FINANCE AND COMMERCE.

Dominion, Volume 1, Issue 145, 13 March 1908, Page 10

FINANCE AND COMMERCE.

'VTHE:.SHAKE M.ViIKET.'-, ;; ; . , ■ ..:; ' ■- Yesterday' business was; done Tin'; Wellington/ ' ■ Investment, at lis. Oil., and Loan and Mercaii- ■' i tile .at 5s. r 2d; and, ss. '3d., but ■ otherwise:.j.he '•%»!>> market ivas shares', .were, s uiet > <•!£' ;'•*'/with sellers of.' National'- Banl;, shares'.at >£5. 7s. 6d. I Insurance shares T>*ere quiet, as -usual, .ivi with! sellers of National Insurance at 28s. •v Financial shares were fairly active.. \Eor_YVel■*,<v ; : lington Trust arid Loan <£7.'Ss.-Gd.' ' and yE7 - 10s." wanted; and for Loan and Mercan- ; - tile ss. was bid,'and' ss. 2d. asked.". There wer-:,, v steady- buyers of New Zealand: and. River Plato ' shares, while for-Wellington Investment shares . ; sellers quoted -lis. f)d. Gas.' shares/are very. ' quiet, arid are likely ,to remain so. - Wellington ;• - '!•: Gas -e£lo-paid;-were- on 6aleat. ii 19.,155.. !>/Meat "shares .were quiefe and unchanged.'/; lhere - were sellers of Export shares -,at .£6 12s. 6d., i 5 -25., tfor;sd respective 'issues. Buyers have 'advanced) their :. tids for Mahawatu' Rails: to .455.- 6d./-and 'for :"New>Zealand Shipping sellers quotcd_J!G lis. •'• /' Other quotations wore: ' Wellington''Woollen, lrayers .£3 35., sellers. .£3 ,6s. r Wcstport-Stock- ' • ton Coal, sellers 10s.; Leyland-O'XJrien Tiniboi, " V buyers 435. - 6d.; New Zealand- Paper Mills,' .'sellers :23s.^9d.;i'Sharlarid's,:Ordinary, r se%rs V"-V.':. 19a. ; and Whiteombe and; Tombs,' M Bs.' THE MJNING M iRKET ' . No :j business '<■ wis * done in. mining shares ■ i t yesterday, l arid there .was no. variation in-_the quotations. ' W"aihis'-'aud .Talismans -were botli* Hi, demand. The buying and selling quote-' ' ..tions were as under:— : : '.v.. ~ • Buvers. Sellers.,,,',. .£ s d £s d Talisman 212 9 2 3 Waihi . . 9 3 0 9 a,O • - Tairua Broken Hills • 0 .3,10 0 1 1 Ne-v Una .» .. 00 4J —' ; •/•. v. -! Ngatiawar ......... - THE MONEY MARKET. *, • /' : '. V ' At all ; the; European financial. centres- the '-'■I. discount rates have been reduced, to conform ' to- tho Bank of England, rate. .jNearly all.the ;. State-ibanks hold: larger^gold' reserves,, and, according to mail advices, ther-amount/of' bul- • : lion'in 'the principal: European/banks -in: the. '■' -. '■ : first we'ek: of: February compared, with thiit v fijr' the' corresponding date .of - 1907...was .as ■-.under:—' ■. .' , n ' Feb:'6;:i9oß. "Feb. 7, 1907.. , 'V'-'.'.v ; 'i'.""; England -..i 37,557,590""'' 35,474,1-10"" ' '..*■ France *.* '■ "• 103,844,290 ■ 105,865,550 .- ' - Germany- ... 31,319,000 30,528,000 : Russia 115,860,000 ;; • 118,051,000 ~ , ' ' Aus.-Hungary,■' .'46,259,000.. ;.46,395,000,-.'■ ■ Spain . r.;. -:.15,687,000 15,413,000: i : ' Italy 36,501,000 - -32,242,0f0 ■ ' ■ Netherlands,'... . 7,078,000 '.5,541,100 . t Belgium , ... 3,771,330,;,, .'.'3,285,330 . . :. ; - : - Sweden / ■- ; '' ...- 3,9d7,0U0 . .'.4,055,000. l„ :. ■ Switzerland '^.'..' 1 ' 3,24*2,000 .1,600,000-- .' : : ' Norway , ' ... 1,542,000 ~ '1,593,000'-' ' j- . ' l ~ ' /. i4W,043,120 -'. ' The increase shown is \ cry satisfactory,, and although it possesses.'