LONDON WOOL SALES.

Marlborough Express, Volume XLV, Issue 63, 15 March 1911, Page 3

LONDON WOOL SALES.

IMPROVEMENT IN MERINOS MAINTAINED.

WEA ENESS IN CROSSBREDS

[feom our coubespondens:.] MMQN, Feb. 3. b The wool s&les continue to make progress, and althought this is the third week, yet there is no evidence of a diminution in interest or a ralling~off in competition. This seems; to many to be a long drawn-out series, the three days' fog causing the sales to go into next week, but so long as there is a demand for the raw material merchants and selling brokers are justified in selling the last bale. This is not the time of the year when a large carry-over is justified, although I.must admit that I,thought it would be found1 necessary to carry forward something like 20,000 bales. That now hardly looks likely. Nothing will inspire the trade with renewed confidence like clean swept boards, and only about five weeks will have to elapse before the trade again meets in. Coleman Street. . . . As the series advance competition gets keener, and more people are in the market for the raw material. In previous letters I have drawn special attention to the fact that the Continental section, especially French buyers, have been all along very reserved. This is rather to be regretted, but it is easy of explanation. I hear this week from Roubaix to the effect that they have bought fairly heavily in Australia, and that the trade is so unnerved with the late serious fall in futures that they prefer to deal with their Colonial imports in preference to further increasing their financial obligations. This no doubt is sound business policy, «md under the circumstances it is perhaps, the best for French buyers to lift their direct arrivals, and do no more than they are forced in Oolemian Street. At the same time they have operated on a trifle. larger scale during the. past week than they did 'during1 the first ten days of the series, and their competition is invaluable for the finehaired topmaking wools. Owing to the system of combing that is seen in France, they can use a shorter stapled wool than Bradford or even Germany, for the principal pkrt of, their work consists in the production of dry combed tops for mule spun purposes, and even bellies and pieces can be turned to better account in France than in Bradford. I have heard of good locks being put to combing, and if they can handle these, then they can beat Worstedopolis. At the same time I hardly think that much of that class of wool will be used for combing purposes. All the same, the shabbier - portions of a clip are in no sense out of place among French topmakeors, hence their'competition is all the more valuable at a time like the present. COURSE OF PRICES. I cannot say that the market shows any upward tendency compared with the close of last week, but all the same values are well maintained at\ the best level of the series. The improvement on the opening week' is certainly considerable, and amounts to fully" 5 per cent., but for the time being operators seem to have reached their limits, and are not prepared to go further. Nobody can find fault at this, for judging by the opening it looked as ir we were in for a by no means creditable series. However, things, ha-fe turned out better than expected, and this week's sales havo been characterised by a firm tone, merinos maintaining well the better position of last week: South Australian wools have been offered in fair quantities, and I am glad to say that there has been no giving way. On the Avhole the selection has been good, and the home trade have continued to <?ive a long way the best support. I am glad this is so, for without doubt the wools are the most suited for home topmaking purposes. Russia continues to buy' somo nice lines of scoureds, but after all the most support is forthcoming ,on account of Bradford topmakers. The buying resources of the home trade" seem to be unlimited, and it is really surprising, in view of the heavy direct imports, that they ehculd have bought in the liberal way they have. It all serves to show that the raw material is wanted, otherwise they wouldl never have purchased like they have. The selection on the whole has been and that no doubt has had a good deal to do in causing competition to be so well maintained. I feel I cannot do better than show readers what improvement has taken place, and in the table below I give some clips which we're offered the first week of the series, a portion also being offered last week or this. Where possible I give particulars of what the same clip sold for at the November series, hence the reader will see clearly the course of the market:—

AOoA (N.S.W. WOOL.)

The position of crossbreds is somewhat similar to merinos. America continues to operate on just an average scale, although the quantity of wool in the aggregate does not amount to a great deal. Still, they are taking some nice light conditioned lots, but we are not seeing paid the prices which were in evidence at the corresponding series twelve months ago. It was no uncommon thing a year ago .to see up to 16d paid for very light-con ditio'ned New Zealand half-breds, but this series 14d is a very exceptional price, a shilling being mere an average, with 13d to 14d for An.erica. The home trade, as might bo expected, is taking the bulk of the crossbreds, and for the ordinary topmaking wools there is hardly the extreme prices paid' which we saw last week. Bradford seems as if it wants the wool, but at a shade less money. I have been surprised all along at

them ' paying the prices they have, particularly for coarse qualities, and all last week tops could' not be made under 13|d, whereas I know for a fact well-known topmakers could not possibly make a fraction more than 13ia. It seems to me that before the season gets much further advanced we shall have crossbreds a shade lower than what they are to-day, for the trade is not running upon strong qualities. When one section of the trade has to practically lift 85 to 90 per cent, of the offerings, it is really a wonder that prices have been so well maintained but seemingly some people have faith in the, future of wool values, consequently they are still buying freely. HEALTHY CONDITIONS IN BRADFORD.

