COMMERCIAL NEWS

Hokitika Guardian, 16 March 1921, Page 3

COMMERCIAL NEWS

5 I WOOL SALES SLUMP. [by TELEGRAPH —PER PRESS ASSOCIATION] DUNEDIN, March 15 The first wool sale held in the Dominion since the waterside trouble, commenced lfere to-day. The sale was to have been held on the 21st ultimo, but was postponed on account of the waterside trouble. Meantime wool has evidently slumped enormously, as to-day bidding was erratic. Some lots disposed realised above the London parity, while many others of equal quality were neglected. Altogether the proportion sales was approximately 10 per cent of the offering and prices compared with those realised at January sales showed a decline of 30 to 25 per cent. Lower grades of wool show even greater do- t (•line, inferior hollies selling lit Id to l:,'d per Ib, compared with 3d and l)d In January, and locks sold at a half-penny to lid per lb, compared with 1 Ail to Id In January. DUNEDIN WOOL SALES. DUNEDIN, March 16. - The Wool sales were continued. The New Zealand Loan aiid Mercantile * ffered 2,200 bales, find sold about tmefourtli. There was no sign of a revival in the market, but this firm happened to have wool suited to the local mills, viz., best merinos and half-breds, that being the reason for the relatively high proportion of quittings. The highest price was 223 d for four bales of ewe and wether; half-bred cross-broils are again languishing. It is obvious from the tone of the sales that buyers see no further restrictions from home. |