London Wool Sales.

Feilding Star, Volume XVII, Issue 116, 14 November 1895, Page 2

London Wool Sales.

11 O * ' " "" By the last 'Frisco mail the Bank of New Zealand's London agents report :— Wool— The fifth series of sales of Colonial wool commenced on 24th September. There was an exceptionally fall attendance of buyers in the sale room, and immediately on the first catalogue being commenced it became evident that there was a great eagerness on the part of buyers to secure wool at a considerable advance on last series values. The sales haye now been progressina fully a week and throughout that period the competition has been very animated. The advance in values is from 15 to 20 per cent, on an average but it does not affect all kinds of wool alike. Crossbreds, which are in exceptionally brisk demand for the Home trade are quite 20 per cent, higher — lustre descriptions showing the largest improvment. Wool of this class which was fetching 7sd to 8d per lb last January is now worth lOJd to lid per lb. Combing merino wool is 15 to 20 per cent higher, and clothing qualities show an appreciation of about 10 to 15 per cent, on July levels. This advance was not unexpected, as for weeks prior to the opening of the sales reports from manufacturing centres, both in this country and on the continent were of a very encouraging nature. Consumption was said to be large, stocks were rapidly running down and prices for tops and* yarns were advancing from week to week. This tendency was farther intensified by the fact that the quantity of Colonial wool available for tbe present series would not be large, and that some months must necessarily elapse before much of the new season's clip could be placed on this market. Ihe quantity to be carried over from these sales will doubtless be very small, as very few lots are being bought in. Bayers from the United States, who gave our market such substantial support last series, have bought very little daring the past week, and according to all accounts are not likely to make their presence much felt at these sales. Probably they satisfied their requirements for some time ahead during the proceeding series. In any case the balk of the wool now on the market is not suited to their trade, and this to some oxtend may explain their present position. The brisk demand which exists for lustrous crossbred wool is largely due to the extensive orders in the hands of manufacturers for crepon dress materials, which owing to the scarcity of Mohair, is now mostly made of coarse wool. If the prevailing fashion continues to run in favor of such material— and at present there are it is said no signs of its falling off— tbe outlook for the owners of crossbred clips during the coming season is very encouraging. But in addition to this the demand for all kinds of wool is good, and it is confidently believed that we shall now experience a genuine and well sustained revival in the industry.

(Per Press Association.) Melbourne, November 18. There was very vigorous competition at the wool sales. The market is firm and active at late rates. A notable feature was the sale of some highly bred merino of very fine quality. For this there was keen competition and the price realised (12jd) is the highest paid this season either at Melbourne or Geelong for greasy fleece wool.