LONDON WOOL SALES

Dominion, Volume 9, Issue 2625, 22 November 1915, Page 8

LONDON WOOL SALES

• EXPORT POSSIBILITIES Jfrom Our Special Correspondent.! London. October 1. The current series of sales are fast drawing to a close, and no one seems sorry. 'When any auctions run to the end of the fourth week, both selling brokers and buyers Jeel that they have had quite enough, for the time being, and many have already packed their bags ready for home. At the same time there is always a good contingent of buyers who sit to the very last lot in tho. hope of being able to pick up something cheap, and no doubt the past fortnight has seen some very -reasonable wools picked up. Tho offerings this week have not teen by metlns o£ the best, in fact, good straight combing wools have grown scarcer almost every day, and not until the arrival of a fair slice of Australian new clip oan anyone expect to see tho offerings improve. The Queensland new clip wools have been very acceptable, and havo provided buyers with something worth looking at. The writer lias remarked on several occasions lately that everything seems to indicate thnt sliafty combing wools are safe, the trade to-day being more keenly in search of lengths of staple than has "ever been known before. The reason for this is very obvious to anyone in closc touph with the topmaking and spinning end of the trade. Before the war broke out even fine short stapled wools sold very well for manipulation by machinery in France. Belgium, and Germany, particularly the two former countries, this maohinery being specially' fitted for manipulating these short-grown wools. Without desoending into technicalities tho majority of the combs in Yorkshire are the Noble machine, French combs, commonly known as the Schlumberger, being ablo to deal more effectively with short-stapled merinos. That being so, both French and Belgian firms have always been ready to purchase these wools, for when combed they are sptfn on tho mule principle, tho yarns being very largely sold in England among 'hosiery manufacturers for the production of under-garments. This has been by far the greatest outlet for this class of staple, and the Noble' comb being to- : tally ' unfit for dealing effectively with these short-stapled merinos means that they are neglected. and will be. It would bo a, great relief to the whole trade if French and Belgian mills were now in the hands of our own population, for that would give immense relief to the wool situation.

Queensland New Clip Wools, In past letters tho writer has-casually mentioned the offering of Queensland new clip, wools wliich have been 1 very acceptable and helped to somewhat atone for the large miscellaneous offerings of medium and shabby- wools. The Queensland new clip has not been perfect by any means, but it has shown the greatest sarins factor of all, namely, length, that being in urgent request at tho hands of, buyers. Up to ITS. .was paid for the Oakwooil clip, the top lots, of which would give either 53 . or. 54 per cent, clean yield. The Milo would give 46 per cent, for the top lot, although some gave it 1 to 2 per cent. less. The Dconcli clip would give 49 to 50 per cent., although some gave Che "first lot as -high as 52 per cent. Experience has proved over and over again that wools grown in a dry time possess an extra amount of dust and earth which results in a shrinkage of often 2 per cent, mere than estimated. The Queensland wools have lacked brightness and attractiveness of staple, but buyers know that when they are clean scoured, they como a good colour. Some of the clips were very seedy, particularly those grown in Maranoa aii<t Warrego, and it would he a real help if this vegetable matter could bo exterminated, though we take it to bo impossible. At succeeding series of sales there should be more new clip wools to hand. Selling brokers have met with-increasing difficulty in getting off medium and faulty wools, in fact where they have to be dealt with by being carbonised before being useable still less prices have had to b'e accepted.

Wide Margin in Cost of Tops, Every reader should know that the basis of wool values is fixed on the price per lb. of the combed top, that js for good combing wools. If a good 64's is worth to-day, say, 35., a buyer must liavo his clean scoured wool to cost no more than 2s. 6d., the remaining Gd. covering the cost from the clean scoured state to tho combed article. This margin is above normal in ordinary times, and we are giving this quotation more or Jess as nominal. But ho one is buying good merinos on a clean scoured basis of 3s. The reader may bo surprised to hear that 64's tops can bo made out of wool bought in Coleman Street to-day from 2s. 7d. to 3s. 2d, it depend-' ing entirely upon what, the top is made from. If a man is prepared to comb, say, very weedy bellies and pieces mixed with a little decent combing, he /can produce an average Gl's top anywhere from 2s. 7d. to 2s. 9d„ and on a basis of 3s. in the top, he can pick up some very decent combing wool indeed. Never in the history of the trade has there been such an irregular market respecting the standin. cost of merino tops, that not being seen in crossbred 9 at all. There is a moro uniform prico in greasy combing crossbred wool tlian in merinos, largely the result of limited supplies. The irregularity in the price of medium and faulty merinos is past human comprehension, and no one can hope for a more regular market until competition broadens and moro machinery gets to work consuming these medium and faulty wools.