London Wool Report.

Feilding Star, Volume XVIII, Issue 43, 19 August 1896, Page 2

London Wool Report.

Tbe Bank of New Zealand's London agent reports by the last 'Frisco Mail : — Wool.— The Fourth Series of Colonial wool sales commenced here on 30th June. Tbe vet quantity available, after deducting what has been forwarded direct, and adding about 75,000 bales carried over from the preceding series, was about 302,400 bales. On the opening day there was a full attendance of buyers present, and the various sections of the trade with the exception of America, were well repre sented. After the somewhat depressing reports which have been curreut for some time past as to the conditions of the trade, it was a relief to many people that values stood about where they left off at the close of tlie May sales. More confidence was felt in the course of the market for cross breds than for merino growths. The state of the trade for tbe finer classes of manufactured goods has not heen at all in a satisfactory state ot late, principally on account of tho absence of American demand. Coarse wools are being used up very freely and the supply in second hands cannot now be heavy. Prices for crossbreds of all kinds remain practically where they were at the close of the May sales. Values for the finer grades are perhaps slightly higher, but generally speaking the average is unchanged. They are meeting with a strong demand and as far as present indications point, there seems little fear of their falling away before the close of tbe series, especially as the quantity to be offered is not large. In regard to merinos the state of the market is not satisfactory. They commenced well, but during the past few days a slight falling off in the demand, and a corresponding shrinkage in values bas been observable for inferior and wasty parcels. Good clips from New South Wales and Victoria, ranging from ! B_d to 9d per lb are in good demand and sell readily. Good New Zealand merinos also command considerable attention but inferior lots sell irregularly. Scoured of all kinds sell up to May levels, so do slipes, but lambs' wool is slightly easier. The market, so far, is principally supported by the Home and French sections, but Germany, although not very active, is taking a fair quantity. Owing to the list of arrivals for these sales having been closed earlier than last year, for the reasons stated in last report, there will be a much larger sup ply of crossbred produce available for the fifth series than usual. Up ' to date 132,472 bales Australasian have arrived, of which no less than 81,262 bales are New Zealand. Unless a large quantity of Australian wool is carried over from the present sales, tbe supply of that class of wool available for disposal in September cannot be large. Tbat being so one would naturally expect that manufacturers would be more anxious to lay in a supply of merino wool now than they appear to be. As already stated, it is only superior parcels that they bid freely for. In these circumstances it is not at all unlikely that, unless prices for tbe lower grades harden up soon, the quantity unoffered will be very considerable, and besides, the holders of the 75,000 bales held over from the May sales have very little inducement to put their wool on the market now after incurring additional expenses. Cross-breds will, in all probability, be well cleared ont if the present strong demand continues.