LONDON WOOL SALES

Dominion, Volume 5, Issue 1548, 18 September 1912, Page 5

LONDON WOOL SALES

(iOOl) COMI'KTITION AT I'llOl I , HICKS. (I'rnm Din' Khwlnl ('oiwiinmlciil.l London, Aiihiipl. 1!. IHIL', Wo nro now williiu iiihimii'iilili , dlslniifp of a. lini.-li, I In) iiiiclluiiM <'lii:.ili|[ lii-dn.v. This jiiTimnl is hnviiiif In In' Hi'llloii In , - torn llli> Mile--. liTMiimili', 'lull II cull lie liilu'ii lor cninlnl Hint lIIIMT will hi' mi iilli-rnlitm in vuliii"., llμ- I'iiiiil vcnlict luiv. iiii; b'.Tii pi'iiiiuiiiH'i'd M'liii' diiys ii|!". Nothing Ilir- im|mv*i'il w- :.u niiii'li diirlii|[ tin- cour.M' til . Hie (iiiHlniis ir. tin' Mrmly coiiuu'titiuii I'm' (he rtnv iiiiilitliil, mill the work ddiio ilui'i'iiK I In , ]>ii--l week will ln'iir olii'o i\nnl,VM> mill ill x i'-l i|:nl inn. Iti'ully ,--|U'iikiii|;, llii'ic 11111 lii'i'ii a lull niniul'Miuiion ill nil tlio <iOiiuil fiu'ti'iV to whii'li \\ii liiivo [iivvidinlv cnllnl nlli'iilkui. (ilHiimijjli it. i> imlvworlliy llml prices linvi- Jil'.-I-sliailoil a littlo from tin' liiklic-I point, tliis lieiiig most in evidence in wools cuilill)to for Aiiicricii. II was In he expected Hint if tho most, tiruenl wauls of the Inidii wow" Mip|>lii!il, prices wouhl cmiii' down to bed-rock, nnd (lint Is exnelly what has trnnspircil. .ioine of the American buyers wont homo liiml week, Ihe nlliors linVo voiiminral in Columim .Street lor tho purpose of securing miiiki reasnnnhlft line, nnd. no doubt their imlin-lry nnd pntienco hnvo been rewiirded. At. I In , samu time, values havo inniuUiiiKMl « very good level, but if the t-orics are llnislieil with just a little reduction, Mill tho Imllc of Hie. wools lire fi.'lehinx inoui 10-diiy than they did nl tho close of Inst serir:». Wll havo cpitiiinly been very fuvimralily impressed wilh tho recent, tk'iiiaud for the raw .lnnieriiil, and .witlimit doubt good business has been done, nnd wool is resting upon n very good foundation. Purlin p» there is no' fenliiro so prominent us that tho Homo, trade, ha) been Iho nioinslay of tho series, ond this should satisfy those who all along have, boon quibbling over Ilio prcfcnt riingo of prices, Hint tho whole industry is in a very healthy stale.

QUEENSLAND NEW CMP WOOLS. Tho series havo provided tho opportunity for showing tho nature, character, and condition of tho now Australian clip, Queensland wools shorn Inst March find April having been offered. Theso now clip wools hnvo commanded n good ileal of attention, nnd hnvo manifested signs of being moro or less affected by draught. No 0110 can lind fault with tho quality of tho (jueenstand clip. That characteristic is certuinly nil Hint onn bo di'sirod, but some of the wools nro rntlior lean, sliorl, and dusty. Drought is entirely responsible for this, and it is a pity when good wools are spoiled bv unsatisfactory climatic and pastoral conditions. We do not think wo can do better than givo n few noted clips, nnd show what, they made nt tho corresponding series a year ago. The following are the particulars:—

