COMMERCIAL.

Taranaki Daily News, 7 September 1916, Page 5

COMMERCIAL.

LONDON WOOL SALES GOVERNMENT NOT BUYING COLONIAL CLTg. m Received Sept. 6, 5.5 p.m. ' | London, Sept. 8- * At the wool sales 8229 bales were}> catalogued, whereof 3121 were from NeWI Zealand. There was a very large at* tendance. A very inferior selection was offered for competition, which was somewhat slack. Best erossbreds recovered! Vd to Id from July elosing rates. Slipea were very firm, with merinos and alt other sort* <uiohangcd. There was a, decidedly raov. tamdul feeling for cross* "oreds, mainly „:.?»use during the lasfj few days the Qt..anient had commenced) to make deli vale, of the English clip, which, brought tc-irw levels than the cur* rent rates fo:. soionial wool, to every* body's surprise. The invoices show that( the Government was charging about 4dl per lb more' than the maximum ratea paid to tlie English farmer. This natm rally enhances the value of all colQniat wools, and is causing a reaction. | In reply to the Colonial Wool Mer« chants Association's inquiry to the Board) of Trade, the director for army con* tracts writes that tho Department afl present has no intention of buying coloni*. al wool clip. Tho position as regard! tlie supply of wool, however, is beini carefully watched. Notice will he givej to the trade of any action decided uponj • The New Zealand Loan and Mercan-t tile Agency Co., Ltd., Stratford, yester* day received the following cable from their London branch:—At the wool sales there is good demand, as compared with July 28. Merino fine crossbred ara unchanged; greasy medium, coarse, 5 per ceut. higher; slipe scoured verjj firm.