PROSPECTS FOR THIS SEASON'S CLIP.

Colonist, Volume LVI, Issue 13592, 6 October 1914, Page 6

PROSPECTS FOR THIS SEASON'S CLIP.

Messrs E. Buxton and"Co., Ltd., have supplied us with the following article, ciiirifid from "Tlu? Australasian" of | September 252 nd, dealing with the wool tnido: —"In spite of the protests of Bradford manufacturers, tho importers' committee has adhered to October 6th next for tho opening of the London sales. The limitation ■of quantities to be offered, however, has undergone some alteration. Under normal conditions the list of fresh arrivals that may 1)0 included in any series closes eight days prior to the actual opening. It is now cabled that the list for the forthcoming series has been closed as at the 18th August last, and that about 50,000 bales will'be available. As a fact, some 90 000 odd bales had already arrived at tbi-.t date, but ssinee then some, large sales of New Zealand crossbreds, amounting to nearly 20,000 bales, have been made privately. .The balance unaccounted for is doubtless largely comprised of -merinoes, or wools unsuited to immediate requirements, which consignors deem it inadvisable to offer at the present juncture. It may bo safely said that the result of the forthcoming sales is awaited with greater interest than that of - , any that have been held in London within the memory, of the present generation, and there can be no doubt that the level of values established there will have a direct bearing on those likely to be current when sales are resumed at this end. At the same time, it would be unwise to attach too much importance to 'spot' values in discussing the /,ristrn.l?a.n parity. Al'sough it is extremely unlikely that public auctions will be resumed in local markets until selling brokers have ■™£isfied themselves that a legitimate demand from manufacturers has manifested itself, it is quite certain that unless there is a strong speculative de* mand no great weight of the clip can be lifted.

"A meeting of interstate selling brokrs took place in Melbourne on Friday last, when the general position of the trade was fully discussed. No ■incision as to the actual date of the resumption of sales throughout the Commonwealth was arrived at, the matter being deferred until after the close of the forthcoming sales in London. It was also unanimously agreed that when sales did take piece they should not be held concurrently in any two markets. A roster of sales in Brisbane, Sydney," Melbourne, Geelong, and Adelaide will doubtless, be arranged later on, as will the quantities to be offered weekly in the several markets.

"The Bradford top market in meri-. noes is cabled as flat, and there is no business passing in these. Crossbreds, however, are in good demand, and prices are unchanged. "The wool arrivals for the past week in New South Wales amounted to 14,200 bales, and in Victoria to 3,400 bales, or a total of 17,600 bales. As compared with the previous week, this shows an increase of 2,200 bales. For the corresponding week of last year the total arrivals' amounted to 58,500 bales, which is thus 40,900 bales ahead of the figures for the past week."