LONDON WOOL SALES.

Otago Witness, Issue 2541, 26 November 1902, Page 8

LONDON WOOL SALES.

(Fkou Our Special Correspondent.) LONDON, October J. A FIRM FINISH.

It looks almost as if wool had entered on a new era, and that we were about to see the dawn of better times, both for merinos and crossbreds. The experience of buyers 111 obtaining wool this week has been if anything more difficult than ever, and the opinion has been general that a man must be prepared to pay full up prices. Some thought that the big prices of last week would never last .0 the finish, that at least in medium and low cro«sbreds we should ccc some giving way ; but all such prognostications have fallen short of being fulfilled, and the fifth series finishes with prices at theii best. This i: what should be, for by values remaining so firm to the end sends men home in the best of spirits, ready to use London as a lever in getting prices up t< the level of the metropolis. The sales, finishing as they have, has given men to see that wool occupies a relatively sounder position than many even thought merinos did ; and as for crossbreds, the complete transformation that has beeu effected

has been sufficient to lift things entirely out of the Slough, of Despond.

Before a continuous and well-filled room the last week of the series began, with buyers fully ready to sweep the deck of whatever was put before them, and all the sittings^this week have been, marked by great animation and competition of the keenest sort. It is almost invidious to single out any one set of buyers as being more responsive than any other — every one feeling that there was no time to lose if he would have wool. This has been incentive enough for all buyers who have tried to improve the passing hour, and unless limits have been practically prohibitive, the catalogues have been swept. "Withdrawals hay« only iaken place under these conditions, and for anything at all decent prices paid have continued at the best. Every day the catalogues have consisted mostly of New Zealand crossbreds, but their recovery almost marks an epoch in the colonial wool trade of London.

It has been said that the fifth series would be the testing time, for fin© wools in particular. lam glad to think that if the testing time has bee-n on, wool has come out of tho ordeal all the better for being in the fire, and men can see now more clearly than a month ago where matters actually stand. The sales opening firm, with a 5 per cent, adrance in merinos, real solid progress hag been made almost every day, and with a hardening tendency throughout the final verdict shows that even the most sanguine expectations have been mor» than fulfilled. All sections have done th«rr best, the home trade being, as usual, the heaviest buyers. The large takings by Bradford tonmakers of New Zealand crossbreds helps considerably to swell the horn© total?, the Continent buying liberally throughout of merinos. America, too, has patronised liberally both fine wools and crossbreds, but her takings of 7000 bales falls sensibly short of what she took at the July auctions. However, the help rendered by all parties has been sufficient to send up values for all desirable classes of wools, and the final results show up splendidly when compared with the last series. Summing up. super merino grease has advanced £d to Id per ]J>, good to average parcels id, and inferior about id. Scoured wools have been in good request all through, and finish, id to Id up, medium par to id ; but inferior lots are par to id cheaper. Merino *?ambs are likewise id dearer, and bad to buy at thnt. Crossbred grease, when fine, is par to id up, medium to fine parcels 3d to Id, medium id, coarse- id, and crossbred lambs are fully par with last sales' rates. Fine crossbred, when scoured, is likewise par to id dearer, medium qualities id, and coarse id to id. Sliped wools have risen id when of five quality, medium and coarse

South African snow-white surer is also par to id dearer, medium .par. but faulty and wasty lots arc ipar to £d cheaper. Fleece washed is likewise id to id dearer. Grease combing, when long, finishes to id higher, but clothing sorts, short and wasty, are par to id cheaper. The next series open on November 25, and the outlook is considered very satisfactory. CLIPS SOLD AjSTD CRITICISMS. Sold by Messrs Buxton, Ronald, and Co., September 24.— NZ &: AL Co over Kawarau: Greasy— l 7 first combing lOJd, 19 do 10d,'46 do lOJd, 12 do 10d,- 42 do 9d, 41 do 9d, 14 second dc9Jd,'29 do 10 Jd, sdo 9?. d, 25 do 9d, 13 do BAd, 29 do lOd, 13 do 9d, 37 do Bid, 18 do 8h&, 9 combing B*d, 8 do 7Jd, 13 broken 9id, 14 do 9Jd, 13 first pieces lOd; scoured— 4 first combing 20Ad, 6 do 19d, 4 do 18d, 6 second do 18Jd, 7 do 19d : 5 first clothing 18d, 7 combing 18d, 5 pieces 19d, 21 do 19£ d, 27 do 19d, 11 B do 18} d, 16 do 17Jd, 8 do 17d, 7 second do 18d, 15 do 17Ad, 10 do 17d, 5 do 16d, 2do 17d, 5 'do 15£ d, 3 % do 16d, 10 locks lojd, 15 do 15d, 5 do 13d. These were in firstclass order, and certainly made very full prices. The wool throughout was first class, though seme of the merinos were rather fatty.

