DALGETY AND CO.

Evening Post, Volume CVIII, Issue 119, 15 November 1929, Page 18

DALGETY AND CO.

Messrs. Dalgety and Co., Ltd., report:—Much interest was evinced ill the first sale of the 1929-30 season, lield in Wellington yesterday. Owing to inclement weather, early showing was retarded, which accounted for the small offering of 8000 bales. Generally, growth, col* our, and soundness of the wools submitted was hardly up to the standard of last year's offering at the November sales. Many clips were thin and unevenly grown, and lacked density and character. It. was also noticeable that the majority of the Romney cross wools catalogued were inclined to be finer than those submitted at the same sale last year. Considering the past and present state of the textile trade throughout the world's manufacturing centres, it Is satisfactory lobe able to report that rates ruling for crossbreds at our first sale were considerably in- advance of brokers' values, and when comparing yesterday's local prices with closing prices at September-October London sales, "a satisfactory appreciation is recorded, when allowance is made for the difference between selling and shipping charges between London and the Dominion, amounting to l%d per lb in favour' of the latter. A comparison; of the last London,sales with tho Wellington! November sale for average fine breds is interesting:— London. Wellington. Sept.-Oct. Nov., 1929. ■18/50 11% to 13% 11% to 13 ■J6/48 ' -11% to 13% 11% to'l3 44/46 .11 to 12% 11 to 12% 40/44 .....:... 10% to 12 10% to 11% Clearances effected at to-day's sale were much in excess of anticipations, 90 per cent, of the catalogue being sold. The heavy disposals prove that growers generally had made themselves conversant with the real state of the textile trade both at Home and on the Continent. Last season the buying trade was faced with grave difficulties, as at no period of the wool year was confidence a strong feature in wool-using centres, and tho result of their year's trading cannot have left much, if any, profit. NERVOUS MARKETS. Overseas markets, even at the lower range of values as now established, aro still nervous, and many months may" pass before any steady and solid improvement is recorded In the textile trade. Yesterday's offering was small, and not sufficient to thoroughly test the market. Our principal buyers of crossbreds, Braford, were quiet, and bought very sparingly. Germany was also subdued, and appeared to be content to allow other sections of the trade to do the purchasing; they bought very little. France, Kussia", and Tasmania .were the largest operators, and their competition was responsible for tho successful sale. America took a few of the super classes of fine and medium crossbreds,; local mills were not\ eager buyers, and even the few lines of good' half-breds and merinos offered did not tempt them to bid up to a reasonable price. M was quite evident that Bradford and German limits 'were low, as compared with those held by France and Russia. We would have liked to have/seen more general competition at yesterday's sale, and it is a little disturbing to find the English section, our largest buyers, holding aloof at the commencement of the season. Considering the present state of the wool trade, prices for crossbreds at our first sale seem to us to be satisfactory, and the present outlook hardly warrants any expectation for prices of crossbreds to eventually improve In the near future. The offering of merinos and half-brcus at this sale was altogether too .small to give any Indication of Sue market value, but still it does seem as if the. finer ' wools are not going to command the same competition as the coarser styles. Fashion plays an important part in the demand for wool, and determines values, but it is many years since the: price of a 46 quality was so close to a 60/64. We'offered 1450 bales, and sold 1320. In Romn'eys we sold the wellknown brands,. Fernlca, JTH/Mairc, Eastry, and Branscombe at 14yd. These clips being light in condition, well grown, and sound. A small parcel of merino from Marlborough GHB mate 14',4d and IS/id; in fine halfbreds Fyvie made 14% d. ' Some of our. principal realisations are as under s— - ■ ' Crossbred.