of wool with an active demand in all branches of the trade. Compared with the opening of the sales, medium and coarse crossbred were -jd higher. Quotations: Merino, super 12d to 13jd, ordinary 10JM to Lljd, inferior 9d to ]od; haifbred, J2d to 13d : crossbred, fine 10|d io 11-td, medium !);jd to 10jd. coarse 9Ad to 10d.”