LONDON WOOL SALES

Dominion, Volume 9, Issue 2823, 14 July 1916, Page 8

LONDON WOOL SALES

_ : BUOYANT"- MARKET : / 'V " - V - VAnßlralian-NeiTi Zcaland Cablo Association. 1 . - . J London, July 12. j-There was\.akmoro~.: buoyant and ■. coil-, y. v Jfident tone' l at-the-wool sales than at" tho' v One important disturbing ole- : ; ' imont was removed early in the nfter- ■ ,-xooii.::. ". ' .'. •' ... • ■ J Merinos showed a further hardening . _ tendency. There ms excited competition,- ;> the' prices exceeded all expectations,' owing' to scarcity. of, supplies and V ; partly to the better ...selection than at 'i~the opening. The catalogue included . , _-2SOO bales of merinos.' ' !V.»; : . The settlement • favourably f-;there was better competi- , "tion.' Prices' were unchanged! The ank--iety noticeable -at the, opening ,has al- ( ..'is •, felt ..that what-' > i' : S'dftiSions/Sre' taken' regarding; !. policy- regarding; English■.woohis-iioSv'settled'in accordance; Vivith'vthe Government's'intentions' tojfro-' Tide:its own and the Allies' requirements! ' ati,jeiisonable rates and to have two or' three years': stocks available for (levelopments after, the .war in- England.. lie- : specting colonial clips, it is uo„ longer expected or believed that the, next move \ ■ ivill' come .from'.'.the -Dominions. '• It is . understood that Mr. Hughes lias formu- ' • iated a scheme for submission to the Australian Government,,but probably, not .jvhat he first designed, namely, the Bri- ;: ' ,tish .Government's order for the purchase h: ' yi}f the entire Australian clip. The wool ) •'jfignres' being - publislied to-day are at-,. r . attention. They show that Aus-' T' ':';tralia ; last s.eason, to Juno 15, exported 607,103 bales to Amcriea, Italy, and' L : . .japan, - compared with GG7,214 '. bales sent' to Biitam to~April 18. = The following prices were realised:— .Gibb, top, 30id., average 25d.; Conapairs, | „top. 10d., .ive'rage. 18Jo.New Zealand: • Angi, top 17id., average 16 7-Sd.; Heao, .fop. 16d., average lCd.; Kaputoni, top ■ ' ,ii4id-> average 32 l-Bd. ' : The'i'armers' Union hadjeata deputato JJ tvTorster. to urge That, it would ■ ibe fairer to'take' 1915 as a basis, for, the : '.Government, purchaser price for thiejEng-' ■ : - , Jish clip. The deputation protested that ~a 30 per -cciit. .advauCe on the.'prices of; ifr-x-JSUriras much beloiy; the present value.; fc/V - : -„The result of the conference -was that-Mx.; ';. .; Jilorster announced that the Government' .n-ould'pay an additional 5 per cent. It - ..was an open secret that the only.alterna- . ■ ,tive to the Government scheme would be ito pay the farmer full current value, .and exact the GO per cent, excess profits ! ' -tax,'from which the proceeds liave been Especially exempted. ,Tho settlcmont was ' Jtnown before the sales reopened, and re- , suited in a firmer tone and a better -~ all round. ''. -iPBKCENTAGE OF RISE ON PRE-WAR . . PE-IGES. fv":' . London, July-12.. ' C Mr. H.' W. Eorster,' (Financial S'ecre-' i. : '{ary to'.'the . War Office), stated in: the;, i; ;.. iloiise of tlie:;percentage;' on nre-war • wool- prices -had ■ increased to- ! '35. '• .