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Hawke's Bay Times, Volume II, Issue 53, 3 July 1862, Page 5 (Supplement)

LONDON WOOL KEPOET.—ApkiI 22,1802. Since the last report inquiries in our market have been on a very limited scale, those who found a difficulty in supplying their immediate requirements from the stock of Port Phillip submitted in March sales have nearly done so by private contract from recent arrivals. These purchases have been very limited and chiefly of full-bodied wools ranging from 2s. to 2s. 2d.; the operations in those exceptional purchases may amount to about 300 bales, and this to oblige the buyers, for os a general rule it is found objectionable to sell wool thus. The sales have been fixed to commence on Friday, May 2, a departure from the usual custom of fixing Thursday, in consequence of the general wish expressed that the first day’s sale should not bo on the same day as the opening of the Great Exhibition, fixed for Thursday, May 1. The arrivals to date are very largo, viz.:— Australian, 12,390 bales ; Port Phillip, 11,110 ; Van Dieman’s Land, 4529; Adelaide, 12,511; New' Zealand, 1704 ; Swan Elver, 2071 ; Cape, 7000; total. 84,385 bales. Judging from the feelings in the North, and the general state of trade there, recent rates can scarcely be looked for, particularly for Port Phillip, on which a decline may be anticipated of lid., perhaps on the better flocks 2d., these having been in very short supply during the March sales; other description will no doubt be in favour of the buyer, but will sell well and nearly maintain the prices of the last scries. A deputation from the buyers have had an interview with the merchants’ committee, to take into consideration the importance of limiting the period over which the sales of the year extend; the general wish of the buyers being* that from 3000 to 3500 bales should be sold daily, and, if possible, in about 400 to 450 lots. After this interview the subject was discussed with the leading brokers, and all being anxious that the matter should be amicably arranged, the wishes of the buyers will, so far as is practicable, bo carried out. The brokers, and very wisely so, being considered by merchants and buyers the best parties to carry out the arrangement, it was mutually agreed that the subject should be thus left, and that as forthcoming May sales would comprise many of the large flocks this series would afford the best opportunity of testing the arrangement and of judging whether an increase in the number of bales in each lot will enable the brokers to obtain the full market value—some holders imagining that many of the smaller manufacturers will not be able to bid at many lots if too largely increased. The subject being left entirely to the brokers, the leading importers are quite content, fully assured that the interests of all will receive due consideration.