SUMMARY OF LONDON WOOL TRADE FOR 1871.

Southland Times, Issue 1551, 15 March 1872, Page 2

SUMMARY OF LONDON WOOL TRADE FOR 1871.

Under date December 28, ileaars Jacomb, Son, & Co. have favored the Sydney Mail with the following particulars of the Australian wool trade in London during the year : — The history of the I/ondon market for colonial wools for the year now closing is a more happy one than it has been our lot to record for many years past. . From the extreme depression produced by the franco- Prussian War and French Revolution, under the iniiuence of which lust year closed, the woollen industry of Europe has Recovered iri rapid but healthy progress till, with a rising market ■ throughout the year, prices for the raw material^ show now an average increase of Borne 30 to 40 per cent, on those current this time last year. To this end several elements simultaneously working have contributed iv addition to the prosperity induced by the restoration

of peace to Europe ; the French and German '• clips were both curtailed considrrably by the 1 direct influence of tho operations of the war. { The British clip was materially short of la-t year, I and, notwithstanding the heavy import duties i still imposed on wool in the United States, an j animated trade and a deficiency in their home production has given ua the benefit here of the competition of America and Canada to a krge extent, chiefly for gooi wools light in grease. i n addition lo this there has not been the heavily increased import of Buenos Ayres and River Plate wools into Europe which the experience ot former years threatened. Though the import of colonial wools for the year here only shows a slight increase (and not the material decrease which some prophesied at the beginning of the year) it must be remembered that over 50,0U0 bales of old stock were, by reason of the stagnation at the end of last, held over to be dealt with this year. , . . The increased number of sales this year from 4 to 5 series has been carried out by the Importers' Committee; as any progressive change to the benefit of wool in this market is our nearest interest, and of course the multiplication of sales to any good result ia especially to our advantage, we shall be absolved from any arnere pensee in casually remarking that, as unforeseen circumstances have resulted, had the old system of four series commencing at later dates been in operation, a greater weight of this year's wools would have, by chance, been sold under the more favorable influences of the latter part of the year than has been. The first Beries of sales for the year lasted trom tha 3rd to the 27th of February ; of 1.30,000 bales sold, 53,000 were old imports held over from | last year— about 38,000 were Victorians and South Australians, with a few New South Wales and Queensland of the new clip, the balance | being the clearing up of last season's shipments. : During the progress of these sales an armistice was concluded between the belligerents, which, though giving hope, was of course not enough to inspire any real life into trade, and the purchases of Belgian and German consumers to the extent of about one-third of the quantity sold was looked upon with agreeable surprise as rather more ! support to the market than was expected. The average result of these 3ales was about the maintenance of previous rates to Id per 1b advance thereon. The second series lasted from April 13 to May 16. 192,330 bales were then sold, the chief feature being 93,000 bales of the new clip of Victorian, with about halt the South Australian clip, New South Wales and other wools of the new growth being only in moderate supply. Peace had now been concluded, but Revolution had completed the troubles of France, and her capital was in possession of the Communists; prosperity now, however, began to dawn upon wool, the home trade was sensibly rrviving, Belgian and German manufacturers were short of stock, with a good trade beginning, and the vitality of France was manifested in considerable purchases in anticipation of the reopening of her trade, which were somewhat increased by an idea that a duty on imports of raw materials into Franca might form part of her future financial policy; American competition, doubly welcome from its long absence, guva strength to the market, and an average advance was established ot Id to lid per lb with a greater proportion of increase in value on all good greasy wools. The third series lasted from the 22nd of June to the 26th of July ; 213,500 bales were then sold ; of this quantity about two-thirds were bought for foreign account; these purchases gave great strength to the ma-ket, which increased in tone from the beginning to the end of the sales, till a maximum a\ erage advance was established of 2dto 3d per lb ; American buyers again gave great support to all good greasy wools, which in their proportionate pjreenta^e shared the fullest advance. The four h series lasted from the 14th of cs._t ,K». till fl,™ tifl-. ~t Ci,-tn^or ni-.mr>piaintr 137,900 bales, of which about 50,000 bales werd taken for export Before these sales there hal been considerable inquiry for wool by private contract, and it began to be realisei that the available supply for the remainder of the year would in do wise be too heavy for the trade doing ; prices again showed an advance, averaging about 2d per lb. Qiick successive advances in the Bank rate from 2 to 5 per cent, during the progress of the sales, and an extensive strike in the Yorkshire woollen districts towards ths* close, produced signs of weakness and giving way in the latter salf-8. Greasy wools were not so eagerly taken as in the two preceding series, and on.y showed a slight advance. The fifth and last series lasted from 23rd November to the 7th December. 73,200 bales were sold, including some 8000 bales of old stock in first and second hands ; about a quarter of this quantity was taken for the Continent, from whence we do not generally look for very great support at this season. A brisk competition maintained throughout, at prices about l>i "per lb over those of the preceding series. This concluding public sale loft our market almost entirely bare of stock, a result very different to that of this time last year, and up to the date of writing there are no transactions of importance nor any change in the appearance of the market to record. The import of New South Wales and Queensland wool has this year exceeded last by only about 5000 bales. These have mostly shown improve nent on the preceding clip in growth and condition. All seedy and faulty flocks have especially advanced in proportionate value, gradually from the beginning of the year, when they were exceptionally depressed, till their present price shows an improvement of 50 to 6J per cent, on the prices of this time last year. A.ll thick stapled parcels witK combing character have this year brought a more satisfactory range to price than clothing descriptions. Locks and pieces have maintained and even increased the high proportion of value which we noticed last year. Importers may be congratulated on the very handsome margin which prices in this market have left throughout the year on colonial invoices. The Victorian import has shown an increase to date of 6000 bales over last year; on the whole this clip does not compare favorably with that ot the former season — many of the superior flecks hive lost much of their extra fine ani c oaegrown character, and a tenderness of staple has existed in many of the good combing flocks. To this must in some measure be attributed the fact that in the middle of the year, when all other descriptions were advancing, wo were able to quote but little advance on prime Victorians. AH the better and superior lambs during the early part of the year realised extreme rates ; the demand, however, has since subsided, and sales could not have been effected latterly except at a decline of fully 2d to 3d from the highest rates ; any good greasy wools have been in eager demand under the it/ffuence of American demand in keen competition with that for the Continent, which, however, abated somewhat in the later months. The Tasmanian supply again has shown a slight, decrease, nor cau we record any improve' ment on last year's growth ; and again the highbred, hot-water washe '•, fine deep prime wools which used to fetch such long prices in former years, show a diminution iv bulk and retrogression in character. The South Australian import has been about the same as that of 1870. Of these a smaller proportion than usual has been in the grease, tiie growth of which has been better than last year, and th>< condition lighter ; they have felt the full benefit of the American demand, and have rallied from the ruinous rates rea.ised for the inferior clip of last year to a greater extent than perhaps any other description. Among the washed and scoured flocks tliere have been many t-ound, good, stout-bodied parcels, wiiich have soil with brisk competiti >n at high, rates. West Australians show a slight falling-off in quantity this year — a few deep grown parcols met with brisk competition ; m >st flicks ara perhaps a little deeper and sounder than last year, but improvement is still much wmtiag in the general get up and classification, w:uoh would be found remunerative. New Zjalauds have shown an increase of about

