LONDON WOOL SALES

Dominion, Volume 7, Issue 2136, 30 April 1914, Page 10

LONDON WOOL SALES

final; verdict of cowsman } l£ &■■[■ 'STREET ■ ■:: - :;-':.jFfom' Our Special CorrcsponUenis.) - :. ; ' ■ Bradford, Jlareh 20, -_ bilico writing last the termination of -Ujo second series <rf London sales has eaiiio, and wo are- now in a position to say what is tho standing el the raw material. As the event drew nigh some readjustment of values took place, and it would have boon well if nothing of the sort hod transpired. Wo Js-u.v-o to face the fact that tlio first week was a rod hot time for practically everything, no doubt haslo being made by some farms, particularly American buyers, to cover urgent requirements. That having, taken place, the trade then «eitkil down tt> operate on more mi-sonablo lines, and we have tho fact that tho bulk of the wools slightly eased from the highest point seen earlier in tlie auctions. \vo would rather have seen it otherwise, "lie best- is seen wjicu tho beginning is reasonable and the finish au exceedingly good, one, but when the reverse is the ease it always gives a haodio (to.Bradford in particular) to argue- tiiat. things are weaker. In theory they .are, but in actuality they are not. Whnn tiie demand, is very large, it means lhat until one's appetite*'is satisfied extreme values are paid, but when the urgent rctiuiwfiiwta liavo boe-n met it comes about that the trade begins to buy ou lines mote in harmony with common-sense and- sound business. Tho last few days of the «crie6 saw tiro catalogues cleared in'good style, though as already stated, during tlio" first- week the improvement was not maintained at the maximum point.- Crossbrods in nsost cases lost ground to the estent of Id., and merinos barely maintained the highest standard seen earlier in tho series. Tho fact is, tho raw material was want,ed, bnt tho news emanating from Bradford all through the scries was anything but inspiring, and this no doufct tended to dami> tho feelings of buyers, and compelled them to work to somoivhat lower limits than obtained during the earlier part of tho auctions.

The Alterations. Wβ give below our usual table showing the changes seen compared with the clese of the January auctions;™ Australasian Wool.—Greasy merino, superior, Id. higher; average to good, •Jd. to Id. highflr; poor condition, par to id. higher ;• inferior locks and pieces, Jd. higher. Scoured, superior, Id. higher; average to good, Id. higher; inferior', Jd. to Id. higher; faulty locks and pieces, Jd. to Id. higher. Greasy merino, lambs, superior, Id. higher; racdiu'h, }d. to fd. higher; inferior, -}d. lugltei'. Greasy crossbred, lino superior, Id. to l}d. higher; ordinary, Id. higher; medium superior, h\. to Id', higher; •ncdiuin ordinary, id. higher; coarse superior, }d. to Id, lusher; ordinary, jd. to It), higher; lambs, soparior, Id. fiiglicr; ordinary, |d. to Id, higher. &ouied crossbred, fine, Id. te'ljd. higher; medium and coarse, Id. higher; slipo crossbred, fine, Id. higher; medium, J-d. to Id. higher; coarse.. Id. higher. Greasy I'uiitft Arenas, well conditioned. Id. higher; wastv, Id. higher. Greasy Falkland Islands, Id. higher. Sotith African Wools,—Snow white, saper : Id. higher; medimu, Id. higlier; itiforior, id. higher. Greasy, combing, light, Jd.-to Id, higher; heavy, -Jd. higher. Greasy, clothing, light, !d. higher; heavy, i'd. higher.

