COMMERCIAL.

Gisborne Times, Volume XXVIII, Issue 2714, 20 January 1910, Page 2

COMMERCIAL.

LONDON WOOL SALES.

AN AUSPICIOUS OPENING

United Puess Association —Copvhioht. LONDON, Jan. 18. The wool sales opened brisk. Crossbreds advanced 5 t-o 11 per cent. (Received, 10.30 p.m., Jan. 19.)

At tbo London wool sales 5428 bales were offered including: 1118 excellent New Zealand bales. There was a largo attendance, including many American buyers. Spirited competition resulted from all quarters. Merinos are firm at full November rates. Fine crossbred have advanced 5 per cent, medium and coarse 10 per cent.

COMPETITION BRISK. fPitu Puess Association.! NAPIER, Jan. 19. Messrs. Murray, Roberts and Co. have received the following cablegram, dated IStb, from their London bouse, Messrs Sanderson, Murray and Co.: — “The wool sales have opened with a large attendance of buyers. Competition is brisk. Merino and fine crossbreds showed no material change, but the market is firm. Crossbred, ooars© to medium, has advanced from 5 to 10 per cent. WELLINGTON ,Jan. 19. The High Commissioner cables: “The wool sales commenced with great competition by America, and continued strong. The buyers’ trade is good, and the prospects are favorable. Manufacturers a.re waiting for supplies. The New Zealand wools catalogued amounted to 41,700 bales. Merino of all grades is very firm at closing rates of last sale. Fine crossbreds show a rise of 4d; medium and coarse ditto have advanced fully Id per lb.”

The .Bank of New Zealand received the following cablegram from its London office last evening, re wool: “The sales opened with strong competition, and a large attendance of .buyers. There is an active demand by both Home and foreign buyers. The market is strong for all kinds of merino and slipe wools, but the prices for these are unchanged. The market is also strong for coarse crossbred, and prices are higher 7\ per cent, to 10 per cent. 36 to 40’s quality, average condition, 10Jd to lid iper lb; medium crossbreds 44 to 46’s quality are higher than above 36 to 40’s quality by lid to lid per lb, and the demand is active for both.”

The New Zealand Loan and Mercantile Agency Co. Ltd., are today in ? erript- of the following cablegram from their London office re wool:—“There was a full attendance at the opening of tbe sales to-day, competition by Home, Continental, and American buyers being, active. Opening catalogues were fairly representative. As compared with last sales closing rates prices are about 10 per cent, higher for medium greasy crossbred and coarse greasy crossbred, about 5 per cent, to 74 per cent, higher for slip® crossbred. Market very firm for merino and fine crossbred.” Messrs Common, Shelton and Co.’s London agents have advised them by cable that medium crossbred wools have advanced 7-1 per cent, as compared with the closing rates of last November .sales. INVERCARGILL WOOL SALES. [Per Press Association.! INVERCARGILL, Jan. 19. The second wool sales of the season were held to-day. Prices: generally ruled higher than have been secured in other centres this season for the same quality and condition of wool. All round the prices were exceedingly satisfactory, and the top price secured (13{-d) was an advance of id on the December best, and of at least 2d on the highest wool price secured at Invercargill for many years past. Then again very many lots fetched prices in the neighborhood of Is (under and over) and tbe greater bulk of the bales submitted realised decided advances, even reached to an increase of 4d on inferior lots. For to-day’s sale buyers made their arrangements in anticipation of a rise in tbe English market of 10 to 15 per cent, and soon after the sale bad started cabled advice arrived showing that expectations had been realised to the extent of an increase of at least 10 per cent. Competition was therefore stimulated, and the sale went with a swing. Tlie following are the prices :—Merino, superior to good, none offering ; good to moderate, Bgd to 8d; moderate to'inferior, none; half-bred, superior to good, none; good to medium, lOd to' 8-id ; moderate to inferior,

8d to 7id; fine crossbred, Superior to good, llid to lOd ; good to moderate, 9id to 8d; medium to inferior, 7id to Gid; strong combing, superior to good, 10d to 9d; good to moderate, S)d to 7*d; medium to inferior, 64d to 4-Jd.

THE GRAIN MARKET IN CANTER-

BURY

CHRISTCHURCH, Jan. 19. Naturally with the harvest in full swing in all parts of Canterbury the grain market remains quiet, as few farmers can afford the trine necessary to place their produce' on offer. Already a considerable number of machines are busy threshing in various parts of tlhe ’province, hut the number' of samples of wheat which have been placed before the merchants have been small, and few sales have resulted, sellers being firm in their demands, while millers and merchants, although the former’s stock must now in most cases be depleted, do not seem anxious to buy, the majority being of opinion that as the season advances prices will recede. New season’s wheat changed hands during the last few days at prices ranging from 3s 7d tO' 3s Bd, but in some cases samples of stook-threshed grain have been rejected on arrival in port on account of dampness. Several samples shown have been of excellent quality, tbo grain being we 1,1 grown and sliotty, but in other eases tbo grain j s below the normal size. In oats a few parcels have been placed on offer. Although there has been a fair inquiry from the north the business done has boon of a. hand-to-mouth description. Sales of this season’s oats, prime quality, have been made at prices ranging from Is 5d to Is 7d. The former price was paid for Duns and the latter for Gartons. These were prices for delivery on trucks at country stations within a short distance from the city. The offerings of white oats have been very small 3 the bulk of the linos living been Algerian. With a- few exceptions the samples of Duns shown have not been of high class. Barley has been on offer in limited quantities, hut so far the lines that have come forward have been of indifferent quality and too thin, and prices paid ranged from 3s 9d to 4s per bushel on trucks. Several lines of ryegrass were on the market during the week, and fair progress has been made with threshing cocksfoot on Bank’s Peninsula, where the yield is expected to be considerably in excess of last year.

FIu)ZEN MEAT. United Piikss Association —Copyright. LONDON, Jan. 19. Representatives of New South Wales and South Australia visited Hull and watched the discharge of Australian frozen produce. They were' favorably impressed with the methods of handling and distribution. BUTTER, Writing under date London, December 10, Messrs. Weddel and Co. report as follows: —'After a short period of wet and somewhat mild weather, a change to a dry and cold atmosphere took place, but has reverted to-day to the former condition. The weakening in the demand exhibited last week continued up to the middle of the present week, -when the funky feeling of both buyers and sellers wore itself out, and a calm waiting attitude Iras supervened. The total arrivals of Australian and New Zealand will not be more than 67,000 boxes next week, consisting of 23,000 Australian and the balance New' Zealand, and these will all be wanted for the Christmas trade, as arrivals in the following week will be too lat-e. Receipts this week amount to 36,994 boxes in the China, from Australia. Shipments this week from Australia are 41,000 boxes in the Alongolia and 3670 in tbo Essex, being 12,330 less than the previous week. From New Zealand 48,800 boxes were shipped in the lonic. The market for foreign butter lias not shown the same weakness as colonial. The Copenhagen quotation .lias been: raised P kroner, and most probably no further change will be made before the Christmas holidays. The contrast between prices of colonial and foreign butters compared with last year is very .marked. Australian is the same as last year, and New Zealand a shilling less. Danish is Bs, Siberian 6s, and French 4s more.