RISE IN THE PRICE OF WOOL.

New Zealand Herald, Volume XXXII, Issue 9919, 7 September 1895, Page 4

RISE IN THE PRICE OF WOOL.

Probably the very best news which could possibly reach these colonies at the present time, is that contained in one of our cable messages this morning, that the London wool market is firm, that sales had been effected at fully 20 per cent, above the prices bid at the last series, and that brokers expect a general rise of from 10 to 15 per cent, at the next sales. " It must be remembered that this intimation follows on the back of advancing prices at former sales. At the last sales, which began on July 2, an advance of from 5 to 10 per cent, was recorded, and that advance was maintained during the sales, and even improved upon. An advance of from 5 to per cent, on wool means Jd to $d per lb,", an advance of 10 per cent, is Id to lid, and an advance of 20 per cent is, of course, arise of from 2d to 3d. At last sales it was calculated that the advance meant an increased return of £250,00 C on the 390,000 bales submitted to auction. The following are the values placed on our wool export during the last eleven years : —IBB3, 10§d ; 1884, 9|d ; 1885, Bjd ; 1886, 8 3 l d ; 1887, 9d ; 1888, 9d ; 1889, 9|d ; 1890, 9fd ; 1891, 9£d ; 1892, B|d ; 1893, B£d. The total value of the clip in 1893 was £3,774.738. If an advance of 2d per pound on wool is reached and maintained, the troubles of all these colonies will be materially relieved, and the realisation of the properties of the Estates Company will be an easy afiair.