LONDON WOOL SALES.

Dominion, Volume 5, Issue 1542, 11 September 1912, Page 2

LONDON WOOL SALES.

MERINOS AND CROSSBREDS SELLING FREELY AT STEADY PRICES. (From Our Special Correspondent.) London, July 26. Another week has passed, and still the sales aro being continued under very acceptable conditions, all the leaturos previously outlined remaining iirm and intact. It does imled sccin surprising that wool is being talccn out of hand so freely, and so effectively, tor not only is the uemand well maintained, but prices are also on the same level, as during recent weeks, except for American wools. As we mentioned a weoK ago tno moro ono knows of tho avenues of consumption compared with, say, 20 years ago, tho more surprising does tho wool trudo.becotne: To sit in tho saleroom day after day, and see no falling off in tho absorptive capacity of the trade is indeed to witness a woudorful scene. The lact is, no section of the trade at present appears to bo filled up, or if they aro the majority have sumcient faith in the future of tho raw material to prompt thorn to buy freely. It is significant that all alike feel that wool is going to be no dearer, and that what they aro buying will bo wanted. When one considers tho big weight of raw material available this series, it is eminently satisfactory to see tho trade in its present robust state, for instead of th'ero being a falling off in tho demand, tho inquiry is still maintained at the maximum, and prices are good. Selling brokers are feeding tho market very judiciously, and the 90U0 to 10,000 bales. which are being catalogued daily seem to be sufficient to keep the pot boiling. The strike at tho London dock is still making things very awkward, and catalogued wools are frequently not shown, but, all things considered, the work of piling and exhibiting is being done creditably, and it now loots as if the series will be continued to the ond without any curtailment. MERINOS STILL SELLING FREELY. Fine wools continue to lie offered in fair quantities, without anything specially I good being placed on the lists. Somo very useful lines of West Victorian grease are offered almost every day, and are selling anywhere from 13d. to 14d. per lb., an occasional lot fetching a fraction more. Those wools are being very freely bought by tho home trade, particularly Huddersfield spinners and manufacturers, who still want real good merinos. America, too, takes an occasional lot, but it is significant that the home trade* is still by far the largest buyer of this sort, though Germany is in the'field and doing some useful work. France, so far, is somewhat disappointing. Users in that country seem to have decided upon the policy of using up what stocks they have at home, ontr so preparing for a new season in tho colonics. Buyers 'say that wool is fetching too much for them, and that although the demand in Roubaix and Tonrcoing, for tops is fairly good, prices are not equal to those ruling in Coleman Street. That statement to a large extent wants discounting, but whatever truth there is in it is applicable to both the home and German trades. All through this season wool'has been the top dog, and it is well known how difficult it has been, and still is, to drag the price of tops and yarns to a £ rentable level in consuming markets, luring the week we havo had at least two new clips offered from Australia. Retra, a Queensland clip, has made up to 135 d. for greasy super ewes, other lots of combing making 12d. to 13d.; both necks and broken fleece made 12d., and pieces np to llsd. This clip showed a nice grown staple of 64's to 70's quality, and there was not much evidence of drought. ' Milo, grown at Warrego, in Queensland, was also represented by somo good respectable lines of combing, the bulk of tho lots maldne ll}d. and lid., necks lid. and 10Jd., and broken fleece lOd. This clip was of its usual character, and appeared to bo a < little dronght-stricken. althonch considering the adverse conditions under which it had been grown it was on an average with last year. It is really surprising how well sustained is the demand for good combing grease, prices being maintained on a level with those ruling last week. There is. also a particularly good call for .scoiired merinos, and it iooks as if wool is still good property when 2s. BJd. is paid for Queensland clothing, and 2s. 2d. for comb-' ing. Here we have an evidence of what fineness of quality, and good scouring accomplish, and these wools .'are certainly prepared for market in a very commendable way. In the case of faulty wools, there is still a great dearth of scoured carbonising parcels, nnd pieces and locks when found are saleable at about a penny moro than last series. The present demand for the raw material is such that it is impressing itself very pronouncedly upon all s»ctions of the trado, and merino wool is selling as freely as ever. Prices are hardly at the highest point, but there .is no real weakness, except for faulty, burry skin wools, and these are not selling as they did.

