THE WOOL MARKET.

Wairarapa Daily Times, Volume XV, Issue 4852, 16 October 1894, Page 2

THE WOOL MARKET.

The New Zealand Loan and ; Mer. ■ cantilo Agency Company (Limited), in a report dated London,7jtSept., says:—Wool. -Tho /accefllSi'e "by the American Congress, on 14th nit,, of the Tariff Bill, providing for, free wool and a sensible reduction in the duties upon manufactured articles of woollen fabric, quickly indiiced a ' feeling of increased confidence, both at home and abroad, wkich, at first manifested in a sharp advance in the value of tops, has been succeeded.by considerable enquiry for the raw material in this market, The demand bns to a large-extent emanated fi-om America, and has embraced descriptions of wool which, owing: to Customs restrictions, have not-hitherto been purchased for that quarter, In all some 3000 bales have changed hands by private treaty at an advance of from 5 per cent. @ 10 percent, on fourth series closing rates, but these figures are by no means indicative of.the full extent of the demand, inasmuch as holders generally are disinclined to entertain bids'aMhe momeut, preferring rather to await theopening of thoforthcomingseries,' v \ In the case of textile goods, the revised tariff does not become operative until Ist January 1895, but reports from the home centres of the industry, which,- under the M'Kinley Act were the chief sufferers, are already of a more cheerful character, while advices from the Continent,though less reassuring, point in the same direction, Having regard to the recent turn of events, it is only reasonable to look for a sensiblo advance on July rates, when buyers meet sellers oh the 18th inst; but tho extent of this will in a largo measure depend iipim tho attitude of tho Continental seS^ - " tions of the trade. According to the preliminary summary recently issued by the Board of Agriculture, the totafnumberof sheep andilambs in Great Britain on 4th Juno last was 25,861,500, representing a decrease of '1,418,834 animals as compared with tho corresponding date of 1893, and 2,873,204 animals as compared with .1892. ' '; | The N.Z. Loan and Mercantile Company has received from its Lbn : don office the following cable mes; sage: Woq|—Thpsales'clpsedfairly well. Sinco the plpseof last pale's the following alterations in price have to bo recorded: Greasy mprinp super and fino greasy crossbred are |d per lb higher; fine washed, and scoured crossbred medium greasy, washed and scoped orps.sbrod are par to Id per lb higher; scoured medium and interior is lb lower; greasy medium, and i crossbred lambs nrffiner lb lowing ■ ; We " total quantity sold during the. last. , sales is 225,000 bales, of which , 96,000 bales havo beon taken for the Continent and 13,000 for America, 1 , It is estimated that 63,000 bales have been hold over for future disV . posal. Frozen Meats. -The mutton market is depressed;.'.. Canterbury and Wellington mutton being worth , respectively 3|d and 2fd per< lb. . Prime' New Zealand lamb is 1 worth . per carcaso'fhpihihal value) 51 per i lb. " " " ". ."•• :i -' i{: "

Murray, Roberts & Gp,' have received tlie fojlpwing cable message from Messrs Sanderspn, Mprrayahd Co. regarding the London wool sales •—"London, "12th October! sales havo closed dull; the market:, shows a tendency downwards, and prospects look discouraging; 62,000 bales held ovor. Compared with opening rates, prices are very irregular. For greasy, merino, extra good, market has declined a shade; greasy merino, inferior to medium, andscoured merino have declined sto 1\ per cent,; extra line Bcoured crossbred has declined 5 per cent.;' crossbred scoured, low to medium,- : has advanceda shade."