OUR MELBOURNE LETTER.

Gisborne Standard and Cook County Gazette, Volume III, Issue 393, 19 December 1889, Page 3

OUR MELBOURNE LETTER.

(FBOM OUS OWX COBRISrOSD* ST.) Melbourne, Deo. 2. The growing importance of the Melbourne wool sales is becoming more and more manifest every year. The rapid,jand not altogether unexpected rises in the price of wool in London, that was telegraphed on the 27th alt., is a striking instance of this. The news comes npon us while the local sales are yet in progress, and, whilst a corresponding advance will at once take place h"re, we may expect that home buyers will hasten to anticipate a further rise in London by increasing their demands upon the local market, the effect of which would be to still further harden prices on thia side. Ot course, the low stocks of wool held In London and elsewhere, taken in connection with the improvement in trade, has for seme weeks past made it clear that there would be a brisk demand for this season's slip. But I apprehend that few people antioi* paled that prices would go up at a bound by something like thirty shillings per bale. Thirty shillings per bale I What does it mean to the woo! growers of Australasia and New Zealand? Why it means that they will divide amongst them between £2,000,000 and £3,000 000 more than expected only ten days ago. One squatter says that from his three stations, be will get £60,000 in lieu of the £40,000 he expected. Ooe of the morning papers, discussing the situation, describes it as a “ Boom in Wool.” It is nothing of the kind. A “Boom” is a feverish excitement, the result of reckless speculation based upon nothing more substantial than a shadow. This is tbe result of legitimate demand, based on the actual requirements of trade. This has already to some extent made its effect felt on the local market. Soma London buyers, fearing they could not fully supply their wants out of the 160 000 bales to be put up for sale there last month, have bought in Melbourne. On Saturday I asked Messrs Ooldsbrough. Mort, and Oo„ Limited, who bead the sales in Melbourne, to give me the results ot tbe sales so far. Krom the figures they kindly furnished it appears that between October 2 and November &0 <the day in cues* tion) there have k en 40 UUui, Al which 131,329 bales were uttered, and 131,121 balsa sold. I may incidentally mention that 12 Bt these 45 sales w< ‘ ra bald by Messrs Goldsbrough, Mort, and Co,, st which they offered 43 932 bales, and {sold 41,131 of them. They thus sold more than one third of ■ that changed bands, Besides the Melbourne sales, there have been 1? sales at Geelong. The number of bales offered was 36,039. The quantity snld was ,33,668. Thia advance in Wool should improve trade throughput tbe Colonies. The trouble between the Upper and the Lower Houses ot Parliament over the Elducation Endowment Bill wiil bear fruit hereafter. Members of the Assembly who hoped tq draw an extra £lOO a year under the provisions of the A fi t cannot forgive the Legislative Council for attempting to deprive them of such a substantial addition to their respective incomes, whilst Ministers, if they have already promised gny of the “ billets," as the reward of " support,” will Im at a loss for the means wherewith to satisfy the daiars of their hungry followers. True, there a:s the three portfolios of Messrs Batson, Dow, and D, M. Davies, which ought to be vacant shortly, Neither Mr Gillies nor Mr Deskin can afford to have those three incapablae hanging to their skirts much longer. Mr Pearson is too much of a dreamer; Mr Davies is not much of anything; whilst the eccentric Mr Dow is too fond of making surprising, if not quite original, departures. But the offices those gentlemen now fill sra too lucrative to be scattered amongst the "ruck,” some of whom are satisfied with a £lO excursion ticket; and

Mipisters will have to cqst about- tor some pfber means of satisfying their Supporters unless tbe Upper House can be induced to give way, Boms very broad hints have been given to M Gillies that he is bolding too many offices hna-elf. As Premier there is sufficient work to occupy the time and gratify the ambition of any reasonable man. But Duncan is also Treasurer, Minister of Mines, and Minister of Bailways. Why 1 It cannot be a love of hard work that tempts a man to perform these varied functions. It cannot-be that Other men are sot availaWe. The only explanation is—money. Tbe •>" sweets of office ” are awfully seductive. Two things have hsopened under the recently amended tariff which were but expected by interested parties. There has been a decided increase in the consumption of imported lager beer since the import duty was raised, and less of Mr Foster'-* beverage has been drunk. In fact, tbe increased duty dpes not affect consumers; it comes out of the pockets of publicans, and, as Mr Vale would add—“ sinners, and serve them right.” Then, again, colonial tobacco growers are not satisfied. Six months ago co'onial leaf was used for blending with the imported article. But since the change it is not used at alt. Foreign leaf only is used. All tbe better I, 4l a smoker, declare. When colonial leaf is made as good as that grown abroad it will be Welcome. Until then let us have tbe best. Another of Boucicault's popular dramas,

‘‘The Octoroon.” has been produced at the Royal, with Mr Grattan Biggs In the character' of Uncle Peto, and" thia clever gptor furnishes additional evidence of his great versatility. He is supported by a powerful cast, and the play is received With great favor To Mr Edward Glass is allotted a part of Salem Scudder, and Miss Clara Cowper appears as Zoe, the. Octoroon girl. Tbe scenery is on tbe lavish scale which ChuraoterisM ail productions at tb|a place of bipnsement; but the drams is staged tor a limited numbgr of nights only. The most successful play of the season, <* Little Lord fagntteroy," will terminate at the Princess Theatre in a few nights, ‘‘Amory and Cleopatra” has been withdrawn from the boards of the Opera House, and now Mr Miln and Miss L»uire Jordan are appearing th f‘ Romeo and Juliet;” Mr Miln’areadihg Of Romeo displays to the best hi* admirable elocution, and Mies Jordan exhibits a simplicity, warmth, and . iffiplil’iYePgts fhbreughly characteristic of ftp ’ yquthp'l |a S jhter of the r C»pn]ets. Mt A/5, Greenaway, a young Australian actors will make his drat appearance as Romeo at this theatre shortly, The opera season at the Alexandria is -drawing to a close, and “The Sultan of Mahahas proved so attractive - that the Management announce Us continuance up to the last night,