OUR ENGLISH WOOL LETTER.

Otago Witness, Issue 2157, 27 June 1895, Page 16

OUR ENGLISH WOOL LETTER.

A FIRMER MARKET,

(From Our Special Correspondent.) London, May 11. This large distributing centre has again puG on a yuutbful appearance, and this week a creditable weight of wool has been cleared oft the spot. The character of the wools daily brought forward have boon such as to meet all the requirements of buyers, the best of the clips down to the extreme shabby, wasty, and burry parcels having been thrown on to the market. With a cantinued large attendance from all quarters, the first sale of the week, when Messrs Jaocmb, Son, and Co. submitted the real cream of the Australian clips, caused a very lively sitting to ensue, at which many of the deep-grown Victorian greasies sold at values fully on a pat with those current at last series, and when fche sales closed many said that if this spirit continued to prevail we should soon have values all pound on a full level with tho:e ruling in the April sales. American Buyers, while valuing their wools in the morn* ing, had had Ihtir appetites whetted with the excelli nee of these Victorian clips, and when they were brought to the hammer everyone had to f«ll back in the competition while they stepped ia and cleared the deck at erfcreme rates. Tasmanian wools, too, have experienced a s'rong call, and it was in this sale they marked a record for the whole of the realised lots this Bale, when a parcel of fine, strong ■ grown, greasy combing fetched the sum of lid. AH these wojl* of Tatirnnian growth have a very strong iuquiry, aud sold at values fully on a par with any ruling recently. The new olip from West Australia is now in, and some good quantities are being taken by toptnakers of both Bradford and the Continent, while the flannelmakera of Lwicishiro compote for all desiiabfe lots. Those wools are somewhat deceptive ia their yielding capacity, and Ameiican buytw, beicg unaccustomed to them, fi«ht a little Bhy ot | them. Adelaide? have so far not enjoyed that 1 strong which characterised (hem last safe. Withdrawals have been more general, but whore a good growth has been xnanifef>t YorkBhiremen have been good customers. Sydneys and Queenslands always hold their own wfecn the clips are anyway decent-, and the freedom from burr of the latter make thorn a popular favourite with the Yankees, who compete readily for the best wools. Croisbred Now Zealands have, as usual, found their chief 6upporters from Bradford, and where deep-grown wool* full of length and lustre have baen the predominant elements they have found buyer* e»g j r to pay last sales' quotations. Cape aud N*tal wo oh have this week been very conspicuous by their absence, but what fow bales have becu submitted have sold at opening quotations. Summing things up, I report that in the presence of more general competition — France and America having woke up— values for all good, well-grown parcels are on a level with the ruling rate 3of last ceries, while [ poor, Jooae, wasty, burry parcels are procurable at the opening decline of 5 per cent. ... * Sold by Messrs Charles Balnie and Co., May 1:—1 :— Waihuka : Givase— l3 balea A crossbred combing 7]d, CO B do 7id, 40 C do 7<l, 22 D'do GJd, 31 DA do mi, C crossbred combing 6H 8 do fijd, 10 do 6Jd. 3 damaged 6'id, 3 a crossbred lambs 71d, IP do pieces s}d, 2 locks 3Jd. A large flock, but only of a good average description. There was quantity, but not yielding weight when scoured. •Sold by Messrs Dv Croz, Doxat, and Co., May 2 : — D and Co over Morven Hills : Grease— 23 bales fust combing H Gd, 124 do withdrawn, 11 second combing H 6"d, 39 do withdrawn, 104 first clothing withdrawn, 11 second do 4Jd, 11 rams Gil, 12 broken fid. 42 do withdrawn, 28 scoured third pieces 13d, 10 bellies 12d, 7 locks lOd Scoured fared beflt. There is quality, but " milk " in tremendous quantity when scoured. I3H joined : Grease -4r> first crossbred combing iHd, 50 second [do 9d, 40 third do Bd, 55 Becond do long Sid, 101 third do Bid, 21 do damaged Sd. !15 crossbred first lainba Bd, 23 do pieces 6]d, 17 do bellies 5Jd, 6 locks 4jd. Up to the mark in every particular. ML over Whakapoui: Grease— 2s crossbred II 9d, 14 do BJd, 10 do Bd, 29 do 71 d, 4 do 7id, 8 do pieces sid, 1 do locks 4d. A tidy flock of wool. Hold by Messrs Willans and Overbury, May 4 :— Takapau : Greasy- 13 bales first crossbred super Bid, 16 do Bd, 32 do hojrgets 7Jd, 8 do E 8d; 10 second do.Bd, 14 first do7id. 28 second do 7Jil, o crossbred Bd, 20 do 7W, 17 do 7d, 13 first do piece* Cd. ' , „ Sold by Messrs Henry P. Hughe* and Soni, same day :— D over Kaikoura : Scoured— I<j tales halfbred combiog first 12Jd, 4 do lljd, 7 do second lid. 4 do first pieces-Od, 5 three-quaitcrbred combing first lid. 2 do second lOid, ldoi>ieces Urdb Bjd. Neided better scorning. ,«t. A. : Greasy-92 crossbrel A and B 6id, 39 do B OJd, 30 do. O 6W. 30 do 6d, 16 do pieces 4id, 11 do locks .W. Quantity, but, that'a all. ,«««». Sold by Mesara Jacomb, Bon, and Co , May o.—

