LONDON WOOL SALES.

Dominion, Volume 3, Issue 918, 10 September 1910, Page 14

LONDON WOOL SALES.

!. CONTINUED ACTIVE BUYING. ; (From Our Special Correspondent.) ,' London,,,Tuly 22, 191(1. The wool sales are continuing to manifest: a fair degree of strength,' competition is on the whole good, but tho strength of the market is., a little more one-sided than many importers would like to see. Taking these tilings on. the whole, the situation is still inherently sound, but'buyers-aTe, if anything, a little more particular' in: their."'operations-'than--we have seen for some time,back. : It .is today .absolutely essential to analyse tho market more carefully, and to differentiate' between one class and' another if the reader would gain an' actual : and, clear understanding'.'of :, what things actunlly are. Dealing first with, merinos, good greasy, combing parcels ,are still the top' dog,; and for these there, is no giving way .whatever;; "A.bit i>f..decent,wool Is still; fetching.. last. sales' prices,; thanks largely. to' the aotive buying on account of the Home trade,;; 'The /fact s is, very .remarkable .that -. Xq'rkshire, buyers are -.the stand-by; of the/present, series, and 'both Prance and''Germany /are showing |.more reserve-than-was generally expected. It makes "one wonder .what they have up their sleeves. : Have' they in/ hand suni- : cieht raw wool to! see : them' through the; next three months, or'are they quietly [forming, a -programme of -attack in. readiuses for ..the new season,iii Australia? It .will be remembered that,: after, the close 'of>the'. last: September-series,,;" they .so> mahipulated "futures" that, directly the flfth;.series .closed,'the market was.sold .down'- on purpose to-affect Australian centres,' and we all know, that good combing... wool fell;;about 2d.: per lb. ij ea Oy spc, a k--: ing, this - was a-.very good-thing for-'the. .trade, for it laid the foundation-for con-., fidence, and : provid€<l,a way'out.of a very, -difficult,'.if:nbtdangerous,.situation. How-.' ever,'- it 'is; noteworthy; this series that several.' prominent .'-'firm's,'' of both .-French; and' German' origin, are not buying likethey did last series, but it-is giving thei Home" trade a, chance, to secure.raw.ma-,. ' terial which', will "ho: needed ./before . the: next;' series, arrive;; - As' I have .already'said,: gi"easy combing'and'clothing 'wool is; all .right; aiid'the: same' can bo "said 'for ehafty:, pieces;', broken, , .and bellies. When"!wo, come'' to» deal with scbureds, a •"differeht; tale is, tdf-be .t01d..:/ Even, good straight /combing -'from: .Queensland is; liafdly fetching/theexti-emo prices of last scries,' while.when;we come to,the less desirable parcels,- namely, seedy, ■ burry, ■; and. particularly.' shabby, -.faulty/wools, the decline is. fully Id'.,;and ofte'ntiinca more. It, is here thatSve/missCoiitiiientalcomi l petition,;and,.tHe'.big nrins/who,do/a-'-'car-' -bbiiising' taadeare distinctly; quiet. ! /Thc-fl/ 'again; ;it /seems'; as' if, / with/ the' extreme price's ruling,; -'.importers //have -seht/.forward for.' realisation /■; all.'.- they, could. possibly, commandeer,; in the,'/hope of//stil£'reaping<.2d/';toi 3d. ;per,':lb : '.profit: on-shabby,.faulty-scoureds, but thisseries; more'/wools are being, taken-in,- clearly' indicating that ./first.cest; has been rather heavy. ; -Taking;'things as. a;whole, com-- ■■ petition"' is keen,, .but .there is- not that expansion; in/tho bids of buyers that wo have: frequently, seeni;unless;it be for a. special, lot. of'good; fine groase..'.;