-the .largest stock'of-;gold> - , the financial credit from Russia, is far froiri " good. ' France holds a large stock of .gold also, v, V and in both/places 'the note issue" is ' excep.i , tionally large. . , . " ■ ,v. ■; . . , Money is:admittedly dearer in; Now, and some are inclined. to: think the', stringency , - will increase. . .Retailers are /feeling the .scarcity, of v - caslir"ahd v debt collectors are 'busy iwithout -being v vial»W.TE9slßf^r.;j|St||f?^3r,?re-, ;Vv. v ; v .' Bults. " The same viconditioiis 'appear : »;t<j <> oxi?t ' : ' in Australia, for"' the Sydney -".Daily - Telegraph," to hand by the last mail, says:—"lt is straiige, that with money.;, growing rapidly v cheaper "in' London, •it' l ! really showing '. signs of 'hardening 'hero, wllile. all , the.>time that money was, so. tight on the '- other,, side of .the. world,. it, was easy here. ":.;/ -There - are for!'the.,, tendency t to, harden now - . Oivners-.arid 'others 'iire :cai't-yirig much .. ,moro wool, farmers • more wheat, and so on, • : and a good : deal of money, recently; held in I.ondon .oil Australian ~-iccauut.,ha.s._bceu v paic! -'-' away ' foi -: . ; reuemption of- loans. ;. Then the Governments are perisistent borrowers at 31, ; and some are . willing to give ..- \.-more,'. ! Any how the .'banks find. it-, more ' troublesome,, to' augment':-thMr}' at' 3 ; '. and ,3t iper, jxtA":; v- '' ' '' " ' '-1.-' THE TALLOW, MARKER. .'. -. Ever-Since;-the-;middle ;of .last -month-.tallow- : of. -all',description's,lhtis ! becii' declining, "a'nd' .the quotations'this Week shqw;that fine,beef ,is. 9d. )oweiv,('The ■quotations-.-for'-'seven/weeks compare ''as under:— ' .'■ - - Mutton. Beef. . ; 1903. ' . Fine. Medium. Fine. Medium. , Percwt. Percv/t: Percwt. Percwti' > -s.d. ■s. d. : S. , S, (1. Jan. 29 ... 33 6: -C-31 0 ' 32 G 30 G Feb a 33 G 11 0 32 G' 30 0 Feb- 12 ... 33 6 "310 '32 6 ' 30'0 , Feb. 18; ... 33 9 31 0 31 9 19 G Feb. 26 . ... 33 9 30 0 31 6 . 29 0' March 4 ... 33 0 29 0 ' 31.0 - 28 0. * March 11 ... 33 0 .29 G 30 3 -23 0 r- 1 A year; ago fine mutton tallow was .making' j 395. .3(1.; and fine beef 375. 6d. per cwt. The •>. ; 'r-.-j';.;'imp6i;ts of/tallow and stearine into the United :.. .- Kingdoni/sliojv expansion in recent years. The ~ :• imports .in ; 1907; conipace.d with -..those ,;ot .' the. . /.v preceding! two years!; wefe i=;Vv"--'/"V - ~ Country: ■ : 1907.' 1900. 1905. .-■■■: ; ■ Cwt. . ' Cwt. Cwt. " Froni France'' .j." 47,20 i) 59,550 33,266 !"A ' , United-States ... 483,611 ... 458.707, ; 363,711 ;. . , .Argent;Rephb. ...V 321,179227,432 ~- 360,803 • Australia ...v 627,704 , 690,891 . 530,567 , New Zealand ..-. -412,956 '. .20-1,643. ' ,3.19,895 ' ... Other countries... 207,412 :-"141,G13: 154;572 -:Totdls' ...2,100,152 1,933,836 1,822,819 ' TURPENTINE- AND RESIN.Recent/advices'Jrom., Amerisa are 1 to- the • effect that there has been a rise in the'quota- :- tions foi'i-tliese two products, "which lends .-an • ' i additional vinterest to the annual review- of :'i these products for the year 1907, compiled by 11 Messrs. James Watt and Sons, the well-known ;i:: London brokers. , This authority - states • that ; ' \ : ' the feature of the'year was the;fight between Jacksonville and Savannah fyr, the control of ■' v American turpentine. The Jacksonville,oporators thought that tlie r loss-'caused -by hurricanes, forest fires, and an inclement spring would reduce the 1907-1908 crop by at lenst 7 I per cent., and they calculated they could maintain prices at a, high level by buying thousands of haj'vels in llav and Juna

, WEUUINCTOH 6HAHE 11 ST.

