LONDON WOOL SALES.

Dominion, Volume 5, Issue 1535, 3 September 1912, Page 6

LONDON WOOL SALES.

CONTINUED ACTIVITY AT FIRM PRICES. (From Our Special Correspondent.) London, July 19. The sales continue to make excellent progress, and there is no giving way whatever in values. During the past week everybody seems to have been alert, and there is no doubt as to the general course cf the sales. It cannot be said that the trade is overburdened with catalogues, and with the present spell of hot wrather, SOOO to 10,000 bales per day seems to be quite enough for buyers to get through. The somewhat small offerings tend to keep the market very firm, and there is- no disguising the- fact that a strong disposition to buy is still in evidence, all sections alike being prepared to take the offerings. This is a good sign, for although it is often seen that towards the middle of the series when the most urgent wants of buyers have been met, there is a little slowing down, to-day there is in evidence as much keenness to absorb the raw material as ever, and without doubt business is being done which can only bo described as very creditable. This scries the prices which have Ireen paid are not as .high as was the case in April, simply because there is not tho same class of material offering. At the Fame time, very good figures are being bid, and average descriptions of wool arc fetching a distinctly higher range than last scries. This is good and it must be said that the pricesi.paid cannot but give satisfaction to the grower. _ fli«'continuance of tho dockers' strike is rather handicapping the work at the dock:-, but, considering the adverse «™tnncc, which are having to be fought against it iV certainly satisfactory to know that i^^^dX at Tt trade are finding their wants about met with the exception of these in scare]h of scoured faulty pieces and locks, which seem to be conspicuous by their absence.

MERINOS SELLING FREELY. There continues to be an excellent demand for fine wools, and although both French and German sections are net buyin- on the same scale as Inst series, still with the activity of the Home trade all merinos are going out of hand splendidly. Competition continues to be nf the best, and no 'soft spots have vet been revealed. Good average topmaking wools aw bid for very keenly, and the Home trade is very much in evidence for all descriptions of fine wools, ttaadersfield manufacturers are giving excellent support for superior greasy, and 1 is no-uncommon thing to see second-hand parcels from Victoria making from W. to 14d. per lb., superior lines of fine grease making up to lad. Tasmaman wool.has been available during the week, ond here too very good figures have been paid, -Wi to llijd. has been realised for super combin" grease, being in tip-top condition, hne and well grown. Tasmania is capable of turning'out some very superior parcels 01 raw material, and it is a" pity for many reasons that less merino wool is being Town in Tasmania than formerly. Other considerations, particularly the increasing demand for frozen mutton, have been largely responsible for wool-growers going in for more mixed farming, and keeping crossbred 'sheep. At the some time,, it will be a. thousand pities if lasmanian shtep-brecders entirely discard the merino, and we do not thing they. will. Scoured wools continue to move M. to Id. dearer than last series, and, as already said, Hie scarcitv of faulty wools is .responsible ior a full 5 per cent, improvement. Ihe Home trade is a very rendy and largo operator, rind it- is remarkable what keenness is displaved to. take-.lip"the raw material, particularly for topmnking.purposes.. Ihero are some firms'who must do/part covering, and this is responsible tor the continued eagerness to obtain wool, and their willingness to pay enhanced prices. CROSSBREDS AS FIRM AS EVER. Wools from Now Zealand continus to figure prominently in the catalogues. There iV.no. disguising the fact, thaj;,nil sections of the trade are ready to operas, and prepared to pay the recent unproved values. The selection continues to be very good; all qualities from 3G's to 56's are well represented, particularly medium crossbreds theso .benefiting considerably by the 'increased demand on the part of America. Both French nnd German buyers are taking a few fine crossbreds, but.on .the whole these cannot be called more than Id. to Id. dearer than last series. Medium crossbreds aTe ferine the best, these often being Id. to lid. dearer, and the same must be said of coarse crossbreds. Everything depends upon the condition and stvle of the wool. America still shows the greatest inclination to secure the lightest and best conditioned parcels. ,especiallv lots- which have been well skirted, th'ough it has frequently been remarked that even average conditioned qualities have come in for a fair measure of support. This is very significant, nnd shows that America is prepared to buv liberally. The soundest factor of all'appears to be the belief,that these wools will be wanted by United Mates manufacturers? before the advent of the next New Zealand clip. There w- no doubt that the present measure of consumption across the Atlantic is such that a lars?r quantity of average grown wool will be required, and we are pleased to s.iv that, this class of staple is beins. so Persistently called for by American buyprs Bradford toyimakers are all very keen to operate ami whatever America leaves is-readily absorbed by them. n regard to coarse crossbreds, one of the most, surprising' features nf the series is the feedoin with which 36's to 40 s fleece wools are being tnken up for the United States. Last series good wools could Ue freely obtained at fld. per lb., whereas to-dnv similar parcels are being readily absorbed at 10d. to 10Jd. on export ac-. count. This is rather significant, owl shows that buyers generally are moving towards somewhat lower finalities, ins Home trade is giving very ready support (0 all.pieces and bellies, and iilHioiHi those are often somewhat shabby and 'dagsy.-Tct they will do lor corded tons, alTd'fuil 3d. more is being paid for thorn than last" series. . . Slipe crossbreds are being readily bought. ami are not so plentiful as manv expected. No doubt more would be available if they could be brought forward, but it is wi'll-known that selling brokers are handicapped in-getting their ofterines forward, and it would be a very "ood thing indeed if the lightermens strike had to collapse. Good half-bred lambs nre easily making !d. more, and on the medium and drnper wools the advance is often }d. to Id. Scoured crossbreds are also not at all plentiful, and here too, there is a full advance. Taking all things into consideration, crossbreds are selling splendidly, and the enhanced rates arebeinc readily, conceded. Perhaps the most, surprising fenture, of the entire series is tho incomin? of the American contingent. We need hardly say how welcome is their competition, and what influence it has exerted upon all European wool markets. In the Home trade, it has hnd the effect, of stiffening 1 ho-backs of all .holders, and the fact has Wen demonstrated that the raw material occupies an unusmllv sound.nositmn. It is certainly remarkable that the effect of American competition has lxen so farreachinsr. but we have her* an echo nf the expected larger consumption across the Ulnntir, and with the textile industry of that conntrv continuing to use wool on a fairlv bi<r scnle.'it Mroply menus that its users must turn to Europe, frr larger supplies. It is mw fu'ly Hint, there will ht no r.hnnge in the tariff until the' election of the next President, nnd no doubt American buyer* nre rmeralins with that assumption 111 th»ir niiml?. Tt is certainly satisfactory to think that in English o«"w»ll n<. colonial wonjs larser nTiqht<i-aro being consumed outside brent Brifnin. nnd the prf c ?iit spirit ami tone of the sale room nre pprlomly. indicative 1 of the v henlt)iv stati< of affair* obtnimni throughout all mnnnfacturimt districts, both lit Home and abroad.

