LONDON WOOL SALES

Dominion, Volume 10, Issue 3110, 14 June 1917, Page 8

LONDON WOOL SALES

FREE WOOL ON A VERY FINE BASIS (From Ouv Special Correspondent.) London, April 5. It is now tho first week in. April, and it might be tho first week in January, judging by tho weather conditions which have obtained throughout Groat Britain. The heaviest snowstorm of tho whole winter occurred in Bradford last Monday, there being drifts two feet deep. All British farmers are now in tho very thick of lambing time, and tho poor lambs aro having a very cold lecejjtion. Tho weather is indeed a calamity, Easter is just opening, and instead of having; mild, open, sunshiny weather, with farmers busy in tho fields ploughing and (Sowing, tho country is covered with thick snow, and tho outlook is far from being good. Only three days' sales have been held this week in. London, when tho third series was -brought to a finish, The attendance of buyers was on tho whoio an average one, and while tho catalogues were far from being ideal, they provided .some reasonable wools, to which full justice has been done. Prices havo not shown a great deal of variation. Parcels that showed any degree of combing merit sold exceedingly well; in fact, topmalcers aro still ready to purchase free materiid in fnco of the Government agreeing to deliver 64's tops at ponco per lb. less than they can bo made at out of wool bought in London to-day. It is wonderful tho great faith users havo in current wool values, and spinners apparently aro among tho keenest operators. This is born of tho i'oeling3 ot liberty which aro still greatly valued, and if the delivery of Govornment tops during tho past two months is anything to go by, Die experience of merino spinners will bo anything but acceptable. However, tho sales havo como to a finish, and buyers havo left for home. American Basis. As hinted in our last letter, threo days during tho past week have boon allowed for tho offering of American wools, at least tboso representing tho United States were given tho privilege of buying freely, 10,000. bales beingHhe limit. - As a matter of fact, 5000 bales will cover all that has boon' seourod for America. Many profess to bo disappointed at the ■limited Amorican competition, but wo understand that the Government officials are nioro pleased than otherwise at prices showing no further advance. Of course, a, sonsational markot was anticipated, with values advancing penco por lb. No Buch thing happened. The fact is, sweot reasonableness seemed to provail on all hands, and America, whilo manifesting interest in tho offerings, did not feel disposed to exceed to-day's market values. Amorican representatives had tho common-sonse not to ■ forco each' other. They realised that all tho extra profit made would go into tho hands of tho Department, consequently there appeared to be wool for everybody, the result being that full markot rates obtained without any quotable advance. Wo give below a list which shows clearly enough tho prices actually realised for the marks given, America being responsible for taking tho very best clips, paying up to 3s. 7Jd. for those from West victoria. Tho list is certainly liniquo, and clearly Bhows what good wool is actually worth;—

MKY/Yarradool (N.S.W.), 2s. 11W.; COB/AMB (Q.), 2s. 7id.; DA/Mortat (Vic.), 3s. 7id.; Williambury (W. Aus.) 2s 3d.;. W. (?. Biirgoss (W. Aus.), 2s. 7d.; Kerribree (N.S.W.), 2s. sJ<l. ; Woinboin (N.S.W.), 2s. Hid.; Saltern Crcob(Q.), 2s. Id.; 'foldings (N.S.W.), ;is. 3£d.; Coonoo Coonoo (N.S.W.), 3s. 7d.; Heather Bank (W, Aus.), 2s. 4d: RIS (W. Aus.), 2s. 3»d.; Bnckhouse/SB (W..Aus.), 2s. 4<U Portland (Q.), 3s. 21d.; Welltown/Darling Downs (Q.), 'is. 2d.; Acacia Downs (Q.), 2s. 5Jd.; DD/Ehyolla (W. Aus.), 2s. 7id.; Boolcarrol (N.S.W.), 2s. Bid.; ACoA/Bladensburg (N.S.W.), 2s. 3j"d.; Urio Point (N.S.W.), 2s. 51d.; Kynuna (O.), 2s. 7id.; ML Abundance (Q.), 2s. ad.; Crescent/Z/Belalie (N.S.W.), 3s. 2Jd.; Moorlands (N.S.W.), 2s.'7Jd.; Portreo (W. Aus2s. 3Jd.,- •Winning (W Aus.), 2s. Id.; Wellshot (Q.), 3s. Id.; NC (Vic), as. 7sd.; Miller's Creek (N.S.W.), 3s. 2id.; Austin Downs (W. Aus.), 3s. 6£d. A Firm Finish. The sales finished creditably. Whatever improvement was seen for good merinos lasted to tho finish, and_whilo we cannot | see the big advances that somo can, wa think that generally speaking 5 per cent, covers the average advance seen on "combing wools. Italy has been a very free buyer, taking considerable lines of good greasy merinos. Russia is now a very free buyer also of scoured merinos, and supplies here are none too large; in fact, they are on the short side. The latter half of the scries developed some irregularity in madium and faulty merinos, particularly scoureds, and this did not sell at such extremo prices as were seen during the first week of the auotions. Of course the trade at the present time is in an uncertain state, due to an increasing amount of combing .machinery now being employed by the Government. Even carbonising plants aro now also monopolised by Government work, the. result being that there is not that free market that one has been accustomed to see. In fact, not until presont pressing needs are out of tho way can it ho expected to see things move as freely as is tho case under normal conditions. Of courso the motive bohind the bulk of the buying that has been dono is the impression that free wool will etill be a saleable article throughout the entire trade, and it is to bo hoped that what has been bought'will find a freo and ready market, because there are fairly big weights to come forward during the coming months of this year. Conditions in Bradford. There is really no important change/ to note in Worstedopolis. The attendance on the Exchange last Monday was thinner than usual, and business relates chiefly to fine crossbreds and merinos. Notwithstanding that the Government offers to givo delivory of merino tops at ss. 3d. for warp 64's during May, there is a tendency on the part of topmakers owning free tops to remain very firm, and in view of London's verdict, there is nothing to bo had oheaper. The most surprising thing of all is tho irregularity noted in the position of Cape tops, us low as ss. Sd. being taken for short Capes, while ss. lid., and even 6s. has been paid for long warp tops. The turnover in wool is not, large, it being considered that merchants and middlemen will fare badly under the present Government scheme. The affiliated topmakers fully approvo of tho action of tho Government topniakers in their recommendations last Thursday, and the majority are quito ready to entertain wool. There are still fears that some spinners will bo compelled io stand owing to lack of tops. There 1b already considerable standing machinery on account of a lack of hands. Last Saturday tho Government issued a notico chut all sales of merino noils wore to stop, and anyone having slocks was to offer samo to tho Department. Tho move is generally understood to bo in the interests of Russia, where big weights of clean noils are wanted for military purposes. Censuß forms have been issued this week, and when the returns aro made up stocks of freo noils will bo iuund to bo exceedingly light.