and withholding til cm from 'the market. "Whether; the, .decrease; in •; supply 1 Was as. 'great "as' estimated it . is not possible yet' to .say;vbut- .general commercial;..cohditions 'did not. favour it./icorner of thekind; attempted,' .and the 'financial! crisis in the autumn brought 'turpentine quotations down/ like\tlioso of. inosty 'other"'products, in spite, of.'artificial' support., At Savanaah lbw .grade resins tumbled 40 per cent, iii- three weeks, and later- Jme.irosins' lost ibout'l6 per* cent. The average;, price of tur-. 'pentine in London last yea'r-was 435. 3d., as aga'ihst'-'^sl-3d; in. 1906, and'the. average quotation of; strained; resin :ivas" about 15s. sd. per cwfc.'as 'comparedwith about ! 10s.', in 1906. Total imports of turpentine into, the United Kingdom..amounted.,to ; 25,500; tons, of which about' 77 per-cent; comes from the' States and .19 per cent...i;from : ..Russia; Imports, of resin 'were-82,500 tons,'of iwliich'Bo- per. cent, comes from 'America" arid "li per cent; from/France. ■ WAIRAU VALLEY ..GOLD : MINING . -.Owing .to - the/' phenomenally 'dry /-season the abqye.Compariy.jhas been,c(uite unable to crush(any'.quartz' at ats ; battery ;f6r"'_'the'' past three months, and has how a large.qufiiitity of stone ready: in : the. hopper and drives?-"The. mine manager -reports; under date March 10" Had aVlittle.^rain-'here last week, and run five heads, 72 hours. ;i! Still crushing,.but the water is wry short 'again.- '"Will; have'-the tram in working t "order on ..Thursday' next." . . STOCK EXCHANGE. -' (ny TELEonArn —rw:ss association.) - i »,■<•»,it ic -f'DujI*Epiij,1 *Epiij, March. 12. Stock'-Exchange'-sales:', Chicago, 7s. ,6d.; Molyneux Kohiiioor, . 2s. Gd. v "i- :- . WELLINGTON PRODUCE MARKETS. • -Messrs.-Laery and Co;. Ltd., Wellington/report wholesale prices ruling on the market:— Wheat, fowls' ss. 2d. to ss'. 4d.; oats, 2s. lOd., -to-3s;t seed" oats.i 3s. 2d, to 3s. 6d. ; maize, 4s. 10d., to 55.; crushed malt, Bs.; prussian blue .peas Gs. to Gsv.Gd.; fowl/peas 4s. Gd. to 4s. 9d., • all at Iperi bushel"; flour;-, New; Zealand ,£l2, Aus'tialian £12; lSran, ",£G to'JB6 55.; pearl barley, <£18;-split r .peas,-... J!18; bonedust, Mi super'phosphates,'";.£4 :£a 55.; chaff (oaten sheaf), £5 to £5 10s. j .oatmeal, ,£l3" 10s.; newpotatoes, whites'Bs. to'9s.'6d., reds 6s. to 7s. pwt,";' bacon," factory; sides-BJd., hams 9d., rolls 'jljd.; -'b'utfer, bulk. lid. to-;.ls. Id.; poultry, hens 25... Gd. to'.'3s.;'-ducks]-:'ss. Gd.; turkeys; gobblers 15s. to" 225., hens , fls., to 96., till at pe_r '/pair; cauliflowers, 45.. to' Bs.. Gd.; 'cabbages, '4s. ; to Bs., all at: per-sack; peas "(green), 9(1. to is.,',.per ,peck;';.fresh : .eggß,. is. 4d. per dozen; ■cheese, Gd.--to '6ld;i per_ lb.; onions. £7 to £1 10s. per,lton;. Akaroa .cocksfoot, " 7}' d..' to BJd.; ,ryegrass,;4s. ,to{is^penbushel,'. - - SHEEP r MR '. Messrs.., Dalgety • and' Company's report of the Wau'ganiii'.'sheep, fair follows :-r7000,. sheep were yarded,' and thjer'e' was a small entry '-.of-'/cattle; < There was brisk competition under' thechSriimer.'v and prices; according to quality,'-showed 1 a decided rise. I .* Ifoung cattle alsq [showed an.\adyarice. . Quotations: Good two-tooth Romney' Lincoln ewes, 16s. 5d.; small. , two-tooth iTEpmney , ew.eS,. 13s. 9d.; • sixtooth to f.m. ewes, 9s. Gd. to 10s.; f.m. ewes,Bs. 2d.; fat ewes, 10s. 6(1. ' to lis. 6d.; fat lambs, lis. 4d.; medium two and four-tooth wethers, 12s. Bd.';' .light two'and four-tooth wethers, ;10s.. j.'