LONDON WOOL SALES.

Otago Witness, Issue 2671, 24 May 1905, Page 8

LONDON WOOL SALES.

I (Bt Oue Special Cok:responi>ie7t.)> ; LONDON, March 2*. A VERT GOOD FINISH. The second series of colonial wool sales finished yesterday in very fine style, tha work done being good, solid, and satis* factory. Great surprise has been expressed} as well as satisfaction felt that the las<s week of the series has been the best, thia being a sharp contrast to what obtained in January. A weak opening and a firm) finish is productive of very much mora satisfaction than when the opposite takes, place, and instead of buyers going home) saddened and troubled, as they did six weeks ago, they have left" for home witfil the consciousness that prices are sound. 1$ is really surprising how things have* smartened up, how buyers have increase*! their pace, and how values have stiffened. The closing week of the series has beent marked by great excitement, and while tha attendance has perhaps hardly been as great* as in previous years, still there haa been no lack of enthusiasm. Righfl uj> to tho finish the catalogues submitted have beea characterised by muclt attractiveness, iU o Tools on offer being really good deb-ranie parcels. There has. consequently, been no lack of interest ort any day, and, as far as one could judge,, no section has diminished its opeia,tions. A few fresh buyers who stopped at home with: the expectation of seeing a repetition of what took place in January came into tho market of last week, the result being thafe in the majority of cases where low orossbreds were concerned id more had to be paid. The Continental section have continued to be very keen buyers of all grades, talking more liberally even coarse crossbredl wools. In addition America has operated! with consideraole more freedom, and evidence has not been wanting that some "Yorkshire people have been estimating our Yankee friends at too low a price. Ig they can deal successfully with what thej have purchased in Australia and hei&, there is then increased hope of prices still going higher later on in the year. BotTi merinos and crossbreds have been boughfe at times very freely for the United States*, and coming into the market towards the* end has given an increased impetus to tha entire lot. Yorkshire buyers have, of course, taken the lion's share, and every, thing has been bought extensively for home trade purposes. The situation is altogether stronger and more vigorous than when I wrote a week ago. CHANGES IN PRICE. There seenis to m& no necessity %& go over the ground already gone over in pasti

