AUCTIONS SALES

Dominion, Volume 14, Issue 37, 8 November 1920, Page 6

AUCTIONS SALES

FORTHOOMINC FIXTURES. TO-DAY. W.'lambton Quay, Wellington, 1.30 p.m.Sale of carpets (E. Johnston and Co.). TO-MOKBOW. 'Colombo Boad Yards,'Mastcrton, 11 a.m.— Sale of purebred cuttle (N.Z. Farmers' Distributing Co., Ltd.). Walpulturan, 11.30 a.ni.—Oattle sale. Walpulturau, 12 noon.-Oattle sale (Bawlto's Bay Farmers' 00-op.). I« ifanners Street, Wellington, 2 p.m.— Furniture sale (Wheatley and Co.). hevin Yards—Stock sale. . . WEDNESDAY. Holland Street. Wflltneton. 11 a.m—Sale of merchandise (Williai.itrand Co.. Ltd.}. <4 reathcrston Street, Wellington. 2.30 p.m. —Property sale {Bcthiino and Co.). ftiapau. lZ D»;on.— Property sale (N.Z. Doan and Mercantile).

LONDON WOOL SALES

BETTER TONE IN RAW MATERIAL TBE VALUATION OF CUPS From Our Special Correspondent. London, Septembor 1.

There is always a certain amount of /aacination In connection with any series of colonial wool sales, and whether they go well or otherwise, it is of real practical value to inspect tho raw material catalogued daily, to value it, and then to watch how the varied lots soil later in the day. The work sometimes gets a little monotonous, but buyers becomo so expert that instantly they see the wool and handle.it, they con tell to n nicety what it is worth by determim ing quality, length, soundness of staple, and condition. These are fundamental principles upon which all wools are valued, and it goes without saying that no niattev whero wool is offered for enle, they are the deciding factors in determining the value of the raw mntorial. Of course, buyers look upon wool from a different standpoint from that of a grower, this no doubt accounting for the difference of opinion as to its market vnlue. Every selling broker knows that at times he has to encounter complaint at tho hands of his clients, because the grower thinks that his clip ought to ' havo realised more, especially when he compares his price with that of, his noighbour. There are very few men in'deed whose, properties adjoin oach other who do not think that their clips are quite as good ns those of their neighbours, and it goes without saying that if the' broker realises even a fraction less, the grower thinks that his wool has been badly sold. After attending tho London sales foi thirty vears, the writer has come to tho conclusion that two growers' clips may fce equally Rood, and yet one of them, by being sold on a separate day, may made Id. more or Id.. loss than the other To' all intents and purposes the market .has not altered, the.standard of values is the same, and yet this variation occurs. What is the cause? Many people completely forget that such trivial matters as the presence of an extra buyer or two can easily make up to 3d. per lb. difference, while one to two -per , cent, heavier condition, a matter which . vcrv few growers can appreciate can easily make a difference of. 24. to 3d. per lb These very facts are m evidence today in connection with the currentseries of sales, and are well worth careful consideration. Changes in Clips.

It is a well-known fact to every grower "that the season plays a very important pari in deciding the character of any clip of wool. On whether it be good or bad depends whether the wool will be well grown, and in good condition or .'otherwise, and these fncts are in evidence every day. We have been privileged this series to inspect some exceedingly good wools of warp length and lOs quality from both West Victoria and the New England district of New South South Wales. So far as quality is concerned they are of almost equal merit, and yet the West Victorian wools have made ponce-per lb. more than those from tfew England. Still, the latter is one of Ahe W wool-growing districts of New South Wales, producing really hign- - class merinos. The season has played an important part in deciding the condition of these wools. West Victorian " merinos, we should say, on average, give 3 to i per cent, more clean yield than those from New England.notwithstanding that in both cases there is a beautiful, soft, silky handle which can hardly be found in any other merinos grown throughout Australia. We heard the other day of a West Victorian brand of merinos spinning to 120's count, an accomplishment which any spinner might ' be promT'of, and the grower has a right to share tho honours. Yet to inspect that'wool it would not be classed any more than flu's to 100's quality, if that, • "and yet the spinner performed the operation in a most oreditable manner, obtaining a count which is really wondcr- . ful. IE was simply a ease of this West Victorian brand (Mount Bute) being grown under tho best conditions possible. There is no cause for wonder at these'., high-class clips figuring so prominently, and commanding the unreserved attention of the best spinners in the worM. Let a clip bo grown under droughty .conditions, such as have prevailed in. Australia during 1 tho past twelve months, and the effects of scanty food and no water will be found legibly writtca upon any class of wool. It is this fact which buyers to-day are appreciating in Coleman Street, and which .^will moke itself still more felt as tho .new clip comes on to the market. , A Bettor Market, The past week has been a helpful time in Coleman Street Wool Exchange, there being some very good sales indeed. Of oourse, things have not got back to where they stood three months ago, but ■ for nil that a satisfactory market still obtains for merinos of all classes, and •the opening advance js well maintain«d. Haying set a paco on the opening .night, there has been steady buying on tho r»rt of Homo and Continental trades, and if American mills had only been operating as they did lost Fohrufiry and March we should have Been stiU higher prices for the- best ■wools. The writor vory much doubts if that is wanted. A far moro stimulating result would bo seen if all the offerings were absorbed and the trade in a froo buying mood. Somo think that topmakers and spinners are simply covering what they have been selling during the past six months, but whether it bo so or not, there are some significant exceptions; firms who'might bo in Chlemnn Street operating freely »ro standing idly by, and doing next to nothing. One is at a loss to underetand their attitude, but it appears as if they are awaiting developments. All the same both Trench and Belgian buyers have continued to operate freely in medium merinos, and it is only whore excessive limits obtain that tho wools • fail to find a customer. The marfrot is wonderfully steady in merinos, and to all apoearanco the trndo is absorbing some fair big weights of wool which it is hoped will find a satisfactory market. A few new Yorkshire buyers havo put in an appearance this week which has helped to strongthon tho denvind. and instead of things showing signs of tapering off towards tho finish, everything points to competition remaining steady and good Tight to the close.

Croisbrads Movinn Better. No very We quantity of crossbred wool is being catalogued, but the Homo trade is valuing them carefully, and is prepared to absorb whatever com« at th«w ideas nf what is a real market value. It is here where tlicro are numerous withdrawals, simply because the British Government's limits are being maintained JVh«t will bo tho final results re,r tb 'be seen, ! biit the Department "cannot go on for ever offering wools and withdrawing the same, because that nitons increosod cost whon the wools oomo to bo catalogue<l a second time. I here - mav vet ba some rery good sales effected privately by tho British Government to Continental syndicates or offered to groups of financiers acting on Ibehnlf of

German and other firms, but the fact remains tliijt considerable weights of crosabreds continue to be taken, not beenusn thoro nro no' customers, but becauso nt too high limits. I'ino crossbreds continuo to make the full 5 per cent, opening advance, and while wo'cannot ■see. medium crossbreds making any moro than last sVjries, more -have certainly found buyers, the withdrawals being largest in coarao tfwilities. .Scoured crossbreds. too. have sold steadily, chiefly to the woolloD trade of Yorkshire and Scotland, while the fact of good flow Zealand sliped halfbrod lambs still wiling from.lod. to GOd. sliows tlmt they also are in good demand. If the present lull had not fallen upon thfc woollen trade, medium crossbred sliped lambs' would also have moved more freely, but here the inquiry has dropped, and the demand is somewhat limited. Taking all things into consideration, tlie entire position is ouc affording considerable satisfaction, due to the measure of buying that is being done.