THE WOOL TRADE.

Ashburton Guardian, Volume V, Issue 1495, 1 March 1887, Page 3

THE WOOL TRADE.

Several circulars compiled and issue* at the close of the year by variou authorities on the wool trade at Homi are by the Australasian One of the most striking facts m con nection with the trade is the enormoui and steady increase m the consumption of wool. The statistics to the end o December are not quite complete, bui the total imports for 1886 are estimated at no less than six hundred millions 0! pounds, by far the largest quantity evei imported into the Old Country. The growth of the wool trade m England has been something marvellous. In 1840 only fifty million pounds were imported, m 1853 the quantity had grown to one hundred millions, m iB6O to one hundred and fifty millions, and m 1864 to two hundred millions. It was not till 1870 that the importation reached 300 millions of pounds, and this increased to 400 millions m 1877, and 500 millions m 1882. In 1885 the quantity imported was 522,000,000 pounds. Of late years the imports have increased by about 25,000,000 annually. Of the six hundred million pounds imported during 1886 it is estimated that half was re-exported, the remaining half being kept for Home consumption, the largest quantity ever retained by the Home trade. The Bradford Observer, a journal which is an authority on the trade thus relates the circumstances attendant upon the rise m prices m June and September, last : — " While the causes of (he depression of trade were being enquired into by the Royal Commission, and while others were gravely arguing whether appreciation of gold or the synonymous depression of other commodities through overproduction, had done all the mischief, trade was imperceptibly recovering. The power of consumption was reviving. In the case of articles made from wool it was pointed out last year that the demand, for various reasons, was already then steadily increasing. When we notice how rapidly, for instance, the goods made on Dr Jager's system are finding favor m this country, we may even say that one more peaceable revolution has been effected for the benefit of humanity. The great fact we have to deal with is that this consumption goes on undisturbed, and that the tendency m the supply to outrun the demand is no longer such a prevailing feature as it has been during the last decade. We think this can be fairly admitted, after carefully balancing the pessimistic view against the optimistic. All classes of merino wools manifested a stronglydrooping tendency daring the first four months of the year, and m April and May prices were touched which were lower than had been known for a long period. At this time it had become known that the exports from the River Plate districts would probably show a^ falling off of some 20,000 bales, a fact which was of much more importance to the French than to us. At this time, also, French manufacturers were taking large orders for their dress goods made from merino wool, and although these orders were probably taken at very low prices, it was obvious that a large quantity of wool would be required to keep the factories of Roubaix and Tourcoing employed. The extreme lowness of prices, the knowledge that there would be a large demand, and the fear of a short supply had their natural consequence?. Steady consumptive buying began on the Contiuent, and was immediately followed by speculation of the liveliest kind. French buyers were the first m the field, and took everything they could find m the shape of merino wools and tops. All the leading pulling places on the Continent were cleared of skin wools, and purchases of tops were made m Bradford for French account to a very large extent. The operations were so extensive that tops may be said to have risen m price 2d per pound m the course of a few days. As a rule, people m the wool and top trade m Bradford refused for some considerable time to believe m the stability of the advance. But m spite of this, prices continued to rise steadily. The June sales m London went off with great spirit. In the interval between them and the September sales, a very large business was done at continually hardening prices. The climax was reached m the September sales, which were very strong for the first two weeks, and marked an advance on the April rates at from 60 to 70 per cent. The depression m the spring of the ysar was most marked. There were many forebodings as to the future of the fine wool trade, and many speculations as to how the trade would have to deal with the enormous and ever-growing production of our. colonies. It was even said m some quarters entitled to respect that wool would become "as cheap as cotton," and would to some extent oust that article from the field. In the autumn all these prognostications were forgotten except to be laughed at. At 50 to 60 per cent, above spring prices buyers were as keen ps if the supply had been suddenly cut off; and, to judge by their operations, it might have appeared as if a complete revolution had occurred m the conditions which usually act upon trade. Now, a period of undue depression has once again succeeded tc a period of undue inflation. We have passed through the period of exuberance, and are now going through the uncongenial ordeal of getting sober Even m September prices showed signs of flagging, and, with the exception of the stand made upon the small quantity offered at Antwerp! have continued to droop until the present time. The concluding series ol the London sales have been as fiat a: the two preceding ones were lively, and it is stating the case moderately tc say that more than half the advance obtained during the six months of the ' boom' has already been lost. Hollowav'b Tills and Ointment.— Rheu raatisia and Gout. — Those purifying am soothing remcdios deßervo the earnest atton tion of all persons liablo to gout, Boiatioa, 0 other painful affeotiona of the musoloß, nerves or joints, The Ointment should be appliei after the affected parts have been patiently fomented vriih warm water, when tho oint ment should be diligently rubbed upon the ad jaoeot skin, unless the friction causes pain Holloyay's fills should be simultaneoust; taken fy dratinish pain, reduco inflammation and pttiify ; .tfce blood. This treatment abate ths violence, and lessens tho frequency 0 gout, rheumatism, and all spasmodic disease whioh spring from hereditary predisposition or from any accidental weakness of oonstitu tion. The Ointment obeoks the local maladj wbito tba FU}O rcatpro vital power,