LONDON WOOL SALES

New Zealand Times, Volume LXXI, Issue 4300, 8 March 1901, Page 2

LONDON WOOL SALES

PRICES A LITTLE WEAK. (From Our Special Correspondent.) LONDON, January 25. The sittings of the wool trade have proceeded hpace, the daily sales not being marked by anything extraordinary, save the sad blow which has befallen the nation by, the death of the Queen. This incident of itself has been sufficient to affect everything, casting a gloom over the entire market. A noble Queen, a good Queen, a motherly Queen —the whole world to-day y-.fhc poorer by her absence. Before a"very full room, every day's sale has passed off with very good spirit, tho chief operators being the home trade, and Germany. Up to tiro beginning of this week the hardening tendency noted in my last letter became more pronounced, and for tho best conditioned, wellgrown, shafty metrinos, both in grease and scoured, the rise was fully id above last sales’ rates, with an occasional Id when a special brand was on offer. Such clips as are grown in the western part of Victoria, Adelaides from the south-east-ern part of the'colony, New South Wales, England wools, and also good, clean scourods from Queensland, have all sold at a most commendable rate at the best prices cf the series; but when we come to only medium wools, and those lacking character and yield, competition has slackened, causing prices to recede in many cases—the worse the wools the more’ irregular is the bidding. 'lt is rather disappointing, but it shows the real state of tho market, and only confirms the fear expressed last week of the trade being somewhat indifferent, prudence and caution dominating thq entire situation. Bradford market has failed absolutely to respond to London’s voice, and as prices are reported worse, together with Continental futures being lower day after day, it has rather tended to upset tho market. The same irregular teudelncy has affected fine New Zealand crossbreds, which arei down at last sales’ rates, while coaffee qualities are no better, though the best lets are, helped when American buyers are bidding. In South African wools, also, the opening advance has lacked confirmation, especially in short, heavy, six-months' wools, scoured selling the best. In the presence of ample supplies thelre is no wonder that the trade shows extra discrimination.

Sold by Messrs H. I r noil and Co., January 17; 1

E and B: 67 greasy crossbred, s',d; 11 do do lambfS, withdrawn. These lambs were not by any means bad 1 wools, but some improvement in quality is desirable.

OZ : 2 greasy crossbred, Cid. Waitangi: Scoured, 1 crossbred, 7-.UI; sdo pieces, s£d; 20 do CH, CJd f 3do halfbred locks, (Id; 4 crossbred lambs, ojd. RT/Keretaunga: Scoured, 2 halfbred S 0, 4jd; 4 crossbred Ist, 6jd; 5 three-quarter-bred Ist, s|d. 11; 2 greasy /crossbred, sjd. Rangixm : 2 greasy crossbred, 4;|d; jW/C: 9 greasy crossbred, 4Jd. Katirawa ; 2 greasy crossbred, sid. TB;* 2 greasy crossbred, 4;|d. HH: 1 slipc Ist merino, 7d; 2 do Ist Leicester, 6d; 2 washed.crossbred, 6d; 2 greasy do, od; 2 scoured halfbred Ist pieces, 7 jd; 3do crossbred looks, sd. In iicnd of these clips was there anything of special order or merit. The prices made are rather low, but no single dip will turn bixt a top of more than 40’s quality, and as the pfico is only at 9jjd, men cannot afford to give any more. Waingawa/HW/W: 3 slipe crossbred, 7d; 11 do do, 6d; 2 washed do, 6d; 2 do, sd. “Poor, shattery wools.. . Sold by Messrs Thomas and Cook, January 22:

Lyndon: Greasy—C2 Ist halfbred E, 9d; 46 2nd do do, 8«; 11 three-quarter bred H, 6Sd; 15 do., 7id; 6 seven-eighths bred, G-Jd; 5 Leicester, 6d; 2 scoured sup com, 14,jd; 2 do clo, 13d; 4 do l S pieces, 12£d; 6 bellies, 13Id; 8 locks, lldj 9 com halfbred, 13d; 11 do do, 12M; 12 do, 11 Jd ; 11 cbm crossbred, Hid; 4 do do, Bjd; 2 Leicester; 7jd; 10 halfbred pieces, withdrawn: 11 2nd do do, 9-i-d; 2 crossbred do, 9ld; 4do do, 9;d; 10 halfbred bellies, 12d; 7 crossbred do, 12d; 7 halfbred locks, 9|d; 3 crossbred do, Bid. For crossbreds these: were about the best that have been offered thife series. The first few lots, particularly, were excellelnt. There was both quality and condition of a very 'good order.

WMECo/: Slipe—B Ist com crossbred, 7-Jd; 39 do do, B do, 6jd; 72 do, do O do, 6jd; 52 do, do do do, 26d; 4 2na do B do, 6’d : 21 de, do C do,' old; 2 B crossbred, 6d; 11 0 do, s»d; 4,lst Ado dp, 81 d: 2 do, fid; 13 Ist A lambs do, 7sd: sdoC do do, 6jd ; 4do do do do, 6d; 6 do, do-, 61; 30 washed pieces, od; 8 do, db crossbred, old ; 6do lambs do, sid; 3 do 2nd do , do, 5Jd. These wools were not by any means a bad line, though somei of the latter lots were wasty and poor. This can be put up with when the first lots cf the clip are good.- ■ Wool to-day in Bradford is hesitating, halting, and, like a stupid horse, refuses to go forward. No doubt the national calamity has had a somewhat depressing effect upon the market, but we attach very little importance to the present circumstances, as sentiment has to some extent taken the place of reason. Much as we sorrow at this moment over the dread outlook as it affects the throne of England, yet the present circumstances are being made the most of by those who have another axe to grind, namely, that of getting down the values of tops, and at this We feel a little non-plussed. We desire earnestly to put on record that thtere is in Bradford a certain clique that seems to revel in the art of “bearing” down the market, and during the past week they have done their level best to discount the show of life that has been manifest in London. The fact is, the sales opened just a little too lively for those who have contracts made at low figures, and their abstention from buying has helped the impression to gain ground that values are not so firm as they werei during the first three days of the sales. In no sense whatever has the Bradford market responded to London, and while values are certainly higher at the'distributing, centre than here, there is, if anything, no tightening of forces, no sticking out for better values, but an actual offering by spinners of less prices thaiij what obtained before! the sales hogpn. This is grievous, if the . truth is told, and topmakers are in a quandary, not knowing what to do. There is no doubt that the present available quantities of wool have frightened a good number, and the fear noted last week of the trade not being able to absorb at present values' the stocks in London has become more accentuated than otherwise, and this has caused the outlook to deepen in so far as it affects Bradford. The price of 60’s tops is not in harmony with tha prices ruling in London, but, nevertheless, we hope the good tone already displayed will continue to the end. If values can be kept up to the finish as have prevailed during the opening week, it will he a wonderful achievement, and this is wanted at the moment if the Bradford market, and even other centres, are to be saved. A strictly waiting policy is being adopted until men see what will be the ultimate outcome of the sales. i .