LONDON WOOL SALES.

Otago Witness, Issue 2360, 18 May 1899, Page 5

LONDON WOOL SALES.

1 "y LONDON, March 17. i (Fhoji Our Own Correspondsxt.) j MERINOS AGAIN RISE. \ BETTER DEMAND FOR CROSSBREDS. { The sales this week have made sound and steady progress. In fact, many buyers have expressed tho opinion that they could not have believed wool would have sold with that zest wliich has been apparent at every day's .sitting, and all alike affirm that wool is dearer, or at least such growths an possess real sterling characteristics. Thie is a time when wool with any quality and breed about it is selling better than at any time during the past half-dozen years a' the least. During the past week merinos have gradually hardened, until to-day an advance on opening rates of 5 to 7£ per cent, can be reported, whilst cro3sbreds sell more regularly than at the outset. Almost every day some very decent catalogues have been submitted which have led to great animation, clearly an evidence that men want wool. With regard to' the variour classes of Australian merino woole Victorian | grease at J.ld to 12£ dis now id dearer. In other descriptions of a less pronounced excellence, the genera) run of wools ■ worth in January 9d to lOd are also £d dearer, whilst on the lower range of from 7d to 7fd last time the advance is more generally 3d per lb. All Riverina clips are a full id higher. Well conditioned pieces and free locks continue to be eagerly sought after. There is also an excellent demand for noithern New South Wales growths, which show a it] rise. Scoured wools, especially Queenslands of good bulky character, are in good request at id to Id rise, and anything of merit is eagerly competed for by both home and Continental buyers. Crossbred wools of fine quality maintain the full level of January quotations. New Zealands of medium to coarse, bright types are generally id cheaper, whilst owing to a total absence, of American demand — so conspicuous for these wools last series, coarse, dingy parcels are §d below the best point of January. Seoureds seem to r-ell relatively better than grease. South African wool of which the supply has been yery limited has maintained a firm front, prices for nearly all descriptions of greaso having caught 'on and are fully up to last series. Seoureds are now and again J^cl dearer. An excellent tone pievails, and both the home trade and Germany arc taking the largest weight of wool. Franc* is a good third. Sold by Messrs Buxton, Ronald, and Co., March 11.— JNW in diamond : Greasy— l 6 bales B halfbred Leicester Lincoln 7Jd, 38 do GJcl, 68 C do 64d, , 68 do 6Jd, 3 do 6d, 10 do SScl, 13 first do pieces sd, 14 do 4Jd, 7 second do sd, 2 do locks 3Jd, 34 first do lambs 7id, 3 do Lincoln do 6d, 9 second halfbred Leicester Lincoln lambs 6Jd. This was a big < 'ip, but rather coarse and wasty. Improve quality and condition as much as possible. Kiwi: Greasy —15 A crossbred 7d, 4 B do hoggets 6d, 6 do 6d, 9 C do 6d, 35 A three-guarterbred hoggets 6d, 22 do s|d, 28 B do hoggets 6|d, 13 no si<3, 13 A crossbred pieces 4id. Tokomaru.i

Greasy— ll first crossbred 7d, 50 do L 6d, 13 do 5Jd, 17 first Lincoln s|d, 25 do Sid, 9 crossbred sd, 2 first .crossbred pieces 4Jd, 5 second do 4£d, 8 do bellies 4sd, 21 first do lambs 6Jd, 4 second do ss. Hiku: Greasy — 9 B crossbred 7Jd, 50 C do 6Jd, 9 E do Gd, 13 F do 6d, 6 first do pieces and necks 6d, 8 do B pieces 4Jd, 2 second 'do 4d. All these clips made full market rates, but such wool as this is very much ar a discount. •

Sold by Messrs Dv Croz, Doxat, and Co., March 13.— Morven Hills: Grease— 9 bales first

combing H Bd, 21 do Bid, 17 second do 7d, 16 first clothing H 7Jd. 29 do 7Jd, 24 broken Bd, 15 halfbred first combing H Bid, 19 do second do SJd, 9 halfbred broken Sd, 5 scoured first combing H 17Hd, 11 do halfbred first pieces 13£ d. A good average clip. The worst feature •was condition, the wool being rather wasty. The quality was good, but no doubt the wool •will bring a good return. Highfield: 30 giease halfbred AA 3id, 77 do A 9id, 38 do B Dd, 47 do E Bid, 7 do~D Bd,-23 do S Sd, 3 do crossbred A 6id, 5 do Shiopshiie lid, S do three-quarter-

bred BB GJd, 7 do Lincoln sid, 27 do halfbred

pieces Bid, 17 do B 7{d. This was a first-class clip, being of good superior quality, shafty, clean, and light. F in box: 49 grease halfbred first H 9d, 54 do 9id, 109 do withdrawn, 74 do pieces 7d, 16 do locks 4Jd. A similar wool to

the preceding clip

Sold by Messrs H. Schwartze and Co., March 15.— GTS : Greasy— 9 bales H 9d, 48 A Bd, 37 B

