LONDON WOOL SALES.

Otago Witness, Issue 2355, 13 April 1899, Page 6

LONDON WOOL SALES.

(Fkok Our Own Correspondent.) BRADFORD, February 10, AN EXCELLENT FINISH

The past month's record has indeed been a marvellous one, and I think [ cpnnot do better in bringing tlm series of pales to a close than quote from tho authoritative pen of the well-known selling brokers Me.«crs liux ton, Ronald, and Co. In their circular they say competition betokened from the outset a recovery of confidence Tho Home trade led off with good spirit, and being quickly followed by both German and French buyers who operated freely from day to clay, the tone at one time frequently 'lordered on »x cilement American co-operaiion, although valuable for certain descriptions, was limited

Prices for merino descriptions uled from the beginning abou' 5 tc 7i per cent, above closing December currency The most acthe demand was for light, sound combing grea.°e, which •was scarce, and which, within a day or two of the opening, hold .s.t about 10 per cent advance on late /ates ; less des-irahie growth and condition were pcrutini&ed with the cine which the e.xpeiience of lust Bsr ; es' purchases had rendered i.erespary, and sold y'th some irregularity all tha way through. Bulky, middling: lots ap;>rt, scoureds showed •e'.ativel/ 'ess change than jrrecpe. Tho mar ko 1 ; ./as hardly so buoyant lo'vy.-ird-; .he cloi:fe ad i had been, but in respect of <tH fine, f ;iirly ttouisd r.e.-Jnos' the toi>e remained decidedly strong In establishing v tomij^.-iaon betweun Khe ftluz* obtained fui A*«£*wji/.

wools of the present and preceding clips, the generally lower merit of the former must be taken into consideration, and allowance made accordingly. . .

In regard to middling to good greasy Australians, prices were almost uniformly id to Id above "December quotations, growth and condition deciding whether the higher or the lower advance was touched; for, on this occasion, a good stapled wool even if very burry -was in bottei favour than a lean droughty article. Fine clothing elicited excellent competition at from Is Id to Is 4d per lb. New Zealands were scarce and made from 9id to lOd for good to superior body and condition.

Scoureds offered an attractive assortment, - and for the most part excited keen competition at id to Id advance on previous quotations. Special attention was bestowed on bright middling lots, quoted last time at Is 3d to Is sd, which generally rulod a penny dearer. Superfine quality was . keenly contested at from Is 8d to 2s Oid per lb. Bulky pieces and all locks continued to meet with very active bidding at a rise of id to Id per lb. Crossbred wool, of which about 45,600 bales wore catalogued, sold on a much stronger market than for somo time past. New South Wales parcels at 9d to lOd were quite id up, the coarser descriptions of both classes being covered by an impiovement of id. ' As regards iho New Zealand", it was necessary to distinguish between bright, good, and middling to coarse light wools, taken by Americans at Bid to lOd per lb, an advance on December quotations of lgd to 2d per lb, tho European demand for the same wools representing a rise of Ad to Id per lb ; coarse and heavier lots usually experienced a rise of about id. Toward- the c-lote the American inquiry moved on to a uither finer grade, and although this was in a measure compensated for by :i more active Yorkshire demand, prices for tho lower grades uere latterly not so regular. Scoureds as well as sliped middling to fine paicels sold ot id to Id advance, and coarse grade at about id above last time. South African wool shared to some extent in the upward movement, but hardly met so steady a market as Australians. Tho best prices weta-'Secured during the fii^st 10 days v Fail to good greasy Western combing at 7d to ' Bid as well ac Kaffrarians at similar figures, ruled at id to Id dearer, and soft fine blue ditto made also at first from 7£d to BW, but latterly the demand fell away Bomewhat leaving the advance quotable at about id. Natals did not exceed Bd, and showed less response than Capes. Good to superior Western scoureds at Is 6d to Is 6id were no dearer than, if indeed quite so dear as, last f-erie3. On the other hand, competition for dry Kaffrariaus at Is id to Is 5d was very keen at primarily Id and more recently id to Id rise; fatter lots at Is lid to Is 3d also sold well. Good Natals id to Id dearer. Taken for what they are the figures are as follows : —

• 1 * Lower. All circumstances considered the results of thes sales cannot fail to have been satisfactory to those who elected to ship for sale in London. The rise exceeded expectation, but bo did the shrinkage of values^ hero last autumn ; and so long as the market fa so freely exposed to what are mere speculative manoeuvres, such sharp upß and downs must be expected. On the general question of supply and demand, which after aU still plays an i important if a somewhat subordinate part, it is clear that buyers recognise the paucity of sound merino combing wool ; but trade in the loading industrial centres in Europe has so far benefited more by the strong manifestation of confidence in London than by any substantially improved returns for yarns and goods, 'it is hoped, however, that as the year advances additional support to a stronger trade movement will be developed, and it will then transpire what effect the large quantities of direct purchases from Australia will have when a fair profit offers itself for realisation. The next series opens on March 7.