1 i KEW LEVPT nr Pi?TOES ESTABT.TSTTTSP. , With the sales continuing firm in Colemnn Street, l.hu Bradford marlcft has picked >ip wonderfully, and every description of wool, tops and yarns is on a hiahev basis than n tortnifilit. ago; I here i< no doubt whatever as to the influence of Coleman Street upon this market, aud 5 )1 .sections alike are now doina their ucmost to bring values to a leve .that London Ti-arrants. We wa hardly say that fellers are meeting with considerable difficultv, a lid it h no light ta.ffc.w comm.anil Id. 'more for 61's, aud. a gnod W. more tor prea ]<w crosibredV " Af. the mow Hme roiunakw* bnvn mi •Mt«rnntiw,b«.. auin'ain. their auotatjoas yum .consul;.

arable firmness, and it looks as if users wijl be compelled lo accede to the topmakers' demands, and this notwithstanding that considerable weights of tops have tti be delivered at sensibly less than is quoted here. Those who me liHviiig to do part covering in Coleinan Sfreet have a \ey thankless task, for there is iin disguising the iact that tops iiave ken bolil tou low, mill wiriil is sensibly nlravo recent current quotations) iu this market. Merinos continue to occupy the premier position, and talcing things altogether, the market is very smiiul and healthy. Commissiijii v.-nolcumbers continue to be excedingly busy, and there is little complaint to make on that score. Spinners continue to call for, tops as readily and freely as ever, and without doubt consumption is large. It is possible to buy to-day average C 4's at 27d., although several leading topmakors nre all quoting Jd. more. This quotation is to a large extent i made in self protection, and there is no doubt that little business so far. has been done on this basis. The continuance of the docker's' strike in London is preventing wool from arriving freely, anil direct imports are coming forward very slowly indeed. The fact is, this district still want* a big weight of raw material, and there appears to be no prospect of any surplus. Fine noils are also moving a little more freely, and a shade more money call be made. During the past ten days a fair weight of now business has been, done in carded tops, It's to 48's selling in considerable weights both on Homo and export account. It is very difficult to make an impression upon buyer?, although topmakers are mostly quoting id. more. Business is moderately satisfactory, but it is still possible to buy 40's prepared at 132(1- Taking all things into consideration, the market is healthy, and with a continuance of the present measure of consumption, all wool supplies bid fair (o being consumed. English wools are now moving more freely than they have done lately, and on the early purchases, if is possible to obtain a fraction profit. Business on the whole is good, but prices still mount upwards, and this is rather handicapping Fellers. Mohair is bettor than it was, and more business has been done in yarns than recently. The manufacturing situation is sound..