LONDON WOOL MARKET.

Wanganui Herald, Volume XII, Issue 2991, 23 July 1877, Page 2

LONDON WOOL MARKET.

(Loan' and Mercantile Co., circular, 31 May).

Tlie result of tho current series of Wool Sales has, so far, fully borne out the anticipations expressed in our last issue as to the probable influence of the Husso-Turidbh way.

The decline of 10 per cent, ou the March rates established at the opening, was, during the following ten days, in a great measure recovered, excepting in Cape and cross-bred descriptions, but tho news of the dismissal of the French Ministry, which readied tlie market at this period, h'ul the effect of at once checking tho demand from that fmaiter, an/I causing a perceptible relapse in such Wools as-come moie p.tiUcularly within the range of competition of French consumers. More recently, however, increased, confidence lias been siiov. n by tLc i'oicign .section of the trade, and a conscqucnr recovery has been made of much of the ground which had been lost, _ in good greasy parcel \> and other superior combing dc-criptions. The rules for greasy crosb-bjed-, in which fore urn competition is onlisto'l, arc also I'aiziy .supported. But as the deprewon in flic home trade seems rather tod< cpen ihau otherwise, washed cross-bred parcel-, which depend almost entirely upon the competition of English buyers, exhibit no change for the better. Such shipments, Capes of all sorts, faulty scoured Wool, and middle and inferior ileeces are perhaps the cheapest kinds now selling. Ou the. other hand, superior and extra fine Wools, especially combing cla^-es and Lambs' Wool, arc, selling at very full rates. The quautities hitherto catalogued show a great indisposition ou the part ot holders to bring their produce forward ou current terms, and of the 305.006 bales available for sale, uot more than 128,U00 hpve so far been offered. Of these about 12,000 have been withdrawn, while a further total of 40,000 bales held over from the first scries of the year will have to be added to the arrivals for the third and succeeding scries.

Appearances seem to point to the probability of a very large accumulation of raw material for Ihe latter six months of the year, and with the continued existence of a certain degree of political suspense, to which our trade has of late shown itself so keenly sensitive, it will be seen at once that the prospects of a material rise in value, subject as they are to a variety of adverse contingenccs indirectly affecting the woollen industry, cannot be regarded as assured. On the other hand, any curtailment of supplies for next year will, when ascertained, have a tendency to counteract any further decline in the raw material.

Tallow. — Since tho departure of the ]nst Sail Francisco mail four public sales of tallow have been held, at which in the aggregate 4,401 casks of Australian were offered and 3,070 casks disposed of under the hammer. The fhrm tone noticeable at the beginning of the month was uot long sustained, ami prices ou the whole show considerable fluctuations. At the first of the auctions'a decline of Gd to Is per cwt. was established, but on the 11th instant all offered on that day was cleared at an advance of Is per cwt. This recovery was in great part due to a telegram announcing that instead of the Australian shipments for April "amounting to 7,300 they only reached 1,300 casks. At the two last sales, however, the demand has slackened considerably, and juices have given way about 2s per cwt. The decline for the month may be set down at from Is to Is 6don Mutton aud and about Gel per cwt on Beef, The tendency of the market is in favor of buyers.