COMMERCIAL.

Manawatu Herald, Volume III, Issue 17, 29 October 1880, Page 2

COMMERCIAL.

THE WOOL MARK . T. VVequote-tho following from the. N. Z. Loan, k Mercaptilo Agency Circular to hand per Frisco Mail, which left Lonuon Sept. 9 :— tDuring the interval between the close of the second and the opening, pf tho ourren» series, ;,a period' of upwards •of ten weeks,- but -little- business eventuated :by private treaty, buyers not baying found it neoessary to repleuish'stocks to any extent. The benefioial effects of a harvest contrasting favorably wi'h- that of the preceding year, were not folly' realised before the commencement of the sales, and although buyers assembled la considerable number s so much hesitation , was 'displayed by the foreign., and more esp'ociallv by the French, section of the trado, thet the level ot the closing rates of Jiiuo last was not reached. This unsatisfnetoay result was due in part to the cause j •ist mentioned, aqd was -. in part brought about by the seleotion of Wools in thi> ope ling catalogue not hexim sufficiently varied to meet' the wants of th 6 different classes df buyers. Although the decline quoted at the outset was from id to ld per lb it must be understood that it was most marked in the case of Capo descriptions. An^tralasi »n merino sorts, while distinctly selling* in buyers' iavor, received more attentionjthan the ooarse descriptions of cross-bred Wools. Before the termination of the first week it wa* manifest thnt the initial'deolinu in nearly ali Australasian merino combing Wools, free from fault, had been lost, and much greater uniformity iv the biddings was exhibited This favorabla position has since been strengthened, and with . a cntinuauco of good harvest wea thee ani a. irenerally improved tone throughout the various woollen manufacturing oentrfp, there seems g.>od reason for coholudicg that as the suL-s progress the ground first 1031 may ba not only recovered but that paoes may : V.ill furth -r tend in ar. upward direeti >n. In order to seoure lhis dosifablo result, however, iho steady competion of foreign buyors is requisite, as Without their aid the existing level of prices oann >t b~- maintained. Belgian and GHrman buyers h:ivn operated thr jughout with fair spirit, and French dealers are beginning to show m >va activity. Many leading house.*, however, have still ou hand '• top" of wool bought at high prices during April May, which they cannot move except at a 1 >ss. This loss tiiey are not in the moan while piepared t > face, and hence they do not; go further iuto stock so eagerly as they are sonetimes wont to do The turn of fashion has not vet set i 1 i-i favor of the more extended '•onsump; ion of coiinp Wools, and despite, the known short outturn of our domestic clip, b'i vera of nuch descriptions <la not meanwhile' extend their purchases' b yond current, wants at prices which continue to show in many instances %1 10 1..i per lb decline ou Juuo rates. Limbs Wo>>l of whatever grade, unless quite free from defect, ti Bornewh:u ditfi -nlfc of sale. Burrv, seoJy and very defective parcels of all kiads, espeoially in scmied couditiou, are no dearer than at the opening of the sale-* ; 'and. oooa-uomlly wheu offered iv quantity, are somen hat oheaper.