WOOL SALES

Hokitika Guardian, 24 February 1925, Page 1

WOOL SALES

LOAN AND MERCANTILE REPORT,

(By Telegraph.—Special to Guardian)

AYELLINGTON, Feb. 23

The N.Z. Loan and Mercantile Coy. report that the fourth Wellington wool sale of the season commenced oil Saturday evening and concluded this afternoon. The combined brokers offered catalogues totalling 25.000 hales and succeeded in -selling about 75 per cent. of offering. Buyers were in full attendance, and competition was more general than at any previous sale this season. Bidding was spirited and all seconds were competed for strongly at the lower level of values recently established. The selection of wools were hardly up to the average, although some clips were in a very light condition.

A feature of the sale was tlie keen demand on behalf of tlie Continent for suitable lines of fleece pieces and bellies. Lambs’ wool met with good competition from the local mills, hut was not keenly sought after by tlie Continental section. Consequently, values ruled on a somewhat lower basis, as compared with tlie January sale. Fleece wools are from 2d to od per lb. lower, except for merino, which showed a further decline, owing, mainly, to the inferior quality offered. Oddments met with a keen demand at prices showing n decrease in value from 2d to sd.