The Wool Market.

Feilding Star, Volume XVI, Issue 107, 31 October 1894, Page 2

The Wool Market.

London advices of Bth September to the New Zealand Loan and Mercantile Agency Company regarding wool prospeots are as follows ; The acoeptance by the American Congress, on 14th ultimo, of the Tariff Bill providing for free wool and a sensible reduction in the duties upon manufactured articles of woollen fabric, quickly induced a feeling of increased confidence. In ail some 80<J0 bales have changed hands by private treat; at an advance of from 5 per cent, to 10 per cent, on fourth series' closing rates, but these figures are by no means indicative of the full extent of the demand, inasmuch as holders generally are disinclined to entertain bids at ths moment, preferring rather to await the opening of the forthcoming series. In the case of textile goods, the revised tariff does not become operative until Ist January, 1895. Having regard to the recent turn of events, it is onlj reasonable to look for a sensible advance on July rates, when buyers meet fellers on 18th instant; but the extent of this will in large measure depend upon the attitude of the Continential sections of the trade. I (Times' correspondent) called to-day on Mr Paul, manager of the New Zealand Loan and Mercantile Agenoy Company at their offices Baainghall House. He appears to bo very Banguine as to the prospects of the reconstructed company, especially as the Bank of New Zealand is now in a strong position as regards capital and will no longer be cramped in its ope rations by the incubus of the Estates Company. Another source of encourage raent in Mr Paul's opinion it the prospect of an early rise in the price of Australian and New Zealand wool, the trade of the large mills, especially in Yorkshire showing, a tendency to revive He deprecates any over-sanguine expectations, but believes the revival will have a beneficial e fleet en the pastqral interests Coming from an excessively cautious, if not peasimestic gentleman like Mr Paul, this may mean a good deal.