LONDON WOOL SALES

Dominion, Volume 8, Issue 2558, 4 September 1915, Page 7

LONDON WOOL SALES

PRICES EASIER EXCEPT FOB THE BEST WOOLS (from Our Breoial Correspondent.! . London. July IG, 1915. , .The .entire trade is etill finding its best interests centred in Coleman Street, tho week under review having seen the sales conducted on very similar lines to tlio previous one. Some days tho sale has passed off better than others, it depending a good deal upon tlio wools eatar logued. For instance, when there has been a yory good show of shafty merinos, prices almost equal to the maximum seen during the first week havo been readily paid, but for average and faulty wools the weakness seen last week ia still iii evidence.' The. trade is to-day favouring especially something with, body in it, what a blunt Yorkshireman calls "guts." Although that may be a somewhat ungentlemanly expression, it contains n good deal of meaning. - It implies that wool is wanted which is going to give the least trouble in combing, together'with the maximum results, and this can bo Teadily understood: when we say that commission wool combers to-day are moro particular about tlio blends which they- will comb. Of course, in ordinary times when there is an abundance of combing ..machinery available, oomberd will take: a. good deal of short burry .wool, - and not demur, . at even combing ■ pierces aiid bellies if blended with :a, bii? of.;-{leoent fleeoe, but. to-day with there being: so.much pressure upon combs,' and they can pick and choose, they:say they will only tako wool whichshowa a ideoent, length, and is comparatively freo of burr. This is but natural, and - when one . considers that conditions are so abnormal, and that there is such a big weight of wool on the market, combers' preference must be ! considered as much as possible. . Healthy Demand for Fine Wools, One of tho outstanding features of .the week has been the fairly 'good attend* ance, and tho absorptive capacity of the trade 'remains • moderately satisfactory. There are who are demurring at being, called up'on to buy such ■ big l tiuantities, but we say that these firms aro iheuv own masters and can just do what they think best. Still, there, are some who, if there is a sale, are like d . ait .watching the appearance of a mouse, 'and who are aievei" unless they-are dabbling in the offerings. That is ' really, the position, of'affairs to-day.' It does nqt speak at all badly for the market ,when v up to Is. 7d. is being paid for Queensland combing grease, 6Jdl is being realised for' fatty New' Zealand merinos. Of course, these wools show a particularly well-grown staple, are free of bun-, and- to spinners especially appeal 'very powerfully. > There aro still firms : who utterly • ignore seedy, burry parcels;! and when they see wool possessing 60und characteristics, they aro in no sense slow to; avail' themselves of the offerings. There is; this important • fact: to be considered at a tilne' like the pre-' sent." With margins being good, spinners and for that matter evon topmakers can -'afford'--to . pay very .full i market • prices, and we have seen' daily:demonstrations of,''.the exoellent position ' ocoupied by .users as they have approached' the best classes of fine wools. If: wo>take south ■ eastern South Australian, wools we-have here, an .of what is being appreciated by, the. fact that last Saturday :the Mamillot olip iriade' ls. 6d.- for the 'grease combing, 'this being a shafty, well-grown-clip pf first-class characteristics. It is in .these .wools wherp we see ' the, 'soundest features of -the series; ~Evi.dently .dently the. trade is seeking.raw material that is going to rive the least trouble in manipulation, ana therefore we regard all the shafty. and free' merinos lis still v making a full 5 per cent, advance oyer,last series. Where these'wools would have gone if the United States had been at all a : free buyer . one hardly knows, but to-day America is almost .silent, and doing very little indeed. . : :We think that medium and faulty • wools.:vhave' rather. receded during -the ; week, ;aad : they are no' better than When we last wrote. The.fact is remarkable, that these wools have .''hot lost more .'ground,.:and(We..think this is due to those Hinis having tlieir own combs being: fairly. free.buyers,'-.''We must' say, that there still remains several of the most important topniakers who, .althougli -'well supplied, with .'wool,: are prepared to take average parcels,. ;having". only themselves to please' in' regard to the' wools which they have'on offer. , That..