London Wool Market.

Feilding Star, Volume XVI, Issue 20, 24 July 1894, Page 2

London Wool Market.

The London office of the Colonial Bank of New Zealand report under date London, Bth June, 1894, as follows : — The third series of Colonial wool sales for this year which opened on the Ist May was brought to a close on the Ist instant. The available total was 388,000 bales out of which 295,600 bales were catalogued (including 81,538 bale* New Zealand) of which total 275,000 bales were disposed of, about 140,000 bales being taken for export including 5000 bales for the United States. The quantity held over to next series is about 116,000 bales, including 96,000 not catalogued or offered, and 20,000 bought in. The attendance throughout the series was fairly good and competition ! though up to a certain point active, was never general, and the support of the market depended largely upon the Home trade. American buying was as above shown, on a very limited scale. Prices close for good medium grease merinos fully up to last auctions, but the lower grades of such 5 to 10 per cent decline, superfine qualities show little improvement, scoured merinos 5 per cent decline, better class merino lambs, show a slight decline. Crossbreds of the coarser grades have held their own well, but the finer descriptions have receded somewhat. At a meeting of the Wool Association held on the 22nd ultimo it was decided to open the 2nd series on the 3rd July, the list to be closed when 250,000 bales fresh shall have arrived, and as that limit was reached on the 30th ultimo, the list closed that day, two days before the 3rd) series of sales ended, an unparallelled event we be* lieve. The total for the fourth series will thus be about *366,000 bales. The fifth series will open on the 18th September without limit, and the sixth and concluding series on the 22nd November. The list of arrivals to be closed at 4 p.m. on the 17th of that month. No further failures have been announced from Bradford and a rather better feeling as to credit obtains in the trade, still brokers take generally a gloomy view of the outlook. *About 73,000 of this total has been forwarded direct to the Continent, Yorkshire, &c. The now fixed avail, able net total for the 4th series is 307,300 bales.