London Wool Sales.

Horowhenua Chronicle, 20 November 1913, Page 4

London Wool Sales.

Dalyely and Company Limited report as follows, under date of London, lOth October:— The fifth series of wool sales for t lie current j'ear, which opened in London on the 2ord September, was brought to a close on the Bth inst. The offerings totalled 154,470 bales. Of "the above quantity some 140,000 iTalies have been sold as follows:—80,000 bales to the Home trade,, 56,000 bales to'the Continent, and 40.G0 bales to America, leaving- some •)G,OOO bales to be carried forward to the next series. Of this last total about 80,000 were not offered, the bulk, of which were JS T cw Zealands." In addition to the above cjuairtities, there, were sold ab0ut—.1.3,250 bales Punta A?.i3nas wools, 2,750 bales Jtolklaiul Islands avools, 1,500 bales Monte Video and lliver Plate wools.; Aα

we mentioned in our last report, the sales opened with a large attendance oi ! buyers' and brisk competition, prices being about on a par with last sales' rates, except for slipes, which showed a decline of 5 per cent for the iine and medium equalities. As the sales progress a hardening tendency was manifested; slipe wools recovered their lost ground, • and with the exception of heavy, earthy, and wasty parcels of merino wools, we are able to report all descriptions very firm to rather deaier as compared with the July series. We quote : —Merinos in grease, medium to good, fully par: heavy conditioned, 5 per cent: lower; merino's scoured, of good quality and condition, a change, if any, in sellers'" favour; faulty descriptions, 5 per cent, dearer; crossbreds in the grease, iine quality, par to 5 per cent, dearer: medium and coarse, 5 per cent dearer; scoured, selling irregularly, par to 5 per cent lower; slipos, par; lambs, par. With the large quantities of crossbreds available, a slight decline in prices for this kind of wool would not be surprising. . It is therefore the more satisfactory to find the trade m a position to list such a big weight, and this augurs well for the last series of the year, commencing 25th ,No-

yember, when smaller supplies will be available. Owing to the moderate quantity of merino wool in sight, a good demand was expected for this, and these hopes were fully borne out by the excellent Avay iii which the bidding for some of the second-hand pardels, of which there wen; a good many oit'ering, and also, as we have, mentioned above, in the heavy-conditioned merinos. On the whole, however, the result of tlii« scries can only confirm out belief in the soundness of the position of the raw material.

The Homo trade and France were the largest buyers, Germany showing a μ-ood deal of caution, whilst I lie. few American buyers present did not operate to any great extent. It is satisfactory however to notice more enquiry in the United States than has lately beer in evidence, and with the "free wool , ' tariff coming into force on the Ist December, it should, be no distant date before America is an increasingly large competitor over a more extended area.