LONDON WOOL SALES.

Otago Witness, Issue 2369, 27 July 1899, Page 6

LONDON WOOL SALES.

A MAGNIFICENT FINISH. (From Our Special Corbespondex;-.) BRADFORD, May 26. For the past three weeks I have so clearly «et. forth the various movements at the sales lhat I think I oannqt do better than give in my closing letter" a few remarks made by a ■well-known firm of selling brokers. Messrs Charles Balme and Co., in their closing circular state that the immediate. cause of the very sharp rise in values which marked the aeries of .sales just closed was the notable advance in quotations for merino " tops," jWhich began direccly after the Easter holidays. The " terme " markets of Antwerp and Roubaix led the way, and Leipsic and Bradford followed suit. In spite of the known shortage of .fine wools, manufacturers had for some time past been deterred from holding any but the slightest stocks by the slug"gish state of the woollen textile trade and the repeated political disturbances of the last two or three years. They were not slow to realise that, with a clearer political horizon and more promising" trade prospect?, they , might be caught understocked, and so the movement grew surprisingly in strength until at the opening of. tho auctions prices for tops stood at a higher point than has been reached tince 1890. With a crowded sale room, values for merino?, whether" greasy or scoured, ruled from ,:he outset 15 to 20 per cent, above Marcli parity. French buyers topped the market to begin with, but with the advent of free German and English competition later on and the keenest general animation, from 20 to 25 per cent, in excess of the final figures of the second series was frequently paid. Towards the end of the sales a rather more sober spirit pervaded the room owing to easier quotations for tops on th_e Continent, and the concluding prices of the auctions show practically no variation from opening rates. As wa« only to be expected, fine crossbreds have benefited very largely by the sharp demand for merinos. They shared the opening improvement to the extent of from 10 to 15 per cent., md gradually gained ground throughout, until at the close they are nearly 20 per cent, dearer than in March. Tho comparative clearness of merinos and fine crossbreds ha 3 caused a larger amount of attention to be devoted to the coarser grades, which )ias relieved them from the neglect they have liov: wiffered for some time sast, and has

