COMMERCIAL.

Taranaki Daily News, 24 February 1921, Page 2

COMMERCIAL.

LONDON WOOL SALES. By Telegraph.—Press Assn. —Copyright London, Feb. 22. The wool sales have opened slowly at 10 to 15 per cent, decline. At the wool sales the’re was a good attendance and 7315 bales of free wool were offered. There was a good average selection of merinos, of which 75 per cent, were sold at 10 to 15 per cent, below the last closing rates. The decline was most marked In inferior and shabby sorts. A pqor selection of crossbreds, mostly suitable for the Continent, declined similarly. There were 6199 bales offered on behalf of the Wool Realisation Association, whose reserves were slightly higher than those for free wool, and the wool was not in quite such good condition. About half were sold. The verage realised for crossbreds showed fully 10 per cent, decline. The lower sorts did not sell. The few lambs offered were withdrawn. AUSTRALIAN EXCHANGE. I London, Feb. 22. Bankers'’ consider that the Australian exchange problem Is easing slowly, and hold hopes that the position will right Itself as exports Increase from Australia, but they are of opinion that the stringency may recur in November, owing to the difficulty of working off the adverse balance of trade which has accumulated since the cessation of Government purchases of wool and wheat.—Aus.N.Z. Cable Assn. STABILISING THE SILVER MARKET. Washington, Feb. 21. It is understood that the United States has begun coining silver dollars. It will be recalled that the Uhlted States melted down 270 million dollars, producing 208 (million ounces of silver, during the war, to meet the demands of India, which was seriously’ embarrassed by lack of the metal. The resumption of coinage and ti e purchase of silver on the open American market is expected to stabilise the silver market.—Aus. -N.ZI Cable