MARKING TIME.

Otago Witness, Issue 2561, 6 May 1903, Page 8

MARKING TIME.

There is little to note that is interesting in connection with wool, prad marking time is the order of the day. The past week has witnessed a fair inquiry for all fine qualities, but few trareactions are reported, simply because there is a wide divergence of opinion as to what the price of tope should be. It is impossible to accept spinners' offers unless a topmaker is prepared to stand a heavy 10-^s, and with prospects pointing strongly to merino prices being maintained, holders are in no sense diGposed to relinquish their hold on the light stocks tl'ey have. Spinners", on the other hand, are equally as firm in their refusal to accede to what topmskera are wanting, saying they can obtain n.o equivalent price for spun yarns, thus between tha two things ara practically at a standstill. It is just as well at this time that prospects point to a hc-avv

shortag-c in fine supplies, or else prices would go down with a "clatter." If to-day Bradford is eomfortrbly situated as to stocks, the future i>oints to there being a pinch latei on. and this is helping to keep things steady, if they are net robust. On the whole, machinery ia being: well run, and t'-e output ;«5 largre. There is not that pressure and frse supplying of particulars that was observable n while back, and a good deal of under-bidding is being done, c^peoially by export yarn merchants. The feelinsr is general that strong crossbred? cannot looep where they nro, snd to further buy In face of London would not be sound policy. Some are cprtainly looking for a drop next week in oil wools ranging from 56's to sO«. and -possibly fine cros^breds may rchade a trifle. These erratic movements are more than annoying-, and buyers of yarns and pieops are more disposed than ever to go from hand to mouth. At the sam« time a firm hand upon stoc'-s, and not forcine heavy quantities on to the market, will tend to strengthen the position, and if a. tonic can be administered it will help to establish confidence, which is certainly wanted. Forties tops are worth anything from 9d to 9id.