UNABATED DEMAND FOR CROSSBREDS. . No section of the market is more satisfactory than crossbreds, and to find tho large weekly, offerings so freely absorbed is indeed a wonderful accomplishment. Prices show no giving way whatever, although perhaps America is not operating .on 60 large a scale as recently, and it is certain that thoy are not disposed to pay the extreme prices which obtained during tho first.ten days of the series. In ono sense, they are taking things a littlo more quietly, but at the same time they are fully alive to the exigencies of tho situation. The advance of Id. is still in evidence on wools of 44's and upwards, but there are not so many lots of deep id's being taken at lOd. to 10Jd. as was tho case earlier in the soles. The bulk of the deep grown Lincolns are to-day fetching from 9d. to 9Jd. It is certainly very delightful to see tho free way that all offerings of crossbreds aro being taken, and the Homo trade still remains in the field, playing the role of largest operator. ■ A fair quantity of wool is beiug taken by spinners, who are generally paying a fraction moro than topmakers. Thoso who regularly case New Zealand wools continue their free buying, and have evidently faith in the future, it is well known that New Zealand-cased par. eels coming direct from tho Dominion are now making a profit, but some of tho firms adopting this method might class the fleeces better, and, a little more regularity in tho quality would be a distinct advantage. Slipe_ crossbreds continue to be first favourites, and are selling very freely indeed. There appears to be no giving way whatever in this class of wool, good halfbred lambs still making up to 16>d., and three-quarter-bred 13d. to 14d., according to quality and condition. Topmakers are buying the longest stapled slipes in the hope,of cheapening carded tops, but we certainly cannot see this being likely at present. We are rather inclined to think that the pace is being to a large oxtent dictated by octnal consumers, particularly tweed and blanket manufacturers-, all New Zealand slipes to-day being on a full parity with wools of similar quality in tho groase. Looking over the series as far as they have gone, all sections aliko appear to be well satisfied with ..-hat has been accomplished. Notwithstanding tho groat difficulty which is experienced at tho docks, sufficient raw material is being catalogued to show that thero will not be a very large quantity carried over, importers nnd thoso watching Australian interests being comfortable in their minds as to the future. The series has exceeded expectations, and whatever wool is ultimately carried forward will, it is thought, bring no less money in September. Tho outlook appears to be favournblo, for no doubt the present measure of consumption is such that all tho wool in sight will be required to meet tho manufacturing needs of the world. .

harmony between Coleman Street and Bradford that one might havo looked for, and although tho best makers aro quoting 2s. 3Jd. for their standard 64's tops, yet wool appears to bo selling on fully fciiat basis in London. Commission woolcombers continue to be exceedingly busy, and aro sending out tops as fast as they are oombed.' There is littlo accumulation in orossbreds, and hero too while free sales aro not taking place, the fact is nevertheless apparent that in carded descriptions some big weights h-ve recently been disposed of, and quotations are firm for all qualities. In prepared sorts, tliero is a nico steady business doing on Home trade account. Export requirements aro considerable, and as some fairly big weights aro yet to bo delivered at sensibly less than current quotations, niorohante ura not disposed to follow the market. There is therefore to a large extent a markingtime movement, and whore sales take place it is because nsers need tho raw material. English wools aro all moving steadily, and some large weights have recently been shifted. It is possiblo to sell and make recent rates, but country dealers 'have adopted a very stiff attitude, and in many cases aro naming higher prices, their firm conviction being that they havo nothing to lose by holding firmly to their stocks., There is nothing much new to say about mohair. Somo big weights of now raw material are arriving, and while Eonio spinners arc very busy, others are greatly in need of new orders. Taking all things into consideration the manufacturing situation is healthy, and in tho aggregate a big consumption is proceeding.