LONDON WOOL SALES.

Dominion, Volume 2, Issue 604, 6 September 1909, Page 4

LONDON WOOL SALES.

TIIR FINAL VERDICT OF COLEIiAN STBEET. -. --(From Our' Special Correspondent.)' . London, July 23, 1909. Last' Tuesday the fourth sories of ' colonial woo! sales torminattd, and Coteman Street is once, more silent. A. Rood BtroUo of business has befn done, dltboush tho final results..vrlll hardly have pleased ilf parties. No changes of importance took place during the closing days of tlie series, the cttendanco being well maintained to the (lrii-.h. Tho net total available amounted to 152,eC0 balc3. No less than 136,000 bales have -boon sold, 75 ; 0G0 bules being taken .by tho Home.trade, 52,(10 by the Continent, and 9C03 ba'.os to America, lc»vins 16.0C0 bales to- bo carried foiwurd to the..September auctions. I don't think I can do better in bringinE tlio prnsent series to.a finish than quoto tlio expert opinion of one of the loading; selling broke™. Mc;srn. Charles Palme and Co. irtato thnt "although consumers havo. been fully employed since the close of the' May auctions, they hate found themselves Ttell stocked with the raw material; moreorer, *s the excitement encendored by the extensive operations of American buyers subsided, it was realised that there was no actual scarcity of wool; consequently, with the prosnecti of nraplo supplies next season, values have had a drooping tendency in manufacturing districts dnrinp: tho interval. -. ■. "The attendance of buyers tUroaghout the eoles has boon large, but competition has not..been so active an in May, particularly on tho part of thi' American Boction of tho trade ,who, howevoi,, on this occution, while oxorcirinp: much greater care in their purchases than laet series, have, ncouired- a considerable- Quantity of .ther best fine and medium greasy crossnreds, as well as .a-fow of tho .lightest and best'Evcdsy merinos.. "Merinos must be. onoted in 'averaso 5 -per cent, cheaper. The position of the best irreasies. which have attracted Ueeri. coniTWtitlon from all side?, was uiichangeil, but medium and faulty descriptions havii sold.Renerally.at, five.per cent, below .previous rates,* thiß deolinc boins .ofusn cxc'cctlcd in,the pass of New Zealand shipments. Tho "best sconrtda" were' ■■ aIGO fivo per cent. ohoaper,'"but bn averaco to 'Rood' parcels, as well 03- faulty, and. inferior lots, tho fall usually amounted, to 7J -per 'cent. .'. ' ■'•■.... . \ 'll.i-'bt-conditioncd fine -and .'medium ;. creasy 6ro3«brcds fully .previous': quotations. The heavier-conditioned lots of fine quality also aold' well, but the gnheral' run 'of medium and conrfd sorts, which were s'per cent cheaper to beninwith, lost ground during;.tho- progress of thr' auctions, and. at, tho "closo modiunv were 75 Ssr. cent.: and 'coarse 10 per .cent: under. May nal , p-nrity. ,As.is;usual' at-this time .of tho yer.r, .sroured and-elipss have-been, in aargo supply, and have met with'a somewhat unsntisfactory' market;' -Uio , ,' ilnbst .dopcriptlons' uavo • dccasionally. commanded :' previous: 'values,■ nut mofo' frequently hwc ru}ed 5 per cent, below the-former level, whilo-mcdiumnnd coarse, kinds ijaTt'«l«o' eold. Irregularly at from 74 to 10 per ""south' African,wools 'woro.2i.to. 5 Per cent, lower at the commencement, ■ the fall being /reitfet on short stapled 'ftre.isles. This Jcvol *a« maintained with onlyislight.variations ihirihg tho sales; at>the close, however, compctitton Jor.'combing 'lots imnrovcd. .final quotations, for, such .parcels showing ; but littlo clinnße from-liny rates. ■■' . ■ ■■ _':.-. .-'..■;•..'■■ . '!"ln'viow of the large consumption now jn.pro- . gross all over' the, world j ,and the moderate. supplies which will be available-for the fifth-senes. any ; fiirthor decline in values for cither merinos or: croßSbreda- seem : improbable;.;moreover, .the lbn» period whic)i has to be provided for before tho new season's wool arrives in. Europe . may -force, manufacturers to operate. dnnnK.tho .September .palos with greatcr freedom,tlmn might bo-expected,-in view of the large dimensions of the new seasotfii outpnt, and.thus brinrnbont a firmer market , than at present.--seems 1ike1y,...; j'. .';,'..■„;' ,'»: 'CHANGES.SEEN, .' .. ). . ,: - i Aβ' eprapared with the closing rates of the-pro. vious'sorics, , we , • ~ ■ '

