OUR LONDON WOOL LETTER. (From Our Own Correspondent.) London, October 4.

Otago Witness, Issue 2179, 28 November 1895, Page 6

OUR LONDON WOOL LETTER. (From Our Own Correspondent.) London, October 4.

CONTINUED ACTIVITY. Amid all the fray in wool matters the sales at the Woal Exchange in Coleman street have progressed satisfactorily. Agreeably to all parties concerned, *nd ako with anticipation, each sitting has been characterised by very large attendances, tho home trade and the Continent being «spec*atly conspicuous by their presence. To say the kaet, the present state of trads has placed buyers in that happy posi-« tiou of nob being content with limited or meagre, purchases, conseqiently everyone has manifested a been dexira to get aomething. As ihe week progre.-sed, it soon became very evident that values — always a littlo wavering at the opening— had now become ettoled, and me» were rouid to bo eager buyers at very full open ing rale?, South Afric.in prodiica being thu only exception. Coining to more precise detail, greasy Australian marinos hate undoubtedly shown a great rebound from the very low rates current at earlier aucfctant. This is (speciilly so with what may be called good middling combing wools. In firab-class greasy merinos, which in July were taken so rreely for America at from 9d to 10£ d, tho advance does nob exceed^ mo: c than %d, while wools usually felling at from 6£d to 7£d havß moved up Id to l£d par lb. These remarks apply to the whole range of Australian and New [Zealand merino growths, and therefore exclude tho necessity r'cr individual reference. Scoureds of the best style at Is 3d lut series are to-diy in active demand at l-£d advance, wbilit ever} thing of a lowor standard whe-ro body r.ud shaft in'ess is naamfest is 2d dearer. Good pieces ia particular b'ave felt the improvement substantially, and locks of good condition are aUo Id bo l-^d higher. LoskiDg at New Zealand crorsbred, a fine scene is presented iv the saleroom wbea a flock is t>eiog offered. Buyers most "ravenously" bid for tbem, Yorkshire men especially manifesting extraordinary eagerness to have them. In consequence of this strong demand, fine growths are selling at Id higher, middling crossbreds Id to l£d, and coarse gradeß are dearer to the ei-t-.nt ef l£d to 2d. ' Sliped wools, which are a feature of this series, have sold very -well at a .rise of Id on middling to fair and l|d to 2don coarse parcels. South African descriptions, which opened at an average of 10 per'ceafc. advance, weat up another 5 for good shafty combing grease during the first wcbk of the sale ; but offerings ir>cre*sing, values since have slightly receded. Combing grease to-day is only £d dearer, while six lnoiiths' clips are only £d higher. Bulky western ecoureds and easterns boo bring to-day Id more than in July, whilo the bet Kaffrarian fl-ieces of good body and shaft have advanced Buying on American account is nearly nil. Sold by Mes3is Henry P. Hushes and Song, September 2o :— O : Scoured — 42 bales combui"' lßkl, 31 do 15d, 140 do 14 W, 57 piece 3 141 d, 13 do HD 14d, C do D ]3}d, 23 locks lid, 6 do lOd, 34 halfbrcd super 15.U1, 8 do US 15d, 1G do UL 14} d, 13 do UN Hid. 12 do Ui' 11R 8 doUWl4d, 4 quurterbred 15VJ, 41 crossbred A 15d, 28 do A 14Jd, 29 do B and C 14d, sdo D 13J J, 94 halfbred

