COMMERCIAL.

Taranaki Daily News, 18 November 1915, Page 8

COMMERCIAL.

LONDON WOOL SALES. KEEN BIDDING. By Cable.—Press Association—Copyright Received Nov. 17, 10 p.m. London, Nov. 16. At the wool sales there were spirited demands for all crossbreds and good merinos, and rat'her better competition for faulties. Prices were fully firm at full late rates. WELLINGTON WOOL SALES. RECORD PRICES. By Telegraph,—Press Association. Wellington, Last Night. A record price for greasy wool in New Zealand was made to-day, when Levin and Co. sold Southdown clips at 24'/jd at the first Wellington sales of the season. Earlier in the day Southdown wool had brought 23i/,d, a price which caused a thrill to pass through the saleroom when the hammc-r fell. Other descriptions of wool were sold at very high values, but some growers' ideas as to what the wool was actually worth in the room went beyond that, and several lots were passed in at wliat recently would have been considered phenomenal prices. There were nearly sixty buyers present, including representatives from the United States. France, Yorkshire, and the local manufacturers. The first-named paid "fancy' prices for the wool, which a recognised authority in the trade declared ought not to be taken as a criterion of value, but t'he special circumstances governed payment for such long prices for Southdowns as had been paid. The spirited character of American buying was undoubtedly due to the announcement by Mr A. Roberts (chairman of the Wellington Woolbrokers' Association!. before the sale began, when he said: "The Minister is prepared to favoumbly consider applications for permits for any wool purchased at this sale."

This was interpreted to mean that permits to export such wool would be granted. and the assurance had the effect upon prices for all wools suitable for the American market.

Following are some of the top prices realised: Southdown 24% d per pound (sold on behalf of H. Ranisli. Martinborough). W. F. McLaren, Masterton, and A. Tocker, Featherston, received 24d. Fine crossbred sold at from 18% d to 19; medium crossbred at 17d and 18d; and bellies at 10% d to 10% d.