LONDON WOOL SALES.

Gisborne Times, Volume XXIX, Issue 3216, 12 May 1911, Page 2

LONDON WOOL SALES.

FAVORABLE CONDITIONS OB-

TAININC.

THE IMPROVEMENT WELL

MAINTAINED

Pa on our Special correspondent.] LONDON, March 31.

The past week lias again been characterised by an excellent enquiry, and the series are being continued undei most favourable conditions. There certainly is a good deal over which to rejoice, and nothing to give rise to any feelings of depression. Everything is selling cut of hand remarkably well, and the improvement hitherto- noticed remains' strongly in evidence. After all, it is remarkable- how the wool is moving, land considering this is the third week of the series 5 the attendance is well 'maintained, while the catalogues contain each day a good selection of the raw material. It certainly is wonderful how the buying power is being sustained, but everybody recognises that it would be a calamity if there was any setback in prices or even a check in the demand. The whole industry seems to realise the importance of the situation, and both the Continent and the Home trade is vigorously maintaining a buying attitude. - The only disappointing factor in connection with the current series is the exceedingly poor demand on American account; in fact, for once the United States element is almost- entirely absent, and their purchases this series will be sensibly less than in January. We certainly thought that this series they would be in the market for a. liberal quantity of wool, but the recent liquidation of dearly bought stocks in the early part of 1910, shows distinctly the depressed condition of the textile industry across the Atlantic. .No doubt a few have bought knowing that the wools meet suitable for their requirements will not be available again until next year. We certainly think that there will have to be a settlement of the present agitation over schedule K before the American market shows signs of expansion. Everything from that quarter is distinctly disappointing, hut on -Home and Continental account there is much to encourage and inspire hope for the future.

MERINOS SELLING REMARKABLY

WELL,

The selection this week of merinos has hardly been- of that high- standard that we saw during the second week, the catalogues containing more miscellaneous ivools. Still for all that there is an undiminished demand for anything of decent combing length, and instead! of there being a weakening as many expected, the very opposite has been seen. We don’t- say that price have advanced any further, put things are no cheaper, and without doubt there is still a freedon about t he movement of the raw material which to say the least is commendable. The Home trade is yet taking the lion’s share-, though France and! Germany is giving excellent support. Fine-haired descriptions are making the most money, and selling the best, while the shafty descriptions from West Australia are- still being devoured 1 by the Bradford contingent. After all his State is turning out wools on a larger scale than ever,-, and most of the clips are well-grown, bsound and shafty, though there is room' for improvement in, the get-up of many of them-. West Australian lambs are in particularly strong demand- by flannel manufacturers, in fact the trade is hungry for this class of staple. It does seem a pity that more -lambs are not shorn, but wool growers no doubt know their own business the best. It is to be -sincerely hoped that the burr plant will never spread l -to West Australia, for being free from that cxirse- -helps their sale wonderfully. Scoured merinos are faring distinctly better than- last series, and good combing wools must he called a penny dearer. We cannot see shabby carbonising parcels being quotably higher than last series, hut the demand for scoured wools in general has certainly improved 1 . Taking tilings altogether merinos must be described as more healthy } and occupying an excellent position. CROSSBREDS. SELLING WELL. Every d'ay is seeing catalogued a large- quantity of crossbreds, and these are certainly selling freely. America is givng a little support for the lightest conditioned parcels, hut their takings

are a mere bagatelle. Bradford topmakers are giving the most support, and prices are distinctly firm, on last week’s basis. Fine I—b-rods are easily making a 'full penny more than last series medium sorts * are really not quotably dearer than they were in January, though coarse descriptions must be called about 5 per cent up. With the sales closing next. Saturday there is every prospect of about 30,000 bales being carried forward l to the May sales, bulb that need alarm nobody. What certainly is the most satisfactory item of the wlio-le series is. -the free way crossbredsi have moved. Business is undoubtedly sound, otherwise users would never have absorbed the big quantities which have been daily catalogued. Slipe crossbreds ha.v-e also sold uncommonly well, and these too. must lx? called about id more than in March. Really speaking the free way crossbreds have sold is the surprise, of the entire series, and it is nowi certain that there is going to be. a firm finish. Below we show what leading crossbred clips made last sales and again this series, thus helping the reader to form some i e liable opinion as to the- actual standing of this class of staple, the price of last series being mentioned first in each instance : MOKOPEKA. Grease—Fine i-bredi combing, 13d; 14-kl. Half-bred: combing, Hid - ; 12d. Fine, crossbred combing, lOid; 101 d. Crossbred combing, 9d; lOd. Three-quarter-bred combing, 9d; lOd. Crossbred pieces, 9d; 9}d. iCirosshred- bellies, Sd; 7id-. BEE OR. FLY. Grease —A fine crossbred, 11 £d ; 12d. A fine crossbred, 11-kl; llid 1 . B crossbred, 101-; lid. E Crossbred, 9jd> 9 id. C crossbred, 9|d!; 91d. D crossbred, 91; 9d. First crossbred pieces, 9d; 9d. Second crossbred pirces, 73d; 7d. First crossbred lambs, 101 d; 12d. Second 1 crossbred 1 lambs, 9kl; lOd. D—). Grease A 4-bred combing, llid; 14-kb B i-bredi combing, 10id; 12d. A - bred combing, 10d; 101 d. B 3-bred combing, 9id; 9id. O crossbred combing, 8d; Bid. A Lincoln combing, 9d; 9d. B Lincoln combing, Bid; Bid. First crossbred pieces, 73d; 8-jd. CONDITIONS IN BRADFORD. There certainly is some improvement at this centre, and although there is perhaps not that buoyancy which one sees in Coleman street, still on .the whole the market is better. The way things have gone in London has certainly done a great deal to inspire hope in the future, and more business has been doing both in wool, tope and yarns. The outstanding feature of the week has been the naming of higher pa-ices for tops, and although spinners are not readily acceding to what is being asked, still topmakers are making a more money. Most users are well off for the next three months, and on that 1 account are taking little notice of any lower offers which they are receiving. Coleman street to-day warrants no man in accepting less than 26Jd for an average 64’s top, but this price cannot yet be made freely. Some are asking Id more, while several parties are altogether out of the market, due as we have already said to their being sold for war cb There is a fair amount of new business doing, and everything is most healthy. There seems to be a disposition here to hardly go- at the rate of London, due no doubt to the large direct arrivals which are pouring into this district. One very satisfactory feature is the free way the raw material is moving towards the manu-fact-uring end of the trade. Many firms are short of wool sorters, which is a most healthy sign. Commission woolcombers are being hard pushed, and although running day and night, yet they are- unable to- fully meet all the wishes of their customers. So long as machinery can be kept going at the maximum, there is little fear over the future. Merinos undoubtedly occupy a unique position, for fashions still favor fine soft fabrics. Crossbreds are also selling better than they did. Fine qualities are in good demand, and more money can be made. Many enquiries have com - to hand during the- past week from the Continent for carded tops, and although the offers made are perhaps less than, many would like to see, still 1 there is trade to be done, and topmakers here are confident that many of these will mature into- actual orders. Strong crossbreds arc selling somewhat better, but it has to be a very good 40’a prepared top to com-, mand more than 13£d. Some very nice sales of English wool have- taken place during the week. All- strong wethers are very scarce, and will be till clip time.