LONDON WOOL SALES.

Gisborne Times, Volume XXVI, Issue 2292, 10 September 1908, Page 1

LONDON WOOL SALES.

PRICES WEAKER. [From Ouii Special Cokkkspondunt.] LONDON, .July, 31. The week’s work in Coleman street has ag iiu been chnrnotorised by considerable activity ,though there has been decided ovi'donco that values arc weaker. I never though that tho buying strength of tho first two weeks good as it was— could maintain the keen pace to the finish, there being signs of weakness in crossbreds towards tho end of last week. Monday’s sale settled tho ppi.ut outright, withdrawals boing heavy both in merinos and crossbred. "Alter a fortnight's hard work, many Yorkshire buyers wont home for the wcek-ond, consequently last Monday’s sale was rather thinly attended. Everything to my mind went tho turn cheaper, with tho exception of a, few special lots ol grease merinos, Continental buyers still purchasing thoso at good figures. All through tho series buyers have lulfilled then- order: •.v'tli considerahlo freedom, but. win. ■.e pressure was over, settled clown to buy wool at more or loss reasonable values. This was especially so by tho Americans, for directly tho ono-man show was over, medium crossbreds declined a full penny. It was practically the bidding of ono buyer and his taking every lot of medium crossbreds led tho otlior Americans to force his band by “trotting” him, ajgh directly his wants wore supplied «Wey lowered tlioir values considerably. Throughout the week tho catalogues have been very big ones, 6omo good, straight lines being submitted. There has also be'eu offered a lot of odds and ends, speculators' lots, and these have not sold so freely as last wee’k. Practically speaking merinos have lost 5 per cenb, with tho exception or t»ood average straight lots of combing grease, but faulty lots, whether grease or scoured are not now making any more than March parity. Crossbreds liavo continued to bulk heavily, and those too have expel ionccd perhaps the most of the reaction. Fine qualities have seldom made more than full March parity, medium and coarse appreciating the most the first fortnight. All through tho week mediums have been ietchin<' a penny less for American sorts, while regular Bradford topmakers wools have sold at Id to Id less "than last week. Withdrawals have been more numerous, though competition lias continued good. impurities in wool. At tho end of last week the full committee dealing with the vexed question of vogofcablo matter in wool met at Dalgety’s offices, and although not much practical business resulted, wc saw how things actually stood. Nothing “really tangible can now be expected until 100 new bales which are boing tested on Brie Brie and Caramut stations, in Victoria, come to London filled with wool. These two new bales aro simply a paper lined one, and an ordinary jute one made bv a firm of London spinners which has so far mot with the approval ol the committee. What this body wants to find is a jute halo with a perfectly clean inside, but so far not a great deal of success has attended their efforts. The one at present being tested is certainly a very good one, but some think it is too much liko canvas, and will not carry . as it should do. The Chairman favois a trial of jute bales which have been siu "ed, hut I am afraid that the fibre wilF break loose when tho wool comes to be packed and friction is again brought to bear on the insido. A Melbourne woolman, who attended, expressed tho candid opinion that a n-ood deal of the mischief, was caused, not by tho wool bale itself, but by the rough usage and cutting open in the wool lofts in London. Thero is no doubt that the treatment there could bo sensibly ameliorated. The more bales are cut open the more the edges are liablo to fray.. At the same time the committee pointed out that their chief concern was to find a bale with a perfectly smooth inside, so that tho myriads of loose bits of fibro could nob rub off on to tho'wool. Long bits of string can be seen and picked out by tho sorter, and if these get into a blend then it is absolute carelessness.. Iji other words if topmakers will only bo more careful in sorting, and a smooth inside can bo got, then it is certain that tlio jute evil can be entirely abolished. Tlio Melbourne gentleman present advocated the adoption of wool being shown in London like it is in Australia. In London every bale of a lot is shown, ulioicas in Australia only a portion of it is exhibited. Then ho contended that it Goldsbrough Mort and Co’s latest method for fastening on the top ol the bale was adopted it would do away with cutting altogether, but 1 hardly think that the committee is as yet prepared to go so far until it can find the new jute bale that is wanted.

