OUR ENGLISH WOOL LETTER

New Zealand Times, Volume XXXVII, Issue 8363, 25 February 1913, Page 2

OUR ENGLISH WOOL LETTER

COLEMAN STREET REVEALS A SOUND SITUATION.

From Our Special Correspondent. LONEON, January IT. The event of the week has undoubtedly been the opening of the first aeries oi sales for the current year, and this toot place last Tuesday, wool once more commanding the unreserved attention of the wnole trade. There was the usual large contingent of buyers, who _ appeared to manifest as much interest in the course of the market as ever, due no doubt to the somewhat disturbing factors which have come upon the scene during the past few weeks. There was nothing out of the ordinary associated with the opening, although it must be said that on the whole a very satisfactory initial sale took place. General expectations favoured no change, and that about emus up what actuaiiy took place. The vacation. haa been characterised .with so little alteration, and really speaking the position of things manifested no inherent change, that it was hardly likely that Coleman street would deviate from a sound general policy, and the first round passed off with a firm market being revealed. If anything, merinos sold in Bullets* favour, some of the medium combing wools fetching id more than they did in Eeooniber. That can aloe be said for the shafty pieces, bellies, necks and broken, while it 1s noteworthy that the superior lines of merinos made no more than last series. Scoured merinos moved without change, the outstanding feature of the first sale being, 1 ihe good, general all-round competition. Crossbreds were somewhat sparsely represented, and here, too. both lino and medium classes were unchanged, though the coarser wools certainly eased a trifle, being mostly quoted par to id down. These were the only alterations, and taken in the aggregate the changes teen were less important than wO have witnessed for several scries of sales. MERINOS HARDEN. Succeeding sales have certainly shown dome improvement on the opemujr, and the trade is now confronted with the fact that fine wools are certainly against buyare. The catalogues submitted daily contain a splendid display of really good wows, and there in not the least disposition shown to hang back, but the opposite. Exceedingly good sales have taken place since Tuesday, and no class of merino wool hangs fire in the least. As a matter of fact, withdrawn lots which were taken in last December and which have been submitted this week have made oftentimes id to Id more than what was then bid, while the most surprising thing of all is the sale of the New England Qoonoo Qocnco clip, which was offered last Wednesday, a portion of the same clip being also catalogued last December. No doubt the circumstance is an abnormal one, but the fact is there no • matter what explanation is offered. Last November 87th. the top price realised p for this clip was 14ld, while this week it has made 17d, and I could see very little difference in the wool. Many buyers remarked that thin clip this season is distinctly worse grown than twelve months ago, it being more wasty in condition and burry, but no doubt it is the superfine quality and handle which are the prime factors in causing it to sell as it did. The heme trade and « Boubaix firm of brokers ran it up, and it woe not a question of one lot making this, high price, for no less than eight lots sold from 15d to 17d, and big ones into the bargain. The second combing wad* from Ibid to Wd; broken X4d and 13fd, prices which show distinctly that big. figures : are forthcoming for wools of good quality and decent character. Last series wo. got in many coses the first consignment of many noted Australian brand*, and this week the second shipments have been catalogued. A seed number of clips have opened up distinctly better than many expected, and there is no doubt that the clip this season is ; finer and shorter than a year ago. Still, one does not meet with so much tender stapled wool a« might have been or--, period, but just as showing the course of the market I give below the price* realised last series and again this week for the fleece, pieces or broken of the 6wm dip, which I think illustrate how the market has gones-r

