LONDON WOOL SALES.

Otago Witness, Issue 2454, 27 March 1901, Page 6

LONDON WOOL SALES.

(From Ouk Special Corbespondent.) PRICES A LITTLE WEAK. LONDON, January 25. The sittings of the wool trade have proceeded apace, the daily gales not being marked by anything extraordinary, save the sad blow which has befallen the nation by the death of tho Queen. This incident of itself has been sufficient to affect everything, casting a gloom over the entire market. A noble Queen, a good Queen, a motherly Queen, tha whole world is to-day the poorer by her absence. Before a very full room every day's sale ha 3 passed off with very good spirit, the chief operators being the home trade and Germany. Up to the beginning of this week the hardening tendency noted in my last letter became more pronounced, and for the best-con-ditioned, well-grown, shafty merinos, both in grease and scoured, the rise was fully £d above i last sales' rates, with an occasional Id, when a special brand was on offer. Such clips as are grown in the western part of Victoria, Adelaides, from the south-eastern part of the colony, New South Wales, and New England WOOI3, and also good clean scoureds from Queensland, have all sold at a most commendable rate at the best prices of the series ; but when we come to only medium wools, and those lacking' character and yield, competition has slackened, causing prices to recede in many casep, and the worse the wools the more irregular is the bidding. This is rather disappointing, but it shows the real state of tha market, and only confirms the fear expressed last week of the trade being somewhat indifferent, prudence and caution dominating the entire situation. Bradford market has failed absolutely to respond to London's voice, and as prices are reported woree, together with Continental futures being lower day after day, it has rather tended to upset the market. The same irregular tendency has affected fine New Zealand crossbreds, which are down on last sales' rates, while coarse qualities are no better, tkovah the be»t lots

are helped when American buyers arc bidding. In South African wools also the opening advance has lacked confirmation, especially in short, hea-sy six-months' wools', scoureds selling the best. In the presence of ample supplies there is no wonder that the trade shows extra discrimination.