brought about an appreciation of from 7£ per cent, at the beginning to ,<bout 12^ per cent, at the close. South African greasy produce has moved with kindred descriptions, and shortly after the opening marked an advance of 15 to 20 per cent., which remained good to the close, with the exception of some irregularity in the prices bid for wasting parcels. Fleece washed wool, which was in small supply, was 10 to 15 per cent, dearer, while scoureds, which were exceedingly scarce, enjoyed a full lo per cent, improvement. The few lots of super Western snow-whites offered realised fancy prices, as much as 2s lid per lb being paid. A striking feature of the series has been the exceedingly handsome profits on' re-sales in London of_ colonial purchase', the margin between- buying and selling prices amounting to on average of close on 35 per cent, in the operators' favour. Although sierinos now stand at a high level of values compared with the average of the past ten years, there is no reason to suppose that their present position is unwarranted ; while as regards the future the outlook is favourable from the point of view of the growing influence of continued short supplies, of the prevalence of fashion for fine-wool goods, and of the likelihood of trade development uninterrupted by serious political complications. For the time being at any rate the prospects of fine crossbreds are more oi less identical with those of merinos. ' The outlook for tho coarser grades is more hopeful than for some time past, though at tlie same time the influence of large supplies both actual and .prospective must not be forgoten. J-v • _ The fourth series is fixed- to coinmeuoe on the 27th June, the list of quantities available being- closed at 4- p.m. on the day on which' 350,000 bales shall have arrived, or in any case not later than the 19th June. 'lne fifth and sixth series have been arranged to open on the 19th September and 28th November respectively, the list of arrivals in each case being closed eight days before the day of the commencement of the auctions. As compared with the closing prices of the previous series, we now .quote : — . • AUSI'RALISIAN. Merino grease, superior ... 2d per lb hi°her „ „ medium ... IJd to 24 „ „ „ inferior ..." ]|d , . „ scoured super ... 3d • ■ i, medium ... 2Jd ,', " •■ .■ infenor ... 2it " „ kmbswool. super lid „ " „>• , , i. nied. Id '' Crossbrnd e.reafe, fine ... IJdUSd „ „ •• i. nxdium Id „ _ ,' .. .. coarse... ""id to Jd '„ ii scoure<l, fine ... 2Jd „ , » „ coarse ... lid „ it 'liD'.-d, rino ... ljd „ ,' ii coarse... 3d „ „' South African. Snow-white, super ... 3d ii i, medium ... 'Ail to 3d ! " Fleece, washed, ltltolid ' " Grensf, combing Id to l*d „ ' „ clothiug Id Sold by Messrs Henry P. Hughes and Sons, May 17.— Mendip Hills: Greasy— 5 bales combing first 12d, 7 combing do ex super 12d, 4 do 32d, 12 do super hoggets 12id, 47 do lljd, 8 do second hoggets ll§d, 27 do wethers Hid 12 ao ewes HJd, 30 do thud lid, 11 clothing super lid, 10 pieces super hoggets lljd, 2<i do wethers lid, J3 do ewes lid, 4- locks Jwg&ots 7Jd, 18 do 7d, 4 do 6Jd. These merinos were ej-cellent, and about the best offered this series. Everybody wanted them. Brookdale : Greasy— 7 combing first super ewes HAd, 21 combing lid, 11 clothing 9Jd, 13 pieces lOd, 1 locks 6Jd, 2 do 6d, 7 halfbred lOd, 3 do pieces 9d. First-class quality, sound, and really good Leefield over triangle: Greasy— 4 combmg &upe»lid, 7 do lid, 21 do first hoggets lOAd, 10 do xld, 24 do lOJd, 20 combing first lid, 25 do lOJd, 18 do 10id, 22 do second 10* d, S do iOd 15 pieces first lOd, 22 do second Sid, 10 bellie'Bd, 18 locks 5Jd. Highly creditable and clean C m circle over Otekaike: Greasy— 7 combine first lOd, 18 do 9d, 8 do B£d, 7 dc hoggets Dd 13 do 9£d, 7 clothing first hoggets 9Jd, 18 do 9d, 9 do withdrawn, 2 first pieces Bd, 2 bellies 7id, 55 halfbred combing lOJd, 44 do first ewes 10a, 43 do lOd, 69 do hoggets 9Jd, 5 do 9d 20 do second 9d, 8 do 9d, 21 do clothing wethers lOJd, 38 do ewes lOd, 2 do 9Jd, 19 do hoggets lOd, 42 do 9d, 16 do hoggets BAd 7 do BSd, 7 crossbred and Leicester 63d. "lo halfbred pieces 9d, 21 do Bd, 19 do bellies 7d This was a first-class clip in all qualities. It sold well. Station Peak: Grease— 6 halfbred combing first 9id, 11 do BJd, 3 do second 73d 5 do clothing first 9d, 4 do Bd, 2 do bellies' This was a very good clip. WBR over HGrease— s halfhred first 9id, 21 do 9d, 6 do 9d, 4 do BJd, 13 'nalfbred second Bd, 5 do 7id 5 do 7£d, 17 do 7Jd, 15 three-quarterbred first 7d, 3 crossbred do 7d, 9 do 7d, 7 three quarterbred second 7d, 18 crossbred do 6Jd, 6 do 6>d 4 do 6Jd, 14 do 6id,^l7 do 6Jd, 13 three-quarter-bred third 6id, 5 do 6id, 25 do 6d, 4 do Gd 13 crossbred third 6d, 29 do sjd, 28. d0 sjjd, 28 do Gd, 23 do 5Jd, 2 do black mixed sd, 5 liaffbred pieces 6Jd, 4 three-quarterbred do sd, " crossbred do 4Jd, 11 do 5Jd, 8 halfbred bellies 5Jd, 19 crossbred do sd. This clip was a good average one, but hardly so clean as the previous ones. Howard: Greasy— 1 combing first lOd 8 do A hoggets lOJd, 11 do lOJd, 11 do B liocgets 9Jd, 21 do 9Jd, 2 do first rams 9Ad, °3 pieces do BJd, 17 halfbred A wethers lO'.d 13 do hoggets lOd, 37 do' B wethers lOd, 38 "dp hoggets 9Jd, 7 do C 9£d, 15 do wethers 9*d, 15 do hoggets 9d, 6 three-quarterbred A ewes 9*d 18 do hoggets 9d, 13 do B ewes 7], d, 21 dc hoggets Bd, 2 three-quarterbred C 73c1, 10 do ewes 7d, 5 do hoggets 7d, 4 crossbred GAd, 2 Ttomnev GJd, 4 Leicester combing first 6id, 5 do G'.d" 1O i 8 -" 4 P ieces 7id, 5 three-quarterbred "do 6d. This was a first-class character of wool Good quality, clean, bright, and sound. Sod well. Bluecliffs: Greasy— 3» bales first combmg 10id, 13 do 10d, 7 second do lOd, 5 do 91.d9 l .d 3 clothing 9Jd, 10 first pieces lOd, 25 halfbred first combing lOd, 18 do 9Jd, 8 do 9.d, 6 second do 9Jd, 5 do 9d, 5 do Sd, 26 three-quarterbred first combing withdrawn, 23 do ciossbrcd withdrawn, 7 do 52d, 9 second do s\d, 34 halfbred first pieces 9id, 5 three-quarterbred do 6Jd Hadlow: Grease— o halfbred super ll?,d, 25 three-quarte-ibred owes Bd, 22 do hoggets 7id, 2 do 6d, 5 three-quarterbred pieces and bellies Gd. Ihese two clips were very creditable The wool suited both Yorkshires and German buyers, and every lot sold most readily. Sold by Messrs Buxton, Ronald, and Co May 19:— 0 over Halford: Greasy— 22 crossbred hoggets 9d, 21 do 7id, sdo pieces 5Jd. H. Bros. : 39 first grease crossbred combine A 6Jd, 33 do B 6'd, 12 second do 6id, 7 do s=d 9do s»d, Cdo B pieces 4}d, 2 first do 4d. Both these clips want improving all .ound. Get a better quality and a cleaner stanle. Less muck and filth. RF over Bloomfield: Greasy— 2o' ciossbred 6d, 11 first Lincoln combing Gid, 29 second do 6d, 10 crossbred Gd, 16 first do pieces 5Jd, sdo B do sd, 4 first do lambs 7\A. llarae over Totara: Greasy-j-12 cro=<ibjod 7d, 1 do 6Jd, G do G^d, 19 do 6Ad. NW: Grease— 19 B Closured 6W, 10 C do Gd, 4 Lincoln Gd, 5 ciossbred lambs 7}d. AJ : 9 grease A crossbred 5Jd. \V & GS : 3 grease crossbred 5Jd. JM over PN: 5 grease crossbred lambs 5Jd. W in star: Scoured— l A crossbred 3d, 20 B do BJd, 12 do Bd, 4 do B pieces Bd, 4 do 7id, 3 do 6£d, 2 do locks 6i<3. Carr: 56 bales greasy crossbred 7d. Marainanga : 16 bales greasy first halfbred combing withdrawn, 21 second do withdrawn. HH over Kaiwarra: 31 bales sliDe crossbred 7£d. Amberley. over NC;

