LONDON WOOL SALES.

Otago Witness, Issue 2403, 22 March 1900, Page 6

LONDON WOOL SALES.

„ (FfiOll OUB SrKCIAL CORKESrONDEXT.) LONDON, January 19. A RATHER GINGERLY START.

It was with feelings of some uncertainty that a good number of Yorkshire woolmen left home for the first series of London sales, Bradford men especially feeling down in the dumps. Since the close ot the last series Worstedopolis has taken on a fit of doldrums, and although up o a fortnight ago another advance was freely talked of, yet, with the increasing anxiety over South Africa, markets have gradually sagged down until we have to record an easing off of 5 per cent, at the opening sales of the year. We firmly incline to think that this is only a temporary lull, and, with better news from the seat of JvARv w £ fehajl see late values fiilk. joaju-

tained, if not another possible advance in fine graded, before next July. Before a full house with all sections of the trade represented the opening sales of the year took place last Tuesday, with just a fail representative catalogue, wasty wools rather predominating. There was nothing unusual before the sale commenced, only a good deal of anxiety manifest, buyers hardly knowing what to do. However,, it was their policy to get wool as cheap as possible, and very soon it became apparent that merinos were* selling at a trifle less than last series. Bidding was rather irregular, especially for heavy-conditioned parcels, which had already been found to yield badly, but on the be.°t wools, where character and condition were manifest, values were on a par with last series. Medium and coarse crossbreds, owing to American competition, hold their own, Cape wools showed the greatest fall, with, a 72 per cent, decline. As compared with the values cuirent at the close of the December series, now show the following variations : —

Australian merino, par to 5 per cent, decline. Crossbred (fine), in buyer's favour. Crossbred (medium), in seller's favour. Crossbred (coarse), in seller's favour. Cape produce, all grades, 7i per cent, decline.

The Bradford wool market has once more come to the parting; of the ways, and whether it is to go astern or astern will depend to. a large extent on the results of the next few days. Ever since the year opened it must be said that this centre has not shown that life and buoyancy which were such a marked feature during the last six months of 1899, and spinners especially have been mo-it conservative and inactive. In a word, the market has been resting and waiting £ov developments.

