LONDON WOOL SALES.

Dominion, Volume 2, Issue 496, 1 May 1909, Page 15

LONDON WOOL SALES.

EXCELLENT DEMAND AT HARDENING PRICES. • ' (PEOM OUK SrECUL COEEESPOJTDENT.). I : London,: March 19, 1909. Tho second; series of sales continue to make excellent progress, and' since I last wrote a splendid time has been exporienced. Eaoh day has seen'brought; out a'good selection of wool,, and on all hands full attention,has been given to it. With the whole buying strength of the entire trade now being focussed upon London it would bo strange indeed if . some good times were not being experienced, and - with thero being a strong and confident-feeling over the future, a real good time is taking place. Buyers were_ never more willing to operate, and on all hands the, feeling is a very strong one that what is bought • to-day will be right. This means that prifces. aro again hardening, and 1 am certain that since the, opening day values hav» got on to a higher level. The demand is .running keenest upon good medium combing morinos,. and;these are now up a full id. per jo- fO™ 6 think the rise extends to a penny, but that' only obtains on a: special lot whea American influence, is felt. The general run of . grease merinos is about Id. more than ]ast : series, and at this there is an excellent demand i' , r l & .. qualities. The Continent is giving ? r-._ support; in fact, the way Germany ana competing is quite a surprise, bvidently they have strong confidence in the future,' for .with heavy arrivals of' direct imP. or ,»: are still operating most extensiyelv, and will continue so to do right to the nmsh. Scoured merinos have umloubtedly improved their position sinoe the opening, for whereas during the beginning of the-series -tnere was httlc improveicent, a . penny riso is now swn in most lots. There is an excellent flemand for West Australian wools, Bradford paymg up to 13d. for'these wools, shafty pieces and broken wools are'sellins at the frnl improvement, but scoured faulty wools do not show much change on last 'series. At tno same tune axe selling very well. GREAT DEMAND FOE CBOSSBREDS. Crossbred wools are meeting with excellent competition, and the demand is very keen both on home, and American account. One cannotholp but n'otico the great competition there is >foiv everything in the crossbred line, and while the home taade is operating on tho largest scale and taking the bulk of the wools, still bermany is buying liberally good medium and 5?,® : Qualities, America continuing its operations on..the same large scale as, in January. All tills gives tone io tne salo room, and prices are now <10 per cent, up for fine qualities, and 5 to 7i per cent., for . other descriptions. Punta ATenas'wools , lip,vo this last few years come to tho. front in) a very remarkable way, and when llsd. ls.paid for .half breds and crossbreds from-that qmrtei], it shows that tho, wool, in question is of no mean order. ' / PAPER-LINED WOOL SALHS. i; This week we iaTO had before'the'trade threo (uuerent lots of wool , bales, all' advertised in the catalogues as" ■'•'roecinl lined tares." These consist; of cotton linings, wool, linings; and tare 3, the last-named taking.avery dennite shape. .Some Tasmanian clips' last luesuay had had loose paper inserted between tho tho. inside of the bale to keep the fluff from rubbing off. on,to the wool, but 1 only lreard ono'man speak in'favour; of it. Ihe best and. soundest principle of.Bolving the vegetable ifyre dificulty is by adopting the corrugated,:paper-lined tare,' in ;which > the paper , has been fastened on .to : the: bagging itself j ill other .words, tho. BQme way as what ■wo saw-last-series-in part of the., South Australian oup Hummocks, and also several other clips. ■-A portion;- of-:, the-.New .'Southt Wales olip, Goonoo Goonoo, had. beon baledfin-papor-lmed .tares last - Tuesday,, but. it- presented a sorry Sight. . The weight of the tare was 91b„ and most of the bales had burst. They-were simply , too.: light, but the Hummocks bales had: carried; aU right, and others will if tho tares are mad© 11 to 121b.-.- To my raitid this is-the tare that will solve the present difficulty of .'matter; getting into the .wool.' •' ' '' • V ' HIGHER QUOTATIONS IN BRADFORD. ; . Sufficient time" has now elapsed to show exact y the position' of things in Coleman Street, and. the higher quotations from •' that quarter have had tho effect of "causing all topmakers to-advance their quotations a full Jd. "Even then prices-in London, aire ahead of-thoso current in Worstedopolis,- and;.ho would .be' a gomus who could buy.the raw, material there and. oonyert same: into a good super. 60's top .at. 24Jd., There has . not' been a great deal of i business .doing'at those higher quotationsi and it will be much if users .buy on any larger scixlo just yet. .Many entertain the opinion that the raw material is moving at a faslor rate than the.fully manufactured article, and it-now .remains to be.'seen, if yarns and pieces can bo got up.to the level of .tho raw material. Consumption is well, maintained,' and that is IP, 0 'sheet, anchor of the ' pTesent situation. There is on . all hands ..as strong a demand for the delivery of ..tops as ever, and this is tho most satisfactory feature -of the "entire trado. All 'topmakers are exceedingly firm and demanding more money, and "they aro as confident as ever over the future. The same feeling obtains in regard to crossbrcds, and here good ft. s , a . ro being quoted at l2Jd. and. 12Jd. With the on the part of spinners and export houses, three weeks'ago, thero is not now a big- quantity 'of, fresh orders on tho market, but all. the' saiho the' 'one "of strongconfidence that they, will make what they are asking before; long.:. There ■ continue", to bo some- good'-shipments' made 'to tho Continent of - carded, descriptions, and prices Hero have also ■ been, advanced. The position of things in London has: influenced sensibly the situation in all its branches, but. naturally tho upward trend-, of. values: is not relished' by users. Mohair .is still moving ,in a very retail way, and a :flrm offer for , any weight would'find merchants -.willing';to .accept ; a trifle-less than current quotations for average qualities, which are- mostly nominal. "■ The situation generally is a healthy one,, and consumption is expanding.