Wool Report.

Manawatu Herald, 21 March 1896, Page 3

Wool Report.

Mesars Charles Balrne and Co., under date of 30th January, report : — The first series of Colonial Wool Sales of the current year, which opened on the 14th inst., closes today. Of the quantity sold, approximately 105,000 bales have been taken for export, including about 21,000 bales purchased for shipment to America. In spite of the uneasiness caused at the commencement of the year by an extraordiuary succession of poli- [ tical complications, a further improvement in wool values has been experienced during the auctions which close to day, and prices of Australasian merino staple now stand no less than 30 per cent, above those current in January, 1805. This satisfactory result is due in great j measure to free purchases on American account made in anticipation of possible tariff alterations affecting both the raw material and manufactures. The attendance of buyers from all quarters was very numerous at the opening of the sales, and included an unusually large number of American representatives who operated with great spirit. The determined attitude of this section of consumers inspired the Continental and Home trades with confidence, and under the influence of general and well sustained competition the market gradually hardened, until merino wools ruled in average 7£ per cent. in excess of December quotations ; and this improvement was with a few minor fluctuations maintained to the close of the series. A prominent feature in the sale room has been the exceptionally keen enquiry for lambs' wool, which owing to the drought is, this season, in small supply and commands extreme rates. Fine haired clothing parcels, whether in scoured or greasy condU tion, have also realised very satisfactory prices. Some change is noticeable in the character of the demand for crossbred staple, the finer qualities attract ting more attention from the trade than for some time past. The coarser descriptions, which were eagerly competed for at the com mencement of the auctions, have during their progress slightly Io3t" ground, whilst the finest grades, following the course of the market for merino*, now stand 5 per cent above December currency. Scourtds hava been somewhat negleoted throughout values of all but the best classes having been irregular and disappointing. The new clip from the Northern Island of New. Zealand has come to hand in very good order, being gene rally longer in staple and much lighter in grease than the previous season's growth. On theothor hand, many of the brands from thoso districts of the South Island which suf fered from the severe winter are immature and on the whole heavier than usual. A large proportion of the South African clip this season is in very wasting condition, and for such shipments quotations were at the first few sittings slightly lower. Competition, however, quickly as» aumed a stronger tone, and" the ground lost for the inferior sorts was recovered, while light conditioned greasy produce, both combing and clothing, rulad from 5 to 7£ per cent, above previous rates. The best classes of Western Province snow whites have occasionally commanded rather better prices, but the demand has been fitful and unreliable. Snow whites and scoureds generally still feel the want of Scotch support, and although they meet with a ready sale at December parity no actual advance can be recorded. The prospects of the market, apart from politics, appear excellent. Stocks in consumers' hands are re> ported to be moderate, while man chinery continues fully employed. Supplies, moreover, will be smaller than last year, the defioit being estimated hi weil-informed quarters at 170,000 bales, to which total the merino-producing districts contri* , bate by far the larger proportion. These considerations appear to warrant at least a maintenance of the present level of values, although some temporary check to the recent expansion of the woollen and worsted export trade must be reckoned with shoul' *he proposed alterations in the tariff be passed in the United States Senate and sanctioned by the Praaident — of which at present, there stems hat little probability.