LONDON WOOL SALES.

Dominion, Volume 4, Issue 1074, 13 March 1911, Page 8

LONDON WOOL SALES.

prices rniM and steady. (From Our Special CorrespoD''ent.) London, January 27. All things considarcd, (ho sales are making very goad progress, and if a sensible advance cannot be reported, still no weakness is apparent. It is in no sense surprising that interest remains undiminished, lor all round- the market everybody is manifesting eagerness to know the latere developments, and the course ot values is being carefully noted. The attendance is well maintained, and in view of what has recently transpired in consuming'centres, it is really surprising the, demand there is for the raw material. One cannot help but uotico with satisfaction how wool is being absorbed, and although there cannot possibly bo anv shortage of supplies in the hands of users, still both (opmakers and spinners are prepared to operate on a very liberal scale. Y\ e must say that wc are pleased with the tree way the raw material is moving, and it appears as if the enrrv forward will be in no'sense large.

THE HOME TRADE THE PRINCIPAL BUYER. As one sits in Coleman Street AVool Exchange ho cannot but be impressed with the attitude of the home trade, for without doubt buyers from Yorkshire are giving a long way the best support. Surprise has been frequently expressed at the ireo bids which are given bv Bradford importing topmakers. It is'well-known they have bought on a liberal scale in Australia, aud yet there is no sign whatever of their being filled up. The contracts they have running must be larger than is generally supposed, otherwise they would never be buying oil the scale they are. \\a do not suppose tint anybody is to-day forced into tho market to buy at tho best possible price, but there seems to be forthcoming that healthy support which is indicative of the 'sound manufacturing conditions which obtain m tho 'West Riding. No one seems sick of wool, but are buying freely. This we say is a good sign, and long may it continue. There is every evidenc-3 of very largo quantities of raw material coming to hand, but so long as yarns and pieces are dispatched to their final destination, so long will topmakers and spinners be encouraged to operate. Tho course of the sales this week has really not shown much that is new, but the better buying spirit which manifested itself on the second night of the series has continued intact. Wc. think circumstances justify us in saying that as the sales progress (ho best "features become more pronounced. One is missing the competition of the French section considerably, and that is cno of (he weaknesses of (ho present series. Evidently Trench buyers have not the faith, in prices that is seen on the part of the Homo or even the German trades, consequently their operations are being confined to supplying a. few special wants. America is "not touching merinos, but buying a few fine half-brods, mostly medium descriptions, and for these some nice prices are being paid. Befcre dealing wiri.i crosbsreds I should like to show how merinos are selling compared with the corresponding s.crics a jvar ago, and the following particulars are well worth considering;—

SHAW. Jan. Jan. series, series, 1910. 1011. Description— rl. d. Scoured AE 231 27' Scoured BE 30, 28S Scoured CE 2HV 20 Scoured clothing E... 31' ?0J: Scoured first pieces ... 2G 261 NC. Grease first combine: H 17 IGI Grease first combing E 18 151 Grca*c first combing W IGI lli" Grease second combing Nr U\ Grease broken - 11 13?, Grease first pieces 12V 12 Greaso second, pieces... 12 11'. Greaso bellies 105; 10 Grease first lambs ... 221 1!H Grease second lainbs 17 ■ 111 Grease third lambs... 9V 11 Grease A comeback H 16J 15 PORTLAND. Grease first combing 141 12 Grease first combing 13V lli Grease second combing H 13 11 Grease second combing E 12 " 104 Grease first clothing... 131 10 Greaso second clothing \\\ 9V Grease B fleece 12 11 Grease first pieces ... 11$ 101 Grease A pieces 12V 10' GreaS3 first lambs ... H 11 Grease second lambs 121 10 Grease third lambs... 11 9 MINDEROO. Greaso combing 10 8 Grease combing 9 7V Grease clothing fl 71 Grease first lambs ... 81 8" Grcasa second lambs l\ 61 Grease backs G.f 5} Grease necks ....: 91 81 Greaso first pieces... .St 7i Grease second pieces 7J 5j Grease locks 33 4

Crossbred* are in gocd supply, and under ilia competition of Bradford topmakers, are .-oiling very well. Of course, when one cant lasts prices with what obtained a year ago, there is a big difference. It should be borne in mind that twelve months a 1?!) America was in the market, and buving liberally, securing thai series something like 12.000 They are particularly keen upon pur-cha-ing Rood halfbrods and medium crossbred*, and that series lliey paid somo very handsome prici-', which proved to be high water mark for Hie whole of Iho year. It turned out a bad thin? for (ho buyer, but a good stroke for the grower, but seemingly they are not in a mind for repeating what, they did a year ago. I certainly think that line halfbreds are Id. to id. (Idv;ii compared with hist series; in fact, all descriptions of erossbreds are in that; category.

CONDITIONS SLIfiH'J'LY BETTER IN BRADFORD. Tho trade lias now had time to digest the verdict'of Coleman Street, and everyone sees clearly that values in London are slightly higher than, those ruling here. \\'e cannot say that things have assumed a bounding attitude, but all the same the market is better, and there is some relief from tho recent spell of depression. The majority seem at present disposed to look with a little moro confidence on the future, but there is not a return of activity sueh as wo have been accustomed to during the past year. Users are still, adopting a hand-to-mouth policy, believing that they have nothing to fear in regard to higher values. Many are .strongly of the opinion that the bottom has not. yet been touched, but all the same the free .way tho raw material is selling in Coleman Street is, without doubt, affording encouragement to holders. Those importing wool are to-day faced with some disagreeable losses, but, generally speaking, this district will not. havo heavy losses, because of the forward business which has already been done. Imports are now coming to hand very freely, and there is no dearth of supplies. One of the outstanding features of the market continues to be the ready way spinners are taking up their old contracts, and they are finding that their yarns are also going out commendably. Some topmakers have seen fit to advance their quotations }d. to Sd., but whether or no they can actually make moro money remains to be scon. AVo are certain that the rot has been stopped for the time being, and wc shall now havo to wait and se3 \y.kat developments tako place. Some spinners have seen fit-to cover for tho next few months, thinking it policy to buy while prices were low. At the samo time there is no uneasiness manifest over prices rising. It is just possible if London continues firm to the finish that more buying will be done, but at present there is r.ot much indication of renewed activity. Crossbreds are more steady, and a decent, article can no longer be secured at 13d. Several are wanting Mid. to Ud., and to nil appearance there is-a likelihood of tho market now assuming more firmness. Yarn spinners continue to bo well occunied, and havo plenty of particulars. There is no change in the mohair department'. The raw material has lapsed into quietness, and while prices are mostly nominal, still fhey are on tho whole steady. Mohair spinners are certainly in a very comfortable position.