LONDON WOOL SALES.

Otago Witness, Issue 2288, 6 January 1898, Page 6

LONDON WOOL SALES.

A FIRM FINISH.

(Fkom Oue Special Correspondent.) London, October 22,

In bringing this series of sales to a close I cannot do better than give colonial readers the grist of the situation here as set forth by the well-known brokers, Messrs BuxtoD, Ronald, and Co. They say: "Competition from the beginning denoted considerable wants, Yorkshire buyers taking a very decided lead. As the series progressed both Germans and French came more to the front, with occasional assistance from America. A strong tone ruled right up to the close for anything of good character. Prices for .merino wool opened at 5 to 7£ per cent. above closing July currency, but gathered additional strength during the next few days, and by the end of the first woek the improvement had increased to quite 10 per cent. From this basis there was practically no material deviation duting the remainder of Ihe series. The market was, however, sensitive to this extent — that whereas the comparatively few parcels of good New South Wales greasy combing merino were eagerly taken up at 10 to 15 per cent, advance, inferior-conditioned parcels failed latterly to realise quite the extreme rates of the first we*k. Apart from the contingent of Queensland new clip wool the assortment was, as is usual at this time of the year, more or le3B mixed, and contained little which bore direct comparison with July offerings. Hence tbe customary table is omitted, but in its place figures relating to the value of Queensland wools now and at the corresponding series 12 months ago furnish interesting evidence of the relative position of the article. Extreme variation must of course in part be ascribed to difference in condition.

" Greasy.— Occasional lots Ql foic Vicloiiau

sold at a full Id advance, and tbe same remr.rk applies wit.h even more force to finp, fairlygrown New England wooJ, wbich made from Id to I£t per Jb more money. Of new clip Queensland 25,600 bales were catalogued, sgaintt 27,400 bales at the corresponding series a year ago, and cointr>6nd< d close attention throughout At a whole the wool ia drier in yelk than the previous clip, »nd shows less 'discoloration, bub it is generally much ehu-ged with earth, and in point of growth is often lean and very irregular. New Zealand (merino) likewise improved by £d to f d per Ib on wools ranging lasS time at 7a to 3 1 per l'o.

" Scoureda formed an important contingent of the available supplies, and elicited throughout a strong borne dtm-uid afc an average advance of l^d oa all middling class wools which fold hsfc series at Is Id to Is 2-^d. pieces and locks were in very brisk demand at Id to l£d above late rates.

" Aa fou New Zealand crossbred wool, which provided the great bulk of the supplies, the belter classes at B^d to 9d in July now btousht ■£d more, whilst ou inferior mixed qualities the rite was geneially Jd per Ib. Scoureds of good quality si Id well at advance, but for medium and coarse grades tha demand was skek s.t rather under July rates. With regard to sliped wool, of which tbe larger propirliou of 16 300 bales was submitted to the hammer, prices this time, making allowances for the bttter developed^grorvth oE available supplies, as compared wifh what came up for sale in July, have shown but little deviation.

"South African wool» moved irregularly. Greas}', of fair body and good condition, at 7^d to Bd, was fully £d dearer, but in regard 1 o short and inferior heavy lots at 6d to 6£i the bidding was only moderate at a rise of about -4-d L'ghfc, short Kiffraiians, which fluctuated somewhat last series, now recovered favour at £d. Natal combing made up to 7fi, but, as a rule, most of the dingy, wasty parcels were covered by an improvement of -^d per Ib.

" Western scourtds of good body and condition, ranging up to Is SJ, were generally £1 dearer. Middling enow-whites, at Is to la Id, met with relatively lees favour, and sold throughout rather less irregularly ou about a parity with July rates, »pecky, burry lots tometimps failing to reach quite l&te prices. Natalg, at 114 d to 12^d, showed no quotable change.

" Fleece, of dwindling importance, consisted mainly of customary brands of Ktffrarians at 8.1 to B^.d for middling farmers', and 7£i to 7fd per Ib for native parcels.

" The anticipations of a firmer market entertained and expressed some titfle age received ample confirmation at these sales. Ifc is worthy of regretful notice, however, that u2 corresponding improvement has shown itself in tfie demand for manufactures, the weaver and spinner still both experiencing a restricted outlet for their product?. Tops on the other hand, m view of diminishing Btocks, have advanced 5 per- c;-nb., whilst wool, as has been *een, has moved up as much as 10 per cent. This is an anomalous state of the markets which may take some time to regulate. The very large quantity of colonial wool secured by Americans on European markets daring the early part of tbis year is, of course, the chitf cause of the depletion of stocks, which alone accounts for the material improvemant in values just scored. But none the less it is true that bo long as tbe system whereby an unwieldy portion of the clip is forced into buyers' hands within a space of some three months continues ro commend itself in responsible quarters in the colonies, deadlocks and violent reactions which have nothing to do with trade movements are sure to be more or less recurrent features. The next sericß begin on November 25, the fifjt series in 1898 on January 18, and the second series on March 15."

