LONDON WOOL SALES.

Dominion, Volume 4, Issue 1131, 19 May 1911, Page 6

LONDON WOOL SALES.

CLOSII OF A VERY SATISFACTORY SERIES. (From Our Special Correspondent.} Bradford, April 7, 1911. Last Saturday saw the termination of tli'e second series of colonial sales for the current year, and all things considered the results can only bo described as very good. The expectations of the most sanguine ha to been more than fulfilled, and once again it is plain to bo seen th-.it the. raw material is tho "top dog." As tho series advanced.competition increased, until every section of the trade manifested a desirn to operate. The fact is the sales proved to lie altogether different in tone and character lo what was seen in January, and it is really surprising what is tlin absorptive capacity of the trado in view of the heavy direct arrivals which are pouring weekly into consuming centres. Thero is no doubt that to some extent speculative buying was indulged in, tho general opinion being that prices are now fixed for at least the next six months, and with tho selection getting worse as the season advances, many people felt disposed lo buy a little to stock. If we turn to centres like the West Riding, the majority of users there aro fairly well supplied with tho Taw material, and yet buyers bought liberally at fractional advances. There is no doubt that the incoming of the Continental section spurred the Homo trade, and wool moving freely has changed the complexion of things considerably. No doubt one of tho principal surprises of the series was the incoming of the French and German element, and their free operations stood out in strong contrast to what wo saw in January. This clearly shows that buyers frorii that quarter have now more confidence ill the future, and their largo takings are certainly very commendable. Tho scries has done much to clear the atmosphere, and to show that the raw material is resting upon a very firm and satisfactory basis. The most surprising thing is the free way the large.volume of crossbreds has been lifted, and the carry-over is'somewhat significant. Altogether about 48,000 bales have been carried forward to the next series, which commence'on May 9, about 21,000 bales of these being New Zealand crossbreds. Tho qua.nt.ity gold is estimated at 195,000 bales, the Home trade having absorbed 120,000 bales, the Continent 72,000. bales, and America 3000 bales. The following shows the clianges seen compared with' tho close of tho previous series :—

AUSTRALASIAN/WOOL. Merino grease, superior, Id. dearer j merino grease, average to good, Jd. to Id. dearer; merino grease,- poor condition, id. to Id. dearer; merino grease, inferior pieces and locks, Jd. dearer; merino scoured, superior, ljd. dearer; merino scoured, average to good, Id. to lid. dearer; merino scoured, inferior, Jd". to Id. dearer; merino scored, faulty pieces and locks, Id. to Id. dearer; merino grease lambs' wool, superior, par; merino grease lambs' wool, medium, par to Jd. dearer; merino grease lambs' - wool, inferior, \d. dearer; crossbred grease, lino superior, id; to Id. dearer; crossbred grease fine ordinary, id. dearer; crossbred grease, medium superior, Jd. dearer; crossbred grease, medium ordinary, par to . Jd. dearer'; crossbred grease coarse superior, Jd. dearer; crossbred grease, coarse ordinary, Jd. dearer; crossbred grease, lambs' superior, Id. dearer; crossbred grease lambs ordinary, Jd. dearer; crossbred 6coured, fine id. to Id. dearer; crossbred scoured, medium and coarse, Jd. to Id. dearer; crossbred slipe, fine, par; crossbred slipe, medium, par to Jd. dearer;- crossbred slipe, coarse, par to Jd, dearer. ' . ' .' • . . SOUTH AFRICAN WOOL. Snow whites, superior, Jd. dearer; snow whites, medium, Jd. dearer; snow whites, inferior, Jd. dearer; grease combing, light, par to Jd. dearer; grease combing, heavy, par'to "id. dearer; , grease clothing, light, par; grease clothing, heavy, par. Messrs. H. Schwartzo and Co. publish some very useful particulars showing.the jnovenicnt. of the colonial clip up to the close of the" recent , series- of sales. Add--ing transit wools and direct, imports, the total deliveries compare as follows;— 1911. 1910. 1909. Bales. Bales. Bales. Home consumption 553,000 • 430,000 411,000 Continental " ... 938,000 745,000 805,000 American " ... 31,000 91,000 91,000 " 1,522,000 1,269,000 1,310,000 LOOKING AHEAD. Tho trade has now had timo to digest the final results of Coleman Street, and all alike recognise tho soundness of tho situation. There may have been a little speculative buying, but if users do not purchase while the wool is there, it stands to reason that it will not bo available to-, wards the end of the season. Wo see that Messrs. H. Schwartze and Co. estimate that there will bo about tho samo quantity of wool available in London at the succeeding series of sales as there was last year, and this estimate no doubt is correct. At the sauie time there was none too much wool in .the hands of consumers from July and November, and although tho wool recently purchased is niore than what machinery can at present absorb, still it should''servo a good purpose later on. We cannot say that we are anxious to see much higher values than what obtain at present, for manufacturers have yet a keen battle to fight with wholesale fabric buyers during May, June, and July, when they will be showing for the spring of 1912. Tho best thing that can happen is for wool to get no dearer, for without doubi reasonable prices aro far more conducive to a continuance of good trade than extravagant rates, which always bring in their train the inevitable shrinkage' of orders. As fnr as ono can see, tho outlook is favourable, for better reports are forthcoming from (he Continent. America is the only dark spot on the horizon. A settlement of the tariff trouble will considerably improve the outlook, but we shall have to wait patiently until an agrement is arrived at and the schedules remodelled.

PRICES ON THE UPWARD GRADE. Tho past week has been a rather sagging time in Bradford, and the "balance of power" rests entirely with the raw material. The firm finish in Colemon Street has brought out a big volume of business, and for onco prices are responding, both merinos and crossbreds being against the buyer. Users, seeing tho course of things in Colcman Street, have thought it policy to operate, and have accordingly made some important contracts. It is indeed questionable if topmakers have been able to enforce, prices which are commensurate with the cost of wool in London, but for all that better values have been forthcoming, and to-day good G-l's tops cannot be secured under 27d. There is no question of a doubt that spinners have largely anticipated their requirements for tho next few months, many being of the opinion that they would lose nothing by buying for future needs. There is really no new aspect of the trade that merits attention except that business continues good in all branches. Of course, thoro nro ftill croakers who assert things are travelling upwards too fast, and that business at the manufacturing end is not as healthy as is generally supposed. No doubt makers of tho lowest classes of fabrics are very busy, but those producing high-class worsteds am not doing so well. However, spinners are. satisfied that there is no slackening with them, although it. must be said that coloured am! mixture spinners are not ns busy as they were last year, and nothing near so well employed-as those spinning white varus. However, margins arc still good. ' Turning to crossbreds, there is also here a considerable show of life, and nn the whole prices are moving upwards. There is no great weight of fine crossbred tops on the. market, and it is possible to make- a good Jd to Jd. more than recently. A good 10's. prepared ton is to-day being quoted .if 1-td., and 3(S's at 131(1." The latter arc very scarce, and wanted. Thoro is not much f.hango in English wools, prices being V rvy firm,"and during the past fortnight considerable activity' lias been noted. The mohair branch of the trade shows more life, and the large purchases of. Cape winter at the sources, of supply have stimulated this branch of the trade.