LONDON WOOL SALES.

Southland Times, Issue 14096, 30 April 1909, Page 7

LONDON WOOL SALES.

EXCELLENT DEMAND AT HARDENING PRICES. (From Our Special Correspondent.) LONDON. March 19. The second series of sales continue to make excellent progress, and since I last ■wrote a splendid time has been experienced. Each day has seen brought out a good selection of wool, and on all hands full attention has been given to it. “With the whole buying strength of the entire trade now being focussed upon London, it would be strange indeed if some good times were not being experienced, and with there being a strong and confident feeling over the future, a real good time is taking place. Buyers were never more willing to operate, and on all hands the feeling is a very strong one that what is bought to-day will be right. This means that prices are again hardening, and I am certain that since the opening day values have got on a higher level. The demand is running keenest upon good medium combing merinos, and these are now up a full Vjd per lb. Some think the rise extends to a penny, but that only obtains on a special lot when American influence Is felt- The general run of grease merinos Is about ’id more than last series, and at this there is an excellent demand for fine qualities. The Continent is giving splendid support; in fact the way Germany and Prance is competing it quite a surprise. Evidently they have strong confidence of the future, for with heavy arrivals of direct imports they are still operating most extensively, and will continue so to do right to the finish. Scoured merinos have undoubtedly improved their position since the opening, for whereas-ring the beginning of the series th „ oni! little improvement, a penny r- JOV a cl , seen In most lots. There It Tj nt demand for West Australian sd Bradford topmakers paying up to 13d fo- these wools. Shafty pieces and broken .vools are selling at the full improvement, but scoured faulty wools do not show much change on last series. At the same time these are selling very well. GHEAT nTTTiTATm POB CEOSSBEEDS. Crossbred wools are meeting with excellent competition, and the demand Is very keen both on Home and American account. One cannot help but notice the great competition there is for everything in the crossbred line, and while the Home trade is operating on the largest scale and taking the bulk of the wools, still Germany is buying liberally good medium and fine qualities, America continuing Its operations on the same large scale as in January. All this gives tone to the sale room, and prices are now 10 per cent, up for fine qualities, and 5 to 7% per cent for other descriptions. Punta Arenas wools have this last few years come to the front in a very remarkable way. and when H tid is paid for halfbreds and crossbreds from that quarter, it shows that the wool in question is of no mean order. FAPEB LUTED WOOL BALES. This week we have had before the trade three different lots of wool bales, all advertised in the catalogues as “special lined tares.” These consist of cotton linings, wool linings, and paper lined tares, the latter taking a very definite shape. Some Tasmanian clips last Tuesday had had loose paper inserted between the wool and the inside of the bale to keep the fluff from rubbing off on to the wool, but I only heard one man speak In favour of it. The best and soundest principle of solving the vegetable fibre difficulty Is by adopting the corrugated paper lined tare In which the paper has been fastened on to the bagging itself; In other words, the same way as what we saw last series In part of the South Australian clip Hummocks, and also several other clips. A portion of the New South Wales clip Goonoo Goonoo had been baled In paper lined tares last Tuesday, but It presented a sorry sight. The weight of the tares was s lbs, and most of the bales had burst They were simply too light, hot the Hummocks bales had carried oil right, and ethers will If the tares are made 11 to 12 lbs. To my mind this Is the tare that will solve the present dlffi-

catty of vegetable matter getting into the wool Sold by Messrs Buxton, Ronald and Co., March IS. Tokomaru: Grsy, 16 A crebd, 12% d; 60 B do, 12d; 46 do, do, ll%d; 19 E do, 10% d; 4 do, do, B%d; 48 C do, 12d; 29 do. do. 10% d: 9 D do. 9d; 8 P do, 8d; 7 do necks, 9d; 17 Ist do pcs, 7d; 14 2nd do, do, 6%d; 16 do bellies, 6%d; 8 do locks, sd; 11 Ist do lambs, 9%d; 12 2nd do, do, B%d; 4 serd A and B orshd, lid; 3 do, do, lOd; 3 do bellies, 10d. Sold by Messrs Charles Balme and Co.. March 15. EE: Grse, 23 Ist halfbred com, 14% d; 8 do do, do, 14d; IS do do, do. 12% d; 18 2nd do, do X3d; 3 do. do withdrawn; 18 Ist 91-bred do, 10% d: 69 do do. do, 12d; 17 do do, do, lOd; 23 2nd do, do, 9d; 4 do do, do, B%d; 5 do do, 8d; 29 Ist %-bd do withdrawn; 10 2nd do, do, 7%d; 8 Lincoln, 7%d; 4 R do, 6%d. hzsbeb quotations m bbasfobb Sufficient time has now elapsed to show exactly the position of things in Coleman street, and the higher quotations from that quarter have had the effect of causing all topmakers to advance their quotations a full %d. Even then prices in London are ahead of those current in Worstedopolls, and he would be a geunius who could buy the raw material there and convert same Into a good super 60's top at 24)4d. There has not been a great deal of business doing at these higher quotations, and it will be much if users buy on any larger scale just yet Many entertain the opinion that the raw material is moving at a faster rate than the fully manufactured article, and it now remains to he seen if yarns and pieces can be got up to the level of the raw material. Consumption is well maintained, and that is the sheet anchor of the present situation. There is on all hands as strong a demand for the delivery of tops as ever, and this is the most satisfactory feature of the entire trade. AH topmakers are exceedingly firm and demanding more money, and they are as confident as ever over the future. The same feeling obtains in regard to crossbreds, and here good 40's are being quoted at 12% dto 12% d. With the big buy on the part of spinners and export houses three weeks ago there is not now a big quantity of fresh orders on the market, but all the same the feeling is one of strong confidence that they will make what they are asking before long. There continues to be some good shipments made to the Continent of carded descriptions, and prices here have also been advanced. The position of tilings in London has influenced sensibly the situation in ail its branches, but naturally the upward trend of values is not relished by users. Mohair is still moving In a very retail way, and a firm offer for any weight would find merchants willing to accept a trifle less than current quotations for average qualities which are mostly nominal. The situation generally is a healthy one, and consumption is expanding.