—Opau 13% d and. 12% d, HK/K lid, Clunyhills 12% d, WFM/NZ/TB & 9 13% d, 12% d, . and 13% d, 3/WO 12d, GHP :..13%d, Waiplpi 12d, Nuiwal 13y-d, JOG 12d. WP/H 13d, - Arata 12% d, JW/Rakahul 13d, Woodvalol2%d, ARII 12yd, KH/O, 11%' d, TSM/K 12yd, Branscombe 13d,-,TW/Aotea 13d,. Waimea lOd, JP/R 10yd, ATl'll%d,,jq/Pungatawa 12yd, WC/U 12% d, AC/Stoneycreek' 02% d, CEV/Pukenui U%d, FG/FalrtiurnlklSftd, Milnes ll%d. The Giyn ll'/'d, BWP IIV-d, KW lid. Hoggets.-^Fernlea 14% d, MAC 10 % A, MXV 13d, MAM- 12yd, LAGP 12% d, AIP 12% d, JDG 12%d,'WP/H 13yd, HK/K 12yd, Clunyhills 13yd, JG/Parkvale 13d, Opau 12yd, Gloniffer 12d. MRC 13yd, Lea/Linton liyTd, RTP lid, EWC 12yd, 3x3 13d/CBROS/CTN 12yd, AKH 12% d, Kawlu 12% d, JW/Rakanul HV-d, RWT/M U%d, Branscombe 14yd and 13% d, AH/PN 13d, FW/Aotea ll%d, Arata 12V>d Waimeav 10/%d;-KMK/M. 13% d, Harp ll%d, HN 12»4<J qnd ll%d, WC/P 12d, CD/Ratanui ll%d. Dove: 12% d, DMM/P liy.d, WC/U 12% d, CEV/Pukenui- 12d, FG/Fairaurn liy.d Glenside 12d, Milnes ll?id, Tutu/Totara 123 id BWP ll%d, RB/S 12yd, KW.lO%d. Crutchings.—ELß Bd, JH/Iwlroa 9y.d, Ketu 7%d, Tutu/Totara 8.% d, M/Fernlea 9?4d, Eas--try 9%d. MURRAY/TIOBERTS; AND, CO. Messrs. Murray, Roberts, and Co., Ltd., and Johnston and <Co.'s catalogue consisted of 973 bales, principally- early >shorn Romney and crossbreds;, a few -odd lots of merino and halfbred . wool - were • catalogued, but beyond the local mills few buyers were interested in them, and it. is therefore impossible to give any reliable quotations gor them. There were many attractive lines of, crossbred wool shown, but generally speakings these were not equal to those offered in"1 the: November catalogue of last year. ■■ There was not the bloom or showy appearance of 'last; "season's •■' wools, nor were they as- well .grown, the- staple being, often shortand the ->bbr Inclined 'to thinness; many of the wools of 48-50^s quality showed tenderness In more or,.less degree. There were very few lots of quality. below 46's, and pfactically -no wools .of.: 40-44's quality were in evidence. The/sale opened with considerable spirit, but Bradford buyers were not participating at all -keenly, possibly because the average, of the wools shown was unsuitable. French and Russian operators were very keen on all suitable lots, and Australian buyers bought a:large quantity of the best type of crossbred wools. , FACING THE MARKET. Generally speaking, growers were prepared to tace the market at the lower' values arid good clearances .were made, a few lots here and there being passed In on account of high reserves for the owner. We offered very few lines of good skirtings, but the few'lots catalogued met with good competition from • the Continental buyers. Crutchlngs were in very good request, and prices for these show very little, if any, change from the values realised at our sale in August last. The passed-in lots in our catalogue amounted to about 100 bales. We quote sorao of our realisations as follow:—TK In diamond, crossbred hoggets, 12d; Tarakeit, crossbred hoggets, ll¥.d; ? Bi - M?5?- rS> R?mne* --W;A., 14-id, Romney L.A., 13% d, Romney H.A. 13% d, Romney E.W.B. 14yd, pieces lOd, bellies 8d; GA/ .Tlpua, crossbred hoggets, 121 Ad; M.ikoitl, crossbred W., lid; ES over Parorangi. Romney H>- A\ol 4l' 2d '. Romney W.A. 15yd, Romney W.B. 12% d, pieces 9>/ 4 d; WS/Waihlnga, Romney H.A., 13%;. S■& Sons, Parorangi Romney H.A. 14yd,-Romney E.A. 13yd Romney W. 12% d, pieces 9'Ad; AGM, Romnov H.A., 13',id; JHR over Teroairo, crossbred H. & E., ll%d; EES over Mahoa, Romnoy R.H. 12yd, Romney W. 13d; L. Bros., crossbred, 10% d; C 2, crossbred, lid; Rewa Rewa crossbred H. 12yd; Mellington, flno crossbred AAH 12 yd, fine crossbred A.H. 13V-d, crossbred A.W. 12d, crossbred B.W. 12d; HPC. Romney H., 12% d; JB, fine crossbred 12yd, crossbred U%d; HV/R, crossbred. AA, 12% d; ■Whangaimoana, crossbred hoggets, ll%d; Kumenga, crossbred E.W.8., 12?4d; AMK, crossbred hoggets, 12% d; AH., fine crossbred A

13' Ad, fine cross B 10?4d; DH/L, crossbred hoggets 12d, crossbred E. & R. ll%d; THY, Eoraney E., 12$£d; Richmond, Romney hoggets, 12d; Papakura, crossbred, 10»«d; Abbotsford, crossbred A.H., 13% d; JH, fine crossbred A HUd, crossbred B 10% d; G within shield, sup. fine crossbred, AAH 13V.d- HT over Plkihuia, flne crossbred A.H." 12% d, crossbred H.B. 12d, crossbred A.E. I3^.d first pieces 10'y4d; Koromlko, crossbred a" 12' Ad, crossbred B lid; TAU, crossbred W l°Wd* Etna, crossbred A, 12d.