WOOL SALE.

Press, Volume LXIII, Issue 18893, 7 January 1927, Page 10

WOOL SALE.

CHRISTCHURCH AUCTION. KEEN COMPETITION. ADVANCE IN VALUES.

The second C'hristchurch sale of the present season was commenced in the Caledonian Hall. Kilmore street, last evening at 7.30 o'clock. The gallery of the"hall was filled with interested upectatore. the bulk of farmers whose clips are included ij the present catalogue. . The accommodation set aside tor buvers was tully occupied, there being between 60 and 70 firms represented. All buying points api>eared to be operating, a pleasing sign being that the activity of Bradford houses was much more pronounced than at preceding isalos this season. The catalogue for the present sale is 26,038 bales, comprised as follows: — Bales. I'yne. Gould. Guinness, Ltd. ... 8107 Farmers' Co-op., Ltd. ••• ® Dalgetv and Co. ... ••• w OO Rational Mortgage and Agency Matson and Co.- ••• ••• Loan and Mercantile Co. ... ua The first catalogue was disposed of last night and tho sale will be resumed at 9 o'clock this morning. Quality of the Clip.

There was a general agreement amongst buyers that the present catalogue is the best quality likely, to be offered this season in the Dominion It comprises for the most part wool of 60's count and over with a fair showinz of fino crossbred and also a good JepreVcntation of..the earlier mer.no clips. It is particularly sound and well-grown, and free from dust for this period of the year, due to the comparative scarcity of dry weather. In this respect it excelled the corresponding catalogues of recent years. me hogget wool displayed a remarkable lecgth of staple—too much for a section of buyers. The favourable nature of the season is emphasised by the la" that the average fleece this year approximates about 111b more weight than last year, when the season, however, was an unusually unfavourable one.

Active Competition. The sale so far as it proceeded last j night more than realised vendors j expectations.. From, the outstt, bid-, dine was most spirited, and in marked ; contrast to the' hesitancy that was dis- ; played in the earlier stages of tlic ccember sale. The improved prices of the auctions immediately preceding : the holidays were moro than maintain- 1 ed, theft) being a general rise for nnoi wools of fully a penny per lb, and i on coarser grades of up to a pcimj.j Compared with the December auction, ; the advance averaged from lid to /a k lb more in many cases. An evidence . of the strong tone that prevailed was j provided by the fact that only 14 bales i were passed in the 8100 offered, nhien j must be a record of its kind. Bradford houses were the most active operators for fine wools, and they also took a heavy proportion of tlio coarser grades. Local mills did not appear to be so prominently in the competition as nt the December salo. A proportion ot hogget wool went to American competition, but the pioportion appeared to be less than usual. Continental representatives operated spiritedly for all classes of coarser .wools and fellmongers generally found their scale of values too high to compete against. Tt was obvious that rood buying orders were held by a number of the buyers and that their limits possessed more elasticitv than nt_ the December auction. Altogether it was f highly satisfactory miction, the competition reaching a high pitch of excitement at times. In making comparisons with recent sales, however, tho outstanding character of the present catalogue lias to be given due consideration.

The Top Prices.

Top prices last night in the first catalogue, according to the description, were:—Merino 21id (in Decembor 19Jd); Corriedale 20Jd (21Jd); halfbred 21* d (20Jd); threequarter bred lpja (lOd); crossbred 16id (13i); Corriedale pieces 16Jd (15Jd;; halfbred pieces 17jd (17d). The point about last nights auction, however, is that a heavy proportion of the halfbred and Corriedale offering ranged from 17id to 19d, compared with 16d to 17dat last sale, with crossbred from lljd tbii3d, as against lOd to lid vat the IBecember .auction. Only special clips • brought the' top prices mentioned.' • Among ' tht> high-priced iota were eight bales of Waitu'na merino : 21id, four bales of Shades. (W. Trolove, Marlborough) • 21Jd, seven bales or, Surry Hills merino 20} d, and five bales SOJd, 18' bales' Kainui merino (Scott Bros., Blenheim) 20id, 31 bales of Farfid halfbred (Wilfred Hall) 21$ d, twelve hales of Giassington halfbred (G: Reid, Rotherhnm) 20d. 16 v bales of Mt. Torlesse halfbred (R. M. D. Morten) 20d, 12 bales of Blairlogie Corriedale (Fergusson Bros., Waiau) 20|d and 19 bales 20d, eight bales of Balrazie Corriedale (Leonard White, Rakaia) 20Jd. 20 hales of Hui Hui Corriedalt. (H. T. 7-ittle) 2<Hd, eight bales of Ashley Cliffs crossbred (H. Myers) 16Jd and nine bales of C. S. (estate of late Colin Stewart, Chertsey) threequarter-bred, 16} d. •'.'