Bd, 9 halfbred A and B 7Jd, 3 pieces G^d ; scoured — i C 'fleece lGd, 3 D 15Ad, 4 first pieces

15£ d, 4 do 14Jd, 9 bellies 15Jd, 2 locks 13d. Puketoi: Greasy— Bl first combing 9Jd, 7 second do 9d, 20 do 9d, 6" first combing withdrawn, 4 dc S^d, 20 first pieces BJd, 29 piece.' BJd, 18 halfbred first combdug 10d, 5 do 9id, 6 do second dc 9id, 9 do 9|d, 4 do 9d, 7 three-quarterbred first combing 9d, 4 do second do SJd, 7 halfbred first pieces Bsd, 14 do 8d ; scoured — 6 first combing ISA, 4 pieces 17Jd, 5 do 17d, 5 do 17d, 5 do IGJd, 4 do 16} d, 5 stained do 13 x ,d, 4 locks 14id, 5 do 14d, 5 halfbred pieces 13Jd. This was a good big clip, and sold very well indeed. The quality was very good, and v strong feature in the clip, and condition helped also. Conical Hills : Greasy — 3 super withdrawn, 9 halfbred first combing 10£ d, 33 crossbred do 9d, 17 do BJd, 4 do BJ<l, 14 throe-quarlerbred do Bd, 4 R Bd, 7 Leicester 7Jd, t H and Leicestei 7id, 2 Leicester first pieces Cd. These made yood prices, but the wool wus worthy of them. GS over Bar: Greasy— l crossbred 7d, 15 do 6id. 27

tlo 6Jd, 40 do 6d, 21 do 6d, \ do 5Jd, 2 Lincoln sd, 13 crossbred first pieces s}d, 9 do belly do 42<3, 4 do second do 4d, 5 do breech '4*3, 2 do locks 3id, 6 do first lambs 7id, 2 do lamb pieces sd. Mangawhnre: Scoured — 6 halfbred lOJd, 12 three-quarterbrod lOd, 17 crossbred 9d, 26 do BJd, 3 L Bd, 2 crossbred damaged 7Jd, 7 do first pieces Bd, 3 do bellies

7Ji The homo wool market continues to wear rather a sombre face, and business cannot be described as active. This does not mean that thing* are unduly depressed, foi that "is not the case ; but there ia not doing that AUantity of business that men either deaire

or look for, and there are few indeed whose expectations are.. realised. The fact is, Bradford is almost staggered at the way fine wool is selling in London, and sees no reason to justify any further advance taking place in merinos. But in making that statement it must be said that Bradford wcolmen measure outside markets by the same cramped, diminished latitude which obtains in this centre; and Bradford's values for the combed article are not in harmony with the cost of the raw wool in London. This makes it imperative that a lcvelling-up process should be inaugurated, and signs arc not wanting that prices will 'be higher for merinos in the course of a few dayf. This week on 'Change holders have moro than ever seen through the foolishness of either contracting forward or selling out of stock at less than what the &aine cm bo roplacpcl for, and all sales made show here and there a fractional ri&e over the rates current two weeks ago There is no doubt thit (hi sliffno^ of holders of fine stock prevents business being -done, but Fooner or later spinners) will be forced to come into the miuket tc buy, and Urn topmakers know. There in now a very encouraging inquiry, with an entire absence of speculation, but this inquiry seems more foi the purpose of keeping in touch with values than with a view to present actual butinesF. The movement of crossbreds is s-lill very small, and priceb if anything tend in buyers' favour. Carded 40's tops are being offered at 9£d, and there is then m great weight changing hand}. Mohai- keeps very quiet, but prices are maintain >d through outside influence. There is noihing of a more encouraging kind ■ to report of the export yarn trade, and new ' business if? exceedingly scarce. On old orders there is something doing. For the homo trade the comparative activity is maintained, but prices art not very remunerative, and spinners art hoping for better things. In pieces?, manufacturer)) are finding an improvement all round, and the American trade is better, especially in dress goods.