LONDON WOOL SALES.

Dominion, Volume 5, Issue 1384, 9 March 1912, Page 3

LONDON WOOL SALES.

CONTINUED ACTIVITY AT FIRM PRICES. (From Our Special Correspondent.) London, January 20, 1912. Coleman Street Wool Exchange still presents a busy scene, and this week the sales havo been continued under very favourable conditions. The attendance continues to ije large, and all sections of the trade are fully represented, it now being ascertained that there are about u dozen buyers from across the Atlantic. Those wo have spoken to appear to be cheerful about (lie trade for I!H2, and given no tariff uncertainties, they say that they are sure a normal turnover in wool nnd other textile fibres would be seen. Whilo all .alike express feelings of doubt, there is a fairly unanimous opinion respecting the time that the revision is likely to take place, and all assert that the next President will have to bu elected before any new tariff is inaugurated. This means that for many months to come there is little, likelihood of the present business being interfered with and on that account buyers aro operating with confidence. They say various factors aro entering tho situation which are prompting their present action, nnd they feel certain that what they aro buying to-day will bo wanted beforo anything is really done with tho present duties. There is no doubt that tho presence of American buyers in Coleman btreet Wool Exchange has "whipped up" other buyers, who'are operating on' a somewhat more extended scale than they otherwise would if the whole show had ken left to the Home and Continental trades. Our friends from across the Atlantic aro buying on a fairly decent scale, their purchnses being confined mostly to crossbreds, though some nice lots ol tho lightest conditioned West Victorian wools havo been secured, and also a - few parcels from New South Wales. ] MERINOS VERY STEADY. The outstanding featuro of tho week's business has been the large offerings of merinos, and the steady prices which they have commanded. There is a particularly good call tor all well-grown, tine-haireo , lleeces, and tho Homo and Continental trades havo been keen, to acquire them. It is very patent what all this means, for it shows clearly that tho' tine spinning end of the industry is still busy, and likely to be. No doubt many firms aro picking up theso wools while Uiey have the chance, for they know that they will not ■ be available later on. Thcro is wisdom in adopting this policy, for undoubtedly the January sales provided a "menu," if such a terra wo dare use, in this connection, hardly equalled at any other series of tho whole year. All finehaired wools from New South Wales, Queensland, and Victoria, have sold very well indeed, and the prices realised offer a clear proof of their excellence. There is no doubt, that quality still counts in merinos, but this characteristic is being undervalued by many Australian pastoralists. Business continues to be done on a large scale, and considering tho largo offerings, the withdrawals aro very meagre. Vie call all straight combing and clothing grease, fully up to last sale's closing rates, but faulty wools, of uncertain yield are still slightly below the opening standard. Tho homo trade continues to absorb the largest weights, Germany following next, France maintaining to some extent tho same spirit of reservo seen during the opening week. Still, thcro is a splendid tono in the sale room, and everything is moving out of hand at a most commendable rate. Taking all things into consideration, merinos, are selling well, and the offerings are being readily absorbed, CKOSSBREDS SELLING FREELY. Thero has been a larger quantity of crossbreds catalogued this week than last, and the New Zealand clip presents a fairly attractive appearance. American iiiflnence is being felt in this department of tho market more than in any other, ;and it.is rather, noteworthy that United States buyers arc taking'ttools from 44's lo s(i's quality, with an occasional lot nf 40's. It is significant that anything. which America is favouring often shows nn advance, as hish as th per cent-above last sales, but on the wools purchased on home trade account, there is littlo more bsing paid than last series, simply because Bradford topmakers and spinner* cannot afford lo exceed last sale's prices. Of course, when cognisance is taken of tho extra yield in the new clip compared with the heavy, sappy .fleeces which were