OUR LONDON WOOL LETTER.

Otago Witness, Issue 2210, 9 July 1896, Page 6

OUR LONDON WOOL LETTER.

(Faoit Our Special Correspondent.) Bradford, May 15. WEAK POINTS ENUMERATED.

Nojvery material change can be noted in the position of things on this market, but the course of events have now practically demon* skated how matters ttaml. Although this is the tbird week of the series buyers are in do sense winded, and wool sails readily. Bat while there is a good inquiry, values have not a] tared, and 10-day it is clearly to bo seen what are the weakest points on the market. Look* ing at New Sou*h Wales descriptions— lb.9 great proportion of fi;ie soft reddish or fairly-grown burry.as wtll as ili-s_irte3 parcels— all of which were ttrongly forced up in March, t_o relapse to-day is per lb. Queenslands of good character and of fair growth have held their own relatively well, whereas inferior parcel. thow a decline of quite £d also. Western Australians of fair condition end colour are £d, and wa»ty red lets irrfgular £d lower New Zealand merinos of fair to good growth, but in rather wasty condition, have lost ground by about £d per lb all round. Scoured wools of good character a_d condition are realising generally within £d of March prices, but middling faulty Quceailanrtg and faulty Sydneys are often Id and short locks Id to l£d lower. Lamb, in grea?e, of fair to good character, Are steady, whereas short parcels are about £d cheaper.

LookiDg ab crofsbred wool?, there ha> of late been seme recovery both in tone and price. .la regard to New Zealand well-conditioned* half, bred*, they are -£d down .till ; coarse croesbreds, when bright ami deep-grown, sell abouli up to March values, but short growths and All medium descriptions are fully £d lower. Scoureds are Belling at £d to jjd decline, eecord« ipg to grade and condition, Slipe parcels show no clnnge.

All along South African wools meet with an irregular market. Most of tho combiDg Capo grease offered has been of very inferior stamp, and must be quoted a good £d down. Natals in fair condition havo fared better at id decline, shj>rt inferior lots receding quite £d. Scoureds show no change from last series when in good condition, whereas fatty wool is £d lower. Fleeceß of native Kaffrarian assortment are per lb cheaper. Tho Continent still continues to operate freely, while Yorkshire patronises moat crossbred qualities. America is very quiefc. Closing letter next week.

Sold by .Messrs Willans and Overbury, May 7 :— Waihaorungi : Greasy— 2s bales A halfbred! E Bd, 8 do U 7id, 20 B do JU 7Jd, 7 do H 7*d, 60 A. thrcc-quartcrr.vcl E Bd, 42 do \V withdrawn, 31 B do E withdrawn, 48 B do Wand H 7d, 2lcrossbred E 7id, 42 do H and W withdrawn, 18 do E 8R 26 do H 73d. 3 do E Bd. 22 firat three-quarterbrecl pieces Bd, 10 do 7d, 19 bellies 6_d. Here was a fait; grown clip, but heavy and wasty. AG ovar w: Grease— ls crossbred E IOJd, 64 first do 10d, 11 crossbred 9d, 12 do lambs 9d, i scoured do skin Hid, 11 do pieces IOJd. 6 do bellies 104. The.se lots in the grease wore first-class. Sold by Mo3sra Dv Croz, Doxat, and Co., samo day :— Balmoral ; Greas«-45 bales super comb, ing lOd, 124 first combing 9_, 28 second do Bd, S firat clothing B.d. 42 first pieces B_d, 21 halfbred first combing H lOd, 28 do id, 279

