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Hawke's Bay Herald, Volume XX, Issue 3904, 12 May 1877, Page 2

The English wool news is of a tantalising description. It opens with a flourish of trumpets about the large attendance and spirited bidding, and ends by telling \is of a decline of ten per cent, on the prices of last series. Last series closed, it will be remembered, almost on a par with the rates of August, 187G, that is to say, after the lowest point of that year had been passed, and the market had taken its lirst turn for the better. This last fall, we fear, will bring prices down to a level with those of June, 1876, their lowest point since 18G8. The French trade is no doubt by this time completely paralysed. When war and rumors of war are afloat, the French manufacturers cease operations altogether, and shut up their mills. Their English neighbors, on the other hand, endeavor in any times, however bad, to keep enough work going to prevent their machinery from rusting. The paralysis' of the I .French trade tells more seriously on Australasian wools, than on wools of almost any other description, as they are the wools most largely used by the French manufacturers. We sometimes hear the anticipation expressed that the demand for military stores caused by the recent additions to European armaments will tend to bring about a rise in wool. If it does, however, we fear it will operate almost exclusively on the coarser sorts, such as those that are produced at the Cape, and very little on Australian or New Zealand wools. Apart from the disturbance which the trade shares witli almost all other trades at present, it is looked upon as being in a remarkably sound condition. The production has increased greatly of lafce j'ears, but not in so great a ratio as the consumption. Last year was a good year for the manufacturers. They were able to dispose of their goods at fair profits, which is more than could | be said of the four or five previous years. If the fighting were once

ovei', there might be good times iv store for wool producers yet. The cargoes of the Helen Denny and Columbus will arrive in time for the May sales. We do not know, however, that this is to be looked on as a special misfortune. It would certainly be oversanguine to anticipate that prices will improve nmch by August, when the rest of the Hawke's Bay wool will have arrived.