LONDON WOOL SALES.

Gisborne Times, Volume XXXIII, Issue 3679, 14 November 1912, Page 6

LONDON WOOL SALES.

EXCELLENT DEMAND. AND PRICES HIGHER,

[FROM OUR OWN CORRESPONDENT] LONDON, Oct, 4. The sales are being continued under very satisfactory conditions and there can be no doubt as to the sound standing of the raw material. There is no i giving way- whatever in any class of wool ; in fact, if anything the tendency is in the opposite direction, particularly for combing merinos. BVhen all is said and done the activity displayed is clear evidence that users are still wanting wool, and however jx>or may have been the response in consuming markets, here in Coleman Street the situation is exceedingly sound, and the raw material is. selling' as freely as over. BYe think the catalogues give distinct evidence of the end of the last Australian clip, and we have also had a- fore-taste of what the coming clip is going to bs like. It is really surprising how the circle of events gradually revolves, and there is every indication that by the end. of the scries the boards will be swept clean. BYe certainly think owners will be wisely advised to clean up the last clip, and so get ready for handling the new arrivals. Judging from the cable imports there is every appearance of the coming Australian clip beed by buyers, while the staple in not hut strengthen the hands of those who now have the raw material to dispose of. Some importers are still confident that we have not yet seen the to {I of the market, but- we candidly state that it is far better to have a sound steady market and firm values than such a rise in. price as destroys confidence, and which is the fore-runner of a reaction. However, we are not fearing this at present, believing t.iat prices will continue to be well maintained to the finish, and that wool*will be taken off the market in as free and satisfactory a way as ever. FINE BYOOLS THE TURN .' DEARER.

1 Since writing last, the sales have i made splendid progress, and there is 1 no giving, way in the course of the i market. The fact is, values are all . against the buyer, and while some , frankly state that an out and out . advance of 5 per cent, can now be . recorded, others are content to sum - up the situation by asserting that . values are firm and in favor of the seller. BYe must admit that so far - as merinos a,re concerned, no “soft . spots” are discernible. Hero and i there one "finds a distinct advance being made upon wools taken in last July and offered this- week, and in- ’ stances could be given where a clis- ’ tinctly higher price has been paid. The selection this week lias only 1 been an average one. Almost every day we have had “new clip” merinos from Queensland, New South BB’ales, South Australia and West Australia, the former State supplying the most ' new wools. The clips appear to be ■ very irregular, and while some are ' fairly well ’grown, others show plainly that a very unsatisfactory time has been experienced. Several clips are . drought stricken, there is a hunger . fineness about, them* which is not liked by buyers, wliile the staple in ’ many cases is deficient in length. Still users have no alternative but to take them, and they will have to do t-lio best they can with them. BB’e are • afraid the faults seen in Queensland wools will l>e only too prevalent in the clips from the other States, and there is every likelihood of merinos showing length of staple and soundness, commanding big figures, all through the season. Considering the Queensland wools which have been catalogued this week, the prices paid cannot ibut be regarded as very satisfactory. Evidently there is a keen demand for quality; in fact, we think that demand is more persistent today than it has been at any time this year, fine Queensland clothing wools in several cases making over two shillings. There is this series a larger quantity of New Zealand scoured merinos than we have seen for some considerable time, and these are making excellent prices. These wools are commending themselves to all users of merinos, and if growers would cease using tar for marking their sheep, they would find even keener competition, particularly for the lower classes of staple. Nothing has impressed ns more than the excellent prices made for New Zealand sconreds; a rise of -Ad to Id can now be recorded, and the demand is still keen. BB’hen we come to deal with the shabbier classes of merinos, another advance is seen There is a scarcity of scoured carbonising pieces, bellies and locks, all of which are against the buyer to the extent of a good Id. It is quite true that these wools®are scarce, and this may ac- | count for the improved values which buyers are paying, but there is no class of merino wool that is not today commanding more money, and selling hotter. Business at the BB’ool | Exchange: is certainly good, and no fault whatever can_be found with the w r ay markets are moving. CROSSBREDS VERY FIRM. No extra quantity of greasy crossbreds is being submitted from New Zealand, a. large proportion of the offerings consisting of slipes and scourecls, the former being well represented. Let ns deal first of all with greasy descriptions. The demand is exceedingly strong, and if half-bred wools are making no more than last series, we certainly think- that both medium and coarse crossbreds are a full Id dearer; and coarse parcels often Id compared with the closing rates of last- series. The home trade is a, particularly keen buyer, and several firms appear as if they must have wool. No man can find faultwith the free, way crossbreds are moving, and it is certainly very satisfactory to find practically all sections ready buyers of this class, of staple. America is perhaps_not doing quite as much as many expected, but it must be borne in mind- that there is not the selection this series there was either in July or last. April. The bulk of the re-cased parcels have been sold, and what station clips are being catalogued have not in many cases been skirted as well as American buyers like them to, be. At the same , time, on all good-, light conditioned ' parcels from 30’s to 50\s, American I influence is still at work, and even if ) they are paying no more than they ‘ did last series, satisfactory figures arc ! being realised, it being no common f thing to see 13d paid for halfbreds, and up to 12d for medium crossbreds, Lincoln wools still fetching lOd to lid. These are prices which no man can find _ fault with, and seldom is a lot withdrawn.

