LONDON WOOL SALES

Dominion, Volume 7, Issue 2172, 10 June 1914, Page 10

LONDON WOOL SALES

THtßfl SERIES OPEN SATISFACTORILY, (Prom Our Special Correspondents.) trillion j May 1. Once again the trade liuds itself in trie tbraes oi' another series of London Sjiles. the Hiole huying spirit of (iieat J>ri t a 111 ant) tho .Co-utiiwHt, as nx-U aa America being again foc-ussed in Coleittau street Wool Ssohangc. Several onyeis who have riot beeH -sin-co last- .July are again tramping the w&tji waiohoases m tao city, and thev Imvc come to a pix'ttx, warm place.' ifi-ere is Hcnoral Ogfeewoßt blurt who] is dear and irom iviiai.-y-.,-. stnlidpoisit the raw material is looked at,-wo think that that nuist- be n-cluiitt-eit. It was well remarked the other day that ass em oi' cttwß wool looks a very long ivav off, 111. tact, many are. keginnhig to think i that the trade, is going to haye to readjust Its views.regarding .woo! values, ior a$ la? as one can See ars K'ouig to. move upon .'i higher level than many spiNJWs and niamifactitrors ha-, 0 ecou aeoustomed to see. tile writer «;as tailuiiK this week ,to an old mann-

. ueturer, who was bemoaning tho fact that wool fts well as other nirinnfnrturme com moth ties was dearer, distiiictlv dewer, ami although ft n said track in the West fiiclmg tvas far from beina brisk, and he felt fearful of a faß. yet ho had to admit that in face of I.otiuwi such an idea, seomird altogether preposterous. .111 is manufacturer it-s-sured me- that he would .have to alter his ideas',about things very much, and it is n fact tii-at the ivorW's wants are today so Jargo that fatter wool prices seem impossible, and while there will always bo fluctuations of 5 to 10 per cent,, eueap wool is ft very loii-g waylqff" In fact, everyone coalct make-up Jits mind, to the. opinion that unless sometlMiiK extraordinary take? place in i,h<. flnaiicial or comntcrcial world, wool is not geiiig to decline much, if al all,

Trade m Buying Form, There is it.lKaj's a pleasure hi knowing t.liat tlie t#ftde is in u tnood for opoiatutg, and the various scotieirs m* : ?«rat>tod last Tuesday with fcciiiws of ofitijHisjri gcneraHy prevailing, ivery•v ihey must buy, and in some cases take lj )g weights, dteMfow *j,' 1 "" <'t Iviisnwss «-as iolt m il w Kxctranfto, _svlugli has Hot'alwUj's bceti nrelf iU> » is fitueral ag.rec.maht with the sUtemont that tire home tradn has - i,TOn ".il'piiig, iind that stocks m swwwj'Hmg Wtors are lsefow norlira.!, 'I hat. is nali.y a fact which e.m-; he ■ pored .and- it hs well that it- is SO; »!' have known tile Alav sate? see prices soinewiiat ehsior bceaUso the coin SOTime e-wd of till) trade was heavily w (.'lKnterl ivitli .Htijcrkp, duo to the very heavy direct imports, hut the contrast ! s com-pa-rod with the corrcsroindtns date a year ago. Then ware, ■lawses everywhere, incMiug jailwav staiiOHs, were packwi to the very doors, ■out to-day horns trade spinners and Ki a iiij-ftti.re rs adjust being lightly ■

Stacked, M;mtv topnijikors especially S o. ll;ls ]S a. i'firj' augiary f.or h sue<'esss til series oi snles, arid means fliat asay. firms wfll have to buy consider--quantities, afld -this fast is everv(.viiere n; evidence. Those firms wl-io hare be<.'ii selhiis forward without covcrmg. -are plaucd io-d-av in tlie r.iedicame]it o.f having to tniy with prices its, i .ncily against theni, hut thfe.y will haVn to carry out their obligations, mid thcfefoife everything points to .«s)«jrai acin ity on their part. Wo also under. ste»4 that even I'rarah buyers are today preparca to operate, fa-irtv cxteiiSively, and if that .is so, then not oulv will tlwf fitst week ho a Mvdis time, but it will mea-ii a contir.uanen of such satisfactory t-onditirms right tfl tlio fiaish. *\o am convinced that statistfeatly the iveol situation :s exccecliiigly syunrj ; "i fa';+, seldom lias there.' been a time.in the history Of the trSfto in a third «erroß wh6a the virions seotimis hsve sh®wn that kfleitness whirii im.s ljoe.li to evidence this week- Germany «o appears to be prepared, to biiv fair* | ly well:, -and although Amefiflii so fiir ; has not been an eicceitiiigij- keen luyer ' pTf)St)e<it of heiiigjio chesjier is proni.ptiijjj th:ose in-a ikisiijoTi to do so . t-fs tover their .ftituro requirements.

