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LONDON WOOL SALES

FRENCH COMPETITION

THE CHIEF SUPPORT OF PRICES

(From Our Special Correspondent.) • Q London, July 31, 1911). The wool position as revciiicd m Coleman Street continues to exhibit many sound features, and there is no diminution in interest whatever. The siucs continue to be moderately wcil uttendeu, the chief buyers being I'mnce and UeLgiuni, the luriuer country lending the van. It is now acknowledged that i'ranea is making tiio pace tor the wliole hade. But lor her eompotition prices would suiter. ' One competent buyer remarked to the writer a day or two ago that there was as much us a good shilling per Hi. difference between the cost oi merino ivool to-day in -the top compared with uio. first week of the series, all due to the increased competition oi irancc. This is certainly unexpected, but can bo taken as evidence that the French trade needs wool and is buying keenly. One wonders how miidi of her present purchases are finding their way .into Alsace and Lorlaiue. where some important textile factories have begun to run. Judging from reports, and thero is.distinct evidence in Bradford. German mills on the left hank of the Rhine are keen buyers of r.ll descriptions of raw material, recent purchases of oven dcmi-lushe yarns spun fioin' 40-il's lops, together with .mohair yarns showing .clearly enough the attitude of 'fivnis in that locality. How--1 ever, France is buying, keenly enough, and availing herself of the increased quantity which has been allocated' to her by the British Government. "We take it nobody will object to her purchasing the top side of 30,000 bales, and together with Belgian operatives, the auctions uro still going with a swing. Bradford buyers havo stated this week that they would to-day be obtaining both merino and cvossbreds on a more reasonable basis than at any time during the present series hut for tho competition of our Allies, and as the outlook in tho homo tra'do at the moment is far from being brilliant, France is beiug allowed to take practically' 75 per cent, of the offerings. Pricos Steady. Prices show little change on the week. The auctions are diawiug to a close with most descriptions at the highest point of "the series, and it is only in the shabbier parcels where any real fluctuation . occurs. Very big figures continue lo rule for good merinos, and not be said to be c'ilelfp in the 'least, due still sees every day the top side of oOd. being freely paid for good combing, merinos, and even burry merinos selling between 00d. and 50d. shows that wool is still costing big. figures. . It is a fact that what we used to buy at 12(1. to lad. in pre-war days'is making to-day over 40d., and even shabby, burry wools ruling between 9tl. and 12(1., aro to-day selling anywhere from 30d. to 38d. Tho home trade would ■undoubtedly be operating move keenly if they saw tho least chance of getting wool through the combs in a .reasonable time, but one is now reckoning upon a mouth between buying. in Cole-man Street and gotting wool to Bradford. It is a fact that 100 bales of Cape, wool landed in London in May only arrived in Bradford this week notwithstanding the bills of lading were handed in and dispatch urged within two days of the boat landing in Crossbreds too are selling very firmly,- and commanding excellent competition. France is buying on a fairly liberal scale, and is certainly taking a bigger weight of crossbreds than one .expected to see. Her attention is chiefly confined to wools from 48's upwards, but all the same anything of a decent character both grease and. scoured is selling freely enough and commanding . prices that cannot but make the.mouths of all New Zealand pastor-, alists water. Very good figures indeed are being realised for Scoured crossbreds, and anything fine aiid ,tlean is fetching the top side of ss; per lb. "We cannot find a great deal doing on.Canadian account, but all the same America would soon be a keen buyer if she were allowed to compete.. Franco remains the keenest and largest'operator, the Home trade coining next.' Sale by Description, Last' Saturday .6700 bales- of .New South Wales and 5055 bales of New Zealand'. greasy crossbreds -were submitted for auction "by-description." The catalogues gave the colonial, description, the quality, and whether the wool was free or faulty. Then followed the number of bales and the appraisement yield in Australia and New Zealand. Having given these details buyers were able to form some reliable idea as to the character of the wools, and good competition ensiled. Most of the ..marks fell to the bids of Bradford, although French buyers bought liberally. It was on tho very fine 70's to 80's wools where Continental competition was missed, these ruling 3d. toi -Id. per lb. below prices paid during the week for wools which can be seen and valued, while .shafty GO's to 70's wools, both fleece and pieces realised prices on a full parity with tho .open market. The New Zealand crossbreds proved a disappointing sale,,about 75 per cent, being withdrawn. The test competition was seen for 4G's and aipwards which sold at Government limits, but for lower grades, in the absence of Continental support, withdrawals were numerous. The best Sydney merinos, 80's and upwards realised around 49d.; 74-80's, 43d.; 70's-74's, 4G.U1.; 70's, 33d.: 64-70*3, 50d.; OIV the latter figure being also paid for 60fit's. New Zealand 50-56 V made ,16(1.; • 50*s, 32.', d.; 48's (carded), 20d.; 48's (prepared), 2Gld.; 4G-48's (hoggs), 35d.; 44-46's (prepared), 35Jd.; 40-44's (prepared),-23d.; and 44's (prepared), 241 d. per lb.

