LONDON WOOL SALES.

Gisborne Times, Volume XXVII, Issue 2658, 13 November 1909, Page 7

LONDON WOOL SALES.

UNPARALLELED ACTIVITY AND PRICES STILL TENDING UPWARDS.

(From Our Special Correspondent.) LONDON, Oct. 1,1909. The sales are proceeding in a real vigorous style, competition could not be keener, wool is selling remarkably well, and there is as much enthusiasm as ever. That just about sum,s up the standing of wool in Coleman Street, and every feature is of the best. Plenty was said last week that things ivero too hot to last, but so far as the present series go, prices will last, and the end is approaching with every description of wool at the top notch. - This week’s catalogues have been good average ones, and they have been cleared with rare avidity. I have often, thought that it is a real good tiling that the September series is usually a brisk one, otherwise the large quantity of very .shabby, wasty, extract wools would come badly off; but with there being a good enquiry all this rubbishy stuff usually sells well, and commands fair good prices. This series all these wools have done a good penny better than last July. CONTINUED ACTIVITY. The outstanding feature of the series continues to be the great unmitigated call for wool, and no matter whether it be merinos or crossbreds, there is the same eager desire to operate. Taking a surface "lance at the attitude of the whole trade as buyers sit in Coleman Street, there is no disguising the fact that all alike are as keen as can be to buy, and the high prices are' not deterring —as far as one can gauge the situation—anyone from stepping in. On the other hand some Yorkshire buyers seem keener than ever to purchase. No doubt in many ca.ses choice docs not enter into the game at all, topmakers being in the position of being forced to cover, and they are doing the best they can. The price of wool suits no one—except the grower; but it has to be bought, and several I could name look like being losers unless they have some cheaper wool at home to water down the London cost. The activity seen this week has been phenomenal, and the catalogues have been cleared in fine style. Wool never met with a more hearty reception, and the carry over will be paltry. MERINOS STILL IN SELLERS’ FAVOR. Personally I can’t see merinos very much different to what they were towards the end of last week, but several selling brokers have declared fine wools are making £d more than during the first two nights of the series. This no doubt is the outcome of the very high prices paid-for Queensland “new clip,” and when lod to 16d is realised for grease wools it makes everyone talk. Such is what wo have seen this week, and for once Coleman Street lias outstripped Brisbane. Everybody thought that at the sale there the first week in July, prices were very high, but London has gono one bettor both in grease and scoured. This week 2s 2d has been paid for several lots of combing and clothing for station scoured, and Is lld to- 2s has been a common price. Last week the best scomeds only occasionally made two shillings, but during the past few daws the best wools have sold better, and these are now lid to 2d better than in July. For these reasons the opinion is held that fine wools are generally 5 per cent, better than last week, and no doubt in several cases this is true. CROSSBREDS SELLING UNCOMMONLY WELL. No complaint can be made at the way crossbreds are selling, and neither in greasy fleece or slipes is there the slightest weakening. If anything, the tendency i.s the other way, everything selling at the highest point of the series. The Home trade continues to give the best support, and I call all qualities at least above the parity of tops in Bradford. There continues to be the keenest demand for fine grease for America, and nothing can bo had .under lid to 2d more than last series. There are no really good wools such as America buys, all being medium in condition. Wools worth lid last series are selling to-day mostly at 13d, and 13d wools in July can easily be disposed of at lod and lo£d. Medium crossbreds are up lid, and coarse Id to lid. Slipes are exceedingly dear, and the rise here is now an all round l£d to 2d. except for very short coarse, and these have only appreciated -Id to Id. What is wanted is length, and then the wools sell furiously. The situation is very sound, and all section are buying. PRICES HIGHER. IN BRADFORD. The real outcome of the London sales so far as it affects Bradford is to bo seen in the price of practically every commoditv being quoted dearer, no holder being now prepared to accept what he would have taken on the eve of the sales. That wool has gono dearer than the majority expected goes without saying, and until users see a clearer outlook they are not going to risk much. There is really speaking no new feature. ' Consumption is being maintained at the highest point, but all the same there is a distinct slowing down in new business. It should be borne in mind that spinners in particular had very largely covered prospective needs, and the majority have contracts running for tops which will meet all the demands of their spinning frames until the end of the year. In that case they are prepared to wait, and the impression upon the minds of many is that the present “hunger” prices are not going to he maintained in their entirety. All topmakers have advanced their prices in self protection, and lodav 28d is the very lowest that anyone will accept for super 60’s. There is still proceeding a fair enquiry, but topmakers are finding that the struggle vs now going to be keen on the ground of values. Wool in London is regarded as too dear for this market, hut there are several users who must have it regardless of price. Crossbreds are exceedingly firm, and the penny advance in fleece wools has strengthened materially the hands of holders here There is a little more doing on Continental account, and taking things as a whole conditions are sound and healthy. There i.s still to he done plenty of business, but the price question is what is troubling not a few. Whether or no the wholesale trade is‘going to follow London remains to be seen, and manufacturers arc finding it mcreas•ingly more difficult to work at a piofi ' Seasons’ patterns are all out for next spring, manufacturers will soon be b ginning to deliver their new goods, and. to have to issue lists-will do no "ood. Mohair is , doing little else thaiv mark time. Spinning frames keen mostly busy, but in the raw materia there is rather less.: doing. Alpaca lately has been more active, and prices are slightly dearer.. Noils also have appreciated about a*-* penny . pci lb. since a month ago. and an increased turnover has been done among flannel manufacturers in particular, inking things all round the situation is hefPthy and sound.