COMMERCIAL.

Poverty Bay Standard, Volume III, Issue 268, 1 May 1875, Page 2

COMMERCIAL.

Wool.—The European MailrepoTte :—The position of the wool market just now is not easily defined. It is generally admitted on the one hand that stocks in holders’ hands are light; but against this is the dearth of orders from the colonies, so that the prophets can only speculate upon results, and suppose that this latter circumstance may tend to better the demand, and lead to slight fall in rates, especially as manufactures complain that the price of the raw material has been for some time against the profitable employment of capital. Messrs. Charles Balme and Co., write : —“ There is no new feature to report as to the condition of trade in the woollen districts. Notwithstanding the general complaints as regards the state of business, stocks of raw material do not appear to be excessive, and in France especially, the necessities of particular manufacturers have forced them to anticipate the public sales by some purchases of the new clip at full prices.” Messrs. Jacomb, Son and Co., say : — M As to the probable course of prices when the market opens next week in real earnest, it is, of course, impossible to form an opinion till we get our whole forces mustered in the sale-room. American buyers have taken about 25,030 bales of good greasy wools direct from Australia this season, and will probably take a further large quantity from New Zealand, which will of course, neutralise their competition in this market in similar proportion. Latest accounts from South America predict a large falling off in their wool exports in the coming season ; the import into Europe last year was about. 8 per cent., less than that of 1873. A sale of 17,00 bales of this produce commenced at Antwerp on February 17; prices are reported for wools of the new clip fully up to those of their last sales whilst any parcels of the old clip are neglected at lower prio».”