LONDON WOOL SALES

Dominion, Volume 13, Issue 57, 1 December 1919, Page 10

LONDON WOOL SALES

ALL-ROUND ADVANCE FOR WOOL (From Our Sneiiial Correspondent./ London, September IS. Another series of London sales commenced last Monday. There was a large attendance of buyers, numerous representatives from America, and the Continent being present. It ie quite evident that the removal of restrictions on export is giving no little encouragement to outside buyers, and since the sales opened these have contributed not a. little to tho maintenance of values. Anticipations regarding the sales h'avo been largely realised, for opening values have been fully maintained on the. basis established in Liverpool, particularly for tho besfel merino and crossbred combing wools. Continental and American buyers wero largely responsible for tho excellent, prices pawl for merinos. It is understood that the best fine wools aro very scarce across the Atlantic, and nl- ■ together inadequate to supply prospective needs, but there has not yet been much chance to buy such wools out of the current scries. Business across the Atlantic seems to have been very quite lately, but machinery is well employed, and'those who have been operating in London are evidently making preparation for future needs. The preaching of economy does not yd seem o have had much effect anywhere, and it apparentlv Temains for countries on Hie Continent to strengthen tho demand for the lover quality goods, which it seems necessary should be introduced. With 'regard to buying on Central European account in London it is not likely that a great deal will bo done during the present series. Tho financial si nation is too difficult, and there a Mi.™ to expect that the general disposition particularly on account of direct bmin" will 1» to wait till values show some "indication of becoming more reasonable. German and American j\ lβ could take very large BUJiP'if> 0™ « thev can make any financial arrange-nu-nto the opportunity will no doubt be taken At the time of writing, liower, the best prospects for operating he with Franco ami Belgium, and neutral conntrU These have taken full advantage of the scope afforded, faulty carbonising merinos selling at very firm rates.

Topmakers Avoiding Risks. The market situation has been dominated this week by tho fact. that the combin" operatives haw rejected tho offer made by the Woolcombing Employes' Federation. Topmakers have already quite as much business on .homo trade account as they can cope with, and uiilo's there is an early alteration export trade in this commodity will either have to develop on new lines or be lost. Values aro nominally unchanged, and tie great scarcity of botany qualities available for spot delivery continue, these being unobtainable. . Medium and low crossbreds show some irregularity, a difference of ponce per lb. being nohceable in the various quotations, \Wilcll are forthcoming. The Jiizhff prices are largely protective, topmakers not being p'eim ed to take any risks regarding he future If the present tendency in the local combing industry continues, it may l>o expected that more wool will be sent to the Continent to be combed. It is understood that dry combed .tops from tho Continent are already being offeicd in this market. , Spinners nro greatly handicapped by the scarcity of tops, this fact preventing them from seriously considering any new business which may bo about.. There is no lack of this, particularly in botany qualities, but the 'only possible course at present is to await developments.

Combing Operatives Refuse to Work Overtime.

Last week it was mentioned * hat the Woolcombing Employers' Fe'lerat'on had drown up a scheme of increased payment to operatives, and for increasing the output of top?. The whole of tho proposals were placed before a meeting of the members of tho National Society of Machine Wool Combers on Sunday. 11ns nicelinsf was largely attendel, and a long discission took place, with tho result mei tioiied above. It is understood that the cpnatives are not willing on. any account to work overtime. This result is quite contrary to tho one hoped for, and there is now littlo prospect of any increase in the output of tops in Bradford being secured. The whole circumstances are discreditable in the extreme, for after all th.it may be said about the desirability of improved working conditions it is impossible- to get over tho fact that increased output is tho great need of the moment. It may be added that another operatives' organisation—The Wool, Yarn, mid Warehousemen's Union —accepted the employers' offer by a small majority, and it will bo interesting vo see what further developments take jCire. Tho whole- tendency witn TCgnni. to working liouvs : s deplorable. Operatives in the Lancashire cotton trade aro only working 2J hours on Saturday mornings, though'it "is understood that somo of the older operatives are not at all enamoured with the arrangement. Speaking of the Bradford trade it seems fo be the- younger employees who aro mostly in favour of reduced working hours, and tho policy which i* being pursued on the Continent i<: not likely'to encourage an incr?n«ed production in this country. A 45-hour working week has already been granted in Hclllind, the Government not being stioug enough to refuse it. German Combing Offers.