Wools Available for Safe. . The offerings do not vary a great (leal for a-, third . s<ws, except ' that (robsbrods rtmo plentiful than, It ono rcclioiis the South Amowoati's to linud tiiore is mi availablo fjilSlitity of ]50,f)00 b<iltjs <?f a fa.U'ly trig tnoal to digest . It is very doubtful if this weight of wool will bo but tiirit remains to ■!.>$ Eecn. Getieraliy wn find the liowe a keeti (myor of these Wools, and' thk ■smcs % mil be in the same category. Uio wrr»n<?s are'vpry litiiitcri and one cannot reckon much over ft>,ooo b 9 te as be«e ftvaifabte. Ammik j tiif_ Vietormii wools there -svill U a fair sprinuluig of crossbf<;d.%- hoijfle tho ,«o. .eotwn wilt bft limited, i;iion f ;li it WKnil'd - fairlv ro.kl. No dcebf. tlw Victorian wools ivill consist large.ly of sowndpamdSj ajid scinio of bm mermos grmvii in -thst part of Axistraha. One canriCf6 really expbet nnvthing very sp-eial from tfo othw fetstcs, but all t-te snmo them will h& a go&d. deiiiand. Jt is disanpoi'iiting to roaay turns to find that lio'brg Weights

: have been' sefvt hack frsm flic Coutili&nt tor resale, and Franco seems ivdl able- to tsfa'to good its largo Aus'tr-aiian purchases, my n Oormaiiv ktely being a good b-vor at Roitbais. Tile I'olioivinc 15 a useful iah!« showing , tli® different pfta'sss of the arrivals f ot the third wsries of sales duritig racoiit Arrlvals fer the Third Series. Gross Forwarded qnanarrival;;. direct. • N.Z. tity, Tftir. Bales. Bales. Bales. Bales. Wit ... 107,200 \ 22.1,0 M M 0,130 iSS,2OfI 1013 ... .'iB9,TOD 237,000 1,00-,DOO 18,7,000 10.12* ... 602,500 343,500 150.20(1 273,00n 19lt ... 366,500 203,500 102,000 J),1.00li MM ... '431,-500 '259,009 10?,3® 170,009 1909 ... 977,309 313,000 101,200 lf?,5()B lOffl ... 318,000 132,000 147,000 2«! IXiO 1807 ... 352/000 137,000 93,000 160,0110 l«0fi ... 316,500 166,000 91,«K) 157,600 1905 .... SGJOO mm 88.000 i65-r,f3o 1904 ... 297,500 128400 SAOOO 183/108 ... 301,000 ii3,tiflQ ra;w 208,000 1902 ... 887,®0 139,000 • 85X100 ' 2fla'(K)B ' I»0t ... • 255,5<>0 82,000 90,400 262,000 1900 262,00(1 | 77*509 85,fl;0(J 3'J0;600 *The second and third series, which I>bgisn, on April 11, 1912, were amiilgiuluifcd } On, ucwuut of si "coal strike. 1 •

A Commsnclabtc start. The sale. «m 'jftiesttay proves! to tie jHs-i about, equal t<> exprctatimss, there li?.i.{ig the liswa'l large attendance of buy, hxß,, with a lair representative. number from Aworica.' At I 'the-santo time, the rittciitlance- iri»g nothing Hko so large n.s ht the Inst series, 'fliera were four sollprs, oho eara!og:ie consisting entirely <rf Puuta Arenas weots., which wei-e. far from being r< alfy good, "As a matter of ftwi, tfo oiferitigs af 'fteri.itos ivore very poor and scrappy, there being by too means it. representative show. Tii! 1 sale began ptnic tally at 4 p.m., iuul hom the very start rempetition

