WOOL MARKET.

Taranaki Daily News, 13 January 1921, Page 5

WOOL MARKET.

POOR SALE AT LONDON, , .RESERVES TOO HIGH. PROTEST BY BUYERS. By Telegraph.—Press Assn..—Copyright. Received Jan. 12, 5.5 p.m. London, Jan. 11. At the wool sales 10,131 bales were offered, including 1356 bales of New Zealand wool. There was a large attendance of Home, Continental, and United States buyers. The sale was a failure, owing to the Government reserves being far above buyens’ ideas and world values. Under twenty per cent of the catalogue was sold, generally at prices on a par with the December closing rates. Sir William Raynor, president of the Buyers’ Association, publicly protested against offering wools without any attempt to meet the market. Hfe demanded either that the sales be stopped or that* sellers meet the market. About three' thousand bales of free Puntas wool from the Falkland Islands were offered and met with good competition. Seventy-five per cent was sold at about the December rates, sellers meeting the market when necessary.—Aus.* N.Z. Cable Asten. THE AUSTRALIAN SCHEME. Received Jan. 12, 7.30 p.m. London, Jan. 12. The Australian Press Association learns that though there is unexpected delay in ratifying the wool realisation scheme, there is little doubt that the Imperial Government will accept it, but certain British interests are asking for a fuller explanation regarding the scheme.— Aus.-N.Z. Cable Assn. USE OF SAILING SHIPS. By Telegraph.—Press Association. Christchurch, Last Night. The North Canterbury Freezing Company has arranged that in a month’s time or so sailing ships will be available for the conveyance of wool to London.