London Wool Market.

Otago Witness, Issue 1764, 12 September 1885, Page 15

London Wool Market.

The New Zealand Loan and Mercantile Agency Company (Limited) have received the following wool telegram from their London office :—" The sales progress flatly. Greasy lias declined Id to l*d perlb; clothing and combing washed have each dec'inedljdto 2d per lb ; scoured has declined 2d to 2id per lb ; fine greasy has declined £d, fine washed •,d to Id, and line scoured Id perlb. Coarse crossbred has declined -Jd, coarse washed crossbred Id, and coarse scoured crossbred Id to l^d per lb ; lambs* wool has declined £d to Id per lb. The American demand is good for long-staple merinos light in grease. Competition on French, Belgian, and German account is sluggish. There is much irregularity in the bidding. The attendance of Home buyers is good, but that of foreign limited. The total quantity catalogued to date is 70,000 bales, and the total quantity withdrawn 15,000 bales. The New Zealand Loan and Mercantile Agency Company (Limited), have received the following wool telegram from their London office, dated Ist inst. s — " The sales opened to-day at an average decline of 5 per cent, on last sale's closing rates, except good quality crossbred light in grease. The market is weak, and the Continental demand poor. The opening catalogue contained 12,000 bales. The sales comprise about 270,000 bales., of which 27,000 ' have already been sent to the manufacturing dis-^ triebs direct."

The British and New Zealand Mortgage, and Agency Company have received the following wool telegram from Messrs Helmuth, Schw-artzev and Co., dated London, sth inst. : — " Sales continue flat. No improvement in prices. Considerable quantities have been withdrawn, 'Crade on the Continent is very depressed."

The British and New Zealand Mortgage and Agency Company have received the. following wool telegram from Messrs Halmurh Schwartve and Co., dared London, Ist inst. •.—". — " The sales opened with moderate attendance of both Home and foreign buyers. Tone is dull. Merino wools aro §d told lower ; crossbreds at par to M lower than the close of last series. Total available of Colonial wool, including old stocks, is 350,000 bales."

Messrs Dalgety and Co. have received the following cablegram from their head office, dated London, September 4 :— " Wool sales continue flat ; no competition, and declining tendency. Little demand for the Continent. Good greasy merinos are Id and good scoured mer ( inos 2d (and sometimes more) belowclosing rates of last series."

Messrs Neill Bros, have received the following cablegram from James Morrison and Co. :— " The fourth series of the Colonial wool sales commenced this evening with a moderate attendance of both Home and foreign buyers. Tho total quantity available for this series amounts to about 295 000 bales of which 00.000 are from the Cape, and the baVmce(2Js.ooo bales) from the Australasian Colonies, Biddings for all descriptions were decidedly languid, andj the series has opened with a general decline of, 5 to. 7 per cent, as compared with the previous one."

The Labour Market. Mr Skene reports for tho week end\ n g oth inst. : — We are plodding through the best v/ay we can. it iB every man for himself nowadays, and the - for the last. Work is getting 'scarcer, business is depressed, awl r 'here is no sigt, of any inprovement. Although the busy season is a!most on us, and only three months to the (&kJ of the year, it is impcysible.to find out auy-a*oady work for our labourers, setting aside altogether the unsuitable class. Farmers are putting in only small grain crops, so> harvesters will scarcely be needed. Sheep shearing: wages jii-e auye to be reduced, as so many are waiting", dm. many will watt, in vain. ■Rabbiting is stripped of its glory. How long will we have to write in this, strain ? If it were not for the big railway works we would have had riots. The fow engagements making are from hand to mouth* tfor farmers, dairies, busEi mines, and stations, a\li»t reductions.