LONDON WOOL SALES.

Gisborne Times, Volume XXVIII, Issue 2713, 19 January 1910, Page 2

LONDON WOOL SALES.

PRICES BARELY MAINTAINED

(From Our Special Correspondent.) LONDON, Dee. 3.

Another week of good business can be chronicled in connection with the series now last finishing, though in the ease of medium greasy merinos the high prices of. last week have been hardly maintained. 'Phis relates to wools giving a clean yield of round 40 to 44 per cent., and which last series sold so freely at about- lid to 11 Ad per lb. To-day they are not fetching niore than lOd to 104 d, and even at that they are costing quite enough either fo-r Yorkshire or Continental buyers. Users have found by scouring results that these wools, .while well grown, are much too high for everybody, hence the slight decline is but a natural reaction from the (high level created by a famine demand. West Australian, New South Wales, and Queensland merinos have all alike felt this slight -reaction. Good scoured merinos have slightly improved their position since last week, and the best -wools are now selling on a parity with September rates., Queensland station scoureds were never in better condition, and both the Home and Continental trades have taken them freely. Good shafty pieces and bellies iare also selling in a first-class way* and even locks lor carbonising are quite as dear as t/liey were last series. \\Tmt is a distinctly disappointing element is the absence pf American suimport, and the quantity taken of merinos by the United States is very small indeed.

Turning to crossbreds, greasy .wools have only been but a small handful, practically all the offerings' comprising sliped descriptions. For these -there has been a very good demand, chiefly on home trade account, and here the rise is most pronounced. The fine ballbred lambs selling up to 16d show no change, but when we come to the medium and coarser qualities there is an advance -of Id to ltd per lb. This is largely due to the extra length of staple, a prime factor with Bradford toip-m-akers", who are wanting these wools for carding tops. •Cape wools have been fairly well represented. Where there is any length full last sales’ prices are paid, but the .shorter, washier wools are more irregular, and prices are id to id cheaper. Snow whites have been very scarce, and these arc still easy of sale at very good figures. TOP-MAKERS ASKING MORE.

The situation in Bradford does not show any radical change compared with a week ago, and this notwithstanding the increased firmness of the' London market. The new business passing is very meagre, simply because the majority have put up prices about 4d per lb in order to cover the increased cost in London. Users here have not as yet- made up their minds to pay any increased rates, and they are going to wait and see ments before paying more money. All alike recognise .that Coleman (Street is sensibly above Worstedopolis, and yet nobody is keen to buy. It is generally felt that users are simply paying extreme prices by way of covering, and that it is largely force of circumstances which is actuating -and determining values at the sales. Business continues to be good even though there is not a lot doing. Crossbreds have responded locally, and 133 d to I4d is now a more general quotation for 40’s tops, 16d to 16£d being also realised for 46’s. What perhaps surprises people most is the way the raw material- is moving, but- it- is largely because users must have it to keep going machinery and discharge obligations. London has convinced those who were sceptical about the soundness of prices that the situation is inherently strong, and -that there must be proceeding everywhere a tremendous consumption. The stock of tops in Bradford is somewhat light, and all topmakers alike are quite prepared for the. arrival of their Colonial purchases. We have seen part wool, and prices are certainly below what is being -paid to-day in London. Consumption is well maintained even in crossbreds, and there is still a fair weight changing hands of carded descriptions. These tops are being mostly consumed by crossbred spinners in producing thick yarns for the Continent, and the trade is fairly good in them. Consumption all round*is still maintained at the maximum, and there are plenty of particulars coming to hand which fully take off what spinners are producing. Mohair shows practically no change, prices being firm, with machinery all going. Taking things in their entirety there is not much to grumble at, business'being healthy in all departments.