WOOL.

Nelson Evening Mail, Volume IV, Issue 260, 4 November 1869, Page 2

WOOL.

0 The New Zealand Loan and Mercantile Agency Company report : — The course of the Wool Market since the date of our last issue, which reported the result of the first sale of the series now in progress, has since been continuously favorable, and prices which we then stated as ruling fully up to the closing rates of the MayJune sales may now be quoted in the case of washed wools at an advance of Id. to l£d.', and unwashed |d, to Id. per lb. The competition of New Zealand wool during the early portion of the series was perhaps hardly so buoyant as in some other descriptions, owing mainly to the comparatively passive attitude of the French buyers, who have, however, since operated with considerable freedom, and given this produce a full share of their attention. Good combing parcels have been keenly sought by the representatives of the Brad ford trade, though balf-breds, which during the late series it will be remembered ruled exceptionally high, have commanded little if any advance. The probability of some improvement in value had been more or less generallyanticipated from the many circumstances tending to such a result, among which we may enumerate — The excesssive cheapness of the article, favorable harvest prospects (since realised), the very moderate value of money, certain indications of revival in trade, and the likelihood of some check to the increasing rate of production. The isuddenness andextent of the advance however has exceeded general expectation, and may perhaps be regarded as fully as important as is justified by the present

aspect of the trade. Uuder these circumstances, therefore, while we are disposed to take a favorable view of the future, we do not look for more than the maintenance of existiug quotations at least for some time to come.