LONDON WOOL SALES.

Dominion, Volume 6, Issue 1596, 13 November 1912, Page 9

LONDON WOOL SALES.

EXCELLENT DEMAND AND PRICES ;: V; ■:-..;■:': ;;,;;:;HIGHER. ; ':. •-;::-,':,' '''_ ;. (From:our-Special Correspondent.)•''" ;. ' ;: : October; 4, 191i2.- . \Tho sales are being. : coh'tinucd . under >reTy. satisfactory condition's, and; there can be no doubt as'to tho sound standing of tho' raw. material. There, is' no giving way whatever in Any class -of;wool; in fact, 'if anything,-the '.tendency, is in tho opposite ■ particularly .for combing merinos. When all-js said and dono;the activity displayed./is clear-evi-. tlenoe.that:iisers.aro still:wonting wool, . and however poor mayvhavebeen. the response: in. consuming markets; here,', in Coleman Street the situation; is exceedingly sound,:.and 'tho,raw material is .Belling os : freely as ever. ''.Wo'' think the oatalogues givo distinct evidence of tho end of the last Australian clip,--arid we have' also had a fore-taste of'what tho coming'clip is' going to.be like.' It : is: really'surprising how the circle of events gradually revolves, arid is fevery indication that by the end' of the scries ; the boards will be swept clean. ;We certainly think owners will bo wisely'advised' to clean' up.the last clip; and so'get ready for hondling the new arrivals. 'Judging, from..cable- reports there, is every .'aniear-' nnce of. the coming.Australian' clip'being late in arriving, and all this; cannot but ;'6trengtheri;th'e'hands; of those who n,ow havo the raw material to dispose of. Some importers are still confident tluit'wo have not. yet- seen - the .top; of.. the market,'' but wo candidly state'that.it is far better to have, a sound, steady market and firm values than such'.a rise .'in price as .destroys, confidence, arid' which'.is the forerunner"• of..;b- reaction.' However, we are notfearing- this at present,, believing that prices^.will.continue to be.well .niaintauied.to the 1 will.be taken off the niarket.in'as free and'satisfactory B'Way''aS ever;-...;::'.;:;;;;• '■'•'; '-";■'".'!.','.'. -./' ■...,; : FINE WOOLS ;JHETUEN DEAEEIL , Sinco : writing last; the sales have made isplended progress, 'and'there is no'giving way-in-the-courso':of'the market.''The faofo'is 1 ;-' values are : all':against- the buyer, and'while . some '.frankly state that an out-and-out .'advance of- 5 pel- cent can now ,be; recorded,-, others■ are. content'.to- sumup the situation'by asserting that values iare firm and-in'favotir of the'seller.' We must ..admit that so ; far,..as.: merinos are concerned, , rio'''sbft.6"pots"'are'discernible.-: Here :.«n'd,,there, one. finds' .a. distinct ad-; vance being made '.upon', wools taken in last July, and: offered .this'-week, and instances could .be given where a distinctly higher price'ha's.been,.paid.;',; ,;■..:.:,....; '■;■.■.'..;..'i. ■ The selection'.this Seek i.Ms only, been nn-, average; one; ' Almost: 'every. day We nave had "new,clip" merinos fiom QueensSo.iithc WjUcs,- South; Australia, and West Australia, the ;nrst-nained State .applying the most sew wools. .The cb'ps appear, to;bo very irregular, and 'while 80m .«, a . r .?, fa ! r .|y well .grown; others show' . plainly' that a. very unsatisfactory time has been ci-perieiieed. ; : Several clips are ' drought-strickeli,..-there'is 7 a hunger fineness .about;.' them' which is. ur/t.liked by buyers,,while, the staple : 'in many cases is deficient in length, Still' users have no' alternative but to take'them;' arid'they wjll' have;to/'tld';'the best 'they-can''with them. We are .afraid the resnlts seen in .Queensland .wools willvbe only too prevalent in the'.clips from :the other: States,, and" there;is every likelihood of meririos .ehowing. leiigth' of 'staple aaid soun'dnessj' through' the Beaton; v, Considering, the .Queensland wools' which;'hhve ■be'iiu-catalogiied;this week, thc ; prices-paid cannot but'be : regorded as very . satisfactory: - ''-EvidentlyJthere-is-a-.'keen' .deriiand for'quality; ; ins fact, /we.'tKnk that demand is more .persistent, to-day than it has .'-been at any time"this year, 1 fine Queensland, clothing, woolsv in several cases making ..oyer two .shillings.:;.;: There ■is ■.th.is.feries.a larger..(iuaritity. of^,New Zealand -scoured'.merinos .than.; we.' have Beerifpr.'Sonie'considerable.tiirie,. arid these are making.excellent prices..'..Thesrj'wools are co.uiirieiuliiig'thc-inSßivcstb all users of meririos, and- if growers: would cease usiitt! tar-for' marking .their sheep ithby;'would find even- keenfjr ; oompetition, particularly fori the lower classes, of stnpje.' .Nothing has:impresse'(tJfts' I m.or6rfflSn l prices made for'lsew Zealand 'scoufeds;'''a ti&tefpf ''id,,';to' Id! can'. : ;iiow/-be" recorded, and'tho"de'niarid is .stilt kcen. r '''When'we' come, to deal merinos, '. another a'dv.-iricis 'is seen,; ...Th'cro is a scarcity of scoured carbonising pieces, bellies and locks, all of"which 'are against the buyer to theextent of 'a good Jd; It is quite true, that these .wools-' are scarce, ana.;this.-may account for the improved, values-which' buyers are paying, .but'.there is no-class of.merino. wool-that '.is not tor dav : commanding;more'.'money, .and selling better. Business at the .Wool Exchange is certainly good, and no fault whatever, can jbe. found with the, way markets areniov- : B - ' 'cioSSEREDS.VEKr;FiRIi.:;; •■;''/ . ; No extra.qiiantity of.greasy crossbreds (b being submitted - from- New Zealand; a largo proportion : of, : the:. oirevings.