The Nelson Evening Mail. MONDAY, APRIL 1, 1872.

Nelson Evening Mail, Volume VII, Issue 78, 1 April 1872, Page 2

The Nelson Evening Mail. MONDAY, APRIL 1, 1872.

We publish below a circular received by the Suez mail from an eminent wool broking firm in London, which will be perused with interest, not only by sheepfarmers but by every one who has the welfare of the colony at heart, as the success or otherwise of so important and wide spread an industry as that of wool growing cannot be a matter of indifference to any of us. The circular, as will be seen, speaks in the most sanguine terms of the prices that may be looked for at the sales for some time to come, and exceedingly good grounds are given for anticipating a continued rise. The first of these is the deficiency of the supply in the United States, which, since 1870, has fallen off to the extent of 17 millions, and, since 1868, of 31 millions of pounds. In the quantity produced at home there is also an immense falling off, while allusion is made to an expected deficiency in the imports from the Australian colonies. It seems quite clear that the demand is enormously in excess of the supply, and there appears to but little prospect of the deficiency being remedied for some time to come. Under these circumstances the future of our wool-growers promises to be brighter than have been any of their past experiences, even in the most prosperous of times, while, in addition to the increased incomes they may expect to derive from the fleeces, they can look to a continuous market for their fat stock in the home country where the preserved meats of Australia and New Zealand are rapidly growing in favor among the middle classes. Coming as it did when such universal depression prevailed throughout the colony, the importance of the rise in the price of wool cannot be over estimated, and it is most cheering to learn on such good authority that the, high rates are likely to be maintained for some time to come.. The circular to which we have alluded runs as followa : — London, 24th January, 1872, For the Colonial wool sales about to commence on Bth February the arrivals to date are :— 5,898 N.S.W. and Queensland; 25,269 Victorian; 5,871 South Australian ; 1,925 New Zealand ; 16,938 Caps. Total, 55,901 bales. The cargoes afloat from Sydney, Brisbane, Victoria, and Adelaide are numerous, and with a continuance of westerly winds we may expect an addition of 40 to 50,000 bales before Bth proximo.

The market remains in a very healthy state, consumption unabated and stocks in manufacturers' and dealers' hands at a very low ebb. There has been large enquiry but Importers are unwilling to sell privately in the uncertainty of what is to be the advance on December rates. That there will be an advance is clear, even should the question of duty or no duty on raw materinl imported into France not be finally settled before the sales commence. The vote of last week adverse to the duty may or may not be reversed by the Assembly. We have before us figures estimating the clip of the United States for 1871 at 146 mil ion pounds against 163 millions in 1870, 162 in 1869, and 177 in 1868.tif these figures be correct, it is clear that the deficiency in their home growth of 17 million pounds is about equal to 60,000 bales of colonial wool; and we may assume that notwithstanding the large purchases f:r Atlantic ports in the Australian colonies, American competition will not be lacking in this market also. The figures quoted from the Bladford Observer in the Economist of 13th January show a continual decrease in our home growth, viz., from 1868 to 1871 respectively 165, 155, 149, 145 million pounds, which, coupled with the expected deficiency from Australian ports in the present year, all tend to confirm the expectation of a decidedly strong market for a long time forward, and, altogether, the prospects for growers are highly encouraging. The public sales of East India wool at Liverpool opened yesterday at an average advance of 1 Jd. to 3d, per pound on November rates, a rise in value hitherto unprecedented in so short a time. Jacojib, Son, & Co, Wool Brokers