THE WOOL MARKET.

Taranaki Daily News, 18 January 1922, Page 8

THE WOOL MARKET.

A CHEERFUL REPORT. By Telegraph.—Press Assn. —Copyright. London, Jan. 16. Bawra has issued a voluminous report of its operations since its inception. The directors state that the tendency among the wool buyers generally has been to condemn Bawra for selling wool too slowly, but any greater pressure to sell Bawra would have excited violent, opposition and resentment in Australia and New Zealand, and the directors do not regret the consideration which, within permissible limits, they steadily endeavored to show to the legitimate interests of the wool growers of the British Empire. The directors estimate that Bawra’s merino available for sale in London will be disposed of by the end of July, 1922, but it will he to supply merinos for Antwerp and Hull markets until September or October. The last remnants of merinos will be offered in December, thus the whole of the old stock will be sold by the end of the year. Bawra’s stock of crossbreds at the end of 1921 was 1,386,94'6 bales. There is no intention to sell these within arjy period arbitrarily fixed beforehand and the directors will feel reasonable satisfaction if they are able to dispose 500.000 bales in 1922, but certain favorable indications permit the hope that they may possibly dispose of 600.000 without interfering with the upward movement of prices. Bawra will contentedly carry into 1923 the remainder of its' crossbreds, feeling quite confident that, in 1923 or early : n 1924 the surplus will be readily absorbed anil the position of crossbred wool completely rectified and cease to require my support. —Aus.-N.Z. Cable Assn.

MELBOURNE SALES. Melbourne. Jan. 17. At the wool sales there was keen and widespread competition, practically all being cleared. Free merinos advanced from 15 io 20 per cent.; burry and comeback 10 to 15 per cent.; fine medium crossbred from 15 per cent, to 20 per cent.; coarse from 5 per cent, to 7A per cent, compared with December

LONDON SALES. Received Jan. 17. 5.5 p.m. London. Jan. 16. At a illixed wool sale there was a poor selection of merinos, but they sold well at full late rates. Crossbreds o-enerally were firm, but fine and slipes were slightly in sellers’ favor.—Aus.N.Z. Cable Assn.