-cull;' Jl.-imbs, ,ss.', .2d;.;' -Lincoln"; rims, 3g; ;-y*carlirig" steers, 315.; good, mixed weaners, 295. 6d. ; old cows, • 14s. ' LIVE; STOCK MARKETS. ■ Messrs.-Dalgety and Co., Ltd.,/report as follows "ori : their fortniphyy stock sale at the Upper Hutt, held yesterdayWe ; had a good of. stock; in rail ' classes," and; a good "demand" 'for" sheep "'and/.forward' dairy - stock; Prices throughout showed an improvement on last sale'. Rates for forward wethers reached 12s. 4d.,; ; , sound breeding ewes went at from .'Ssi'illd. "to 105.;.-.Romney ram's, • 14' guineas; good springing heifers, Mlss. to ,£6; 15 young cows coming to profit, £1; light beef cows, £2 Gs.; heifers in calf, .£3 12s. Gd.; yearling ./heifers,',;3os.;;'bulls,*,2os.. to 335.;,-store cows, . 20s. to 455.;; slip 10s.. .- Messrs.- Dalgety arid Co., Ltd., report as follows on their Palmerston sale, held yesterday :—Wo '-/hiul' >•••• large,, yardiug-.. of ■ sheep, ■ -chiefly cwos;s but : the.demand was. slack; T\votooth ewes, small, made lis.; . fat ewes, 12s. 6d.; forward lambs, 9s, 2d.; cull lambs, 3s. 6d.; wether ' lambs, Gs. 4d.; two and fourtooth i'\ wethers, 10s. 7d.; two-tooth wethers, . small,; 75.--- : ! '' ASSOCIATION.) Sy.-.-i;- • >),i "jChmstchuroii, Malrch 11. . SThere was .a'Ne'ryjiargS entry-, of; all classes lof'-sheep, and', fair yardiugs of:other classes of stock at the Addington "yards to-day. Store ' in,;such keen demand as last : «week;.. fat": laiiibs.»."ivefe without' change, and ' :fat .caUle.\'wer§'>athcr.;flrnior o\ving to a small .. -yarding, iilhcre was a rise in fat ewes. Pigs were in" good ddmarid, and cattle met with a fair>sale. There was a very hcavy ( yarding of store sheep", the larger proportion being owes. There was not so muclu briskness in ■ "tfio bidding -as; the previous week,- .the.; .hot,dr.yiifg;.wind "prevailing not' beirigV encouraging to graziers; Taking the quality of the sheep into .consideration,, however, there, was little or- no Change ■ -in'- 8 prices. . There', was nlso a very large entry of fat lambs; the'quality was not at'all. satisfactory to buyers,...only a small proportion of'the yarding'being, prime..- There was a good demand/for«all weights for export, and late rates were firmly maintained; Tegs made 15s. 3d. to 17s. Gd.; extra prime, to 18s. 4d.; ordinary weights, 12s. Gd. to 15s*.; lighter, 10s. to 12s. The varding of fat sheep barely sufficed i for the % requirements, apd there was a sharp rise in ewes;-.while prime wethers also sold better. The-range of prices was: prime wethers, 17s to'-225. 9d.; lighter, ' "13s. Gd. to 16s. Gd.;' wethers and maiden' ewes, ■125.. 9d. , to 17s. 10d,; prime ewes, lGs. to 18s. , 9d.; medium, 12s. 6d.'to 15s. -Gd.imaged and light, '9s.'.'Gd."', to 12s.- Thfi .niimbor of -fat cattle penned was 219 head, which were mostly light heifers and cows. There was an improve'd : tone iii theLmarket,. and good quality sold at : rather firmer..rates.. The range of prices was: ! steers';. £i 10s.; to\£9 155.;--heifers, 15s. to • and cows, it to £7, equal to 20s. to'23s. ■ for'pfimc,'-17s;-Gd. to" 19s. Cu. for-medium,: ami ; 14s. to 18s. for cow and inferior per 1001b. ' calves sold at 4s. Gd. to ,£3 15s. The f entry of store cattle was a small one, and the - class w;as.; abojit,.'up;. .to the average. The de- [ >-vu.t«l waa steady, and trices >»jnained abojji.

