LONDON WOOL SALES.

Otago Witness, Issue 2325, 22 September 1898, Page 6

LONDON WOOL SALES.

(Fbosi Oub Special Cobbespondent.) BRADFORD, July 22. A SATISFACTORY FINISH. The sales have finished, and once again ■buyers have returned home. It has been a most happy time, and the results must be regarded by my colonial readers as^ eminently satisfactory. In bringing this series of letters "to a close, I will quote from the authoratative pen of Messrs Charles Balme and Co. They say : — "During the interval which preceded the 'series, the uneasiness caused by the outbreak of war gradually subsided, with the result that the effects of the scarcity of merino produce, which had been somewhat lost sight of in May, again came prominently to the front. So far as coarse wools were concerned, however, increased supplies from the colonies, coupled with the marketing of the English clip, tended to hinder any rally in demand. Competition from European consumers has been both free and general throughout, and towards the close of the auctions buying on 'American account was occasionally noticeable. "The market for merino staple opened with ,an average improvement of 5 per cent., which '■was fully maintained to the close of the series. 'Medium and inferior grades, with the exception of droughty Queenslands and heavilyconditioned New Zealand wools, attracted special attention, and with further accession of competition from continental buyers eventually marked a rise of 7£ per cent, on May jrates, which appreciation in the case of ecoureds frequently amounted to 10 per cent. Super Geelong greasy parcels, which have been scarce, and which have sometimes benefited by American support, have teen fairly satisfactory, but the best grades of New South Wales staple have done no more than hold their own. "A large proportion of the daily offerings has consisted of crossbred wool. Although no lack of spirit was noticeable in competition, only the finest qualities have gained ground, rates for both coarse and medium grades weakening after the opening, until they stood fully 5 per cent, below last sales' parity. This basis of value provoked speculation, particularly for the lower qualities, which held prices pteady to the end of the auctions. "South African wools have only partially benefited by the present phase of demand. Wasting greasies and fleece-washed descriptions, which have been comparatively plentiful, have shown no quotable variation. Light-

jQß»«ariamjjmat u J«"J»-'- l -i^»'»gggßßgßgEiSSS«J^nii»«g'Jim'-i» mm ' conditioned grease and the scanty supply of ' both snow-whites and scoureds have readily commanded an advance of 5 per cent. • "The prospects for merinos appear to be amply secured by the circumstances both of supply and demand, while the revival of confidence which would be engendered by an early termination of the war between Spain and America should noi only sharply stimulate inquiry for fine wools, but would also probably afford some relief to coarse-haired produce. As compared with the closing prices of the previous series, we quote : — Australasian : Merino in grease, superior, id to Id per lb dearer ; do super, pay tjo : do average, id do ; do inferior, id ro •-i cto ; merino scoured, super, id do ; do -medium, -lid do ; do inferior, Id do ; merino lambswool, p.ir ; crossbred grease, par to id do ; do medium, id cheaper; do coarse, id do; do washed and scoured, fine, par to £d dearer ; do coarse, par to cheaper : do sliped, par. I .'South African : Snow-white super, par to dearer ; do medium, £d to Id do ; fleece washed, par ; grease, light-conditioned, id to ;do wasting, par to id do. ' The fifth series is fixed to commence on September 20, the list of quantities available being closed at 4 p.m. on the 12th of that month. The sixth series has been arranged to open on November 29, and the first series of the new year on January 17, 1899, the list of arrivals in each case bsjng closed eight days before the date of the commencement of the auctions." Sold by Messrs Willans and Overbury, July 15: — IT.Z. and A. Land Co. over Edendale: Greasy — 8 bales combing quarterbred lOd, 17 do halfbred 93id, 11 do BJd, 30 do crossbred Bid, 14 do Bd, 15 do 7d, 7 do 6»d, 3 do crossbred pieces 7£d, 9 do Leicester 7Jd. This, was a very good clip, better grown and smarter than many crossbred clips. The quality, too, was better. N.Z. and A. Land Co. over Clydevale: Greasy — 40 bales combing crossbred BJd, 7 do 7Jd, 11 do 7Sd, 20 do 7d, 3 do 7d. These were heavier than the previous clip, and coarser in quality. Kemedy this. The " Acton was also sold over these initials, but only the scoureds sold, all the greasies being withdrawn. Halfmoon over diamond: Greasy — 8 bales B crossbred \V 7|d, 32 do E 7id, 41 do C crossbred E 7id, 42 do 7d, 19 do D crossbred 6^d, 15 do E 6^d, 21 do crossbred pieces 6d, 10 do bellies s£d, 29 do lambs 6Jd. These were only shabby. Improve quality, style, and condition. Halfmoon over SM: Scoured — 16 bales first combing 16Jd, 5 do 16d, 21 do second combing 16d, 11 do clothing 16d, 48 do 15id, 7 do double 15id, 35 do pieces 16d, 12 do 15\d, 16 do bellies 14Jd, 13 do locks 12id, 4 do halfbred 12Jd, 6 do crossbred 12d, 41 do lljd, 29 do pieces 12d, 4do lOd, 7do bellies 9£d, sdo locks 9Jd. These were splendidly done, clean, a good colour, and sound. B in heart over Elmo : Scoured — 1 bales combing 18d, 4 do 15Jd, 4 do sliped 16Ad, 4 do 15£ d, 4 do pieces 15d, 5 do 14£ d, 12 do locks 13d, 9 do halfbred 14Jd, 10 do 12kl, 4 do pieces 12d, 8 do 13d, & do locks lljd. Greasy — 19 bales combing 9Jd, 47 do od, 39 dq clothing QJd, § do pieces Sd, 8

