LONDON WOOL REPORT.—Oct. 23, 1861.

Hawke's Bay Times, Volume II, Issue 28, 9 January 1862, Page 2

LONDON WOOL REPORT.— Oct. 23, 1861.

The same inactivity noticed in our last report continues, and the few contracts made are entirely for hand to mouth operations; the only exception being for low East Indies, which have found a ready sale for America at an average advance of Id. to 2d. on the rates current in July. Our own manufacturers were likewise steady buyers at this advance, some very large contracts having been taken for blankets for that market. The next series of colonial wool sales commence on the 7th of November, the arrivals including held over wools now amounting to 65,000 bales, which it is anticipated will be increased to fully 70,000 bales, the largest number ever offered at the November sales. With reference to the probable range of prices it is difficult to form an opinion; all operations in the North are conducted with great caution, and there is evidently but little disposition on the part of either dealers or manufacturers to have largo stocks ; this may produce some slight reaction in prices, as few will like to purchase more than their probable consumption till the end of March next, when, if the accounts given of the large clip anticipated are realized, a very large February-March sale may be expected.