ruled sow:. Tito wools being the most suitably .tor tiro Homo tr.ailir{<! was naturally support -forthcoming at- tho Hill-ills of U!/.< liiadford buyo-rs, and the-y »ecvijcd by far the (nriiest percentage or the offerings. For the few nwM'iiios \va ruuld see- very Initio chs«R«., although «eeasioualtv prices- tended in so-iters' hi your. Any adynttee was well covered "5' id. CrossUretls did 3iot show much cjwmgi?, although many wo-iild J-iar-e itmat Halfl.treds- wp.ro 'par to 5 per cent, dearer. As a matter of fact-, no ttescrip* twii-s of criissbfo'ds did vc-ry pnidi njoro tl-isil maintain, tljto close of -In.st series' ; rates, but as a tide, prices were about .par- .Puma .'Arenas W also sternly 1 ft'itl wirliattged, ivl-rilo tine poor show ef Cape wools wet slightly ,iu sellers' iavpvir for the grease combing, although snow whites barely maintained the .extreme prices -of last series. Tl-re opening teililts wore regarded as satisfae- : to-ry. Swrcer-Jino s.tbs Tiave nwfo than eon- ' firmed opehiug -values, and mofi-tias iinaei" a bet-tor show have freely -appi'eciated 5 per cent, Orosshretfs arts sell-'] tng well at st-ea:dy -opening prices.

Tho Outlook, With reference to tho outlook, aJ.oss.i's. il.. Dawsoit and Co. stiv : --' ißur'I 1 " lile past interval, despite" the holiWIVS a!li ' «-somewhat quiet period as u<?\v husan'.ess, the' \v.oo{ iifls ratkef tlirtn. oterwi^e. tile sitpatioii is, of course, simplified ■ the that the oversea iivarkcts arc now closed, the -sii-p-plies are Row restricted to London, i\-licj : e the (fu-arttitles, on the mte. haiid, and the world s demand, on t.iib other, are eas-<-l>- <letormiiiab!c. Tliore i a .110 doubt aßout the easy alisorption ef tlie re-si--000 available for ti<e year. The only question is whether hi merinos the .supply will bo adequate for tbo requireJl »"its_ and needs of the iminstry. The srtua-tioit in lfierinos at the moment is mia time is causing serious concern in the hne worsted trade;' The preference for fine-goods is- sti!-i my marked, and tile qukh absorpticn of this sea' son's colonial -alip has'-been surprtsin-g. 1 m - BIUC trade is undoubtedly very badly placed as regards its stoi.'ks, o.M-d-, uuliirlunitteiy, there seems to be little cvtajico of relief <sithsr trt values or in any awmmtation of supplies utvvtl the new clip arrives towards the end of tie vear. It becomes increasingly evident that- lwhinery cannot, ha kept fti-lly sunpiied this year with f;no wool, and oi)o is forced toihe <:onclusit;u that the to-aohiaery. requirements of our iiiidtis'tr.y have, fully overtaken the supply of Taw materkl. "On.isslueds do not constitute so serious or so, _ur,wut a piVsbkMn, being plentiful at this s&riss. They wiH-, hcjwever,

hnd a werld's ■pctrtioii will he foEussed . in London, while; the'shortage hi the River Plate Clip -i-S already hoini; felt, tlicse latter TOWS having practically all gbiV6 into consnmptioi!. Moreover,' y.o.rkishiro fs 'imiMiatly hate of stocks, and will . rejl«iro to operate hc-iivily, C<Hise,qii.ehtfVi when n brc.ad view is taken, and wficu the availaWn snrplus—after this s'tips—for the roniiiini-ng six months of i 6 Yc ' lr ilth the roflkoiiiiig, the strength af the position in erefshresfe is self-evident, ' The uivdtie pro-: pmiderauce in the praduAion of 4Fs to 4(i's grades, whic) is y(?a,r]y bocoTiii ng wore marked, tends to keep these sort's* ■: a relatively oiioaper level, hut tiiey a.ro thus wflrging out-.'their own sak-a-tion. and eri:-atinK a demand.'. - Cheap moiu'v is., fortunatelv, favour"■a flio situiitimi, : mininiisiirg tho ■clumces of airy weakness in tW-nife-ket hncanse nf heavy , supplies '■ sit this ' scri'!>S. The valiiss in file wools are now flppr.'iachitiß tlio'danger point of I5!)P. hut thero seems io he little chance of relief under tiro present coiulitions of demand and supply >'n these sorts,"