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do second do BJd, 25 bolfbred first pieces B}d. This clip Jacked nothing; sold most readily. WOR: GreAse-17 first combing H9d, 33 do SJd, 8 second do Bd, 11 pieres H Bd, 23 do 7£l, S3 half bred combing 8d; -scouiefl— 2 4 first combing 16}J, 10 second do ISd, 6 first pieces 154^, ll.'Becond do 14Jd, 5 halfbred first combi gll J4d, 3do pieces IW. Sconteds were splendidly done. Sold by Me-srs Chas. Balnie and Co., May 8 :— Bell over Wantwood : Grease : -48 bales A half bred combing B}d, -25 Bdoßßl3A' do H 3d, 5C do Bd, 14 halfbred combing 7Jd, 45 A"crossbred do 9Jd, 17 « and 0 do BJd, 0 A Co il Bd, 9 do BJd. Quality .good &veraj;e,.but tended rather to be a bit heavy. Sold by Messrs Hy. P. Hugb.es and Sonp, M»y 9 :— C : Scoured— ls bales combing 14JJ, Bdo B 14d, 22 halfbred super 151. 3 fine quarterbred 14Jd, 81 crossbred A 14d, 36 do B 12*1, 17 do C ll*d, 31 half bred wi-ccs B i3J-1, 35 do D 12d, 19 do lOjd 14 do locks B]d, 21 thrue-quarterbrcd pieca B 11, 15 do 15^, 5 crossbred pieaes B lOJd, 2do locks 7£d. So A: Greasy— lß crosvbred A 8d,.17 do W B Sd. 52 do 7R 18 do II B 72 I, 75 do W C 7}d, 15 do H C 7§i, 12 do pieces 6i, 9 locks Jid, 5 skin 5Jd. Sold by Messrs Jacomb, Son, and Co., May 11 :— Bowlands : Grease— Bl bales crossbred A combing 9!d, 47 do B do 9}d, 12 do D Bid; 4 do A clothing Sid, 4 do B do 9Jd, 29 do 9d, 5 halfbred 9R 32 Lincoln 9d, 9 crossbred first pieces 7£d, 5 do second do 6d. 14 do bellies GJi. Sound and good throughout. ThreeLe^s:6rea'e-3 halfbred A A 9} d, 14 do A Sid, 55 do !)d, 11 do hogaete 9d, 74 do 9}d, 41 do HB Bd, 17 do BJd, 16 do B BJ, 8 do C BJd. 12 do, 73d, 17 threequarterbred A 9Jd, 14 do hosgetsS^d, 7doßßJd, 23 doHBd, 3 do'Bd, 8 do7id. 10 do first pieces Bd, 48 do 7-Jd, 10 do bellies H 6Jd, 13 do 6Jd. Highly creditable, and soldTeadily. HRR: Grease-9 tinb Lincoln H 10d, 78 do 9d, 6 do d -maged 8R 3 first crossbred fld, 15 do 8K 10 do Lincoln pieces 7ld, 9 do beTiej 7d. This was thoroughly good. Sold by Messrs Buxton, Ronald, and Co., May 32 :— WO : Greasy— ls bales super crossbred combing lOd, 62 first do lOJd, 51d0.10d. 49 second do lOd, 66 third dolOd, 72 Lincoln .9d, 48 crossbred ■ Pd, 10 do pieces 72-1, 11 do bellies 7d. 10 Lincoln pieces 7d,,9 do 6£d. 13 do bellies OR 12 fint crossbred lambs Ojd, 12 do 9d, 6 second do 9d. .Can only be dcs -ribed as highly creditable.

Taking soundings once again, we find that in commercial and industrial lines there is no radical improvement, and in home wool circles we can chronicle little, or no gain. There is hardly a feature of interest presented by the Bradford wool market. thi3 week, And all round there seem* to be a lack of sufficient doiug to give etrei gth and solidity to prices iv Worstedopolis. Bub while there is this universal quietness prevailing there seams to ma nothing peculiar in the present attitude of buyers. "While everyone greatly deplores this extreme slackness it must be remembered that Bradford is to-day practically between seasons, and the fact that the United States ha* overbought herself only helps to augment the present bald situation. All along Bradford has been expecting a supplementary demand for fall fabrics, and its total absence, coupled also with a very poor initial ordering for heavy-weight worsteds for next winter's wear, has brought this iudispensable part of our textile trade into a state of collapse. Then, again, it is yet too early for the iaanguratiou of the light-weight season, of next spring, and until that dawns we cannot expect to see a very material sdvauce in wool matters in Bradford. Operators knowing well the trne position of affairs are waiting patiently, and getting ready to take advantage of any propitious turn of the market. Many manufacturers in the meantime expect to be able to pick up bar giinp, and are keeping an open eye on large lots of speculative holdings to be shortly thrown on the market at low prices. They will undoubtedly bo disappointed in this, for ia case such holders are obliged to realise there is no prospect that they "will pvnh large parcels on to the market) or that others v.ill be soared into the same procedure," for only another, break in market prices could cause such acion, and at present there is not much chance of this. Colonial crogsbreds still rise Above merinos both in point of firmness and weight of turnovfr. Both in . South American and English wools there is little more -than a retail demand. , U3ers buy nothing beyond what is absolutely nee2S«ary ; and as the new clip approaches' the marked is •getting weaker and weaker. Iv mohair there is little or noihing doing, and prices are a shade lower. In the yarn trade there is complaint of a great absence of orders, but spinners are still working out' old contract?. .Manufacturers of piece goods on home account are fairly bu.y, •but others are very quiet.