Lowlandleas: 5 Corr c. 17Jd, 6 Corr. e I6|d. Brabourne: 12 ibd 18d, 4 Jbd 12Jd, 4 Jbd pes 12 Jd. F.L.K.: 8 Jbd 17} d. Weatland: 5 auper Jbd e, 6 super h 19d, « ibd e 181 d, 5 Jbd h 17Jd. Rim: 4 Corr • 18fd, 6 xbd e 133 d. Inverted BC: 12 ibd • 17Jd.. Pinegrove: 11 ibd e and h 18Jd, 12 ibd e and h 173 d, 6ibd e 16Jd, 4 ibd pes 15} d, 7 ibd bels 12Jd. Crenlea: 6 ibd • 18d, 9 Jbd e 14Jd, 4 Jbd e 13Jd. OM: 6 ibd e 17Jd. Melbury over DV: 5 ibd e 17id, 10 Jbd e 15d. The Ned: 12 mere AA 19Jd, 5 mere 18Jd, 14 mer w 18Jd, 12 mer w 18d. 5 mer h 18d, 6 ibd o 17id. B: 6 mer 20] d, 6 ibd 17Jd. P7: 9 ibd e 17Jd,' 7 Jbd. 15Jd. N over R. Chapman: 6 |bd e 18Jd, 5 Jbd 14id. H 3: 11. Jbd e i7Jd. Liddlebank over WE: 5 super ibd e 19d. Hesthficld: 4 ibd e 17jd. Silverwood over PA: 9 Corr e 19Jd, 8 Corr e 18d. The Gums: 11 ibd e 19Jd, 8 ibd e 18d, 8 Sbd e 15Jd, 7 ibd h 16R Mt. Donald: 8 ibd e A 18d. Hazelhurst: 12 Corr A 18Jd, 7 Corr B 17id. Cross over GD: 13 ibd o 20d, 12 Jbd e 19d; 12 ibd e 38} d, 5 ihd e h 17Jd, 6 ibd h 162 d, 9 Jbd dingy 15Jd, 12 Jbd pes 17d, 6. Jbd bels I3j|d, i Jbd crut BJd. Lowry Hille: 11 Jbd o 18Id, 10 Jbd e 17d, 17 Jbd e 16Jd. 3Y: 12 Jbd e 18d. Half moon over 3: 10 Jbd c 18Jd, 11 Jbd e 17{d. Vulcan

Downs: 24 Jbd 18? d, 8 Jbd 17d. 10 Jbd h 17id, 9 Jbd pc 8 17d, 9 Jbd pes 133 d, 4 *bd crut 9Jd. Swastika over Otnhuna: 23 Corr e 20d. 13 Corr h ISJd, 11 Jbd e 15d. EG over Teddington: 11 3bd e 13d. Loudon: 13 Jbd o 15d, 20 Jbd c 12Jd. GD over K: 7 Roniney ISJd. Shades: 9 Jlxl l?Jd. U ibd 17{d,' 8 rncr 2i',cl,' 7 uior 19id, 3'iner 13d, 10 Ibd pes liai. FC over XXX: 1-i ■4bd e'lß>d. • Clonmrl:. 15 Jbd r ISM. Half rnoDii ovor O: I mer iO' k d I' over AG: 33 }bd 6 182 d. ,' ..Wailum: 10 Corr c Wid. S mere Slid,,ls'ibd^.l 7jd.- n-VC'-lfc Ibd «• 18d. - Taylor's Mistake: 10 Corr w i7Jd. WAD over DeV>l,Va- 15 Cr>r r r lfl'.d. Tirana: » )bd c 13d.. in U-.jl r .ISI.-1., 10 v!*l 'l'JJd. ■AH: 7 mer w lir;,|, if) vH'r HVI. Lonnn-

