LONDON WOOL SALES.

Dominion, Volume 6, Issue 1784, 24 June 1913, Page 8

LONDON WOOL SALES.

FINAL VERDICT OF COLEMAN , STREET, (From Our Special Correspondent.) London, May !), l-JIH. Last Wednesday saw tho finish 7 of tho third series of co'lonial sales, buyers generally being glad to get home. Tho series lias not been an unduly long one for Uiis time of the year, but considering the weights of wool which aro in consuming centres, wo think that fourteen days was sufficient to allow tho buyers lo meet all their wants, ond, taking things ill tho • aggregate, we think tho final remits are creditable. As could only bo expected, Iho catalogues towards the finish contained a big selection of miscellaneous wools, mostly suitable for homo trade purposes. The lust three days of the series saw no slackening whatever in the competition; in fact, wo thought ihatbuyers were keener than ever, although they were not disposed to pay advanced prices. Still, the auctions luivo been marked throughout with exceedingly good competition, and tho final results cannot but bo regarded as satisfactory. Possibly some of the firms watching colonial interests wero looking for further advances, but when all is said aud done wo think in view of the many adverse factors which the trade has had to face, tli.il the work accomplished is creditable. It should be borne in mind that both tho Homo and Continental trades have big stocks at Home, in fact, nobody l'cally was in want of raw material. Still, buyers have all realised that what they bought to-day would probably stand them in good stead later in the year, and this lias been (lie prime factor in inducing the majority to operate. _ Many have looked upon the rcccnt scries as a timo to "pick up," but ive arc afraid that very.fetv cheap lots havo been secured, there being one unanimous opinion that wool has sold at top market values.

MERINOS CONSIDERED SAFE. From tho very first the demand ruled good for fine wools. Somehow there has never been expressed the least fear about the safety of merinos. It is quite true that to-day there is no scarcity of this class of material, but it is expected by July that the Australian shorlago will be moro in evidence, although to-day it dots not appeal at all powerfully to tho minds of users. That no doubt is because practically everybody has enough by them to moot "all tlieir obligations till August or September, but it is from August to November that any paucity in supplies is likelv to be felt. Some are doing all they possibly can to' belittle the significance of the shortage, pointisg out that the somewhat slackened state of the manufacturing industry abroad offsets the shrinkage in the current colonial clip. However, merinos have held their ground Hplendidly during the recent auctions, and it is a fact that cxccpt for the heavy wnsty greasy merinos, the demand has been good at steady and firm prices. At the same time, the Continental section have not been active supporters of these wools, particularly France. German buyers have bought on a larger scalo than their neighbours, but when all is said and done, the raw material has been shifted creditably, and prices equivalent to March rates have been made. We cannot see that scoured combing merinos have done any better than tlwv did at the previous auctions, but for tho seedy, burry carbonising wools, the advance is a good Jd. It is rather noteworthy that secondhand lots have not sold so freely at the rfcpnt auction as in March or January, duo presumably to high first cost. Of course, the earlier bought wcols are now off tho market, it being the wool purchased in Australia in January which has been rcccntly catalogued. These wools havo all come in a fairly stiff figures, and owners have never hesitated about taking in the wools if they could not gat a profit. Some lots catalogued the first week of the series havo been up again this week, and have made id. on tho prices bid ten days ago. BIG WEIGHTS OF CROSSBREDS

READILY ABSORBED. Tho outstanding feature ot the auctions is undoubtedly tho ready absorption of big weights of crossbreds. It is hero that wo have tho surprise 'packet of tho series. During the past week it has been almost a daily occurrence to have offered from IiOOO to 8000 bales of crossbreds from Now Zealand and Punta Arenas, and they havo all been absorbed'without the least hesitancy, and with increasing competition. We cannot say that higher prices havo been ruling, but it is a fact that there havo been more .people for tho wools, a clear -proof that there is still confidence felt in tho future of these wools. Some fair weights of faulty 10's preparing wools, havo gone at 10! d., while the heavier and more stumpy grown lots have usually realised lOd. When wo come to 4G's, these have sold around 11(1. to lljd., while halfbreds have made anywhere from lljd. to 13d. We call Sli's to 48's crossbreds firm at March closing parity, but fino halfbreds have generally moved in buyers favour, down to Jd. German buyers have bought more of .these wools than was the caso in March, and a few nico lots have gone to Eoubaix, but 05 per cent, of the offerings have been shifted by Braford, and will either serve for combing tliero or recasing in tho hope of being able to pelt suitable lots to American buyers. The offering of scoured crossbreds has been very limited, aaul these havo sold on n' parity with March, tjlipes luivo been on tho whole rather scarce, but havo .sold readily, good lialfbred lambs making from 17d. to 17Jd., fino crossbreds 15d. to 15Jd., Leicester lambs 14d. to 14! d., and Lincoln lambs 13d. to 13Sd. Tho call for seconds and thirds has been exceedingly strong, and for these wools excellent figures have been forthcoming. Tho carry-over of crossbreds is much less than looked likely at the beginning of the series, this fact illustrating how they havo been catalogued urd absorbed.

CHANGES SEEN. Perhaps wo cannot do better than sub rait tlio final results of the auction, and tho changes when compared with the close of tho March series are as follow AUSTRALASIAN WOOL. Greasy merino, superior, par; greasy merino, average to good, par; greasy merino, poor condition, par to Jd. lower; greasy merino, inferior locks and pieces, par; scoured merino, superior, par; scoured merino, average to good, pav; scoured merino, inferior, par; scoured' merino, faulty locks and pieces, id. to Id. dearer; greasy merino lambs, superior, par; greasy merino lambs, medium, par; greasy merino lambs, inferior, par; greasy crossbred, lino superior, jd. cheaper; greasy crossbred, lino ordinary, Jil. cheaper; greasy crossbred, medium superior, par; greasy crossbred, medium ordinary, par; greasy crossbred, coarso superior, par; greasy crossbred, coarso ordinary, fully par; greasy crossbreds, lamb?, superior, Jd. cheaper; greasy crossbreds, lambs, ordinary, Jd. cheaper; scoured crossbreds, line, par; scoured crossbreds, medium and coarse, par; slipo crossbreds, line, par; slipe crosslireds, medium, par; slipe crossbreds, coarse, Ad. denrcr; yreasy j'nnta Arenas, wcll-tDndilionod, par; greasy Punta Arenas, wasty, par to Id. cheaper; greasy Falkland IsiamK par.