LONDON WOOL SALES.

Dominion, Volume 4, Issue 1224, 5 September 1911, Page 5

LONDON WOOL SALES.

GOOD DEMAND AND PRICES FIRMER. (From Our Special Correspondent.) London, July 20, 1911. . All things considered, tho sales are making good progress, and it is to bo sincerely hoped thero will bo no Eetback, otherwise it will have a very serious effect upon all consuming centres, both at Homo and abroad. It ie better by half that tho series finish firm than they bo continued well into the third week and end badly. If they do, then we unhesitatingly affirm that irreparable harm will be done, but there is a hardening tendency for gcod greasy wools. So far competition has been good, nnd each day has brought forth decent offerings which have met with good competition. There continues to bo a very good attendance, and wo see very little reserve on the part of any section of the trade. America, is buying a little, but its operations MO more of a "sniping character than anything eke. Last week-end there was put" up some very superior Geelong "second-hand" parcels, and although there was no American port upon the outside tares, yet it was generally understood that they had been returned from Boston or else were originally intended for that market,, but had been stopped in London. Judging by the outside tares they had been in stock a long time, and we think we aro right in saying that some of the wools were bought onginally in Geelong in December, 1909. Several lots wore bought by a firm having an American connection, and presumably "they wero taken for that quarter. But it is.tho regular lines as absorbed by the Homo and Continental trades which naturally engage most attention. These are what may bo called the "rank and filo" wools, and are tho backbone of the entire industry, and we are glad to say tueso are still being absorbed in a most commendable way. 'Wo certainly think that good combing grease is easily making last Eales' closing prices; in other words, London values are still slightly in front of consuming contrcs, if that is a fair way of putting things. At tho samo time it is hardly reasonable to supposo that any section of the trade is going to Coleman Street to buy wool and pay prices which they know they cannot get back. This sometimes is done in a season of disaster, and when an unforeseen slump comes off. However, users know exactly tho condition of the market .for tops and yarns, nnd can be relied upon te shape a programme accordingly. The Continental section continues to bid freely for all fine-haired Queensland new clip and Sydney parcels, while Bradford top-makers give excellent support to practically all descriptions of merino wools. We cannot say that scoureds are selling so freely nor malting such good figures proportionately as greasy fleece. Somehow, tho confidence of the trado has been a little shaken in scoureds, one) owing to the large number of firms who have during the past two years put down a scouring plant both at shipping ports and at inland centres, there is to-day more wcol being scoured in Australia and New Zealand and then sent on to Coleman Street in the hope of realising a profit. Wo are afraid that not much good will be dono this year with, theso parcels, for they, are noT; making big figures. We know for a fact that there are available in London to-day some fairly big quantities of faulty scoureds, and these are certainly not making any more money, if as much, as they did last, series. Taking the competition on tho whole, it certainly is c reditablo, and greasy fine wools aro selling in a most commendablo way. The ■ new clip from both New South Wales and Queensland gives unmistakablo signs of being fairly well grown, although some wools from the latter State are on- tho short side, as if they have been shorn too early. If this is so, then, of course, it will be remedied next year, but some clips are certainly all that could be desired, and have sold very freely indeed. Below wo show what new-clip wools have made this series, compared with the corresponding series a year ago:— W. F. BUCHANAN,OVER KILLARNEY. July July series, series. 1910. 1911. Description. d. d. Greasy super combing 10 Hi Greasy combing 9J 10J Greasy black 7 ' 71 Greasy first-pieces B<t 8 APCO OVER DO.ONDI OVER N: Greasy A combing ewe H... lij 11 Greasy B combing ewe H ... 11 *' 10J Greasy C combine 10J 9\ Greasy broken hoggets 9J 8J NBACo OVER NOORAMA. Greaso combing 10} ]0J Greaso A ewes 9J gj Grease R 7} 8 Grease AAA lambs 10 — Grease necks : . loj 10 Grease pieces 8J 10 Grease bellies '...... 8 1\ NZ&ALANDCo OVER OAKWOOD. Greasy super combing E _. 13 13 Greasy first combing E 13 \i\ Greasy first clothing B 12J nj Greasy necks E 13 , 12 Greasy first pieces E \\\ \\ Greasy second pieces 10 0J Greasy bellies 9} 9 Wools from New Zealand continue to bulk the largest in the catalogues, and' without doubt they aro selling as well as can be expected. .We hardly think they are making the extreme rates they did in 'May, but nobody expected such to be the case. Fine half breds* look to us to bo id. cheaper, and-the same must be said foT medium crossbreds. Coarse qualities are making just about what they were at the close of last series. What satisfies us thebest is that the demand is still well maintamed, and the desir-o.to operate is still very strongly in eviden:e. Of course, tlo Homo trado is talcing the lion's share, and it looks as if uses had still confidence in the situation by the way they are operating. It is well known that stocks are considerable in all selling centres, but for all that top-makers are satisfied that ultimately they' will be able to turn their present purchases to gcod account. In the ca?« of slipes, which arc still being offered freely, there is nlso fnirly good.competition up to a certain point, but no section of the trado is disposed to exceed their limits. The opening de«lme,,w st'U in evidence, and likely to be all the series. Owners aro' meeting the market, , and acting very wisely 'in so doing. It is really surprising .- how scotch tweed manufacturers, as well as those making fine-haired tweeds in tho west of England,- aro absorbing good half-bred lambs, both sliped and greasy parcels, but no ' doubt . these produce excellent fabrics, and givo that Cheviot? handle which is to-day so popular among wearers of fancy tweeds. The Continent is absorbing sonib nice lines of medium qualities, but here, too, cheaper wool is tho burden of their cry. Bradford is Warned, by French a-ud German firms for maintaining values, but, of course, they must have some complaint, and evidently that is what suits their purpose. At the samp time tho catalogues are being well cleared, and we think that owners are wife in letting the wools go at enrroat rates. CONDITIONS IN BRADFORD. Bradford is being largely influenced by Coleman Street, and the unproved tone whieh has sprung up in consequence of the sales going better than expected is maintained. We can't Fay that a big weight of now business is passing, but move sales of tops have taken place, and wlierfe a man could not command a bid ft fortnight ago, ho can find a customer today. There is most doing in merino tops, but more money cannot be made. Spinners say they have no difficulty whatever in obtaining all the tops they want at 27d. for a M's of a good standard make, and they are not keon buyers oven at that. On the part of some topmakers there is no disposition to give stuff away, for they believe in the future of fino wools. Consumption is well up to . tho recent standard, although spinners say that there is not much new yarn business passing. It is certain that Bradford is not up to the standard of Coleman Street. Crossbreds do not show much recovery, although there is more doing in medium and fine crossbred tops. Users have more confidence in covering any new ywn sales, but' there is not the volume of business doing that one might expect. Forties are very slow of sale, and some very low bids are being made. Tho way wool sells in Jxwidon is what surprises this market. Noils aro very indifferently situated, and prices are poor. English wools have- been bought at too high price.? for Bradford users, and sales are made with difficulty. Mohair hangs fire. J