-. coneistirig' of slipes ..'flnd; scoui ; eds,v tho former being, well' represented..:,, let '.us/deal.'-first' of all with greasy :clcscript-ibns;-. The- demand is exceedingly strong; and' if halfbred'wools are"making :no .more than 'last 'series,; we-:certainly- think' that both, iner. dium and.coarse cvossbreds' are, a full }d. dearer, -and coarse .parcels often ld.comparedwith the closing rates-of last series. The Home.;, trade is' a, particularly keen ■buyer, 'and .several .firms,' appear -as if they'must have wool; rNo. man can', find fault..with.;the.,free, way: crossbr.eds. aro moving, and it is certainly very satisfactory to. find practically all sections ready buyers of this,class of staple. America-is pernaps not,doing,(|uite : as much as many expectedi but-it must, be borne in;.miiid that thore is not the selection this.series there'was.either in July or last-April. The bulk of -the re ; cased parcels have been what',station "clips are beinj catalogued -have not in many cases, been skirted' as .well'as; American buyers like them to be..';" At. the .same .tirne,'on all good, light-conditioned-parcels from lid's : to. 50's,: American influence . is still- at work,-arid even if:.they are,paying no more than-they-did :last series.-.satisfactorj-.fig-ures .are- being,.realisod, it'■ being no. uricommon thing, to/see 13d. paid for halfbreds,: and. /up to .12(1. for c'ross■breds, Lincoln wools still fetching 10d.. to lid. These are prices which no man can find fault .with; : and seldom is.a lot withdrawn. .;" •',.■■;'"': ~ :.. : .; ; :';-'•:'■';.,.' As .-'already, indicated!, the' market ', is firm for,both scoureds and slipes. It will be 're)riembe'r.ed,-that the former sold uncomniprily 'well;last series, and this, time they are, fetching;in:many, cases slightly more money. .-Both the Homo and- the Continental;-trades':ore purclMsing these, wools in "a very creditable way. Practically 'speaking all descriptions , : of- scoured crossbreds are ;at least I'd', better than lost arid, often even Id. .The latter is the.most in, evidence in' medium' and coarse parcels, though 50's to 56's quality are; making l Jd. advance on. July rates. There--is 'ho more satisfactory'feature in torinection ; with the' sales than the freo 'fray,- in' which - the large''supply of slipes 6 bein» absprbed. Good sliped halfbred tombs-nave, sold "this'"week'up: to Is. od;; three-quarterbrcd latnbs- frequently make Isd;'j Leicester lambs,' 13Jd;; and-Lincoln lambs up to 12d.-' These are prices which clearly indicate an exceedingly .satisfactory situation. All d;eep-growri sliped parcels are mostly Id. dearer than last series, a clear proof-of w-hat-is "doing in woollen' manufacturing circles."'Business certainly .is"exceediii»ly-good, l and notwithstanding' the large; supplies, there is no ease whatever in any "quarter. The.; week's business in' Coleman Street has been ex-cellent,-and wool continues to sell at the highest :point of the series. ; PKICES IS BEADFOED VEEY SOUND. There is really not a great deal'now to chronicle in'-'connection with the-Brad-ford trade. To a,very large;extent the influence' of Colenlau lstreet continues, to dominate the; market, and while everything is firm and intact, thero is yet little response to tho way .wool is .selling in Lpndon. With tho raw material moving 60'frejly,''topmakers feel that they, must insist upon having all they arc asking. Mid: if--Bradford is.-.still slightly below Coleman Street, there is.'abroad,aifeeling of indifference to the upward tendency of values iri.'tlis.lat'ter centre. To. be very candid, a larjo- number have -sold all thoy care to, and being so well contracted on forward, account,, are naturally preferring to lio low,-and'not force tho pace. Itls. still difficult to make 2s, 3jd. for good'.'M'sV although' the' bast' makers' say they have made this'pride.; At tho samo time,'.it'is far more easy .to. sell at n farthing less.' The market -.wears a very' cheerful -face; and- the'; tone .-.remains strong'.".-Everybody appears to be" very seriously impressed with/toi'.'firmness of , the raw, material,- arid we must say that there: is-not that talk about "cheap futures";;.''we.'.havo:hear.d.;durine..the' naet

month. Most topniakers are very much indisposed to sell forward nt all, for they feel that'with a prospect of lessened supplies from Australia, they aro risking too much. .-■■ , Crossbreds aro an a very sound position, and Hid. cannot bo called an outside price for 40's prepared, tops. This is a common quotation, but all the sanifi it .has to bo a very good article to command .that price, spinners refusing ont- . right, to - follow in tho wake, of Co,leman Street. A little more! is reported doing in medium crossbreds, and even half-breds havo sold somewhat, better during the past week.' This is rather unfortunate; but some firms have yet some'fair quantities of-40's to:so'S'tops to deliver at a thick penny less than current quotations, and naturally'these firms are very loath to eell forward to-day. English wools contiiuio to be firm, and are selling in a fairly steady: way. • Tho market generally speaking is in a healthy state, and .holders ..are very difficult to deal with.' There is also a very strong demand for skin ■ wools.' Mohair is in a sound way, even if there ig not a great deal of nonbusiness passing. Spinners appear to be •well off. for work, but all the.same they would; welcome more particulars. , .