COMMERCIAL.

Gisborne Times, Volume XXII, Issue 1759, 26 May 1906, Page 3

COMMERCIAL.

THE WOOL SALES.

Bjj telegraph, Presi Am’n, Cojyulght London, May 24.

At tbe London wool sales ninety thousand bales were sold for borne consumption, fifty-seven thousand for the Continent, nine thousand for Amerioe, and nine thousand were held over. The departure of some of the ebief buyers and diminished American competition caused irregularity this week. Compared with tho closing prices of Maroh sales, the boat greasy merinos remained praotically unchanged, medium and inferior five per centum higher till Monday, closiDg at par to five per centum higher. Sooureds were in stroDg requost at five per centum advance. Medium crossbreds, suitable for Amorica, sometimos declined a balf penny; fine ditto were unchanged ; topmakors' sorts closed very firm at the opening rates, but lost tbo extreme price of the middle of the series, Lambs’ wool was unchanged. Tbo outlook.is promising and there is small prospect of any alleviation of the market till the new clip arrives. Supplies for the ourreDt year are likely to be altogether inadequate at the present rate of consumption. The fleece portions of tbe following clips averaged : Motuna 101-BJ, Rakeol3:|3, Puketoi 12jj4, Okorae 13Ad, (Per Press Association.) Wellington, last night. Thu Industries and Commerce Depart-

meut lias received the following cable from the High Commissioner, dated London 2-lthThe wool sales have closed. The advance lias been partially lost. Medium coarse, crossbreds, all grades, are slightly easier. Ninety thousand bales of New Zealand wool was sold

it auction. European competition was ■cry keen. The Americans exercised

■eat caution. The trade is good, manu

facturcrs being very busy, and it is fully anticipated the present prices will be maintained. The estimated values of wool are as follows ; Fine crossbreds, all grades, Is 3d to Is sd; medium do., Is 10id to Is 2|d ; coarse do., 11.Vd to Is 2d : super or merino, Is 2.Jd to Is 5d ; medium merino, Is Old to Is 21d; inferior merino, Is Old to Is,

The N.Z Loan and Mercantile Agency Co. are in receipt of the following cable from their London office “ Wool sales closed. Market firm for merino. Market slightly weaker for crossbred, owing to purchases sufficient to meet immediate requirements. Average current value N.Z. wool: Good merino Is fid, medium merino Is Id, inferior merino 10.' cl, fine crossbred Is 8-.UI, medium crossbred Is 2.1(1, coarse crossbred (40’s) Is Id, coarse crossbred (fi6’s) Is Old. We quote present spot values of following descriptions of tallow: Fine mutton 80s per cwt, good beef 28s fid per cwt, mixed 27s 6d per cwt.'’