COMMERCIAL.

Waikato Times, Volume XXVII, Issue 2187, 15 July 1886, Page 2

COMMERCIAL.

IVtnknto Tunn d/A'.w, Wednesday. IO\1»O\ M VKKI'.rS. London, July 12. —Consols are 101 jj. - Then' i-. no fuithiM rhanjjp in Xtnv Ziml.ukl sfcnut ('•> Thi" iu.uUetr.ito is X, svuM tin 1 bank Lite 21,.2 1 ,. -At to-day's wool s.ilo- a caC-iloofiu- of 12,N00 lult^M was submitted, tin* v.mous lots ni^otiiii? \\ ith a fu\\» ami active lioinaml. Accounts received fio'n the l>o|) <rnmiii}jr districts rotative to the prospiH'ts of tins year's crop arc of a very un fa\ oiirable character.

Mr wooi, m\ukkis. We t ikr llie following fioin («->lds broi i^h's monthly circular, dated Mel bom no, •luiu" 2Kth:-Tho third stMio-« <>( Ii union (.Jcliiiii.il Wool Salon was opened on Wednesday, the liith in*t., with an a\,ulahle tot.»l nt 3V> 000 I) ilos. The attendance of huyeis \\a-. \tny large, and competition wis e\tioinolv animated. The demand, aeeoidiug to t>ur toll »ram, c.unc from all section* of the tiado. Kntflish, French, and (Jernuui buyeis operated with fre'dom, and under these, combined influence* (Sreisv Mouiio .uh.uu'od fiom ljd to 2d, fine Ureasv Crossbred I\d, coarse <Treasy Ciossbred VI, and W.ihlu-d and Scoured 2kl to 3d vo^poctivoly. Sibscquent telegram*, givini? the a\eia^e of elip^ sold, more than couHrmod thi^ cheering intelligence, the improvement beinj,' fully 2d to 2^,d on Cireasv and 3d to 3Vd on Soured. The market continues very firm, and we look upon the advance now published as a permanent one, with a probability of a further rise as the sales progress. Our constituents will remember that we nevpr lost confidence in the stability of the wool trade, e\en when it wore its worst aspect. In our September circular— when prices were lower than they had been for a generation, and when very extreme views of the situation were entertained — we wrote : "As for the present depression being of a permanent nature, we do not think anyone thoroughly conversant with the wool market will have a second opinion;" and we proceeded to show that the late serious decline would as surely be followed by a strong upward movement, an were the heavy falls of 15.")2, ISIiS, and IS7B. Depressions in trade will come again and again, and wool, it se^ms must decline when all other raw material 1 ) fail. Nevertheless, ourflockniastois uped not fear that their produce will at any time long remain unreniunerative, provided they occupy sound sheep country, and carefully cultivate and prepare their fleecea. Since the i.-sue of our last circular we learn that the new American Tariff Bill, which put wool and woollen goods on the free list, has been abandoned by Congress for the present session, the farming interest having proved too powerful for the manufacturers. The matter, however, will be brought on again next year, as the abrogation of the duty is of \ital importance to the United States manufacturers, who, despite the assistance afforded them by the Wh duties on imported woollen fabrics, find themselves unable to compete with the foreign manufacturer, especially during periods of low prices. As America is bound to become one of the best customers for our Combing Wools, all matters connected with the repeal of the wool duties are naturally of the greatest interest to us, and we shall gladly hail the re-opening of the question.