TEE WOOL MARKET.

Evening Post, Volume LIII, Issue 2, 4 January 1897, Page 2

TEE WOOL MARKET.

THE PROBABILITIES IN AMERICA. In the report of the New Zealand Loan and Mercantile Agency Company (Limited) for the week ending 31st December, the following occurs with respect to wool : — One of the most important questions at the present time is : What effect will the late American elections have on the market for this product ? It is yet too early to hazard any definite forecast, but it would seem, from to-day's press cables/ that an agitation is on foot in America for a return to high duties. In the ordinary course of affairs, however, Congress will not meet under the new Administration till December next, though the President has power to convene an earlier meeting if he deems it necessary. In any case, the President elected in November does not assume office till March next, so that no new legislation is possible till that time, and then only with concurrence of both Houses. The assent of the Senate is also essential to the selection of the new Cabinet. All these facts tend to prevent hasty legislation, and postpone the alteration of the tariff for some months, at any rate. The quantity of wool coming forward for local sale is quite phenomenal, and the catalogue to be offered to buyers at the next .Wellington sales, fixed for 22nd prox., is certain to be a very large and representative one.