SYDNEY WOOL SALE

Waikato Times, Volume 122, Issue 20466, 5 April 1938, Page 12

SYDNEY WOOL SALE

OOMPETITION REPORTED KEEN GOOD CLEARANCES EFFECTED United Press Assn.—Elec. TeL r py right SYDNEY. April 4 With the exception of irregularity In Inferior topmaking sorts to-day’s wool market, in Sydney displayed no change from last week. Competition was keen and good clearances were affected. Greasy merino made up to 174 d. A total of 9563 bales was offered and 7400 bales were sold. A further 1602 bales were sold privately. OTAGO RETURNB DEFICIT OF £1,000.000 (By Telegraph.—Press Association) DUNEDIN, Monday The gross proceeds of the third Dunedin wool sale of the season were less than half those realised for the corresponding sale last year, the decrease amounting to £398.814. Already the previous sales had shown a decrease in 1936-37 figures to the extent of £563,115 and with the drop associated with the third sale the total deficit for the present season Is £961,929. The amount of wool sold, however, has been less than In the last season, the difference being 17.00 4 bales, but allowing for the value of these at the current rates the huge deficit would be reduced by only £168,000.When the season is wound up Otago will not be far short of £1,000.000 below last year’s returns. At the final sale on April 12 It Is expected that at least 20,000 bales will be offered. The prospects of this sale are quite good and there should be no decrease In values.