As already .indicated the market is

firm for both sooureds and slipes. It will be remembered that the former sold uncommonly well last series, and/ this time they are fetching in many cases slightly more money. Both the Home and the Continental trades are - purchasing these -wools In a very creditable way. Practically speakiiig all descriptions of scoured crossbreds are at least Id better than last sales, and often even Id. The latter is the most in evidence in medium and coarse parcels, though 50’s to 56’s quality are mailing Ad advance on July rates. There is no more satisfactory feature in connection wdtli ' the sales than tlio free way in which the large supply of slipes is being absorbed. Good sliped half-bred lambs Lave sold this week up to Is sd; ij-bred lambs frequently made 15d; Leicester lambs 13-Ad, and Lincoln lambs, up to 12d. These are prices, clearly indicate an exceedingly satisfactory situation. All deep grown sliped parcels are mostly Id dearer than last series,' a clear proof of what is doing in . woollen manufacturing circles. Business - certainly is exceedingly good, and notwithstanding the large supplies, there is no ease whatever in any quarter. The week's business in Coleman Street has been excellent, and wool continues to sell at the highest point of the series! PRICES IN BRADFORD VERY SOUND.

There is really not a groat deal new to chronicle in connection with the Bradford trade. To a very large extent the influence of Coleman Street continues to dominate the market, and- while everything is firm and intact, there is yet little response to the. way wool is selling in London. With the raw material moving so freely, topmakers feel that they must insist upon having all they are asking, and if Bradford is still slightly below Coleman Street, there is abroad a feeling of indifference to the upward tendency of values in the latter centre. To bo. very candid., a largo number have sold all they care to, and being so well- contracted on forward account, are naturally preferring to lie low, and not force tlio pace. It is still difficult to make 2-s 3Ad for good 64’s although the best makers sy they have made this price. At the same time, it is far more easy te sell at a farthing less. The market wears a very cheerful face, and the tone remains strong. Everybody appears- to be very seriously impressed with the firmness of the raw material, and we must say that there is not that talk about “ohcap futures” we have heard during the past month. Blost topmakers are very much indisposed te sell forward at all, for they feel that with a prospect of lessened supplies from Australia, they are risking too much. Crossbreds are in a very sound position, and 14)d cannot be called an outside price for 40’s prepared tops. This is a common quotation, but all the same it has to be a very good article to command that price, spinners refusing -outright to follow in the wake of Coleman street. A -little more is reported doing in medium crossbreds, and even liaif-breds have sold somewhat better during the past week. This is rather unfortunate, but some firms have yet some fair quantities of 40’s to'so’s tops to deliver at a thick penny less than current quotations, and naturally these firms are very loathe to sell forward to-day. English wools continue to be firm and are selling in a fairly steady way. The market generally speaking is in a healthy state, and holders are very difficult to deal with. There is also a very strong demand for skin wools. Mohair is in a sound way even if there is not a great deal of new business passing. Spinners appear to be well off for work, but all the same they would welcome more particulars.