LONDON WOOL REPORT.

Southland Times, Issue 1683, 31 December 1872, Page 2

LONDON WOOL REPORT.

The Hew Zealand Loan and Mercantile Agency Company report under date 17th October : — The fourA serial of ialei of Colonial Wools, which commenced on 12th ultimo, wai brought Jfco ft termination on 'Bth instant. The quantities which arrived in time for disposal during that period were — as announced in our Circular No. 63 — 96.584 bales. Of these it is computed that about 8000 bales were forwarded direct to the manufacturing districts or to the Continent, tearing 88,584 bales of new Wools to be brought forward. As the aggregate quantities catalogued represented 122,460 bales, it follows that nearly 34,000 bales of second-hand and held OTer Wools were brought to the hammer. The following figures represent the various proportions thus catalogued : — New South Wales & Queensland... 29,822 Bales Victoria 24,232 „ South Anstralia 9.0*8 „ Tasmania * 955 » New Zealand 36,207 „ Western Australia 5 34 » Cape of Good.Hope 20,662 „ Total ... ... 122,469 Bales

For about a wee* after the date of the deporture of last mail, the market continued gradually to harden, and forgood combingwaslied descriptions. February rates were attained. These hish prices haying attracted the attention of holders of second-hand parcels, they resolved to make trial of the.marker. The effect of this action, aseiated by a falling off in fcb» export demand, brought about a reduction in Talues, and prices for some days ruled more in favor of buyers ; but during the closing week of the sales the ground thus lost was for good scou-ed and fleece Wools in a great meaiure regained. In reviewing the position occupied by the various qu ilities during the past series, we observe that good coaab r ng secure! »n-J fleece Australian Wools exhibited an average advance on July rates of 2d per lb, clothing descriptions Id to IJd per lb, and greasy sorts £ 1 to Id per lb. Cross-bred growths in consequence of the downward tendency of home-grown Wools have been neglected and did not command the rates previously current. Capes have likewise been dull of sale, and the arrival of several parcels originally shipped direct to the United States and returned thence to this market, has further interfered with the disposal of shipments received from the Cape of Q-ood Hope. We are j glad to report that although Americans operated to a very limited extent, Continental buyers were eager competitors, and nearly fifty per cent, of i tha total sales effected was understood to be on foreign account. With respect to the quotations of New Zealand shipments, the following may be taken as representing an approximate average of the rates obtained. These compare favorably with the prices which ruled at the preceding series of the year, which are likewise subjoined s — Feb.-Mar. Ap. May. Jun.-July Sep. Oct Inferior to supe- I Tior washed fleece 2s OJd^-lb Is lOfd^-lb 2^lb 2s Of i^.b Inferior to superior ecour'd2s 2d do 2s Id do 2s Id do 23 If ido G-reasy Is 3£d do Is OJd do Is 2*d d > Is 3 i do Although the news by th.9 Australian mail, which was delivered on 30th ultimo, with respect to the coming c!ip ari favorable, owin;j to the wetness of the Colonial season, it ia understood that shearing would commence later tbum usual. Bearing these features in view with regard to the future prospects of this staple, while we see no reason during the remainder of this year to look for any departure from present level of prices, owing to the recognised paucity of supply, a maintenance of these rates during the sales of next year ought not, we think, to be counted upon. The next series has been ficei to commence on 21st proximo, and after making full allowance for Wools arrived and afloat, those held over and second-hand parcels, wa think that tho aggregate quantity to be then offered will not- exceed 60,000 bales. The arrivals to yesterday comprise the following : — New South Wales & Qaeenslan.l ... 1157 Bales Victoria ... ... ... ... 34)34 „ South Australia ..". ... ... 21 „ Tasmania ... ... : ... ... 90 „ New Zealand ... 1393 „ Cape of Grood Hopa 9305 „ Total 15,405 Bales 1