THE WOOL SALES.

Nelson Evening Mail, Volume III, Issue 295, 14 December 1868, Page 2

THE WOOL SALES.

The October Circular of the New Zea* land Loan and Mercantile Company* Limited, states that the August-Septem-ber Series of Golonial Wool Sales terminated on the 27th Sep., 208,223 bales only having been catalogued out of a total quantity arrived of 226,127 bales, out of which New Zealand figur.ed for 50,960, thus leaving about 17,904 bales fbr future disposal iv addition to withdrawals of about 23,600 bales, of which* however it is estimated that 17,600. bales only remain unsold. The actual stock of wool therefore, .including new arrivals to date, which; are returned as 41,605 bales, shows a rough total of 77,000 bales,' which it is anticipated will be further increased for the November Sales by about 20,000 to 25,000 bales, giving a total of rather over 100,000 bales against 107,404 bales for the same series of 1867. A slight increase of spirit and tone was noticed during the three closing days — due more to a sense or relief experienced by buyers at the termination of one of the longest and most irksome periods of sale on record, .than to any more tangible reason. The Circular goes on to say that a general review of the situation of the Woolen, trade, and .the circumstances affecting its- condition, at the;. close of a series which will long be remembered as having marked one of the {most disastrous fluctuations ever witnessed, is* the more unsatisfactory that . it re veals * the influence of no special cause, affecting consumption to which such exceptional .depression may 'x be assigned. . For .very many years it has been urged that the enormously increasing .proportions of the colonial export of wool - would 'sooner or later reach a point at which a serious depreciation; in 'Value would follow . as a necessity cbnkequ6n<?e, but .^though at particular peribcls fr Tediic- '. x't.A :.'. _-_::__ :'~-A-Xj:i.i.r.l*. »«>i«AoKla t.t\ -th*

effects pf war, had harvests, haa been ag* gravated by the progressively augmenting supply, the expansion of the trade has till now on the average proved equal to the increasing production. . The Circular concludes -by calling at-" teutioh to the relatively satisfactory irates "which really first-class wools have commanded during the la*e sales, and urges ' this, as an indication of tbe true policy to be adopted under the altered conditions of supply ''-and demand, wamely, the introduction of better blood to their flocks, and * more careful aod skilful regard to the various elements of good management.