3000 biles over last year ; all have compared favorably with last yeaVs growth— flu wo >!s iv groaae being also lighter an 1 iv befer coalition than before. The litter have realised the largest alvance, being freely Uk>n for America,; nmnr good stout scoured combing parcels hivusjll ; with Bpirit at extreme rates, white perhaps the j least r>ropo'-tionatf» advance ima been in the besf 1 washed nVeces. Leicester* an 1 half-breJs wcra j in great demand owing to the high prices of English wool. The import from the Cape of Grool Hope has been about equal to last year, iv addition to which there have been lar^e direct shipments thence to the Continent and America ; a very small proportion of the clip has been in the grease ; there has been a greater weight than before of superior snow whites got up mo^t creditably, which have brou. 'lit very lii^h pries in the latter sales ; all have sharod to the full extent in the advance cstablishoJ. This year has not been so replete with rttirring incident, suspense, expectation, and change as its j prelecesaor; it has been for the wool-grower one j of steady uninterrupted improvement, leaving off at the highest point. The present position of tho market is that oi' bei ig aim >st entirely bare of | stock, with all its customers in full and active . employment, very healthily clearing the way for I the reception of the coming clip. Money ia very easy, an-t great prosperity rues in almost every | branch of trade. A new feature in the coming , Australasian clip appears to be lar £6 purchases in the colony for direct shipment to America We are glad to think that most of thesa purchases have been in this instance very satisfact ory to the sellei-s, but we should think that in the long run the better result would be obtained by taking advantage of American demand when brought into competition with that from every European manu acturing district in the market. The first public sales for next year are fixed to commence on the Bth of February. Mr Helmuth Schwartze reports arrivals for the next sale as follows : — • Arrivals Afloat

Sydney 824 bales, ... 13,568 bales Port Phillip ... 1609 37,751 ... New Zealand ... 946 1,829 ... Adelaide — 28,330 ... Swan Ri?er ... — ~ Van Dieman'B Land — 381 ... Cape 8310 1,807 ... Total 11,689 bales Total 83,666 bales