LONDON WOOL SALES.

Dominion, Volume 5, Issue 1386, 12 March 1912, Page 7

LONDON WOOL SALES.

DEMAND STILL GOOD. ' (Froia Our SDecial Correspondent.) London, February 2, 1912. ' The current series is longer than any *e havo seen since last July. They are to be extended into••.thr.ee weeks, which Js a fairly long time; for buyers to reside in London. Still, wherever the wool is there the eagles iofr tlie trade will be met ; together to devour if. This figurative expression is not without its significance, j tor it; points its.own, moral. The fact is, business on the' whole is remarkably ( steady so ..far.as Colqinan..Street is con- ( cerned, and , wo are glad tu be ahlo to say that notwithstanding, the. larg." catalogues which <ire submitted daily, the raw ma- j terial moves oft' iu a fairly satisfactory way. We have before pointed out the , extensive producing power of the indus- '. try, and it is remarkable • to find that , though the trade of the world is now J confronted with a very, largo supply, mill that a big weifibt ai wool is arriving ( weekly in "consuming rent res, ."''J' 01 '" ', n j Coleman Street seem to havo little difiiculty in lifting the daily nnnnngs. \\c only hope that what they aro buying \yill ( produce a , -' profit," for there is nothing • more galling than to hud emin spending timo and money in vain. We have known times when a HI tie moro optimistic tci'lin» h;w prevailed anion? buyers in Coleman Street than we have seen during tho past fortnight, but, competition has never slackened, nml instead of there being a "tailing oil'" as the , end , draws nigh, thwo is still. , the same, active inquiry and keen demand which was 'in evidence earlier in the series. As flue, , has siit on the benches of Colenum Street ; Wool Exchange, there has b:en no more satisfactory foahiro than'the activity on , the part of tho Homo trade, and while it may bo true that Bardford importing topmakers havo not been .able to secure , their full quota of the offerings in Aus- , tralia, yet in London- they havo bought ' extensively, and are, therefore, prepared ' to carry out their obligations in regard to the delivery of tops already sold. : MBRINOS. J The selections this week have not been j ol the same, superior kind as was in j evidence during the first fortnight of the j series, yet tho offerings hare been good. . In fact, there has not been a single day ] that can be called a waster, wools having ] always been submitted which certainly | | have been worth competing for._ Of course, there is u vast difference! betweon the nioriuo wools of tho various States, and ,it is : significant that West Australia'has supplied this series a-qual-ity of materiaf which hns never been equalled in tho past. General satisfaction has been expressed at what West Australian pastoralists are doing, and there is no doubt that given average .seasons, a large and acceptable supply of good combing wool is going to come from that part of the Commonwealth. The Home trade lias been perfectly nt home, in handling the,Ec wools, and when l'!d. is paid for them, it certninly shows what skill and individual effort can accomplish. The bulk of tho Wost Australian clips sold for froni . 10d.. to, lid., yet they show a nice useahle (quality, sjood length, and although ii little heavy in condition, they produce a top which spins well, and which is uio-t acceptable to the various members of tlie trade. A few superior lots continue to be submitted from Victoria, mid here tho inquiry is good on the part of those wanting 'good fine quality fleece. Since our last issue Langi Willi has sold up. to .2s. 5Jd. for the warm water washed combing, a price that deserves to be put on record. Earlier in tho series the well-known Shaw brand made up, to 2s. Sil., and again this week 2s. IOJd., a verdict of the sale room which needs no comment. ,Thei». the Ereildouno clip made up to"2s. 7(1., a price which clearly indicates that Australia is j;et turning out some very superior lines of merino wool. Of course, these are specialities, and they produce fabrics where quality and a silk-like. Jiandlo are'required. At tho samo time, what wo may call rank and file wools continue to command keen competition, and fine merino wool from New South Wales and Queensland has also moved out of hand rapidly. .Germany nil through has been a good 'slfpp'orter of fine-haired merino wool; France has been more or less' reserved, tho heavier part of the burden falling upon the shoulders of the Home trade, who nave-lifted it with n will. So far as prices are concerned, we cannot see good straight combing and clothing wool being any cheaper than last week, theso remarks applying both to greasy and scoured descriptions. In the case of faulty, reedy pieces and hollies, which are always a doubtful quantity, and which cannot be used without being carbonised, there is a little fall to record, prices here being somewhat irregular, though }d. will cover any decline, and medium greasy is mostly 5 per cent. down. Lambs' wool has been fairly well represented this, series iu merino clips, and firsts havo sold very freely at fully last sales' prices. Tho principal sources of supply have been West Australia, and homo lambs from West Victoria have been available. For short, shabby, burry parcels the inquiry has been good, but most of those wools have sold at jd. under last sales' rates, especially South Australian lambs. AMERICA A FEKK BUI'EK OF CJiOSSBREDS. One of the outstanding features of the series continues to bo the activity displayed by America, and New Zealand growers and brokers especially have been glad at the incoming of this ever welcome contingent. We have observed tho extent of the purchases on American account, and think their operations will be the largest we have seen for some considerable time. Everyone hopes that this is the beginning of a good year's business, and that when a , more rensonablo tariff I is framed, larger quantities of both colonial merinos and crossbreds wiil h'ml their way across tho Atlantic. Dp to Kid. lias been paid for w-00l grown nn the. East Coast of the North island of New Zealand, and it is significant that clips fio'ti that district have not beern so light and attractive in nnpenrunce for many years past. Wo think American buyers me doing wisely to purchase theso wools while they have the opportunity, for although there will prdbably lie a larger quantity available, next series, it is doubtful whether such superior lines will bo catalogued. Tho home trade has continued to be an active operator, and taking things on the whole, crossbreds con- | timie to sell uncommonly well. Even Bradford buyers, notwithstanding tho fact that crossbred fops nro .still jelling at rates current a fortnight ago,-am buying freely, and Germany has, not been quiet. We. call prices steady and firm, and nl--1 hough more money-is not being made, ypt, taking things on the whole, prices are well maintained, And withdrawals aro | practically nil. ■- ■ • THE NEW DKI'ARITHE. Last Monday Messrs. Thomas and Cook Ttiado a new departure by offering their "star lots" in another room, theso being put up half an hour after tho regular nale. They had rented n room in the miction mart, Tokenhoiiso Yard, which is flituated only three minutes' walk from the sale room. Tho r-ale parcel off very ■well, and we see no sound reason _why "star lots" should not bo offered every day in a similar manner. Wo underFta"nd that, some selling brokers aro strongly opposed to the idea, but a vote taken by the buyers some two years ago proved unmistakably that they were in favour of the "star'lots" being offered elsewhere nt the fame time as the regular lots were being catalogued. Tho extra expense in-rurr-id is small, and the experiment is well worth trying, for it is unreasonable fo expect buyers to sit till 8 and fl p.m., particularly 'during the summer season, (sweltering'iu a hot atmosphere, and then for the different buying brokers to liny* to go to their offices and work often till midiiighl. We certainly endorse Hid movement, TRADE VERT Si,OW. Tlii.q week condition* in Bradford iinve been very indifferent, and ik-w business is verv hard to do. Ixmilon tins hod very little- effect upon this district, and inftend of bringing out new orders they nro'scarcer than frver. It is really surprising whnt little there is changing hands, and if topmnkers anil spinners were not fully occupied on wind they booked wjini? time, ago, things would lm really bad. Tlu-re .-till reiiiaiiio the fact I hat. wool is selling well in all market.?, both nt Homo and abroad, and yet the response In consuming centres is very disappointing. It looks as if a difficult time lies ahead, and that current values are going l<i be .thoroughly tested. Merinos can only l>e called steady. Tfcer': are k'-dny iiio'-o fino topriiaktrs who

