OUR LONDON WOOL LETTER.

Otago Witness, Issue 2209, 2 July 1896, Page 6

OUR LONDON WOOL LETTER.

i (FaOM Our Special Correspondent.) ■ | A STEADY WEEK'S WORK. ' London, May 7. Whatever may be said of other consuming wool centres, it is certain that London, with its gigantic .distributing capacity, remains pretty well intacb, and is well prepared, to-day to give to colonial growers of the article a creditable accc-unt'6f her latest doings." While this week nothing has transpired of an extraordinary character, it is satisfactory to be able to chronicle a continuance of a. sufficiently strong demand, which is of itself unquestionable evidence of the real, sound, solid state of the .wool trade generally, 'and of its ability to de»l 'effectively with the clips of squatters sent here for rea'.isatiou. From a statistical standpoint the wool trade was never better, and with practio&lly bare stocks at home, dealers are at work replacing them, ia firm anticipation of. a. better home

trade before long. Looking more minutely at the relative position of the various' grades offered this week, it is now - practically demonstrated that, in the case of. good ordinary shafty, - merino 'clips, where a good respectable growth and moderate freedom from burr and waste is jmani-, fest, values are about.on a par with last sale* closing rates. In the average Queensland dips the same prices are being made as was paid last March, but where there its the tendenoy to run. a bit wasty, the fractional drop comes in. 1 The same applies to New, England* wools. and to Western Australian clips. There "continues to be a strong demand from the continental section for the good average merino descriptions, and France having thrown off her partial reserve, at the opening, has added strength to tha competition. For all faulty, wasty descriptions there continues to be an irregular demand, bub it must be remembered that it was on these grades that the relatively biggest rise took place last series. > Crossbreds of the finer descriptions 'find buyers still at 5 per eetit. lesis ; lustrous 'strong qualities meet with strong competition at par ; and shabby, coarse grades barely obtain last sale's rates.' Cape descriptions still, move nervously, and. shew the full ' decline, ,- greasy marking 5-percent, to at times 7£ per, cent, fall, according to growth and- condition*; .but sooureds, especially the medium .olafses, exhibit! littleif, any change' on> previous quotation!. , At these slight ; deviations the sales continue to . , make progress satisfactorily. . '-■..,■, : . Sold by Messrs Ey. P. Hughegjand' Sons, May li— Upton over *Awatere.:' Qreasyr-37. bales first; combing withdrawn; 24 second dp withdrawn, 15 combing.. 7}d, 16 pieces, withdrawn,- 1 p/bellies 6JJ. Limits here were too high. Still a good clip. Welds Hill over Awatere: 38 first combing M, 32 second 'do Bd, 24 do . 7., 4 do rams Bd, 5 do 7d,-2do7Jd; 20 pieces Bd, 11 bellies Hid. Quality first class, and well grown. BUirich, Awatere : Scoured— B pieces 14d, sdo stained lid, 5 lochs Jljd. . Very well scoured, and sold readily. -, . . < ' Sold by Messrs Ohasi Balme and Co., May 2:— .CFM.in box: ( SHpe— 2l bales half bred, combing lid, 26 do 10id! -28 do lOd, 27 do 9id, 34 do 9J, 17 crossbred combing lOJd", 15 first do clothing 9}, 39 do 9d, 19' do Bid. 4 second do 9id, 10 Lester combing lid, 64 halfbred and arostbred lambs withdrawD, 29 super crossbred lambs 10£ d ; washed— • II second crossbred clothing Bd, 5 do 7id, 13 third do l_mbs 7sd, 14 crossbred do pieces Bid, 14 crossbred do 7Jd. This was an extra good lot of slipop, and well got up. HO : Gwasy— l4 crossbred combing 9Jd, 7 do 9d, 3 do' lambs 9d. ' Uawai 15 crossbred combing 9d, 13 do BJd, 7do H 7J3, 4 do bellies GJd, 1 pieces 4Jd. JBW : 8 halfbred comb* iug 9Jd, 208 first crossbred do f)}<3, 47 sccnnd.do 9d, 66 crossbred do BJd, 11 do Bd, 5 do It B*d, 10 do lambs 91d,J9 do yd, sdo piecoi Bid, 22 do bellies 7d, 9do locks 6Jd. This was indeed a large flock, and very uniform throughout, the clip being very ' good, suiting Yorkshire to a T. Sold by Messrs Buxton, Ronald, and Co., May 4 :— Titi : Greasy— 3l' bales A crossbred 9_d, 104 B . do 9_d, 93 do 9d. 23 Odo 9d, ?5 1) do «Jdi 11 Kdo • 9d, 18 first do pieces 7Jd, 24 Bdo 6Jd, 12 second do ' Cd, 6 do lambs Bd, 5 slips Lincoln ekins Bd., MMM ■ over" Lagmore : 39 tint halfbred combing' Bd, 69 do crossbred do ,BJd, 80, .do Lincoln ; do Bd, 12 do 8Jd,25 fecorid do BJd, 8 Lincoln Bd, 5 do 7Jd, 7 'do pieces BJd. A good clip, but the half br^di were a little heavy ia condition.