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YEARLING PRICES DROPPING Results of Second Newmarket July Sales Show Reduction in Average Value. BY E. K. COUSSKLL. LONDON, July 23. It is only during the past two or three years that the second July Sales at Newmarket have become of importance. Prior to tlie war there were always two sale rings at Don-caster. This was a great inconvenience for many reasons. Since 1919 Messrs. Tattersall have rigorously cut down the Doncnstor catalogue and sold in one ring only at the Yorkshire town. The result has been that breeders who cannot sell at Doucaster have all to send their yearlings to Newmarket, either in July or October, and the consequence is that the second July Sales have assumed much greater importance. At the second July meeting this year one hundred animals were sold; they realized a total of 88,300, which gives an average of ,883. At the corresponding sale last year the average for 10" yearlings was ,090. Last week fifty-three colts nveiaged ,000 and forty-seven fillies averaged ,700. The combined results of the yearlings sold at the first and second July meetings at Newmarket show that two hundred and fifty-six yearlings were disposed of for an aggregate of 1921.sh12,025; the average therefore was ,512. Curiously in 1920 an exactly similar number of yeailing were sold at auction, but the average-was then $",900. The reduced figures were not unexpected; indeed it was generally anticipated that prices would he on a much lower level than in the previous year, due, of course, to the coal trouble and the severe depression in business circles. The actual results therefore came us aii agreeable surprise, although a number of venders were disappointed, as the results in jdaces were "patchy." Some good youngsters went below. their value while others sold well. The feature of the second July Sales was seven yearlings from the famous Sledmere Stud. As a tile all their stock is offered at Doneastcr, but then: were so many yearlings this season "tJuit it was considered advisable to sell .some of them in July at. Newmarket. It may be taken for granted that the best have been reserved for Doucaster. The seyen sold last week made an average of ,020, an amount well below their standard; but not unanticipated by the Sledmere Stud manager. Last year at Doucaster the Sledmere average was 1,0i;0, Lady James Douglas, the owner of Gainsborough, also sold all her yearlings at the second July Sales. The following figures relating to the transaction at the July Yearling Sales will no doubt interest breeders in the United States: FIRST JULY SALES. Sold. Yield. Average. Colts SI 12.5J5 ,G23.r,0 Fillies 7.". lir.,100 3,208.00 Totals 130 37,023 ,933.00 SECOND JULY SALES. Sold. Yield. Average. Colts 33 03,023 ,000.00 Fillies -17 82,373 1.753.00 Totals 100 SS,3I0 ,SS3.00 COMBINED RESULTS. Sold. Yield. Average. Colts 131 13,130 ,331.00 Fillies 122 327,173 -2,081.00 Totals 230 1921.sh12,923 ,312.00 Last year the combined figures were: 130 colts averaged ,933 and 113 fillies averaged S2.3S0; practically ,253 all round. The figures this year represent a drop of about 25 per cent in values. This was reflected in the market, for .. numerous yearlings were purchased for Italy, Spain, Australia and elsewhere.