Sold by Messrs Chas. Balme and Co., October 11 :— Aroha over R: Giease— 23 bales super halfbred combing SJd, 4 second do BJd, 32 super crossbred conibiug 9d, 9 co Sid, 34 first ciossbi-cd cumbing 9d, i) damaged 7Jd, 26 first crossbred pieces 5Jd, 13 second do 4}d. This clip was very well got up The varied lots were good, sound, and very useful wools. N over Abbotsford : 8 first quarterbred combing 9d, 19 halfbred combing hoggets B£d, 39 A first three-quarterbsred combing withdrawn, 28 do BJd, 2 Romney Bi. These were nice wools too. Limits were too high for tlie withdrawn lot. Saynor : 37 quarterbred combing Bd, 53 super halfbre<lcombingßd, 13 tliree-quarter-bred combing 7Jd, 12 s-uper Lincoln Bid. Last lot the best, smartest, and cleanest. Sold by Messis Willaus and Overbury, October 12 : — Flag in hand : Greasy— s bales AA and AE crosbbved 7id, 4B crossb ed Bd, 39 BK crossbred 7Jd, 15 B and BK crossbred damaged 71^, 7 C rros3bred B}d, £8 CO ciossbred 7*d, 34 do damaged 7-Jd, 20 B crossbred 7d, 23 damaged 7d, and a few more fcrnall lots. These were fair quality wools, but lacked style and condition. Keep up lustre. WMECo. : Slipe— l9 first combing crossbred 10J, 25 do withdrawn, 59 do 9Jd, 41 do 9d, 153 do Sid, 8(i do 9d, 74 do Bd, 31 second combing crossbred Bd, 32 d0 7Jd ; scoured— l 9 combing crossbred BJd, 8 do 7id, £0 do 7-i, 27 p'eces ciossbred 6}d, 50 do 6(1. All these were very good "loti, especially slipe wools. Bradford bikers took the most, which sold readily.

Kol'l by Messrs Henry P. Huglic=f and Sons, October 12:— Two hearts: Greasy— 36 bales first combißg hoggets 7M 148d0W6].1, lido R6?d, 19 second combing (Hd, 56 do (i\d. 8 first clothing II 7d, 59 do ewes 6icf, 20 do W 6H 26 second clothing GJ, 16 bellies £}d. These were veiy nice quality meiino<i, but rather 100 heavy. JIIK over Invercargill : Siipe— 2 halfbred Jambs lfld, 18 crossbred lambs A 10(1, 18 do 9&d, 21 do B 9Jd. U do 9d. 2 Lincoln lambs 9d, i crossbied 9d. 21

scoured crossbred pieces Sd, 4 do Sid, 10 do 6Jd. These lambs were very good, clean stuff ; nice length, and fairly light. J? in diamond over Knkanui tiiver: Slipe — 36 crossbred 1-trnbs 9d, 31 do Sid, 20 do C Sd, 11 do 7£d, and a few washed bales. Ju^t ayer.ige both in quality, length, and general condition

Sold by Messrs Charles Balme and Co , October ' 14:— UIPW in box: Slipe 16 bale 3 halfbred lid, 't GS do 10W, 12 do 10J, 6 super crossbicd lO&d, SS do 1 10d, (5 do 9d, 12 second crossbred 7Jd, 8 do 6l<\. 27 .' Biiper halfbred lambs 11M, 27 docro-sbred do lOJd, , 11 do lOd, and a few small lots. These lambs ! were specially good, and the rest was full up, i being good all round. BB over anchor : G-iease— ! 26 fir.tt lialfbrtd combing hoggets t4rt, 16 second do 9d, 40 first tlitee quirterbred combing H 9Jd,. 31 do SI J. These lacked nothing, and were well classed on the station.

Holders of wool have experienced another wefk of disappointment, as they have foßs?^ business worse to do. Ifc must now be said that this centre has not in the least responded to the higher prices of London, and the fact that shabby wools eased eff a little towards the finuh is nude a plea for users refusing to give ful!-up values of a fortnight sgo. Ifc seems to many that for the time being Bradford his come to the parting of the ways. TLiere is a clean absence in the market of anything liko a, dispesition to buy freely — the barest possible quantities only being taken. These diminished daily transactions show nothiDg of importance beyond the fact that the op&rators are at present powerless to move the trade into action of a desirable kind, and their buying from day to dviy is a clear indication of their opinion of tbe policy which should be pursued by them. Good sbaf fey merinos continue to be very scarce, and here holders are unfl'neaing in their demands. Those who did not sell forward find themselves the best off, as a good many, having sold every pound of stock to the United States before the duties came into force, now find themselves unib'e to renew (o cover old contracts under enhanced rate?. Iho slackness of demand is somewhat favouring them, and they are hoping ere long to secure wool a little cheaper. So far, however, there is no quotable ftlfcerafcion in prices, bub a good d-eal of " haggling " is b^iug cone over mauy sales. Crcssbreds are somewhat s 1 acker, and 40's tops are obtainable at 12^'! and 32'b at Is. In English wools there is nothing but a deadness all round, and all qualities are alike. Mohair alone shows anj' life, and here things are enjoying quite a little boom. Holders will nob sell at las'i w eek's r&tes, and prospects are excellent for the nf-xb six monbhs There is no increase of activity in the yarn market, and little alteration in the. general | condition of things cw. be reported. There is nothing to encourage buyers, generally speaking, tj depart from their policy of supplying only actual requirements in jams, as they hud supplies quite large enough, and cloth-felling not an easy tapk at an> thing like xemuuerative rates. In puces spring order 3 are good for Bradford-made drees goods, but the worsled coating branch continues to show practically a blank. In other lines there is more doing for America.

Mark. 8 •a M IPS -5 s m M I d. d. GF over Peak Downs Leslie Maii uka Barcaldine ... iiesbania WA over Whyenbah BE and B over O Kilcuminin 414 1223 315 1074 263 911 7 35 -7 00 870 6 79 384 3<f> 483 1105 SOS 8 09 6 61 6 04 7-9S 6 29 12-60 11-20 15-00 9-t 0 7 90 234 j : 8-21 283 677 21 '30 371' ' 755 I I 8-62 I 8-61 514 403 7-67 6fiO 1240 SO -40