LONDON WOOL SALES.

Dominion, Volume 3, Issue 767, 16 March 1910, Page 5

LONDON WOOL SALES.

PEIOES THE TURN. DEAREE. (From Onr Special Correspondent.)

London* February 4, 1910. The first series of colonial wool .sales are just on the point of expiring, buyers today putting in t.heir last appearance until next March 8. This has been a fairly long series, but on the whole it has been an enjoyable one. The weather has.been a bit rough,,but it is mid-winter, and anything can prevail here in England from November to the end of February. However, the light on the whole has been' decent, that being about the best asset, next to a thumping good trade, wliich wool-buyers can have. It is quite true the sales are finishing in a. splendid way, although the j South . Australian' 1; woo!-growers' things might have been, a shade better. The missing link of .the whole scries has undoubtedly been an . absence of American j competition, and a good many clips have suffered financially ,in consequcncc. One never knows' what Tfcited States buyers are going to do. It is hard to say whether j or no their tuyere have supplied all their wants in Australia; or whether the bulk of i the American trade is running on crossbireds and not merinos. I heard one ol the buyers say that at the moment they only want crossbreds from 40's to 50's quality, fine merinos being somewhat slow in demand, both in yards ar.d piece goods. I strongly incline to think the Teal cause of their absent competition is that they have covered all their rcuiiCQments for the next few months, in Australia, and they are going to wait and-see if they can do better later on in London, when they have landed and : consumed the wool, bought in the colonies. PRICES . CONTINUE VERY. FIRM. Throughout' the week each day's sittings have been characterised by a continued large attendance, all branches o£ the trade being well represented. Taking' things as a whole, the situation is very sound and healthy. It must be said that the way the catalogues have been cleared is indoed creditable, and the prices arc also satisfactory. Wool cannot be callcd extravagantly dear,- although prices are fairly high;, yet tho raw material is not beyond the point where it can bo turned to good account by tho various branches of the trade. Frequently have comments been made at the extensive operations of the Continent, and no doubt many people have been . covering oontracts without anticipating any cheaper wool; When au things are taken into' consideration, there must exist some largo contracts which can only be supplied by big weights of tho raw material. Tho daily withdrawals havo -been fewer this week than during,the two previous weeks, and instead of selling brokers oftentimes experiencing id. less bid for a few :lot'of w6ol, they have been able to realise their full values. Several lots that wero taken in the first week have been reoffered,. and realised the id. extra which brokers were wanting, -what continues to sell the best, is undoubtedly tho weU-£fown, fine combing' merinos, anything at all short.of quality still making no more .than the best of -last week's rates. All fine clips from ' New • ooath .Wales,. Queensland, and Victoria have gone off splendidly, . and this last few nights even shafty Adelaides have done a shade better, while West Australian wools have also.,done, splendidly, the Home trade supporting'the latter right through the series in a most remarkable way. -Swan itiver grease has been very largely offered, and considering the earthy • nature of many of the clipß, they have done splendidly. Scoureds have also fared better, and here too full last sales' prices are now being paid, 'Russia having come into-the market.

INCREASED COMPETITION FOE GEOSB- - BEEDS. The way orossbreds arc selling is very satisfactory, and hero American competition - has been, a : very. valuable factor. The condition .of the New Zealand clip this season - was - forced to. bring out. the best buying power of. the whole. trade, and united States operators have taken, largo quantities of 40's to 50's wool. Tho show •P'jw Zealand produce is, indeed, a splendid one, sjid both tho Home . and : American trades are appreciating it very finely mdeed, .What undoubtedly is mak» ing tho best price is 40's to 50'b produce, .and hero all sections of the trade are opeTatuiß. The incoming of tho American section for-40's to 44's wools 1 is rather an innovation, and this has put Yorkshireinen on their metal. It is still possible to buy a good average 40's prepared top in -Bradford, at 15d.,.but we are certain they- cannot made out 1 ' of. London-bought wool at anything^like the-price. -America has been disposed this week to pay fractional advancesthan during the first ten days of the series; ..Here and-thero tbey up a few good 1 lines of haifbreds t .but more lots have been taken m; the regmn v of 14d. to 16jd.. than obtained during the'opening week. After all, good crossbred wool at anything over 13d. per !b. cannot be grumbled at, aad the better prices which seemed' to obtain towards the end of last woek have been well maintained. The few lines of "new from Punta Arenas have also sold at *a. to Id. more than last series, and for these there is to-day an exceedingly keen demand at the hands of both the Home, Continental, pjii American, trades. Cross'diW m unality are doing splen-

