LONDON WOOL SALES

Dominion, Volume 9, Issue 2870, 7 September 1916, Page 8

LONDON WOOL SALES

. RECOVERY IN BEST CROSSBREDS. , ' Australian-Hew Zealand Cable Association. , ' i London, September 5. At the wool sales 8229 bales woro catalogued, of which 3121 bales were from New Zealand. There was a largo attendance The wool was a very inferior selection, and competition -was somowliat slack.' Best crossbreds recovered from a halfpenny to a penny from tho July olosing rates. Slipes .' : ~woxe >very firm: merinos and all other ~','.. sorts were unchanged. .:. , There was a decidedly more hopeful feeling in crossbreds, mainly because -.. during- tho last few days' the Government nas commenced to make deliver-' ies of a portion of the English clip, whioh was bought at lower levels than the ourrent rates for colonial wool. . : To everybody's mirpriso thp invoices ehow that the Government is charging about 44. a lb. moi© than the maximum • rates paid to the English farmer. This naturally enhances tho value of all j. colonial wools and is causing a reaction. ' - ' • . In reply to an inquiry by the Colonial Wool Merchants' Association to tho ' ' Board of Trade, the Director of Army Contracts writes that tho Department has at present no intention of buying the colonial wool clip. The position as regards the supply of wool is, however, being carefully watched- and notice will be given to the trade of any action-that-may be decided upon. . STATE CONTROIT OF .WOOL "' , stocks: : ("The Times,") London, September 5. Tiio city editor of "Tho Times" says there is no reason to suppose that the Government contemplates taking over the control of colonial but there will he some control, which will probably affect prices. BRISBANE WOOL SALES. Brisbane, September 6. At the wool sales, competition was keen. Prices for greasy advanced from • ' -5 to 7J per cent., and all bulky wools j were 10 to .15 per cent, lower. Top .-.- price for greasy was 24d!, scoured 40d.

A CONFERENCE

(Hec. September 6, 6.10 p.m.)' London, September 6. 'At the conference between the Wool IVade and tho War Trade Committee it was stated that the Committee was considering tho question of issuing licenses for tho export of finished woollen goods.' The Committeo does not consider it advisable to grant further licenses until tho supply for Britain is, sufficient for all needs and leaves a surplus. Applications for the export of jute wrappers to the colonies will most likely bo granted freely. InforMation was given showing that the exportation ot finished woollen goods to .the-United'■States and the British East; Indies was 50 per cent, below normal; to Italy and Greece. 66 per cent.; Japan,-75 per cent.; China, 77 per cent.; Mexico, 80 per cent. . The export to France was considerably abovo the average; Australia was 33 par cent, above normal; Canada, 10 per cent*; South Africa and Now Zealand, 10 per cent. The Committee will not consider licenses for countries

adjoining countries under German oc cupation. Mombcrs of the trado pointed out that the stock of tops was much below normal, the prosent turn out of merino tops being only 80 per cent, of normal, and crossbreds 60 per cent., and theso woro expected to be less each month, owing; to the numbor of pivot men called up. The supply available for general trade would be further reduced as the number of troops monopolised the English 1 clip under Government control. ' LONDON WOOL SALES. Messrs. Levin and Co. have received cabled advice from their London agents that merino's andi fine drossbrcdis are about steady, medium and coaxee crossbxeds about 5 per cent, dea-rer, and flipo BlghUy dearer.""* Messrs. Abraham and Williams, Ltd., have received the following cablegram from their London agent dated September 5:—"Wool sales closed strong; coarse orossbrod showed an increaso of 7£ per cent., medium crossbred 5 per cent., and fine crossbred 2J per cent. ICeriuos were on a par." Messrs. Murray, Roberts and Co.. Ltd., havo received the following; cablegram from their London agents :—"Sales opened; good, .-attendance: poor selecton offering; no chance in, market except for medium and strong; crossbreds -par to 6 por cent. deaTer." ■ Messrs. D'algety and Company, Ltd., report .having (racoivfii the following cablegram from their Lqndon house 'under date of September 6:—"Tho wool sales havo opened. There was a good attendance of buyers, and competition- was fair. The selection was .an indifferent one. As compared with tho closing rates of last series, mctinos were unchanged; best ooarse crossbreds advanced 5 per cent, to 7$ per cent.: 'other sorts and elip'cs were par to 5 per cent, dearer." The New Zealand Loan_«*nd Mercantile Agency Company. Ltd., have received the following cablegram from their London house under date September 5:—"A good demand, as compared with July 28; merino, fine crossbred; unchanged; gioa-sr, medium coarse. 6 per cent, higher; slipo 6Conred very firm."