THE WOOL TRADE.

Ashburton Guardian, Volume V, Issue 1578, 7 June 1887, Page 2

THE WOOL TRADE.

A gentleman who has been connected with commercial enterprises m the colony for twenty years furnishes the " New Zealand Herald " with some important information m regard to the prospects of the wool market for the present year. The quantity of wool imported by England is stated to have J bsen, per million of pounds, for the first quarters of the years 1885, 1886, and 1887 respectively, 174, 228, and 170; while the quantity re-exported to Continental countries and the United States during the same portion of these years was, respectively, 62, 68, and 86. These figures show a steadily advancing foreign demand, which tends correspondingly to raise the prices m the London market, and improve the prospect for succeeding imports. It will be noticed from the communication that, whereas m 1885 and 1886 less than a third of the quantity arriving during the first quarter of these two years was re-exported, the re-exported proportion of the shipments arriving during the first quarter of the present year was more than a half With this the telegraphic message of the April sales, which said that half the purchases were for export, quite corresponds. This gives good promise of high prices for the shipments of the article made at a later date. Especially is it encouraging for the pro- < ducers and shippers of New Zealand, where the clip of wool for 1886 was large as compared with that of the Australian colonies, where it was materially affected by the prevailing drought. Fcr all these colonies m Australasia, however, the state of the wool, market is thus shown to be very healthy, holding out. as it does the prospect of active competition, and of advancing rates for bales catalogued at periodic sales, as also of an increased demand for other colonial products. The London "Daily News " m its trade and finance column, m referring to the figures for the first quarter of this year, says " Less than half the imports have been left with us this year so far, and the Australian long drought having seriously reduced the imports for the period, a scramble will arise for the wool before the year is out, especially if trade maintains its current activity m thjs class of products,"