THE MARKETS
London, April 5.
The wool sales opened to-day ; 9500 bales were catalogued ; one-third from New Zealand. There was a large attendance of buyers, and bidding was keen. The prices realised were fully equal to the closing rates of February sales. The number of bales available, including those reserved, was 340,000.
At the wool sales to-day the demand was good. Merinos and crossbreds realised prices equal to the closing rates of the February sales; scoured inferior a fraction cheaper.
Tbe quantity of wheat and flour afloat for the United Kingdom is 1,500,000 quarters, and for the Continent 300,000 quarters. The matket rate of discount is I^3 per cent.
The New Zealand Loan and Mercantile Agency Company, Limited, has just received the following cable message from London, dated April sth : —
Wool — The sales opened this day at the level of last sales, except for faulty scoured* and coarse crossbred, for which the market is easier. The attendance of both home and foreign buyers is good, and competition is fairly active. The sales comprise 313,000 bales. 54,000 bales have been sent to the manufacturing districts direct.
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Ashburton Guardian, Volume VII, Issue 1809, 7 April 1888, Page 3
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185THE MARKETS Ashburton Guardian, Volume VII, Issue 1809, 7 April 1888, Page 3
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