LONDON WOOL SALES

Dominion, Volume 8, Issue 2570, 18 September 1915, Page 3

LONDON WOOL SALES

GOOD PRICES STILL RULING FOR MERINOS (From Our Special Correspondent J m,. . , ; ' London, July 2J. rJS 8 15 J" 1 ?! £ourt ! 1 week of the current Rjies, and the end is due in two days, it being considered policy on the part of importers and warehousekespers to close the sales on Saturday, and to carry forward the remainder , r.f (be offerings'till the .next scries,. which w'll begin cn the originally scheduled.-date, ' September; 7.' w J llO4l ,? 08 . (Vu u'd not have .been closed but tor the .inability of th«. wuehouse- • keepers to get bold .i-fiho/woil' for show- ?? Purposes; ,fo- there mill exists considerable congestion, especially'at tho wm. shl E 3 .. a . r <> flnptied and the baies aie thrown out in any fashion, all of which ncccssit'iles consHe.abif. work in separating aud getting lo their respective warehouses. This war has upset all arrangement, and a:good deal of inconvejueiico and 'iritation ia rhe result, but it is little use any party becoming fidgety. That Is really the crux of tho whole humtion, and when all things aro considered it 2s remarkable that cLo i*iles have been continued for a month wiihi.6ii.ililtie- annoyance. ; Of course, impoiters'have not been able to offer all the wools they would have liked, for the simple fact that the wools havp not been available. Wo hope that nothing will be lost by what is carried forward. All the same, -it would perhaps give more satisfaction to "feel that wools had been, sold and good prices icalisedj but we sea nothing but exercising patience and endeavouring to do the best under the circumstances.

Big Prices for Good Combing Wools,

One of the most remarkable features of the series has been the excellent figures paid for well-grown, shafty combing wools. Towards the end of last week it was frequently . remarked that even these wero net realising the extreme figures of tho first week, but that is a verdict. w« can hardly accept. Tako last' Saturday as an- example of how the sales are go-" ins. Dungalear is a well-known New South Wales clip that shows excellent characteristics, being held in good, repute.; It is of good 6iV quality, good length, and fairly clean, arid Messrs. i)u Croi. Doxat and Co.-had-the delightful experience of making Is. 8d;, Is. 7id., and Is. Old. for several'lots of grease combing. A Victorian clip marked ICiUanobk sold from Is.. 7d. to ,1s sd. The Quorn clip from Tasmania made Is.- ad. to Is. 55d.,. Gluny. sold from Is. 7Jd. to -Is. 5d., prices which all indicate *, very healthy market for really shafty Wools. In fact, we cannot see this class of staple losing any ground whatever, and the demand to-day for shafty combing'merinos is'as pronounced as during., the firat week. The most remarkable , thing-is to know where these wools are .going, and.it is a fact that spinners are in tho market, and especially topmakers who havo their own combing plant. Probably the knowledge that the next Australian clip will be fine and mushy, with good long combing wools absent, may have -something 1 to' do in calling forth, the present competition for wools tlhat show, a well-grown,staple, but whatever the •• cause,- wo. find that these wools are still selling in a wonderful way, and everything indicates that: a shafty staple is ' going to remain at a premium ior some time to come.

South Australian wools are to-day in very good demand because of the general shaitineas of .their nature, and one cannot but regTet that'more have'not been available. Medium and faulty descriptions are not moving so well as the better classes, and whereas the best oombing. is still about 10 per cent, above last sales, the 'heavier and more': wasty '-parcels are if anything, about 5 per cent, lower. But even this decline is not preventing importers- meeting the market because tbey know 'full'•well what is likely to come forward in this class of staple. The fact is, the. whole market to-day is wonderful where buyers are wanting" something tliat will cause as little trouble as passible, either in sorting, or combing, but particularly the latter. Some firms in Bradford have their sorters only working half time, because of their inability- to get blenda through- the combs. We oould name firms who lave sufficient matchings sorted to take them fully four months to get combed, and this is one reason why the medium classes have somewhat lost ground during tho past fortnight. .Russia continues to be a good: buyer of clcan scoured merinos, and again this week from 2s. ,6d.-to 2s. 9d. has'b?en paid on_ Continental account. That seems to bo the only market, that is keen to acquire good, cUan scoured wool, and it •is some satisfaction to know that they are m the'field and prepared to give excellent support. We do not think the demand, was ever better for this class of staple, in peace times, and even the more faulty, burry, parcels are selling quite as well as anyone could expect, considering .what has to be done at the wools betore they .are ready for use. Good pieces and hollies are making good prices, but they would still make moro money if carbonising machinery on a ai&er scale were available. Free scoured heir Zealand locks and pieces are making extreme prices, tho former nearly always touching moro than'2s. per lb all because the wools are free from shir and burr.

