LONDON WOOL SALES

Dominion, Volume 10, Issue 2925, 10 November 1916, Page 8

LONDON WOOL SALES

NEW CLIP WOOLS SOME BIG ADVANCES (Fropi Our Special Correspondent). London, Septembev 11, loig Things are 'going nicely in Coleman btreet, and apart from the sale of medium and inferior wools, both grease and scoured, prices aro well maintained. It is really remarkable the demand there is for anything showing at all well-grown characteristics, and tho week under review lias shown what buyers aro prepared to do when anything decent is before them. Records have again been put np in tho salo of West Australian wools 2s. 3ld. being paid this wcok for wools that were estimated to give ta clean yield of 5+ per cent. This certainly is a 'wonderful Price, and it clesarly shows what the trade is prepared to pay when anything siiits thoirn. Such figures as have been witnessed emphasise onco more the position of West Australia as a. woolgrowing State/ and there is no part of the Commonwealth that has niado such progress in sheep and wool cultivation during the past ten years. Of course, the well-known stud breeders of South Australia and tho Riverinn. aro largely responsible for this, and there is being grown a very different staple from what, one saw ten to fifteen years ago. Even the fiery wools of the northern areas, although they still show the same outward appearance, are nevertheless showing a broader staple, or as one broad-spoken Yorkshireman put it the other day, the wools have more "guts" about them than formerly. The writer heartily appreciated this, and certainly it is as it should be. After aJI the trade to-day is seeking well-grown combing wools, and when the war finishes they will follow the same line of operation. As long as the world lasts Australia, will produce amplo supplies of clothing wools, that is shortstapled material more or less faulty whioh will liavc to be carboniswl before

being ready for use. The trade naturally values this material, but attaches far greater importance to wools showing a good combing length, and it is this class of staple which to-day is being most appreciated. Let us look carefully at. these wools. Queensland New Clip. - The series has provided so far a nice offering of Queensland new clips, the wools being shorn last March. They are very welcome, and buit for them the offerings of merinos would have been distinctly poor'. So far there has been a much better offering of grease than scoured, and this may have had something to do with the quieter attitude displayed by Russia. It is a littlo too early to say very much about the character of tho Queensland new clip wools, but what we have seen are fairly dry and show a nice grown staple, though a few of the clips have been very seedy. Ono of the clips from out West that was offered towards t;he end of last week in the scoured state was disappointing, and the work might have been better done. Tho APCo wools are very well known, and they represent somo fairly big lines. Grown mostly in Maranoa, the wools are naturally littlo red and earthy, but always snow good Gi's to 70's quality, • and aro well suited to Bradford's requirements. In Messrs. Henry P, Hughes and Sons' No. 1 sale, tho Doondi clip caime up for the first time this season, and naturally the wools caused a good deal of talk and gave rise to still greater comment when they were sold. They showed a nice quality and a good length of staple, were sound, and in good average condition. There was quite a quibble over what the first lot would give, the writer putting \it down at 52 per cent., owing to the wool being so dry. Several said it would not give a greater yield than 51 per cent, and somo were on tho conservative side at 50. Still tho writer is more convinced

han ever that tho olean yield'would •be

52 per cent, for the first lot. The most remarkable' thing is that 'he first four lots of A combing made all one price, there being 202 bales, which ,made tho handsome figure of 2s. Id. per lb. We give below tho prices for this clip when offered at the corresponding series a year ago, when it was new clip:— APCo/Doondi/N. Price. Price. Sept. 17, Sopt. 7, 1915. 1916. De3t.rin.tion. s. d. s. d. Greasy A combing 14 2 1} Greasy B combing 1 l-i 2 1} Greasy C combing 0 11} 1 8 Greasy, broken 1 o.| 17 . Greasy, bellies 0 10J 1 4 The sale of faulty' merinos is a little disappointing. It is no use disguising tho fact that these have lost ground compared with last series, and the reason is not altogether plain to be seen. There is now moro carbonising machinery available, and one naturally thought N that these wools would maintain their growth, but apparently merchants who buy them witli a view to carbonising and then reselling are determined to have thorn at less money. Of course, there aro quite a number of outside manufacturers who have their own carbonising plants and who buy big quantities throughout the year." They say that good clean pieces and locks that can be used without having to be carbonised do not show much change, but there is no doubt as to tho faulty parcels being np to 2d. cheaper, that is if owners sell. A littlo American competition would now be very beneficial, and several Boston firms would be liberal buyers if they saw the least chanco of being able to export. However, the wools arc being readily absorbed, notwithstanding an irregular market, but there is certainly a disposition to take things leisurely, and not force buying. Crassbreds Selling at the Highest Point. The offering of crossbreds is indeed remarkable, and tho competition for the wools is equally so. There is no call-

ing oft' in tho demand, and prices aro fully" maintained at the highest point. Tho fact has •to be faced that colonial crossbreds aro still the cheapest compared with the present price of English wools, for the English clip has not been -acquired by users at any lower value than

it would liavo I>een if tho wool had been purchased in. the open market in the ordinary way. The very fact of it being more or less difficult to obtain supplies of English has no doubt something 'to do with causing some of the keen demand for colonial crossbreds. and satisfactory values are certainly being bid which surprises importers. During the interval- one or two London firms who liavo tho resale of American crossljreds now seo they made a mistake in celling privately, because they have not ibeen able to get out whole; Fine crossbreds have certainly appreciated since the opening, "'and are mostly a penny higher. These wools are being bought by those who feci that the future is in their favour, and while wo hardly think that the extreme prices of last January and February aro beinjj bid, still up to Is. lOd. has been paid for New Zealand fine crossbreds, while 2s. to 2s. W. has been realised for Victorian come-back wools in the grease. There certainly can bo no fault found with such values, and when 58V tops aVo selling in Bradford at 3s. 9d., and prospects point to them being still higher, users are doing right to purchase tho wools.

The most surprising thing of the whole series is the way that medium crossibreds aro selling, and theso aro mostly Id. above last series. The fact of theso wools now being dearer is indeed marvellous, because they have been selling in a most indifferent way in the top, a.nd ihero is as yet no active market for the Ivool when combed. Here again it is the prospect of short supplies, and tho knowledge that the wools will bo wanted, which is prompting tho present activity, and is tho prime factor in inducing men to pay more money. When wo como to coarse crossbrcds these are a scarce commodity, and aro easily saloable at Id. to lSd. above last sories, mostly the latter. 'There is by no means largo supply, in fact llG's-lfl's wools aro scarce, Bradford topmakers all alike wanting them badly. For some of tho .withdrawn parcels out of July sales as much as 2d. moro is now being paid.

Scoured erossbrcds are also maKliig all round Id. more, and slipes, particularly coarse qualities, aro selling better than they were, tlio well-known Gear brand from Wellington often making Id. more than last series. This, wo say, is a remarkable accomplishment, and the fact of slipes having rather stuck during the past interval makes it all tlio moro incomprehensible'that users and merchants should feel disposed to increase their values. All tlujse facts indicate a 'sound and 'tho call for good wool is undiminished. I