pieces B 13Jd, 22 do DL 13Jd, 120 do D 13d, 8 do - 13d, 27 do IOJd, 37 do locks 9d, 19 three-quarter-bred pieces I3d, 55 do 12Jd, 14 crossbred pieces D 12d, 5 do lid, 2do locks 9d. Otago : Greasy— 2s ■ Leicester lid, £0 three-quarterbred lid, 24 do lldj 23 do IOJd, 35 halfbred 10d, 35 do IOJd, 12 fine quarterbred 9d, 22 crossbred 9J. Sold by Messrs Dv Croz, Doxat, and Co., same day I:—JPoverP1 :— JPoverP : Grease— 36 bales crossbred lid, 29 do Ifd. 25 do UJd, 11 do lambs OJd, 9 do 9J. Cawood :40 crossbred lid. HY : Grease -17 halfbred ldd, fi9 do Sid, 85 do 9.1, 21 cro3bbi-ed IOJd, 77 do l(kl, 34 do 9Jd, 36 do 9i|, 5 threequarterbred IGJd, 15 crossbred loDg-10£d, 6 do 10J, fi Lincoln 10J, 2 Downs Bid. Raincliffe : Grease— 4o first CombingA9d, 15doS.i, 1(5 do clothing Sd, 5 dopieces 73d, 6 B pices 6Jd, 33 half bred first combing IOJd, 18 do H 9Jd, 26 crosbred combing H lOd, 74 do 10 Jd, 17 do second combing H 10d, 35 do 10J-I, 13 do third combing 10id, 21 crosshrel 9d, 15.d0 lid, 10 do first pieces Bsd, 18 do B 7£d, 14 crossbred scoured pieces lid, 3 half bred scoured first combing 13d. Sold by Messrs H Schwartze and Co., September 27 :—JH over Wairua : Scoured— 33 bales halfbred super 153, 40 do first 14Vd, 35 do 13d, 20 cro3.-bred first 14id, 11 do 14d, tj Leicester first 14Jd 9 do 13Jd, 22 halfbred 12£ d, 12 crossbred C 12d, 31 halfbred pucss 12J1, 15 crossbred do 13d, 10 halfbred do l£d. IG do Hid. Sold by Meosra John Hoare and Co , September 28:-llG in diamond over L : Grease— lo bales first A h.«lfbied combing lljd, 15 do IOJd, 10 second do lid, 19 do lOd, !> fir^t co3abre<i combing lid, 33 do IOJd, 12 do 15 lid, 6 do 1 d, G second do lOid, 54 do B lOd, 27 first A threequarterbred combing 12d, 13 second do HAd ; acoured— 22 fiist halfbred combing 15i, 25 do crossbred 14d, 11 first thiee.nuarterbred do 14id, 5 pieces 13Jd, 13 cio&sbred do 13d, 12 second do lid, 17 third do 10J, 28 bellies J2Jd. Sold by Messrs H. Irwcll and Co., same day :—: — Kinoull : Grease— B6 bales halfbred super 9}d, 69 crossbred lid, 11 do BJd, 27 three-qiurterbred Hid, 8 Leicester lid. Butterley over II : 10 halfbred lid, 67 do lOd, 5 do BJd, 35 crossbred lid, 6 first do IOJd, 2 do 10J. Horseshoe :15 halfbred IOJd, 57 cro«bred IOJd, 5 do lCd, 26 thrcaquarterbred Hid, 6 Leicester lid, 3 broken Sd. Sold by Meesrs Charles Balme and Co, September 30 :— JH over Wairua : Scoured — 32 bales first talfbred combing 14d, 31 do 14Jd, 33 do ISJd, 14 super halfbred 15J, 24 first halfbred 14d, 18 do 33Jd,.6 first crossbred 131 d, 14 halfbred pieces 13d, 3LeiceßterdoLSid Ktretu : Grease— 67 Acombing .Sid, 66 do 9.1, 61 B do BJd, 00 do Bd, 20 C do 73d, . 33 damaged Bd. Kaiwara : 38 first combing 9Jd, £9 Sicond do Bid, 5 clothing Bid 16 fiist pieces 9d, 7 scoured combingl4£d, 10 bellies lid. Sold by Messr3 Jacomb, Son, and Co., Octobsr I:—Blandford1 :— Blandford over APA : Grease -81 bales super half bre i IOJd, 70 do crossbred lid, C(5 first do lid. Nithßd ale over RMA. : Giease-07 halfbred lid, 26 crossbred lid, C 5 first do lljd, 14 cro-sbred , pieceß 9d. RW over Gore : Scoured— 17 halfbrod combing 17Jd, 10 second do 18d, 10 third do 17d, 9 first combing crossbred 15d, 6 Leicester fleece I4&d ; slipe— 6 first halfbred 12<3, 18 do crossbied lljd. 25 do three-quait rbred IOJd, 11 halfbred Jambs 13d. j All these clips can only be described as excellent, j and commanded full market values. The "very decided attitude of the London sales has had a salutary effect on the Yorkshire trade. It cannot be said that the great advance chronicled has in anjwise astounded the Bradford wool market, for the rise had been fully prophesied on all hands. The position of affairs in London seem to me a mirror in which ib reflected the real attitude of affairs ss existing to-day in every manufacturing district of Yorkshire, and the effect of London ruling values is to be seen in the home wool ' market in staplers' bands being strengthened, all fevei-ishness being removed, and a thorough consolidating of all values in every department of the textile trade being established. Kocewed confidence has been established, and present vnloes resting entirely on a consumption foundation, their existence is considered fully assured. While London prices may be considered ob 'a' full level with Bradford rate", ' transactions so far are not taking place here at any higher figure than those previously ruling at the commencement of the London auctions, - and . while men are willing to operate at very full current rates, they resent all overtures for a further advance. But as an indication of how prices have gone up let us compare the rates prevailing for yarns at the beginning of the —present year with the condition of affairs today. This will then afford both home and colonial readers some solid ground on which to base their own calculations. At the close of 1894 single 'J35" derui-lustres sold here at 6* 3d per gross ; they now realise Qt. Single 30-40 super lustre to-day sells at 13s 3d ; In December last the price was 8s 9d. Two-foid 32 weft, wh : ch at the end of 1894 was sold at Is s|d, has gone up &£d per lb, aud twofold 40 weft has increased to about a similar extent. Coming to mohair and alpaca, -we find a marked change. In December last single 40 >■ alpaca sold at 12s per gross ; to-day an. advance of no less than 8s per gross is demaded. The value of single 40 super alpaca has increased equally so. Two-fold 32 white mohair yarns are now 2s per lb dearer as compared with the price asked in December lust, and the same is fthe case with regard to two-fold 32 light grey "mohair ; whilst an advance of 3s per groes is demanded on 30 suyer weft. The rise m the rate of raw material has, of course, been the cius3 of some of this increase in the price of yarns for growers and staplers, and spinners have not been slow to make the most of their opportunities, and duiing the past threa months rates have in some instances more than doubled. In the ezporb trade for yarns there is more inquiry for yarns and les3 hesitation in paying Bpinnera-'-- prices than we have had lately. I/ustrea are exceedingly firm, but not quotably dearer than last week. For two-folds there is slightly b§tter demand, and spinners are commanding, full prices. In mohairs there is business at advanced prices if spinneis can take orders for early delivery, and alpacas are also dearer. In' pieces" the antumn trade is materially interfered witja by the late, fine weather, but manufacturers do not feel this, as they are Very busy executing orders for the coming •' Spring.

*■ Bullion to the value of £2500 was shipped Wm Auckland by the Tasmania for LondoQ,