Sold by Maasis Willans and Overbury, September 25. — Rhoborough Downs: Scoured — 4 bales first combing 20* d, 23 do 19>.d, 14 A do 19d, 9 B do 19d, 18 second do 19d, 27 third do 185 d, 17 fiist clothing 18J.d, 10 second do lSd, 2 B 17Jd, 3 first pieces 18^1, 6 second do 18d, 4 third do 16J,d, 3 do 15id, 2 do 14d, 6 first bellies 18Jd, 6 second do 16id, 10 locks 14d. The scouring here was done in a firstclass way, every lot being clean and well done. The absence of all burrs meant a good deal in fetching high prices.

Sold by Messrs H. P. Hughes and Son 3, September 27. — Fernhirst : Greasy — 9 bales combing first super lljd, 6 do lid, 3 do 10.'.d, 4 pieces suiaer 9Jd, 3 do 7Jd, 7 halfbred conroing first super 10d, 11 do first 9d, 10 crossbred combing first GJd, 7 halfbred pieces GJd. These were in excellent order, very, good quality, stylish, light, and very well grown. Merinos were splendid, and the exception.

Sold by Mssrs Charles Balme and Co., same day. — Wainiea : Grease — 3 bales first crossbred combing; 4}d, 18 do three-quarterbred do sd, 36 do 5Jd, sdo pieces 4Jd. These crossbreds were not by any means special, and both condition and style wants well maintaining-. Kaitoi • Grease— 9 holfbred combing 62d. 12 do 6id, 12 crossbred do sd, 16 do sd, 30 three-quarter-bred do 4Jd. 7 damaged 4id. Nice wools, being useful, well-grown, sound, and decent length. Mairyna: Grease — 2 fiist combing Bd, 21 halfbied" do 9d, 15 first do B£d, 10 do 7d. 23 do cicssbred do GJd, 9 do three-quarterbred do sd. These were rciy good wools, and""just the ticket for Bradford.

Sold by Messr Buxton, Ronald, and* Co., September 29. — Cross ovei circle: Greasy— 3 bales merino BJd, 6 first hnlfbred combing E 9.d, 5 do W lOd, 19 second do E 9id, 16 do W 9Jd, 5 first three-quarterbreel do E 7id, 22 second do 7id, 8 do W 7id, 8 first seven-eighths-bred combing 6d, 4 do crossbred sid, 9 fiist halfbred pieces BJd. 12 do three-quarterbred do GJd; scoured— 6 first halfbred combing 15d. 12 do 14d, 6 second do 13d, 12 do 14d, 4 third do 12d, 11 do 13id, 6 do lHd, 13 first threequarterbred combing: lid, 23 second do lOd, 30 third do 9d, 22 do 9id, 9 do 9d, 8 first seven-eighths-bred combing Bd, 6 second do 7d, 9 do 7Jd. 6 halfbred nieces 12d, 8 three-quartei-brcd B lo 10d, 2? do Bd, 7do bellies 7d. Tin? was a very large line of wool, and sold very readily indeed at full rates. The wools were very well grown, first-class quality, ~,nd light in condition.

Sold by Messrs H. Irwell and Co., same flay. — Rata ovei E : Grease — 7 bales first combing Bd, 38 halfbred first do BJd, 61 crossbred first do GJd, 16 do 4id, 24 three-quarterbred do sid, 57 do 4Jd, 39 do ihsfe pieces 4id. These prices are satisfactory, the wool, too, being creditable, very good, and useful throughout Sold by Messrs Thomas and Cook, September 30.— GT : Scoured— 2 bales combing 18Jd. 10 do 17d, 10 pieces 15Jd, 13 quarterbred 15£ d, 22 super halfbred 13Jd. 26 do lOJd, 8 crossbred 7£d, 4 supsr halfbred pieces 12d, 5 do lid, 5 do lOJd. 5 thvee-quarterbred do 7id, 3 dc 6d, 4 crossbred dc sd. Those, were pood wools, very well scoured, and commended animated competition. Most of the lots weut to the home trade.