COMMERCIAL.

Horowhenua Chronicle, 23 March 1910, Page 4

COMMERCIAL.

i LONDON WOOL MARKET. Dalgcty and Co. report :-Tho first series of colonial wool sales for the current year which opened on 18th ultimo, was brought to a close last Friday (4th instant), no sale having been hold on the 27th ultimo owing to fog. JJTlie quantity sold amounted to 17/5,000 bales, of which the Home trade took 80,000, the Continent 83,000 and America 12,000 bales. "In addition to the above, about 2,500 bales Punta Arenas and 1000 bales River Plato wools were'catalogued, and sold at 5 to 10 per cent above November-December rates. "As mentioned in our last circular, the sales opened with a strong demand, but with the exception oi' medium and coarse cross-breds in average condition, which were respectively 7} and 10 per cent, above December closing rates, quotations showed little change from last sales. This state of things has continued practically throughout, though the tendency has been rather against the buyer, anil as compared with the close of the November-Decem-ber series, wo quote final prices sis follows:— "Merinos—Super qualities, unchanged ; other descriptions, par to o per cent. higher; except broadhaired Adelaides .in heavy condition, par to 5 per cent, lower. "Cross-breds—Fine, unchanged ; medium and coarse bright and light suitable for America, unchanged; medium, average condition, 7£ per cent, higher; coarse, 10 per cent higher . iipes—Fine, unchanged; coarse 5 per cent, higher. "Lambs—Merino, good length and free, 5 per cent, higher; Merino, short and faulty, unchanged; cross-bred, 5 per cent, higher. "Attendance of buyers has been large and competition keen throughout, closing prices being at the highest point of the series. "A feature of the series has beon the strong demand for merino wools of really fine-haired quality, and for such high prices have been paid. Super lambs wool has also been well competed for and as much as 2s 4d per 11) was made for 4 B/- greasy lambs of the "E. 0." clip, while for washed, up to 4s Old per lb was realised, 13 15/- "Langi Willi" being sold at this price. "American buyers, who were present in considerable force, confined their attention almost entirely to crossbreds, and, during the early days of the series, exercised considerable discrimination in their purchases. After .the close of the first week, however, they operated with more freedom, especially in the coarser qualities. "The new clip from the North Island of New Zealand has been well represented in the catalogues, and is, generally speaking, well grown, clean, and in rather lighter condition than last season. "The West Australian wools have again met with keen competition, and frequently made rather higher prices than in November-December series. The continued improvement in quality and condition of these wools is most gratifying, and owing to a good season mushy and earthy fleeces are less noticeable than usual. "Arrivals for netft series, which commences on Bth March, amount at present to about 50,000 bales net, and it is difficult to form an opinion as to the ultimate quantity that will be available. The limit has been fixed at 175,000 bales, and probably the final total will be sonipwlfere in the neighbourhood of this fiaure, about half of which seems likely to be composed of New Zealands. Present prospects point to a steady market and a maintenance of rates for both merinos and crossbreds." j——■WMl