LONDON WOOL SALES

Dominion, Volume 8, Issue 2275, 8 October 1914, Page 8

LONDON WOOL SALES

ADYANOE IN KeIaKI WOOLS. By TeleEraph—Press Association—OopjTicbt (Eec. October 7, 10.50 p.m.) London, Ootober 0. At the wool sales which were begun today, 80« bales wore offered, of which 44J5 bales wore from New Zealand. There was a huge attendance of the Home trade, and only a. few French and Americans. There was exceedingly strong competition for all sorts of crossbrocls at 10 per cent, to 15 per cent, above July closing rates, except for choicest American sorts. There was tlio keenest demand for slipes scoured, wJikih were 20 per cent, higher. ICcrinos wcro weak owing to the absenco of Continental support A selling broker jead the Government's prohibition against the export of wool to Germany and Austria, which was received with loud •■ applause. Also that tho Govornment desire it to be known that buyers of wool for exportation to other destinations nms (purchase at their own risk as circumstances may render it necessary to extend the scope of the prohibition at any moment. . ' ■ ■ .. ■

The London wool sales opened on Tuesday, and the following are the cabled artvices received by the woolbrokcrs immed:— Dalsoty and 00., Ltd., WoUlngton, havo received tlio following ;-"The sues opened

with a good selection and a largo attendance of the Home trade. Competition is animated, except for merinos, which arc 10 por cant, to 15 j>er cent, lower. Greasy lino croasbrcde ore par to 5 per cent, dca.ror, medium coaree erossbrcde 10 per cent, to 15 par cent., and scoured Elipce fully 20 per cent, dearer, and ' occasionally more. The result of the present demand is for requirements for Army purposes." Messrs. Murray. Roberts, and Co. have received tho following cablegram from Mossrs. Sanderson, Hurray, nnd Co., London, dated October 7:—"Large attcndaiico of buyers. Strong competition. Merino, good condition 10 per cent, lower, washy and inferior 15 per cent, lower; eroeebrcd greasy, fine, par to 5 per cent.; higher, medium, 7£ per cent.; coarse, 10 per cent.; ecourcd, fine to medium, 10 to 15 per cent., coarse 20 per-cent., slipe 25 per cent., Lambs 20 per cent higher." Levin and Go. were advised that merino prices wore down 12J per cent., fine crossbred.?, up 5 par cent., and other c'rossbreds medium and inferior up 10 per cent. The Bank of New Zealand hae received tho following cable advices from its London office, dated 6th inst.:—"Wool sales have opened, and comparing prices with those of last ealcs croesbreds of medium and coarse qualities arc 10 to 16- per cent, higher, and fine qualities are par to 5 per cent, higher. Slipcs and scoureds aro 20 to 25 per cent, higher, while merinos are 10 per cent, lower. Tho sales close on 13th Inst." Abraham and Williams, Ltd., have tcceived the following cablegram from their London agents, dated 6th met.:—"Tho wool ealcs wore hel dto-day to a good attendance of buyers, and prices, as compared with the closing rates of last series, aro as follow:—Mcrinoe show a decline of J5 per cent., medium crossbred show a rise of 15 per cent., while coarse crossbred have risen 12J per cent. The prices for fine crossbred are on a par with laet Bale rates." The New Zealand Loan and Mercantile Agency Company, Ltd., have received tho following cablegram from their London house, under date 6th October, 1914:— "Merino, 10 per cent, to 15 per cent, lower; crossbred, greasy, 10 por cent, to 15 per cent, higher; scoured and slipe, scarce. Extreme prices for war purposes. Strong Home competition."