. j :', . ,'.. ATJSTBAIiASIAN. ." .' , . '■■ Morino srcaSQ,'superior':::.:.'par Merino ■' grease, • 'average to, '-■ > •••'■? ■ ■' i Kpod ?.;.;;.:..;.::.;;:;::..:...:•.".." -'W- to id. cheaper llorlrio crease, poor .condition .Id.-.told; cheaper .Merino ,- -grease,-:. -inferior. . ■ . ■■-, ' 7piccos ■ and ' locks ...-,... .W. clieaner -.- Merino Bcoured, superior .:..' Id. to l}d; cheaper W Id.to U dieheaper' llorino'ecourcd.'infcrior Jd. to Id. cheaper Merino scoured, faulty ... ': pieces:and locks :.;.... .'Jil. cheaper■ Merino, greaao lanibc wool, ■ .- . , 'superior ::..'.. ...\par ■ Merino sreaae lambe wool, ■~',,'■■'■ medium ....:........:....;.....;...■■• Par to »d. cheaper ■ Merino crease lambs' wool, ■■■ . ':■ 'inferior ■•••••••■ ■ i'd.cheaper .. -.-.: Crossbred grease,: fine .........' par Oroisbred grease, medium ... par,tojd.cheaper Oroasbred greaao, . coarse, _ ' ■-.■•■ . Crossbred . grease,, coarse, , !,„„„„; ■ ordinary :,-. ; id to Id. cheaper Crossbred, grease, inferior -. ■•-."■"■:■ ■'-. -pieces and locks Jtt.cheaper ... Crossbred. grenso, lambe ...... Jd. to Id. cheaper ■ Cros»brcd.,BConHd, u»o. ......'.purtold.oheaper. , Crossbred scoured,' medium ..■';"•■ . :••'.•: -.anil' coarse-1....... ..'...'..... Id. cheaper,•'-.! ; Crossbred f sliped, : flno..'.l.;.'.'.iii ; W.'to Id. cheaper, . Orocsbrcd-ellpcd,- medium ■>.;.-. Id. chenpof- -'~.-v; .Orossjjred. eiiped, .c0ar5e.......... ld.ohcaper . ; •'' ■ '"''' .--BOUTII AFRICAN.. ■' ; i,. ', 'Snow .whlto/Buper- par. to Jd. cheaper!. 'Bnow white, medium!::........... »d..told.clicapci"Snow white, inferior ; Id. cheaper Grcaso, combing, light'-i;™.;." par Grease, combing,'.-.heavy par.to id. cheaper, Grcase, clothiiiß, liaht ...i..... 'id. cheaper. . Grease, clothing, hoary ;...-... Id. to id.. cheaper ■'. ":-"',; '-''■'■■.''THE '0UT1106K. , .-.'■■■■ ', '';';■/'. '■ Moesrsi'a Daneon and-Co'.,' in speaking about the outliok, say:-"The series just closed ; bas boon • somewhat perplexine &nd unsatisfactory. While good support .has- been., given to nil straight attractive parcels, there- been tho keen all-round competition which ttks ■so conspicuous- In the llr.j ssles: Many consumcro have beer.-so": well supplied with jteclu us to bo ablo to wait until September. . New flem»na at tho various-maiiufacturinr centres h«s :o.lso been lacking, and- the continued pause in business has been suOolent to. severely test prices,, s'o that at the opening tho market was ncrvouo and . values somewhat irregular. Happily, tho nervousness of the ■' first week has given place to a returning'confldence'and: a,better tone as the sales.bare progressed. ,-■■. '■• ••_■ ■ 1 Crosebreds have been in • largo supply, but have been inpatly of tho . hbavior'and more faulty: type. .' Bradford has taken freely and , courageously, but at a slightly lower level. Tho large disposals of. eased woo'.s to America have helped, the situation', very materially in--York: shire,- but this, business, has, of course, left the.shabbier.wools on hand,'and.it-ts'not 6ur.priaing that while'good wools have fully,maintained •valuee'these shabbier sorts have proved less attractive-and have.lost.ground to ; a small extent. , - V*--'- 1- '■ ""'•' ■ ■ ■• ■' ••'..■• "■ '•. ! Despite. tlio 'dearth-' of now. business, at the homo centres, the, position during the rieit.few months'is remarkably, safo.from any weakening factors'in tho shape'of supply. It neems quilo improbabjo that- the new. arrivals for. Scptemner .tan-'exceed'{KMOO baloe, 'ind tho interval is a lonj one. ■'-The roportcd heavy: etooks in.'-Bou-bair, which .have , :been nrentlbnefl »o;freiiuently lately, o-ro' steadily, dimhiishlng, and, Boine.into consumption'at a rate almost-unprecedented in that district. ' Ho fir. as-caii-bg ,'eaueed,' there Is in' that centre not more- than about two or thrco' monthß , !. work for. the .combins. ;mills.at tho present-rate of-consumption. ■; ;■-. ..:,.::,:' I'rhe new clip- from Queensland'-is coroin; to hand ■ earlier than.ever,, which . vfill -fortunately help to relievo any. difficulties of-supply,'arid it.ie , hoped-will save, the market from any, e'pssmodic rebound in .values..' But there'is-.no'cheap wool from that'colony on the iv*y.yet thit can depress: values by its competition. TheetleS'in Brisbane have realised-- full 'London, values, American' and Oontinentatl . buyers ,'having, jecured'tho .bulk of the offerings.., ■■' j ; . . rho next comb from'the manufactured, goods' end of the industry. ;RaVi tnaterliil. holder strong position, and .ds.splttj tho larKo irriVttle ■fro'in'-the'last jeason, closing on Juno 30, it .acems almost certain ' that tho industry will-, be • onipty and hungry tot. the ncw.'clin wools when they arrive. There is a widespread caution ; in -all. European .'centres, and: this ■ dispositiou indicates a hand-to-mouth-business un, til the iioif season's-rates,arc 'established,- ~ . The,.prospects 'for tho new clip are-good so far as Australasia is .concerned;: -. Queensland Starts the Ecason with a-Urgo-incrcaso of cheep, blit. Now'.South Wales is reported to have considerably less: sticep for shearing than 12.months ago. Tho news I troni South America is unfavourable, and owing to the severe-drought:a oo(JreMO of production poems unavoidable in.that important.Eourco::of supply." ;■.;,■ : : ■ ,; v ■ '■: ;--~;:' ■''. A: QUIET-,MAEKET.> ;'-..'■ •'•' .'"'. ; : .':