more: i Coit e ISJd, i ! -bd c ].■=*. KiverJands: S Jbi 13d, 27 Vod 19d, 18 ibd I7;d, 12 xixl I2[d. "WW over Balrazie: S Corr c 20Jd, 12 Corr e IOJd, 8 Corr e l«><i. Tuui: 20 Jbd c 19{d. GC over Mov Flat: C 'bd c lS)d. VT over G: 10 Jbd c 13W. 13 •Ibd e 18d. IG: 4 Jbd e 19; d, 5 Jbd e I3d. Springbank: 7 Jbd e 14Jd. Anarca: 19 Corr e 19Jd, 13 Corr c 19d. V.'aipara Downs: 30 Corr 17jd. lilairlojie: 12 Corr e 2!~>3d, 19 Corr e 20d. M'. Kllen: 13 Jbd 19Jd. F in trianzle: 4 bel? and pes 14:Jd, 11 jbd 19d. Hui Hui: 20 Corr c 20Jd, 1" Corr pes Bar over M: 15 Ibd 16Jd. 2 D over Eastwood: 6 Jbd 1.1 jd. Orahaki: 4 Jbd 19d. 11 Jbd l-'Jd. Tiverton: 10 Jbd e 15d. Farfld: 31 Jbd e 21Jd, 11 Ibd e lDjd. Aifristnn: 11 Jbd e 193 d. 67 over H: 4 Jbd e 19d. Te Tinii: 12 Jbd e 13jd. firasi-ington: 12 Jbd e 20d, 12 Jbd e 19d, 14 Jbd e lfljd, 10 Jbd pes 16Jd. 6 Jbd bels 14} d. AWB over Motunaa: 20 Jbd e 191 d, 10 Jbd e 17d, 10 Jbd h 16Jd. 8 Jbd necks 17Jd. 10 Jbd e pes 163 d, 4 Jbd pes 13Jd. Surrey Hills over N.Z.: 7 mere 20Jd, 5 mer h 20Jd. 4 Jbd pes 13jd, 8 Jbd bels 13Jd. Mt. Palm: 4 fine Jbd e 19Jd, 18 fine Jbd e 17Jd, 15 Jbd e 183 d, 5 Jbd w 16J& li Jbd h 17Jd, 7 jbd h 16Jd, 4 jbd rams 15Jd. JRG: 13 Jbd e and w 18d. Mt. Torlesse: 24 Jbd A lOd, 29 Jbd B 18jd, 8 Jbd v ISJd. 6 Jbd B 16Jd, 16 Jbd h 20d, 4 Jbd h 18Jd, 29 sandy 15jd. Cot: 17 comb jbd 183 d, 16 comb jbd 17jd, 5 Jbd 163 d, 19 comb ).bd h 15Jd, 17 comb mer 18d, 4 comb mer'h IHJd, 5 jbd pes 163 d. Kainui: 18 mer AA 2l'ld, 5 mer 19Jd. Mt. Walker: 7 mer 18:] d.

SYDNEY WOOL SALES. {Bf CABLE —PRI9» AaaOCUTIO* -COPYRIGHT.) (AUSTRALIAN AXJ> IT. Z. CABLE ASSOCIATION) (Received January 7tfi, 12.5 a.m.) SYDNEY, January 6. The week's wool sales closed with the market very strongly -supported by Japanese, German, and Bradford operators, and prices were very firm at late rates. Full clearances were made. Greasy merino touched 30d a lb. PORT OF LONDON. A PROGRESSIVE POLICY.

Captain A. W. Pearse, Australian and New Zcalaad representative for the Port of London Authority, is paying his periodical visit to the Dominion, and is at preesnt in Christchurch. The function of the Authority, which is honorary, is to provide facilities for and encourage the trade of the Port of London. Its revenue is derived mainly from dock charges on goods and shipping, river tonnage dues and port rates on goods. Its capital is in the form of Port stock carrying fixed rates of interest, so that there are no shareholders and distribution of profits in the ordinary meaning of those terms. Any surplus of revenue on working must be used for improving the Port or for the' reduction of rates and charges.

