LONDON WOOL SALES.

Dominion, Volume 1, Issue 151, 20 March 1908, Page 10

LONDON WOOL SALES.

SOME BIG PRICES FOR MERINOS. HOW CROSSBREDS HAVE FALLEN. (FROM OUR Sl-ECUL CORRESPONDENT.} London, February 7. As I write this the first dories of coloninl wool' sales are finishing, end on tho whole things have gone' pi-etty much as was expected. Considering that a larger quantity has been 'available*' than for many years back, prices have been maintained at a level fnlly in advance of those ruling in consuming Centres, and in Bradford especially the courso of events in Coleman Street has been better than canditions there warrant. The pity is that Germany and America have not befin in better buying form, and so veil more impetus to evsry quality. At the same time the purchases made by Germany have'bVoaderied dur-' ing the past two weeks, and in the aggregate the takings on export account r.ro fully up to expectttions when cognisancs. is taken of the heavy purchases at selling centres in Australia. The best judges seem tj think that the worst is passed in regard to Germany being able 'to lift its season's imports, and the cheaper wool obtained in Coleman Street, should help materially to "average" the dearer wools purchased abroad." The few speculators will have to faco a sensible loss of something like per bale, but in .the majority of cases tho losses will bo more evenly distributed between the importer, spinner, and manufacturer.

EXCELLENT DEMAND FOR MERINOS, ; Without doubt the leading feature of the series lins been the steady, consistent demand for merino, wools. It was plainly to ;be seen at the opening that tlio trade rwas in a buying ;mond for this-class of produce, and light through the series the demand has increased both in'force and volume for the best combing descriptions.- Complaints are almost universal at the -shortness of the staple of the current Australian clip; good, long, shafty cunbing wools being somewhat scarce. Anything at all decent in character 'has' sold well, the choicest, parcels frequently making id. more than last series. At the same time tho bulk of fhe merinos have sold only on a par with the closing rates of last series, and yet this is a wonderful accomplishment when full cognisance is taken of the courso of events, during the , past " two months.,- To find the' trade in a good buying mood; and willing to pay prices fully equal to last series is something to be grateful for. Tho demand clearly shows what the trade wants when tho best wools have sold at par to 5 per cent, advance, all faulty sorts, owing- to an excessive quantity, showing a decline of Jd. to Id. per lb. All theso wools cannot be used without being.carbonised, and with tlic woollen trade, which absorbs the bulk of theso'short, clothing faulty wools, being quieter, its effect, has been seen in the decline. General expectations liavo hardly been fulfilled in regard to America, but this is not to be Wondered at when it is remembered that many mills across the Atlantic are only running short time. While looking back iit tho corresponding series a year ago, I have been very much surprised to find little difference iii the values realised for , the best lots of merino, for after the serious dccllrio towards the end of last year one would have expected to have seen, sensibly lower prices made. The following' facts will speak..for themselves, where I show the January prices made a; year • ago . and again this series for the saino' clip and description of wool

,THE FALL IN CEOSSBEEDS. The fnll in is to be regretted, but it seems inevitable, i During tlie opening week every gnado of crossbred sold freely, duo to topmakers arid spinners covering urgent needs,, but directly contracts were partly filled air easier tendency set in,' which shows that'i .medium and coarse qualities v are down a good :Jd.' p6r lb. ! When to-day's . prices .aro contrasted with those ruling at the corresponding series a year ago the' fnll : is a marked one, as the following will show' V'\ WD.

THE OUTLOOK. „. : The future can bo regarded with feelings of confidence respecting fine wools, but prospects are not at all bright for medium and'coarse crossbreds. Dalgety's cable this week from Australia announcing a decrease of 70,000 bales in tho expbrts for tho first seven months of the wool year compared with last season does not look like any surplus such as'somb have predicted, and 1 must say that I favour today's prices being fully maintained for merinos. Consumption is well kept up in fine wools, and. with easier money rates imports should bo lifted. without any forced realisations. Once get these financed, and then there cannot be much fear in regard to nVoriiios, falling. Crossbreds are the dark horse, and users are certainly "trimming" for all'they are worth ,to, get the bulk .of th 6 New Zealand offerings in March at. a still lower figure. There aro plenty of "futuro" sales' still to cover on the,-basis of 12d. to 12Jd. for a goqd 40's ; prepared top, : and' wool will still have to come down a further 5 per cent, if sellers are to'get out without loss. What is here wanted is a larger American and Continental demand'to. frustrato the plans' of the mere gambler in wool. "

