LONDON WOOL SALES.

Dominion, Volume 6, Issue 1745, 9 May 1913, Page 4

LONDON WOOL SALES.

The third of the series of London wool sales, which commenced on April 22, closed on Wednesday,_ and tho results may be regarded as highly satisfactory. For merino wools tho market was unchanged as compared with tho closing rates of the previous series. Fine and medium crossbred, for which American buyers usually bid, declined slightly, and this is easily understood, for there were no American buyers, in view of the lowering of the wool duties. Perhaps to this circumstance is due the heavy withdrawal of New Zealand wools from the sale. The carry-over is approximately 50,000 bales, and fully half of this is New Zealandgrown wool. Coarse crosshreds advanced 5 per cent., and this was about the only class of wool to show any change. From present indications wo should say that crossbrcd wool gives the best promise. Fine wools aro exceedingly' dear, and among wool men tops at 30d. per lb. arc regarded as being dangerously high. Tho margin between sixtyfours tops and thirty-sixes is very wide, and the one must drop or the , other must rise, to bring the margin to normal. Tho comparative cheapness of crossbrcd wool will presently result in tho production of fabrics from this class of wool, as wa-s the case a few years ago, and the ladies will again find "Amazon" cloth and "oamol hair" among the ultra-fash-iohable dress materials, but masquerading under new names. Tho sales have shown remarkable strength, especially when one 'takes into consideration the many factors that were operating adversely. There has been a prolonged period of dear money, with no immediate prospect of cheapness; the political situation has been highly dangerous, and is still beset with difficulties, and lastly, there is the tariff change in America. The fact that tho wool market has been strong in spita of these adverse influences, is an indication that prices will rule for some time to come. The pnee of wool has an interest not merely for the grower, but also for the public at large, for tho increased price means so much added to_ the purchasing power or the spending power of the community.