catalogued in December, better prices aro forthcoming. Yorkshire topmakers aro (he principal operators ia this section, and every description of tho raw material of a crossbred character is selling very freely at tho best prices of tho scries. Really speaking, the cost of wool averages out about. id. per lb. moro than can be got for tho corresponding quality of top, but many topmakers must havo the raw material, and are therefore buying ■freely. Wo. have not yet seen many lots of good half-breds catalogued, the bulk of the wools being medium quality, and it is patent that tho bulk of the New Zealand clip this season is going to run around 16's. There is a very good call for shafty pieces, bellies', and locks, and taking things on-the whole, there is every encouragement to sell. Not a big quantity of slino crossbreds has been catalogued, nor"is there likely to be. Business on the whole in the crossbred department ehqws a commendable degree of strength, and all things considered no fault can be found with the movement of values in this section. HOW CLIPS ARE SELLING. Seeing that this series there are being offered for tho first time new clip wools from New Zealand, we have taken the tronblo to ascertain how leading clips aro selling compared with the first vimc uflering a year ago, and tho undermentioned are very interesting particulars:— CATHERINE WHEEL , RiS/T (N.Z. WOOL). Jan. Jan. series, series, 1911. 1912. Description. d. d. Greasy fine crossbred combing '. l'-i I 3 Greasy fine crossbred comb- - ing 11 "i Grcasv fino crossbred combing, H n n; Greasy fino three-quarter-bred combing, II 11 "a Greasy se.ven-eighth-bred combing, H H '"f Greasy crossbred combing, II \\) ■>• Greasy crossbred combing, II SJ 9 88/YARDIE (W. AUST. WOOL). Greasy combing, R 8£ 9 Greasy'A pieces 8 j> Greasy bellies l>; ''i Greasy locks .' jjj 4 Greasy A, lambs : f. 8 WELLSHOT (QTJ. WOOL). Greasy combing, E 1H 12 Greasy clothing, E :". 101 »i Greasy broken, E '11 Hi Greasy first pieces, E 10} 11 Greasy secoiul pieces, E 9 10 There was no sale on Holiday owinjr to a bad light, but on Tuesday and tho following days fully as much was shown, and prices we're well maintained. CONDITIONS IN BRADFORD. The. market cannot be said to be at all active, although the movement of prices in Coleman Street tends to keep values in Bradford firm and steady. Spinners are nahi'rally resenting all attempts lo force prices to n higher level, and so far as morinos are concerned no more money can yet be made. Their argument is that tho condition of the market: does not warrant more niimoy being paid, and until they are compelled to buy they prefer to let 'things alone. Users are simply hoping to be ablo to find topniakcrs in a r.ood for selling when large direct imports are to hand, and whan financial resources are strained, when probably a trifle less vill be fakeu for cash down. However, then; is no prospect of easier prices to-day, all alike stating that values aro firm and steady. Consumption is very well maintained, and with London sales continuing to go well, hopes are entertained that the j orders which hnvc been hanging back for some time will be placed. Crossbreds continue strong, and foptnakers here are asking a fraction more ! Ihiin a week ago. Many are demanding | 13! d. for their standard 10 - ? prepared top, (nil. a farthing le>? would bfl taken in ; many We rannot find a great dcul of activity, topmnkor;- beiiitr more c< ncerned iiiiuiit tvirryiuK n " 1 ,na ' r pv.M'iit contracts than pollinu- Eeelly rpedkiu*;, there ii little encouragement at the ex-

liori- onil »f the tnulo, and until there is inoi - i> (loin;; there, cio: -brod.s nro lint likely I" "ari-y {mil sliiiic." For Iwsier.v purlKifOs, Mime fair weights of medium and lino i-ros>brwis am bcin;; taken up, lml there i-i loom fur improvement at the yarn end of the tra-.k- in these finalities. Kii|jlisli staplers are feeling morn comfortable ns a lvMilf of the verdict nf London. At the KiniMi linu> it is next In impossible Iα make niHi-i! money, and country holder.-: tani;rit jiiiikn a profit nti iheir dcnrci , purchase* made , last clip time. Homo fair sales an- kohiß made, but (here is little let I in the transactions. Fkin wools are. "liioviiijf freely, and prices are steady and linn. Xoils are still far from being ia a healthy stale, and no more money can he secured. There is no change to report in mohair, which still hnngs firo and moves nil' tardily.