COMMERCIAL NEWS.

Hokitika Guardian, 1 March 1921, Page 2

COMMERCIAL NEWS.

HIGH COMMISSIONER’S REPORT. WELLINGTON, February 25. The Department of Agriculture lias received the following cablegram, dated London, February'22nd., from the High ' f Commissioner for New Zealand: The London wool sales commenced yesterday with free sales, at which 4703 bales of Australian, 585 bales of New Zealand and 1887 bales of River Plate were offered. There was a good attendance, but bidding was irregular. Th e general tendency showed a reduction on last sale prices of 10 per cent to 15 per cent. Merinoes and fine medium eross-breds showed a reduction of 10 per cent. Coarse eross-breds x\ ere not well competed for. About 85 per cent of the offering was sold at the Government sales which followed. A good representative selection was brought forward, including 4800 bales of Australian and 1300 bales of New Zealand Competition was hesitating and prices generally were 10 per cent to 15 per jent below those idealised at last Go- „ ,-eminent sales on January 21. Though it a induction, about 62 per cent of die offering was sold. New Zealand may be quoted as follows:—36'?; to 10’s (coarse eross-breds), 74d to Sd ppr b; 44’s to.46’s (medium eross-breds), !,pl to 9d per lb; 48’s (fine efs*ss-breds) l.pl to 1 Old,per lb; 50’s (half-breds) I’d ,i) Is Id per lb; 56's (luilf-breds), Is 2d o Is 4d }ier lb.