. State of Trade. Manufacturing conditions cannot be said to be all that they should he, and although not really bad, they are not so vigorous as oho would liko to sec. Our remarks relate entirely to the West Hiding textile industry, and we should certainly have preferred to have Been ibptiiio tops selling more freely, and also pieces .going out of hand at a more acccteratod pace. Tho writer said at the beginning of the recent London sales that if America had to back out, prices would soon ease Jd. per lb,, and tho finish being slightly umkr the top poiirt of tho series more than. ■conlirMS what we then said. Wo feel to-day that if spinners and manufacturers in .Ijradi'ord,' Leeds, Dew'sbury, and liaddersiield districts were busier, a more confi-cie-Ht feeling Would obtain regarding tho future <M wool values, and although today wo cannot sec where cheaper wool is coming from, there- is now no longer any talk of higher prices, hut rather ilia iwerse. Among .spriiiiers aiid manufacturers there is 3 very undecided opinion regarding tiiti future, Some will have it" that the recent rise bits been overdone, and that there is nothing to warrant dearer raw material. There are too many spinners who seem to bo_,on tho nest edge, as it were, between slackness and just being aMo to run their plants, and some linns aFβ actually running short time. ' It is this face that gives rise to anything but strong feelings of confidence, and it is unfortunate that this should be the case. If business generally were more brisk and mills fully run, wo should be satistied regarding the future, but everything points to » struggle _ being scon in order to kc-c-p plants running. This is rather unfortunate. Tlie American piece trade is not opening out as West Riding manufacturer!) expected, although what is being done is hplping matters a good deal. Still the home trade is in a rather indifferent war, and it is -a fact that wholesale fabric buyers have remained ns callous as possible regarding the rise hi wool.

Trade With the States, A good many American buyers have Itecn present in Coleman Street during llic past two w-celiSi and they are credited with haying purchased 17,000 bales of wool. This is above the usual quaii'lity, but with 20 to %3 buyers being present, it does not average out a great flmi.l. Quo' Bradford buying brfer with iV large American connection is credited with having {mrc-liascd about 8000 bales, hut whether this material is aH destined for Boston and , Philadelphia jio om> actually knows. Still tire weight of wool secured is by no means Urge wkon ou.o. eon&idcrs what, ha-s actually boon sold. Most of tho buyers aro returning next Saturday by the> Lftsitanio, .asul l)ctw«:n how and the opening of the next series they will bo able to test- tho market ! "frith what they havo purchased. If some of the buyers had not- boon eo keen at the beginning, iw doubt thoy would have bought to a litllo more ativantogo, but tho bulk of tho waols are mi ii»ill acconiit, and will therefore bo handles! more profitably than those which have been bought for resale, Thero should bo no difficulty in disposing of what has been purchased. Tho bulk of the fl'ools represent medium crossbred*! and some tip-tip raatorial i h»s been secured. The fact is tho wkolo trsdo is now gcttitig on to its feet, and wo shnll bo. pleased to sec* American mills all fully run. No doubt- tlicy flro having to faco very different 'competition from what they have been doing; and when the time arrives for shewing on Ifllo spring account, American domestic mills will be rather hard put to it. Wo certainly think there' should be a larger opening for colonial wools, both merinos and crossbreds, than there lias been, ami vre aro hoping that Autenran domestic mills will bp ablo to sell their whole output, and so ruu tlselrwn plants. Ttioro is a very good inquiry in Bradford and district for all classw of wastes, and ovwi noils aro moving in considerable quantities. Tim whole trade i.s Klill capable of censiderable development, and what wo now ivant to see above qfvr.vtliinji «lso is- a steady trade, whwh will greatly stimulate homo and | other mnr'ccfs.

Tho Picse TratEo. ju eeitiiiK lines of specialities, n«.\v businoss lins conifi. forward and slu'plijortls have been fairly brisk, but tlm cloths'made bjr many' mills hare been

somewhat neglwtod. Light serges, voiles, tiud other dims g<;ads»aro among the quiet class, and sosno liolisp.s ray thai, very lujht-woigiit tweeds will i>o vrorn partly in plii.ee of those. Medium and heavy-w-oigbt twwils arc <n>o of tli* fovr -sluplq linos that are selling, but this is really due to Ukmii being put. to speck! nsf'S. ft is nimonml that several good orders for mohairs have been given out tills last ton (lays, nmstSy for wen's summer wear. Low quality IhihiKs ,ire going well, ami sonio of tlic better class materials also. Stocks of linings in-o not us low us Uu-y were a. few weeks apco. Titow is n fail , demand for cottons for America between 240 and iSf.. a yard, mostly fancy bJapk ntv] white striped goods, poplins and iioueycanilis.