NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2250, 15 April 1897, Page 14

NEW ZEALAND PRODUCE IN LONDON.

LONDOK. (Faoji Our Own Cowikspondent.) London, Febiuary26. WOOL. There is a sort of interregnum in the wool market just now, it being the interval between the sales, and it is not easy to predict what will happen when the next auctions come on, but talking over ths situation with some of the authorities on the subject I found the general opinion prevalent that there was a tendency to improvement rather than the reverse. Am;ric», of course, is the chief stumbling block, and until some definite settlement shall be arrived at as regards the financial policy of the "United States, especially in the direction of tar.ffs, it is unlikely that any permanent stability of values can bs arrived st in the wool markets, where American competition is so important a factor. Vebterday I had a conversation with a Yorkshire manufacturer of high standing and long experienco, who gave a decidedly cheerinc account of the tone of business in Bradford, Dewsbury, Iluddersfield, and other northern centres of the woollen trade. He expressed strong conviction that prices would shortly improve, and that at the worst there would be no letroßression. As showing the activity of the wooden trade, he mentioned to mo tint ia the case of one of the large manufacturiug firms, in which he holds a substantial interest, the profits for the past year had been so larc-3 that aft"r paying a dividend of 7i per cent, and a bonus of 2k per cent placing a considerable amount to reserve, and carrying forward a substantial sum, the diiectors still had co much money to dispose of that they decided to recommend its application to taking up all the additional uncalled capital of the comi any, thus making the shares tully paid up. This, of course, was agreed to. All the Dewsbury manufacturers have their hands quite full, I hear, with good order?, aud on the whole the current year seems %o have begun so well for the woollen manufacturing trade that there Bhould be goad ieasDn for hoping that the prosperity may be extended to the wool producers as well. The second series of sale 3of woolled sheepskins for ths current year took place on Wednesday, when there was a satisfactory attendance of^ buyers, and competition whs on the whole animated. The prices realised did not differ materially from those obtainei at the previous sales. Full-woolled merino skins in light con-

dition, coarse cra3sbreds, and crossbred clothing maintained exacUy their former rates. Clothing and shorn merinos went lip Jd, but "wasting" merinos dropped a siimUr amount, and fine full wool crossbreds were quoted Jd lower. The next sale is fixed tor the Bth April.

NEW ZEIUND MEAT.

With regard to the frozen meat market the C C. aud I). Company wiite to me to-day as follows about New Zealand mutton: — "Trade remains in the same stognant condition and, if possible, has bei'ii slower this week even thin it has beeu, an almost total lack of demand which low prices fail to stimulate, though all Rortß of fresh-kiiled mutton, British and foreign, havo liseu considerably in value, and find a fairly ready si\c. P ircels, even of the be3t brands, are s-o v.iriel in quality as to show a ranee of fully }d per lb. A very few of the best Canterbury sheep marketed may make per Jb (quality alone often does not veculate hich valucj), but far more mak'- 2?' l, and home 2Jd per lb, so that return': are seldom much over ;id pi:r lb." For fresh, bright, goid New Z-.ulnnd lambs there i^ n tair ami inerei'Siing dcniHud, !>ufc not many in this i^inditiou have yel been pl.iccd on the market. Prices l.inge fivm sdlosJd. List year's lamb=. which are still pleuti'ul, are stale and faded. They are very slow of sale and realise generally about #K1 per )b. 'Jhe CC. and D. Company say with regard to these lambs, " they are a kind not wanted, aud aie no advantage either to owners or the trade generally. "

DAIRY I'KOniifE.

Writing to mo from Cr':isgo.v to-lay, Messrs Dempster, l'eter'on, and Go. say : "Our nmrkst is somewhat quieter and sellers are veiy anxious to clear what stock-; they have on hand, anticipating a further full in the Copenhagen market, to-morrow. Choices!; Australian butter is offeted freely at i)tw to 9S=>. and other qualities not so fine from 92s to 9R Thf weather is vary wet and has quite v depressing influence on the trode. (Jheese is sonvwhit easier in tone, and may be quoted 2s per cwt less."