NOTES ON THE ENGLISH WOOL SALES.

Press, Volume XLVIII, Issue 7869, 21 May 1891, Page 2

NOTES ON THE ENGLISH WOOL SALES.

Leader Correspondent.

Un previous occasions reference has been made to tbe disastrous nature of the busiuess for 1890 done by some of the continental yarn spinning companies, and the publication of the actual figures of some of the large German houses/enables one to give same now. One company, which paid a 30 per cent, dividend for 1889, had to be content with the reduced, viit fairly good, dividend of 7 percent, for 1690* Another which made £40,000 net profit for 1889, and paid 15 per cent, dividend, actually lost £10,000 in IS9O. A third house, which paid 9 per cent, dividend in 1889, has paid none for 1890; while in the case of a fourth instance, instead of a profit of £25,000, with a nice dividend of 10 per cent, for 1889, the proprietors have to face a loss of £6,000 in the 1890 accounts, and so on. I only cite these to show wool growers that others are in a plight through the bad times of 1890 as well as themselves, though this may be cold comfort. 523 At the usual wool fair held in Bristol j this week values for English wool were | fairly maintained, though wool dealers complain that they cannot replace their stocks on the same terms which their customers will pay. Farmers are not willing sellers at current rates, and there is some talk of the small stocks not proving more than equal to trade requirements until clip time comes round again. This should be useful in keeping values of the large supply of colonial crossbred soon to be disposed of fairly steady, though it would be rather surprising to see them keep so high all through the summer, Australian growers of crossbred should now make a special note to send home for November sales, or at ail events to sell as soon after October as possible. There is nothing like taking time by the forelock, so it is mentioned thus early. The severe weather has done harm to English flocks. So far as regards Cape wool, which is now at a very moderate level of values, the same desire to know the probable supply does not obtain. Some really choke combing wool, light In grease, only fetched 8d and B_d _.er lb for twelve months' clips at recent sales, while short clothing of only six months' growth fetched in many instances only id per lb less, owing to its suitability for felting purposes. Some parcels of scoured wool from Cape Town sold at high prices, however, and it is clear that some of the Cape wool growers are fast reaching something like an Australian standard, probably owing to the use of imported Australian rams in recent years. , A large proportion of the earthy wool In grease sold at 7* per cent to 10 per cent below rates paid-in November sales 1890, which was a sore disappointment to shippers. i