Sold by Messrs Buxton, Ronald, and Co., January 16:— R and Co. over T: SHpc— 6 bales first halfbred combing 13d, 21 do crossbred 9d, 9 do threc-quarterbrecl 9cl, 4 do Leicester Ba, 13 second crossbred combing GJd, 2 washed ciossbied do sjd, 5 scoured halfbred and crossbred nieces fijcl, 1 f-,re.isy half bred D"'V iihd. DG- in rectangle— ■I greasy suyei combing merino lajd. Rectangle: Stipe — 1 suuer combing •M, ifSitl, 2 do 11 .d, G super halfbred do 16d, 4 first "do 15d, 3 second do Jld, 7do three-quarterbred combing 11 VI, 10 -irst crossbred do 9il, -1 second 00 withdraw.!, 2 washed crossbred Sd. BY : 5 slipe crossed combing Bid. CB : 4 slipe crossbred roj.i^mg 7d. Kakanui River over JM over W'J-JT : 2 scoured hftlibred r>ieee3 9Jd, .5 do crosbr-ii '"10 Sd, 4 do lambs pieces 7id. All these slipsd vools were only poorish stuff, excepting where over lid wad realised. All the merinos were specially good, particular mention being made of the rectangle or box mark. Pin cncle over Biooklnnds: Greasy— G crossbred lid, 27 firit do O^cl, 15 second do 'Jld, 15 do 9d, S do Bd, 2 do DVV" 7d, 9 do skirts GJd, G do belliss GJd, 2 do pieces □id, 2 c!o locks Hid. The fir.-t thice lots v/eie all right, the others rather warily. CCC: 46 giersy ciossbvcd 9.1, 9 do pieces 7d, 3 do ohd. S. Gates: 6 greasy crossbred lOd. Te Ore Ore over A: 11 greasy crossbred SJd. Triangle over CM Co. L: Slipe— l6 halfbred luid, 70 t.hrecquarterVed withdrawn, 305 super Leicester withrhv/wii. 42 do 9d, 42 do 'old, 11 Co H'.cl, 9 coaise 7d. 5 super 7,"ir-:s-r 'limbs lOd 4 do 9ld, 13 hulf-b'-ed seconds ll^d, 18 crossbred do Sid, 33 Leicester do ?&, 16 crossbred I'M S-}d, 39 wsfhed crossbred thirds 7Jd, 17 do Jambs 6d, 37 do first crossbred pieces H\d, 25 scoured first akin pieces lid, 13 do second do lljcl, 9 pieces 3;ld. All these were well prepared for market, but very various in character. They commanded a good r?etil of attention, and the prices made were equal to Mst series. Sold hv Mpsoi-s Jacomb, Son, and Co., same day —B in trimglc: Slrfe — 6 bales firs;; combin^ halibred A 3 Id, 2 do Hid, 5 do lid, 17 do crossbred A withdrnwn, 3 do S£d, 23 do threecmaiterhred A 9\cl, 9 do SUI, 16 do withdrawn, 38 do Leicester B Bd, IS do 7Jd, 26 do 62d, 1 do crossbred lambs lOXd, 3 do 9d, 15 do th-c?-tjinri pr'ni cd do 9UI, 9 washed second fiosabrpu A ''-id, 7 ;^o 9d, G clo Sd, 7 thim do A. B\d, 6 do 7;d, K> do G\&, 2 do 7-kl. Tnis clip shnwt.fl v v.vri"tv of qualities, and will want well classing before being ready for use. All the lots livido lull market rates. KB &A: Shoe— l combing first halfbred 13d, 15 conibin& first flue ciossbred 10?, d, 4 do lOd, G do 9icl, 4 do second do 7£d, 2 clothing first do 9'icl, 03 combing dc ihrcs-quartsibx-ed A super e5, 11 c!o Sid, 12 do 3id, 2 clothing first t'ruee-quaitcvhL-ed" Sd, 2 combing fust Leicester H sur°r 9d, 10 clo Bd, 14 washed combing second halibred Hid, 21 do crossbred Sid, 9 do third do 7d. Fairly good throughout. Since iho opening night the s=?'es have Jiiods no forward progress whatever. "Withdrawals bave been on a very large scale indeed, and prices if anything have only dce'-cned at the initial decline The situation is bung somewhat acutely felt by the whole trade. A full week's selling particulars next moil.

During: the past week in Bradfoid ml eyes have been turned towards London --alos, siv..t much speculation indiilged in as to how vt ol is likely to go. Had the sales opened two weeks ago. Bradford would have ie'.t in Utter heart and foim. and perliaps at no nhev centre has the political situation heeii so sevevelj felt as in this diolric'.. l''< »v scenr.s to have seized hold of far too many, especially \isars, and thej- are r.ol so of consumption keeping up as they were before Christmas. it is this fact that l>as genented a most anxious feeling for the future of wool, and the Liverpool sale going so badly and the Continental futures' markets showing signs of easing, has mado men somewhat fretful and uneasy. Under these conditions, the last two market day.* have been very quiet, and spinners have been wanting to buy at le^s money. But are there any solid reasons why wool should case off at all? We must say that we fail io discern any grounds whatever, and London brokers cannot do a better thing than hold the reins very tight, and declare a finish as soon as e\er there is apparent any signs of weakne-is. Both Bradford and the Continent need a tonic, and London can give it. We further make bold to affirm that when the season gets advanced and «■ few big victories are chronicled by British arms in South Africa, we shall yet see wool from Id to 2d dearer. The industrial situation is still intact, consumption is equally as large, and this temporary lull is certain to give place* to buoyancy.