THE WOOL SALES.

Hastings Standard, Issue 21, 20 May 1896, Page 2

THE WOOL SALES.

The third of tho scries of London wool sales, which opened on the 28th April, was brought to a close on Saturday last, and, like the corresponding sale of last year, prices have been depressed. The total number of bales catalogued was 21G,000, being 9,000 moro than was offered at the second sale, and 21,000 more than was submitted at the January sale. The results compared with the previous sales are as under :

According to the cabled report the quantity carried over is given at 75,000 bales, but that must be an error if the reported sales are correct. It will be seen from the above figures that the American trade has fallen to pieces. The fact is, the Yankees overbought at the early sale in anticipation of a duty being put upon wool, and are now slowly digesting their heavy stocks. The United States, it is believed, must levy a small duty on wool for revenue purposes, but until the Presidential elections are over there need be no fear of this. The election will have its effect on the wool market probably about the time of the fifth and sixth series of sales, when we may expect to see the Yankees operating freely. The steadiness of the Home trade is apparent in the above figures, while Continental manufacturers are apparently fully employed. The statistical features of this year's clip axe certain

to cause an improvement in the price of wool, as it is well known that there will be an appreciable shortage in the supply.

— First Series. Second Series. Third Series. Total offered Bales. 195,000 Bales. 207,000 Bales. 216,000 Sold for Home Consumption... „ „ the Continent „ „ America Carried over 68,000 84,000 21,000 22,000 79,000 108,000 2,000 18,000 94.000 106,000 1,000 15,000 195,000 207,000 216,000