LONDON WOOL SALES.

Gisborne Times, Volume XXVII, Issue 2556, 17 July 1909, Page 2

LONDON WOOL SALES.

FINAL RESULTS OF AN EXCELLENT SERIES—WILL THE AMEJXJ.UAN demand fizzle out? (From Our Special Correspondent.) BRADFORD, May 23, 09. Once again one passes along the corridor of the AYool Exchange and finds it no longer crowded with men of all nationalises) these having cleared off to their respective homes. The May sales are over, and everything wears a normal aspect. It would indeed be strange df it was otherwise. There is a time for all things, and having had their fill of raw material, it is absolutely essential in the interests of both grower and user that buyers should look wel] to the manning of the ship when they have taken supplies and cargo-on board. The finish-was a good one, and everybody could not but feel satisfied at the results achieved. The expectations of both bank managers, importers and selling brokers were more than realised, and a happy, feeling to-day characterises the whole trade. There is nothing like a brisk series for imparting general confidence, and for giving all to feel that the market has to it a good bottom. AVhen , the trade feels “shaky” at the most vital part, it is never. long before we see unoomfortable evidence of this with falling prices, but if London did anything at all it proved how sound were prices, and that men had confidence in the raw material. AVhen one comes to thoroughly examine the most essential parts'and to see that users both in Europe and America are well supplied with the raw material, it is indeed a wonderful achievement to find that no less than 168,000 bales were sold in .5 day*. FINAL RESULTS. As compared with last sales (March) closing rates the following changes took place: — —New Zealand.— Merino grease, good Id higher ~ ~ avige. Ad to Id ~ ~ scoured, good Id to l£d ~ ~ ~ faulty Id ~ Crsbd. grsy, fine, light Id to lsd ~ ~ ~ medium, light 1£ to 2d ~ ~ ~ ~ avge. Id to l£d ~ ~ „ coa.rse, light Id to Ud ~ „ ~ ~ avge Ad to Id ~ ~ ~ lambs Id * ~ • ~ aliped, fine Id ~ „ medium Id ~ ~ ~ coarse id to Id ~ The above cannot but be considered eminently satisfactory mil round. In the case of crossbreds the advance was oftentimes from 2d to 2fd per lb. when America was on the wools, and certainly the advances made proclaim more than words the strength of the market. With only a carry oyer of 10,000 bales, there is also one more evidence, that stocks are exceedingly light in first hands, and it is a surprise to everyone that such a small quantity should have been available. It will be remembered that the number of bales net returned as being available for sale was 177,500, but there was actually catalogued 179,400 bales, and with the held oyer and withdrawn quantity, numbering 10,000 bales, there must have been something like 190,000 bales of Colonial wool in hand for sale. _ Notwithstanding larg* supplies being in the hands*of users by- way of imports, yet everything melted like snow before a hot sun, and with such a small carry over the outlook is rendered all the more satisfactory, particularly from the standpoint of the grower. America purchasing 23,000 bales is not a very great item, but all the same they cleaned up the catalogues of the best wools, and so forced the Home and Continental trades to compete all the more keenly for medium descriptions. A special word of congratulation is well worth being given respecting the wools from the South Eastern portion of South Australia, up to Is 4*d being secured for grease combing. GETTING THROUGH THE AVOOL. There is no more startling phenomenon connected with the wool trade to-day than the .record movement of supplies, the trade never lifting eo expeditiously the raw material in any previous season. The figures if _ they are analysed are almost sensational. And yet nobody seems to have the least fear that either the Home, Continental, or American trades have bitten off more than they can chew, Scbwartzes’ figures oome in very useful at this juncture. Adding transit wools and direct imports to London purchases, the total deliveries compare as follows: 1909. 1908. Bales. Bales. Homo consumption 637,000 570,000 Continental ~ .1,109,000 896,000 American ~ 138,000 58,000 If careful note is taken of the above it will be seen that already the deliveries to the trade, show an increase of no less than 360,000 bales. This is partly due to heavy' arrivals from producing countries, mostly Australia, aiid partly to the larger quantity last year. This 360,000 bales is certainly a very noteworthy increase, and a careful analysis of the above table shows that the home trade has absorbed only 67.000 bales extra, and as much as 213,000 bales more have gone to the Continent, while America .has absorbed •A 000 bales more. It sounds to sense that if this wool has once gone forward it qannotj be there to sell again, and although 140.000 bales arc estimated to arrive for the July sales, even that amount is more than was generally expected.