THE LONDON MARKETS.

Gisborne Times, Volume XXV, Issue 2060, 11 December 1907, Page 5 (Supplement)

THE LONDON MARKETS.

N.Z. LOAN AND MERCANTILI AGENCY’S IMS PORT. The Gisborne manager .of tho N.Z Loan and Mercantile Co. Ltd. Ira: received the following.detailed report from the Co’s London branch, unde; date October 24 th : AVoal.—Tho sth series of Londot wool sales commenced on 24th -Sen iember terminated on 4th just. A) sections of the trade were well re presented throughout, while cpnipe iltion was general and active, tin bidding on French account particularly being more animated than ii July,—-Value for merino, which at The '-opening marked an advance oi about 5 i>er cent., under the stimulus of a keen demand /from America, English and Continental buyers, subsequently further hardened and at ,-tho close best grades ruled 10 nor cent dearer, the improvement in the case of heavy conditioned Now Zealand in the grease being particularly . pronounced. Fine crossbred followed a like course to merino and closed 7i per cent to 10 per cent higher, whilo coarse greasy, the selection of which was mostly indifferent, showed hut little change. In medium greasy

qualities with an irregular enquiry some weakening was apparent but, with a better tone during the last few days values at the close were but little below preceding series closing rates, scoured and slipo medium and coarse crossbred ruling par to 5 per cent dearer. Merino lambs met a read sale at an advance of 5 to7J per cent while crossbred, ns the resulfc of a strong Continental demand marked an appreciation of 10 per cent. Of the 95,600 hales catalogued some 84,000 bales were sold, of which 35,000 bales (including 2000 bales on Amorican account) were taken for export, 7,500 bales being held over for future disposal. Tho market lias since been very firm,' trado conditions in tho manufacturing centres continuing satisfactory.