London Wool Sales.

King Country Chronicle, Volume IV, Issue 299, 1 October 1910, Page 5

London Wool Sales.

The following cable was received from the High Commissioner on Wednesday regarding the opening of the London wool sales:—"There is great competition between Home and Continental buyers. Americans are not bidding. The market shows signs of strength on account of the small supply. There are 68,200 bales of New i Zealand wool catalogued. Merinos are j at id, fine crossbreds of all grades icl, | medium crossbreds of all grades £d, j coarse crossbreds of all grades are Id [ dearer than at the closing rates at the ! last sale. The estimated values of : New Zealand wool at the close of the j fourth series of colonial wool sales held in London on July 27th was: Superior merino, Is Id to Is 3Jd; medium merino, 10£ d to Is OJd; inferior merino, 7|d to lOd; fine crossbreds of all grades, Is lAd to Is 4d; medium crossbreds, lid to Is Id; coarse crossbreds of all grades, B|d to lOid." The New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house:—"There was a good attendance at the opening of the wool sales, competition by Home and Continental buyers being active. The opening catalogues were fairly representative. As compared with closing rates at last series of sales, prices ruled about par to five per cent. higher for fine crossbred, five per cent, to seven and a-half per cent. higher for medium crossbred, and about seven and a-half to ten per cent. higher for coarse crossbred. For merino wool the market is firm, with an upward tendency." The Bank of New Zealand has recieved the following cable from its London office: —"The wool sales have •opened with strong competition and large attendance of buyers. Thera is an active demand by Home and foreign buyers. The market is strong for all kinds of crossbreds; prices are higher five.per cent, to seven and a-half per cent- Slipes, inferior; prices are higher live per cent, to seven and ahalf per «ent. Slipes, superior, no , , change. The market is good for all kinds of merinos." A Press Association cable states that the sales opened to animated competition at from par to 7jj per cent. higher rates.