LONDON WOOL SALES.

Gisborne Times, Volume XXVIII, Issue 2763, 18 March 1910, Page 2

LONDON WOOL SALES.

PRICES THE TURN DEARER, (From Our Special Correspondent.) LONDON, Feb. 4. The first- series of Colonial wooi sales are just on the point of expiring, buyers to-day putting in their last appearance until next March Btli. This lias been a fairly long series, but on the whole it has been an enjoyable cue. The weather has been a bit rough, but it is mid-winter, and anything can prevail here in England from November to the end of February. However, the light on the whole has been decent, that being about the best asset, next to a thumping good trade, which wool buyers can have. It is quite true the sales are finishing in a splendid way, although to South Australian woolgrowers things might have been a shade better. The missing link of the whole series has undoubtedly been an absence of American competition, and a good many clips liave suffered financially in consequence. 'One never knows what United States buyers are going to do. J t is bard to say whether their buyers have supplied all their wants in Australia, or whether the bulk of the American trade is running on crossbreds and not merinos. I heard one of their buyers say that at the moment they only want crossbreds from 40’s to 50’s quality, fine merinos being somewhat slew in demand both in yarns and piece goods. I strongly incline to think the real cause of their absent competition is that they have covered all their requirements for the next few months in Australia, and they are going to wait and see if they can do any better later on in Louden when they have landed and consumed the wool bought in the Colonies. PRICES' CONTINUE VERY FIRM

Throughout the week each day’s sittings have been characterised by con tinned large attendance, all branches of the trade being well represented. Taking tilings as a whole the situation is very sound and healthy. It must be said that the way the catalogues have been cleared is indeed creditable, and the prices paid are also satisfactory. Wool cannot be called extravagantly dear.al though prices arc fairly high, yet tile raw material is not beyond' the point where- it can be turned to good account by the various branches of the trade. Frequently have comments been made at the extensive operations of the Continent, and no doubt many people have been covering contracts without anticipating any cheaper wool. When all things fU'u taken into consideration there must exist some large contracts which can only be supplied by bur weights of the raw material. The daily withdrawals have been fewer this week than during the two previous weeks, and instead ol selling brokers oftentimes experiencing -Jd less bid for a few lots of wool, they have been able to realise their full values. Several lots that were taken in the first week have been _ re-ottered and realised the J-d extra which brokers were wanting. What continues to sell the be-St are undoubtedly the well grown, fine combing merinos, anything at all short of quality still making no more than the best oblast week’s rates. All fine clips from New South Wales, Queensland and Victoria have gone oil splendidly, and this last few nights oven shaftv Adelaides have done _ a shade better, while West Australian wools have also done splendidly, the home trade supporting the latter right through’ the series in a most remarkable way. Swan River grease has been very largely offered, and considering tlm earthy nature of many of the clips, they have done splendidly. Scoured* i have also fared better, and here too full sales’ prices are now being paid. Russia having come into the market. INCREASED COMPETITION FOR CROSSBREDS.

The way crossbreds are selling is very satisfactory, and here American competition lias been a very valuable lactor. The. condition of the New Zealand clip this season v as forced tc■bring out the best buying power of the whole trade, and United States operators have taken large quantities ot 40’s to 50’s wool. The show of -Sew Zealand produce is indeed a splendid one, and both the heme and American trades are appreciating it very finely indeed. What undoubtedly is making the .best price is 40's to oO’s produce, and hero all sections pf the trade are operating. The incoming oi the American section for 40’s to 44’s wools is rather an innovation, and this has put Yorksliircmen on their metal. it is still possible to buy a good average 40 s prepared top in Bradford at loti, bill >ve arc certain they cannot be made out of London-bought wool at anything like the price. America has been more disposed this week to pay fractional advances than during the first ton days of the scries. Here and there 'ney nave failed to follow up a few good lines of half-breds, but more lots have been taken in the region of IT cl to. IG.Vd than obtained during the opening week. After all, good crossbred wool at anything over 13d cannot be grumbled at, and the better prices which seemed to ■obtain towards the end of last week have been well maintained. The tew lines of ‘‘new clip’’ wools from Punt a Arenas have also sold at id to Id m me than last series, and for these there is to-clay an exceedingly keen demand at the hands of both the Heme, Continental, and American trades. Crossbreds in every quality are doing splendidly. HIGH PRICES FOR LAMBS. Quite a feature of this series is the high prices for good lambs, noth meo 10 and crossbreds, whether grease or scoured. For specialities to ney pi ice* have been forthcoming, and the figures realised clearly show that tip-top parcels command high rates. For instance, West Victorian lambs as usual have sold the best, and b-uyers know full well that we shall see no more oi these until next January, when Australia’s; new clip becomes available, i no Lamgi Willi 'warm water washed lambs have made the handsome price of 4s Oid per lb ; Ercildoune lambs, 4; I El) super lambs, 2 s 4d [or greasy; V B over Trawaila, Is Sid; 8. Wilson over Mount Bute 2s; Wilson over Alt. Emu. 1$ bcl; JAI over M over Moranghurk, Is did:

