LONDON WOOL SALES.

Dominion, Volume 4, Issue 1124, 11 May 1911, Page 8

LONDON WOOL SALES.

THIRD SEEIES OPENS. By Telesraph—Press Association-Copyrizht London, May 9. The third series of the wool sales opened to-day. There was keen competition at a par to 5 per cent.' advance in prices. BIG NEW ZEALAND OFFERING. By Telegraph—Press Association—Copyrieat (Eec. May 11, 0.35 a.m.) London, May 10. At t]io wool sales. £2-52 bales were olfcrcd. and of this Quantity two-thirds came from New Zealand. The offering was a somewhat miscellaneous selection. There was a very larje attendance, with keen competition for tils Continental and Home markets, l'rice.'i were at froir. par to 5 per cent, advance all round. The greatest rise was in coarse cro.-;sbreds. ■'

The commerce and tourists division of the Department of Agriculture, Commerce and Toiu'ists has received the following cablegram from the High Commissions for New Zealand, detect London May 9, rejrardins: the opening of the third series of the colonial wool sales:—"The wool sales have commenced. There is a general and active demand for all qualities. Trade is good at Homo and on the Continent. Merinos: Fine crossbreds and medium crossbreds Jd. per lb., and coarsc id- per lb. advance." Tho estimated values of Kcw Zealand wools at the close of the sccond series of colonial wool s-ales held in London on April 1 were as follow:—Superior merino, Is. to Is. 2d.; medium, 10d. to llid.; inferior. Bd. to 9id.; fine crossbreds, all grades, lljd. to Is. 2d.; medium, 9d..t0 lid.: coarse, B}d. to ICd. Messrs. Dalgety and Company, Limited, have received thy following: eablozrani from their London office, dated May 9:—"The attendance of buyers is large, and competition is very animated. There is an average selection. Coarse crossbreds show an advance of 5 per cent.' Medium and fine crossbreds and merinos are par to 5 per cent, higher." Messrs. Abraham and Williams, Ltd., have received the following cablegram from London, under date. .May 9:—"The May sales hove opened with good competition, the market now. being very firm. Values, as compared with the opaning rates of last series, have advanced 5 per cent, for all sorts." The "Bank of New Zealand has received the following cablegram from its Lcndon office, dated May 9:—The sales have opened with strong: competition and a large attendance of buyers. Prices are higher, par to 5 Tp;r cent. "The market is strong fr-r all kinds of wool. The net ouantity of New Zealand wool available is ICO,WO bales. Messrs. Murray, Roberts and Co., Ltd., have received the following cablegram from their London friends, Messrs. ..Sanderson, Murray and Co.:—"The third series woo! sales have opened with a good tone, the attendance of buyers being very large and competition .good; market shows an advance of par to 5 per cent. Selection offered was poor."

Jlossrs. Levin and Co., Ltd., have received the following cablegram, dated London, May 9:—"The May wool sales have opened. Merinos and crossbreds havo opened firm, at par to 5 per cent, advance on closing rates of last sales. Mediums and coarse crossbreds show an advance of 5 per cent. The bidding is keen."

The United Farmers' Co-operative Association, Ltd., have received the following cablegram from their London agents, under date litay 9:—"The third series of wool sales opened to-day, and wore well attended by Home, Continental, and American buyers. Competition was animated. Fine crossbred advanced from par to 5 per cent., and medium and coarsa crossbred advanced 5 per cent., compared with closing rates of previous sales."

DUNEDIN GRAIN MARKET. (By Telesrapa-Press Association.) Dunodin, May 10 There i 3 very little change to report in the oats market. Consignments ar? coming forward fairly regularly. There is, however, a. fair difference in ideas of valuec between shippers and growers, and business is hard to transact. Seed lines are in demand. Prime milling, 2s. 3>d. to 2s. M.; good to best feed, 2s. 2Jd. to 2?. 3d.; inferior to medium, 2s. to 2s 2d. Wheat: Th're is good demand from millers and for shipmeat, and prices show a slight advance The demand for shipment is chiefly for tusoan and velvet car, millers taking all good lines of velvet oiTcrin;, Fowl wheat is scarce, and is readily cold. Prime milling, 3s. od. to 3;i. 6(1.; medium to good, 3s. 413 to 3s. Eil.; best whole fowl wheat, is h\ to 33. tyl.

KOTITKU OIL FIELDS. (By Telegraph —Special Correspondent.) Clirlstsliurcil, May 10. The rosy prospects entertained of the Kotukii oil fields are substantiated by 3ir. T. W. Reese, of the firm of Messrs.'Reese Bros, who r.eturned. on A'cnday night from an ev' tended business trip through the Vest Const. Mr. Reese said that. Kotnku was a railway siding about 20 miles from Grevinouth on the fireymouth-Otira "line, 'it was situated in a spacious timbered valley where there was one of the biggest sawmills in the district. Tne oil wells were right alongside the.sawmills. about a mile from the railway siding. Attention was drawn to them by two or three " which resembled «omc of the small geysers of Kotorua. one especially playing to a height, of from 20 to M leet, and, curiously enough, ejecting salt, water. After sundry unsuccessful borings, and the sinking of four or five welis, most satisfactory and inspiriting results had been obtained. Near the "gushers" everything within a chain radius was covered with an lhcrm.tation of petrified oil. A stick imm'.--;cd in the li(iuid of the "gusher" ciuic.kly assumed a petrified apucarance. A lurt near by was coated an inch thick with solidified oil. When Sir. Reese was there last Friday, Mr /'iiman. v.-hasn property is ctliaccut, to the oilfields, was also there directing the operations of two Galician boreri who aro ex . perls in deep lion: sinking. The most up-to-date boring plant is uov; on its wav to t'.i" field-, but even with the inaderiinte borine machinery at their command, they secured results that, gle-fuliy drew from them the whol" Of their linglisn vocabulary, "fioot I Goot!". The bores worn running kerosene' salt water, and « mixture of a dark green colour.