OUR LONDON WOOL LETTER.

Otago Witness, Issue 2274, 30 September 1897, Page 6

OUR LONDON WOOL LETTER.

(From Oub Special Cohbespondent. ) London, July 23. STRONG DEMAND AND FIRM PRICES.

Generally Bpeaking, the tbird week of the series is usually looked upon as a testieg time, for if buyers have filled up their order sheets and met their requirements, it is then that they settle down comfortably to tako what comes at their price or to leave it. But such was not the case this week by any means. Throughout every day's sitting there has been manifest a very keen inquiry ; bidding has been as ani-« mated as ever, with prices in, most instances ou a full level with those current last week.

On the resumption of the sales last Monday the attendance was a very full one, and competition very evenly distributed between tha home and the continental buyers. However, it wan clearly manifest that the American sec- ■ tion had "gone on sleep," grave news about

the taiiff and its almost certain passage before a, -week bence having bean cabled from their headquarters in the United States. This bad the effect of seeing them again resting on tlieir oars, to the annoyhiice of the men in the " box "—the Belling brokers. Bub 1 although the market has not had the benefit of the' American section, this has been more than made up by the increased activity 'shown' by the home sections and German and French consumers. The former have bought freely of medium and super gtc&ae, and were also busy in seoureds ; whilst the latter competed with them principally in all good greasy parcels. The French trades have been conflpifuous in their purchases of good fcurtds. Queensland*, whether scoured or greasy, have again been favourites; so also have New England wools. Crossbred wools have formed the greatest portion of the catalogues, and have attracted all, but particularly Bradford buyers. Sou'h African wools earlier in the week were in comparatively large supply, the best greasy portion being in good demand from all quarters. Prices may therefore be said to be equal to tho? c ruling during any pait of the series, bub show no further advance ; the exct-ption being in shorr, greasy, wasiy Capes and ecouredß, which here and there hnve shown a little irregularity.

Sold by Messrs Jacomb, Son, and Co., July lfi:— Pahi: Grease-3l bales first crossbred A Bd, 2(5 do B 7W, 9 do BB 7d, 28 second ores bred A 7Jd, 28 do 7"£d, 27 second cro-sbred B GJd, 24 Lincoln A 7J-.1, 10 do 7Jd, 5 do B 7d. Lacked most in condition. Skirt ruose and keep the clip clran ard smart. Ardmore over small heart : Groa«e— 41 first combing halfhred 10 •, (» secjnd combing 30d, 9 crosebreii combing 9sdi 39 do withdrawn, 33 first, pieces hallbred BJd, 17 second do 7d, 10 bellies halfbred 6jd ; and a few odd bales. This clip .was .specially good— well got up, notskhty; clean and smart, combined with good quulitt and lustre. AVaitotara over AA : Grease— 3 combing 62d, 49 halfbred Sil, 11 second do BJd, 71 snpsrfine ctos-lned Bsd, S5 super do B\, 81 first do Bd, 0 second do 7^d, 2 cios'bred pieces 7d, 8 do 6d, 4do 4Jd. A good average big clip. Sold readily owing to its vs 1 fulness.

Sold by Messrs Ily. P. Hughes and Sons, July 17:-rC: Re ured— 4l bales cimbing 14i<J, 50 do 14a/ 8 pieces 13R 15 do 12<1, 13 locks 1P«, 54 quarterbied 14d. 54 half bred 13J-d, 51 cro -shred A ]2id, 42 do B lljd, 19 do O lOd, 7 do D lOd, 46 hnltbred pieces 12d, 46 do Hid, 106 do lOJd, 48 three-quurterhrrd pieces lOid, 4S d<> 9&d, 10 crossbred pieces Bd, 6 do locks sJii, 33 halfbred leeks 7d. These were very niofly lione, and well got up; clean and Rinart. Iligh Peak: Greasy — 14 combing super fHd. 31 do fit at 9Jd, 11 do secoud 9d, 15 clothing fust Bd, 24 pieces 7Jd, 7 halfbred combing SJd, 2 do clothing 7Jd, 2 do pieics 6^. These merinos were exceptionally clean, good, and smart.

Sold r-y Messrs Charles Balme ond Co , July 19: — IS with stroke through: Grease — 19 h-les halfbvert combing B'l, 52 fine ciossbieV combing 7fd, >6 iU]K-r do 7Jd, 45 crossbred combing 7}d, 8 di 7Jd. AP over Mt Gowiie : Grease— l 9 first halfbred combiug 81,9 do cro-sbred combing 75«1, 11 <1o 7ic), 6 crossbred pieces 7i<l. G do sid, 3 do bellies si<l. 'these two clips were g<"Od useful wools, but tending to be a bit heivy and wavty. C in triangle over Miv Flvt : Oivupe— 4l A combing Sid, 54 B do B£d, 30 C do Si'), 2 clothing B<J, 3 damaged 7id, 12 secoud pieces. B£d, 41 do Bd, 9 B pieces 7|«l, 23 do6J(i. These were very tasty for merinos— bright and sruarf ; well got up as well. ABlovei Ualdon : Grease 17 fir~t combing H 7}<?, 30 second do 7d, 85 fir*t do 7d,-G9 do 6iJJ, s(i second combing (Hd, 15 do 61>1, 6 pieces 7d. Good qu.ility, but heavy and wasty. AB and Go : Greass — 5 fi«st halfbred combing SJil, 10 do ciossbretl combing Sid, 24 do Bd, 6 secoud cossbred combing BJd, 41 first three-quartertuvd combing 9d, 9 do H BhA, 7 crossbred pieces 7-J ', 7do 6J.1 Good average woolb, but keep up condition, style, and lustre.

The improvement previously noted respecting the general tone of the home wool markethns b<;en fully maintained during the week now under review, and in come directions the strergfhening influences of the past have developed to quite an extent beyond that already reported. As far as the actual transactions of business are cancortied, the past ten days have often characterised by a period of dulness as well as one of considerable activity. The fin-t-menliiued characteristic is doubtless due to various reasons, chief of which was the refu-al of home trade buyers to be rushed along at the speed of London and London's advance ; and, again, their determination to stand by until American wants were totally Btopped by the expected daily passage of the tariff bill. The second condition — namely, that of general activity — is owing to the fact thtt shipments from Bradford and district of both raw wool aud typs have been made once more on a very considerable scale to America, and every thing available have been readily taken by those who had contracts to fill. Any holder who was prepared to sell at current rates had nothing to do but to eeud the stuff along to any shipper and the transaction was complete. Everything has been done at high pressure, and some heavy weights put through in a very short time. With the further depletion of stocks topmakers arc now askiog a further -hH advauce, but this stop*? sales, though it is s»tit-factory to note that a trifle better price are now being paid. Some see fit to bold, fully expecting higher rates before the end of the year ; but generally there is a disposition te sell and buy ag»in. Many topmakers have contracts made and no raw stock, ■which fully accounts for the eagerness displayed in London to secure raw wool. Good nverage 60's are firmer, and in demand. In English sorts there is practically co change, but here and there lower offers are being made. Irish woo^ especially are firm, and stocks ara low. Mohair is resting, but the article is in a very sound positiou. Yarn spinners report little change, but here and there particulars come in more readily. The export demand is still weak, but not further depressed. In pieces there is no alteration, bub shipments to America

are only jusb being stopped. Market ikm all round and steady.