while the first lambs (grease), marked EO, sold at 2s Id, Is Od, and Is 6d, ■prices which certainly are a treat. 'lhero is no doubt that for months back nice, fine, clean lambs have been a scarce commodity, and they have been about the dearest article on the market. We rather incline to think there is a prospect of a few more being available during the next six months; in fact, it will be a thousand pities if they are not.. Big, broad-haired Adelaide lambs don’t make the price that either Victorian, New South Wales, or Queensland lambs do, ail because they are not as fine as the principal users require. When it is remembered that lambs are mostly consumed in the fine hosiery trade, for flannels, and i'6r fine spinning in the woolen trade, the reader will see that quality is a very important essential. Tncn again, the cheaper and more free from shiv, burr, and seed, the more useful they are. Nobody likes to carbonise lambs, simply •because it at once partially destroys both the color and handle, while it also to some extent diminishes the finishing property. Lambs’ wool is to-day a very valuable article, and always will be.

AT BRADFORD CONDITIONS’ QI'IET. BUT PRICES STEAD T. Business cannot be called anything but quiet so far as Bradford is concerned, and on the whole prices are steady. The change is considerable when one contrasts Coleman Street with Worstedopolis, and on the surface it seems a little strange that wcol should be selling so strongly in London, and Bradford so quiet and unresponsive. To be very candid, one can buy either merino or crossbred tops at exactly the same price they could before the sales began, and Bradford is still the cheapest market in ali the world. The most satisfactory aspect cf the trade continues to be the free way spinners are taking in supplies, and there is here as great activity as ever. The market seems now to be pas-iug through, one of those periods of quietness which is but natural after a spurt of buying, and it is verv strange that any importance should be attached to the slowing down that is everywhere seen. It only needs a moment’s thought for any man to see that users cannot be always operating, and as the majority have now fixed up contracts which will see them busy for some months to come, they arc disposed to await developments and see how things are going to shape. Wool is pouring into the market in considerable quantities, and for the next three months direct arrivals will be heavy; vet in view of the large sales of tops and yarns we do not anticipate any serious set-back, although some are Imping that the heavy arrivals, will cause a slight ease. We rather incline to think that many large users are playing that game for all they are worth, and they are hoping by abstention from buying to see prices somewhat affected. However, the way wool is going in London shows conclusively the actual position of the top maker and manufacturer, and the free absorp. vim of supplies is telling its own tale. Vo strongly incline to think the former have sold forward larger quantities of top., than is generally supposed, and that all.the wool they can pick up will be wanted to carry out their engagements. Merinos aro steady, but they are not making more money than recently. The same can be said for crossbreds. It has to be a very superior 40's prepared to fetch more than 15-jd, and plenty say they can buy at less. Several are doing their best to talk things down, and generally speaking there is not a great deal doing in either -40's, -Id’s, or 50’s. Spinners arc all very busy, and “particulars’’ are coming to haiul freely. Mohair shows no change, the business doing being .hand to mouth, though .prices are steady all round.