Big Improvements. Speaking to a Press representative the Captain said that big improvements were being carried out. "The wool imports have become so heavy and important, that they have had the lighting ! of their vast show floors very much; improved, and to-day they are perfect," j he said. "It must be. remembered that this increase of wool.is accounted for by the large quantity of wool bought abroad by speculators for resale in London. For the meat, trade a berth has been provided at the tidal basin, lloyal .Victoria .Dock,, with a shed 40S feet long.and 95 feet wide with covered loading platform and road and rail access. A new floating landing stage for passenger traffic at Tilbury connected with the L.M. and S. railway station with a stage 1140 feet long, is in course of construction. Railway carriages will come along this to the. ship. A now entrance lock to the Tilbury Docks will bo 1000 feet long, 110 feet wide, with a depth on the sill of 45 feet 6 inches be- ! low Trinity high water mark. A new dry dock at Tilbury will be 7-50 feet long, 110 feet wide, and a depth of 3o feet 6 inches over the blocks. There will also bo a new entrance to the South West India Dock and a passage connecting the South West India Dock anJ West India Export Dock, and a passage [•from the Export to the Import Dock. I This expenditure will exceed £4,000,•oco."

Butter Imports. Continuing, Captain Pearse said that it has been stated that butter fetches higher prices at out ports than in London. This was a misleading statement. The difference in prices is accounted for by reason of the fact that the prices quoted at the outports are those of the wholesale trade who buy from importers, whereas the prices in London are j those paid by importers. If the London wholesalers' prices were quoted it would mean an addition of 4s to 6s per cwt. to the importers' prices. There is no doubt that shippers do much better by concentrating in one centre, and the only suitable centre is London, where there are discharging facilities second to none. When all the goods are landed in London then the importers have a full control of the market, whereas if a portion of the butter is sent to outports it means that instead of fifteen or twenty importers in one centre quoting and maintaining quotations through Great -Britain/- the mar.kets are affected by the weakest seller at that outport, .ami-this, has a depressing effect upon ,the market.

An Unwise Policy. Captain Pcarse does ."not consider the New Zealand "Meat Producers Board would 'be .well advised, to erect a cold store in London at present. "There is already much more cold storage space than is required," he said. '' Somo spaco has already been scrapped and, judging from the experience •of 'the past' two or three years, further reductions might _be made. Stores aepend upon all sources of production for their business and for many months of the year are in want of business to keep going. It therefore seems hardly feasible that a store depending on New Zealand meat only, could pay its way. The distribution of stores in different positions is necessary to meet the various requirements of the trade, and the same advantages could not be obtained by working-from one store only.

AUSTRALIAN MARKETS. (BT CAB LI —PWKBB ASSOCIATION—COPTBIOIIT.) (AUSTRALIAN AND H.Z. CABLE ASSOCIATIOH.) (Received January Gth, 8.50 p.m.) ■ SYDNEY, January 6. Wheat-There ia an easing tendency, the local market being depressed, ihe quotation is 4s M a bushel at. country stations, equal to 4s 5Jd ex trucks, Sydney. Floud—For local use the quotation is £l3 a ton, and for export £l2 a ton. Oats— I Tasmania!! .White Giants are q"°t«d at from 4a 3d to 4s 5d a bushel, and Algerians at 3s 10d to Is. Maize—South African is quoted at 8s a bushel. . . . ~A Potatoes—Tasmamana are brining £-0 to £2l a ton. Local new potatoes bnng i-o. Onions—£lo a ton. (Received January Ctli, S.oO p.ih.) ADELAIDE, January 6. ■\Yhoat—Growers' lots, 5s to 5s 2d ft bushel. Parcels are nom.ndlly 5s 3 u d. Flour —B.ikers' lots £-13 is fcd a tou. Oats—2s 4d to 2a 6d a bushel.

BRITISH CONVERSION LOAN. (DT CAELF.—PRSS3 ASSOCIATiriS-tOFYBIGHT.) IAKSTRAUAK AND x.s cable association.) LONDON, January 5. 'i'iio H="t" of cash applications for the Government's conversion loan closed a day before tlic fised date, so apparently (he subscriptions liave bi'cn heavy. ' Conversion Applications will be received till Jiiuunry lllh.