YORKSHIRE WOOL SALES.

Gisborne Times, Volume XXXIII, Issue 3673, 7 November 1912, Page 6

YORKSHIRE WOOL SALES.

another satisfactory OPENING. [PROM OUR OWN CORRESPONDENT] LONDON, Sept. 27. Once more the eyes of the wool trade **-e turned towards Coleman street where the September series began last. Tuesday The position of things is to•"so interesting that it is as well that this big event takes place periodically ~nd the trade is given to see where the >*iiv material actually stands. It IS> certainlv surprising to find everything so healthv and sound, a clear proof that iho text'll trade- occupies to-day a reij v ’*•:ii >-.* position. When one thinks of 1 the adverse factors which have had to be reckoned with this year, the more than usuallv strong position which the row material occupies is clear proof i-hat business is certainly good, and well the average. The condition ot things to-day is just tlie opposite fiorn v : hat it was at the corresponding date a v 47 ago. The opening of the beptem-ber-October series in 1911 with a slight setback m values, but to- ,*• wevervthing indicates a further movement forward! Probably the majority •would have welcomed a slight ease at fhe present time, but stocks are so limRed, 11 trade so good, and consumption so Urge. that wool is in a very unique position, and instead of there being any Evidence of weakness, everytmng is n o - Pm in the opposite direction. . -ft is „nlte true that the raw material does not. spoil with keeping, yet although values are high, they are willing to but as freelv as ever. The trade came together on Tuesday with evident confidence. the opening sale passing on remarkably well.

A GOOD INTERVAL. Regular readers of this letter hate been° kept apprised of what wms going -•i in consuming centres. there been no soft spot anywhere, the vacation being characterised bv a big busi>.fss lioth in wool, tops and yarns. It irsorne years ago since August and September have been marked with such, •pronounced strength, all due to the active demand for the raw material, and the extensive inquiry witnessed. IRe incoming of America has to a large extent revolutionised the standing ot the raw' material, and it is sate to say that if there had not been a continuance ot operations on the part ot United States Slivers, wool would not be figuring so conspicuously to-day. However, there has been a very active enquiry, continuous large sales have been made both on homo and export account, and the doors ,>f Coleman Street Wool Exchange were opened with everything in sellers iav£,r. Users of both tops and yarns as ~ rule at this time of the year adopt a policy of going strictly from hand to mouth, with a view to ultimately afiectiag the selling centres in Australia but conditions this year have been such as io prevent the ieast possibility of anyone holding off. Trade has been so <mod as to compel topmakers and spinners as well as manufacturers to largely anticipate the future, and knowing that thev had nothing to lose by operating, a big forward business has been done! Below we show where prices stood for the combed article at the close of the third series, and what were quotations last Tuesday for good average standard tops on the Bradford market:

QUANTITIES AVAILABLE. The question of arrivals is one of great interest, for by tlie wool coming to hand it can always he seen whether the trade is well supplied with the raw material. As a rule the September series sees the end of the last Australian clip, but this year there will be a fair supply of Queensland new clip, which will help to "salt” the somewhat heavy quantities of carbonising wools which are certain to he catalogued. The amount to hand this series is larger than usual, although in 1908, owing to large quantities being carried forward at the close r,f each series, the supply exceeded that of to-day. Still, with manufacturing conditions being fairly healthy; there rdiould be no difficulty in moving the M 3,000 hales available. A GOOD START. Tlie opening sale on Tuesday must be regarded as very satisfactory, no. matter from what standpoint it is viewed. The catalogues were very miscellaneous, there hardly being a straight clip of merino wool submitted. The bulk of rae offerings consisted of sliped New Zealand crossbreds, and full justice was done to them. Practically all the wools were suitable tor the home .trade, although a few lots of scoured Queensland merinos went to trie Continent. From the start, competition was very keen, there being no holding hack whatever in the bidding. When compared with the clos. nf the previous series, merinos showed an improvement of par to id on the best classes, hut on faulty wools there was no advance whatever. For the greasy crossbreds, the call was exceedingly good, fine greasy parcels being par to kl; medium id. and coarse descriptions a good id higher. There is no doubt that the rise was the most marked in the latter, and while the bulk of the wools were -id more, they were elightly heavier in condition. Fine lialf'hred iambs . - re no dearer, but medium qualities were mostly hi per lb more •money, while coarse Lincoln classes often "sold id to Id higher._Punta Arenas sold similarly to the New Zealand greasy crossbreds"; and were mostly -id better.

Since the opening, tho selection has sensibly improved, and the advance has been fully "maintained. There is a very encouraging feeling among buyers, although it. "significant that nobody seems disposed to the pace. The way slipes sold surprised a few, but . here is no doubt that this class of wool is wanted, and it is benefiting, as result of English skin wool being advanced.

THE OUTLOOK. Messrs 11. Dawson and Co. In speaking of the future make the following observations • "The general situation at this period ox the year always assumes greater importance than at most other periods, Iv.-vnuse it affects vitally the .new season’s business and helps mater-

billy to determine the level of values for "a new season's trade. It is, however, difttcuH to say whether it is wise to gauge t';= future by the present situation. The position is almost too rosy. The wools ::y liable for the consumer are not large, and values perhaps are in danger of being unduly appreciated by the strong demand for urgent needs which undone.tedly obtains. Trade reports are excellent from all centres, and the ver b supplies are practically all gone into consumption, which is the factor that always counts in the ultimate reeironing.. Perhaps the most remarkable fact of the past decade has been the easy and complete absorption of * the. re-'-ord clips of tho last .two or three year--, and this year the markets prpmi.se to bo still more hungry for the 3cew season's supplies. The home trade continues, to on joy a wonderful run of good business, and a large turnover, while from the Continental centres there are reports of steady, healthy trade without any boom, although an increasing optimism as regards future business is noticeable during the past few

weeks. The United States markets are also distinctly cheerful despite the fact that it is the Presidential-election year, and that the election is a vital one for the wool interests. As a matter ot tact, all the old theories of bad business m election years and the fears of the pessimists have been up-set, and there is an undoubted revival of trade m the American woollen industry. The nervousness of tariff alterations which has pievailed during the past two years naturally led to such a serious curtailment of production that a very sound and healthv position has been created. the demand for goods appears to have got ahead of the supplies, and consequently the mills are busy and the domestic w'ools are being rapidly cleared from the market. "There are some important facts, however. to be taken into account in gaugin'-' the whole position. In the United States of America the alteration of the tariff appears to be a foregone conclusion and will involve some adjustments in values, although it seems as if in the present healthv state of business these might be made with the minimum of loss and inconvenience. In European markets it has to be remembered that merinos are already at a fairly high level of values. That level lias been supported bv the strong call for fine worsted fabrics for the East and by the favor shown to merinos in ladies’ dress fabrics. Such strong support may not always be maintained, although the season opens without signs of diminution. Fortunately a strong, calm tone, which is quite inimical to anything in the nature of a boom, controls the market, in fact, a resolute determination not to be carried oft one s feet by any speculative movements appears to be the prevailing mood. Consequently a sound, cautions poliev is being"happily pursued, despite the signs of good trade which are so abundant, and this is the best augu-'y f>r the season’s prospects and for ihe maintenance of a steady market.”

Sent 21. Sept 23. 1911. 1912. Description. d. d. 7f)’s Colonial tons 28 28 fit’s ” 27 ' 274 GO’s super 26 261 GO’s ” ord. 24125' 58’s average 23 ‘ 224 Ws ” average 20| 20 50’s ” 18 18 •IG’s ” carded 14:' 154 40’s ” prepared 13} 144 40’s ” carded 13 14