Thsre continues to bo offered fairly good quantities of crossbreds, the wools coming from New Zealand as well as Australia. The latter bom? ycrv biirrv feel tho full effects of tho lSed Si and tho lower limits -with which buyers are working, and tliero is still'"the 2d. decline which was apparent last week for tho medium and lowcn qualities of wools, particularly when they are of a wastier nature The weakness tbat has developed in ISew Zealand "crossbreds is to 1)0 TcgTettcd, but it 6eems inevitable. PJi.6 trade m tops m Bradford has slackened off very materially, and ;/ith it be- ( ,^oolaanot-sos*

S m 5 " ?? B°t to the combs for some considerable time, buyers have all lowered their limits. It is certain that • wools [ nhich are selling ttwlay at'"ls. 4'd 1 would easily liavo made Is. 6d .the first. S f 'f wast y ekirty crossbreds at Is. _ 2d. have felt the' full ef- ? a ' which they'werebouud to. lie strongest caU is for good halfbreds, and these are still making Js. «d. 65d according to tho.length'.an'di condition of the wools. The marlet hers is wonderfully healthy, and these wools have not fallen more than Jd. .to Id. i p an<l are still quoted' LL Cen - t ' "W of last- .. Th S? '•?.*>' that a rbiff S IS .still doing m good 50's, both' ' I i ll- tops, consumption showi' of thl?? 0 "„ m 7 thi . B quality. ' If somnj Swi i r ,^ e ® In , n <l clips were' betterclassed and skirted, it would be-a real i ad\antage. to the parcels,."-but' .seeming.' to 1)0 cart 1 ' less on this head.and suffer accordingly. bliped crossbreds have, also lost ground and are now generally about lid. below' .weeks prices; while the more nasty parcels are often 2d.- worse.--All good lambs are selling freely enough, but it has-to be something extra special' tl 1? B nh .more • tham: ?' 6 1#r Be-' Canterbury' freezing works are not turning out their rP K tins season liko last, the wools' dftion u?otly -worse in colour and ;coV

-Some fairly .big quantities of New-Zea-land, scoured crossbreds haVe been offcr- ?}■ aw these certainly aTO i n -many cases it« p ,®Wow..first week prices. Evidently Switch - tweed manufacturers liava lowered their limits, and-there is not tho same-tan.. dwnand- for' these' wools- frohv the West .of - England. l Some-of the'biggest manufacturers; in Yorkshire, are.- very busy and purchasing good quantities of the lower classes, but when all is said and done these wools are certainly cheaper, m sympathy with! greasy parcols.

Lull Continues in Bradford,

Little new business is passim;. Prices are certainly easier for botli merinos and crossbreds, and it is rather difficult to say the actual Belling, price of-Gi's. We hear of- as; low as"3s; 6d:; having been. taken for. spot, and there: is no doubt that considerably less >mo.ney,;lias -been, taken for forward delivery around next.. December., liie worst feature is that combina'ma-' cUmery seems, likeiy to be brought" to a' standstill owing ;to a strike- among iho employees. So long as the'-output remains what it is, and. every thing is moving to-', warns the actual ,' consumer, nothing! materially wrong, can be. expected,' but' when such a contingency as this arises*! particularly in the face of declining, wool 1 values, the whole situation beoomes critic i cal. Crossbreds, too, are slow, and only in fine qualities can it be said, that thers: is anything like a' maintenance, of recent 1 values. The demand for these is still j keeping fairly. ■ good, and topmakers - can I make within Id.-per lb. of any quality, from 50 s to SB's. Coming down the scala! trere is a distinct reduction'in the. price which topmakers are willing to accept;! and as low as 2Jd.' has been accepted .for ■10 9 prepared. Higher quotations are still about in the market, but cannot bo made. The . financial position '.is now*" causing* serious concern,;-many topmakers having, been brought into a critical position in-' consequence of having sold forward at last December prices without having adequately covered. This; along with' (ho pending strike already referred to, bo*, tokens the necessity for great caution*