Threo'Lags : Grease— lo6 bales hnlfbred ewes Rd, E0 do 73d. 63 do wethers SAd, 51 do ho^ets 73d, 51 do withdrawn, 73 crossbred hoggets 7? 1, 13 d* 7<l, 30 halfbred pieces E s|d, 20 do H sd, 11 crossbred do EJd. Sound and good. Branccpeth over Prince of Wale 3 feathers : Grease -1/ first combing crossbred Bd, 0 do 7*d, 9 wc^'id do H 73d, 14 do Sd, 39 third do BJd, 12 do II Bd. 63 Lincoln BJd, 29 lirst pieces crohsbicd C}d, 10 do OJ. Yorluhiremen would have it, for such wojl 13 profitable to the buyer and a credit to the grower. Bell over WAI MATE : Greasy— 23 halfbred E and W 7sd, 17 do W withdrawn, 33 do n withdrawn, 42 do E 7}d, 117 threoquarterbred E BJd, 58 do Bd. 25 do W 7d, 48 do H 7Jd, 93 do 7Jd, 17 Leicester E BJ, 18 do H 7|d, 6 do R7id. 10 Lincoln 7Jd, 17quartetb \ck W GJd, 24 first combiug (id, 6 second do sJri, 9 first clothmg 9id, 11 halfbred pieces 5Jd, 14 first do three-quarterbred 61d, 32 do sd, 7 pieces crossbred 5Jd, IB second do three-quarterbred Bid. There wa« a good average quality, growth good, but a little more condition in Borne lots would have been desirable. Still they are highly creditable. Sold by Messrs Buxton, Ronald, and Co., May 7 :— L Hin diamond : Greasy— ls bales A crossbred 7H 16 B doß}d, 24 C do Bd, 37 D do Sfl, 23 fir3t do pieces 6Jdi 52 second do 6Jd. Nice quality and fairly attractive. Matters in the Yorkshire wool districts may bo said to be on a full level with those ruling recently.- True it ib that the easier tendency of values repotted as ruling in London last week produced aa unsalubary effect in some sensitive, weak-kneed quarters, chiefly among those who were carrying tremendous stocks, but the firmer spirit shown and tbe»*united determined stand of Bradford dealers to budge not a single fraction from late values, renders the position of things in Yorkshire on a par with fate ruling quotations. And why should thiog* at all recede?. la the slight reaction from tin feverish anxiety to buy any sort of rubbish at; any price which characterised the d'jingsof U»t series to have any injurious effeob on good Bound trado ? Cettoiuly not. And were, values for tops in Bradford to ease down even a fraction, it wou'd proclaim to the whole world the suicidal policy adopted by Yorkshire wooldealers. Bub such is nob the case. Business is good ; there is a weekly large consumption, many combing factories running day and nighb. But it has been felt all along 'that last wool sales have always b:en above this market, aad it is therefore not very remirkable that the decline in London has not affecbed prices hore-in the least. At the best, \»ith all the big turnover wticu this last two months has seen effected, margins are very small ; and when wo cai sidor that we ate paying advances in Londoa and paying the cost of combine, and selling at f 1 om 16J to 17d for a 60s top, it can readily be f een that there cau be very little money in wool ne the present time to allow of 'any further eaciilice baing made. Colonial readers will learn, with iu'orest that the statempnts showing the value of declared exports from the consular district of Bradford to the United States for the psEt mouth are still very encouraging ; and although the figures are in some retnects r.-.ther Jo.s satisfactory than those ot the prcoftling three months, yob they nevertheless show an enormcus increase- 562 per cent. -upon tUa corresponding period of last year, and of aim jsb exaolly 50 per cent, upon the corresponding period of 1893. The total value of exports for Apiil *re £398,570, whilst Ibat of April 189* was £70,843, showing the grand" increase of £327,727. The chief items of increase areStuff Roods, £98 665; worsted coatings, £102,076; wool in the raw st*te, £40,272; wooll"!) goods, £38 256 ; worsted and mohair yarns, £13,085; rovings, £-852; mohair, £227 L; and topn, £1472. ,Cape mohair is bti'l iv the clouds, buyfw being unable hardly to tomb, ib ab 17d per lb. Alpaca io iv the same unique position. The tone of the business in the yarn maricot continues fairly good. Taere is still considerable difficulty experict cnl by sp'u> era in obtaining prices which are commons rate ■with the cost of the raw material. Spiuua-3 ere, however, Well under contract wi'h few exceptions, and maintain their quotations with considerable firmness. The export denfand is well maintained, and merchuirs find ib hard to place orders at labt week's rates. In mohair yarn spinnerß have again put up tleir prices, and business is restricted in consequence. The Home trade spinner* are keeping better employed, with prices hardening. Manufacturers of piece goods continue to maiht*in a decided firmness in their quotations, many of them being very busy indeed.