WOOL.

New Zealand Times, Volume XXX, Issue 4468, 15 July 1875, Page 2

WOOL.

TO THE EDITOR OF THE HEW ZEALAND TIMES. Sin,—Stocks were stated by Messrs. AVindelor and Bowes, of London, to be somewhat less in January of this year than at same period o! 1874, though imports had been about 0 per cent, greater in the latter than the former year to England. At an early period of this year it was reported that the export from the Kio Plata would bo 8 per cent, less this than last year. The Now Zealand Loan and Mercantile Agency Company’s circular of May 14 last states ;that on good authority the export will prove 80,000 colonial bales less. If this bo meant as equivalent to the 8 per cent., then the Rio Plata export of 1874 is estimated at having been 1,000,000 colonial bales, but I suspect 500,000 bales of 3501b5. each would be more reliable ; but why are wo kept in such remarkable ignorance about facts bearing so immediately on the value of our staple export. Taking the latter number of bales asjthe estimated export from the Rio Plata in 1874, instead of 8 per cent, the diminution appears at 10 per cent. The Agency Co.’s circular, of May 14, mentions the increased demand for half-bred wools, and states it is to some extent specially due to the report of a deficiency in the English clip, of l*Vper cent., and acids, “ ns to the foundation for which it is impossible to pronounce at present." The telegram of the 19th June, stating termination of the second sale, states, ** Coarse wool attracted special demand," but does not give the reason furnished in the circular of May 14, only lately received. If this report prove correct, as England’s clip last year was 200,000.000, the diminution this year amounts to about 80,000 colonial bales of 3501b5. each.

The increased export from the colonics, Cape included, appears about 30,000 bales only. The New Zealand export had not been published. Opinion states the number of bales not to exceed that of last year. But why is It that this is the only colony not furnishing this information. The Chamber of Commerce should look to this.

Apparently England and Kio Plata will yield a supply less by 160,000 bales, and the colonies 30,000 more: deficiency 130,000 colonial bales, of 3501 b. each. .The three clips taken together appear about 2,000,000 bales; the deficiency, If it prove true, will bo about 7 per cent, or nearly equal to last year's increase, reducing supply to little more than that of 1873. The February-March sales of this year had 44,000 bales more than the drat sole of last year, or more, I suspect, than will go from all the colonies out of 1874-75 clip. The May-Juno sale this year had 2000 bales loss than second sale of lost year. Information about wool appears accidental rather than designed, and of a scumbled character, as if to prevent rather than to aid comparison and attempt at anticipating the future prospects. It has for its flag 1

** no stact-tacks." What a contrast with the statistics about American 4,000,000 bales cotton, and these 2,000,000 bales of wool. Of course, nothing much can be said about prospects of colonies and Rio Plata’s next clips, but weather, lambing, and grass might be regularly reported upon. Melbourne—Messrs. Goldsbrough and Co., in circular of 19th April, state the rain which fell in February extended over a largo area. The summer was thought to be over, but hot weather set in again, which still continues, and new feed had become parched. This will operate against lambing, which it is thought will not be as large as previously expected. Sydney—Telegram, July 2nd : Very satisfactory accounts from country districts. Increase of floods unprecedenedly large. In reference to purchasing power, it may be remarked that the world’s stock of grain from last harvest may be considered large, and up to the Ist July we get no statement leading to the belief that the prospects of this year’s harvests are discouraging. At the beginning of this year we were informed that Germany had nearly accumulated the gold required to establish a currency of that metal, and Franco sufficient with which to resume specie payments. We have had no information as to the stock of bullion in the United States of North America, nor when specie payment is to be resumed. Should a demand arise for the purpose, it will be against, not the bullion of a particular country, but that of the world, and though temporarily disturbing probably to England, would not permanently affect prices to an important extent. The world’s stock of jewellery must be enormous, and if the ladies were to throw their spare bracelets into the melting pot, the effect on prices would be marked indeed. But the discovery of Troy is more likely to create a demand for the Ilium pattern. Considering the success of our great policy of public works and immigration, it is most important that no discouragement should attend the production of our staple of export, and fortunately a diminished demand or lowering of prices does not appear in the immediate future at present.—l am, &c., Samuel Rkvaks. Woodside, 14th July.