- Otalpin over Wood--' lands : 103 cro.Bbfed ' BJd. 30 do 73d, I9do lambs • ~ 9d. QMG : 22 crossbred 7H.2 lambs Bd. lUKOj '41 crossbred A Bjjd, 58 do BJd ( H do 8d; 4 pieces 6Jd,i 'do6Jd, 61ofks 4id; r ß crdisbredkmbs 9d; 3 d0.,71d. ' .ESOi 13 A supec ero.sbredJ£braMig 9*^49 B dff '9Jd. 56 O'do^£'29 D crossbred 9_d/50 I?-do8Jd; 8 crossbred BJd, 12 do pieces ?id, 12 do bellies 6_di 20 do lambs' A 9_d. 17 do- B BJd. 10 do' O 7id. This was a large, uniform clip, well got up, possessing good style and .condition. ■ \ - Sold by Messrs' Jacomb, Son, and Co., May s:—.5 :— . Brancepth over Prince of Wales's feathers: Greasy -4 bales first combing crossbred E 9d, 11 second do 9d, 36 third do 9d, 12 do J»_d,44 crossbred E 9d, 40 do BJd, 10 do 9d, 14 Lincoln .TV lOd, 129 do 9id, 12 first pieces crossbred 73d, 19 second da 73d ;21 first lambi do SJ-d. JO : 56 crossbred 9|d, 111 do 9d, 48 do SJd, 16 do p'eces 7d, 29 do lambs BJd, 6"do pieces 6d. Tw.o good useful clips. With characteristic slowness and a pronounced absence of real- life does the woo} tr*de of Bradford continue to exiat. It is' indeed surprising at the present position of. affairs. Stocks are very light .of everything in both wool and textiles, and~yeb> with even, a respectable consumption going on,, it is indeed questionable if matters are nob the turn worse since last week The fact of con* ' sumei'fl knowing full well that they can easily afford to cease operations for a while places them in an independent position, and' holders wanting to sell gives to tho spinner & flue chance of buying low. There can^be no doubt that what transactions are passing are being made without a profit, and it is certain that values to-day are much below London's parity. Throughout the whole market there seems an air of indifference pervading it, -and men cannot be nerved' into real decisive action. Perhaps there is rather more inquiry, more looking round, more interrogating of thedealer, more trying conclusions vr'ith him,"., but really little ; difference in the volume of trade. Merinos seem : at present, on this market atleait, to be playing the cards'poorly. There is no doubt that tha pronounced absence' of any American demand! - for worsted coatings is greatly /acaountr able for the weakness of' 60's topi, and! manufacturers appear to be doing quite tha - rational thing in their efforts at curtailing .pro 4 duction. There appears to be the most call foil material suitable for rough, coarse dewription_k£ of wool-made textiles, and' the' position^j^B Cheviots andorosflbiedfjOonsiileiibgtheitiftJ^H

the geuci-il Bradford trade, is by far the rncsb . favQVU-Able, this clasi of fabrics finding its . gre'atesb support from the home market, where ' trade is generally g jds. , As'a'uowipgjtae woik^ -- ■ neBS of our Anglp-Anjerjcau "trade/it.i s worthy^ of notice that laft, month's fbipments" from .the' ; Bradford Consulate district were alorg way ,th 9. smallest recorded since the operatio'u of the v mpre s favourable tariff Those heavy wool-con- ,. ..Burning' textiles— viz., stuff goods and worsted . ,j coatings, show in the returns to be less than.ftalf -what they' were in, April of 1895; and when thereis anet deorease s .pf no, less a gigantic sum than * ■£'196;392, there is' 1 no wonder of the Bradford ' .trade being iodsff«ent. In English deso«ipiions ,' . uo'hin'g better can Mi recorded. ■- Bright wools, • "are to-day 4d per Ib cheaper than last September, snd still cot firm. The coming new clip, seems to bo a weighty matter, bub holders in the . oountry will do wejl nob to forco their clips on ,- the-market, as prices before long will rebound . with the ordering for lasbra goods for nexb ■ 'season.