CURRENT TOPICS.

Lyttelton Times, Volume C, Issue 11750, 30 November 1898, Page 5

CURRENT TOPICS.

TVooU.

A great deal of very interesting and useful information relating to the past sea-

son’s wool trade and the prospects- for the future is given, ip the anmud report of Messrs Buxton, Ronald and Co, the well-known London woolbrokers, which has just been received with the explanation that it is issued in October instead of at the end of the calendar year, to meet the altered incidence of the colonial wool season. The imports'of -Australasian and South African wool from November, 1897, to September, 1898, inclusive, with 32,000 tales old stock, added, amounted to 1,409,715 bales, of which 436,000 bales were in transit, leaving 973,713 hales for sale in London, of which 946,000 bales were sold. The supply consisted of 557,700 bales merino and 416,000 hales cross-bred. Partly ( owing to unfavourable seasons, but also to the extensive increase of /eoarse-w polled sheep in Australasia, the quantity of merinoes available for Kilo in London in 1897, had diminished in two years by 226,372 halos, or as much as 22.05 per cent, whilst inclusive of South Africa the gross total had been reduced by 255,550 bales, or 22.25 per cent. The comparison for the five series of sales this year in London with the corresponding period in 1895, exhibits a gross diminution in merino catalogued of 39.42 per cent. It is remarked that at the recent rate of progression, it would seem as if New Zealand must soon ce-ase to count as a merino-producing country, and from a wool point of view it is much to be regretted that the excellent merinoes which, even seven years ago, constituted so desirable a part of the supply from, this colony should have become so diminished a total. Figures previously given are repealed, showing that the quantity of colonial cross-breds catalogued in London had increased by 483 per cent during the past twenty-six years ; also that during the past seven years the increase has amounted to 60.47 per cent. Falkland Island and Punta Arenas cross-breds have increased in ten ye;ire by 210 per cent. But, however impressive these London figures may be, they pale before the transformation in the South ‘ American production, which fifteen to twenty years ago consisted almost entirely of merino wool, hut of which over 75 per cent is now of cross-bred types, figuring out to the equivalent of rather over 900,000 colonial hales. Australian merinoes are stated to have deteriorated in quality as ■well as quantity. The breed, and in many cases the classification do not compare favourably with the high standard of merit obtained twenty years ago. Pine wool is still to be found, but of late years it has been chiefly the fineness of misfortune, arising from untoward seasons and deficient feed, and has not bora© itho stamp of purposed excellence. Even in Tasmanian wools it is seldom that a uniformly fine lot presents itself, most of the superior clips containing fleeces which are more or less tainted with, a broad strain. It is held to be proved that there is a class of goods requiring a superfine quality of wool, ,and there is every reason to conclude that, given the wool, which Australasia alone throughout the world can produce in any quantity, an outlet for- higherclass manufacture would he promoted to the advantage of both grower and consumer. The proportion of fair to fine, high-class cross-breds is also declared to continue in an ever diminishing ratio. From Australia, Victorians for the most part hold their own in respect of brightness, lightness and excellent classification, hut much of what is grown in Riverina, and most of what comes from remoter parts of New South Wales and other parts ‘of Australia is of loose, tender growth, and often infested with burrs. From New Zealand, a generally sounder wool ttan Australian cross-breds can be relied xipcin; but here, too, the tendency has all been towards a lower grade than in former years, and a really handsome, well-condi-tioned clip of half-bred quality is becoming yearly more difficult to find.

THE producer's OUTLOOK.

PBOSi’KCTS OF ' rat; teaok.

Ko doubt this general deterioration. of colonial crossbred wools, which is bound up in the almost insuperable physical difficulty of keen-

