LONDON WOOL SALES

Dominion, Volume 8, Issue 2510, 10 July 1915, Page 13

LONDON WOOL SALES

CLOSE WITH PRICES AT THE HIGHEST POINT

(From Our Special Correspondent.)

London, May 21. The sales finished yesterday, and the filial results cxceed all expectations. For many series we Jmvo not seen tho same results as have been witnessed 'duriiiß tho recent auctions, and to find tho finish with firmer values thaii at the opening, is something which never entered tho minds of anyone during the first week. It is simply a case of renewed faith in the future of wool values, arising; out of the large amount of business vt'iuch. has been done in Bradford and elsewhere during the course of tho sales. Everybody freoly prophesied at the end of the first week of the auctions that they would never last the wlioie of the scheduled time, for certainly the Saturday's saJo in tho first week was a depressing affair. Wo use that word very advisedly, for those present" felt that we wore on the eve of a serioua .fall, but the tide turned, and maiiy were asked for an explanation. The writer will not attempt to explain the cause of the change in the course of events, suffice it to say that we have to chronicle a most encouraging close, tho end of' the first week proving'to be the low-water mark of the series. 'Probably the rather depressing news from the seat of war during the first week in May, leading all alike to believe that the war is not going> to end this yiea-T. lies at the foundation of tho increased call for wool, and no : doubt tho very bright prospect for booming trade is also an item which, cannot be ignored-% anyone. However, the 6ales finished yesterday in a 'splendid! manner, everything appreciating, even Shabby, faulty, buiry, carbonising parcels selling better than at the opening. These results cannot but bo very pleasant'to allalike, for certainly the auctions have demonstrated in no unqertaift jray, tho great strength of wool. A Good Show of Adelaide Wools,, The closing week of the auctions has brought fortn. a very acceptable selection of South Australian wools, to which full justice lias been done. It is quite in order to say that a good deal of grumbling has been done by • those representing cSouth. Australian interests, in London, at the inability to get the wools out of the ships and catalogued earlier in tho auctions, but a stroke of good fortune has befallen them by this seeming untoward event having brought with it distinctly better prices to tho owners of tho wool. The last three.days of the series has produced a very good tone, and some excellent prices have been made. Tho writer is certain that a good Jd. more all round has been made on-the wools sold than if they had been offered during the first fortnight of, the auctions, and even Id; more has been paid for wools showing good length and decent in character. That is tho-situation to-day, and certainly owners have every reason for feeling pleased, with themselves at the stroke of good luck • which has befallen thorn. Several good little clips from the south-eastern district have been offered, these showing tho usual West Victorian character. The chief, features'are the soft handling properties of tilio wools, and they certainly have manifest , good sound ■ manufacturing characteristic? Which the trctde has highly appreciated. Then other clips of first-class order have been submitted as Morambro, Lako Torrens, Kelton, in" fact,' quite a host of South-Eastern clips have been catalogued which have sold up to 15d. for tue merinos, and'a fraction more for the crossbreds. General satisfaction is also folt at the reported splendid rains which hav fallen throughout the State during the past ten days. Australia to-day looks out smilingly, and long mQy she continue so to do. It is hijfh time that pastoralists had a'good innings.' Some could well do with a period of prosperity to' compensate them lor the loss, inconvenience, and terrible sufferings which they have encountered (luring the post two or three years, .where drought has prevailed, Final Results. • No new feature developed' during tho closing days of the auctions, but tho increased level of. value .toon, last week remained intact, the auctions coming to-a finish with prices at the highest point. The damand lor wool remained keen right to the close, a different buying • spirit being in evidence during ,the last ten days of the auations to any time- previous, and buyers left for home feeling that while tho series had been unduly long, prices, were firm and exceedingly sound, it is really amazing how tho various sections of the Homo trade have "stuck it," but, their'efforts have been well seconded by ono buying broker who has operated very extensively oil Russian account. The only _ unforumatß element here is. that Russian 'operations have been confined exclusively. to scoured merinos, their representativs not touching, greasy flceces at all. This is entirely due to the inability bj get wool scoured, for in normal times Russia has bought big weights of - greasy t wools which have all bcoa scoured at Vetview, »ud then' sent .overland through Germany to their ultimate_d&4tinntion. To-day they have to confine their, operations entirely to scoured merinos, and have paid anywhere from Is. lid. to as. 6d. for reallly good wools. This has helped tho sale of scoureds wonderfully, in fact, but for Russian competition the best scuurods would in all probability not have made beyond 2s. 2d., except for a few specially clean lota. Average to good greasy' combing wools have also sold splendidly, and are finishing on a parity with prices ruling at tho close of the third series. In fast, merinos.havo done exceedingly well, and apart from the carbonising'., bnrry parcels which have also improved their position by Id. from the lowest point, the wools have done splendidly. ■ Crossbreds too have appreciated quito unexpectedly, the best halfbreds being practically on. a parity with the closo of laat eeries, while medium and coarse parcels which ,at one time showed a full 2d. fall, aro to-day no more .than, id. below: the close of last aeries.' 3! Tops Rising, in Bradford, Turning to manufacturing centres, wo hhve to record.® very buoyant time in Bradford, with tops on all hands still 1 showing a distinct rising tendency. A fur- . ther big business has been done, particu- : larly in merino tops for delivery as far forward as next November and December. , We have before emphasised the iattitudo 5 of spinners, who aro making preparation. ' for a long time ahead largely through 1 fear of being unable ito keep their spinning frames going if they do not buy freely on forward account. The combing difficulty is the source of all the trouble. Things here get worse and not better. The result is that any topmaker ablo to give immediate delivery of even five packs, of tops can to-day. make extreme prices. As a matter o£ fact, 2s. lid. ins been made this week for ij good Gl's top, and for next October and November delivery as high as 2s. lfld. is. firmly named. There are spinning frames standing because of spinners being unablo to get the topos they need. So many men have joined tlio colours that the hands left for the night turn aro a. very scrappy lot indeed, and it would not bo a bad move if a few; hundred Belgian refugees could be brought to Bradford for working on the night turn. Crossbreds too are firmer, most qualities being a good Jd. more than a week ago. Tho fact is, tho trade of the West Riding of Yorkshire'booms, and will boom, and everyone feels to-d;\y. that they have not half enough 'machine cry. to cope with the business offering, ■ — ■ 1 "i ■ ■ I