LONDON WOOL SALES.

Marlborough Express, Volume XLII, Issue 216, 11 September 1908, Page 2

LONDON WOOL SALES.

PRICES WEAKER.

LONDON,4.JuIy 31. The week's work in Coleman Street has again been characterised by considerable activity, though there has been decided evidence that values are weaker. I never thought that the buying strength of the first two weeks —good as it was—could maintain tne keen pace to the finish, there being signs of weakness in crossgreds towards the end of last week. Monday's sale settled the point outright, withdrawals being heavy both in merinos and crossbreds. After a lortnight's hard work, many Yorkshire buyers went home for the week-end, consequently last Monday s sale was rather thinly attended. Everything to my mind went the turn cheaper, with the exception of a few special lots ot grease meYinos, Continental buyers still purchasing these at good figures. All through' the series buyers have filled their orders with considerable freedom, but when the pressure was over they settled down to buy wool at more or less reasonable values. This was especially so by the Americans, for directly the one-man show was over, medium crossbreds declined a full penny. It was practically the bidding of one buyer and his taking every lot of medium crossbreds that led other Americans to force his hfind by "trotting" him, and directly his wants were supplied they lowered their values considerably. Throughout the wfcek the' catalogues have been very big ones, some good, straight lines being submitted. There has also been offered a lot of odds and ends, speculators' lots, and these have not sold; so freely as last week. Practically speaking, merinos have lost 5 per cent, with the exception of good average

straight lots of comb-ing grease, but faulty lots, whether grease or scoured, are not now making any more than March parity." _ Crossbreds have continued to bulk heavily, and these, too, have experienced perhaps most of the reaction. Fine qualities have seldom made more than full March parity, medium and coarse appreciating the most the first fortnight; All through »the week mediums have been fetching a penny less for American sorts, while regular Bradford topmakers' wools have soid at id to id less than last week. With- ) -drawals have been more numerous, , though competition has continued good. IMPURITIES IN WOOL. , , At the end of last week the full committee dealing with the vexed ' ques^ tion of vegetable matter in wool met a*: Dalgety's offices, and although1 not much practical business resulted, we saw how things actually stood. Nothing really tangible can be now expected until 100 new bales, winch are being tested on. Brie Brie and Caramut stations, in Victoria, come to London filled with wool. These two new bales are simply a paper-lined one, and an ordinary jute one made by a London firm of spinners, which so far has met with the approval of the committee. What this body wants to find is a jute bale with a perfectly clean inside, but so far not a great deal of success has attended their efforts. The one at present being tested is certainly a very good one, I but some think it is too much like f canvas, and will not carry as it should <10. The chairman favors a trial of jute bales which have been singed, but1 ! am afraid that the fibre will break j loose when the wool comes to be pack- ; ed and friction is again brought to bear on the inside. A Melbourne woolman who attended, expressed the j candid opinion that a good deal of the mischief was caused not by the woolbale itself, but by the rough suage and the cutting open in the wool lofts ; in London. There is no doubt that: the treatment there could be sensibly j ameliorated. The more bales are cut j open and. the more the edges are j liable to fray. At the same time the i committee pointed out that their' chief [ concern was to find a bale with a per- i fectly smooth inside, so that the I myriads of loose bits of fibre could not ; rub off on to the wool. Long; bits ,of j string can be seen and picked out by j the sorter, and if these get into 5a | Wend then it is absolute carelessness. lii ; other words, if topmakers will only be more careful in sorting, and ■a ' ■sniooth inside can be got, then it Us j certain that the jute evil can be en- ! tirely abolished. The Melbourne i gsntleman present advocated the! adoption of wool being shown in Lon- j don like it is in Australia. In Lon- \ •don every bale* of a lot is shown, j whereas in Australia only a portion ; of a lot is exhibited. Then he con- j tended that if GoldsboroUgh, Mort and i Co.'s latest method for fastening on : the top of the bale was adopted; it i would, do away with cutting, alto- j gether, but I hardly think that the! committee is as yet prepared to go so | far until it can find the new jute bale j that is wanted. I