English Wool for America. It is not generally known that a few firms have been buying Britisii new clip wools tor shipment" to the -United States, , and although tins cannot be done except by lieensi!,. it is hoped they will "uo loL't!icouu:i;,' at no distant date. It appeal's tiiat the bulk ot the wools have been bought througli a London seUng broker to whom big weights of English and- Irish wools have been consigned tor bale. This firm—John Roare and Co.— are acting on behalf of the Agricultural fjrganisatioii Society, to whom ar« affiliated a good many farmers' unions throughout Great Britain. The significant taci. is'tiut members of the British Wool Federation have purchased la'.gely on the same draft as obtains in the sale of colonial wools, namely, lib. per cwt. The British Wool Federation circulated their members that no wool had to bu bought in London unless the country drait of 2lb. per cwt. was allowed, 'fhero must be a screw loose somewhere when this instruction is ignored by leading members of the i'edciatioii, who are reputed to have given, their assent to buy. mg only on the draft ruling at country fairs. However, the fact nevertheless remains that considerable quantities of good halfbreds, Downs, Irish and Kents have already been purchased for sale to the United States, and it has been officially announced that the War Trade Department is p'.cpared to consider application for licenses for the shipment of wool i-.cross the Atlantic. Big. weights of Down wools are in farmer? 1 hands, nil of which they refuse to sell at the different fairs on account of the draft difficulty. Whether they can afford to refuse to-day's goad values rcmsiin? to bo seen, but home trade buyers are still reluctant to tafce wools without the usual drafts. • Good. Shropshire's are selling anywhero from 3s. lOd. to -ts. according to style, finality and yield. Coal Striko Effects, Two chief topics in the textile world, to-day, are the unfortunate coal strike in Yorkshire, and the defiant attitude of Bradford.wool combing operatives. Already many thousands of hands are out of employment, the principal wool combing sheds and spinning mills being closed in Bradford to-day.' Many mills Imvo no storage capacity whatever for coal, and it h»s been impossible to get any into stock for a long -time. Colonel Wiley addressed a meeting of the'eomb.ing operatives last Sunday, when' 3900 people were present. He had difficulty in speaking on account of the 'uproar, men in the audience frequently shouting "Shut up." The men are opposed to accepting a further advance of IV. per man per week and -Is. for women, while they ore determined that women shall not be employed on the night turn. They are demanding 10s. per week all round advance, and one wonders if they will be satisfied if they get it. Bo tliat

lis it may, Bradford spinners and export houses are confronted with rt gradually diminishing output, of tops. Those engaged in the export trade are feeling their position acutely. It is true tho Department is carrying fair weights of course crossbreds which could all be freely exported to the Continent if licenses were forthcoming, but the supreme concern of Bradford spinners is an adequate supply of line crossbreds and merinos. As Ugh as :)s. sd. was paid last week for warp 70'=, and even tho top side of 9s. was realised for October delivery.

Permanent link to this item
Hononga pūmau ki tēnei tūemi

https://paperspast.natlib.govt.nz/newspapers/DOM19190926.2.105

Bibliographic details
Ngā taipitopito pukapuka

Dominion, Volume 13, Issue 1, 26 September 1919, Page 10

Word count
Tapeke kupu
1,509

LONDON WOOL SALES Dominion, Volume 13, Issue 1, 26 September 1919, Page 10

LONDON WOOL SALES Dominion, Volume 13, Issue 1, 26 September 1919, Page 10

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