,:'The catalogues,: this week "have,'natm-' ally,...been of a'yety -miscellaneous.char-, iibter, 'the" July and'..September 'London.' 'series always" seeing submitted' a/large lot of ■■.'speculators', ■wools';'-of all qualities and'conditions. 'The/show, of erossbreds ■is/large, but -'very,/mixed!' '": Greasy r flcecc - is;not being offered .anything like what, was'.'generally/ expected; '■ therei -is ■ a large quantity, cif slipes■'-and'..';,scoureds,'■;.arid, naturally, some '.weakness..'''-Let me'nrst -of all deal' with greasy 'fleeces.■'■:' Good; lialfbreds ■ are .selling very ; well, / thanks: to a good demand-oil the'part .of'maiin-factures'-'.from",'Scotland and: also Bradford tq'pmakers; Anything,!of 50's ~to, sG's quality .'is .wanted, and; to -my mind/ will be.'.; ■'. America is completely out... of . tho. /running,' and.'-I .question.'veryr.piuch'-sif, they have bought; so'.",far'.this. SeriesV"2so'.bales., -.- No buyer. r seems. to want.'a single :bale, and ,15d. has been reached very ;'6el'dom.'indeed. "So -far as crossbred: wool-is-, jsbncsrned,"/different /prices- are ccrtdiiily 'being paid to'.•what there:.was.last,Januarj r , and .American buying then proved, to. be a veritable snare to the.tradc, and. I only hope, that we.have/seen'the end; of -.'■ the;; troublej '■■ and ,: the : loss; -,;, Medium ( 1 and,/cbarse : erossbreds : ;in; the 1 fleece; are also 'selling;very freely,' and/better than -.the 'majority ever .expebted.': :-I -must admit to .being; agreeably.surprised, .but,all. .the 'same;-'wool: is being ■ picked up /frequently .at :par,.to. r |d./less.'-;than?'last series, 'though /the','.decline-'.;is/-,-the mostseen-' in the 'worst'. classes -/'of /iinskirted .'parcels.;:/': .;''..'■•!;'■'•'•■•:';'■'.'-.■'■■' ' •■■"'.'.'■'. ' ;'As:already.said,slipes predominate; and here good .halfbred lambs, are '.still show-, ing Jd. .'decline; w,hile 'in 'other: desorip-, tions the fall;-is ' still 7 id,: ,to ,1d.,. and, oftentimes the latter, These remarks apply'' most of .all to carding descriptions, bUtwheri-wo.cbme to clothing slipes, such ' as; are used: : by ; blanket: aiid khaki' manu- ■ facf-urers- in,.' the: heavy -woollon • ■ district, ;of the West" Riding of - Yorkshire, then competition; between' / the respective par-ties-is- still- so .keen'that,-atTthe-outside;l ■the decline: is not;more- thani |d., •.This is. -rather('■;significant,'.'. : imdi!(it'''showSj., that still-.good.':. When.we come. to.

.scoured erossbreds,' there is 'here amarked. decline to be.chronicled., Thefall is any-, where from Id., to 2d.-, per,: lb. wit should: •be.remembered' that for these at both the' 'March and/May. series- prices, got/beyond 'reason; in fact,-.' there seemed to be: no,, limit' to men's bids for:,this 'description; of wool. They,are this series,very.-plentl-i ■ fui,' hence the fall.-,. I .think- importers are' : actihg wisely.' in" letting; the wools f" 0, for''! certainly -' think-.'there will still 0 -a-.fair. supply 'of> slipes and/shabby scoureds "right- along\ to,, the. end o£ >year... ".-:,.. : _ '_i;-- . >;, \.'"r-".-": : '"'.''..i' -. /;•. ■-'

: ■:*;,;,; ANrIHPROVING;MARKET.: ! /This district/has- watched/carefully the course;of. things. in.Coleman' Street, - and to some extent the market -has benefited./ There' is; hot that ; depressed'feeling in; evidence which has'been uppermost during -the.-past six weeks, .ana .the firmness in London-has-ihspired : all'-holders of the raw, material-with mbro. confidence over, -the'future. ■ The tone of; the market is 'stronger, and - a feeling , more .'akin ;to business i* in ' evidence.; ", Merino tops have been'sold sinde. tho opening of the London sale's in fair weights, but higher prices'have not : yet been made. There are still sellers of -a, good average 6-I's top at .-25.-"4Jd.-,,and whether or,no: West, Riding users realise' the strength of merinos is indeed-questionable.,"' The views of 'consumers and the London importing trade hardly harmonise, the, former ■ still believing in lower values, while the latter 6tate emphatically! that supplies will be very meagre until next November. Wo certainly cannot see much.chance of lower, values in fine wools; for ■' some time to 'come, although we cannot -believe that rates-will last,all,through next season! , Howeyor, for the.: time being,' tho /situation- presents a more healthy aspect, and 1 fine tops are going into consumption ,as largely ,as ever. Fashions aro undoubtedly favouring merinos, and it: is'some satisfaction to know; that for these' consumption, remains, unabated. Commission woolcombers; are: as busy as ever, and aro making deliveries of tops in a very freo way. Stocks here aro light, and although' there are somo.fair weights of nierinq . wool - waiting to bo combed, still there is nothing liko the quantity in sight that. obtained six weeks ago., In regard, to erossbreds, there. is not a great deal to say.. Good 50's to 56's are still steady and saleable, and'there is also/ an improvement in medium and coarse qualities. London has brought to an end all the very cheap lots which have boon recently offering, and business on the whole is better. At tho samo time it is possible to buy a decent -10's top at lid. to lijd., but:it ; is generally agreed that out of London-bought /wool to-day. nobody is going to do any good by selling at tho former figure; All spinners continue to make deliveries in 11 very freo way, and in tho aggregate somo big weights of raw material are being shifted. The most satisfactory aspect of tho .West Riding, trd'do continues ./to bo the briskness seen at the mills, and Ve cannot hoar toll of standing machinery, in any district. Mohair continues to play a prominent part in tho trado of Bradford, and consumption was never better. Prices are very firm, and are resting on a con- | eumptive basis. ~-,-■;