LONDON WOOL SALES.

Dominion, Volume 5, Issue 1341, 19 January 1912, Page 8

LONDON WOOL SALES.

pricks i.\" favour of the si;i.u;it. (From Our Special Correspondent.) London, December 8, 1911. The sales are making excellent progress, ami instead of any ground being lost, the opposite is the ease. There continues In be n largo attendance of buyers, all sections of the trade manifesting great eagerness in operate hi fad, the scries are turning out much hetler than any- i one expected, and instead of there being any slackening, each day's sale shows a full maintenance of prices. The time and spirit associated willi I lie present .scries is altogether different from what; was se."u last series, and instead of between two and three- thousand kilos being taken in almost nightly, the withdrawals hardly run into so 'many hundred bales. It really is surprising what form both the Home and Continental trades are showing. Very lew indeed have expected In see Ihe continued keen demand for the raw material, and instead of prices weakening as the series advance, the opposite lakes place. Practically speaking there is to-day an all-round advance of about ."i per cent, compared with the close of last series, this being in evidence both in combing, pieces, bellies, and locks. The greatest; surprise of all is the readiness on the part of everyone to buy, and to find big importers among the largest operators, in Coleman Street shows conclusively that they must' be either underbought in the colony, or else over-sold at Home. Probably both reasons-are legitimate, but be that as it may the fact remains that the raw material is being picked up with great avidity, and the sales, instead of slowing down, are gaining in strength and fervour. WUEIiEJIEIiFN'OS STAND. As already said, the catalogues submitted daily contain an excellent show of wool. Australian merinos largely predominating. It really is surprising what close attention is being paid by the Continental section to iine-haired merinos, and il is significant- that the Australian clip this season is more robust Ihan Hie Jasl. This is probably due to the, season, a plentiful supply of herbage no doubt being conducive to the production of a stronger-fibred lleece. So far as length and shat'tiness is concerned, many clip< wen: never better grown than the clip of PJlfli 801110 are trying (0 minimise. Hie importance of the advance by saying that Iho wools being new. and in good, dry condition, they will give 5 per cent, more yield than those offered last series, but it is nevertheless true thai in Ihe majority of cases wools to-day are fetching a good id. more' than they would have realised last'series, while in Ihe case of faulty scoureds, the advance is often Id. lo Id. It is really surprising what a mixture of confidence is expressed by Ihe different sections'of the Continental trades. Germany is a long way the most active. French buyers being more reserved. The larger orders which German spinners and manufacturers have been able to secure during Ihe past months probably account, for I heir activity, but -Frenchmen say that, they arc worse off for work, and'that heavy stocks of lops exist. Keally speaking the French section shares very much the same views as users in the West Hiding, although there is reason (0 believe that; spinners and manufacturers in Bradford and district are generally better oil' for work than their competitors in Koubaix and .Tourcoing. However, wool sells like penny cakes in a famine, and that we suppose is all that the reader cares about. Many would have been belter pleased if they had been able to obtain, supplies at the 5 per cent decline which they were expeeling, but the anticipated fall has been largely turned into an advance. CKOS'SISREDS DEADER. The recovery in crossbreds has also been very .significant, and clearly indicates the strength of the market. The oll'erings have not been really large, but.show distinct signs of a general upward move. The inquiry on the. part of tlio..llomo trade is much better than expected, while both : Germany and America. -are taking their specialities. All are agreed Ihat prices in ' London are well ahead of those in consuming centres, and that the raw material bought is 110 good for Bradford lops. Still, the Homo trade has conlidence enough to prompt operations, and the wool will largely find its way into tops. .Owing to the incoming of the Continent and America, all good conditioned, fine, and lredium descriptions lire to-day practically 5 per cent dearer than last series, but we cannot see coarse crossbreds making more money. American buyers seem more disposed to operate than they .have been for some considerable time, but it is noteworthy (hat it is the actual, consumer wild" is giving the most support to the market. Everyone rejoices in the fact - that America- is in better form, that its textile industry has improved, and that . consumption is on a larger scale than we \ ha.vo seen for the past 12 months. We are ' confident that a settlement of the) present over the tariff ( would soon lead to increased operations j both in colonial and English-grown wools, 1 1 for many need to replenish their slocks. Selling brokers are'meeting the market, | and bv so doing arc aotins wisely. Next 1 series there should be to hand 3(1 to -10,0(10 I bales of new clip crossbreds, and we fully | expect that at the end of the current series ver\\ little indeed will be left to carry forward. The market has gained ground during the past week, and there is now every prospect of a firm finish and clean-swept boards so 'fur as crossbreds are concerned. SMPES AND SCOUJiEDS. There is 110 feature of the sales which \ lias given rise to so much discussion its , the selling of stipes, and here wo have ) to record an advance of Id, lo Id. per lb. v Considering the large quantities which ,' the trade lifted at the fifth series, it is \ remarkable to find so much enthusiasm • manifest over this class of staple, and yet 1 medium qualities, which lost the inost \ ground in September-October, bavo vecov- ] cred the most to-day. One naturally . asks: "Where have they all gone?" and the only answer is that big weights have beon put into carded tops, regular buyers seeming to be quite as hungry to-day as ever. We do not think we can do better at this time than call the reader's attention to the change which has come over the situation of slipes by giving the selling particulars 'for the well-known Gear brand, and the 'prices realised at . the fifth and current; series of sales:— THP.EE CEOWNS OVEH, GEAH. ; Fifth Sixth Series. Series. 1011, 1911. Description. d. d. Slipe halfbred super combing H 14JSlipe crossbred, first combing 11l 121 Slipe crossbred, second combing 11-111 12 Slipe three-quarter-bred combing 10 111 Slipe I hree-quartcr-brcd -combing : 10 101 Slipo crossbred combing ... 10 111 Slipe crossbred, clothiug... S $] Slipe crossbred, clothing... ,S1 SI Slipe crossbred, AY. clothing 7 8 , Slipe crossbred, third clothing 7 7 Scoured crossbred 101 12 Scoured crossbreds have gained considerable ground, and are to-day generally a full penny dearer than last series. No doubt this is largely due to the briskness of Scotch Iweed manufacturers, who lire large supporters and consumers of\ this class of staple. _ : I