OURYORKSHIRE LETTER

Dominion, Volume 8, Issue 2489, 16 June 1915, Page 4

OURYORKSHIRE LETTER

MERINOS AND CROSSBREDS ON A LOWER LEVEL

(Prom Our Special Correspondent.)

London, April 30, 1915. Once more the interests of the trade have becomo centred in Coleman Street Wool Exchange, where tlio fourth series | began last Tuesday. There was the usual large attendance, tho Homo trade section being particularly strong, also a few were over from France, but America was less conspicuous than at any series so far this year. No 0110 need wonder at this, because all accounts agree that tiio textile industry in the United States is far from boing brilliant, in fact Bradford linns intimately connected with America candidly assort that trade, is very bad, and that hardly anything is to-day wanted. Olio prominent firm remarked this week that instead of shipping big woiglils of line botany noils whicti tlioy luivo bought for the States, they woro asked to resell same in Yorkshire, not it very satisfactory state of affairs. Still thcro was no diuiiuuatiou of interest iu the oponuig, and thai vitality which is requisite for any series of *>ale& is iij evidence to-day. Wo have seen a brisker time. There has often been a more pronounced display of keenness in the bidding, but when full cognisance is taken of tho largo quantities of wools winch are at present facing users, we are certain that tilings might have been a good deal worse, it is a well-known l'act that many firms are suffering touay on account of financial stringency, it boing their wish to buy, but in face of big stocks of wool which they cannot got combed, they aro feeling their tion somewhat acutely. These things are helping to somewhat blunt the keenness of buyers, which has been so pronounced at previous series this year, the current auctions finding a big weight of wool to lift, with not everyone in the best frame of mind for the ordeal. A Big Display of Wool. If the weight of wool which has arrive tUior tho. current auctions is catalogued, then there is going to be a good display evory day, at least the catalogues will le well filled with both merinos and. crossbreds. Tho reader will see from the undermentioned particulars that about 14.6,000 balos of merinos are available, and 75,500 bales of crossbreds, quite sufficient to satisfy the wants of the trade. Some have already gone the length of saying that the last four days of the auctions will be knocked off, but that remains to be seen. Looking down the list of arrivals one can see that New South Wales, Queensland, West Australia, and New Zealand are going to bo very well represented, and there is more wool to hand from Victoria, Adelaide, and Tasmania than we seo as a rulo. This emphasises the good selection to which we have called attention, and if anything like that quantity of wool is lifted there will be reason for thankfulness. The following is a detailed list of the quantities which have arrived from tho colonies for tho current series of sales:— New Total arrivals. available. Bales. Bales. Sydney 68,500 58,450 Queensland ... 53,100 32,400 Port Phillip ... (30,501) 13,600 Adelaido 19,400 6,900 Swan River ... 22,000 22,500 Tasmania 17,700 3,300 New Zealand 139,500 75,500 Cape 58,750 , 9,350 414,500 222,000 About 10,000 bales Punta Arenas, 1500 bales Falkland Islands, and 200 bales llivcr l'late will be offered this A Decent Start. | We must admit that the opening results, were not on tho. same high scalo that we have seen at the previous seaues this year, there being mora reserve manifest than we havo seen recently. This certainly is the result of the majority of buyers not being lot' tite raw material, it being a confession of many that they qtyi do very well without buying anything further for at least two months, but force of custom compelled them to turn up and see how things shaped. Every little competition helps no matter whether the market is strong or weak, and one or two firms operated on the opening day which have not been prominent buyers for a series or two previous, particularly in crossbreds.

Fine wools proved to be a somewhat miscellaneous show on the opening day, tiers being both good and indifferent wools catalogued, t'he latter prodominating. It is a long time since we saw 12,500 bale 3 catalogued at an initial sale, these panning out to something like 1700 lots. For the very best wools very little change could be seen compared with the close of the previous series, and we call the best scourcds and greasies, on tho whole, firm. When wo leave these, we have to tell a story of decline, and call all medium wools 5 per cent, cheaper, with faulty parcels often '7$ to 10 per cent. down. Some want to belittle the fall, but we believe in giving an honest statement of fact. Buyers purchasing tho Continental style of wools know distinctly what lies ahead of them, and say that thoy might have to put theso wools into stock anywhere from three to six months, and if that is the •case, they do not believe in being called upon to pay interest upon the capital laid out in them. Fine crossbreds mostly lost ground to the extent of 5d., while medium and course qualities declined Id. Slipe and scoured crossbreds were steady, and unchanged. Tim sales have continued to make progress at- about rates unchanged, compared with the opening day; except that orossbreds are now IJd. cheaper.