COMMERCIAL.

King Country Chronicle, Volume VI, Issue 432, 20 January 1912, Page 5

COMMERCIAL.

LONDON WOOL SALES. ADVANCE IN CROSSBREDS. By Telegraph.—Press Association.— Copyright London, January 17th. At the wool sales 9314 bales were offered. There was a capital selection of wool, and a large attendance of buyers.

The competition was spirited, the Yorkshire and German buyers competing keenly. Prices for merinos were unchanged. Crossbreds sold at 5 per cent, above December closing rates.

This afternoon's sale was animated, and prices were firm at opening rates.

The manager of the Bank of New Zealand has received the following cable from the London office: —"The wool sales have opened with strong competition, and large attendance of buyes. Total net quantity New Zealand available, 45,000 bales. New Zealand offerings are not at all representative. Good attendance of American buyers. The market is strong for all kinds of wool. Prices are higher, par to 5 per cent." in connection with the present series of sales the New Zealand Loan and Mercantile Agency Company, Limited, have received the following cablegram from their London house, under data lGth inst."There was a good attendance at the opening of the sales to-day, competition by American buyers being restricted, and prices, as compared with the close of preceding sales, ruled about the same. As compared with last sales' closing rates, prices are about the same for merino; higher about par to 5 per cent, for crossbred."