LONDON WOOL SALES.

Otago Witness, Issue 2914, 19 January 1910, Page 21

LONDON WOOL SALES.

(From Our Special Correspondent.) LONDON, December 3. PRICES BARELY MAINTAINED. Another week of good business can bo chronicled in connection with the series now fast finishing, though in the case of medium greasy merinos the high prices of last week have been hardly maintained. This relates to wools giving a clean yield of round 40 to 44 per cent., and which last series sold eo freely at about lid to 11 id per lb. To-day they are not fetching more than lOd to 10£d, and even at that they are costing quite enough either for Yorkshire of Continental buyer*. Users have found by scouring results that these wools, while well grown, are much too high for everybody, hence the slight decline is but

a natural reaction from the high level created by a famine demand. West Australian, New South Wales, and Queensland merinos have all alike felt this slight reaction. Good scoured merinos ha%o slightly improved their position since last week, and the best wools are now sailing on a parity with September rates. _ Queensland station ecoureds were never in better condition, and both the home and Continental trades have taken them freely. Good shafty pieces and bellies are also selling in a first class way, and even locks for carbonising are (mite as dear as they were last series. What is a distinctly disappointing element is the absence of American support, and the quantity taken of merinos by the United States is" very small indeed. Turning to crossbreds, greasy wools have only been but a small handful, practically all"the offerings comprising aliped descriptions. For these there has been a very good demand, chiefly on home trade account, and here the rise is most pronounced. The fin© halfbrod lambs selling up to 16d show no .change, but when we come to the medium and coarser qualities there is an advance of Id to per lb. This is largely due to the extra length of staple, a prime factor with Bradford top makers who are wanting these wools for carding tope. Cape wools have been fairly well represented. Where there is any length last sales’ full prices are paid, but the shorter, vvastier wools are more irregular, and prices are id to id cheaper. Snow-whites have been very scarce, and these are still easy of sale at very good figures. Just to show readers how things are selling, I give particulars of what leading Australian clips have made at the December series during the past three years:

The situation in Bradford does not show any radical change compared with a week ago, and this notwithstanding the increased firmness of the London market. The new business passing is very meagre, simply because the majority have put up prices per lb in order to cover the increased cost in London. Users her© have not as yet made up their minds to pay any increased rates, and they are going to wait and see future developments before paying more money. All alike recognise that Coleman street is sensibly above Worstcdopolis, and yet nobody is keen to buy. It is generally felt that users are simply paying, extreme prices by way of covering, ard that it is largely force of circumstances which is actuating and determine" values at the sales. Business continues to be good even though there is not a lot doing. Crossbreds have responded locally, and 13|d to 14d is now a more general, quotation for 40‘s tops, 16d to 164-d being also realised for 46’-s. What, perhaps, surprises people most is the way the raw material is .moving, but it is largely because users must have it to keep going machinery and discharge obligations. London has convinced those who were sceptical about too soundness of prices that the situation is inherently strong, and' that there must be proceeding everywhere a tremendous consumption. The stock of tops in Bradford is somewhat light, and all topmakers alike are quite prepared for the of their colonial purchases. Consumption is well maintained even in crossbreds, and there is still a fair weight, changing hands of carded descriptions. These tops are being mostly consumed by crossbred spinners in producing thick yarns for the Continent, and the trade is fairly good' in them. Consumption all round is still maintained at the maximum,, and there are plenty of particulars coming to hand which fully take off what spinners are producing. Mohair shows practically no change, prices being firm, with machinery all going. Taking things in their entirety, there is not much to grumble at. business being healthy in all departments.

NED’S CORNER Sixth Sixth Sixth series, series, series, 1907. 1908. 1909. Description. d. d. cl. Greasy suner comb, ewes 12 13 13 ., hoggets 12 131 — „ First E hoggets .. 1U 12 ii! ,, W hcggets .. 111 121 ii ,, ewes U! 12 Hi ,, Second hoggets .. 10 9i ll Second comb. ewes 101 101 10 ,, clothing .. 9 9 10 necks E 11 101 10i» „ first pieces .. 10 9 91 ,, bailies 8 7i 8h first lambs .. 10 10! ll HAWKER OVER CA'RRIEWERLOO. Greasy AA comb. hogs. 111 13-11 121-111 ,, AA comb. E hog's. 11 12 12 AA comb, wethers 11 12 12 AA comb, ewes .. 101 111 12 ,, A comb, hoggets.. 111 11 11 A comb, wethers 11 11 11! ,, A comb, ewes .. 11 11 H! ,, combing .. 10 10 10! ,, first pieces hoggets 101 101 10 „ first pieces .. 10 10 10 bellies hoggets .. 9 9 9 bellies 81 8 „ first lambs .. 7J 8 S! „ Iambs 6 6i 6^ TOPMAKERS ASKING MORE.