Sold by Messrs H. Irwell and Co., January 17. — HH: Slipc — 1 bales first combing merino 10£ d, 2 do clothing do Bd, 11 do combing halfbi'cd 9d, 30 do combing crossbred 6Jd, 35 second do 5Jd, 2 do clothing do 52d, 40 do combing three-quarterbied 6id, 15 do cio3sbrcd 7Jd, 2 first pieces halfbred 7Jd, 7 do crossbred sd, 4 scoured first clothing 10id, 2 do lljd, 2 do first pieces 7£d, 4do 3Jd, 3do crossbred 5Jd. Generally speaking these slipes were m fairly good order throughout, some being better than others. MM: 7 slipe first combing JHd, 10 do Bd, 13 do three-quarterbred 7d, 21 do Leicester 6£d, 2 do clothing do Gd, 11 washed second crossbred 61d, 4 do third do sd, 1 scoured first clothing l-ljd, 1 do Hid, 6 do locks 6d. Good useful wools, and taken mostly on Bradford account. Sold by Messrs Ch?rles Baline and Co , Jan. 18.— Clent Hills: Grease— 6 bales hoggets first combing withdrawn, 5 do second do 7|d, 33 "irst do withdrawn, 9 do withdrawn, 9 clothing 7Jd, 12 pieces withdrawn, 14 scoured first combing 16id, 4 do 15Jd, 2 do R do 16\d, 17 do second do 15d, 4 first clothing 14d, 30 second pieces 15d. 15 third do 14d, 14 bellies 15Jd, 13 locks 12id, 3 first halfbred combing lid, 2 second do pieces 9id. This wcol was of a very useful order, showing good breeding, good quality, sound, and of a useful stamp. For New Zealand scoureds the prices paid were fairly good. Bell over Owhaolio: Secured— B bales first combing lod, 8 second do 14|d, 5 third do 14Jd, 25 do 15d, 10 first pieces 15d, 20 Fscond do 14d, 9 B do 13Jd, 8 fiist halfbred 13£ cl, 8 third do lOAcl, 21 do ll|d, 5 crossbred lOJu, 2 halfbred pieces 9id, 2 S do 81d, 2 do 6£d, 2 S B do 71d, 12 crossbred do 32d, 7 do 9d, 3 do bellies lOd, 3 halfbred locks 7d. I thought the scouring of the crossbred was relatively better than that of the merinos. G ood average wools. C. in triangle over Moa Plat: Scoured — 3 first combing 17d, ,9 third pieces lid, 2 B do 13Jcl, 4 'do lid, 8 locks lOd, 4 third halfbred pieces lid, 5 do 8-Jd, 3 eecond ciossbred combing lljd, 5 third do pieces Bld, 2 B do Skd, 2 do 7d, 2 halfbred lock 3 BJ,d. The scouring here was excellent, the wools too making full market rates. Sold by Messrs Buston, Ronald, and Co., January ' 19.— Triangle over CJN: Greasy— lß bales B crossbred BJd, 68 C do Bd, 48 do 7Jd, 53 do 7Jd ? 7 F do 6|d, 7 fiist crossbred pieces 5Jd, 11 3° Bdo 4 t<3> 20 c^° s 2^j ? - &° 4( *> 4 second do locks 3d, 2 do 3d. No fault can be found with this mark, the crossbreds being veiy good, the first lots going to America. Let others imitate. St: Greasy— B B crossbred 7Jd. 34 do Cid, 36 Cdo 6id, 19. D do 7d, 76 Ao 6£d, 7 E do 6Jd. 15 do 6i~d, 4 L 6',d, 8 do 6\6, 8 crossbred necks withdrawn, 7 first do pieces withdrawn, 6 second do pieces s}d, 13 do bellies withdrawn. This well-known brand showed a first-class grown staple; was in fairly good condition, and average quality. Claverley over Three legs over Utu : Greasy— 37 A combing 9d. 12 B do Bd, 5 do 7f<3, 29 pieces 7id, 2 do 6Jcl, 5 locks 3Jd, 2 do 3d, 3 first halfbred 7Jd, 2do 6|d. For merinos no fault can be found. The wool was very well grown, excellent^quality, and in good condition. Fen Court. N.Z., Waikato. in Tioreeshoe: Greasy— l 7 fast down combing withdrawn, 9 second do 6Jd, 28 first crossbred do C^d, 26 do 6Jd, 4 do 5Jd, 14 second do 6|d, 10 do~6|d. 39 do GJd, 10 do 5Jd, 5 do 6Jd, 39 three-quarterbred combing Gid, 4 do s}d^ 5 crossbred s|d, 8 first crossbred pieces s|d, 28 do 4|d, 2 do 4Jd, 6 do three-quarterbred do 6Jd, 9 second crossbred lambs s>2d, 6 do 5Jd This was a large line of wool, but the prices made weie rather poor. Look well to quality, style, and condition especially. MIIM over Redcastle: Greasy — 9 super combing 7id, 4 first do 7hd, 4 do 6jd, 4 do pieces 62d, 56 first crossbred combing 6'd, 15 do 6|d, 34 do 6d, 35 second do 6jd,. 39 do 6;d, 24 first do pieces B\A. The merinos were veiry good, but veryfatty. This i 3 not a bad fault, usually signifying a good quality and soundness of staple. Crossbreds, average. Ashwick : Scoured — 7 first combing 17d, 13 second do withdiawn, 2 first do 15£ d, 2 second do 14£ d, 11 first pieces 15Jd, 3 second do HJd, 5 thud do 15d? 2 locks lOd, 14 first halfbred combing 14d, 8 second do combing- 14d, 8 sacond do 13d, 2 first do GJd, G first three-quarterbred do 12d, 4 second do lUd, 27 do lid, 12 first pieces ll£d, 6 second do~l2Jd, 6 third do lid, 6do bellies 12d. These scoured lots were very well done, the wool, too, in the varied qualities being likewise good. Wool to-day in Bradford is hesitating-, halting, and, like a stupid horse, refuses to go forward. No doubt the national calamity has had some depressing effect upon the market, but we attach very little importance to the present ciicums,iances, and sentiment has to some extent taken the place of reason. And as we sorrow at this moment over the dread outlook, as it affects the Throne of England, the present circumstances are being made the most of by those who have another axe to grind — namely, that of getting down the values for tops, and at this we feel a little nonplussed. We deaire earnestly to put on remembrance that there is in Bradford a certain clique who seem' to revel in the art of bearing down the market, and during the past week they have done their level best to discount the show of life that has been manifest in London. The fact is the sales opened just a little toe lively for those who have contracts made at low figures, and their abstention from, buying has helped the impression to gain ground that values fire not so firm as they wers during the first three days of the sales. In no sense whatever bas the Bradford market t-esiponded to London, and whtere values are certainly higher at the distributing centre than here, there is, if anything, no tightening of forces, no sticking out for bettei values, but an actual offering by spinners of less prices than what obtained before the sales began. This is grievous if the truth is told, and topmakers are in a quandary, not 'knowing what to do. There is no doubt that the present available quantities of wool have frightened a good number, and tho fear noted last week of the trade not being able to absorb at present values tho stocks in London has become accentuated lather than otherwise, and this has caused the outlook to deepen in fo far as it affects Bradford. The price of 60's tops is not in harmony with the price ruling in London, but, nevertheless, we hope the good tone already displayed will continue to the end. If values can be kept up to the finish as have prevailed during- the opening week it will be a wonderful achievement, and this is what is wanted at the moment if the Bradford mai,'cet, and even other centres, is to be saved. A strictly waiting policy is being adopted until men see what will be the ultimate outcome of the sale 3.