COMMERCIAL.

Gisborne Times, Volume XXVII, Issue 2549, 9 July 1909, Page 7

COMMERCIAL.

*?§ THE WOOL SALES. United Press Association—Coi’Yuioirr. LONDON, July 7. There was a good sale. Opening rates were fully maintained, and there 'was spirited competition. Good wools of a shabbier sort were rather slow of sale. At the tallow sales 1870 casks were offered and 753 sold; low to medium qualities 'advanced 6d. v c ■' . ■ LONDON MARKET. (Received July 8. 11.20 pirn.) , nONDON, July 8. Copper, spot £SB 6s 3d, three months £59 2s 6d, oletrolytic ±:G0; tin, spot . £l3l 5s Id, three months £132 15s : X lead,, £l2 17s 6d. (Per Press Association 1 AUCKLAND, Jay 8. On inquiries being made amongst Auckland wool brokers to-day, it was ascertained that the latest cables in regard to the London wool sales had not aroused any very great surprise. The present sales came at the tail end of the season, and all the best shipments had previously passed under the Hence the statement in the cables Tpdblished this morning that “a rubbishy selection wars offered,” is nob likely to be taken very much to heart by New Zealand and Australian growers. Both in the Commonwealth and the Dominion a vast proportion of the wool is sold" locally, and those growers who send Home direct to the London tsales disposed of their best lots much earlier in the season. The Now Zealand Loan and Mercantile Agency vjo., Ltd., are in receipt of the following cablegram from their London office under yesterday’s date: “There was a full attendance at the opening sales to-day. ' Competitions-by Americans was good. Fairly representative catalogue. .Position of the market about the same, except for crossbred shabby and wasty, widely is easier. Crossbred slipe is 5 per cent, lower.” Messrs. Williams and Kettle, Ltd., are in receijit of the following report from their London agents, undeix date, May 28, 1909:—The third series of Colonial wool' scales, which commenced on the 4th inst., terminated on the 21st inst. The total quantity offered amounted to 179,300 bales, of which about 84,000 hales have been taken for export, including 23,000 bales for America. The feature of the auctions has been the very strong demand oil American account for both merinos and crossbreds, whilst there has also been a greater widening in the range of qualities purchased than has been usual in the past. Very extreme rates have been paid bv the American section for wools coming within theirs cope, consequently unusually large discrepancies have been noticeable in rates paid for wools showing only slight variations in quality and condition. At the outset Australatian merinos were about 5 per cent, dearer, but under the influence of American competition good greasy descriptions quickly improved a further sto 7\ per cent. The better kinds of scon reds also participated in the general rise, but inferior and faulty lots remained at about last sale parity. In the case of crossbreds, here again America has dominated the market, and for lots coming within the range of her requii'ements values are mostly 15 to 20 per cent, higher The general run of fine and medium descriptions have risen 10 per cent., whilst coarser grades, which, at the opening, were about 5 per cent, higher, improved a further 5 per cent., as the sales progressed. Sooureds and slipes have met with a good demand at 5 to 10 per cent, rise. As compared with the closing rates of March series, we quote the following changes:—Greasy merinos : Fine or superior 1-Jd up, medium Id to uja. inferior or coarse fd to Id up. Scoured merinos: Fine or superior Id up, medium up, inferior or coarse par to |d up. Greasy crossbred: Fine or superior Id un. medium Id to 2d up, inferior or coarse Id up. Scoured 1 crossbred: Fine or superior Id up, medium (d to Id up, inferior coarse (d to Id up. Slipes: Fine or superior Id 1 to Id up, medium id to Id up, inferior* or coarse id to Id up. It would appear that the future of . the market to a great extent will depend on America. 1 If thew continue to operate freely prices 1 must be maintained and possibly ap- 1 predate further, but if they withdraw 1 .then some setback wil Itake place to : bring the market more into line with 1 values Bradford and tile Continent are willing to pay. On the other hand seeing that supplies of raw material are like!-- to be light for the remainder of the season, this should keep the market fairly steady. FROZEN MEAT. Messrs. Common Shelton and Co. have received the following cable from their London agents: “Mutton consumption is increasing; large stocks on hand, we do not think excessive. Prospects are rather more encouraging. Lamb: Very large stocks on. market; in consequence of heavy arrivals mar-, ket is utterly depressed, and is likely to remain so ; the discharge is greatly impeded by no warehouse room to be had; in the present unfavorable state, of the market it is almost impossible to effect sales. Beef market is good. We expect the present prices will be maintained, owing to drought in the Argentine.”