LONDON WOOL SALES

Dominion, Volume 7, Issue 2197, 9 July 1914, Page 10

LONDON WOOL SALES

■.•■: -FINE OROSSBREDS..ADVANCE. ".:■■ fly Telegraph—Press Aeeociation-^Conyricht

London, July V. The wool sales have opened. .There are very few merinos, but a'good'selection of crossbreds,.which arc at from pur to a. 7} per cent, advance on, the closing rates of the last series. l ■-:

■•:' AMERICANS OPERA'JCINa PEEEr/j. ..: (Rec. July 8, 9.20 p.m.) ' : London, July 8. : At the wool salca 8403 bales were offered, including 7782 bales from; New Zealand. There was a large attendance'of buyers. Pino crossbreds were 5 to 7$ pea' cent, higher as compared with April closing > rates; medium, par to 5 per cent, higher; poorer sorts wci;e at par; slipes.and medium and low sorts a half-peniiy lower.

American buyers arc operating freely, and fine and medium crosiibrcds and merinos aro espected to show a 5 per ccstt. advance.

HIGH COMMISSIONER'S' CABLED MAKKET '•-. ,;'.." :'■ HEPOBT. ; '"..;: The Department of Agriculture, Industrie?, and Commerce'lias received the fol-' lowing cablegram Irom the High Cominiasiouer for • Aew Zealand, dated London, July 7, regarding the opening of the fourth scries of colonial wool sales:—"The wool sales have commenced. There Is.,a'largo attendance of. buyers, and a good demand for all - classes, especially for fine wools, which are in small supply.' Americans are bidding freely. "Trade,-is-good on the Continent, but Home trade is quiet. Merinos and fine crossbreds/ air grades, average 3d: higher... Medium and coarse crossbrcas. all grades, arc firm at last'quotations. One 'hundred and seven- thousand-bales of* JJcv; Zealand wool'are catalogued." . ~.-,•■

BROKERS' PRIVATE CABLEGRAMS., Messrs. Dalgety and Company have .received the following cablegram from their London office under date July 7:—"The fourth sorie.? of wool sales opened with a large attendance. of buyers and animated competition. The selection lis-....p00r, with no merinos offering. As com-: pared with last sales' closing rates, prices for greasy fine crossbrods are from 5 to 71 per cent, higher, for greasy medium cros-s----breds, from par to 5-per cent, higher, and for coarse crossbreds,'with the exception of shabby. sorts, • which are rather loweri prices are unchanged/' ,'..-

The. Bank of New Zealand has received, the following cable advice from its London office, dated July 7:—"The wool sales have opened ■ with moderate competition, and large, attendance of buyers. There is a good deiraxd Tct fine crossbiedsf..but, prices are easier for coarse crosabreds Total quantity of New Zealand w,ools available is 110,000 bales.!'." The market is strong .for medium crossbred, for which prices «ru unchanged; Themarket 'is also strong for fine crossbreds, for which-prices arc 5 per cent, to 7J per cent, higher." , •: -.'

The New' Zealand Loan' and Mercantile Agency Company, Ltd., has received the following, cablegram, from its London house, under July 7:—"London wool sales: There was a full attendance at.the opening .of • the .sales to-day, '-.competition by Home, Continental,, and .American buyora being- active.' The opening catalogues'were not representative.", Merino wool, verv little offered. As compared w^th,last sales' closing rates, : prices- are higher—about 5 per cent, for; tho crossbred and 'merino, and higher about nor to 5 per cent: for medium crossbred; The market is firm for coarse crossbred, wool." 'v..

Messrs.: Levin and Co. have'received the following cable message in connection with the London wool. sales:—"Fine crossbreds opened •at an advance of 7i per cent, on last sales' closing:.rates. ' Best ■ medium crossbreds, slightly'lower; other sorts, unchanged; merinos.: very small, offering. There was a large attendance of buyers."

. Messrs. Murray, Roberts and Co.. Ltd., have this, day received the following 'cablegram, dated July 7,, from their London' friends, ■ Messrs.;:Sandereon, v • Murray,. and Co'::—"London • wool 'sales: 'Sales -have- opened strong, there being a large attendance of buyers and good competition. The selection of merino''offering is not sufficient to test the market. ~For crossbred fine, the market: has advanced 7i per cent., but for other descriptions of crossbred the" market shows no..material-, change." - >- ■ '-:

. The;' United "Farmers'- Co-operative ,Asso : ciation; .Ltd., have received .the follpwing cablegram /from* their London agents, l under date-July 7:-"The fourth, 6eries ; ,,of wool sales opened to-day.:: There was a large attendance': of ''Home.-.' Continental.. and American buyers. "- FinoV crossbred showed an advance,of-from's per cent.,to 74 per cent. Medium and coarse,crossbred showed no' quotable • change as comoared with closing rates of- previous 'sales." : ;

Messrs. Abraham and Williams. Ltd.; have received-'the following :cable from' their London agents,..dated .July 7:-'.' The 'fourth seriej: of sales' o'pened: to-day to a large attendance of: buyers, with the Americans onerating.;moderately. V Prices aa-compared with closing, rates of'last'series'.show' a,' rise of ;5 per cent.- for , fine . croeabred' ana merinos, with the market very'firm. The_ prices for" medium and coarse ctoes; bred areunchanged, but the- market firm.' Competition is active, for all wools., and the-prospects are • considered steady."