The Hastings Standard Published Daily. THURSDAY, APRIL, 30, 1896. WOOL.

Hastings Standard, Issue 4, 30 April 1896, Page 2

The Hastings Standard Published Daily.

THURSDAY, APRIL, 30, 1896. WOOL.

For the cause that lacks assistance, For the wrongs that need resistance, For the future in the distance, And the good that we can do.

The third .scries of the London wool sales opened on the 28th inst., and, according to to-day's wires, a decline in value equal to about 5 per cent, on the closing rates of last sales is recorded. The corresponding sale of last year was opened on the 30th April, and was continued until the 26th May. At this sale there was a ruinous decline in prices ; lambs' wool of middling and inferior character sold heavily at 10 to 15 per cent, decline. Cross-bred wool, amply represented, met generally a weaker market by 5 to per cent. The market was so bad that no less than 47,000 bales were not even submitted to the hammer, while the total amount carried over as unsold was 69,000 bales. The total number of bales available for the present series is 281,000 bales, as against 350,000 bales at the corresponding sales last year, or a decrease of 69,000 bales. The business troubles in Yorkshire, where several failures of textile houses took place, are mainly responsible for the apparent depressed condition of the market. The attitude of America has also to be taken into consideration, and the reports from America indicate that the Yankees had overbought early in the year in anticipation of a duty being put upon wool and a higher duty on woollen goods, while the consumption is proceeding slowly. The heavy stocks earned by American houses have not yet been sensibly reduced, and as at the second sales, so at the present sales the Yankees will not be large operators. With Yorkshire and Aluerica " sick," there is no wonder at a decline in values. On the other hand, Continental manufacturers are reported busy and considerably engaged ahead with orders, but it is possible that the Continent has secured a fair supply of the raw material, as at the last sales it was due mainly to German operations that the stability of the market was preserved. Another factor that will operate on the market is the fact that the wool supply for the present wool year will show a decrease which, so far as Australasia is concerned, will amount to about 170,077 bales. The following table shows the state of Australasian exports up to the date mentioned :

Australian Wool Exports From Ist July to Latest Dates.

With a further anticipated decrease in New Zealand exports, that is in addition to the 24,865 bales referred to in the table above, of, say, another 8,000 bales, or about 33,000 bales in all, it ie expected that the total deficiency from Australasia will on 30th .June amount to about 170,000 bales.

Although the present series of sales will see a fall in the price of wool, we are inclined to think that the improvement in general trade both in Europe and America, and the comparative lightness of the stocks held by manu-

facturers, added to the shortage of the wool-clip, will cause an impression which will manifest itself in the second half of the year. Even at the present series it is not unlikely that there will be a recovery before the close.

Colony. Date. 1895-96. 1894-95. Increase. Decrease. New South Wales Victoria South Australia Queensland Tasmania Kew Zealand March 25 March 21 March 26 March 80 March 21 Bales. 685,065$ 440.659 172,368 108,988 5,476 298,881 Bales. 715,797 466,399 166,193 136,048 12,933 323,246 Bales. 6,175 Bales. 80,734 25,740 27,060 7,457 24,865 Total... Less increase ... ... 1,660,985 1,820,616 6,175 165,856 6,175 Net Decrease ... 159,681