LONDON WOOL SALES.

Gisborne Times, Volume XXIX, Issue 3315, 6 September 1911, Page 8

LONDON WOOL SALES.

CLOSING RESULTS OF THE FOURTH SERIES.

i'FnOM OUB OWN OOEBESPONDENT.J

LONDON, July 28. Since writing last .the London- sales have com© to a finish,,, and buyers are away to their respective centres. lam open to admit that although the series have been somewhat “spotty,” yet they have passed of better .'than generally expected, a keen demand for good shafty combing avools assrting itself after the first Aveek. This really is the leading feature of the sues, and demonstrates the fact that the raAv materia still occupies a sound position. All straight lots of combing grease have been very acceptabe. and proved easy of sale, and I wish the same could.be said for scoureds and slipes. No doubt the. extreme cheapness of noils is largely responsible for fauty scoureds going as they have. If Colonial pastoralists and scourers will permit a AA'ord of advice I would say spend a little more ..time in sorting faulty wools. I know hand labor is dear in the Colonies-, but it seems to me as if it Avould pay to separate the avools that will scour a good Ayhite from those that are discolored and very burry. During the long vacation I will try to give the reason Avliy the trade appreciates color in wool, and then readers Avill see the force of my remarks. The Australian clip is .uoav assuming such large proportions that naturally there is a_ corresponding increase in faulty descriptions, and this season scouring has been largely resorted to. at many centres throughout Australia and Ncav Zealand. The trade does not object to scoured avols, in fact some peole prefer them, but it is the surfeit of these which has been largely responsible for the penny decline which has taken place in many descriptions. The quiet conditions in both France, Belgium, and Germany have also been responsible to a large extent for the lessened call for this class of staple, while home users are pretty full of carbonising sorts oAving to large purchases which Avere made in Melbourne and oydney from last December to the end of February. All this has meant less eagerness on tlie part of users to operate, prices consequently suffering. CROSSBREDS FINISH FIRM. The AAOols of NeAA r Zealand, Punta Arenas, and the Falkland Islands have done better#than looked likely at the beginnig, and I am glad that this is so. Some big quantities have, been submitted, and at the finish prices got back to about the close of May. In other words, they recovered id during the last seven- days of the series. I only hope Bradford topmakers have been able to pick up wool which • they can turn to profit during the forthcoming interval. Some fair quantities of 40’s are to deliver at 14d, and although an average prepared top of that quality can he bought at I3Jd, still I think they can be made at that price. Bradford topmakers liaA r e a unique Avay of putting wol together, and Avith the aid of slipes and skin avools they can produce a top at a reasonable price, and if to-day’s values can be maintained -and business done, I do not think any party Avill lose money. SomehoAV there is little talk at present of any advance in values, and trade will have to be done on a. considerable scale to see prices move upAA'ards. We call every description of crossbred avool at the. finish on a full parity with wbat obtained at the close of the third series. Scoured crossbreds liaA’e been the Aveakest article of the Avliole series, the decline being 10 per cent., or Id to ltd per lb. This is rather unfortunate for Ave have frequently seen these wools sell even correspondingly -better than greasy descriptions, and why they have failed to go off at former rates is hard to explain. The decline will not be a. pleasant experience to many, but there are times in the history of the trade when these setbacks come, and the best has to be made of them.

Sliped crosbreds have been largely catalogued, and slightly improved their position during the closing AA'eek, but al lthe same most descriptions are still under May rates, particularly medium qualities. Good i-bred lambs have seldom sol dup to 16d as Avas the case in January, March, and May, values being more frequently 14id. to 15id for really good parcels. As already said medium descriptions have likewise failed to. realise May rates, and even coarse descriptions have shared in the decline to the extent of id. Here blanket manufacturers have had the opportunity of securing some useful lines at a handy price, and they have need for it.

CHANGES SEEN. The following are the changes seen when compared with the close of the May series: Grease merino, superior,. £d dearer; grease merino, average to good, unchanged; grease merino, poor condition, par to £d cheaper; grease merino, inferior pockets and locks, £d to id cheaper. Scoured merino, superior, par to id dearer; scoured merino, average to good, id chehper; scoured merino, inferior, id cheaper; scoured merino, faulty pockets and locks, id cheaper. Greasy merino, lambs superior, par; greasy merino, lambs, medium, par; greasy merino, lambs, inferior, par to id cheaper; greasy crossbreds, fine, unchanged; greasy crossbreds, medium, par to id cheaper; greasy crossbreds, coarse, superior, unchanged; greasy crossbreds, coarse, ordinary, unchanged; greasy crossbreds, lambs, par to id cheaper; Scoured crossbreds, fine, Id to lid cheaper; scoured crossbreds, medium., Id cheaper; scoured crossbreds, coarse. Id cheaper. Sliped crossbreds, fine, id cheaper-; sliped crossbreds, medium, Id cheaper; sliped crossbreds, coarse, id cheaper. SOUTH AFRICAN WOOLS. Grease combing, light, par to id cheaper ; grease combing, heavy and wasty, id to id cheaper; grease clothing, light, par to id cheaper; grease combing, clothing, heavy and wasty id cheaper. Snow white, superior, id cheaper; snow white, medium, id cheaper; snow white, faulty, id cheaper. THE OUTLOOK. Mesrs H. Dawson and Co. in speaking of the outlook say : “The sales have had a much more satisfactory result than had been expected, and cannot fail to strengthen the position of .values throughout the trade. Prospects did not look bright , prior to the opening of the sales. Labor troubles within the industry and in shipping circles, together with a slackening of demand for the manufactured article, had shakenconfidence and a general apprehensiveness prevailed lest the period of prosperity might be coming to an end. When the series had, however, got well under way, although ther ewas a noticeable absence of speculation, the solid steady demand of the trade was revealed. and proved sufficient to maintain values in most sorts. ' The American demand was disappointing, although there was a good representation of buy-

ers, and it is evident that Ave must still Avait longer, for substantial U.S.A. support. The prospects for the new season are very difficult to determine, in fact, there is less guidanoe to be obtained than usual from the manufacturing end of the industry. In merinos, this year’s basis of values is of, coarse settled; the supplies of fine A\ r ools are so limited that good prices are practically assured; but for the. next season there is uncertainty, and less confidence than for some years past. This is due partly to the fact that a -large clip is expected, and also to the disappointing trade in Avorsteds during the last tAvo or three months. On the brighter side, one might point out that the world’s reputation grows in numbers and wealth, and the demand for worsted goods is, therefore, not likely to seriously fall aAvya. Also it goes without -saying that America will 1 not always be so inaettoe as during the past year. There is noA\ r a long interval, Avhich Avill see a avholesome reduction of stocks, and in September’ av©’ may get a new and truer view of the position. In crossbreds, the holding over of nearly 30,000 hales of New Zealands has helped the market, and relieved the situation for those Avho had been affected- by the stoppage of the wool-comb-ing machines. In any case the carryover can do no harm. The wool, Avhich noAV arrives inconveniently early in the year, will all be av anted before the neAV clip comes in January and if, as the holders are hoping, there arises a stronger U.S.A. demand, .then so much the better for the oAvner . The position appears to be one which is marked by a quiet steady demand without the excitement and the extreme pressure of last year. Merinos occupy a very strong position from the standpoint of supply alone, Avliile crossbreds have shown remarkable strength both in London and at the English fail’s, despite recent- adverse factors. Altogether if we can be spared serious political and labor upheavals th eoutlook may be regarded as satisfactory, and price A'ariations will probably be kept Avithin narroAV limits during the next feAv months.’