OUR LONDON WOOL LETTER.

Otago Witness, Issue 2202, 14 May 1896, Page 6

OUR LONDON WOOL LETTER.

Oob Special Correspondent ) London, March 13. FURTHER ENHANCED VALUES. * Splendid ! " \ Such a term can only adequately convey to colonial readers of this columu just a faint idea of the progress which has been made in wool matters during the past week. The record is indeed unique. From beginning till time of writing, the market has continued to harden.; Competition is most keen, and co far as the average rnn of merino quality it concerned the advance on fair to good' combing wool is now fully 10 per cent. Let as for a moment cogu.-iu; aud go into detail, All New South Waks wools are distinctly dearer., Bright shafty combing io l s in good condition, at 10 d to lid, are %d to Id, and middling parcels pretty free from burrs a good Id above January rates. Queensland^ of good body and in fair condition, nt 9 J to 9£ 1, are likewise eagerly competed for at if- .'i on average over lait sales' currency. New Zealands have not yet been freely catalogued, but have shared in the improvement of £d per lb on all the rather wattiur classes. Iv crof>sbrede there has indeed been aVferisker inquiry than seemed likely a few weeks back. The basis of values for theie is a full £d better than at the olose of January, the improvement being mest conspicuous on middling lots of rather shabby appetrance. Sliped parcels, scantily catalogued, are juft the turn dearer. In regard to scoureJs, the market is exceptionally strong. The best wools at lsJsd and above in January have moved up from £d to Id, while middling descriptions are ' l£d dearer, and the eaine remark applies to all more or less faulty lots worth last time from 12d to 13£ d. All pieces and looks, whether scoured or ' greasy, are eagerly competed for at the full advance of 10 per cenb. South African wool*, which began par to 5 per cent., are now 5 to 10 per cent, above list sales' rates. Here, again, the improvement is most marked on middling to good combing grease, whioh is jd, whereas short and waitier lots are about £d dearer. In regard to scoureds, good to superior Westerns at Is 5d are about stationary, but on medium Easterns and Midland wools at lid to ll^d last time the rise is about £d, while on the less conditioned descriptions it is quite Fleeces, chiefly of Kvffrarian native assortment, are to jA dearer, and in good demand. There iB great activity on Continental account, YorkBhire is pegging away nicely, while America remains only flat. Sold by Messrs Henry P. Hngbes and Sons, March 5 :— CWover Lansdowoe : Greasy— 24 bales combing A lOd, 7 do hogget 9d, 10 do B 9d, 4 do H 9d, 13 do F H 2 first pieces 9d, 7 do second Bid, 7 do B 7Jd. A really first-class clip. BB : Sline— 30 combing II lOd, 13 do 9Jd, 5 do 9d, 33 halfbred lOd, (1 do 9d, 40 tuiee-quarierbred 10d, 28 cross- ■ bred lOd, 14 do second 9d, These were splendid, and sold most readily. WBR over II : Greasy— 21 crossbred ewe firat and second lOJd, 14 do W feecond fl}d, fi do H do fljd, 27 do E third 9Jd, 7 do W do 9R 9 do H do 9d, 16 do W do BJcl, 5 do H 'do 9d, 23 do E 9d, 11 do WBid. 8 seveneighthbred BJd,- 10 three-quarterbrod 9d, 9do second 8&d, Bdo third BJd, 7 do E BJd, 21 halfbred H 9}.1, 7 do W Did, 8 do 9d, J3 'do E 9d, 21 do W BJd, 21 do H 81d, 12 do'H seqpad Bd, 11 do W do Bd, 1$ do E do 7H 7 dVW do Hi, 7 crossbred, pieces 7Jd, 9 do