the same as last week. Fifteen to 18-months realised ,C 1 19s, to ,£2; 2-year steers, ,-2 7s. 6d. to i£2 155.; 2-year heifers, to ,£2; 3 and 4-year steers, to £5; and dry cows, 15s. to .£2 ss. A small entry of dairy cows, mostly of a good class, mot with a fairly keen demand at prices ranging from JC.I 10s. to JEB. There was a medium entry of pigs, and there was a good demand for all classes. Some large choppers were offered, and they made 50s. to 855.; heavy bacoricrs, 60s. to 755.; and lighter, 375. to 555. (equal to Sd. per lb;); porkers; 375. to 455: (equal to 5Jd. to s§d. per lb.). Stores were in strong demand at increased prices. Large stores made 20s. to 315.; smaller, 15s. to 195.; and weaners, 10s. to 14s. . • ■ RAM AND EWE FAIR. (BY IISLKGEAPn —PRESS ASSOCIATION.)' CiißiSTCiiur.CH, March 12. The annual ram and ewe fair, under tho auspices of the Canterbury A. and P. Association, was held to-day on tho show grounds. Thero was a large attendance of buyers. In spite of the unfavourable season, the majority of sheep penned were in good condition. Tho entries were substantially smaller than last year's, numbering 4629, compared with 5762 in 1907. The falling off was principally in Shropshires, of which onlv 429 were penned, against 2499 last vear. English Leicester largely predominated. The demand for all classes was weak;' and, as a result, there' were numerous withdrawals, only well-known flocks commanding much attention. The ruling prices were :-f English Leicester'rams, 1.1 to 3g., a . few odd rams bringing 4g.; Southdowns, IJ to 5Jg. , SHARES AND. DEBENTURES. at rm.EciiADi—rreES3 '.ißsociATioN-rCoriniGHl London, March 11. The latest quotations are Bank of Australasia XlO3 0,0 • Bank of' New South Wales 42 10 0 N.Z. Loan and Mercantile, prior lien debentures ... 9G 0 0 / •". . LONDON MARKETS., nsr TELEGKAfR —miisa association —copYnicnT. London, March .11. Wheat—An Australian cargo sold at 365. lid. The American visible supply is 55,581,000 bushels. ' At the tallow sales 1057 casks offered and 957 sold. -Mutton, fine 335., medium 295. 6d. Beef, fine'3os. 3d., medium 28s. , FROZEN MEAT. BY TELEGRAPH —PBESS ASSOCIATION—COPYRIGHT. i Napieu, March 12. - ' The C.C. and D. Co., London, cablcs' the following report:—Frozeir meat, market stronger. To-ddy's quotations: Canterbury mutton,\ 4Jd.; Napier, Wellington, and North Island, 3 5-Bd.: lamb, first quality, Gd., second, 5 5-Bd. Beef—Hinds, .3{d.;,.tores, 2Jd. LONDON WOOL SALES. ' ': : . : : GOOD DEMAND, AT FIRM PRICES; (FUOII 'ODB SI'ECIAT, CORRESPONDENT 0 , ' London, January 31. . This, has been a very busy and pleasant week in Coleman Street, weather conditions being a vast improvement on last week. As I made 'my second visit to the sales by the first train from Bradford early last Monday morning it was a pleasant sight to' see' new-horn lambs frisking about <iii tho sharp frosty air as we ran through several counties. near Lon : don, and to bo in the . world; in an English mid-winter may seem strange to many Colonial wool-growers. From sheep to wool is not a big jump, an'd last.Monday an excellent catalogue was put before the room. All this week the offerings have comprised, some of the' very best Australian and New Zealand wools, and as far as ono;.could v see we cannot hope to'exceed in and quantity the wools, on' offer. , Merinos are bound to get scarcer at succeeding, series,; and crossbrcds will be more strongly, in (evidence nt tho, March,' May, and' July series. 1 All through the . week the offerings submitted have received very careful attention, and everything • has been ' valued fully.' The wools from West Australia have bulked very, largely, and Bradford top-makers, who show strong favour for these, have taken them liberally. I have been really, surprised time and again to see red, wasty wool of, not more than 60's quality' selling ;from slOd.' to lid., and hardly a bale has been withdrawn. New South Wales and Queensland -lias also supplied some really first-class, lines of superfine apd many clips from the latter State are this season running as high as 80's quality. 'The :pity is that they 'are not a little longer gron-n; but that cannot be. helped. All' merinb- combing wool should, if possible, show three, inches in length, bu,t..the, bulk of the' clips are this season not more than twb to 1 two' ana a half inches, and shortness of staple is a very pronounced characteristic. • Wo' havo had'a fo.w splendid lines of super grease clips from West Victoria, and these have sold" up to -16Jd.,' 18d., and 20id. for grease lambs.' These" certainly" aro splendid prices after tho serious fall last November. Most of tho clips from New' South Wales this season show considerably more burr than usual, and consequently I hardly think that jhabby, faulty medium grease 'and scoured, .'in other, words all extracting parcels, arc making as much as they were, tho fall being Ul. to Id. on last series.. These wools cauiiot bo combed unless they tire of good longth and shafty,' and consequently tho w ; oollen trade can only absorb them. . • "•, ■'

