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Daily Telegraph (Napier), Issue 3855, 24 November 1883, Page 2

TnE fourth series of wool sales in London commenced on the 20th of this month, and the news to hand is to the effect that an iniprovementon the closing sales of the previous series has already been manifested. Tho demand for Australian crossbred, which declined a penny during the August sales, is now stated to be good, and it is to be hoped that this description of wool will fully recover its former values. The general tone of the market is firm, and foreign buyers aro operating largely. Our cablegrams fully bear out the more hopeful prognostications contained in tho New Zealand Loan and Mercantile Agency Company's circular of October s: —"Notwithstanding the generally unsatisfactory result of the third aerie* thero is nothing in the existing position of tho woollen industry to warrant tho belief that lower values will ensue beforo tho close of this yoar. There aro symptoms of revival apparent in the various manufacturing centres in this country, while stocks in tho hands of foreign users are believed to be now within very moderate compass. On tho other hand it must not be forgotten that amongst Continental buyers South American wools arc coming more into favor than they have hitherto been, and aro thus entering the lists in competition with the medium and inferior growths of New South Wales and Queensland. Reports of increased colonial supplies during 1884 are now being circulated, and hopes arc being held out that the clip shorn throughout Australia this year will provo superior in condition and growth to its predecessor. Intending purchasers will havo an opportunity of testing tho ' rendemont' of the now Australian clip which, it is anticipated, will bo fully represented in the next series." In tho same circular tho following commendation of the wool from this colony occurs: —" Tho comparative immunity enjoyed by New Zealand growths from participating in the general decline in values is due to the fact that merino and fine cross-bred sorts received thence have generally been better grown aud sounder than kindred Australian descriptions, while the low level at which values of coarse wools have for somo time stood has prevented the large suiiplies from New Zealand from sensibly receding in value. In consequence of the position which coarse wools have thus occupiod they havo enlisted the competition not only of homo but foreign buyers."