The pessibility of Bradford firms having tops combed on the Continent has again been brought to the front by the recoipt of a German combing tariff by firms in this centre. The document is an interesting one, havin? been written in French, presumably for the benerit of piss ; blo clients. T'ho result is that the wf-m.Jig is sometimes somewhat otaure, and something is left to tho practical 'judgment of anyone who may possibly 1-0 interested in. getting combing done in Germany due to tho absence of facilities at home. The. document alw affords an example of German pushfulness, and there will l>B no cause for wonder if more firms in Bradford are constrained to take advantage of the. opportunity offered. The ohnrge for combing merino qualities is little more than 10d. per lb. reckoning the mark nt its normal \alue, but the vato of exchange is such that the actual price U only itbn-it 2Jd., and in view of the difference between combin? diargea in Bradford, nnj The possibility of selling top 3 on the Continent, the 'offer ie very tempting. It is, of course, recognised that the Jevelopment (it our own export trado depends more on being ablo' to send lops and ynrns out of Uic country than raw wool, but the combing situation is so acute, and so unlikely'to improve, that there will Iμ little cause far wonder if extensive development.? on the above lines take l.ilr.iT. The operatives in the Bradford •AT.ii'.-eom'liin? industry will bo the parlie- to suffer most. Firms wishing to '■«ll the tops at home, though greatly tempted by the tiariff, are tlrnkin? about Ihe )M)!.sibility of export restrictions bpiitjr imposed in Germany, in , the event r-?'\hiVli it nrght eventually bo found difficult to get tlwi resultant lops buck again to this country. Homo Grov/n Wools.

It has recently been remarked, (lint .Hritish wools' of the deep qualities lmvo not Ijrpii moving freely off this market, and recent piircfisises in Ih« country hiivo rome. as a confirmation of this statempnt. There is re,ison to l>Dlicvo, however, Unit ovciils v. ill takp a more favourable turn, hut in the meantime it has been reported tJinL prices iwiliswl «t rccnnl: sales for ilcej) gruwn wools liavo barely conio up to previous rates. Deep wools of Irish !>r<\vl!i, Ihon-jli <l : sposcd of in fair wp'jjlils, liavß barely iii<iinbunp<l Ilio rereni niiction lcvpl," bolli washed nnd itirasy v()u's lieinß iiiTi'fteil. 'I'lie iiiuiieliinto' Cftusi! of»th'n slislit de.elension in these deep wools has lipoh the alisPiice of cempetition, lui'lie witlulrawals lukms plai'O at. the. sale held i» 15u"l>lin last H-fplc. 11 :.•■! Hill noticeable that anything of a pod Down chiinu-ter --ell at verv full niles. Blnckfaecd wools ore compiiriilivoly more popular '■'•<.\n Seoldi, f'lievint, or other i.-lnsses. In I lip lOn?lish wool trade washed Cheviot wools have, been bought in tho country around fllid niiil lintvnslinl 30d., wjished blaekI'jipo 17d., unwashed lfid.. llerdwieks lfid. I'iond Down- are still I he inogt popular pnnimuilily in Urndford. Inquiries are fortlicHin'iig, but il is impossible to supply llipjii all. Norfolk and other comparatively deep flasws of Downs lire available' but "the demand for them is comparatively small. 'I'lii , merchants are very p.ii'licular what they buy in this |

line, and will not take anything which is even sl-'ghlly below the standard. Welsh fleeces lire «lso wanted. Fine lamb is the nici.t popular of tho skin wools, deep sorts being neglected.