LONDON WOOL SALES.

Dominion, Volume 6, Issue 1648, 15 January 1913, Page 5

LONDON WOOL SALES.

COMPETITION GOOD. OPENING ADVANCES- WELL MAIN TAINED.

(From Our Special Correspondents.) London, December C, 1912. • ' Tho past week has'again witnessed sonio exceedingly lively sales, the selection' of mqrino3 being sufficiently good to call forth the' increased buying strength of tho whole trade. This series there aro being catalogued some first-class merino clips from Australia; in fact, somo of the best wools that can be expected during the next twelvo months, and notwithstanding that values arc ruling high, evcryono eeems to have sufficient confidence in the future'to' inspiro them to valuo carefully, and bid confidently. Each day's.sitting has been characterised by competition of tho best, and although wo aro unablo to report any further advanco on opening rates, tho improvement is still in evidence, and wool is being taken as freely as ever. Soma appear to be a little concerned at the high values which are ruling to-day, and no, doubt wool is costing something. We have taken tho trouble to contrast to-day's values with those current a year ago, and distinctly higher prices are being paid for'the same clips. Some appear to bo hardly equal in quality, style, and character to a year ago, but there.is often an advanco of Id. to 2d. per lb„ and when that obtains, squatters will to some extent be compensated for tho losses they :may have encountered during the recent drought. There is no feature of tho series which' has been emphasised like the universal demand there is for the.raw material, and it is certainly somo satisfaction to know that trade in all consuming centres alike is sufficiently good to inspire buyers to -take practically all that is being catalogued. The withdrawals are very few ' indeed, and without doubt prices have been paid which cannot but pleaso owners. '

GOOD PRICES FOR MERINO CLIPS. Fine wools undoubtedly form the backbone' of the offerings, thanks to thei arrivals of somo nice weights of new 'clip Australian wools. For really good merinos there'is unquestionably a very keen call, and when up fro Ifid. is being paid for greasy wools, tho market must bo regarded as being fairly high. Glancing over' tho clips which have so far been catalogued, wo find that Midkin at lCd. for the grease combing, occupies a very prominent-place, and the : same can also be said for the .Central Queensland clip, Isis Downs, which sold at the same price. These cortainly are vory good figures indeed, and indicate almost a red-hot market. Gonal sold up to MJd. for tho grease combing; Chowilla, 13d., this ■■ clip not having appeared in London for tho past three seasons. Tho prices realised throughout .cannot but show tho wisdom of the grower in offer-' ing it once'moroin Coleman. Street, and : if ono places alongside the handsome profits which aro being made on imports; it will be.seen that some,time will elapso before tho clip is removed from Coleinnn Street. Edgeroi madel3}d., Bunduro 14d., Marathon 13d., Wingodeo scoured combing 24Jd.. Gibb 25d., CFM.slipe half-bred lambs 17(1., "Wa'renda 24d.', Dunumbra, 13Jd., Deniliquin: Park 14Jd„ Charlton IM*, Ned's Corner 13Jd., Boolcoomatta--12W., Bowen Downs 14d., Talgai : West 14Jd., Champion 14c!-, Torlinga 15d., Clyde scoured combing,2s. 2Jd., Goonoo Gnonoo -Hd., St. Helen's 12d., nil these being representative clips, which clearly ihdicnje tho strength of tho market. Every clip' commanded exceedingly keen competition, prices all favouring tho seller.

CROSSBREDS SELLING FREELY., Tho offerings of New Zealand wools this series are, to say the least, somewhat disappointing, but what else can be expected when tho end of the season has arrived, and tho markot has been almost cleaned up of last season's clip? Seme new parcels should bo to hand for the

