LONDON WOOL SALES.

Patea Mail, 7 August 1880, Page 3

LONDON WOOL SALES.

The New Zealand Loan and Mercantile Agency' Company’s circular of June 17 says ; A careful review of the situation brings to light the following features, which in great measure explain the fall in values. The present year opened with hopeful prospects in the woollen trade, and with but scanty stocks of raw material in the hands of manufacturers. Xn consequence of adverse winds the quantity ( 250,000 bales) originally contemplated for disposal throughout the first series was sensibly curtailed, the available arrivals reaching only some 213,000 bales, and under the influence of this shortness of supply the sales were brought to a close at a marked advance on prices current at the end of 1879. This advance was most noteworthy in the case of cross-bred wools. These being very sparsely represented in the catalogues, acquired values which the}’ could not support when subjected to the test of increased importations. The harvests both here and on the European Continent are likely to bo favourable and there exists no reason why any further decline in values should ensue. On the contrary, by a judicious distribution of supplies throughout the remainder of the year, some portion of the lost ground in ay in the absence of unforeseen contingencies, not improbably' bo recovered. As during the second series the New Zealand clip of 1879-1880, although chiefly among the late arrivals, was fairly represented, the catalogues of wools from that colony' comprised nearly one-fifth of the aggregate offerings ; it may be well to state that while some of the finer grades of cross-bred and merino greasy wools arrived in lighter condition than those of the previous year, and commanded in consequence full prices, there was also a large proportion of stained, earthy', heavy sandy' parcels, the produce not only of merino but coarse woolled sheep, which have by reason of numerous irregularities with difficulty been passed into consumption. Washed fleeces from that colony' have realised relatively better prices than greasy wools of the quality, the friction in price between the two descriptions being more marked than was the case in 1879. Scoured wools, unless those of the coarsest qualities, have also commanded attention, their general immunity from burrs and seeds being in their favor. The wool of some well-known flocks continues however, to be prejudicially affected by dipping the sheep, a tenderness of staple, especially towards the tip, being the outcome of this process.