THE LONDON WOOL SALES: SECOND SERIES.

Waikato Times, Volume X, Issue 633, 10 June 1876, Page 2

THE LONDON WOOL SALES : SECOND SERIES.

To th<» Bditor : Sir,— ln Februnry, May, and .August lust year wool fetched high prioes, but in Ko»pmber there was a fall all rouud of about 3sd ier lb. Washfd wools ranging from li 7d to Is lOitl in the first thrco sales lu<t year, are now Belling from Is 2£d to lsSd per Jb, showing a fall of 3fcd per lb from the highest prico then prevailing. This reduction lias been provided for, nnd should ihoro he no further serious fall in the June series the calculations of those interested in the tride in NVw Z-'alund will not hare been seriously falsified, Iheae facts, lwwever, point to a serious lots to tho colony, and the question is, are they of a temporary or permanent nature P I* incline to the former conclusion for the following reasons :—ln: — In KngUud trade i», and ha* been, dull, and our<nianufueturor3 became OTerstocked with manufactured goods, and romnin so ; further, consequent upon general commercial depression the public are buying cheap clothing, and in pmall' quantities; but directly animation and confidence is restored, tho demand for superior woollen goods will revive ; for an Englishman does not wear "shoddy" from pi efcrence, but necessity. J*'or home use we n quite about 800, 000 bales of ooloninl wool, and up to the prudent about 150,090 bales hare been taken, therefore if in tho Juno aale the • ToreicniT ngain bnys Ireely, present price* will bo mamtaiuoii ; should ho -on the other hand be ftbiont, another serioui fall is ineritable. It i* a nct.ceab'e feature of this year's sale* that up to the present the foreigner has been t'.e chief purchaser of colonial wools. In the firtit teries out of 107,000 he took 57,000 bales, and in tho second 130,000 out of 230,000 brvlos.; are we to conclude from this, that we are being superseded >In the manufacture of woollen fabrics ? Certainlj not ! TJie low price of wool ai accounted for above explains the matter. But while our woolgrowers have no o»uso to despair, and a* a colony we liaye no reason to anticipate that one of our wealth producing elements ie failing, yet it behoves th« gro wer to .produce ►the best po^iblo article, and to lend it to market cleaner. It cannot bo too strongly urged that tho aim of the . producer in future must bo quality rather than | quantity.— l am, Ac, Krahk Nicholls. P.S, Thers will be a great foiling off in the -supply of Australian wools next year consequent upon th» disease th»t is destrojing so many of the sheep there. — F.N. — S. Cwss, June 8.