COMMERCIAL NEWS.

Hawke's Bay Times, Volume II, Issue 88, 9 February 1863, Page 2

COMMERCIAL NEWS.

LONDON WOOL REPORT. November 25, 18621 The last sales for the year commenced on the 14th November, the arrivals to that date consisting 0f—1867 bales Australian wool; 8554 bales Port Philip; 2046 bales Adelaide; 2023 bides Van Diemen’s Land; 8678 bales New Zealand; 79 bales Swan Eiver ; 26,875 bales Cape—totab 57,142 bales; 18,000 bales held over, bought in and for speculators; making 75,142 bales. The inactivity apparent in the Wool Market after the recent rise gave evidence that the advance paid would not be obtained during the forthcoming series, hence dealers were willing sellers at a less profit than they had obtained previously ; and manufacturers who had to a great extent anticipated their requirements for some monts, were indifferent about further increasing their stocks even at a slight advantage, particularly as it was evident that the speculative movement could not be obtained; this, coupled with a slackening demand for goods, caused |ftl parties to look with great anxiety for the opening of the sales, which opened with a very large attendance of buyers, and although prices were well supported for the first two nights’ sale, it was evident that the trade were not in a position to take wool at high rates—hence the advance was lost, and there has been continued dullness at each sale, with no immediate prospect of recovery. We, therefore, quote prices now on the average fully equal to August rates. It is scarcely to be expected that, with the present large quantity of wool yet to bo offered (about 55,000 bales), that even the present rates will be maintained. The absence of the manufacturers in any number is remarkable, and an evidence that with them at least present rates even are not of a paying character.