LONDON WOOL SALES

Dominion, Volume 9, Issue 2885, 25 September 1916, Page 10

LONDON WOOL SALES

Australian-New Zealand Cable Association. ° (Roc. September 23, 7.45 p.m.) London, September 22. The wool sales havo closed. Therp. was sold for the Home market 87,000 bales, for export 6COO bales, and held over 10,000 bales,' of wihloh half Is New Zealand. • The Russian domandis dimiriiEhinir owing to the approaching closing of Itho Archangel route. Franco took a fair quantity. ", . Fine crossbred closed firm. Prices and competition were well maintained, although the wholo series was characterised by great Irregularity. It is wonderful how large , a preponderance 'of faultics was absorbed. Compared with July closing all merino combings,' medium a.n<l inferior, havo broken all reoords, showing 7} to 30 per cent, advance'; faulty and short carbonising sorts declined 5 to "71 per cent., all scoureds were in buyers favour. Greasy orossbreds advanced 6 to YS per ocnt., best Blipes wore id., and inferior slipes slightly onoaper. -Scoured crossbreds declined Id. to 2d.; merino lambs word unchanged, and crossbred lambs a penny.There is a better feeling throughout the trade .regarding the future. There is appTchcnsioit of the Government's action In colonial markets causing hesitation, but there is no fear of a serious oollapso in values. Colonial importers are demanding improved Bhipping facilities from the colonies. ' Tlia following were the ptlccs realised for the fleece portion of the clips named:— "Kaputane,", top price 33d.. average nrice 314 d.; "Gear," top 22d„ averago 211 d.; Tikapu, top 19id.,' average 18jd. Messrs; Murray, Hoberts and Company, Limited, have received tie following ■cablegram from their London friends, Messrs. Sanderson, Murray and Co., under date September 22:—"Sales- have closed. Compared with last solo's dosing rates icerino, greasy, good,_ has advanced 5 per cent.; inferior declined .5 per cent, to 7J per cent.; scoured, good, declined 5 per cent.; crossbred, greasy, advanced 5 per cent.; scoured faulty merino and orossbrod declined 10 per cent., and very irregular; 11,000 bales held over." ■ .MINING NEWS WELLINGTON SHARE MARKET. The quotations for mining shares on Saturday were as follow.—' Buyers. Sellers. £ s. d. £ s. d. Murray Creek — -250 Talisman 0 9 0 0 9 6 Waihi ;.: 1 16 6 . . - Grand Junction- ).... 0 16 9 — Messrs. Bernard Chambers and D. E. Davis, of Hastings, directors of tho Cclussus Goldmining Development Co.. accompanied by the secretary, Mr. Arthur M'Cart.hy, of Napier, returned to Wellington, on' Saturday from a visit to the mines at Wangapeka. " The, property contains a number of valuable ,reefs, containing cold and galena, showing a very bright 'future for the company. Tho scheme of developing decided t upon should be completed in about nine months' time. " TALISMAN HEPOET. - By Telegraph—(Special Correspondent.) '■ Karangahakc, September i. Talisman reports :—"We have sent to London the following cablegram .—'No. 16 level, north drive, progress 19 feet, icef 12 inches wide, assay value, 175.; west crosscut, I off sAuth drive, progress 25feet.'" -