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letters -by pointing out the changes which have taken place, the best interests of ail parties being served if I give a summary of iihe changes. In the following table I quote closing rates compared with what pbtained xb the finish of the previous series : Australasian Wools. Giease, Merino — super par »». » good avge par to Jd cheaper „ „ inferior Jd Scoured „ super par to jd „ «' »i »vge to good par to id . -„ „ inferior Jdtold Grease, Lambs— super par -" o « * v 'fto«ood*d cheaper „ Crossbred— fine id to Id .. medium Id to IJd " » tt coarse Id lambs id H Shped .„ fine Jd " M „ coarse Id „ South African wools, »now- white super ... Id dearer „ xnddium ... par to Jd dearer „ inferior par Fleece, washed ... par Grease, combiner ... par to Jd cheaper „ clothing— light par to id „ FUTURE OUTLOOK. In the opinion of Messrs Charles Balme «nd Co. " the prospects- for merinos appear favourable. Consumption, in spite of the dislocation, of business in Russia, is larger than for some time past, -and although supplies this season exceed those of last year everything points to -jtn easy maintenance j of existing,, quotations. The course of the market" for coarse wools tibe turn of the year has been disappointing. The fall in values appears, "however, to have been arrested, and there are indications that at the rates now current -a -steady business is likely to be transacted,, so that as soon as the direct importations which .are at present weighing heavily. on the market have passed into consumption a healthier tone should supervene." Sold by Messrs Willazts and Overbury, Mxrch 15:— N.Z. and A. Land Co. .over Clydevale: Greasy — 24 bales combing quarfcerbred H 12d, 4 do 10|d, 9 do halfbred lid, 27 do crossbred loa, 38 do 10|a, 27 do lOd, 32 do 9£d, 6 do 9d, 19 do SJd, 29 do Leicester 9d, 22 do 9Jd, 6 do B§a, 7 do 8d; scoured— 4 do quarterbred pieces 16ja, 11 do crossbred llja, 4 do 9»a," 8 crossbred do 10|d, 4 do lOd, 4 lambs do 10|d. These were all right, the •wools showing character, good style, light condition, and exceptionally w«ll grown. , Sold by Messrs Thomas and Cook, same day: — Olrig: Greasy— 8 bales first crossbred llja, 19 do lid, 47 second do 9Jd, 6 thira do 9&, 31 fourth do 9d, 55 A do 9|d, 83 B crossbred B|d, 4 first do pieces 7fa, 14 do bellies 7id, 42 first 'do lambs lOd, 11 second do S3, 4 do "7£d, 9 scoured do pieces lOja, 8 do locks Qhd, 7do lambs ll£d. A clip of firstclass character, and sold like fury to Bradford buyers. Sold T>y Messrs Charles Balme and Co., March 17:— TtiM Tnkl: Grease— 7 bales B halfbred combing nd, 13 C do lid, 23 D do 106% 23 C crossbred do ll£a, 61 do lOJd, 14 D do 10a, 59 do 9ia, 17 DD do 9dL, 20 M do 81a, -4 first do lambs lOJd, 27 do lOd, 4 second &o -9a, 7 -Oura do 7id, 6 halfbred pieces 9d, 3G, crossbred 3o Ba, 18 "bellies 6ja, IS scourea pieces loa. Very useful, well grown, stylish, ana .sola well. Marchburn:- Grease — 13 A A conibing' 12a, "6 A do Ilia, 9 B do 12a, 27 AA do 33a; 32 AA do lid, 14 A do lid, 12 fio jtOfd, 8 B So lO^d, 5 C xto 10d, X 2 first pieces lod, 8 «lo 9|d, 8 second clo 7<3, 2 pieces 6%d., 5 A bellies 9d, 4do Bd, 11 locks Sid. For merinos they wer-e in splendid order, being light, dry, clean, -and aipt as fatty as many Kew Zealand "wools. Sold "by Messrs Jacomb, Son, -and Co., March- 18: — St. Leonards: Grease 12 bales first combing 12d, 29 do Hid, 20 do 101 d, 4 second ao lia, 8 do lOja, 13 pieces 9id, 13 halfbrea ~E 13ja, 3 do W 12d, 2 secona do lia, 11 ao 12d, 8 do lia, 16 crossbred lia, 6 halfbred pieces loa, 3 crossbred, ao 9a. No fault can be found here, the clip being very sound, clean, and altogether of a. good, satisfactory order. Such wool sells, and sells well. Two hearts over St. Helens : Scoured — 33* A combing H 20Jd, 4 clothing 20d, 40 A pieces 20d, 33 do 19d, 11 bellies 19 Jd, 10 pieoes 17ja, 16 locks 16d; grease— 39 A combing ma, 43 do ioja, 40 ao ioja, 39 ao 10a, 14 do BJd, 9 A pieces loa, 2 halfbrea lOja. No fault -can be fotma here, the wool being up to the mark in every respect. Sold -by Messrs "Willans and Overbury, March 20 : —^NJZ. and A. Land Co. over Hakataramea: Greasy — 32 bales combing lid, 25 do lOJd, 28 clothing lOja, 13 ao lOd, 5 broken 10a, 36 fiist Z halfbrea ll^a, 67 ao lia, 23 first ao 10ia,, 67 ao Ilia, 26 ao lia, 12 secona do loa, 14 ao 10£ d, 25 do lOd, 10 clothing 10ia, 23 do lia, 10 broken lia, 10 do 10a, 8 crossbred 10|d, 7 pieces halfbred 19d, 4 3o 18^a, 6 bellies ao 19|d. These wools were all ■righb, aaid certainly Ehowed up in a firstclass way.

