THE WOOL SALES.

Dominion, Volume 4, Issue 944, 11 October 1910, Page 4

THE WOOL SALES.

. Tee London \wool sales;' closed on •',':': Saturday,;' . and-; •',. the ..'''■". pro-.. mises held - out., at -the .open-.' ing ; were ''not',, fulfilled. . "1t..,-was confidently' believed at '■ the, : '..opening that, values' would'-'improye.-tp about: ■ aid ■ at,\the,,first ,evenv: ; ing's. sale -fmost-: grades; were;... from' par to 5 cent higher,- but,:-duririg, tho'last week,, a reaction set; in, and, 1 ' except of ,fme.wool's, .the opening advance-was lost'/ :To' what" extent the: advance -in/the _bank; rate, ihas affected the' position' is difficult ' to say, but.'that :it: has'-had';:spnie; effect -is- certain.-. Wool, is practic-; .ally no.betttr : thanVit'was>t'.the.''J;uly'. sales,, but' this would? not matter'.-were it ..not for' : 'the fact'; that-.fopmakers; are quoting .lower-prices for■: forward' .delivety/ - Bradford'/ .tops /declined about a. half penny per lh. 'all round; last 'week, and ■'topmakers are qubt-' irig'belowth&o prices for future de--liveryi- .The. obvious inference is'that they expect to .-buy the raw material at lower/prices than ; are current :now.. This does'not Tpolc- promising for: the -hew •clip,: j . , but,/ , _at the 'same' time, -it - would, be"; unwise"' to' 'attach, too much'importance, to the forward.: selling : .o:f,tbpmakers. ; Their action maybe'just pure;-bluffj arid,'in/any.: case, there is the possibility .that:they :have made a wrong.estimate.'of: the. position. -The 'fact remains that. British trade is actiye;:that the woollen mills are -working 'at full .pressure,: .and, -in, some l ;cases, ; ' operations;' ; are 'being carried-on,night .and:,:-day-.' : The.weight of ■ new;' : wool may' he/too' much for;.the'.market,' 1 but/the're/isno chance of a sliimp,..while: Ainerica' might come in at. any moment-and stimulate- the. market, y.-. /V : -;' : ;