LONDON WOOL MARKETS.

Gisborne Times, Volume XXVI, Issue 2363, 2 December 1908, Page 7

LONDON WOOL MARKETS.

COMPETITION KEEN AND PRICES FIRM.

[From Our Special Correspondent .]

LONDON, Oct. 16., 1903

Coleman Street still presents v, ver\ busy scene, general activity-and keen competition continuing to characterise the sales. Nothing out of the ordinary has taken place this week, each day’s sitting being characterised by a full attendance of buyers, every section continuing to manifest great eagerness to secure wool. All through the week the Continental section has been extremely busy, both France and Germany, especially the former, operating with conspicious freedom. The, leading feature continues to be the same as what has been in evidence since the opening, the great demand for shafty greasy combing wools, these continuing to' sell at hardening rates. Prices can. now for .all good lots of coming wool be quoted at pi above the close of last sales, this being entirely duo to the increased demand on Continental and American .account. The .Home trade all through has not manifested that same keenness for good greasy parcels, simply because prices for the combed top .are not equivalent with the cost of such wool. This latter demand has had the effect of causing medium descriptions to sell the turn against the buyer, and everything has sold considerably better than the first week. I cannot see shabby, seedy, burry parcels neither in grease nor scoured, being much better, the catalogues daily containing many such parcels, besides speculators’ wools. Crossbreds are selling much better, especially fine and medium descriptions, the lightest conditioned being favored by America. During the last- ten days tlie Yankee contingent have bought much more liberally and their purchases will now total a fair quantity at the end of the series. Bradford topmakers continue to absorb the bulk, but the shabbier parcels, which will take -a lot of sorting, sell at no higher rates than at the opening. Germany., during the past week, has bought more largely oi crossbred wools than at any previous series this year, and it is only by an increased inquiry for this class- of staple that they can be lifted out of their present low position. Cape wools still drag the most, medium scoureds and short heavy greasy parcels only being saleable at the initial fall of 5 per cent.

WHY IS GERMANY SO ACTIVE? I have already said that Germany has surprised everybody, and the onslaught of buyers from that quarter stands in strong contrast to what they have done at previous series this year. It is right -to say that they have altered the complexion of things altogether, for had they not been keen and persistent in their purchases, prices would not have kept up like they have. Time and again other sections of the room have asked why is Germany buying like this? and nobody seems able to give a satisfactory answer. The best reply to that query is furnished by one important buyer from that quarter, and lie says that during the late interval many firms have foolishly sold forward at lower prices than what circumstances warranted, and ' now they are forced to cover. It’s the same in Germany as in Bradford. If one big firm makes ■a move many more in sheep-like fashion follow, and it is to be feared that these cheap “futures” will cost many a firm more than they bargained for. France is less active, but is nevertheless buying liberally, and anything fine is moving freely.

AMERICA’S LIMITED BUYING. Considering that there is an unprecedented number of buyers oyer from the United States, the buying from that quarter ie very limited, -and many express surprise at so little going to that quarter. I don’t think that up to the present their purchases amount to much over 10,000 bales, and I shall be much surprised if their whole buying comes to anything like it did last series. Reports continue to be better from Boston, and after the election there is every prospect of a- speedy improvement in business. There 'is at present -a special commissioner over in the West Riding of Yorkshire collecting all the information lie can lay hands upon respecting the woollen and worsted industries, and this will have something to do in revising the tariff which over party gets in. I don’t think anybody is justified in looking lor lower rates on fully manufactured goods, but on raw materials there will certainly be some reduction. In the future there is going to be a larger trade than ever done in Australian wools, for American users must have them. NEW ZEALAND SALES.

Sold by Messrs. Thomas and Cook, October 8: Tar nd ala: Serd. 10 sup A A coni 2 211 do, do 211 rlO do, do 20; 6 do, do 191; 10 Ist do 191; 17 do, do 181; 6 do 181; 12clo 171; 15 do 161 ; 10 Ist double 191; 4 2nd do 171; 1° necks 18; 34 do withdrawn; 21 Ist pcs 19; 20 2nd do. withdrawn; 11 do 171 ; 5 double do 18; 6 S do 15; 31 bellies 1815 23 locks 16; 10 do 15; 8 do 141. Grsy. 19 Ist com 9; 39 do,do 81 ;35 do, do 81; 17 do, do BW 8; 21 do, do 8; 18 2ikl 81; 4/ do,do 8; 53 do, do 8; 6 Ist clo 8; 18 2nd 81; 100 do, do .8; 6 Ist clo 81 18 do, do 81; 23 do, do /Id; 10 do pcs 71. , , Sold by Messrs. Buxton, Ronald and Co., October 13:— _ Otaio: Grsy. 26 A 1-bd 11; 35 B do 101 ; 14 do., do 91; 4 do, do 9; 16 Cdo 91; 4 do 81; 4 A 2-bd 8; 37 do, do 81; 12 B do 71; 20 A f-bd 81; 14 do, do 81;'5 Bdo 71; '29 A ersbv 71; 22 B do 61; 13 A do 71; 12 Bdo 7; 7 1-bd pcs 6; 9 do bellies 61. Nice quality, soft, well-grown, and a very creditable clip. Rather yellow at the bottom.

BRADFORD BUSINESS. A FIRMER MARKET. Bradford has more or less recovered from the depressed feeling 'of last week, and there is not that' despondency that one met with ten days ago. But even that is not saying a great deal, for 1 there has not been any corresponding increase in .actual business. Worstedopofis has simplv felt to some extent the ozone of Coleman Street Wool Exchange, holders of the raw material aie firmer, but-there has been no advance of a real forward character. Had it not been for the increased firmness of CVleman Street,