LONDON WOOL SALES

Dominion, Volume 12, Issue 249, 15 July 1919, Page 8

LONDON WOOL SALES

LARGE WEIGHT OF CARBONISING MERINOS OFFERED BETTER COMPETITION FOR CROSSBREDS, (From Our Special Correspondent.) London, May 22. The sales aro making good progress, ond everything indicates that next Friday will witness a very firm finish. The week under review has seen submitted some exceedingly shafty Adelaide wools, and these have called "forth extraordinary competition; in fact, the whole trade seems prepared to, take almost any quantity of combing merinos and crossbreds. It is really amazing whore all the shift is going to, and how easily capital is being found to liquidate stocks. There is a strong line of demarkation between The best combing wools and the worst, and it goes without saying that the offerings this series iiavo not been a patch, generally speaking, on those catalogued last 6eries. This is directly due to tlio Departmejit having taken out of the sales both merino and crossbred wools, with a view to combing them on their own account to satisfy the demands of topmakers and spinners. All the same, the wools aro being absorbed very readily, and taking everything into consideration, are. going exceedingly well. The home trade representatives are putting their backs into the work of buying in a way that is really remarkable. The number of bales catalogued' daily is not up to what was expected, averaging between 8000 and 9000 bales. As a matter of fact they ought to have beon the top side of 10,000 bales, but apparently the various warehouse keepers have all their work on to stage a good 8000 bales, and it is high time the Australian practice of cataloguing, say, 25 per cent, of a lot of ten bales or over, was adopted. This would save a lot of time and floor space, but apparently London wareliousekeepers and brokers are slow to adopt what the writer regards as the better method in voguo in Australia. i Greasy Merinos. Almost every, day lias seen catalogued some very good merino grease combing wools from Victoria, New South Wales, Queensland, and South Australia, but particularly from tho first-named State. Five shillings per lb. Ims not beon paid as was the case during the early days of tho series, but when grease combing merinos are soiling at 50d. to 58d., littlo fault can bo found with the market. There is a wealth of quality, character, and condition in these superior merinos, which make them stand out like a mountain peak, and it is really delightful la soo how well-known spinners purchase these wools. 1 They are going to cost in the top all round 9s. Gd. per lb., and we should say that the yarn will command 13s. 'to lis. at the least, possibly more. It is really remarkable the doniand there is for these superior wools, all indicative of a strong public preference for highclass goods. An outstanding feature of the trade to-day is that tho general public want fabrics of a. fine quality. Tho rank and file are earning such wages that they can afford to purchaso those, tho demand for fine crossbreds and merinos being stronger than ever before. Marked Absence of Medium Merinos. . One of the outstanding features-of the series lias beon the absenco of good medium shai'ty merinos. Last Monday somo good, useful lines of South Australian wools were catalogued, some of which would civo up to 00 per cent, clean yield. These made extraordinary prices, selling up to 57d., in fact, quite a quantity sold anywhero from 52d. to SGJd. These are going to cost in the top all round 9s. per lb.! Tho majority of Bradford firms aro wanting to buy at about 7s. Gd., but spinners are prepared to pay almost any price, providing they can obtain the wools. One wonders what these wools have been appraised at in South Australia, but unless tho writer is greatly mistaken they will liave been appraised at anywhere from 24d. to 26d. Somo of the West Victorian merinos that sold ten days ago at 5Sd. to GOd. were appraised at 29d. to 30d., therefore the British and colonial Governments will reap some handsome profits as tho resfilt of to-day's high prices. A good proportion of tho offerings aro faulty merinos on the short side, chiefly 64's to 70's, very burry and' seedy, but will make fine tops of average length, suitablo mostly for thick spinning. _ If considerable weights of shafty merinos wero available, wo should not soo such big big prices paid for warp wools, but so long as tho Department is appropriating these, good average merinos for themselves, combing the wools in 'Bradford to meet their own obligations, tliere is bound to be this disparity in prices botween short merinos and those showing good length and high-class character. Carbonising Merinos. The catalogues are loaded with faulty merinos, all'of which must bo carbonised. These aro selling somewhat indifferently, and those who will wait their opportunity can obtain somo very reasonable wools. Any amount of short, faulty, carbonising pieces, bellies, and locks are available, wools largely bought in prewar times by tho Continent. An outlet for these' will have to be found, otherwise values will ccrtainly sag further. Already tlicy tiro *is cheap as noils. When Gi's noils sell at 4Sd. to 50d. it sounds to' sense that users will purcliase carbonised merinos of better staple. It is plain that the trade is going to bo inundate/l with this class of staple, and it heboves the Department to grant facilities for export, otherwise, it will bo impossiblo to lift it all. Crossbreds Dearer. There is no disguising the fact that good fine crossbreds are 5 per cent, abovo the opening rates, extraordinary prices being paid both oil Home and export account, chiefly Belgium. Tho Home trado is keen to 'buy, and the call for even medium crossbreds is keener than at any previous time this series or in April. More attention is certain to be paid to medium and coarse crossbreds, mid Bradford topmakers are purchasing them more freely. There is nothing to prevent these going into consumption, particularly in view of tho extraordinarily high prices which are being demanded for, 50's upwards. The show o? New Zealandwools is hardly so good as last serie*. and when any West Victorian crossbreds are catalogued tho prices realised are extraordinary, A big weight of burry New South* Wales crossbreds is being offered." Tlieso are selling freely enough, but are not making as high prices as wools free of burr and of good style. South African Wools. Tliere is distinct weakness in short six months grease, and faulty snow whites. The decline is anywhere from 7} to 1C per cent., but when we come to super snow whites, particularly grease combing wools, tho demand is of the best. Tho I course of the auctions this week goes to I show that wools of sound combing length ! and of good character aro fetching extraordinary prices. Top Prices Advancing. Tho tone of the local market is exceedingly firm. Topmakers aro unable to cope with the Oemands which aro be-' ; ing made upon t'liem for delivery, this i applying to both spot and future busi- ; ness. In tho latter, quotations aro exj ceedingly high, because it is realised that j considerable risk is attached to making | any promises. Tho pressuro upon combing machinery is heavy, tho output being I curtailed by the shortened working week. | Capes have been quoted as high as 7s. I Gd. per _ lb., and even llioso who quote that prico aro not eager to soil. Vino I crossbreds aro still wanted, quoin lions for I these following closely in t.lie wako of botanies, being around 75d. for Topmakers aro expressing dissatisfaction with the action of the Department m offering wool to spinners as well as to spinnercombers. No doubt this step is being taken with a view to relieving tho present situation, as it is possible some spindles may have to stand for want of material. Merchants as well as topmakers regard tho matter ivit.li disfavour. Thoy think they linvo had tho ground cut from under their feet quito enough. Many botany yarn spinners wo row refusing to nanio prices for their productions. They have sold as much yarn as they can mako during tho next tsvolvo months, and there is a feeling that sheer force of circumstances will compel attention to bq paid to the lower qualities.