THE RISE IN WOOL.

Patea Mail, Volume VIII, Issue 91, 31 July 1895, Page 2

THE RISE IN WOOL.

London, July 28. The total quantity of wool catalogued uptotbeeni of the week was 345,200 bales, of which 327,200 bales were sold. The bidding yesterday was spirited. The catalogue comprised good selections, and prices were very firm. American buyers made heavy purchases. Melbourne, July 29, The London correspondent of the Argus, writing under date 21st June in regard to the ceming wool sales, says : New Zealand is heavily represented, and , so far as the prospects can be gauged the clip has arrived most opportunely. Growers will find a strong rising market for the coarser grades. It is evident that bright-haired wools have entered upon a new lease of life, and there seems every probability of the decline in values being lecovored. New Zealand growers may congratulate themselves ou their good luck, for until a week ago people expected that the heavy arrivals would have the effect of weakening the values of the New Zealand crossbreds so largely offering. The New Zealand wools for the coming series have naturally excited some comment as to the quantities sold locally compared with the amount sold in London. As the local auctions in New Zea* land, as is well known, are small compared with those of Victoria and New South Wales, there is a strong feeling among the buyers and large consumers here that if some steps could be taken to centralise the market in Now Zealand, and so make the business more easily workable, largely increased support would be more readily given, and a success similiar to that experienced in Sydney and Melbourne might be expected. If one large central market iu the North 1 and one iu the South Island could bo established, an impetus would be given and an inducement held out to buyers that would prove effectual to the worth of the local market. Sydney, July 29. The rise in wool iu Loudon is affecting the local market. Two lots have been placed at Is 1M and Is 2d respectively The latter is the record price for the current year, and Id per lb above the top quotation realised at the last auction sales either in Sydney or Melbourne.