do 7d. These merinos were Al. The scoureds, too, were up to the mark. Sold by Messrs Henry P. Hughes and Sons, July 16: — Howard: 11 bales combing H Bd, 11 do W Bd, 12 do H 7|d, 15 do W 7Jd, 3 do pieces 7d,- 5 do halfbred Bd, 20 do combing 7|d, 68 do 7id 35 do 7d, 17 do 6id, 7 do halfbred clothing 7id, 23 do three-quarterbred 7Jd, 6 do 7£d, 29 do &1&, 21 do 6kl, 20 do C|d, 4 do Eornney C£d, 9 do Leicester 7d, and several small sorts. All these qualities were only average. They lacked most condition, and wanted a better style. Awarua, over JGW: 84 bales three-quarterbred lambs first skin 9Jd, 15 do crossbred 9d, 42 do Bid, 11 do Lincoln 81 d, 25 do crossbred second skin 7d, and five small lots. Just average. Sold by Messrs Willans and Overbixry, July IS: — MI over Bamboa: Greasy — 35 bales crossbred Bd, 9 do 7d, 21 do 6VI, 7 do Lincolns BJd. Scoured — 5 bales crossbred pieces lid, 4 do lOd, 6do lambs 9£d. Ohurukura : Greasy — 11 bales comeback 7Sd, 40 do halfbred 7Jd, 21 do Gd, 30 do s\d, 11 do crossbred Gd, 22 do 5Jd, 10 do three-quarterbred 6d, 31 do halfbred pieces Gd, 12 do 4Jd, S do crossbred pieces sid, 11 do 4gd, 7 do lambs 51d, 7 do 41d. This was a very poor, heavy, wasty clip. WS over Sawdon: G-reasy — 71 bales first combing H 7£d, 13 do 7d, 22 do &ld, 17 do second &1&, 22 do broken 7\d, 9 do hrfitbred combing H Bd, 10 do E 7|d, 9 do 7d, 6 do halfbred broken Bd. Scoured: 10 bales first combing 18d, 3 do second combing 16d, 9 do nieces 17d, 4 do 16d, 6 do bellies 15id, 7 do "locks 13d. These scoureds were splendidly done. The grease was very fatty and wasty. However much certain critics want to belittle and cry down the real actual state of wool and tops in the premier home consuming market, there is no denying the fact that during "the past, 10 days there has been a general livening-up process going on in all fine-grade departments. In coai'3O wools the situation is indeed a dull one, no signs whatever of much being done, but in anything above 50's quality there is unmistakable evidence ol some decent weights being turned over. Users have been again, interviewing freely lopmakers, and though the returns are not perhaps so satisfactory as they would like, yet better business is being done than for some months past. There is no question but that a full id more can be- made of 60's tops than what could bo had two weeks' ago, and in some cases on good .super warp 60's and 64-'s to 70's a rise of Jcl has been made. Those holding fine wool or tops feel that the future is theirs. Present available stocks, eveix with the diminished trade doing, is only sufficient to supply present existing demands, and some here are not without the belief that merino growths will be dearer still before next September. The present rate of consumption is fully maintained, and, while it is capable of much development, there are some good weights being dealt with. In crossbreds the situation shows no improvement whatever. Here the plethora of wool helps to augment matters in the wrong direction. The old stand-by, heavy-made coarse sergef, not being so popular as the finer-made vicuna, style of goods, greatly tends to prevent absorption of the crossbred wools, the hosiery trade being now the principal outlet for this class of wool. Tops can therefore be bought as low as ever. English sorts are practically lifeless, with the exception of lustre ports. 11l mohair the situation is a- quiet one, but the late lower prices are very firm, with Cape firsts standing at 17d to 17-id. Yarnspinners are in about the same condition, everything being of a hand-to-mouth character, with new business bad to get. Manufacturers report a good business still doing in fancy-figured effects, but the worsted coating branch is very quiet and profitless.