COMMERCIAL.

Gisborne Times, Volume XXV, Issue 2106, 14 June 1907, Page 2

COMMERCIAL.

LONDON; WOOL SALES.

Messrs. Williams and Kettle, Ltd., are in receipt, of the followiug advice from their London agents, dated dre, Mav: The third series of colonial tool sales for the current year commencec. on the 30th ultimo, with a large attendance of home and foreign buyers, ami competition was fairly animated. O i the opening night some 9600 bale!, were offered, of which quantity 718 J I bales comprised New Zealand descrip*tions; the selection, however, was f. somewhat indifferent one. Prices for merinos, both scoured and greasy , showed little or no change upon those ruling at the close of the March series. In the case of crossbreds the finer qualities also maintained March currencies, biit the medium and cor.rser grades marked a decline of 5 to / per cent., the greatest depreciation being noticeable in the case,,of heavy anil washy lots. In view of the gene,'ral trend of the market during the past, few weeks the result is about what was generally expected. Seeing also that the wool sales this seas cn has come forward rather earlier than usual, aud also bearing in mind that the direct importations have to be taken into consideration at thin time, the result might have been worse. There seems little doubt thaU the fashion has now turned distinctly in favor of merinc-s, and therefore, although the quantity of greasy crossbred* w-00l available 'after the present series will be small, it appears improbable that any material recovery will take place, and a maintenance of present rates is about what may be expected. Slipcs and. seoureds are about 5 per cent down. The subsequent sales have generally fully confirmed the opening rates, but'in the case ot: .medium quality crossbreds the market; has shown some further -weakness, land values must be quoted fully 71 per cent, to 10 per cent, below March: parity. As at present arranged, the, series will conclude on the IGtlninst., •hut as withdrawals are. now being; made somewhat freely, curtailment 5s hot improbable.