NIVE DOWNS. July July eerie.o. series. 1011. ' 1912. Description. d. d Greasy. AA combing K] 12 Greasy AA combing 10* i') Greasy A combing 121 "a GrcasyA combing 12\ 11 Greasy B combing 11-1 . 1 1 Greasv necks 12 11 Greasy broken UJ 11-1 Greasy broken, damaged ... 10V lit! Grensy A pieces, weaners OJ '••! Greasy bellies, ewes .......... in 10 Grcosy AA, weaners 12J l^i Greasy A, weanere...' 11-10$ 12J Greasv necks, wenners 11 12 Greasy broken : 10J- 11| Greas} - A pieces, wennevs 10 10) . WMcJI/M'ANEEOO. Greasv AA combing E ... 12 114-13 Greasy fleece E 11* oi-10 Greasy first pieces E ... 10-101 WJ-H Greasy AAA, weaners 0-11 91-11} Greasy' first pieces, weaners 9 10

CROSSBREDS SELLING STEADILY. The bulk of the offerings this week have consisted of crossbwds, and without doubt thesa continue to receive the full <ittention of the trade. We cannot say that prices have been improved upon, although they nre still showing a 5 per cent, improvement on last series. Crossbreds. purchased \by American buyers havo lost ground by Jd. to Id. from the very high prices reached during the second week, but on the wools taken these buyers are easily atye l<. outbid both the Home and Continental trades, and all light-conditioned crossbreds—coarse, medium, and fine—are still being secured in fair weights for the United States, at 5 to 10 per cent, above last sales' closing rates. What has impressed us most of all is the steady persistent buying of the Home trade. Notwithstanding the very unsatisfactory reports coming from Bradford, topmakers from that centre manifest considerable faith in the future, and are free buyers, taking every class of raw material which comes at a full market valuation. Scourods havo slightly receded from the highost point, and so havo slipes, but when all is saidand done, the way the catalogues are being cleared offers conclusive proof that the situation is' very satisfactory. Thero is on all hands' a splendid demand for the raw material, which as far as one can see is likely to continue.

Sliped wools have been offered in good quantities, and here too there is on the whole a good general demand for all classes. Good halibred lambs continue to sell up to IGd., both Scotch and West of England buyers being ready to take this clos3 of material. Wo are very much impressed with the healthy call for combing wools of all descriptions, and whether shpes, seoureds, or greasy, all alike are fetching, full rates and selling with rare avidity.

A QUIET,. BUT STEADY MARKET. Conditions in Worstedopolis do no? showvery much change, compared with a week ago, but certainly things are no stronger, and'there.-is less- disposition to anticipate the future. The fact of prices in Coleman Street having shaded a little has confirmed the cpimon of those who all through havo entertained views that they would buy to better advantage after the sales are o'ver, and they arc naturally playing a waiting game for all they aro worth. Really speaking, business is being done on a hand-to-mouth - principle, but it cannot bo denied that recent actual selling prices are.-now more iii evidence, and 2s. 3d. may bo said to be a fair market price for a gcod 6i's top. No matter how topmakers'try to improve their case by stating that merino ■ wool is no cheaper in Coleman Street, tho fact that there are many large firms prepared to do business on tho basis named makes everyone feel at ease regarding-the future of values. It looks as'if for the time beinp; prices had touched the top, and we are entering upon the holiday period with somewhat quiet markets and ' steady, values. The outstanding featuro undoubtedly is that consumption is well maintained, and as long as we can rely upon that the majority will be patisfied. So far as crossbreds are coucerned, there is a full maintainence of the same healthy conditions which have been in evidence for some time, although top-makers are .not having all their own way. The fact is, a big business could be done if they were willing to. accept 131 d. for Ws tops, and although it has' been whispered that this price has been taken here and there, the idea is wnernlly scouted. ■ A fair market prico is 135, for -10's prepared, and there is littlo prospect of wool or tops getting cheaper. Consumption appears to bo too large to allow of any falling off in demand, and there is certainly a full supply of orders to keen spinning frames running busily throughout the whole summer vacation. English wools nrc moving steadily, though here, too, the high country prices nre to a large extent affecting important sales. Still, a fair weight is being shipped abroad, and as far n= one can see prospects point, to there beinp n steady demand, even though to-day's rale? aro tiof. likely to be improved ns yet. SltLu wools are also selling freely, although- stocks, of old pulls are now in very small compass. Ther<> is every apnearnncc of the raw material being shifted iu large quantities, and nobody fears a surnliis. M*liair U rather ?low. stocks here hnvo lately increased, and there.nre indications lhat'thei'c is plenty on band to satisfy all demand?.