LONDON WOOL SALES

Dominion, Volume 10, Issue 3102, 5 June 1917, Page 8

LONDON WOOL SALES

PRICES WELL MAINTAINED . ; AT THE TOP (ITwm Our. Special Correspondent.) ,_, , London, March 2J. itiovo Jias again been an aotive week j ill Coloman Street, irith values fully maintained on the Improved level observable towards .the, end of last week, and it'makes, oao wonder whoro values would-havo gone if thero hud been ah entirely freo market. There are thoee .who strongly contond that if there had no Government control, values nvouldfliofc havo rooched the high lcTel 'eeen, upon that question them is α-oom ,-for two opinions. . At tho moment ,there seems to be sufficient Taw material on hand to satisfy real legitimate needs, and ono or two firms aro apparently suspected of a littlo speculative buying. Perhaps that expression is too strong to •use in this-connection, .and a better ono ■would bo_ that these firms, are operating with-a view" of .having something to sell in. the ooming months when no free wool ■will be available in London or any other centre. These are not timee to speculate, Rnd certainly current values put that idea out of court ontiroly. Still if ono goes back to that memorable meeting held in London some months ago, when tho principal of a leading Hud:dorsfiold buying broking firm mado the statement that no man in hie senses durst speculate with values where they then, etood, and thinks that 6d. per lb. is an average advance for good merinos it makes one feel that etill great faith obtains in tho future of the raw material. .London this series has certainly produced some big valnes, in fhet, prices which seemed almost in the> clouds have been paid this series for good merinos, and there certainly is nothing to in-dicate-'that the top has been reached. Everybody is expecting a etill Ungher level' when America is perniit- , ted/to operate, and we 6hal) have more to say upon this point in our next communication, when the two sales allotted to America have been held. It makes

;• ono regret thet the selection of hijjhclass clips from West Victoria is not going to be Very largely represented, nu<t if such clips as lit. Bute, Aft. Emu, and Ercildouno had been put at the disposal of American buyers, we should easily liavo seon the lop side of in. realised for the but of, tho wools. However, it is no tirno to speculate as lo what values will bo paid, for wo will give a list in. our, nest communication. Some Good Merino Offerings. Tho week has been productive of a very nico selection. Of course, London sales from December to tho following iilay always see some excellent inorinoe oatalogued, and the present is no exception, to the rule. Some Biirprieo has been expressed at tho quantity of Ireo wool which line been available, but the importers and merchants are naturally well disjiosed fco sell their holdings and re.diso the e.tcollcnt prices which are now ruling. The strangest thing would be if they failed to do so. Of course, tho best show always takes place on Cxoveriiment days, these- wools being all offered on growers' account. Wo : only hope that many , owners when they . «ot their sales returns Rnd compare tho Uoreriiment prices with what has been i actually realised will not feel'a little ; disappointed, but we fear that will be inevitable. . One of tho Government valuers said to tho wVitfr on'fy this week that a certain West Victorian clip showing high class characteristics would be returned at about 2s. 3Jd. for his top line, whereas it realised its. 6d., and what the grower will receive for that wool,_ which mado 3s. 9d. for greasy combing, tho reider can well nigh imag-' mo. However, \these are days when everyone has to make sacrifices, and so tar Australian pastoralists have not beenonewhit behind the restoftho bast i-nghshinen who v breathe the free air of mt Bntai n or tke'Empiw to-day, .there have been some good useful topmaking clips catalogued, chiefly from Aew South Wales apd Queensland, although this series there is a Tery good show of West Australian wools. Theso have all come in for considerable support at the hands of Bradford topniakera, and values everywhere from 2s. id. to 2s. 9d. have been paid. As previously indicated, 3s. 3d. to Ss. 9d. has been paid for tho superior clips from West Victoria, but for the rank and file clips which so largely to make up the wools from the Commonwealth, pricts generally, as before stated, have T>een theorder of the day, anything above that price being on the superior side. There am been, a very nice show of free scoured wodlb, and a new' record was made when sa. was realised last Friday for Mimosa wools, from Geelong, and Waihopai, from New Zealand 65., Qibb from Port Phillip realised is. lid., Woollahra in. IOJd., and Sandown 4s. 7Jd. The lastnamed made prices' for the super combing which have never been realised before, and the writer is telling no secret when for these wools 2s. 9d. Iras bid last February, against 3a. 10d. made last Friday, tho wools in January being quite as good and as free of burr. It only shows what can be done irhen one buyer pushes another, and competition was certainly good all through. It con safely be eaid to-day that for ecoureds the advance is, fully 2d. per lb. in most eases, the improvement being most noticeablo in medium classes. • Faulty wools also are selling readily enough and making rather better rates than last series. Crossbreds a Thing of the Past. It affords tho writer no pleasure to say that so far as crossbreds are concerned they are entirely out of tho catalogued. No New , Zealand new-clip wools are be-ing-'offered, Government buyers eiroply going round vahiing the wools when staged, but eo for as free wool is concerned, they, are being offered \ privately, or rather tho irools are being sent on to Bradford topmakers to be sorted and combed for military purposes with all possible speed. Last week the Government issuod an order commandeering all supplies of. greasy crossbreds, "including import wools, as well as those owned by private people, and it is a factHhat nothing can now bo Bold between one party and another unless that wool is rcfysed by the Government, when a, special license for its sale is issued. Some voTy good crossbred skin wools have been catalogued, all to be appropriated by the Government. We have seen some of their values, and for 6uper come-back lambs 3s. 6d. has been allocated, wTiile

super come-back wethers , bavo been valued at is. Super erossbrede of uico 18's lo 50's quality havo aleo boon valued at ,%. 2d., a still better lot of fine crossbred hoggets being valued at 3s. Bd. This all indicates flint very good values aro beinjr offered to owners of crossbred wools, and wo aro certain that no one can. find fault with tho prices at which the Government is taking ovor mipplicH. There is no doubt that all crossbreds are being nrgenlly wanted for military purposes, and tlio owners aro apparently well satisfied with what is bolng offered them. Tho trade has not been privileged to boo many hlipes this liorics, a few having beeu included in tho catalogues, but not offered, that fact alone constituting ti. record in t}io, history of the trade. Even star lots aro being appropriated, and it shows whore things now stand when even little lots go into tho meltinj-pol, and are lost sight of so far us actual size- is concerned. Further Drastic Government Action Foreshadowed. There is a good deal of agitation in tho trade as to tho position of tho Government and its attitudo towards merino wools. Thero have been, and still arc, moro than whispers regarding tho likelihood of the War Office commandeering all merinos, and the practical withdrawal of all wool from public eoic. This is entirely duo to tho allegations of short stocks and an insufficient supply. It is really tho outcome of tho shipping difficulty and tho desire oil the part of tho AVarsOffico to create consid-. erable reserves. This must bo done, and active stops aro being taken to prepare for all eventualities. Whilo am--, vals this last two months have been considerable, there are thoso who entertain, the view that before long supplies will get a good deal less, but what wool is nfloat is only known to the authorities. The greatest seorecj- is being adopted in regard to ;nany important points, but if Dalget/s Melbourne figures, as cabled last week, are anything to go by, the shortage in the shipments for the first eight months of tho ourrent Australasian wool year of over half a million bules is a matter of gTave concern. However, we are fairly optimistic regarding arrivals, believing that thero is sufficient wool in sight to satisfy all requirements. It is just possible that the Government may commandeer all privately-owned stocks of merinos. If they do, and compel owners to sell at the standard values filed for their own tops, then those owning wool to-day will stand to lose considerably, but we do not believe that anything of that nature will jet obtain.