Turning to consuming centres, it is a real pleasure to be able to report a continuajice of the splendid .manufacturing conditions which have obtained all through the past, year in Bradford and district. We have little hesitation in saying that Worstedopolis has saved, and is still saving, the present situation. It has been the writer's privilege during the past three weeks to discuss the various aspects of £he trade with both French and German buyers, and all alike affirm that conditions with them are nothing near so healthy as they are in Yorkshire. Whatever may be the state of trade on the Continent, we are certain that so far as the WestRiding is concerned, conditions could not be better. Perhaps there is hardily that pressure that one saw during last year, simply because many orders have been held back by buyers of yarns and pieces in the hope that prices would beccme more reasonable. But machinery is still running as quickly and as long'hours as was the case all last year, and I do not know of any mill that is quiet. There is still a demand for hands in practically all departments, and if order-sheets are not so full as they have been, still every firm has enough to do. The decline in tops has afforded spinners a splendid opportunity of being able to b'iiy to better advantage, and many have done so. LEADING CLIPS SOLD. Sold by Messrs Charles Balme und Co., January 26.—Leefield: Grse. 7HA com. 12d; 3 B do., Hid;-8 AA do., 12* d'; 57 A do., 12Jd; 428,d0. 12d; 6 IS do., lOd; 21 Ist. pcs. 9d; 9.bellies, withdrawn; 30 A *-bd. com. 13d: 15 Bdo., do., 133; A Edo., do., 12d; 17 A do., do., 33d; 26 do., do., -do., 12d; 15 B do., do., 12d; 11 do., do., do., lid; 8 BB do., do., 10* d; 10 B do., do., lOd; 6 Ist do. pcs., 9d; 5 do., do., do., B£d; 7 do., do., do., 7gd; 8 do. bellies, 7£d. Sold by Messrs Jacomb, Son and Co., same day.—Half circle/diamond1: Grse. 4 A crsbd.H, 10£ d; 14 do., do., W, Hid; 13 do., do., E., 10£ d; 29 B do., lOd; 31 do., do., lOd; 41 C do., 10d; 12 D do., 9*d'; 14 E do., 9£d; 9 do . do. 9H; 13 Ist do. pcs., 8d; 4 2nd1 do. do., 7jd; 11 do. bellies, 7d. GGC; Grse. 5 Ist £-b., 12£ d; 10 |-bd., IHd; 12 do., lO^d; 26 do., 10H; 9 2nd do., lOd; 13 Ist crsbd'., lid; 24 do., do., 10£ d; 41 do., do., 10; 14 2nd do., 10* d; 24 do., do.. 10d; 8 do.. 9d; 12 do., Ist pcs., 9d; 8 do. 2nd do., 7fd; 13 do. bellies, 7Jd; 6 do. locks, s£d. Avondale, Marlborough: Grse. 13 Ist com. cn;bk., 13£ d; 6 do., do., do., 12id- 8 2nd do., do., 12d; 21 Ist com. i-bd., 13Jd; 13 do., do., do., 13d; 10 2nd do., do., ll|d; 9 do., do., do., lOd; 17 clo. do., 9d; 9 Ist com. 1-b., 10d; 13 2nd do., do., lOd; 9 do., do., do., 9d; 16 elp. do., 9£d; 17 do., do., 9d.

Sold by Messrs H. iP. Hughes and Sons, January 31.—Ihimgree: Grsy. 100 Ist. oom., 12d; 2 2nd do., 12d; 6 do., 9*d; 3 Ist pcs., lUd; 22 Ist £-bd. 13Jd; 52 do., do., 15d; 4 scrd. merino Scs., 18d; 2 do-, do., lambs, 14d; 2 o. 4-bd., lfijd; 4 do., do. pcs., 18d•5 do., do . 13id. '

i iiii is "S m* ►jr <D CO oa * C! Grease super combing 14 12£ 13 „ 1st combing 14 11$ 12 „ 2nd combing 13 10£ 11$. „ skirts ... 9J-10 9 9^ „ broken ... 9J 9 9^ „ pieces ... 7J 6} 7 „ bellies ... 1\ e} 6i „ locks ... 4} 3| 4| BELTANA (S.A. WOOJ.). Grease A combing ... 9-| 9 9J „ 1st combing ... 8^-9 8J 9 „ 1st combing ... 8| 8 8J B combing ... 8 bid 7J 7 „ 1st pieces ... 7£-7f 7 7 • „ feellies ... — 6 6} „ 1st lambs ... 8£ 7 7 MORTLOCK OVER 2 IN CIRCLE (S.A. WOOL). Grease A combing ... 12 10 10-J „ B combing ... 10£ 9 9 „ C combing ... 9|. 8J 8^ „ 1st pieces ... 10 8J 9 „ bellies ... 8J 6| 1\ CROSSBREDS SLIGHTLY EASIER,