LONDON WOOL SALES.

Dominion, Volume 2, Issue 542, 24 June 1909, Page 10

LONDON WOOL SALES.

<# : AMERICA IN GREAT, BUYING FORM. FURTHER ADVANCES IN PRICES. (From Our Special Correspondent.) .. London, May 14, 1909. ' The past week has again been characterised by increased activity on the part of : all seetions of the trade,, and tho series are being continued/under the most. favourable conditions. Coleman Street never' presented a more busy scene, and never gave a better account of itself. The business done cannot but please growers who have consigned their clips for sale, and instances could bo named where as | much as 4d. per lb. mord has been made tliau what was bid at Australasian selling centres. I have no. desire to say that with the intention of causing any grower to ship to London,but the facts are nevertheless pronounced that 'colonial prices have air through the past season been sensibly below; those ruling in ColeI man Street However, the.past week has seen value 9 ajjain advance, thanks to''continued great activity on the part of all sections of the trade. - . The selection submitted* has been good, crossbreds, of course, predominating, ana some 6en-. sational have been paid ■ by 'America, the record contingent of. buyers from that quara r £. 00( * account of themselves. At the last two 9eries their sole attention was devoted to medium and fine crossbreds, any- • n^fTVL- ow keing left out of their reckoning. This series, however, wools as loivas 40's have come in for splendid support, and have oftentimes made 2a» to 2Jd. per lb. more than they_would if sold last series. - Crossbreds of all Qualities can now be 'called 10 to 15 < per cent, higher, and. hardly a lot is ever withdrawn. Merinos continue as freely a 3 £j Cr> a these, too,' are selling at' Id. t° above March rates. ./All good combing wools are selling the' best, short, shabby extract parcel being no more than jd. to Id; better. Cape wools also are doing, better, m , a Id. .and grease par" to £d. fp^'f nrk ? perhaps, is the most satisfactory feature of all is the universal demand for the ° ' on all- hands wool is being called for in a most persistent • way. Slines* V ld '- tetter ' and cm : sald for a 'l merino and crossbred lambs.

EXPANDING WOOL EXPORTS. mUnX Board °f Trade Returns for tho month of April are far from being satisfaeDpSnin^n ll ?), anti th ° s ? tllin ss which appertain to tho_raw material there is evidence of expansion. Tho fact is significant that while other trades are groaning under a load of bad trade, and no returns, wool is just at: the point of booming, if it is not there already, i will leave alone the import'side of the returns and simply give, the, figures for the first i v P as ' tlireo years, showing'' as follow TB °° me which Hro S 426,815,513 pounds. J™ •••'• 347,614,99S , " 1909 434,633,368 ' 'i■, i What is by far most important is the export side of the account, for we have here some evidence Of- tho trade doing ih' inianiifactnring areas, lhereareifeatures whmh'arevvery. satistoctory, b.ut .others which are far from being so. It seems that nearer we keep to the raw material itself and the bettor aro the returns, but the figures relating to .fully manufactured goods aro disappointing. ' All along; I have pointed out that out shipments abroad of wool and t.ops were expanding in a very encouraging way, and the details; respecting out exports of raw wool ijre worth giving:— :' . ' 1007." 1908. ' 1909. q, ■ „ Lbs. " Lbs. ■' Lbs. : To German? 623,000 490,100 1,298,200 io Isetherljinds ... .34.5,500 1357,000 419,800 ,£° Belgiom 147,000 125,500 215,300 ;Io Franco , .... 306,100 . ; 276,500 855,800 ro . United-. States . 5,811,500 4,492,300 -12;272,M0 To Canada, 593,800 265,100 682,700 10. other countries 1,754,300 ' 1,736,900 ' 1,843 800

T 1 ! 0 surprising.- feature in the above .'ist is the sensibly increased takings of America And Oermany, tho former especially. VI think :if \the figures wero got out that' it' would bo seon that the purchases of , wool by tho United states during the past four month's' aro tho heaviest ever known during that-period, clearly' indicating that that "country is expanding as a' wool consumer. . i

GETTING INTO LINE WITH LONDON. Bradford is naturally' exercised a good deal in thought over the < course of things in I.onclon, and the .market there being so strong lias naturally had the effect of causing holders m . to adjust and prices in harmony with-Coleman Street. Tho result is that -values for \ all classes of tops have been advanced, and in BOirie cases-as much as a penny per lb. It is too much to say ' that this has been mado in many : cases, spinI ners rather fighting shy of paying any such iigures as topmakors are asking, and all the moro so .whenMa practically every case, they havo bought for at leait four months ahead.' Bradford is at the moment in a rather*con;templative mood, .and it is going to take time for local users to size up such a situation as' Coleman Street reveals. Things may be red hot in London, and tho Yankees going in and operating regardless;of«prick; but that is not •tho way they do things in Worstedopolis, and the majority are satisfied to let matters rest ..until the consuming public finds itself disposed to pay the higher prices which are,being -demanded. ■' The rock bottom price of super 60*s tops is 27d.', .'and Some 'are .wanting |d.,-nioro. : Even then, they, cannot-.be made out.of wool bought in ' London to-day. 'To say .'the least, Coleman Street prices are 5 per cent, above Bradford, but. users feel disposed to operate, for by the tiine tho wool will be wanted no doubt prices will be higher. Imports are coming in most useful, for they are bringing in ; tops &ensibly below, what London all along I has produo^d:-....

.In tho case.of crossbreds, there, is a very firm tone, and prices are all on the upward grade. There has naturally been an adjustment in quotations to fit in with the cost of raw wool, but so far topmakers hare not'got beyond tho asking stage. Good , 40's- prepared tojis':,ar6 being quoted at 13d„ 46's 1 at 50V18}d., and 56's 21jd. to 22d., but business is on the quiet sido. London's rise 'has naturally iput topmakers into_ a very strong position, and they are very independent.. The weight of wool passing-through the combs is still maintained at' the maximum, and spinners are taking in deliveries with great freedom. In fact,, great pressure is everywhere seen from' wool-sorting to yarn-spinning, and the weight of wool which' is being shifted is-heavy; There is great confidence expressed in ctirreut values, and although merinos are high, yet nobody see's'any chance of there being, any ease. Mohair' is steady and' prices, firm,, with Cape .firsts at lljd. and' Turkey average . 14id. ,'