WOOL SALES.

Hokitika Guardian, 16 December 1924, Page 1

WOOL SALES.

AYKIddXGTON SA r.E. AVIODUNGTON, December 10. Tlu* second Wellington wool sale closed to-day. Although prices dropped 2d to 2.1 d per Hi all round, in comparison with the November sale, most of the buyers admit that the prices paid last month wore above the level of economic stability, and that this time they were very much restricted in their limits. On the whole, the tone was a healthy one. and the range prices established, if continued throughout the season, must prove eminently satisfactory to tl'i’ wool growers as a whole. Novombo r showed a rise of from .‘id to (id per Ih. on .March prices, and the fall yesterday does not represent an average of anything like one-half this increment. Despite the high prices, about 20 per cent, of the growers withdrew their catalogues, later endeavouring to effect sales with individual buyers. This, however, proved somewhat- difficult. , ,

I i r.ol lon I again was lonsid'-ralily the best buyer, with the Continent buying hero and there, and acting with a considerable amount ol caution. America was not prepared to give anything like tlu> Nov. prices and was only seeking wool of a good character.

LOAN AND MKKCANTILK BEI’OBT. (By Telegraph.—Special lo Guardian). WELLINGTON, December 16. The New Zealand Loan and Mercantile Coy., report the second Wellington wool sale of the season was commenced on Saturday evening, and concluded this afternoon. Catalogues totalling 05.00© bales were offered to a very large bench of buyers, and it was evident from the commencement of the sale that the reserves were, in many instances, above what buyers were prepared to pay. Consequently many lots were passed ill. Sensational prices wore paid at the first Wellington sale and at the subsequent sales held throughout the North Island and also at Christchurch prices rose even liidler, but at Napier on the 10th. ilist.. a setback was experienced, the market receding about two-pence per pound below the first Wellington sale. Before the Napier sale took place many valuations for the Wellington sale had been sent but were lost to growers after the valuations of the Napier sale became known and Welluglon valuations had to he amended. Many growers were, quite prepared to meet the market, but others held more optimistic views, resulting in the passing in of numerous Jots. Prices paid at the last sale are quite good, being pence above last season’s results. A lair proportion of the wool offered in the December sale, carried more condition and was not so attractive as that offered in November. America operated to a small extent, hut the hull; of purchases were for Bradford, with a fair proportion for th<‘ Continent. Bidding was slow and was inclined to he erratic, luit well distributed pieces and bellies sold tit good rates.