Quite a feature of Thursday’s sale was the oflering of the West Victorian wools. Mount Bute making Is 6Jd tor _ grease super combing and the same price for clothing. Wilson-Hount Emu made Is Sd for; grease combing, but six bales ot greasy lambs made Is lli<i, and went to Huddersfield. S. Wilson-Ercildouhe was warm water washed, as usual, and made up to 2s 7Jd for combing and clothing Sa 7d. The days of high wool values have in no sense passed, . but excellent figures are still forthcoming for good, sound well-grown wools. 1 call greasy merino” wools to-day about 5 per cent, higher than last series, the stronsest doraand being for West Australian, New bouth Wales and Jueensland grase, the West Victorian wools being more or less a speciality* The demand was never keener and excellent prices are being paid* CROSSBREDS SELLINGFREEL* -AT GOOD PRICES. It cannot be said that so far there has been any large quantity of crossbred wool catalogued, but the demand is exceedingly good, and those who came to Coleman street expecting to see them on the weak aide, have so tar been disap pointed. America is represented by hve. buyers, besides two or three Loudon brokers who have buying orders in addition, , and are therefore prepared to give considerable support to all the light conditioned parcels which come to he catalogued. M far as one is able to judge from the new wools offered, the New Zealand clip thm season m going to be bettor than last, and the clip was certainly an improvement pi. its predecessor. The wool appears to be very well grown, it is light and very attractive. due no doubt to the.somewha excessive rains which visited the Do minion during the winter. Ihere is little -room for complaint as yet, auo the prices paid indicate that they are distinctly higher than they wore at the corresponding series a year ''** now only want a robust trade in order to see them lifted With the same freedom ae merinos, anti by March there can come over the whole situation a keen desire to operate. The American buyers who ore present in Oolemmi street

say that they have not come to buy largely, and aro not going to pay extravagant prices. Keally their classes are fetching no moro than they would have done last senes, although many say that they are obtaining a shad© lighter wools at the pnee. Ph© difference is that last iMovcmber-Decem-ber they bought wools that were heavy and sappy, whereas to-day they are purchasing “new clip,** which present an altogether lighter and more attractive appearance. I. call fine and medium crossbreds equal to last senes, and although hero and there low crossbreds are coming at id less, still -Id’s tops are going to cost fully 15id without profit, so where the decline comes in is beyond of any man to say. Slipcs aro scarce, practically no haU'bred lambs seem to be available, and prices are equal U December except for deep coarse wools or th© Lincoln order, which aro usually i down. i BRADFORD’S RESPONSE TX) LONDON. As a result of tho firmness of for merino wools, topmakers in Braolora ar© decidedly stiller in .their quotations* Some of the best makers are even going so far as to affirm that they will not accept less than lls sfd ter their 64 s, and proless to be indmereut about doing so. but when business is put through it has often to be done at a bulf-ponuy less than the figure named. When it m borne in mind that 64’s wool bought u» Loudou to-day is costing ffi>id-3(id in the top, it wili bo seen that their attitude is more than justihed. The argument put forward is that Botany wools for combing arc going to bo scarce, and this com loution bids fair to bo realised, so that the relative idea that tops made from this type of wool will appreciate, haa much more in it than a semblance of truth. The way in which the sales hav* opened has convinced fine spinners that it is useless to think of trying to hold out of the market any longer, ao the, are now coming forward and buying te meet their immediate requirements, and the general feeling is that they will continue to do bo. The immediate result 3f this is that the measure of business has expanded somewhat, and the trade generally is looking forward to a continuance of good trade. In crossbred tops, fine sorts haye shared some of the impetus felt by mennos. and moderate quantities are passing out. of hand. Coarse torts are still Buffering from tho effects of the Balkan troubleand while the “stand in" cost of 40’s tops bought in London, is I6Jd, that price cannot be made readily in Bradford. Thuis tho worst feature of the trade to-day. and whilst it is only natural for Spinners to think they ought to be able to get in at a fraction less, because London values have eased a little, topmakers are equally confident that the price they have paid for the wool does not warrant them in taking lower values.

Nov.-Doc, Jan. Nor.-Dec. Jan. Mark. 1912. 1918. 1912. • 1912. Pieeee. ileeoe. Pcs. or brka. Pcs. or brim. Yatkong d. d. d. A. : 13—121 12-11 Hi— U Bangate/Q. WciSot 9i 9i It 11 121 Ui Bnrenda 14i 13$ lt| Bowen Downs „ 13 13 11 1U Coonoo Goonoo ...; 17 12 13| Cardillo a Corunna Dofrns Si 9 ’ Wallareena ii 10 10| Campbell House ; Hi bid 13J Hi U Yarrabee ' 12 11 101 15 12 13 13 1? 13 13J "14 Portland 15 Mlrick 12 10 10$