LONDON WOOL SALES.

Otago Witness, Issue 2686, 6 September 1905, Page 8

LONDON WOOL SALES.

(Fbom Oub Speciai Correspondent.) LONDON, July M. MERINOS AND FINE CROSSBREDS FIRM. A good week's business has been done, and prices have remained fairly steady and firm throughout, what changes i avinig occurred affecting wool growers in a very limited j way, 'only here and there a little irreguj larity occurring. Considering the time of the year, the catalogues have comprised some'fa'.rly creditable offerings, and no complaint can be effered on the ground of poor supplies. Th© ■vre'ather has been raili-er trying, and; much hotter than usual, but for all that buyers have worked hard, and no lots have been neglected. Every day the room has been well filled with men in a buying frame of mind, Yorkshire houses ', especially operating with great freedom; in fact, it has been frequently commented ' upon that the home trade have done splendidly, andl bought with a will. The result is that the catalogr.es have been speedily ' cleared, and where limits have iiot been extravagantly .high, they"*- were- easily reached. The American section has been a good deal in evidence, and 1 instead of rushing things like they did in May, they , have contented themselves witE simply taki ing wool if it came at a reasonable valuo; 1 but foi running things up a they did at, last series, r.he pendulum has swung to the other extreme. Merinos and 1 fine cro#fbred3 can be quoted fully firm at opening values.. but wools specially favoured by America in May are down Id' to l^d per lb. This refers to 44-'s and 46's quality, and instead } of seeing 13d to 15di paid for them, as was ; the case in May, they are to-day obtainable ' at 12d to 13d. This' will be a disappoint- ; ment to som© New Zeilandi growers, but it must not be forgotten that before -ifcheso were special favourites with Ajinierican buyers, and seeing the mistake they made two months ago. and their wants fully supplied, they have reduced their limits, and bought, these wools when they came at their values. • Coarse erossbsreds have continued to sell most readily at th© full opening advance, ifche prices paid throughout the <week being very good indeed. Tho Continental sec tion have - also operated freely, France • i and Germany purchasing both merinos and crossbreds. wh'l© a few of the _,best- scoured merinos have aba gone to Russia. Capes are the worst, short, wasty parcels being largely withdrawn; good, long, light -conditioned grease and scoured parcels sellingj ' the best. The series 1 are finishing- to-hight, ' but full closing particulars will be given j:ext mail. Sold by Messrs Thomas and Cook, July 6: Ohoka: Scoured —2 bales super combing 22d, 5 do 21£ d, 23 B do 21d, 14 pieces 19d, 12 S do 18d, 43 bailies 21d, 34 locks" 16d, 2 f quarterbrcd 21d, 6 halfbred 18d, 2 crossbred ISJd, 22 A halfbred piecas 191 d, 31 do '-lSd, 66 do 14ja, 21 do bellies 19ja, -76 three-qtiarter-bred pieces 14Jd, 39 do 12d, 39 do 11R 60 bellies 16d. These made a fine show, the j scouring being very well done; were clean, I and the wools good. Sold by Messrs Charles Balme and Co., July 7:—Crown over Ormaglade: Scoured —l bales super combing 21d, 5 first do 23|d, 4 do 23d, 7 do 22d, 4 B do 20|d, 5 first clothing 22d, 7 necks 22d, 6 do 22d, 5 S do 201 d, 6 super pieces 23d, 4 do 22£ d, 12 third do 21d, 4 C do 19£ d, 9 bellies 20Jd, 8 looks 16Jd, 4 do 16d. In perfect condition, th© wools being in excellent order, bright, dry, and lustrous. Square over Haldon: Grease —2l bales firstr combing 12d, 16 do ll*d, 71 do lid, 7 second do lid, 23 do lOid, 6 clothing 10d, 5 R lOd, 10 first pieces lid, 14 second do 7Jd, 16 bellies 7d, 6 locks 6d, 7 do 5Jd. These were nice merinos, very well grown, so-und, and wanted. LL: Grease —l 3 bales combing HJd, 15 do lid, 4R do lOd, 2 necks 10Jd, 2 first pieces Bjd, 7 halfbred combing 13d, 9 do 12d, 27 A' do 13d, 33 B do 13£ d, 3 do lljd, 36 crossbred combing 12d, 5 do lid, 3 do 10£ d, 7 'halfbred necks 12d, 8 do pieces lOld^lO bellies 9d. A 'good, useful lot of wool, indicating a good quality, every lot selling most readily. Ifeefield^ Grease —9 bales super combing 13Jd, 17 first do 13id, 16 second do 13d, 17 super do 13d, 70 first do 12Jd, 11 second do 12Jd, 34 do 12d, 8 third do 12d, 13 do lid, 4 first pieces ll*d, 13 do Hid, 8 second do lOd, 32 do 9£d, 2 third do BJd, 4 bellies 9£d, 6 do SJd, 10 do Bd, 19 locks 6id. These wools were in very light condition, and sold remarkably well. Sold by Messrs H. Irwell and Co., July 7: PB: Grease—l 2 bales first combing lid, 5 halfbred 14d, 12 first crossbred 12Jd, 5 do 12d, 15 three-CLuarterbred 13d, 2 crossbred pieces 9d. Well grown, sound, shafty, clean, and in good average condition. The. halfbreds were particularly good. Sold by Messrs John Hoare and Co., July B: —Two Hearts over Burwo'od: Grease —ll bales quarterbred combing 14|d, 13' crossbred do 13d, 20 second do 12Jd, 4 third do 12d, 26 do 11 id, 9 do pieces IOcH, 5 do bellies 9£d, 16 scoured pieces 121 d, 9 do locks 13d.~ These wools lacked nothing, the clip being creditable to a degree. Sold by Messrs "Btixtan, Ronald, and Co., same day: —Mt. Torksse: Greasy —7 bales fust combing lljd, 6 do 13d, 23 do 12k"l, 8 second do Hid, 6 do 12d, 39 do Hid, 8 do lid, 7 first Hid 13 do lid, 8 A pieces 10|d, .13 bellies lOXd, 2 pieces 6|d, 7 locks 6|d, 5 scoured first couibing 22id, 19 second do 22d, 3 do 20£ d, 6 piecus 20Jd", 2 do 14Jd, 3 locks 144 d. This was a nice lot of wool, sound, well grown, and shafty. Sold by Messira H. P. Hughes and Sons, July 10:—Howard: Greasy —6 bales A combing llkl, 22 B do lid, 11 0 do lOid. 3 first pieces 103.d 6 qtiarterbred I2kl, 20 A halfbred lid, 43 B clo 12§d, 47 C So Hid, 11 A threequarterbred 12d, 16 B do 12d, 18 C do 12d, 4 crossbred lld,i 3 first halfbred pieces lOd. Scoured —i combing 21d, 2 first pieces 20Jd, 6 B do 20ja, 8 third do 18£ d', 8 B halfbred "ES 21d, 6 C do 20d, 4 A three-quaa-terbrsd 20d, 4 B do 18jd, 4 B crossbred 15Jd, 3 C do 14d, 3 first halfbred pieces 19d, 8 second do 19d, ; 3 first three-quaiterbred do 17|d, 2 sec«id do { 15id A S third; do Ud. This was all ri£«u the