• HIQH PEIOES FOE LAitBS. Quito a feature" of this series is the for vood lambs, both merino and crossbreds, whether crease or scoured. For specialities fancy prices have been forthcoming, and the figures . " realised clearly show that tip-top parcels command high rates. For instance, West Victorian lambs, as usual, have sold the best, and buyers know, full well that we shall see no more of these until next January, when Australia s new clip becomes available. The Langi Willi warm water-washed lambs nave made the handsome price of 4s. OXd per lb.; Ercildonne tombs, 45.;/E0 super lambs, 2s. 44 for greasy NB over Trowalla,' is. BJd, ; S.Wilson over Mount Bute, 2s;; Wilson over Mt. Emo, Is. 6d.; JB over M over iloranghurk, Is. 6id.; while the first lambs (grease) marked EO sold at 2s. Id.. Is. 9d., and Is.JSd., prices which certainly are a treat: There is no doubt that for months back nice, fine, clean lambs -havo been a soarce commodity, and they havo' been about the dearest article on the market. We rather- incline to think there is a, prospect of a few more being available during the next six months; in fact, it will be a thousand pities if they are not. Bit-, broad-haired Adelaide lambs, do not 'make the price that either Victorian, New South Wales, or Queensland lambs do, all because they are not as flue as the principal users require. When, it is remembered that lambs are' mostly consumed in the, fine hosiery trade, for flannels,, and for fine spinning in - the'woollen trade, thereader will, seel that Quality is a , very important essential. Then again, the cleaner and more free from shiv, burr, and seed, the more useful they are. 1 Nobody. likes to carbonise lambs, simply, because it at once partially destroys both the colour and handle, while it also to some extent diminishes the finishing property. Lambs' wool is to-day a very valuable article, and always will be.

GONDITIONS QUIET, BUT PEIOES . STEADY,.

, Business cannot be called, anything but quiet so far as Bradford is concerned, and on the whole prices are steady. The change is- considerable when, one :contrasts Coleman Street with.Worstedopolis, and on the surfaco-it seems a little'strange that wool should bo selling so strongly in London, and Bradford 'so quiet, and unresponsive. To be very candid oiio can buy either merino or crossbred tops at exactly the same price they could before the sales began, and Bradford is stiU the cheapest market in all the world. The most satisfactory aspect of l the trade continues : to bo. the free way spinners aTe taking in supplies, and there is here as great activity as ever. The market seems now to be passing through one of those periods of auietness which- is but natural after a spurt of buying, and it. is very strango that any importance" should be at.taohed to the slowing down that' is everywhere soon: It only needs a moment's thought for , any man to sec that users cannot be, always operating, and as the majority have no fixed-up. contracts which will ace them busy for somo months to come, they aro disposed to await devolop-

ments and see bow things are pois? to shape. Wool is pouring into the market, in considerable quantities, and for the next three months direct arrivals will be heavy: yet, in view of the large sales of tops and yards, wc do not, anticipate any serious Bet-back, although some are hoping that the heavy arrivals will cause a slight ease. \\ e rather inclise to think that many large users are playing that game for all they are worth, and they, are hoping by abstention from buying to see prices pomewhat affected. However, the way wool is going in London shows conclusively' the actual position-of the topmakcr and manufacturer, and the free abporption of suppliea is telling its own tale. Wo strongly incline "to think the former have sold forward laTger quantities of tops than is generally supposed, and that all the wool * n .Pick up will be wanted to carry . their engagements. Merinos are steady, but they -are not making more money than recently. The same can be said for crossbrcds. It has to be a very superior 40's prepared to fetch more than issd., and plenty Fay they can buy at Jew. Several are doing their best to talk things down, and, generally speaking, there ip not a great deal doing in cither 40's, 46 s. or 60a. ; Spinners, are-all very busv and particulars'' arc coming to hand freely, Alohair shows no change, the business doing being hand to mouth, though' prices arc steady.all round.