WOOL.

North Otago Times, Volume XXXVI, Issue 8748, 8 December 1896, Page 1

WOOL.

The fifth series of colonial wool auctions for the currenb year, which commenced h ere on bhe 22nd ultimo, was broughb to a olose on the 16th Instant, having accupi. ?d 21 sittings with a daily average of 13, ,348 hales, Bgainsb 13.183 bales ab this ser. les lasb year. Tbe sale of bhe lsb Insb. waa prevented by fog. Ib is esbimated that aboub 265,000 bales wera disposed of, 105.000 bales being take.a for export, inclusive of about 7000 for tthe United States of America. Competition, which ab the outseb waa almosb entirely confined to the home tradei, latterly assumed a much more I gene: cal ch^acter, and both French and 1 Gem ian operators materially assisted to give a firm tone to the markeb. Prices foe gcoasy merino, which, at the com-

mencemenb were from & to ' 7i per oenb lower than Jaly, after the firsb few days still further lost ground, and the depreciation of July values, especially for wasty faulty staple, waa quite 10 per oent. From thence, however, to the end, with increased Continental support, prices perceptibly hardened, and closed ab par to 5 per cent under previous salea' rates. Scoureds moatly bold steadily ab a reduction of 5 per cenb. Offerings of cross-bred staple were large, 108,000 bales pasaing the hammer. Of theae the only kind to fairly hold its own waa long, coarse, bright-bared staple, the supply of which was exceedingly limited. All other kinds, especially when dingy m appearance, during tbe earlier part of the aeriea were from £d to fd per lb lower than previously, bub towards the end, under good competition from Yorkshire, a large parb of thia deoline was recovered, although values never fully reverted to rates ruling m July, Scoured cross-breds were distinctly oub of favor, and sold Irregularly ab a decline of about 10 per cent. Slipes met excellent competition all through, nevertheless, priceß were aboub 5 per cenb lower. A meeting of bhe Importers' Committee was held here on the 13th instant, ' when ib was settled that the firsb series of sales nexb year should commence on tbe 19th January, and the second series on the 9 -h March, the list of arrivals being closed respectively on tho 16th January and 6th March. . Arrivals to date for the sixth series, to commence on 24th November, are as follows. New South Wales and Queensland .„. ... 21,789 bales Victoria ... ... .„ 9,379 „ South Australia 2,488 „ West Australia 951 „ Tasmania „ 218 „ New Zealand .„ .„ ... 5,745 „ South Africa ... .„ .„ 11.669 „ Total 52,239 bales