COMMERCIAL.

Wanganui Chronicle, Volume XLIX, Issue 12643, 2 November 1905, Page 2

COMMERCIAL.

LONDON WOOL MARKET

Levin and Co. yesterday received the following report from their London house:—

LONDON, September 29. Tho fifth series of colonial wool auc-« tions for the current year commenced here on the 19th instant, and was brought to «, close on the 27th instant, baying occupied eight sittings with a daily avei'age of 10,378 bales, against 10,014 bales at the corresponding series in 1904.

The quantity actually sold was estimated at 72,000 bales, of which 35,000 bales were taken for export, including 3.000 bales for the United States.

There was an excellent attendance on the opening night, ail departmnts of th trade in Europs being in evidence. On the other hand, doubtless owing to tho somewhat miscellaneous nature of tho offerings, American buyers were fewer than in July. Merino, both greasy and scoured, were wanted, and; an all round advance of about 5 per cent, was avoll maintained right through the sales. The New Zealand merinos were not so attractive as those offered in July, but nevertheless, taking into consideration tho condition, some useful prices were obtained. Scoureds were in requisition on home trade, account, and sold up to 2s Id per lb. The offerings of crossbreds amounted to 34,000 bales, and of these a very largo proportion were slipes. With regard to greasy sorts some of the finest lots were taken for the United Stated at Is 2£d to-Is 3d per lb., about July1 prices. Average lots, on the other hand, were often 5 per cent, dearer. Medium grades ware also par to 5 per cent, up, whiio on coarse sorts the advance was fully 5 per cent., and sometimes rather more. Slipes sold very steadily at an advance of aboat 5 per .pent., fine lambs showing the greatest improvement. The expectation that prices would sl-ow an advance at these sales was fully justified by the result. Stocks everywhere are now reduced to a miniir.um, and competent authorities give it as their opinion that they have not been so low for thirty years past. This being the case, and should the general trade of the country meantime improve, it is by no means unlikely that prices will continue good through the1 next season, notwithstanding the expected increase in Australia. It is, therefore, in the interests of all that during the next.months supplies should not be crowded into the market. A great deal j^iir depeml on what happens in iTiistrarasia between now and tho end cf the year.