COMMERCIAL.

Stratford Evening Post, Volume XXVIII, Issue 8, 8 September 1915, Page 7

COMMERCIAL.

LONDON WOOL SALES. E The N.Z.L. and M.A. Co. report from London under date 26th duly:— Wool.—The sth .series of London .. sales terminated on' 24th inst. Ihe j programme as originally fixed extend- , ed to 31st inst., hut, notwithstanding ] the steps taken to limit the daily of- , ferings owing to the difficulties ox- ( perienced hy warehousekeepers m j handling the wool, arising from the ( continued congestion at the docks and the inability of the railway companies !to cope with deliveries, the closing of | the series on the date named was nn-j auimously decided upon by tlio coni-j mittee of the Colonial _ Wool Mer- ( chants’ Association as being in the interests of all concerned. As the result of the curtailment a considerable number of shipments, which-in norma! cm - cumstances would have hem during the final week of the sales bao the original programme been earned out remain on hand —the total yuanhandling the wool, arising iiom bhe 172,000 bales. While the sales opened with a strong tone at advanced prices for most descriptions, save for the best merino and fine crossbred, this position was not maintained, considerable irregularity j in the bidding subsequently becoming manifest, particularly for medium andj coarse crossbred, with the result that vahte gave way, a slight recovery,! however, taking place during the lash few days. Afnerica operated but sparingly, but considerable purchases were made on account of the Allies Governments, the finer grades of crossbred particularly benefiting by , competition from France, and the best scoured merino by that from Russia.! The situation as regards the Home trade has become a difficult one, as owing to the inability of machinery to cope with the large purchases al-j ready made, considerable delay' must! bo experienced before Che wool can converted into money' —a factor which, owing to the present high prices of the raw material, has undoubtedly 7 occasioned considerable financial stiiugency, causing buyers, for the time being, to “go slowly.” With a prolongation of the war, the enormous clothing requirements °f the Allied armies will have to bo met, and i i such case a keen demand and tl.c maintenance of a high level of values would appear for some considerable time to come to be ensured. The position of certain leading descriptions as compared with the close of the 4th series is as follows:—Merino: Greasy super 10 to 15 per cent, higher, greasy medium per cent, higher, greasy inferior 5 per cent, lower scoured super 10 per cent, higher, 1 , scoured medium 5 to 7) per cent, higher, scoured inferior 5 per cent, lower, i j Jambs par. Crossbred: Greasy 7 fine pai jto o per cent.* higher, greasy (medium and coarse) 5 to 7) per cent, lower, scoured slipe 10 per cent, lower, lambs 5 to 7) per cent lower. Sixth Series London Sales.—Hie • quantity carried forward reached speb 1 a large total, it was arranged that the j 'list of fresh arrivals for the 6th series s to commence on 7tii September be . j closed on 2ftb List . instead of 17th , August as originally fixed. The quantity to be dealt with a.t next auctions, inclusive of that remaining on hand 'from sth scries is about 192,500 bales I net.