NEW ZEALAND PRODUCE IN LONDON.

Otago Witness, Issue 2429, 3 October 1900, Page 14

NEW ZEALAND PRODUCE IN LONDON.

CFbom Ova, Ovjn Correspondent.) LONDON, August Ao. . / , "WOOL. ,- ' ~

This week has also be,en a ,v.cry quiet one .on. the London wool market. Messrs Balme .say, that the only feature of interest in the' trade 1 has been a sale by public auction of some 4150 bales of River Plate wool in Liverpool last Wednesday. According to advices receivet^ there was a large atterdance of English buyers, but there were very few representatives of the" Continental trade. Competition, for both merino and ciossbred wool was fairly active,' and about 2750 bales were disposed of, the bull^. of which was secured"' for the Bradford market. As compared with the rates current at the previous Liverpool River Plate auctions, helcl about the end of March, prices for merino and? fine crossbred produce mark a decline of 25 to 30 per cent., and for coarse erossbreds 15 pec cent. The arrivals to date for the fifth series total 218,344 bales, New Zealand being represented by 97,738 bales. Some 28,500 bales ' of of New Zealand and Australian wool have been 'forwarded direct to the manufacturing centres, 1

It is remarked by the New Zealand Loan aricß Mercantile Agency Company, in their report for the outgoing mail, that there is little orno change to report in the position of-the-AvocJ market. In the raw material hardly any business is' passing -by private treaty, while advices from the manufacturing- centres^here and tha Continent still point to general inactivity so far as merino and fine crossbred wool is* con- ' cerned, though in the coarser qualities of tha latter a fair trade is being done. Perhaps the most- encouraging feature a3 affecting the -im.r mediate outlook is, says this report, that stocks of wool in the, hands of consumers are in small compass, and as the demand for the spring, season's goods is now setting in it is to be hoped! that manufacturers will before long lie compelled to biiy more freely than of late.- * Messrs TVeddel remark that the course of business in, the wool market has, diifing tha past .fortnight,- been uneventful. Users" #re still exercising great caution in supplying tlieir; wants, but at the same time it is clear thai the? position of the raw material is no woise than: it has recently been. Indeed, here and there* expressions of great -confidence in the near future have been heard. Inquiries are slilt being made on this market for small lines both of merino and crossbred wool, but, generally, '- speaking, there is very little' doing. la the wool trade the past aiontk iiftS beei*

one of extreme quietness. The holiday season lias been in full swings but the National Mortgage and Agency Company do, not_ think that this alone is responsible for the quiet" state of business. Manufacturers are very loath to launch out at all (freely until they see their way clearly ; hence the yarn market remains decidedly^ depressed. This applies to merinos and fine crossbreds, $i& coarser haired wools being still in good demand, and a good turnover .done in them. From America there is a slightly better feeling reported, and- in this country there is on 1 the whole rather more-conf-idence.in the near future. "..Reports;, from the .Continent are, on the" other hand, very do--pressed. Arrivals to date for the fifth and final series of wool sales for the present year, to open on the 9th October, now total 218,344 bales, New Zealand being represented by 97,738 bales, thus leading the list.