COMMERCIAL.

Gisborne Times, Volume XXVII, Issue 2673, 1 December 1909, Page 2

COMMERCIAL.

NAPIEIt WOOL SALES

NAPIEIt, Nov. 30. The second of the present season’s wool sales was hold in Napier to-day, and realised expectations ot keen competition and good prices. The catalogues totalled 12,700 bales, and only a few lots were passed in. The prices realised at the la.st sales were more than maintained. The only lots that fetched low prices were some of the smaller ones that were badly got up. The wool generally was splendidly grown, very bright, and in lit condition. The following are the prices realised to-day iu comparison with those got on the 10th inst: —Half-breds I2tl to llid, fine crossbred 133 d to 143 (last sale I2d to 13d), medium crossbred 113 d to 13d (last sale lid to 12d), medium crossbred ordinary lots 93d to lid (last sale 9d to lOd), coarse crossbred 9Jd to lid (last sale 9d to lOd), coarse crossbred ordinary lots 8d to 93d (last sale 7\d to 83d) dingy and interior crossbred 73d to’ 83d (last sale 7d to Sd), trood bulky pieces 73d to 8d (last sale 7d to’ inferior pieces and bellies 63d to 7d (last sale 6d to 63d), locks 33d to 4d, lambs 9d to 93d for fair quality.

LONDON WOOL SALES. '

Bnitbd Pn kbs Association— rroETUioiir LONDON, Nov. 29. Wool: There was a good sale. Ordinary and faulty sorts were about u per cent, below the September rates.

“BEARING” THE WOOL MARKET,

According to the special correspondent of an Australian contemporary, there was initiated Continent in the first week in October a bear movement, organised with a view to influencing prices ip the markets of the southern hemisphere. The operations on the “futures” xnarkots proved strong enough to lower quotations day by day untii the decline from tlie highest point touched in September ranged from 7 toy 11 per cent. This occurrence, coming so suddenly and unexpectedly, naturally upset the current flow of business. It took tlie trade aback, the industry being in a somewhat sensitive condition owing to the high level of jirioes on which, it was working for most sorts of the raw material. The first effect was to stop trading altogether, and to cause many people to cancel the orders they had giyen for wool purchases in Australia, South Africa, and South America. At Mazaiuet, although it did not bring business' entirely to a standstill, it convinced the pullers and scourers that they must not expect a continuance of the prices they had been hitherto able to command, and bowing to the inevitable, they' accepted offers to which scarcely ■ eight days previously they would not have listened. In the manufcaturing districts of England the effect was not so immediate.. There was nothing in the existing condition of the industry, so far. as everything hut the coarsest qualities of crossbred were concerned, to lower values, and this weighed so far with holders of wool and tops that they declined to male© any concession in their quotations for immediate delivery. This ‘‘bear” movement, as we/know, had not the slightest effect on the. New Zealand sales; on the contrary. the opposite to what was intended resulted,, and values have been advanced to a very high point.