LONDON WOOL SALES.

Dominion, Volume 6, Issue 1770, 7 June 1913, Page 6

LONDON WOOL SALES.

SERIES. OPEN WITH PRICES FIRM AND UNCHANGED. (From Our Special Correspondent.) London, April 25, 1013. Wool is again commanding tho unreserved attention ol' tlio entiro trade interest at present being centred upon Coleman Street Wool Exchange, v.'iici'e tiio third series of auctions were inaugurated last Tuesday. Whenever the timo approached for this event to talco placo, thero is always a very largo attendance of buyers, aiul tiio opening 011 Tuesday was 110 exception to the rule. UllO missed tcveral well-known American faces, but bo far as tho attendance of the Homo and Continental buyers was concerned, thero was nothing whatever wanting. As a matter of fact, with tho wliolo buying spirit of tiio trado now being focusseu upon Coleman Street, thero wero naturally several faces which had not been seen for some months, these gentlemen having returned from overseas markets. Alter what wo havo recently seen iu consuming centres, more than, ordinary interest was attached to the opening, and to lind tho beginning so good shows that after all tho raw material rests upon a l'airly good foundation. Why should it not i' Thero may bo at tho moment big supplies of wool in tho West ltiding, and in Continental consuming centres, but considering tho time of tly year this is nothing unusual. When buyers havo been in Australia live months, they naturally want something to show for their services, and at tho present timo overseas purchases are coming to hand freely, causing consuming centres to present a rather congested appearance. Still, a lean timo is coming, whqn tho anticipated shortage in the curent clip will bo manifest, and wo see 110 reason why tho trado 'should not be able to absorb tlio supplies, providing too big weights aro not put bcforo buyers. However, brokers in London are fully aware of tho fact, and wo beliove they have decided not to submit anything liko tho quantity available. A DISAPPOINTING INTERVAL. It has been well said that out of tlio immediate past thero is always evolved the immediate future of prices. As wo look ovor tho past month, it must be recognised that the vacation has been shorter than usual. Somo havo gone the length of saying that it would havo l>eeu as well if tho current series had been delayed till after the Whitsuntide holidays, but that cannot be. It is to be regretted that prices have slightly receded both for merinos and crossbrcds, at least many topmakers hate seen fit to accept a fraction less in order to effect Bales. No doubt some financial stringency has been in evidence iu consuming centres, though it is well known that at this timo of the year there is always this to faco. No firm, however wealthy they may be, can land thousands of bales of wool week after week without feeling tlio strain, but it is cause for thankfulness that nothing unusual has' transpired, and is not likely to do. The now business actually done during tho interval has been lighter than usual, in fact tho vacation has been quieter than wo have seen for many months past. Business generally has only been possiblo at a shade under what topmakers wero quoting, and so recently as last, week good standard Ct's tops were sold as low as 2s. 5U1., while oven tlio better makers camo down Jd. 111 tho caso of crossbreds, topmakera have in several cases taken a Jd. under what they mndo at the close of tho last series, and to-day it would liavo to bo a very good 10's prepared top to fetch more than lGd. Under theso conditions everybody sees that the trade could only come together with somewhat mixed feelings 011 Tuesday, many expressing somo doubt as to the probable course of prices. However, all alike felt that there is nothing wrong with the standing of wool, the trado simply being n little hard up owing to big direct supplies, but it is to foe hoped that the current series of sales will establish confidenco and show that the raw material nfter all is standing on a very firm and satisfactory foundation. LIST OF ARRIVALS. It will be remembered tht the net arrivals were limited to 150,000 bales. The total was reached, and the gross arrivals show that thero has been a big movement of raw material. Since tho list was closed for tho March auctions no fewer than 389,700 bales hare arrived. Of theso 227,000 baL?s have been forwarded dircct to manufacturing districts, leaving with the heldorar wools a net available quantity , of 187,000-bales. This is a fairly big meal to digest, but owners have no intention of offering anything like this quantity, and their decision is a wise one. It is at present too early to say what is likely to be the ultimato course of the auctions, but so far as offerings go thero will be a fair carry forward at the end of the series. The following aro particulars of the arrivals compared with tho third scries during recent years:—

*The second and third series, which began on April 11, 1912, were amalgamated on account of a coal strike. •

ARRIVALS FOR THE THIRD SERIES. Cross Forwarded. Net Arrivals. Dircct. Quantity. Tear. Bales. Bales. Bales. 1913 389,700 , 227,000 187,000 1912* 002,500 348,500 273,000 1911 3G(i,G00 203,500 201,000 1910 431,500 270,000 170,000 1909 377,500 213,000 177,500 1508 318,000 132,000 263,000 1907 352,000 197,000 100,000 1900 316,500 1GG,000 157,000 1905 29G,800 150,5C0 105,000 1904 297,500 128,500 183,000 1903 301,000 ■ 113,000 208,000 1902 367,500 139,000 239,000