' wool being good, bright, clean, and sold vertf combing 14Jd, 26 A dp Ud, 89 do^d, B£o 10d, 7 second do 10d, 61 d ° 9 2£, A* fi clothing WJd, 36 do 9^, 14 DF BJ4 » fi «J pieces Hid, 33 do lO&d, U Wl^s Bd, 3 half bred second combing IOJd. Scot*** -5 second combing 21£ d, 10 dp third pieces 21d, 65 do 21d, 33 belly do 20|d 8 S do lg|, 31 looks 16Jd, 8 halfbred third pieces 18|d. The«e were all right, the wool being m very good order, well grown, shafty, and *™f d - , Sold by Messrs Thomas and Cook, July 11 . Waimu:" Grea.se -14 bales first comtag lid, 4 second do lOd, 6 A do 10d, 11 ha jfbwd combing Lid, 22 first do 14Jd, 61 do «» A do 12d, 136 first crossbred do 12d, 56 do lid, 12 do thrtve-quarterbred do 10 Jd, 27 do 3 Id, 2 first halfbred dead lOid 8 do ««* IW* 6 crossbred pieces IOJd, ]25 do 7*d, 10 firs« do bellies BJd. These were all right, the clip being a creditable one. The wool was keenly competed for, and sold remarkably well. GREAT FIRMNESS IN PRICES. Tho market during the- past week has, if anything, assumed a stronger phase, ana all holders of the raw material are manifesting great strength. London has had the eftY.ct of causing toomakecs to insist upon hieher quotations, and on ev«ry hand a, slightly higher price is being met witftThis seems to relate more to the merino section of the trade than the crossbred, it being maintained that Bradford prices aro now on a level with Ooleman street. A good 40's top can still he bought at lp£cr, while super 6O'<3 are now Being- quoted as luoi as 26' id. Most users seem pleased that at C last an element of reasonableness appear^ fco have come over the American section of the trade, and there is not that wild running after wool in English markets sJ-« bidding extravagantly. It is now being acceded more generally that wool JaluesJ aIues are resting on a very firm basis, and that prospects point to to-day's rates being maintained. London continuing firm is encouraging holders, who are anticipating that alB stocks to-day will be- fully absorbed at full current prices Consumption is being maintained on all hands, and this is causing men with the raw material to look upon today's values as being safe. It has been mentioned that some Japanese war ' orders a>-e stirring, but I cannot confirm' tho ' actual placing of the same with .manufacturers- Tho longer tho struggle is drawM out, the more likeliness is there .or khaki orders being placed, and it only needs the placing of two or three to set thfe mar-, ket all on fire. Export requirements 'continue to be fairly large, and some large quantities of tops are still going abroad. Yarn spinners continue to complain bitter-ly, and there is no shadow of a doubt but what their position is a. most difficult one. Exporters who placed contracts last spring a-re now realising a "thumping good pro- ' fit," even though they are selling at about 2d per. lb under to-day's quotations, and 1 it 'is this fact, which is causing a_ fair'- amount of machinery *o stand. ' Outside' manufac.turers continue to be fairly busy, and thi3 ' is an important item. Mohair is not so brisk', and while a good deal less is doing, still prices are very, firm, and "spinners 'heire are busy: English wools continue to be •well held, and merchants are still in a buying attitude. Country prices are higher ', than- Bradford, but that matters; little 'whenv ,' farmers can'^ sell their wool readily.' All' descriptions are being taken both for, homo a,nd export, and the outlook is still "of at favourable character.