LONDON WOOL SALES.

Dominion, Volume 6, Issue 1773, 11 June 1913, Page 5

LONDON WOOL SALES.

SOUND PROGRESS IN EVIDENCE,

(Trom Our Special OormsonUrat.) London, May 2, 1913. The auctions are being; continued undel favourable conditions, and sine© our last issuo liavo been marked by keen competition, with a steadily expanding demand tor the raw material. AY hen ouo considers tho many factors which are acting against tho sound standing t of the raw material, it is certainly satisfactory that wool is being called for in such a way, buyers aro taking readilywwhatt t is being catalogued, and prices are being paid fully eciual to the best of the series. Altiny are under the impression that values if anything are in sellers' favour, and no doubt in one or two particulars that is tho case. Tho most striking fact of all is tho good general competition, and considering tho complete absence of American support, together with not yer.v active buying on French account, it is certainly very satisfactory to find that nothing is being withdrawn except heavy wasty Cape wools, together with tho sec-ond-hand parcels from Australia, Apart from this, tho wool submitted is being readily absorbed, and there is little to complain about. Things might have been otherwise, "but in consuming centies strong confidence in the future still obtains, and so long as this spirit is nianifest, wo think ihat prices are well able to tako cure ot themselves. Iho auctions continue to be well attended, although a fair number of Yorkshire buyers were home for tho week-end. Still, the sale on Monday showed no signs of slackness, and prices have since been well maintained for every class of raw material. Business in Coleman Street W 00l Exchange can only bo described as satisfactory, aud there is now a. fair prospect that the sales will continue to be marked with firmness to the finish. WHERE MERINOS STAND. Fine wools aro still'primo favourites, and there is a full maintenance of tho test prices obtainable! in March, particularly for good combing sorts. On ail liands strong confidence is expressed in the future of these wools, and the call l for them is very satisfactory. As a matter of fact, there is quite sufficient buyiiv power in tho market to lilt tho wools available, and anything showing length and quality is readily snapped up. ihe.'e is a greaji absence of 60's wools, und these if anything aro tho turn in favour of tho seller. We cannot say that heavy, wasty short wools are making any more than they did in March in fact, at times these are a little irregular, due to buyers being compelled to readjust their estimates of clean yield. In fact, some such wools are relatively dearer than the better parcels, und on that account there is not as much readiness to, absorb theso as in January, last. There has been .a fine show of South liistern Adelaide wools, and theso have made up to loid- .0' course, they are of magnificent quality, have been- very w'ell grown, und, consequently, made ' creditable prices. West Victorian wools continue to show a quality and handle which meet with the approval of tho entire trade, and it is a pity that more wools grown in that part of Australia are not available. We aro afraid that agriculture is making serious inroads in tlio wool-growing areas, and on that account it is highly improbable

