The Wool Market.
Theme is bad news about the latest series of wool sales, in the London market. The telegrams are as follows —London, Ist September ; —The wool sales have opened without animation ; only a moderate attendance of buyers. Merinos have declined 5 to 10 per cent. For crossbreds the market shows no change. The New Zealand Loan and Mercantile Agency Company (Limited) have received the following telegram from their London office, dated Ist instant Wool— The sales opened to-day at an average decline of 5 per cent on last sales’ closing rates. The opening catalogue contained 12.000 bales. The sales comprise about 270.000 bales. At to day’s wool sales 2,200 bales were offered at auction to a Hat market. A decline in the price of wool means decreased income to wool growers, and, by consequence, decreased power to expend money in making improvements on their runs. Besides this, a low price for wool depresses the commercial interests of the colony generally, and more or less affects all classes unfavourably. Let ns hope that the fall in the price of wool may not continue.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/WAIST18850907.2.8
Bibliographic details
Wairarapa Standard, Volume XVIII, Issue 1730, 7 September 1885, Page 2
Word Count
184The Wool Market. Wairarapa Standard, Volume XVIII, Issue 1730, 7 September 1885, Page 2
Using This Item
No known copyright (New Zealand)
To the best of the National Library of New Zealand’s knowledge, under New Zealand law, there is no copyright in this item in New Zealand.
You can copy this item, share it, and post it on a blog or website. It can be modified, remixed and built upon. It can be used commercially. If reproducing this item, it is helpful to include the source.
For further information please refer to the Copyright guide.
Log in