.The demand this week for good combine merinos has been magnificent, and tho : best ■classes can now be quoted -Jd. up. I am certain that fine wools are / selling better, this week than last, there is increased animation; and buying 'is being done on a' very liberal $cale, particularly by the Home trade. Some Colonial sources can talk as thejr like, and parade the greitness of,-; the Continental ■ section ' as buyers 'of' wool,' but except for the. Yorkshire; trade and British capital, Colonial wools would to-day be.in the cellar, and wo should be seeing repeated the debacle of 1900. The Yorkshire trade , and its connections is maintaining wool values and helping' Germany out. of a. nasty hole, and the operations of the ijome trade are very extensive. Germany this week has, bought a little more liberally than last, but buyers from that quarter are in nothing like the fettle that they, ought to be. Some nice medium scoureds and grease l they have taken, and Prance has supported well bo.th Queensland and New South Wales'grease, bat-Bradford-has bought practically the whole of the South and West Australians, and the hiajor portion from the other, parts of the Commonwealth. The enquiry has been such that values all round for good desirable parcels display- a hardening - tendency. America is-also operating very-sparsely, and it has to bo something very good to tempt the. Yankee.' The fact, is, America's financial position is today clearly in evidence in Coleman Street Wool Exchange,; and unless there' is a vast' alteration .America's takings this series will be nothing like half what was purchased at the January series, 1507. • •; Regarding ■ crossbreds, wo have hero a- full inaintenanco of, values for the .finest descriptions, but reports from. Bradford are so depiessed in regard to crossbreds that these ill medium and coarse qualities fallen to the extent of.Jd. during the past three nights. Bradford is practically the only buyer of these' wools, with the exception of America taking a few lines of the'very brightest and best medium descriptions. Slipes are nothing like as plentiful as just series, and these are selling very much in : sympathy with fleece wools. I only hope that crossbreds have seen their lowest point. Consumption is largely running upon fine wool, and the supp'ort from the Continint is practically nil, this really being the weakness of .the present, situation. The sales are'progressing with good spirit, the withdrawals also being very small. '■ . .STEADY AND FIEM. : f . Coleman Street has had the effect of causing top-makers to assume somowhat tho defensive, and'on. all hands it is evident that prices are 1 firm and steady. In the case of some a farthing more is being asked, and many , top-: makers are indisposed to soli unless more money is.forthcoming.- It is realised generally that Coleman Street is'abovo Bradford in all qualities to tho extent of Jd. to Jd., and that being so, wool .people are unwilling to commit themselves to more, than they have already bought. It is still possible to pick up a good'shafty super GO's top at 26d.,' l and Gl's at 27d., • but new business- is still somewhat scarce. At the same time, it is only fair to say, that somo top-makers do not want any fresh orders, having at least three months' work ib. hand. All commission wool-combers are exceedingly busy, especially in merino de-\ partments. Stocks nowhere abound, and as last as tops are combed they are being dispatched to spinners. - Fine wools certainly wear a £ar more healthy aspect than- crossbreds, and the majority still fail to see how strong qualities are going to advance. It is really surprising the wny crossbred wool is being absorbed in London when one compares the skjck state of affairs in -JO's in Yorkshire. One great renson why coarse qualities recently declined so seriously is" because stocks arc fairly heavy, and just encountering a new clip from New Zealand the majority fail to see how to-day's prices can bo improved upon. However,. Bradford lis fairly cheerful, and consumption is proceeding apace. . The news from Germany is more satisfactory, and some decent lines of wool shipments have been made this month to -Imoricn. The ease in'the bank rate is- a decidedly favourable factor, end, given no untoward developments, things, should further improve. Mohair .is • very Cape firsts being a dead letter.

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