WOOL A SHADE QUIETER, BUT FULLY FIRM.

Otago Witness, Issue 2399, 22 February 1900, Page 7

WOOL A SHADE QUIETER, BUT FULLY FIRM.

The rapid revolutions in the world of commerce and the new complexion of things in Sotith Africa which has taken place since we last wrote, could only be expected to have fome effect upon the market for wool, and during the past week business has slowed dov. n considerably. Perhaps more than dear money the reverses at the Cape are accountable for bringing into prominence the frequently expressed determination of spinners to wait awhile before embarking on new commissions, hence freph sales have had the brake applied, and there is a good deal less doing. Then, too, the end of the year is a mighty force in causing men to buy but little above - what they actually need, and having laid in pretty heavily of late, spinners s>eem now in no humour to do a deal of fresh buying until the turn of the year. This is causing men to lie low, and there seemp a geneial desire to let things rest. In following this course we think that topmakers are acting with great wisdom, for to force things would undoubtedly mean a falling in price. Then, too, sellers can afford. to take things quietly, for the business done this year has certainly been a record. The most satisfactory feature of the whole fabric continues to be a very full maintainence of consumption aijd machinery is fully run. In fact, no fears need be entertained on this head, for \mless heavy cancellations take place, both spinners and manufacturers have enough work io last them for months. Prices keep fully firm, especially in regard to merinos and flue crossbreds. There is hardly so firm a feeling in, strong orosebreds, and

it will be well if present values both in London and Bradford keep up. Stcoks here of everything trom 4-o' s downward are very heavy, and men can yet pick and choose with considerable freedom.

In the yarn branch new business is small, and merchants find they can only place orders at erj- stiff rates. Spinners are being pushed to get out yarns., and will be busy for a long time to come. Manufacturers" are likewise fully employed.