OiCcli tUiiiCUltjf U-l IVCCjJiiig a cross-bred flock of even quality, is greatly due to the frozen meat trade; but, nevertheless, the problem of how to produce high-class cross-breds, such as cannot be matched outside of Australasia, is one which may rightly occupy the attention of growers who do not want to fall into the dead level of mediocrity. A word of commendation is given in Messrs Buxton, Ronald and Co.’s report to New Zealand fellmongercd wools. As regards prices, rnerinoes have generally pursued an upward course, and, compared with December, 1897, stand about 12 to 15 per cent higher. Cross-breds have varied, according to. grade;. fine qualities,' in continuous favour, may be quoted about 10 per cent higher, medium and coarse qualities have met a weak market at 12 to 25 per cent decline. The prospects are not regarded altogether cheerfully, though certainly not hopelessly. Trade, though sadly curtailed 4a some branches, has latterly shown signs of recovery. Therefore,’ if the next three or four months could bo surmounted without a breakdown in merino prices (which the authors contend is caused each year by the mancßuvres of buyers in trie colonial markets, the same influences causing an \ advance in March) confidence should derive .. strength from (1) another moderate clip, (2) present depleted stocks, (5) trend of fashion, towards rnerinoes, and give solid grounds for hopes of a better future in 1899. The future of coarse cross-breds is less clear. This year supplies have been in excess of tho demand, and hence the material fail in values. What the solution of the present critical state of the markets may bo is not easy to foreshadow. For the time being there is little trade in coarse counts of tho staple, and stocks of both yarns and tops havti accumulated uniutermptedly througbont the year. Low cost of manufacture may procure an extended outlet, but there is no evident ■ indication of this as yet. There is no doubt that the Tfii-;’ FitozuN damage—or alleged damage meat teaDi 1 ;. —to frozen meat during the voyage Home, or, to .tats the case more accurately, be-

tween its being placed on board ship in New Zealand and its being accepted by the consignee in the London warehouse, is the greatest-evil with which the trade has to contend at present. Actual damage is a serious enough matter, and upon it there has been lately some very plain speaking, in which the Colonial Consignment and Distributing Company has been prominent. This company, in its market report of Sept. 25 last, declares that the damage on shipboard is not duo to accidents to machinery or unavoidable circumstances, but to either bad management or defects in the vessels employed in the carrying trade. The number of carcases condemned on the ship is usually a fair index to tho condition of the cargo, and as these have never been delivered from the ship, tho plea of damage in transitto the London stores is refuted. Applying this test to vessels of the three principal lines in the New Zealand trade, it is shown that about July last three vessels, one of each line, were almost simultaneously discharged ; tho reports of two were “ cargo in good order, nothing cut or condemned, ’ while the third had 65-" Carcases and 35 parts condemned. Later, another three vessels, each of a different line, landed their cargoes about the same time ; the reports stated two to be in good order, while the third had 7 carcases and 21 parts condemned. Later still, though, in similar circumstances, two vessels had a good report and the third had 45 carcases and 124 parts and pieces condemned. In addition themarket had not been free from damaged meat from these delin-quent-vessels, all of the one line, and claims, surveys and allowances had been numerous, to the ultimate detriment of- the producer. When two lines of vessels deliver their cargoes in good order, and the tliird has a quantity so damaged as to be condemned as unfit for food, it must be presumed that the darnageris the fault of the third line and not of the freezing companies.

THE CLAIMS FOR DAMAGE.

The worst, of.it is that' tat fact of there being damage at all is made use of by unscrupulous traders as a basis

for claims being made on all cargoes. On this, phase of the question Mr Thomas Mackenzie who represents both skipper and insurer) recently made a very instructive statement to an interviewer. “ The system of claiming damage is,” he said, “ extend ing very much. Men are churning now who never thought of claiming before. One of these, who is a large buyer, in response to my inquiry as to why he came in and employed a man to get as much as possible out of the insurance companies, said tlvkb he might as well bo in the swim. Other buyers obtained big concessions, and could undersell him. I have had to pay an assessment oh a quarter of the cargo; that is, the assessors had agreed that that quantity was damaged. I asked this man straight if lie had discovered a single damaged sheep out of the 25 per cent of the parcel. He replied that he didn’t see one, and didn’t know where they went to; the damage must have vanished as the sheep came out of the stores.' He admitted that it was a swindle from beginning to end ; that was said in the presence of another New Zealander.” Mr Mackenzie also stated that those .who were six months ago content with Id per stone allowance for little or no .damage, now required about Id per stone. In his latest report Mr Mackenzie declares emphatically that the “whole system of assessing damage is so shocking, and the apathy of the insurance associations so criminal, that reform appears to bo impossible of attainment. The. consequence is that men who honestly endeavour to do honest trading are seriously handicapped.” Instances are mentioned where parts of a parcel of meat have been sent to different stores in London, and while some have been reported upon as sound, others have been certified to be extensively damaged. .That such abuses should have been allowed to flourish so long appears incredible. It is to be hoped that the efforts of the Sydney Frozen Meat Trade Association, in which the representative of a leading New Zealand company is assisting, will result in effecting the drastic reform which is urgently demanded. Otherwise it will be clearly the duty of the Government to step in for the protection of the producer, who is in the end the sufferer by these frauds.