WOOL FAIRLY STEADY.

Otago Witness, Issue 2200, 30 April 1896, Page 6

WOOL FAIRLY STEADY.

Matters here in wool," while continuing to wear a fa.ii ly cheerful aspect, are still somewhat narrow in circumference and stunted ingrowth. So far there has certainly been no shrinkage cf business, but without doubt the most conspicuous feature in the market is vacillation. There is not tbat strong, decided, and emphatic element present calculated to inspire the trade nod intoxicate men with the belief that the future requirements of the market will be such as to warrant consumers to take action at once. Bradford rather prefers to walk by tight and cot by faith. Two strong features are to-day working hard against the quick rising of Bradford values. Last week's American mails brought news to many shipping bouses that they were not prepared to receive further goods which manufacturers ougbt to have delivered last November and December; consequently these cancellations are nob relibhed, and the fact that American buyers have practically ceased operations since last November has been the means of causing looms to ceme to a standstill, ffhea tbere ia tho practical failure of out export

yarn trade to be considered, and the two combined rend«ra nm'ters no better town fcfeey ought to be. Still, there is a growing conviction on all bauds that wool will not lose ground, and ib is expeotcd that next week's opening of the Loudon wrol saltm will sdcnini&ter a good reviv* ing tonic. Tbe fact that stocks here aie ex* treme'y light and the condition of trado abroad fairly satisfactory augurs well for the futur* well-being of the article, and men here remain strongly indisposed to sail unless at very full current rates. MerLos still show the strongest; position, while crossbreds ar« firm at the late fractional drop. Dealers in the Engliah staple have Ixtely shown signs of being tired of wait* ing, and this last week some respectables weights have changed hands, but only atj a halfpenny drop. Mohair keeps on the ascendancy, and dealers are now aiking for a further advance oo lhut week. Yarn merchants are still holding aloof— only taking small quantities just for Immediate requirements, and where orders »re placed they are at less money, with the exception of mohair yarns, which are again in demand with prices tending upward, In the piece the home consumption is for the moment the best. The American trado hat fallen off considerably, and raa»y manufacturers are complaining of tha scarceness of new business.