-is really 'the etate »of affairs, to-day. ' We cannot 6ee the faulty carbonising wools doing.very much different to what.they did last series, . olthough tho wools ■ which are fairly shafty yot burry are selling if anything ;at about S:per cent, more .than in May. The...very faulty wools are certainly no>. better, and importere die wisely meeting the:market. Wo hardly think that Russia has been 'so active this series as last, but the offer-ings-nave .not been quite so spicy in regard lo tho wools available, lhero is_something' to be said upon that point. e still find that they are ready buyers ol • very good scoui'eds, and are paying anywhere from'2s. 3d. to 2s. 8d„ to the colour, ,condition, and freeness of the parcels. .We liavo, seen tnfs iveek: the latter price paid for .very good shafty Queensland wod]s, and we'see no reason why tjiey wijU not romain in tho Wilson 1 lifer thjit Stw torpedoed last .week w.as cavi-yihg a fair weight of {Scoured South Australian merinos to Russia, and with' , that boat going dow.n it means that the owners will havo to. buy anew. Seedy, burry . lambs' '^ofc, doiiig tbo anything at i deceot in" colour and fairly free ja making gt«d,:prices.-: Taking <4f.things into consideration we regard 'the sale Of merinos <juite as good as anyone ,cou r ld expect, in. faot the market is a very satisfactory one, and we ghaHjiqi well'if prices do not depreciate. •' > **- . Big Prices for Crossbreds.; : _ .There have been some good offerings' of New; Zealand crossbreds this week, including fair quantities from .Australia. ca S' l 2-- we are Particularly .well satisfied with the bulk of the'wools from ew, > bouhli WaJes, • a good m any parcels being exoeediugly bun'y and rough in the '.Bseeptjpff in « v few ,' favoured localities, Australian crossbreds are ,equal to those of New Zealand. Tas. mania and. Victoria have .demonstrated tnat good. crossbreds can be produced i. ?.T a , districts,in southern ■New .South. WAles'aro doing likewise, but the,-bulk pf the wools from the Commoiiweathl are deficient in manufacturing properties,.' Add to this the buws, and there is nothing at all attractive about them. 'When we tura to New, we still and up,to ls. 7d. being paid for very lbhtoonditicned medium 0 and fine crossbreds, but there have been .fewer Is. Sd.''wools .this week, a proof of the easier values wlucli aro ruling. AVe call to-day evon fine dressbreas a burn in favour of the buyer,'and to be very-candid we eamjot see that,tho advance is now much more than Jd. for even the best wools, over May rates, while average-cpnditioned wools in all qualities are practically back to May prices. But even the figures now ruling must' bo regarded as very satisfactory. What wo think is tho strongest feature of all is tho steady absorption of the offerings, Every, day jcrosabreds are mopped up with considerable avidity although values are eertainly ruling on a lower standard. During tho earlier part of the auctions users bought freely, fully expecting to see further important khaki orders given out, but hopes in that respect have to a large extent subsided. At least there are now no new orders being placed, but it is felt that if tlio war continues : through another winter,' all the crossbreds available will bo wanted to satisfy the demands of the Army and Navy, Wo are' all- satisfied as to the wool wlbich is most suitable for army purposes, and experience has proved duriiW the past nine months that crossbred fal> rics are excellent for tronch work as well as for the ordinary wear and tear of a soldier's and -sailor's life. v Slipe<! are certainly easier, tho decline being Jd. Jo Id., compared with last series, or even the first week of the current auctions.. These wools have really sold for months above their intrinsic• worth, and With the quieter state of tho khaki trado they hiivo certainly followed a natural: oourse. They aro the most suitable for spinning woollen yarns' for the production of khalti serges, and with sup? plies being large, no one need express surprise at tho Id. to Id. decline. Scoured crossbreds also aro slightly in favour of the buyer, although horn jd, to Id, cov. era w. fulJ,; Still ,w.«'lwve'to faos ,tli«

fact that the slight setback in crossbreds is' a natural corollary of what is happening among manufacturers, and we shall he milch surprised if prices revert to tho highest point until now orders are placcd. Conditions in Manufacturing Centres. Turning briefly to the state of tho manufacturing world, wo do not find much that is new to say. Tho threatened mrasion of American tops has resulted so far in nothing but talk, and no one oxpects any great sales in them. ; As a matter of fact, very little has been dono lip to tho present and we do not expect very much. The price at which they aro being offered is no temptation to Yorkshiro spinners, and therefore wo are satisfied as to what is going to transpire on that hoad. Merino, tops in Bradford romaln barely steady, thero is no aotivity, and to a large extent things are marking time. Fine .crpssbred tops are fairly firm, but 48'sj downwards must be called slightly in buyers' favour. However, the whole market gives evidence of solidity which is commendable, and considering the booming state of trade we fully expect to sec a steady market, notwithstanding a quieter period can 'be looked for.