LONDON WOOL SALES.

Gisborne Times, Volume XXVII, Issue 2595, 1 September 1909, Page 2

LONDON WOOL SALES.

. ■ GOdD • dEMANQ_ FORV COMBING WOOLS ATUNCHANGED RATES.

(From Our Special Correspondent.). LONDON, July 16, 1909. V The past week has been marked by increased activity in Coleman Street, and the sales-are making first class progress. The extremely high rates which were current in May are not being repeated, simply because while America is buying actively, buyers from that quarter are acting with more discrimination, and although operations are being conducted on a considerable scale, still the fancy prices of last series no. longer obtain. It would have been an entirely new development if we had seen a repetition of the great doings which were then experienced, and such hri experience seldom occurs twice in succession. At the same time' r America is operating on a fairly extensive scale, and its buyers' are taking practically all the lightest conditioned parcels of medium and fine crossbreds. A few odd lots of nierinos are going to the United States', blit on the whole there is nothing whatever great being done in fine wools. ,

Thfe Continental trade is active,, and supporting Very well merino ' wools. Both France and Germany are givingexcellent support to fine-haired parcels, and Queensland “new clip” is doing very well. One cannot but notice that the clips already submitted are an im-. provement on, last session, the wools' being better grown, and in lighter condition. : "’ ■' '■■ - '. ’

Crossbreds still move on a par with the opening sale, all the' best wools selling on a„ level with last series, but shabby, heavy, unskirted, eotty clips are not doing so well, these being |d down. Spoured skin wools also are not selling within £d to Id of May prices. Slipes are very plentiful, and these are still moving below last series. Taking all things into consideration the catalogues are being cleared very freely, and wool sells even better than many people expected. In fact, there is much to inspire confidence, for all. sections of the trade are operating on a most liberal scale, and anything at all good sells as well aS ever. PRICES ABOUT STEADY.

i Conditions in Bradford do not reveal a great deal of change, the market as a whole being somewhat undecided. Users are watching the course of events in London very minutely, and are manifesting not the least desire to operate. Everybody acknowledges that the price of woql in Coleman Street is above Bradford, but nobody discerns anything to cause any uneasiness. We ...are pow fast approaching the time of the year when in the natural order of things-new business is scarce, and with spinners being well covered there is little;, desire on their part to buy atr is-.i. Generally speaking values are unchanged, though a few topmakers are wanting |d more than before the sales opened. Good 56’s are very firm at 22d, and' even 50’s have slightly hardened and are well worth 18fd. Average 46’s tops remain steady at 15d for prepared sorts, and, carded a penny less. The demand is not at all healthy, hut topmakers are fairly well employed executing old orders. Consumption is very well maintained on; all sides, com-' mission woolcombers still being fully employed, and the same can be said for spinners. As far as one can see machinery is going to be kept going from -hand to mouth. There continues to be some fair quantities shipped abroad, but even then very little impression is made upon prices, Spinners will not listen to any higher quotations as regards merinos, and super <so’s can still be readily bought at,26Jd, and 64’s at 27d to 27£d.. Plenty maintain that wool cannot be bought in Coleman Street to produce good spinning tops at the above figure, and the news from Sydney that good 64’s wool could be bought in that market at 261 d came as a surprise to users herd. If that is so, then Sydney prices are lower than in London, a fact which, has been well proved during the past six months.