January series, but in tlio meantime the remains of the Inst clip arc being nbsorbed with considerable avidity, and wo think■ owners arc doing wisely to soil, and so prepare for the arrival of new wools. Tho offering of good greasy ilecce wools is almost entirely oft' tho man, the principal wools .-submitted consisting of slipes and scoureds, mostly the former. Tho trade never appreciated New Zealand slipes, so much as it is doing to-day, thanks to tho excellent work which is being, done. From practically every freezing establishment, in the Dominion first-class parcels are being turned ont, and they aro needing no pushing whatever, , every lot being very carefully valued. 'I'hero"is a concensus of opinion that prices aro higher than last ■series, with which view we heartily ngiec. If wo consider half-bred lambs, these are selling up to 17d„ while three-quarter-bred lambs aro also fetching from Is. 3d. to Is. 3Jd. The fact is, the trado never seems to tiro of tin's class of raw "material, and as stocks in consuming centres nro very light there is certainly a need oh tho part of buyers to replenish some of the best supplies which aro available. , Many people say that tho New Zealand slipos to-day are very dear, but they are even yet more reasonablo than similar qualities of English pulled skin wools, hence thero need bo no reluctance in: buying the former. It now turns out to .be rather, a pity, that so many re-cased parcels of New Zealand fleece wools "were sold at the last two series; no man living could foretell the improvement which has taken place in the market, and to-day's values are exceedingly satisfactory when viewed from any • standpoint. Below wo give a few particulars of a well-known brand of slipes, which always sells remarkably well, and' receives tlie full attention of tljo trade. Similar wools were submitted last series, and further nice parcels were offered last week, with the following results:— ' .CFM/Domino in Circle/Fairfleld. • , Sept. Nov. Description.' 27. . 27. Slip©, super half-bred lambs... 16 17 Slipe, super fine crossbred . . lambs .-... 14} 151 Slipe, super fine crossbred lambs ..;, HI 15 : Slipe, super 6econd crossbred lambs ;... 10i 111 Slipe, super half-bred combing lambs 15 16 ' Slipe, super fine' crossbred combing 13 15 Slipe, super half-bred. pieces 131 I*l CHARACTER OF 'AUSTRALIA'S NEW ■ < ■ CLIP. The series have now been.on sufficiently long.to enable one'to see'more fully tho character of tho Australian clip. from some", districts are certainly very well grown, and show no sign whatever of tho recent hard time through which tho sheep have passed. For instance, Central Queensland wools aro , certainly well grown, sound, and very acceptable. The quality if anything is a little finer. The clips grown in \Varrego and tho southern portion of Queensland are a little more, dustv, and somewhat shorter in' staple. Thosa from the Moree district of> New 1 South Wales are exceedingly shafty. bright, and a capital length, tho drought; seemingly having affected this part of Australia not a particle. Out West, tho wools aro somewhat earthy and distinctly moro'wasty, and it is patent that some of the large stations have had a rather rough time. Some of tho wools aro very red and earthy, tenderand badly grown. The clips from the Liverpool.Plains and part of New England are showing a littlesign of being drought affected, but not much, up to U!d. being paid this weelc for" good'average clips. When .we come to the Riverina, there is here a most comniomlnblc staple.- On tho whole it is fairly light,' bright, and attractive. "The quality, if anything is hardly so robust, but' the wool is.sound, of good length,.and well grown/ 'Probably the b;st clips' of all are thoso coming from South Australia, these' showing no signs of drought whatever. West Australian wools are-, certainly more or less affected, ?ome bring very ml, "earthy,'and wasty. Still, taking the clips' Generally,, they are better than was expected, and the prices paid for all descriptions are ; very . , v . PRICES STEADY. ; '\[. '.-/. There is-really very little change, to re-

port in the Bradford market compared with a week ago. Tho trade lias now had timo' to eligtst the verdict of Coleman Street, and it is recognised that prices tor tho raw material aro well in advance .of what caii ba made in this mnrket for corresponding qualities of tops. Many 'buyers who went to London were compelled to buy a cortain amount' of greasy merino wool for blending purposes, and there is to-day no disposition whatever to force values to a higher level. A nice steady business continues to bo done, but it has to bo very superior 6-I's top to command nioro than 2s. sd. Some say that spinners are not bidding this at all freely, and tcpmakers, on tho other hand, are equally averse to taking any less, believing that their position is a) 6afc one. The market really has turned a little quiet,'but it is only what can bo' expected after the onslaught of the past threo weeks. All alike aro very much impressed with the way tho raw material is selling beth at homo and abroad, and . there is nothing at present to indicate that cheaper wool is in eight. Whatever one turns, there is business to bo. done, particularly if anyone is prepared to accept a fraction under to-day's market prices, but wool is selling so freely, and is so' much wanted, that no topmakor. feels tho least disposed to take any less. If anything, commission woolcombers are running ■ a shade better, and' directly an adequate supply of direct imports conies to. hand, combs will bo running at full,tilt. ,">. Crossbreds are all holding'their own, and after tho advices' from Napier and Buenos Ayres, 16d. is to-day a fair quotatatibn for a good average 40's top. The way crossbred wool is selling has nipped in the bud any tendency there was on tho part of topmakers to .sell forward. The majority aro now determined to go on a strictly hand-to-mouth basis, and not'6ell what they, have not biught. Crossbred yarn spinners are running full time,, but some appear to be occupying a queer position, for' export yarn houses are not taking up their contracts as freely as might navo boon expected.,. Still, everywhere machinery iis running, and there >&'still tho-same' 1 pressure among Botany spinners. ; Those making dress goods aro not so busy as.might have boen expected, and hero,, too," thero is room for improvement, but ctfatlng manufacturers aro all very busy indeed. English, wools are selling nicely, and, if anything, are. stiffening. At tho same'time one can buy at last week's quotations. Business generally is still Bood,.:and trade must be regarded as being in a''very healthy' and satisfactory .state. '..