LONDON WOOL REPORT.

Southland Times, Issue 1118, 5 March 1869, Page 2

LONDON WOOL REPORT.

The following is the Wool Circular of the New Zealand Loan and Mercantile Agency Company (limited), for January 1869, received per Panama mail. : — Wool. — The Govern her Peries of Wool Sales, which at the date of our last issue had been only (our days in progress, concluded on (he 21st ult The attendance of buyers which we then reported as unusually numerous for the season ot the year wss well maintained to the close, and the animation and spirit which characterised tho biddings during the early portion of the Sales increased rather than diminished with their advance. The improvement which has been established has by no means been of so uniform a character as to allow of an übsolute quotation for all descriptions of Wool, for, while certain classes show an advance of as much as l^d Der lb, there are on the other hand others as regards which we can hardly quote more than a fractional variation. The special activity of the Bradford Trade caused a strong demand for all full-stapled Wools and half-breeds, a circumstance which operated most favorably for a large bulk of the New Zealand shipments which came within the range of this competition, and for such kinds an advance varying from Id to \\ and occasionally reaching 2d perlb was established. For Clothing Wools', however, of fair and medium character and condition, there was less enquiry, and though at times a somewhat larger improvement was realised the prices can hardly be said to have ruled in avei age more ttian id higher than those of the previous Sales. For the inferior growths, on the other hand, which had previously suffered the heaviest depreciation, the quotations may be stated at an improvement of Id per lb. The sudden revulsion, in so short an interval from the despondency and stagnation which marked the Aug.-Sep. Series to the confident and bouyant tone which has throughout the curr. noy of the November Sales been their most dis tinguishing characteristic, presents some curious features for study. That there has been of late a decided improvnment in the condition of the Woollen industry as in most other branches of trade is beyond all questiou, and it is probable that the change may be correctly ascribed to the effect of an abundant harvest and a cheapening Wheat Market, the influence of whi h has only comparatively recently been felt jbut whether the extent of this change lias been proportionate to the contrast witnessed within so short a period in the Wool Market may perhaps be, not without reason, open to some doubt. The conclusion is almost forced by the subsequent course of prices that the dismay and alarm which during the Aug'-Sep. Sales prevailed witb reference to the relations of the supply of Wool to the exigencies of demand were perhaps hardly fairly warranted or at all events somewhat exaggerated, and that the actual situation of the market as compared with that which existed during the eariy autumn, somewhat more than represents the diflerence in the relative conditions of the trade at the respective periods. It is satisfactory to notice that the returns of the shipments ot Woollens for the late year, show an increase in quantity as compared with ' those for the same period of the previous year, which it will be remembered were considerably short ot the same total for 1866, — and this we "may perhaps regard as the fir^t indication of ihe commencement of recovery from the depression winch has so long rul.nl in the export, ti-u-io. Iv what manner, and to what extent, this improving tendency may be ielt in the Wool Market wilt brf dependent upon its importance and relation to a large increase in the tuppiy o!' the i\tw mateaul which may again be anticipated during the approaching season. We are, on the whole, inclined to think that the increased production of wool will fully tax even some what enlarged limits of consumption, and therefore that the average during the new year is hardly likely to exceed the actual range of quotations. __ Tho arrivals of N.fw Wool for the November Oenes were as under : —

which, with about 40,000 bales withdrawn from the previous Sales, gave a total of 127 042 bales against 107,404 bales for the same series >f 1867. The quantities catalogued (which include certain fioeks withdrawn and re-offered) nnouuted to 120,533 bales, and it is estimated that the stock of old accumulations in first hands foes not now exceed^ 10,000 bales, about G 000

; bales of which consist of Cape Wool. The ' arrivals of new Wool for the March, scries amount f to 21,09] bales. i The total importations of Colonial Wool into Great Britain for the 12 months ended December 31st, 1868, w0re— 634,465 bales, against . 5-11,655 bales for 1867.

Bales. Sydney 17,415 Port Philip 8,042 Adelaide 1,222 Npw- Zealand ... ... 9,1.1'J Van Diemen's Land... ... 1,802 Cape of Good Hope (i.astera Province) 45,841 Capeol Good Hope (Western Province) 3j HO Total ••• 87,042 bales,