OUR LONDON WOOL LETTER.

Otago Witness, Issue 2203, 21 May 1896, Page 6

OUR LONDON WOOL LETTER.

(Fiiom Oub Special Cobbesponbent.) Bradford, March 27. A UNIQUE RECORD. In bringing this series of tales to a olose, one cannot do better than give precedence to tha pen of the well-known firm of selling brokers, Messrs Burton, Ronald, and Co. In theie circular to me they slate: — "Prices for mi-rino wool, as compartd with closing January currency, showed a rise on the opening day of fully 5 to 10 per cent, on gre&sy, and par to 5 per cent, on tcoureds. Within a week the extend of thij improvement had been doubled. The iaj[>r vrMnenb had been mosb conspicuous on mid )iug to fair d-acriptioas, which often ranged between 10 and 15 per cc-nb. above last series' quotations Superior claoses, on tha other hand, began ab-ub 5 per cent, lower, bub partially regained the position previously occupied. During the concluding week a further burdening movement aeb ia, which confirmed the full riso of 10 to 15 p«r cent., and left prices at their best point. The following schedule of comparative values refers to some of the leading clasnes :—: —

Sold quantity, about 189,000 bales; export absorbed of this about 111,000 bales, or 58 per cent., inclusive of about 2300 bales for America. " Australasian wools provided a desirable as« soi-itupntofgo'-d middling rl-i-a- p. I'.N w South Wales produce the grenle^ pr porttonate advanea was secured on bright eastern and lofti light Lachlau and UppsrLachlan wools of really five quality, which ruled Id to 1£ dearer. Queeualnnds of good combing character and condition ruled for the most part id to Id, and! closed Id dearer, wastier parcels moving up ii per Ib. Weitern Australians shared in the rise to tho extent of a good £d per Ib. New Ze&lauds were only scantily catalogued, bu6 met with excellent support at id to Id advance

