LATE COMMERCIAL

Southland Times, Issue 18837, 2 June 1920, Page 5

LATE COMMERCIAL

LONDON WOOL SALES

A HEAVY DECLINI

(By Telegraph.— Press Assn. —Copyright.) (Australian and N.Z. Cable Association.)

LONDON, May 31 (Received June 1, S.o p.m.)

Following on the recent declines in prices at the London, provincial, and Antwerp wool sales, the trade generally expected that the London auctions opening to-day would produce lower rales, but the extent of the decline (5 to 20 per cent, below th* last London sales’ closing rate?) exceeded all anticipations. 11,021) bales were offered, of which 2707 were. New Zealand, and the selection was fairly representative. Ihero was a large attendance, but bidding was very slack. The Yorkshiremen would not buy Merinos, and Continental buyers operated sparingly ia them at an all round decline of 15 to 20 per cent. Fine crossbreds met with slow bidding at 10 to 15 per cent decline. Medium and low grades found better support at about 5 per cent, decline. New Zealand wool from the Struan clip made 41d.

FOREIGN EXCHANGE,

LONDON, May 31

(Received June 1, S,i p.m.i Par. May 27. May 31. Paris (fr.i 23.22 .51.25 50.05 Christiania (kr.) 18,10 21.55 21.03 Stockholm (fr.18.15 10.20 18.08 Calcutta (rpe.' 1 11 251 2oi Montreal (rio!.> 4.55 4.35 4.25 New York (rinlJ 4.86 3.893 3.BSJ The fluctuations are mainly speculative.

LONDON METAL MARKET.

LONDON, May 31. (Received June 2, 1.10 a.m.) Copper, spot, £95 5/-; forward, £9B 15/-. Electrolytic, spot. £105; forward, £lO7. Lead, spot. £39; forward, £4O. Spelter, spot, £44; forward. £46 15/-. Tin, spot, £275 15/-; forward, £2BO 5/-. Silver —57 id per ounce.