COMMERCIAL

Gisborne Times, Volume IX, Issue 839, 13 March 1903, Page 3

COMMERCIAL

By Telegraph—Pre3S Association—Copyright London, March 11. I Wool is spirited of sale, with a hardening tendency for best classes. By Telegraph—Press Association. Wellington, last night. The Department of Industries and Commerce has received the following cable from the Agent-General, dated 11th : The wool sales have commenced. The present series includes 76,000 bales, against 54,000 bales for the same series last year. There is a large attendance of Home and foreign buyers, and active competition. The closing prices of last series for all grades of fine crossbreds were well maintained, but all grades of coarse and medium crossbreds are j-d per lb lower. The valuos of merino wool are unchanged.

From Messrs Buxton, Ronald and Co’s Colonial wool report of February 2nd, received by mail yesterday, we quote the following prices : Greasy fine to extra ll)d to Is ; greasy, fair, medium 9i-d to 10£; greasy, coarse, bright 7d to 8d; greasy, mixed, wasty o.j-d to fid; slipes,

half-bred lambs Is to Is lid; threequurter bred limbs 9d to 10£; sliped Lincoln, long 7d to 8d; Lincoln, short 6|d to fiif. The report goes on to state : “ The first series of Colonial wool auctions for this year, which began on the 20th

ultimo, terminated to-day, having occupied 11 days, at an average of 12,8(36 bates per diem against 13,127 bales at the corresponding series of last year. The salo of the 21st ultimo was postponed owing to fog. Attendance: All sections of the trude in Europe were numerously repreI sented throughout, and orders from the United States made their influence prominently feit upon occasion; but competition, particularly on the part of the Continent, lacked the spirit displayed in November. Merino wool opened rather quietly at about 5 per cent, advance on December rates for fair to good growth and condition, whereas inferior descrip-

I cuumuuii, s tions remained unchanged at somewhat irregular prices. As the sales progressed, this discrimination to the prejudice of earthy droughty wools becarao increasingly pronounced, with the result that by the i end of the first week, whereas fair middling staplo and condition continued steady at last series’ quotations, and good to superior classes were 5 per cent higher, anything at all out of condition was I cheaper by sto 10 per cent. Under these circumstances, irregularities and withI drawals were more frequent than for some time past. The tone at the end for merino wool was steady, and a comparison with the previous series arid that held twelve months ago is as follows: Greasy, New Zealand, South Island, fair character, average for January, 1902, 9d to 91d per lb ; average for January, 1903, lHd to Ib, or 27.02 per cent higher than in 1902; sooured merino, New Zealaud, fair body and color, average for January, 1902, Is to Is 6£d ; average for January, 1903, Is 9d to Is lOd, or 19.44 per cent higher than in 1902. Crossbred wools of which about 51,500 bales were catalogued, disclosed at the opening an extremely aotive market at an advance on previous rates of 5 per cent, on fine, sto 7 i on medium and 7\ to 10 per cent, on coarse qualities. Tho subsequent course of the market maintained the improvement primarily secured on good fine "Victorians, and in the ease of lustrous coarse New Zealand suitable for America, the rise was sometimes as much as 15 per cent.; but as regards the general run of middling and coarse qualities, a decided reaction occurred during the second week which resulted in the advanoe quoted at the opening being practically lost. Scoureds have met with steady support at firmer prices. The following comparison relates to the average rates paid for greasy parcels: New Zealand crossbred medium 9d to 9£d, or 80.48 per cent higher than in Jan., 1902; crossbred, coarse 6£d to 7£d, or 48.58 per cent, higher than in January, 1902 ; crossed halfbred super to Is, or 23.68 per cent, higher than in January, 1902. Sliped New Zealands, only moderately represented, participated in the rise of 5 to 10 per cent, on all qualities. Crossbred lambs were m good request at 5 to 10 per cent, advance. Export absorbed 62,000 bales or 49 per cent., inclusive of 4000 bales for the United States,”