Sold by Messrs Willans and Overbury, January 30.— 8 in heart — Greasy 23 bales combing halfbred hoggets 9id, 11 second do 9d, 4 third do 9d, 21 do crossbred do 9d, 21 second do BAd, 10 third do 7Jd, 2 pieces halfbred Gid, 3" do crossbred Bid, 2 B do 5Jd." This was sati&fp.ctory. Thero was a good quality, shafty staple, clean and well grown. WG in box — Greasy 5 Shropshire H and E Sid. 13 halfbred W Bd, 17 three-quarterbred H and W 7£d, 10 crossbred W withdrawn, 5 Leicester hoggets Gd, 6 do E withdrawn.. A good average lot. Clarence— Scoured : 6 A hoggets 16Jd, 63 do 15id, 9 B loid, 41 do ll.Jd, 19 C 15d. 7 double 15Jd, 16 pieces 15id. 10 bellies 15id, 7 locks 13id, 17 do 12$. This clip was scoured ir. a .first-class maniier. "Very nice quality, and altogether iv good wool. Glentui — Scoured- 9 combing 14id, '2 double 15id, 7 pieces 15d, 4 do 12d, 7 loftks 13d, 5 halfbrcd 12Jd, 2 do pieces 13d, ?. do lockn 7}d. Wai — Greasy • 6 B crossbred hoggets 7}d, 42 « do 6Jd, 26 do W 6Jd. Coarse in quality and very <vasty N.Z. and A. Land Co. over Clydevale — Greasy- 9 combing qußiterbredTOcfl 3 do halfbred 9d, 18 do crossbred 9d, ]0 d< 7Jd, 13 do withdrawn, 10 do Leicester 7Jd, 7 do 6Jd. The first three lots tvere /cry superior. Quality, style, and condition all one could desire. Sold readily as well.

Sold by Messrs Dv Croz, Doxat, and Co., January 31, — F in squaie — Grease 24 bales halfbrcd first lOd, 13 do second Od. C crosabrrd firat H- 7d, 3 do second do 7id, 8 three-quarter-bied first and second 6Jd, 9 halfbred pieces 7Jd, three crossbred do H 6^d, three ilo snd halfbred lock? 2Jd. This was a lirsl-cla.ia clip, especially the halfbrcd. Such wool is scarce, and //anted in preference to the thrce-qua.rter-bred nid crossbred. Tukurpngo ovei Window — Orcase crostbred second withdrawn, 22 do . hL«i wUa<L-tvn), 18 do withdrawn, 28 do Cid,

40 do 6Jd, 60 do Cid, 3 dc and Lincoln R 6d, 14 do necks 62d, 98 do skirts did, U do bellies 4Jd, 9do breech sd ; Bimuroa over "Window: 37 grease crossbred first combing 6Jd> 17 do second do 7d, 17 do 6Jd, 19 do Lincoln' 7d, 8 do first pieces sid, 8 do crossbred bellies 4Jd; scoured: 1 do pi«oes Bd, 3 do locks SJch These two clips wero "w^ll grown, but ,coars« and wasty. These were 'their worst features. BH joined — Grease: 66 crossbred long thircl combing 6!d, 56 do 6£d, 55 do 6Jd, 55 do 6J6V 110 do 6£d, 42 do 6d~ 7 do first pieces slipe 6d. See criticism to the preceding clip.

The Home wool market haa contained a mixture of feelings during the week, partly good and .partly weak, but fortunately tha former greatly predominates. Tho latter feling is mostly due to pessimistic arguments used by spinners who stata that things are worse. But such a statement is universally discredited, and moreover, it is plain to bs seen that not a few are attempting to "dodge" the market. It was expected that the very extensive biying of the past month could not continue forever and a, lull was inevitable, and the temporary slowing dowYi is now being construed into weakness and a cause for lower prices. Wo deny absolutely that there ia need for any * such process taking place, and where a farthing less is being taken for tops it is a question of the salesman wanting to meet a- prompt of one nature or another. The market on the whole continues to wear a very healthy tone, but at the same time the volume of business is not so great ns ib was, and there is certainly a less weigh* being turned over. This is caused by "spinners having bought to meet all their late contracts for yarns, and it only wants a fresh addicion of yarn orders to tee extensive buying agaiu in operation. The lone of the market is one of confidence and hopo for tho future. Consumption is corsidored to bo slowly but surely expanding aß_ ■more maclunery is being worked. There is, too, greater hope of crossbreds occupying a rooro prominent place in tho near future. Many manufacturers owing to the dearness of merino yarns are substituting for them crossbred yarns, and experiments are being made^ in the production of new clasge3 of goods. English feorts are very quiet. A steady business continue? to be done in mohair without, howe\cu\ any further advance in price. In tho yarn branch there is a trifle moro activity, but in face of the- firmness of spinners business is often difficult to negotiate. Orders from abroad continue rather (.mail, aud prices aro not such as to leavo imich in the shapa of pi out. In the Uome trade spinners ar« well employed jusl now, and there is every project of their being ablo to keep their machinery going for some lime to come, la pieces there is no alteration.

Description. 1899. J^nuaiy average per lb. U CO SsS Merino grease — Victorian : Good qua- . . litv »> d condition...! N S.*\V. : River-ins, fair staple i N' w ftnslitnri, fine bluish, fair cond. Queensland : Good staplo, ea t^y trp .. S Australian : Fair length and cond. ... N. Zea'ar.d :FahcUar-j acter I South Af r'can : ]'"air! staple, tkiity Scourer! — V ctorian : Ti\ur body and colour Is. SAY : fair pink, faity I N. Z-alaud : >\iirb«dyj anil col' ur Gape : KuiTrariau, .'hort, liglit Srossbri'd — N.Zealand: Half -rod, fuper, 50"&, 5(J"« ... Crossbred, fair, 4Vs, 4's ... . v D.tto, coarso, 35\| «'h li s. d. s. d P. c. p. c. I JO 11}— 1 0J 6-68 213 io io -o io j| 7 89 513 0 10 —0 ]0i 10-81 I 10-81 0 9 -0 10 5 40 5-40 'O 9 -0 9} ! i )2-12 i 12-12 JO BJ-0 9 GOG ! G-06 JO 7i-0 7i 11-32 3-50 I 71—1 8 1!)69 533 jl 4-1 4h' 22 6-i t 6-55 jl 6—l 6J •21-61 j 5 79 • 1 3i-l 4h 061 4-91 0 94—0 10* _ i 0 7-0 8 '21 -051320 10 fJ - 0 7j =B^l Slfi