Greasy — 9 bales combing 9M, 13 A halfbred lOJd, 12 do lOJd, 7 do lOdf 19 fine crossbred 9d, 4 three-quarterbred 7id. .This was a very respectable clip, being well grown, clean, and nice halfbred quality. This greatly helped it to sell. Kowi: Greasy — 13 bales A crossbred hoggets Bd, 18 do BJd, 18 do 72d, 6 B do 62d, 13 do 6|d, 22 C do 6|d, 25 A three-quarterbred 7d, 33 do 62d, 36 do 62d, 12 B do hoggets 6|d, 39 do 6£d, 4 L 6d, 14 A crossbred pieces 5Jd, 3 scoured crossbred pieces 9d, 7 do R do BJd, 3 do B£d, 4 do locks BJd, 8 do B pieces BJd, 7 do 7Jd, 4 do locks Bd. This was a big clip, but the wool was only average. Get a better quality. The Home market continues to wear a steady and firm, but " quiet, face. Holidays this week have oropt in and greatly interfered with business, but for all that the period of rest has been welcome. Of late holders have been trying to adjust prices commensurate with those ruling in London, and it must be said that on the whole rates in Bradford are not more than on a par with the cost of the raw article. The range of operations continues to be confined to the supplying of actual needs, and spinners cannot be induced to buy over and 'bove their requirements. "Too dangerous" ib their verdict when dealing with merincs, and the next few weeks will be very oritical both in merinos and crossbreds. Even English wools are- no better as a result of the fillip given to merinos. The excessive quantity of colonial crossbreds and the Home new clip Just about lo_ be shorn greatly interfere with the possibility of any better prices yet awhile. The following table shows the full course of values during the pa.st month, and the figures given in the last columft represent the general asking" price of merchants to-day: —

Description of Staple. ad Lincoln lioggs Lincoln wethers D<*ep-grown hogßs v . De9|)-grown wethers White super hoggs White super wethers Iri»h hoggs Irish wethers ... " ... Pick Shropshire hoggs *.. Pick Shrop. wethers Ordinary half bred hoggs... Ordinary hnlf br e d wethers .. Wiltshire i'owii tegs Wiltshire Dowu ewes ... Ordinary (iO's, Buenos Aj res tops Ordinary UO's, colonial toys Super 60's, colonial tops ... OrciitKiry -lO'*, colonial tops Ordinary 3(j's, colonial tops Turk r-yavoi age mohfiir ... Utre firsts, mo)iair d. ?. 74' >d i a j & £ d. j d. 81! 83 S I 8 7*i 7} ! 7* 7J , 7*l 72 7J! 74 7Jf 75 ' 7* 74 S\\ Si S ! 8 7A 1 71 i ' 71, 74 1 10.}! 10J I 10 | rO * 1 i : d. I I 5I 5 7* n 73 74 72 7J 84 8 7! 1 d. ? 7J 74 7J 7* 7J 74 8i 8 73 104' 10, 7i 10J 104 74 11* 104 24 ! 25 27 104 9 17 16 24 ; 25 26 | 20 27 27 IOJ -01 » i »j 1!) 19 18 [ IS | 25 26 27 101 19 I 18 ! 25 2(> 27 K'i 94 1» IS