that is wanted. i I Sold by Messrs H. Schwartze and j Co., July 22. Tyntesfield: Grsy. 35 j A 10£ d; 12 DH 10d; 24 B 9id; 4 BH ! 9d; 4 C 9d; 14 Ist pcs. 9d; 10 bellies |'. 7d; 3 i-bd. B£d; 2 do. Ist pcs. 7d; 9 ' <30. lambs 7Jd; 7 do. L do. 7£d; 4 ; .scrd. pcs. 17d; 7 do. locks withdrawn. I Rather fatty, but well grown and j good. j Sold by Messrsi Thomas and Cook, s. same day.—Hermitage: Scrd. 3 sup. I i-bd. LSd; 8 do., do., 17d; 2 Ist do. | 16id; 6 2nd do. 14d ; 19 do. pcs. 15£ d; ■ 3 Ist do. 15d; 2 2nd do. lid; 2 S do. ; 13d; 7 sup. do. bellies 14 Jo*; 3 do. { locks 12d. Hillersden: Grsy. 27 AA i com. lOd; 20 A do. 10Jd; 41 do. do., j lOd; 40 do., do., B£d; 12 B do. 9id; I 15 do. B|d: 10 Ist pcs..9d; 13 A J-bd. ; 9£d j 9 do. 9Jd; 8 A f-bd. 9d; 7 B do. j Bd. Very good length,. 60's, and very f useful. j Sold by Messrs Charles Balme and i Co., July 27.—J&D: Grse. 16 A com. 9d; 4 C do. 8d; 15 f-bd. withdrawn; 27 do., do., B£d; 12 do., do., withdrawn; 12 do., do., 8d; 39 do., do., withdrawn; 9 2nd do. 6|d; 4 do., do., Sd: 14 crsbd. do. 7d: 28 do., do., 6|d; 17 do., do., 6d; 21 2nd do., do., sfd; 6 scrd. do. pcs. 4d.

LOWERING PRICES. London and Bradford will not tie up at all, and the situation in the. premier consuming centre is depressing. These are not exaggerated words, but a plain, unvarnished state- j ment of actual facts. All through the j current series of sales Bradford has j remained as callous and indifferent as possible, and the effect of the brisk- j ness of Coleman , Street upon Worstedopolis is absolutely nil. All through the series there has been growing increasing scepticism concerning the standing of the raw material as revealed in London, users here de- | termining not to take Coleman Street | a& any criterion in deciding their actions. There is no question of a doubt about every quality being worse to-day than a fortnight ago, and tho reported weakness in London has had tlie effect of causing an all-round reduction of id per Ib, bth in merinos and crossbreds. The 23£rl which top- j makers were asking in self-defence for B ihaiP siipgr 60's has been reduced to I

I 23d, and 10£ d will buy any quantity ' o': good standard 40's tops. The ■missing link continues to be the pronounced slackness of trade, busiu?es& everywhere being decidedly quiet. 'It, is really surprising what a spirit of indifference prevails tp all outside factors/ and the free American buying !ol the past tew weeks looks like fizzling out. Only a continuance oi | export demand can prevent things from becoming cheaper, and the imme- . diate future is being looked forward Ito with some misgiving. The, only , business passing is tor very small quanj tities, no spinner buying any bulk whatever. There seems to be about this centre no encouraging feature whatever, trade everywhere being remarkably quiet, and short time is increasing, and not diminishing. Crossbreds seem to be in a worse position than merinos, even the briskness of the first fortnight in London bringing out; no increase of yarn contracts. Reports from Germany are still very unsatisfactory, there being offers mado which if accepted would only mean a decided loss to spinners. There is anything but a confident feeling in the market, many fearing further weakness -with the holidays approaching. In merinos there is a fair weight of yarns being spun, but stocks are accumulating, particularly in whites, and some recent contracts accepted show that spinning margins have entirely gone. Mohair is marking time, although more' speculative purchases hiive been made both at Constantinople and the Cape at\ practically the t lowest prices yet accepted. Yarn j spinners complain bitterly at the ab--1 Aence of trade.