are willing to take 25(1. for their standard lil's top, and we have every reason lor savin" that oven a fraction less would tempt" some to .sell. So fur there, has been no disposition to force things, hut Mile* nro being made with diiliculty. bpninr-rs aro taking in delivery of old contracts von- well, ami Ihoro certainly is the most oneoiiragomcnt at tbe line wool e.ml of Hid trad* but ovimi that is not what it might hi- or ought to be. in viciv of Colranan Street, nro as cheap a> ever, and as diUiciilt to dispose of, Crossbreds are not moVing at all well in uny quniitity, and prices for tops aro far behind the cost nt raw wool. The. ni>ws that the strike is over.in' Ifueiios Avies has Riven every satisfaction, but there is a temporary shortage of raw niateriul, thuuijh this has not helped to raise the price of tops. Sales are most dillkinlt to make, and •!»'.« prepared are still a«iilnWp nt VM\., a\<\.: i\'s carded. Vld.; -H's pick hog., 14-Jd.: and good Mi's prepared, 10d. Yarn spinners are. complaining bitterly at the absence of now business, and this is tho crux of the whole question. Them are, no frames yet actually .standing, but all the same some, arc known to be iminning to stock, and export houses ar» veiy slnck. (Jprmany is at ]>resent doing ve.ry little buying. Mohair is very quiet and disappointing. Prices are easier if anything, and spinners of this fibre are in several cases going short time.