LONDON WOOL SALES

Dominion, Volume 12, Issue 281, 23 August 1919, Page 10

LONDON WOOL SALES

GOOD COMBING MERINOS STILL SELLING WELL (From Our Special Correspondent.) London, Juno 20. The sales in Coleman Street aro still being continued under favourable condiand although an easier tendency in prices has been observable in medium wools of all qualities, the general position is healthy and sound. Tho attendance is fairly well maintained, although there is not tho crowded room that one witnessed at the May auctions. The bulk offerings aro being absorbed in a very commendable way; iu fact, it is amazing what buying power the trado really possesses. One could wish that finance ■ were easier and transport better, when I a. still bigger volume of business would Ibo passing. However, these are factors j which are bound to press hard upon all sections of the trade i'or a long time to | come, uud until things becomo more settled and there is a better and more united working spirit manifest throughout tlio country, transport especially will remain a difficult problem, handicapping the wool textile industry on every hand. It has been well said that tho position of transport to-day is morn nhnotio than at any lime during the war. No doubt this is partly due to the very big weights of wool which are having to be handled, and the very fact of over one million bales having come into the country this year, which is easily a record, shows clearly enough that the entire position needs handling _ patiently and diplomatically. Be it said to the credit of the trade that London buyers are handing in cheques for tho wool purchased in many cases within fortyeight hours of lots being knocked down. This is being done wi;h a view to facilitating transport of the wool to its ultimate destination, and yet there is great room for improvement. Big Prices for Merinos. It 'is a fact that hardly the extreme prices of last series or even Liverpool are being seen to-day in Coleman Street for tho best classes of super Geelong greasy merinos. There hardly the show that one saw last series, but several times from old. to 58d. has been paid, such figures indicating high-class spinning wools and also a sound market. Everybody to-day seems to bo looking out for wools of length, and if a hveinch stapled merino is on show it easily commands the unreserved attention of the entire room. Buyers are exercising judgment and anything deficient in staple suffers sensibly in price. 'What we mean is that whereas a really good long combing wool is to-day selling anywhere fr.om 43d. to 50d., shorter wools, but equally as fine, arc not worth witlun Gd. per lb., a difference which' never existed in pre-war times. Of course, one always looked for Id. to 2d. per lb. between a good warp combing wool and ordinary topmaking sorts, but to-day the gap is wider, preference being S lven to warp wools in all qualities. One has a strong impression; judging by tliose who are taking these extra long combing wools that it is the work of spinners, and when ono thinks of the purpose for which these warp wools arc wanted a spinner is the man to pay the difterenco and to buy what ho knows will produce an excellent yarn for his customer. We should say that in ordinary topmaking wools tlie decline-to-day is Id. to *.d. pei lb. compared with last scries, and at that, fall tho demand- is certainly good. Of course, for tho big supply of carbonising wools ' there is considerable irregularity, and anyone prepared to wait his time, andl to work assiduously by valuing daily fairly big weights of wool can obtain some reapon'able lots. But are they cheap m view of what the Government is offering such too!s at in Bradford? However, the way merinos are selling leaves nothing to he desired, and particular,.}' when up to 80a. has been paid for superior scoured merinos from New South' Wales, a regular price for good average wools beiug Gsd. to 70d. , During the week there has been a good show of West Australian greasy fleece. One's mind goes back-to pre-war days when, during the first.three months ot tho year there was always a big shpvr of tfhese. Bradford topuiakers always doing justice to them. It is really surprising the way West Australia, has come dicing as a grower of merinos. ■ Pastoralists could improve on the preparation of their wools for market, but when these fleeces have been we.l sorted, they produce a most desirable and sound spinning top, giving a full handling yarn in mosl case,s. These have 6old_ t his week up to ss. 6d., an excellent price. Scoured merinos continue to command a good deal of attention, and are (-till selling at big figures. The incoming of a French contingent has been a most noteworthy feature, and the Department has done wisely in granting. French buyers tiho privilege to operate on a,liberal scale. They are entitled to purchase 20,000 bales during the forthcoming series, and in 'lie aggregate there should bo 35,000 to 40,000 bale* taken this series for export to our Allies and Canada. Crossbreds. This series a fairly big weight of Now Zealand crossbreds is being offered, a larger quantity than submitted during the two previous series. The selection, 100, leaves nothing-to be desired. One can meet all his requirements in regard ' to quality, and the wools are sound, well grown, and attractive. This series can be called more a topmaker's series than the two previous ones, in regard to crossbreds, and Bradford is buying freely. As one compares Coleman Street.prices with what is quoted for Bradford tops, one can see that they can be made to leave a decent profit. There is still. tlie same keenness to buy good comebacks (88's), and both on Home and export account these wools aro being freol'y absorbed without showing, any change on May prices. In fact, fine crossbreds are Felling ns well-as ever, and there is little to indicate any important change in the market. As a matter of fact, the entire position is one showing a good deal of strength, and France is taking up some nice lines of crossbreds,. which ■ lias lvtther forced the hands of Bradford topmakers. Everybody seems to want 50 s quality and upwards, which is a clear indication of the trend of fashion when we come to anything below that count, it is a fact that the market still exhibits its initial weakness, and the decline is still's to 7i per cent. Yorkshire merchants are free buyers of scoured New Zealand crossbreds, while elipes continue to make big figures. It is really surprising the amount of attention good stipes are' commanding, but this is likely in view of tho fact that many Yorkshire woollen manufacturers used these wools before the war. They like them, and to-day find they serve nn exceedingly good purpose. The way the sales are .going in regard to the disposal of crossbreds indicates a very healthy market. Further Bin Offerings. Particulars are now available o£ what is going to be offered at Liverpool on July 10, and at Hull on July 11. At tflie former centre 14,000 lwiles aro to be catalogued, and at the latter 11,650 bales. How aro men going to bo able to valuo tho wools available at the two centres when the 6ales take place ono day after the other? The arrangement is bad. It is not every firm that has two valuers, and no ono can be in two places at tho same time. There is just ono compensation, and that is that the wooil will be on show at tho two centres from tho 7th, thus enabling a person to go over to IMI on tho Monday and value that day's offerings. It is expected that a special train will be arranged for from Bradford. Then a buyer will be able to run over to .Liverpool on the Tuesday or Wednesday and value for the Thursday's sale at the Mersey port, the wools being offered at the Mechanics' Institute, Bradford, on Friday, July 11. By this airangement it will be possible to get through the oirerings. Cape Wools. Some fairly decent offerings of Cape wools have 'been made so far this series, both free and Government-owned wools. Tho market is sound for long combing 12 months wools, but for scoureds it is "off." There is no doubt that the big weight of medium Australian merinos is telling its tale, and is bound to compete with scoured Capes from now onwards. What is wanted to lift these Cape scoureds is somo Continental competition, and this should be forthcoming when pcace is signed.