LONDON WOOL SALES.

Otago Witness, Issue 2895, 8 September 1909, Page 7

LONDON WOOL SALES.

(From Oub Special Correspondent.) r LONDON, July 23. THE FINAL VERDICT OF COLEMAN ,1 STREET. Last Tuesday the fourth series of colonial wool sales terminated, and Coleman street is once more silent. A good 6troke of business has beer done, although the final \ .results wil) hardly have pleased, all parties. No changes "of importance took place duri\ ing tho closing days .of the series, the _atr 'tendance being well maintained to the r finish. The net total available -amounted -co 152,000 bales. Nc less than 136,000 bales have been sold, 75,000 bales being taken by the home trade, 52,000 bj the Continent, and 9000 bales to America, leaving 16,000 1 bales to be carried forward to the Septem4>er auctions. I don't think I can do bet- * ter in bringing the present series to a finish than quote the expert opinion of one of the leading &3lling brokers. Messrs Charles Balme and Co. state that "although consumers have been fully employed since ihe close of the May auctions, they have found themselves well stocked wifch the raw material ; moreover, as the excitement, engendered by the extensive operations of American buyers subsided, it was realised that there was no actual scarcity of wool ; consequently, with the prospefcts of ample '- supplies next reason, values have had a \r' drooping tendency in the manufacturing <\istricts during the interval. * "The attendance of buyers throughout the ] sales has been" large, but competition has not been so active as in May, particularly on the part of the American section of the trade, who, however, on this occasion, while exercising much greater care in their purchases than last series, have acquired a :- considerable quantity of the best fine and L medium greasy crossbreds, as well as a few ~ of the lightest and best greasy merinos. "Merinos must be quoted In average 5 per - cent, cheaper. • The position of the best ~ greasies, which have attracted keen competi- £. . tion from all sides, was unchanged, but ft medium and faulty descriptions have sold 7 J J generally at 5 per cent, below previous rates, % this " decline bsing often exceeded in the ;' case of New Zealand shipments. The best I Ecoureds were also 5 " per cent, cheaper, U jbut on average to gocd parcels, as well as j faulty and inferior lots, the fall usually » amounted to 7£ per cent. "Light-conditioned fine and medium greasy , crossbre3s realised fully previous quota- ' tione. The heavier-conditioned lots of fine quality also sold well, but the general run f, of medium and coarse sorts, which were 5 *. per cent, cheaper to begin with, lost ground during the progress of the auctions, and at < the close medium were 7£ per cent, and * coarse 10 per cent, "under May final parity. : As i« usual at this time of the year, I Bcouredj and slipes have beer in large t- supply, and have met with a somewhat un!j- satisfactory market; the finest descriptions \ . lhave ocsesionall; commanded previous values, but more frequently have ruled 5 per cent below the former level, while u pnedium and coarse kinds have also sold irre•tgularly at from 7£ to 10 per cent, decline. | "South African wools were 2i to 5 per ■s- cent, lower at the commencement, the fall t'' feeing greatest on short-stapled greasies. L This lerel was maintained with only slight •' variations during the sales; at the close, jj, liowever, competition for combing lots im- : proved, final quotations for suen parcels I showing but little change from May rates. * In view of the large consumption now in progress all over the world, and the moderate supplies which will be available for the i fifth series, any further decline in values for cither merinos or crosabreds, seems imf- probable; moreover, the long period whioh ¥ jbas^ to be provided for before the new seah eon's wool arrives in Europe may force menu- »: rffaeturers to operate during the September [' sales with greater freedom than might be ' expected in view of the large dimensions £ ,of the new season's output, and thus bring 'about a firmer market than al present se»ms Bikely."