■ Matters 'in • Bradford ' continue to more on. a very. rostricte'd aoalei and business is being'done iiLanytaiug but an encouraging way. It. 1β , .1n perfect order to say that the effect : or: the sales upon Worstcdopolis is.practically.nil. and this-;market is as'slack to-day, no, at any. timo this' year, No inspiration .whatever has come from Coleman Street, and tops can be bought as cheap to-day as when the sales- opened.. In fnot, little, difficulty would, bo experienced in buying any class of standard coinblug at oven a fraction 1056, tho market being not over and above sound in any quality. .Topmakorn continue to bo fairly busy, the majority liavo still some very-good orders to complete,. but tlioro is not. much new buying being indulged in, and it: is this feature Which is rather disturbing things. The One merino end of the trade is a long way tho best, the demand still running most on sO's and upwards, anything below Wβ being distinctly, nuict and- dopressed. Although tho majority are still quoting. 2e. 21(1. for a. super 60's ton. yot without any difficulty it is pocsiblo to buy at a fraction lens, and plenty say that oven money would buy a good combing; Commission' woolcombera are still well, employed, with tho exception ■51 thoso handling crossbi'oos, and here night work is nothing near so plentiful, l'horo has been.during the past week a few.decent sales, both in lino crossbreds and. merinos, but topniakoi's cannot get what they ought in view of what , wool costs in London. It is certain that wo arc going to see no higher prices unloss a very. large and, unexpected wavo of buying takes placo, and. this'.docs not teem likely in tho least. Evidently all;users have determined on a policy of ffolng from Sand to mouth, and. the feeliug is a growing one in fav.our of lower prices. Consumption in tho aggregate is well maintained. Ho far thoro is:no 'standing'machinery, and spinners of lino counts arc mnking satisfactory deliveries, there being as'yet no complaints made respecting stocks accumulating. Coarse Vrossbrcds aro distinctly flat and disappointing, and-a good <o's top in easily procurable at 12!il. to IJJiI. It is. really surprising, how stagnant in this end of tho ■ trade, complaints being general that neither tops nor yarns can be sold at all freely. .The valuo of -these in certainly very reasonable ii\: view of the current price 9f mcrliipn, and yet tho amount of trade doing is exceedingly small.' Mohair has r.obercd down completely, and there is now nothing but a marking-time movement. Prices aro Eteady, but tho amount of actual husineES passing Iβ. very limited lnocci.