COMMERCIAL.

Press, Volume LX, Issue 18239, 25 November 1924, Page 10

COMMERCIAL.

CHRISTCHURCH WOOL SALE. NEXT SATURDAY. The first of the season's South Island ;wool auctions commences on Saturday afternoon at 4 o'clock, in the Caledonian Hall, Kilmore street, and will be concluded on Monday.

The catalogue closed on Saturday. The offering will be a large one for the first of season sale, exceeding, approximately, 10,000 bales.

The wool, considering the rather erratic season, is opening up much better than was anticipated. A proportion, however, is fairly heavy in condition, and a number of lots of Plains wool, when the sheep were fed on turnips, is very dusty. Generally tho wool cavers a wide range in the matter of condition, but the proportion of sound wellgrown wool is quite up to the average. A big proportion of the catalogue is liogget wool. Tho most noticeable weakness is not one that can bo ascribed to the season, but to the growers themselves. A number have not skirted as heavily as they should to secure the best results. No doubt the very-high prices have beguiled them into the belief that the ivigour. of the competition will help them to get the price as well as the weight. Good classing is the first essential of good prices, when the prices are high, just the same as when they are low. Apart from this, however, there is much bright excellently grown wool 'forward, there is some very choice merino from Marlborough, and noted wellgrown clips of North Canterbury • Corriedale and half-bred are also scheduled, although some of this wool is showing dust as a result of the dry season.

The increased competition of locaT mills conmared with that exercised > at the "Wellington and Napier auctions should stimulate the competition next Saturday. There is very little wool prown'north of the Strait suitable, for the local trade, which requires a grade of a 48 count and over. In these circumstances it would not be surprising to see new fine wool figures set. For ordinary crossbred wools it is as well for vendors to remember that .the offerings at both Wellington and Nanier included wool of out-standing ■ quality, prown by leading flockmnsters. Yendors of ordinary clips, therefore, would rot lv> wise to base their reserves too literally on the northern figures. The fact that there wpr« nassings at Nanier. suggests that the Wellington tirices had that effect at the former sale. I

AUCKLAND PROSPECTS. (special to "tee PWtBS.") AUCKLAND, November 24. The prospects for the first Auckland wool sale for -this season, which is to be held on December sth, are particularly bright. Although the catalogue does not close until Friday next, it is possible to give an estimate both m regard to quantity and quality of the wool to be submitted. It is calculated that about 1'5,000 bales will -be on offer, as compared with 11,994 at the first sale last season. Sbme exceptionally attractive wools will be submitted, and. it is evident thati Auckland will show an advance in quality in the same way aa Wellington and Napier have done. s '

THE WOOL MARKET. ' CROSSBRED IN DEMAND. (by CABLE—PBESS ASSOCIATION —COPYRIGHT) (AUSTRALIAN AND N.Z. CABLE ASSOCIATION.) ,> ■. jjONDON, November 22. The wool trade is awaiting with the keenest interest the reopening pf the London wool sales on Tuesday, for everyone is anxious to see whether London will follow the sensational advance which, occurred at Wellington laßt week. ' •

. The opinion generally seems to be that crossbreds must advance, though it is a, little doubtful if to anything like the basis established at Wellington. ....Many people, are talking about a 10 per cent, rise in medium coarse qualities, and this does not seem unlikely. for everybody, wants crossbreds. and the new German currency regulations are likely to mean buying by Germans. • Begirding merino, prices are expected to be fully equal to the last series.

A SYDNEY FEAR. (AUSTRALIAN-AND N.Z. CABLE', ASSOCIATION.) . SYDNEY, November 24. " Wool', - brokers and buyers are alarmed at -. the prospect< of valuable cargoes being-held up at will by the wharf labourers. They say if the present policy; is continued, tfie result will be a serious falling-otf at the wool Bales. .. Brokers' state there is a record ®hp, and prices are higher than ever hut if there is any prospect of the wool being _ held up for an indefinite time after : it is bought, buyers may refuse to operate, »as delay will mean heavy - loss of interest, and also that the wool will not reach, the markets in time for ..the series of sales for which it is bought. (Received November 25th, 1.15 a.m.) SYDNEY, November 24;' At the wool sales the market was very strong for all descriptions. Best wools, skirtings, and other lines realised rates equal to the best of last ■week's. Greasy merinos made up to 49d. Comebacks and crossbreds both established records, realising 42id and 40d respectively.

WEMBLEY EXHIBITION. (BI CABLE—PBESS ASSOCIATION—COPTBIOHT) (AUSTBALIAN AND N.Z. CABLE ASSOCIATION." LONDON, November 23. It is expected that <in announcement regarding the- continuance of Wembley in 1925 will be made after a meeting of the Executive Council on Monday. Lord Stevenscta has informed the "Observer" that the conditions _' al down by the Government have been fulfilled, and the support promised ia satisfactory. It is reported that British pleasure resorts <ire organising a campaign against continuanoe on the ground of their losses-last season the diversion of visitors to London. L. ■ ' ' 'i=