ADVANCE IN WOOL.

Taranaki Daily News, 13 October 1921, Page 5

ADVANCE IN WOOL.

GOOD PRICES AT HOME. KEEN COMPETITION. “LIKE OLD TIMES.” By Teiegrapli.—Press Assn “Copyright. Received Oct. 12, 5.5 p.m. London, Oct. 11. At the B.A.W.R.A. wool sale 11,672 bales were catalogued, of which 4513 were New Zealand, an excellent and representative selection. There was a crowded attendance and the competition was like old times, being the keenest since the >var, all sections competing except America. Compared with the September closing rates in London, merinos are 10 per cent, higher; fine halfbreds 10 to 15 per Cent.; medium and lower crossbreds 7 J per cent. Faulty, shabby and carbonising wools are unchanged, owing to the scarcity of water at Verviers, the principal scouring and carbonising centre of Belgium, whefg the works are practically at a standstill. This is causing keen continual demand for the best scoured merinos at a 10 to 15 per cent, ad-vance.—Aus.-N.Z. Gable Assn. FIFTEEN PER CENT RISE. STATEMENT BY THE PREMIER. VALUE OF EXPORTS INCREASING., By Telegraph.—Press Association. Wellington, Last Night. The Prime Minister (Mr. Massey) stated in the House this afternoon that he had received information to the effect that there had been a recent rise in the priee of wool amounting to about 15 per cent, on previous values, which wils very satisfactory. During May the value of ’ wool exported amounted to £18,935,000; in June the value was £118.201,000; and in July it was £37,* 208,000. WELLINGTON SALES. BETTER TONE EXPECTED. GOOD NEWS FROM LONDON. Wellington, Last Night. The Wellington wool sales . will be held on Friday. This will be the last of the season. The quantity is 7000 bales, 'as allocated by the New Zealand Wool Committee. In view of the favor- ■ able reports of the market as contained I in Press and private cablegrams, it is ■ expected a much better tone than was ; recently anticipated will be noticeable. ' The following cablegram was received 1 from London to-day, dated October 11, by the Bank of New Zealand from its London office:—Sales-have opened With offerings of B.A.W.R.A. wools. There is-strong competition from a large attendance of buyers, ahd the demand for all kinds of wool is good compared with the close of the last series. Prices Tor co&rse crossbreds are higher by £d to Id per lb., medium crossbreds Id to l%d per lb. higher, fine crossbreds l%d to 2d per lb. higher, all kinds of merinos Id to l£d per lb. higher.

The New Zealand Loan and Mercantile Agency Company, Ltd., received the following cablegram from their London office: “London wool sales opened on the 11th; full attendance; spirited competition by Home and Continental buyers. Prices, compared with closing rates at preceding series, higher by 10 per cent, merino and fine crossbred, 5 to 10 per cent, medium and coarse crossbred.”