LONDON WOOL SALES.

Dominion, Volume 4, Issue 984, 26 November 1910, Page 22

LONDON WOOL SALES.

MERINOS -FINISH FIRM.' BUT, CROSS-' :DEEDS WEAKER. . _ j (From Our Srecial Correspondent.) Bradford, October ,14..'. The Sfth : series of colonial sales arc a thing of the.past, Coleman. Street Wool Exchange closing its doors last Saturday. There is very little change to noto to what wo have previously chronicled, there being practically no alteration in. the way wool- sold as the end drew near. Tho weakness in medium and coarse crossbreds: which developed at the beginning of the second week continued to tho end, and. while coarse descriptions were oftentimes' a penny dearer the first few, days of the series, still at the finish they were'generally"'par to Jd. up. Opinion seemed to : differ among buyers, and sellers as to the final results, our view being that there.was practically no change compared with tho best July rates. Evidently owners were disappointed at wliat they had to accept, and about 13,000 bales havo been: carried forward; of which 8300 are' New Zealand. Evidently the market

was affocteaV by, the Reports, that came to hand and ; there is no question of-a.doubt that/■everybody was more or less unnerved by, the that distinctly, lower. prices were ruling in .Australia 'than. Colemau" Street. : Fine crosstreds'; at: the finish were slightly below the close of July rates, while medium description's, as well as coarse, relapsed to tho parity, of July. Scoured crossbreds, ' although rather dearer during' the first few da'ySji'roverted back to-the level of'the fourth' series. ■ Sliped wool wnro freely catalogued. Half-bred lambs sold generally on the July basis, but after being about id. dearer for medium and coarse sorts, they gave way slightly towards the finish, sheep- wools finishing about '\i.i below July. Merinos ■■ did tho best, especially good combing descriptions: Notwithstanding tho knowledgo. that many firms were actually buying on a less basis in Australia, still urgent heeds that had to bo covered brought out keen competition, tho result'being that good combing wools, especially •new; clip from Queensland and West Australia, realised Id. to Id. advance. Tha buying was consistent throughout;"' so far as merinos are concerned,, though as the end drew nigh there was hardly the same keenness of demand for tho many speculators' lots, and ..shabby, earthy carbonising.parcels. The merinos on the. whole were lamely salted with inferior parcels, and these sold somewhat irregularly. We honestly think that, recent high,prices for faulty wools have been responsible for a good deal of carelessness in 1 , handling shabby pieces and locks, many lots being very mixed. If, for instance, pieces were more carefully : picked, and the stained jiarts kept separate from the cleaner portions, then a distinctly better price would be forthcoming. 1 Even in the case of locks, when they are badly stained, some buyers who want .to dye light shades for the production •of ladies' mantle cloths, cannot use them at all, the result being that good clean, parcels sell distinctly bet-, ter than those which are badly mixed. . The Homo and German trades havo br/;n the best' buyers of merinos, although it is quito;.true.that Franco gave, good support. At tho same time," the Home trado lias been the backbone of the whole series, its purchases being very good indeed. America has again been a very disappointing quantity, its takings amounting to only 400 hales,, averaging out at about 100 bales to each buyer. ■When, compared with the close of -the July series, tho following changes were seen:— ' - AUSTRALASIAN WOOLS. . Merino grease, superior, id. to Id. dearer; do., average to good; 3d. dearer; do., •poor condition, par; do., inferior pieces and locks,.par; do., scoured, superior, Id. dearer; do., average to good, Id. to Id. dearer;, , do., inferior, id. to Id. dearer; •ido., faulty, pieces and locks, \d. dearer; do., greasy lanibs wool, superior, nominal j :do., medium, par; do., inferior, par to Jd. .cheaper; crossbred, fine, Sd. cheaper; do., ■medium., par; do., coarse, superior, par to Jd. clearer; do., ordinary, par to Jd. dearer; do., inferior pieces and locks, par; do., lambs, Jd. cheaper; do., scoured, fine, Id. dearer; do., medium and coarse, par to 3d. dearer; crossbred, sliped, fine, j<l. cheaper; do., medium, Jd. cheaper; do., coarse, par. ■ . SOUTH AFRICAN WOOLS. Snow white, super, par; do., medium, W. cheaper; do., inferior, Jd. cheaper; grease,. combing, light, par; do., heavy, par; do., clothing, light, par; do., heavy, par. :

The fifth series sees the finish of tho last Australasian clip, and Messrs. H. Sclnvartze and Co. publish their ..usual" useful tablo showing supplies and deliveries to tho trade up to tlio end of the fifth series compared with a year ago. Adding transit wools and direct imports, the total deliveries compare as follow:— Same period 1910. 1909. Bales. Bales. Homo consumption ... 932,000 817,000 Continental l; 523,000 1,417,000 American 125,000 171,000 2,550,000 2,-1G5,000 The deliveries show an increase of 115,000 bales. Tho 'home trade has taken 85,000 bales and tho Continent 76,000 bales more than last year, while there is a dc-cline of -16,000 bales to America. ,The final series'for the current year-has been fixed to commence on November 22, and there is likely to be about 100,000 bales available. . . The six series of sales for next year have been fixed to commence on the following dates:—First series, January 17; fecond series, March 14; third, series, May 9; fourth series, July 11; fifth , series, September 26 j sixth series,. November 26. 'There will be. no limit of arrivals for the first and second series, the list being closed on January 9 and- March C respectively; the question of limiting the quantities, for tho subsequent scries will be decided later .on. AW UNSETTLED MAEKET. What to say about the present wool situation is a little difficult, seeing, that prices ha|ve received a decided check, and that there is a strong bearing movement. London sales finishing in the way they did . naturally unnerved a good mauy, and the market wears on all sides an unsettled aspect. Business, so far as spot delivery is concerned, is decidedly slow, and no quality of top is as firm as was the case a week ago. Everybody at present seems disposed to play a waiting game, the general impression being that there is nothing to loose by keeping out of the market. Most attention , is being , given to fritute. business, and quotations are being freely made for next year's delivery of merino tops. It is common knowledge that super CO's are ■being offered at 2s. 2Jd. by. several wellknown standard topmakors, and 64's at H- >to Id. more, liven a reduction of. 2d. from the highest. point satisfies very few, and they are waiting patiently to see a still lower-range of values. This move is regarded with a good deal of pleasure, and it. is realised that less prices at the beginning of the season is one of tho best things that.can happen to the whole. trade. Mills continue exceedingly busy, and will Iμ, but all the same spinners and manufacturers are finding that they can make very, little impression upon their customers when they name the higher prices which they are .compelled to ask. As an actual fact, little, has been bought or sold at the highest point, and to-day-the feeling is that, with lower prices, a good business will still be done next year. Tlio reported decline in Australia has undoubtedly disposed of all prospect of recent high'rates being maintained during the coming season, and even at tho present reduction •values.ave.sHU above normal:,'Topmakers on the whole are busy, conipletin? old contracts, and there is every likelihood of .a hand-to-mouth business being conducted for the remainder of this year. Everything seems likely to depend upon the. course of prices. Spinners are not disposed. to place large contracts at today's quotations, and if importers would quote a penny less for merinos, there would be a big buy. In crossbreds, there is also distinct quietness, and even for spot delivery .}d. to Id. less is being taken by topmnkcrs. There is no' slowing-down at the manufacturing end, although dress goods' makers might be : a little- busier. Yarn spinners- are'well -supplied with particulars, and they have'-liothing whatever to. grumble at. Mohair is very healthy, but quiet. : '■ ..