Bcourei?, middling to fair parcel*, worth last ' tiruß Is l£d to Is 3d, now brought 2il ptr lb more AH pieces wera kesuly competed for tt l^d to 2d abovo laut sale's currency, whilst locks were in extremely active demand at an advance of 2d to 3d per lb. In- regard to New Zealand crossbreds, fine qualities were generally about par lb dearer, thus practically reverting to best January currency, whilst ligbtcondit'oned shabby parcela marked a rise of J 1 to Id per lb over the close of l&st series. Slipas of fine quality were in excellent rt quest at a rise of -£d, whereas coarser gradts wera firm at the best January prices. Scoureds showed xeUtively less change than grease. j " South African wools shared to some extent from the beginning in the improved stat-5 of the market,' and filled a still better place as the Bales progressed. Good greasy combing wool, - which opened about §d dearer, marked a rise of Jd to Id per lb by the end of the first week, and maintained its position pretty steadily up to the end. Short wool of good breed and condition was about £d and wasty parcels -^d to £d | dearer, Scoured middling Algoa Bay shipments were about •£<!, dcy Kiffrarians a full and falty do -£d to Id above January sales. Natila were icarce, and brought fivro ll£d to 13d pec lb. "It i» some years since wool has rcoup'ed so strong a position as it does lo day, Tho de- , vek'pment of the market has been unusually rapid and interesting, and viewed from the standpoint of the d ffn-ent sections of buyers, is quite ineligible. The unwonted eagerness displayed by cjntinental and chiefly by German bu>ern at this rarly period of the year, and at a time when direct importations from Australia costing 20 to 30 per cent, less than current London values are plentiful, is a feature meriting attention. ° The question oi supply is cvi jen'ly more easily gauged in London than in the colonies. Trade is generally good, but it has been better in Germany than elsewhere, nnd as the advance in the taw material has meantime outrnn the course of values for goods and yarns in manufacturing centres, the decided quietness of American markets has helped to produce a feeling of caution both in France and in this c >uutry." i The third series Begins on April 28, fourth leries on June 30, and fifth on September 22. Sold by Meisrs Henry P. Huphes aud Sons, .March 14:-Tpkoi: Greasy— 4 biles combing A super 10id, 6 do H IOJd. 30 do 10J, 32 do B 9d. 21 do C fljd, 4 do D 9Jd, 6 pieces A hopgtit-! 9Jd, 46 do 9d, 13 do B Sd. I find written across my valuation catalogue the one word, " splendid." Hstngatoro: Greasy -66 three-quarterbied A ewes iOd, 18 do W 10id, 33 do H IOJd, 74 do B lOd, 17 do W IOJd, 47 do H 9Jd, 127 do 9Jd, 5 crossbred firßt W 5).Jd. 11 dosccind do 9Jd, 9do third do 9Jd, 9 do lOd, 13 do 9d, 66 do hoggets 9J, 5 half bred A 9Jd, 22 do B ewes lOi, 10 do W 9Jd, 35 crossbred lamb's fir-it IOJd, 15 do Bi'l, 30 do pieces firdt E 9d, 23 do H BJd ; 32 crossbred billies B<l. Setfom does one see such a large quintity co uniform in character as this brand showed. JHK over Invercargill: Scoured — 10 halfbred combing 12d, 10 three- quarterbred do lljd, 4 crossbred do I2i<i, 38 do lljd, 8 do lambs lid, 7 do pieces 9id, 31 do 9Jd, 12 do staiued 7H 10 clothing A 12d. bold •' hy - Messrs Buxton, Ronald and Co, March 16 :— Matamata : Greasy —10 biles super lulfbred combing' lOd, 19 first do lOd, 19 second do IOJd, 56 fir*t crossbred 10d, 64 crossbred lOd, 114 do 9id, 52 do 9d, 51 first crossbred pieces 9d. 48 do 8R 22 do bellies 7Jdr Up to the ma*k for Bradford in every respect. JNW in diamond : Greasy-8 A crossbred Hid, 16 B do 11jd.24d0 10id, 52 C do lid. 73 do 10£ d, 3 F do lOd, 14 crossbred pieces 9d v 13 do belließ Bd, 44 first do lambs lid, 12 second do BJd. This is the best clip so far off -red. Sold by Messrs Dv Croz-Doxat, March 18:— Stonyhuist : Greasy — 42 bales first combing 9Jd, 39 sdjon-1 combing Bid, 11 piece- BJd, 5 do 6Jd, 7 bellies 6Jd, 45 three-ciuarterbred first H 9id, 27 three-quarterbred second 9d,23 Lincoln 9Jd. Good and shafty. J and JR : 16 Lincoln II 9id, 39 do '9d. Sold by Messrs Willaus and O^erbury, same day :— N.Z. and A L. Co. over Clydeva^e : Greasy —15 bales combing quarterbr^-d 9JI. 9 do balfbred 9Jd, 47 do croi«b>-ed lOd, 44 do 9id, 6 <io 91, 9do Leicester 10J. SamebrandoverEde.ndale : t-Jre^sy— 7 quaiterhred lOd, 13 <-o übing halfbred 10§d, 15 do lOd, 8 do crossbred lOd, 26 do 9id, 7 do 9.1, 3 pieces halfbred 9d, 8 crossbred 9£d. Same brsnd over Hik^teramei : Greasy: 11 combing 91- 1, sdo 9d, 35 comMnß balfbred 10J, 8 do lOd, 11 do PR 4 broken halfbred 9.1, 4 do crossbred 9Jd ; scouied— 5 16d, 7 15J, 6 halfbred withdrawn, 33 ornbing cro" bred 14d. All these clips were in fitst class order aud sold readily. tSo'd by Messrs Jacomb, Son, and C'>., March 20:— ''kiiae over V: Greasy<*-47 A Lincoln 9d, 23 B do Sid, 43 C do 9d, 45 A Romnev 91, 2 A neck> Bd, 6' pieces 7d, 3 bellies crossbred 6d. Just an average clip. Flab Point: Grease — 6halfbrel combing lOJcl, 8 do clothing IOJd, 15 do 9Jd, 5 ihvee-quarterbred first combing 9£d, 5 do second do 9Jd, 9 do third do 9^l, 30 do clothing 9Jd, 9 Lincila first rombing 9Jd, 10 do ?econd do 9.Yd, 23 do clothing 9}d, 14 do lOd, 21 do 9£ 1, 6 first crossbred 9d, 6 second do 9Jd, 21 do 9 j. A uniform good clip. " Appr iach with caution, aim straight, and keep cool," is indeed the present language of the Bradford wool market. Many woolmen of Worbtedopolis have returned from the London eal p 8 to gaze upon a different spectacle to what they tbere witnes«ed. It must be said that Bradford at least has net caught the wool ferer. She finds new bnsiness ratber of a tardy natere, and to some extent stands amazed at the position of things in London. Hence men here loaded with new stock seem to consider it at present the wisest policy not to force things on to the market, not to bring too mncta pressure to bear upon operators, but to qoute straight their demands,, and show as little concern as possible when givea the verdict. " Too dear." The waDt of buoyancy on this market is attributable, to a great extent, to the total absence of important baying transactions from tho United States. It it well understood here that the present existing slowness is directly traceable to the stagnation of the export goods market, and it is, therefore, not at all surprisinf that values .should rise so slowly. In fact, there is nothing near that amount doing to bring prices on a par with London. But it is most significant that "direct" im-

porters from Australia are having a Sue time of it even under the present existing circuraftanpes. The writer, talking to one this moroing, elicited the confrssiooal fact that their bouse was doing remarkably well with their colonial bought wool. Tops are to-day worth a penny more per lb than a month ago, and those who can bring them in to cost a figure on a level with Bradford'n ideas can sell readily ; but the great maj 'l'ity who aie sailing under London's fl»g find thf mielves unable to meet succes» fully the one sided competition of direct importers, who are p-actically keeping going the present diminished dennnds of consumers. This effectually cripples what would necessarily mean values on a par here with metropolitan ratea. In English descriptions there is more inquiry for biijht hjggv, while demi 1 istron are only partially w-*.nt d. Likewise in Smth American descriptions sticks of l*te hive boon much depleted at full current value 3. In. mohair there is little doing, bat prices are steady. In yarns there is a moderate trade doing, principally on Homo account, bat spinners would welcome au accession of orders from export' merchants. Manufacturers of fancy dns* goods are busy, but the partial fall off for America still continues.

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