:hat more wool will be received Irom ;ithor West Australia or tho South-East-1 H"u portion of South Australia. Scoured neriuo.i arc also moving out_ of liand rery* creditably, and making full prices :omparcd with March. As a matter of "act, average carbonising wools tiro doing better, and these aro often id. to Id. ligher than at the last auctions. This is >ntirely due to short supplies, and anyjiio having fino locks to tell can make rery respectable figures. The Now Zeaand merinos this series are mostly fine ind fatty, consequently while selling at loot! prices, the big figures of March havo not been so freely realised. HOW CLIPS ARE SELLING. It is always useful to know how leading clips sell, lor suen liuormation affords a fairiy reliable criterion ot tne uovement at the market, it is a coinnou occurrence for station-owners to split jp their clip and olfer it not altogetner, jut at two series of sales, for in that vay tney obtain an even better average ;han by disposing of the clip all at >nce. "The selection this series has not joen anything liko so good as at the previous auctions, because the current aus;ralian clip is. now last being bought up. However, there are tomo good wools still ill the market, and it is really somo satisfaction to know that good wcols are still jelling well, and commanding very good prices. Below wo show how well-known Sew South Wales clips have sold when they havo been catalogued this year:— ACoA. Description. Jan. April 18. 21 d. d. arease super combing .... li' s 15 Grease A combing 1-lJ , Grease AA combing 131-12J 14 ( Urease Ist combing ISJ-13 131 Urease 2nd combing 12$ 121 Urease broken 11l 12. J Grease broken 11l Hi ! Urease skirts 11 Hi ' Urease skirts 11 10-1 Grease pieces P ft Urease bellies 8i Grease stained pieces 7 C^Urease locks 51 5j Cy. ' Jan. March April Description. 18. 15. 22. d. d. (I. Grease A in dia. combing 13\ 13; 13 Urease A in dia. combing 12V 13}-12J 12J Grease AA combing 13 13 12} Grease A A combing 12 i 13 12j Urease AA combing - 12} 121 Grease A comb-, ing — 12 111 Greaso B combing 12J-1U Urease broken E... 1 i i 11 t 11 Greaso broken ii... 1D» 11$' 11 Greaso Ist pieces 10 V ]0i 10J Grease 2nd pieces 9-8J- 9 Sij CROSSBREDS IN GOOD DEMAND. One very surprising featurcof the series ig the ready absorption of the largo supplies of crossbretls which have been catalogued. This shows that there is still sufficient power in the trade to buy freely what is for sale. Of course, there has been no big tiuantity of the better grades of crossbrcds, only good average topmaking wools being available. The homo trade is competing keenly for these, and paying prices even in excess of those which similar wools brought last series. These heavy, skirty, stumpy, coarse descriptions are to-usy, in tho majority ot cases, making 10id., while anything a little longer in fetaplo is realising lid. We call prices fully on a parity with last sales' rates, and on a corresponding level with the combed top in Bradford. The way all descriptions of crossbreds are selling iias indeed como as a mild surprise to tho trade. Both France and Germany are also taking more of these wools than they did last eeries, their support being responsible for the increased firmness of the coarser descriptions. Scoured qrossbreds are also somewhat scarce, but are selling freely and making prices equal to last series. Another satisfactory feature is the keen demand for slipes, and these are all occupying a. very strong position. Wo cannot see that- nice halfbred lambs are making more money than in March, but anything showing nice length and decent quality are easily making IGJd., although they aro naturally on the short side. Leicester lambs are also soiling up to 13>d„ and Lincoln lambs 12Jd. to 13d., but the greatest surprise of all is the prices which seconds and thirds aro fetching, it being here where tho Jtl. advance is most in evidence. We certainly think that tho position of crossbmls is Bounder to-day than at tho beginning of the series, and firmness to tho finish will certainly add material benefit to tho trade. America is doin" practically nothing, the one or two representatives simply contenting themselves with watching tho situation. PRICES FIRMER IN BRADFORD, The condition of tho market has not clnn"ed materially during tho past week, and It is quite evident that business operations have been somewhat restricted, The continued firmness of values in London has strengthened the tone in the Bradford market, though quotations there have not actually changed, and it is not possible to-day to rnako an advance on

any description. Tho maximum price for an ordinary Gt's top is half a. crown. ' view of this tho position of topmakers is becoming u difficult one, for the l tendency of five wools is distinctly on the, dearer side. Buyers of the raw mate-rial aie finding it extremely difficult to get in at such figures as leave thorn on jlie snle si<a? with forward contracts, and, besides tin. , spinners' bids nro looked upon with liioie reserve by topmakers, when those ma. 1 ) ore actually made. The weight ot business done 'in Bradford JutA been' vei.v largely in fine tops, and here all prices aro substantially where they were a week ago. No topnialter can lis found fa the present time who is abls to make more money, but makers of all sorts sre standing exceedingly firm. Topmakers persist in their argument that the initial cost ot the raw material and tho general state ol tho trade Will warrant 110 le ; s prices be-, ing taken. After the recent operations' in crossbreds things have turned ratiier quieter again, but oven hero the market is not dormant, and small salcsxontimu: to be put through at value? which can only bo described as on the low side. it has to be a- good JO's prepared to make 103 d., and the demand seems to lean more to carded sorts. The patience ot holders of low quality yarns has been tried long enough, but tho reports from Continental centres, as well as the actual inquiry which has recently begun to filter through, bespeak batter things in this branch of tho trade. It would be an exaggeration to say that things have been absolutely stagnant, but a larger and more reliable turnover with some of the Near Eastern centres would have made a considerable difference. For the time being the Home trade is the best payer. Mohair and alpaca are very quiet. Those interested in mohair are mostly waiting to see wlmt turns out in regard to the strike among the sorters, "which threatens to become serious.