NEW ZEALAND SALES. Sold by Messrs H. Soliwartze and Co., July 22: „ , Pouparae: Grsy. 2c ersbd. A bpl, 28 do 13 7d; 7 do Dpi; 11 do cotta 6d; 5 do SE Sid; 2 do neck pcs 4pl; 4 do, do od; 5 do bellies od; 15 do A lambs dpi ; 4 do, do dpi; 2 do 13 do 4Jd: 4 slipc ersbd 7d; 4 do, do (id; 8 serd, do locks 7id; 36’s to 40’s, deep grown, of Lincoln character and nicely got up. bold by Messrs Thomas -and Cook, same day : Tarndale: Grsy 15 Ist com 9-pl; 36 do, do 9d; 7 do, do 9-Jd; 19 do, do 9d; 9 2nd do 9Jd; 46 do, do 9d; 4 Ist do Bpi;. 5 do clo 9d; 15 do, do 8d; 4 do pcs. 814'. .Nice qrjality, but not so very light in condition, laud rather fatty. Nice length and sound. Sold by Messrs Charles Baline and Co., July 23: Taoroa: Grso 4 A ersbd com Dpi; 15 13 do, do 10 pi; 10 C do, do OpI; 3 do, do 7d; 26 13 do, do lid; 33 do, do 10; 29 do, do 8d; 4 do, do 7d; 8 C do, do 7d; 6 do, do 7Jd; 5 do, do 8d; 5 do; do Bjd; 8 Ist do lambs 9d; 4 2nd do, do 6Jd; 4 3rd do, do sld; 6 Ist do pcs withdrawn; 4 do, do od; 12 do bellies Bd. A 1 clip, very light, sound, and -up to the mark. Highden : Grse. 14 ersbd com ,8pl; 15 do, do 9pl; 5 do, do 7d; 54 do, do 7pi; 5 do, do 63d; 41 do, do 7PI; 10 do, do 7Jd; 67 do, do 7d; 19 do, do 6jd; 17 do, do 6-1 d; 11 do, do 6pl; 3 do, do 6fd; 17 do lambs 7pl; 17 do bellies sd; 7' slipe do lambs Bpl. Splendid character, sound, light, and well grown. 40’s to 56’s, but a little skirty. Sold by Messrs Willans ami Ovcrbury, July 23: Pare: Grsy. 9 A ersbd 73d; 7 do, do 7d; 25 13 do 7d; 14 do, do 6pi; 30 do, do 6jd; 22 do, do Dpi; 16 C do 64d; 25 do, do Gd; 20 D (lo Gpi; 44 do, do 64c1; 12 E do 6fd; 35 do, do spi; 9 D do spl; 42 do, do spl; 7 Ist do pes spl; 9 do, do opl; 16 2nd clo, do 4pl; 22 13 do, do Ipl; 4 do crutchings 4;Jd; 9 do locks 3d; 9 Ist do lambs 8pl; 20 2nd do, do 6Jd ; 20 3rd do, clo 6pl; 18 do locks 4pl. Good useful clip. Sound, well-grown, and

in good average condition. LOWERING PRICES. London and Bradford will not tie up at all, and the situation, in tho premier consuming centre is depressing. Theso tiro not exaggerated words, but a plain, unvarnished statement of actual facts. All through tho current series of sales Bradford has remained as callous and indifferent as possible, and tho effect of the briskness of Coleman Street upon Worsbedopolis is absolutely nil. All through the series there has been growing increasing scepticism concerning the standing of the raw material as revealed in London, users hero determining not to take Coleman .Streot as any criterion in deciding their (actions. Thero is no question of a doubt about every quality being worse to-day than a fortnight ago, and tho reported weakness in London lias had the effect of causing an all round reduction of 3d per lb. both in merinos and crossbreds. The 233 d which topmakers wero asking iiL self-dofonee for their super. 00’s has boon reduced to 23d, and lOfcl will buy any quantity of good standard 40’s tojis. 'l'ho missing link continues to bo the pronounced slackness of trade, business everywhere boing decidedly quiet. It is really surprising what a spirit of dndilferenco prevails to all outside factors, and the free American buying of tho past few weeks looks like fizzling out. Only a continuance 0 f export demand can prevent tilings from becoming cheaper, and the immediate future is being looked forward to with somo misgiving. The only business passing is for very small quantities, no spinner buying any bulk whatever. There seems to be about this centre no encouraging feature whatever, trade everywhere being remarkablyi quiet, and short timo is increasing, and not diminishing. Crossbreds seem to be in a worse position than merinos, even the briskness of the first fortnight in London bringig out no increase of yarn contracts. Reports from Germany are still very unsatisfactory, there being offers made which if accepted would only mean a decided loss to spinners. There is anything but a confident feeling in the market, many fearing further weakness with tho holidays approaching. In tnorinos there is a fair weight of yarns being spun, but stocks are accumulating particularly in whites, and some recent contracts accepted show that spinning margins have entirely gone. Mohair is marking time, although more speculative purchases ■have been made both at Constantinople and the Cape at practically the lowest prices yet accepted. Yarn spinners complain bitterly at the absence of trade.