Wool.

Manawatu Herald, 27 June 1899, Page 3

Wool.

Messrs J.icomb, Son & Co. under date of 10 h May rt port : -

The third series of sale" of Colonial wool, which ennnn^nivfl h re on ihi j 2nd inst., intenu-fced ye^t rday by durkui:34 which ii !'-\.s*iiaf.fc<l ti postponement, will close on or about the 19. b.

The attendance fiom all parts, excepting America, cr»ntinue3 to be a very large one, and the tone of competition particularly keen and business like.

The statistical position of the raw material appears to have suddenly forced itself upon all consumers. with the result that the initial advance of 15 to 20 per ceut. for merino wools noted, on the opening day has ainaa extended by another 6 per cent, on the average. I\ should however be observed that this improvement is not so marked in the case of extra superior greasy description!?, as it is as regards medium to superior qualities, both scoured and in grease, the latter, in many instances, hiving from 25 to 30 per cent, over the close of last auctions' rates.

The most remarkable feature in the series co far has beeu the sympathetic improvement in the cane of cross bred wools.

The finer sorts have of course followed the lend of merino, though, not to ho great an extent ; higher pricea by 16 per cent, are paid for there; but, as regaids medium and coarse descriptions, the gloomy anticipations of a few week} ago seem to have entirely disappeared, and they have improved almost as much.

South Africans have ' not bee n largely represented, but, when offered, feel the benefit of the full advance.

Latest reports suggPvSfc that tb>deficiency of the season's cVip w\\) be much greater than tbo originally anticipated, and as this will affect merino more than cross bred wco's the supply of the former for tho next 5 months will probably bo very limited.

Buyers in (he scattered markets of the Colonies, have, Muring the last few days, reaped a rare harvest of profit by ve«ale9 in London.