CKOSSBEEDS WEAK. . Bradford at present is under a cloud, and without doubt there is littlo to inspire. The market seems to have gone once more: all to pieces in its crossbred department,'for prices are weak and falling. London has failed completely to inspire holders with the hope of any possibility of any amends, and led bj an active "bear" party, wool bids fair to be lower before higher. It is a thousand pities that Coleman Street has not kept lip the levol, established during tho opening week, but tho fall lias already, been more than discounted, and everything can bo bought on a cheaper basis, at least all qualities below 50's. The fact of the matter is nobody seems to want anything, and spinners feeling the pulse of the market are refraining from buying entirely. Most topmakers aro 'quoting 13d. for a standard prepared 40's, but there is no telling what bid would effect a sale. Already users are looking forward to still largor supplies with tho certainty that lower.• values are in store, and they nre not going to buy with the present temper of the market like it is. They are rather looking for forced sales to see some, very low prices accepted, and it is generally expected that wo shall see a shilling taken for a good 40's top. The. spinning end of the trade might present more favourable features, aiid particulars arc not coming to hand as freely-as they might be. Some fair lines . of second-hand yarns are being hawked, at.

less price than what spinnors will accept, and so long as this obtains no improvement can be oxpectcd. Notwithstanding easier rates in Coleman Street, • Bradford is still a good Jdbelow piices there, and :yot no business is offering. Evidently there are users determined to get wool to fit tho low contracts which aro still to execute, and tho raw material will hnvo to come down another 5 per cent, before some can get out. Tho demand from abroad is .considerably less, and this is exerting a very depressing ■ influence upon Bradford export yarn • houses. Merinos continue steady and firm. At the same time there is not a great deal.of fresh business offering, and still topmakers will accept no less money. .Machinery continues to be' fully occupied, and deliveries are still being freely made. I cannot hear tell of any less prices being accepted, and woolcombers are exceedingly busy making deliveries with all possible speed. Mohair continues extremely quiet, and prices aire still tending downwards, especially in Capo firsts^

S. WILSON over MOUNTBUTE. ■ , ' ■' January, January, • .'1907.. ■ 1908. .. : ■■ ■ d. d. Grease extra sup'.'comb. hgts. .18 18 Grease, extra 1 sup.' comb, ewes' . 17J ',;17J : Grease 1st comb.'Kfjts "... 15 . 10.; Grease. sup/" do; 'B,' .17 'lfi" _ • Gieaso pieces H;:.. ' ... ' ... 1 .13 ' . 11 Grease sup., lambs. ... ... 1!)}." • :181' Grease 1st Iambi 13J '14} ,S. WILSON over ERCILDOUNB.' Washed super coriib. E. ... 28 ,30 Washed super comb.; W. ... 28 271 Washed 1st'combing'... .... 27} , . 29|i--Washed broken ' ' 23 i .,., 24i; .Washed pietfes.... ... 22 '., . 22" Washed "bellies:... ■ ... 20} 21} Washed 1 locks ■;... 11 . '18 1 : GOONOO;, GOOtfOO over PRLMICo. . Grease tuper comb. 15} 15 Grease 1st comb. ... 15 14} ■ . Grease 2nd comb. '. •'••'•IS} 12} Grease broken ... 12} 11 Greasa bellies ' ... ... ... 9} 8} Grease skirts -' ... !... ' ... 10} '8}

January, January, ■ . ! " 1907: " 1908. ■ ; d. ... Greasy 'J-brod. '... ..; " ... 16Jj :. .14 ' '. super crsbd. 'hgts. 15 • 13J > „ 1st cisbd. hgts 14',, .. 12 „ crsbd. pieces ... ...' 11 10J' ' ' TAUTAXE. ' •,» -,B. crsbd. ...' llj 10J „ C. crsbl. ... ...'.,14. 9 „ D. crsbd. 13 8J ,' . „ 1st crsbd. pieces ... 10 8 „ 2nd. crsbd. pieces ... 9. Gi * 1st. crsbd. Iambs' . ... . 12 8j • .; 2nd crsbd. lambs ... 10 - 7 . ' OLRIG. „ 1st crsbd. H llf 12J . ' „ 2nd crsbd 13? .12 , „ -,3rd crsbd • 12$ • 101 ' 4th crsbd. H. ... ... , 12. . - 10 , „ 1st crsbd. pieces IT lO.j 1\. . , CROOK ANDBUNDLE.' ' ■ ■ „. super 1st 5-bd. comb. H. 1GJ 'HI „ 1st i-bd. comb. H. ...' 1G ■ 13 . „ 1st i-bd.. comb. R. '... .ijj| , nj , „ i-bd. comb. hgts. 131. 12 „' 1st |-bd. comb. H. ... 15j 11J „ superfine crsbd. comb. hgts. ... ... ... 14- -91 ■, „ 1st j-bd. comb. H. 14 9J . •„ 1st |-bd. comb. H. ... 13J 9| • '1st Lincoln, hgts -12 t -9 1st fiuo crsbd. pieces... 13 >!•'. ,11 fino crsbd. ■ bellies " 8 ■