■Sold by Messrs H. P. Hughes and Sons, March" 21: — BluecHffs: Greasy^ — 8 bales firstcombing lid, 8 second do lOd, 2 first pieces 9id, >18 super halfbred lid, 13 do lid, 8 do 10£ d, 4 first do ,10a, 7 second do 9Jd, 13 tljT-ee-quarterbred 91d, 13 do lOd, 15 super do 9ja, 30 do 9d, 30 Leicester 9d, 6 crossbred Bd, „ G .first halfbred pieces 9id, 7 do three-ouarter-Bied do_BJd. Most satisfactory from every standpoint, the wools being well grown, ahafty, light, and clean. C "over Otekaike: Greasy —10 first crossbred combing lOd, 4 do 9|d, 5 • do 9d, 35 first halfbred lid, 49 do lljd, 92 first Halfbied lid, 9 do 10* d, 14 second do 10a, 33 do 10a, 12 do 9d, 50 do lid, 16 do 9|d, 24 first crossbred 9d, 29 first halfbred pieces 9d, 26 do Bd. Bradford buyers ■were very busy throughout the entire clip, and nothing "hung fire. Waipahi over Wat: Greasy — 4 first quarterbred 12|d, 33 do halfbred 13d, 4 do 12Sa, 6 do lid. 13 second do ll^d, 6 do lid, 7 finsfc three-quarterbred 12d,34 do Hid, 4r second do lid, 15 do 10id, 3 do lOd. 13 first Eomney lia, 10 do lOJd, 9- do half bred meces lid, S three-quarterbred clo 10|d. Exceptionally well grown, very light in condition, and wools of a superb Character. Cross over circle: Grease Combing lOd, jbtalfbred lid, three-qnar-terbred lid, crossbred B£d. Good, useful wools, possessing sound characteristics, and keenly competed for. J : Gißa.se — 7 snper combing Hid, 52 do lid, 15 crossbred do lOJd, 37 Romney do lid, 61 do 10id, 101 do lOd, 7 R do 9|d, 51 crossbred dc T.oa, 8 do 9a, 2 do B§d, 3 do black 7fd, 3.8 first do lambs lOd, 3 second do Bd, 7 first do pieces B£a, 22 do Sd, 20 bellies 7ja. These were right enough, selling very freely. Tamrmnnz Grease — 17 crossbred combing lOJd, 51 do 9ja, 52 do 9d, 5 do 9ja, 101 do 9d, 61 do- -withdrawn, 7 do 9d, 74 Lincoln BJd, 8 crossbred lambs 9£d, 15 Lincoln do 9|d, 10 crossbred pieces 7id, 8 second do 6fd, 28 do Bellies 6|d. These will produce some nice 40's tops, though the wool was hardly as clean •s some former clips. BRADFORD - BETTER. home wool market at last chows Wtgos of some recovery from its recent state depression, and Bradford is * )et *er. Yesterday's market was the firmest " e ,™ aTe aeen f°r a considerable time back, •zia after last weelk's decided weakness in ■* w <*°«>b i rea top 3 it is some satisfaction to know that *t lsst » new basis is beins

reached, and prices *are hardening. London has undoubtedly been a strong contributing force in bringing about a welcome change, and now that a firm finish is assured we may look for a little more recovery. Last week's market was by far the weakest that ! has yet been seen, and as London seemed to improve Bradford got worse. This was entirely due to very weak holders and some forced realisations of import wools, but ■ when verbal testimony was heard by thos<s returning from Coleman street that 40's \ tops were a penny above Bradford, holders [ saw the absurdity of their position, and ' tightened their hands all round. A good 4-o's top is to-day quoted variously from 13d . to 13»>-d, and the acquisition of a few orders from Japan or a free movement on home trade account would soon galvanise crossbreds into activity again. There is no want : , of wool, but at the same time the Austral- . asiaji clip is arriving, with no accumulated stocks, consequently the trade should be i able to deal comfortably with fresh arrivals. The recent sharp decline has been * due entirely to a few importers losing their f heads, and some very respectable losses have j to be faced. Londcn has certainly given a good account of itself, and this has 1 "capped" Bradford in particular. Some J topmafcers sold in anticipation of a ' further decline while London was improv- ? ing, and if the war continues such sellers 2 will find themselves not in a very enviable £ position. I see no necessity for any further * weakness in low crossbreds, and directly a i new basis has been aTrived at a good busi- s ness should be done. * Merinos and fine crossbreds, if not quot- -* ably dearer, are hardening, and nobody is r prepared i>o sell at less money. A good r super 60's top of the best makers cannot s be secured under 24d, and consumption, if r anything, is improving. There is less quib- f bling over the price of merinos than there & is over croßsbareds, and yet for all that I I cannot see much justification for values ris- -s ing. A steady market will produce the best t results and tend to stimulate our home 1 trade, which continues to be a rather weak a factor. Mohair is anything but lively, and g business can only be done in qualities for t thick counts. - s