LONDON WOOL SALES.

Patea Mail, 20 November 1880, Page 3

LONDON WOOL SALES.

The New Zealand Loan and Mercantile Agency Company’s London Circular of October Gth says : —The third scries of sales which commenced on 17th August was concluded on 25th September, having occupied 35 sittings. The available arrivals and quantities cataloged were: Australian colonies, 326,216 bales arrived and 291,324 catalogued. New Zealand sent 89,886, of which 83,735 were catalogued It is estimated, inclusive of unoffered and bought-in wools, 35,000 bales have been held over for future disposal. Foreign competition has been sufficient to absorb about 160,000 bales, German and Belgium buyers operating with more freedom than French, while no purchases directly on American account could be traced throughout the sales. Buyers met sellers on 17th August, although in considerable numbers, yet without much competitive spirit. Home dealers complained of being unable to effect a clearance of stocks, while foreign and especially French operators freely gave expression to their inability to sell at remunerative rates those combing and other wool, for which they had so eagerly competed during the earlier days of the April June sales. The obvious result followed : consider, able withdrawals ; great irregularity in prices, and a decline in values for lots sold ranging from kl to 1A per lb. on June closing rates, according to quality and condition. The succeeding catalogue being more varied, at once enlisted better competition; and a slightly favorable reaction in values

ensued. Before the close of the first week the initial decline, which was less pronounced in the case of shafty merino sorts, was lost. Throughout the second week the hardening in values became more general, and the abstention of the French contingent less marked. The moderate values realised for cross-bred descriptions attracted the attention of foreign operators, and as the sales progressed the situation as regards sellers became more favorable. Probably during the two concluding weeks of the sales the most animated competition and the highest prices were witnessed. The quotations at the close for Australasian sorts may be summarised as follow, the advance being on June rates; — Combing merino grease, k to Id per lb,adv Combing merino washed, Id to lAd „ adv. Hombing merino scoured about Id „ adv. Clothing merino grease, No change. Clothing merino washed, do. Clothing merino scoured, do. Fine cross-bred washed, -Ad to 1A a lb, adv. Scoured or greasy, do Coarse do do, par to Ad ~ decline Merino lambs free from fault, no cliang® Do. do faulty, Id per lb, decline Cross-bred do, par to Ad. „ ~