helließ 7Jd, 7 halfbred pieces 7d,7 do bellies 6Jd. This was a large and excellent clip, got up in a manner as is seldom seen ; highly creditable, as prices realised indicate. Apley : Greasy -35 ciossbre.l first 10} d, 27 do second 10.1, 15 do A9K 11 do9d. It Lmcoln lOd, 44 do 9Jd, 11 crossbred S 9d, 22 do lambs first 9Jd, 10 do second SJd, 18 do pieces Bd, do B 7Jd. Wanting nothing. Sold by Mes3ra Willans and Overbury, March 6 : — NZ and A Land Co over Paroora : Greasy — 5 bales combing halfbred lOd, 33 do crossbred 9H, 21 do Pd, 21 do 9Jd, 12 do Lincoln 9Jd. Same brand over Moeraki : Greasy 6 combing crossbred 9d, 8 crcsbred 9id, 18 combing Lincoln 9Jd, 12 do 9d. Twp very useful brands for Yorkshiremen. JH between . Mount Vernon : Greasy — 22 combing halfbred A lOJd, 65 do three-quarfcerbred A lOd, 11 do B lOJd, 121 first combing cros&bred A Hid, 51 do B lOJd, 11 second do 10J, 12 do 9J.1, 36 first piecea cro-abred 9d, 20 second do BJd, 2J bailies crossbred 7Jd, 23 first lambs crossbred lOd, 7 fcecond do BJd. llanks well among the first of Nevr Zealand clips. Sold by Messrs Jacomb, Son, and Co , March 9 : EW in diamond over Gore : Scoured — 12 b»les first combing 181, 11 third do I7d, 2 comhing 15d, 5 bellies 16d, 5 second ptece3 16J, 21 first combing halfbred 18d. 7 second do 17d, 15 third do 15id, 3 first combiDg quarterbred 17d, 16 do cro*«bred ]51d, 20 do B 14d, 6 A do 14d. 5 B do 12Jd, 10 Leicester 124 d, 4 bellies crossbred 14$ d, 8 second pieces do Hid, 5 third do 13d, 14 locks 104, 4 brands lid. ibis firm is certainly adept at their job. Every lot is well done. S -Id by Messrs ßuxton, Ronald, and Co., garch 10 i— NZ and A Land Co over Levels : Grease— 34 bales fi«st hi' yd combing lid, 18 do H lOJd, 20 do 10d, 26 fir..i or . -b ed combing 10 1, 60do9id, 16 second do lOd, 41 do 9^1, 16 Lincoln and Leicester 9d. s halfbred broken Bd. To Apiti : »-rease— 15 crossbred lOd, 118 do 9id, 26 do 9d, 7 first do pieces BJd, 18 do Bd, 10 first crossbred lambu 9Jd, 30 second do Bid, 3 third do 7d. Fen Court N Z Waikato in'' horseshoe over A A Co: Grease— l 3 first halfb ed combing E 10R 3i do W lOd, 11 do H lOd, 14 second do fljd, 12 first crossbred combing B 10(1, 34 do 9id, 47 do H 10J, 76 do W 9Jd, 52 second crossbred combing E lOd, 24 do W 9d, 48 do H lOd, 10 three-quarterbred lOd. AH these clips were in the pink of perfection and sold readily.

Taking an all- round view of wool as it stands in Worstedopolis, sne can truly say it occupies a good middling position. The strong renewal of confidence in the future well-being of the staple, as evidenced by the' course of events in Louden, has made itself noticeable in the Yorkshire market. Thera is a healthier tone throughout, which is largely based on the feeling that rate* will be higher before lower, and that tbe operations of buyers will be subsequently enlarged. Consumers have at la*t awakened to the fact that they cannot afford to gamble on their duplicate business of a, month ago; the majority know full well their tru*. posit : on, and how topmen reilly stand, and teeiug the trend of the market was all against them, and finding topmakers opeu to do business, a large weight has recently changed hands. But, best of all, values are to-day moving at about jjrd above prices ruling a month back for merinos and £<1 for crosshreds. Bub while holder* are doing their level best to bring Bradford values on a par with London, it is felt in some sound quarters that consumers at present are their own worst enemy, and are surely making a mistake in not anticipating a further improvement, and thus leading them to opertvte further at the fractional advance asked by holders this week. The market as a whole is slowly improving, and will continue to improve jush in proportion as stocks between the woolman and the manufacturer continue to keep low. Tbrre is a fairly good call for tops of a medium character both in merinos and cro^sbreds. The belief is also very »<<rong that the fashion for bright goods is here to stay yet awhile ; and tnobair, keeping remarkably steady and strong, tpnds to put tbe ecrew on good lustre wools, .and thus prospects for croflsbreds are considered again' fairly bright. The flight improvement noticeable for Home-grown wools is becoming gradually more apparent, partirularly for bright welhere. Yarn spinners are likewise in better form. There has b^en a good weight put through of late in the export department, and spinners in jrome instances have put up their price* for twofold 32's and 40'g. There is also considerably more doing in super lustre yarns. The Botany trade is perhaps a HtUe qnieter, chiefly owing to tho greatly diminished (knund for worsted coalings, and spinners here are complaining, prices not being lo their taste. In mobair yarns there in a large busi8688 doing, and prices are tending upwards. No change in prices. - « Rates Declining.

The' Nationnl Mortgage and Agency Company received the following cable advice from London on the 6th met., :—": — " Crossbred wool (all descriptions) show a decline of £4 per lb on last sales' closing rates. Merino wool (all descriptions) show a decline of 10 psr cent, on last sales' closing rates. The present price of New Zealand mutton is Is 5d to 2* 2d per stone. The market is glutted."