COMMERCIAL

Gisborne Times, Volume XXVII, Issue 2614, 23 September 1909, Page 5

COMMERCIAL

LONDON WOOL SALES. United Press Association —Copyright. LONDON, Sept. 21. The wool sales opened brisk, with a 15 per cent, advance. (Received September 22, 11.50 p.m.) LONDON, Sept. 22. At the wool sales Buxton and Company and Balme and Company offered 6790 bales, whereof 5344 were New Zealand Very inferior selections. There was a crowded attendance, with excited competition from all quarters, especially; the Americans, who were freely taking greasy crossbreds. Compared with the closing rates of the July sales, merinos advanced 10 per cent, and crossbreds 15 per cent. The New Zealand Loan and Mercantile Agency 00.. Ltd., yesterday received the following cable from their London office, re wool: “There was a full attendance at the opening' of the sales to-day. The opening catalogues were fairly representative, competition by Home, Continental, and American buyers being active. As compared with last series’ closing rates, prices are about 5 per cent to 7-J per cent higher for merino, and about 10 per cent to 15 per cent higher for crossbred.”

fPer Press Association.l WELLINGTON, Sept. 22. A cable from the High Commissioner, dated September 21, states: “The wool sales have commenced with a very brisk demand, and there is a great competition between American and Continental Supplies will be moderate. The market has advanced fully Id on the average closing prices of last sale.” BANK SHARES. United Press Association —Copyright. LONDON, Sept. 21. Bank shares: New South Wales, buyers 47, sellers 48$. The rest are unchanged. PRODUCE MARKETS. [Per Press Association.! CHRISTCHURCH, Sept. 22. The wheat market is in much the same position as during the last six weeks, the volume of business continues to be very restricted, while prices have not appreciably changed. First holders of wheat, who are not now many, are still sanguine that prices will improve later in the season, and they consequently refuse to accept the prices offered by merchants. So far the millers have not come on to the market, except to a moderate extent, but it is believed that since few extensive purchases have been made for several months their stocks are. now becoming depleted, and it is extremely doubtful whether they can much longer abstain from purchasing supplies. In the meantime they and the holders appear content to wait developments, with the result that practical!- no business is passing. . Oats continue to come forward m limited quantities, but the tone of the market is distinctly firmer, although there is no quotable change in values. During the current week several parcels purchased some time ago will leave for London, and it is believed these will practically exhaust shipments for the present season, unless there is improvement in Home values, merchants recognising that it is impossible to do business witli the Mother Country while prices remain as at present. In barley some active business has been done, the spurt in the market being due to the fact that brewers recognise that the area dovoted to barley this season is considerably below last year’s. Sales made recently have been on the basis of 2s 9d to 3s 3d on trucks at country stations.