WOOL SALES.

Press, Volume LXVI, Issue 20096, 27 November 1930, Page 12

WOOL SALES.

MARKET FALLS AT SYDNEY. DECLINE OF 2i TO 5 PER CENT. (VKITED PEESS ASSOCIATION—BY ELECTRIC TELEGRAPH—COPYRIGHT.) (Received November 26th, 8.55 p.m.) SYDNEY, November 26. At the wool u&les to-day, 10,637 bales were offered, of which 9000 were sold, while 1173 were disposed of privately. The market for all good wools showed a decline of 2$ to 5 per cent. ; for top-.making, a fall of from 5 to 7J per cent.; crossbreds were from 74 to 10 per cent, lower. Greasy Merino made up to 20Jd. SALES RESUMED AT LONDON. KEEN BIDDING AT LOWER LEVEL.

LONDON, November 25,

At the wool sales 10,544 bales were offered, including 2681 from New Zealand, and approximately 8420 were sold. There was a miscellaneous inferior selection, with a crowded attendance and keen general bidding at & lower level. Pine merinos were steady at October closing rates. I nferior faultios declined from 5 to 7$ per cent. In crossbreds, only medium lower grades were offered at a decline of 15 per cent. Slipes were neglected: — Isew Zealand crossbreds wero quoted as under: — Top. Average, d. <l. Hokoroa •• "i \ Panikau •• 6:> c

The Bank of New Zealand has received the following advice from its London office, under date 25th inst. : "The sales have opened with modorate competition and a large attendance of buyers. Compared with the close of last series greasy crossbred is lid to lAd lower and greasy merino Jd to Id per lb lower." Pyne, Gould, Guinness, Ltd., have received the following cablegram from London, dated 25th inst.: "The sales opened to a large attendance, •with good competition, mostly Continental. As compared with the September series, merino scoured and greasy Id lower, crossbred greasy ljd lower, sline Id lower. The withdrawals were small.''

Dalgety and Company, Ltd., Christchurch, have received the following cablegram from their London office, under date November 25tli: — London wool sales opened with good competition; large attendance; good average selection. Continental buyers principal operators. Home-tra<le competition fairljt active. As compared with closing rates of last series prices were: —

Super merino—Par to 5 per cent lower.

Average to good merino—s per cent lower.

Inferior and faulty merino—7-i to 10 per ••ent. loner. Fine crossbred—lo to 15 per cent, lower. Medium and coarse crossbred—lS per cent, lower. Slipe—lo to 15 per cent, lower. Lambs —10 per cent, lower.

The New Zealand Loan and Mercantile Agency Company is in receipt of the following cable from its London office, under date November 25th: There was a full attendance at th« opening of the sales to-day, competition by Homo and Continental buyers being fairly active, and prices, as compared with close of preceding series, mled about the same for the best descriptions of morino, 5 per cent, to 10 per cent, lower for other sorts of merino, 10 per cent, lower for crossbred slipes, 10 per cent, to 15 per cent. Idwer for greasy crossbred and scoured crossbred. The opening catalogues were representative.

The New Zealand Farmers' Co-oper-ative Association received tbe following cable from its London office, dated November. 25th *— London wool sales opened to-day. and prices, compared with the last serias._ are as follows: ■ Merino, Id cheaper. All erossbreds and slipes, Id to ljd -cheaper.' TRADE WITH BRITAIN. PLEA FOR GREATER SUPPORT. [THE PB.EBS Speci&l Service, j AUCKLAND, November 26. A plea for greater support for British trade, and in particular for trade with the United Kingdom, was made by Mr Ashcroft Edwards, of Wellington, president of the New Zealand United Kingdom Manufacturers' Association, when he addressed a meeting of business men held to consider the formation of a branch of the Association in Auckland. "It does not take much proving tft show that the prosperity of New Zealand depends on that of the United Kingdom," said Mr Edwards. "Unfortunately we are, on the surface, a somewhat pessimistic race, and as a consequence, when our business men go home they meet people who are inclined to be pessimistic about England's future. They are likely to take remarks they hear at their face value, and when they return to rush into the newspapers. They are quite wrong. At present England is possibly the strongest economically of all nations.

"We are not a patriotic Association, and do not wave the flag. Our patriotism is 1 practical. We are trying to aid the United Kingdom and at the same time save this country. We hold after investigation that there are many manufactures in New Zealand which do not exist on an economic basis. We hold that before a local manufacture is established it should be investigated to see if local conditions will support it. There are industries in the Dominion which are not essential, and which have no justification for being a burden on the country." NEGOTIATIONS FOR TRADE TREATY. (T7HITED PRESS ASSOCIATION —B? ELECTRIC TELEGRAPH —COPYRIGHT.) PARIS, November 25. Dr. G. Craig (New Zealand Comptroller of Customs) is negotiating with the Ministry of Customs for a trade treaty. It is stated that the French requests make it difficult to find a basis acceptable to New Zealand.