THE WOOL MARKET

Taranaki Daily News, Volume LI, Issue 277, 17 November 1908, Page 4

THE WOOL MARKET

rAVOIDABLE REPORTS. - The following cablegram was received .on Wednesday by the Wellington manager of the Xe.vv Zealand Loan and .Mercantile Agency Company, Ltd., from the London office of the company: "WooT— We think there will be a rise in the following descriptions of wool: Merino and crossbreds altout 5 per cent.; slipe, better descriptions 01 merino lambs, and better descriptions of merino cJothin/. about 5 to 10 per cent. The market is firm, with an upward tendency. Quotations for merino top* have advanced V»d per pound, and crossbred tops %d per lb."

Writes Saturday's Wellington Dominion:—"The first wool sale in Xcw Zealand for the current season wa* . held in Wellington, and the tone throughout was most encouraging, while the prices realised were in many instances up to the paritv of the London September sales. The attendance of buyers was excellent, and the bidding, was brisk, competition for special lots ix'ing keen. Woolbrokers are now inclined to take a more hopeful view of the situation. a ml it is generally believed that at the approaching Ixmdon sales, the opening of which being on liuwlay week, an improvement iu value-, will In* recorded. Prices are, of vourse. a lung way below the parity of the corresponding sales of last year, but the depressed feeling has disappeared, f and that U worth a lot. The excellent prices realised yesterday will no dotrit result in a very large catalogue at the next «ale. which will be held on Friday, December 4." Some interesting figures in connection : with sheep were £iven by Mr. -I. A Miu-plirrson iu hi- addre>-> at Uphir. the authority for the figure- being Mr. 0 X. (»rigg. LoiiL'beach. who i-, recognised as b.-ing probably the greatest authority on wool matter* in the Dominion (says the Dunstan Times). Mr. f'rigg has lately gone earefullv into the wool statistics 01 the "world, and is most san--1 gitiue that the coming year will *ee a marked rise in the price of the product. The principal reasons for this prediction ' are that he estimates that there are fuil.v 80.0fHI.nCM) less sheep in the wo;ld : than was the case last year, while the number of the users of woollen manu- ; faetures ha* increased by over 2,01 »o.noo.