Commercial Intelligence.

Hawke's Bay Times, Volume XIV, Issue 629, 12 November 1868, Page 2

Commercial Intelligence.

COLONIAL u'OOL SALES.

Ws take the following from Mr Swartze’s circular, dated 11th September : The following wools hare been offered in our public sales up to date Port Philip, 30,469 bales ; Sydney, 35,137jba1e5; Adelaide, 8.778 bales; New Zealand, 23,071 bales ; Van Diemen’s Land, 6,707 bales ; Swan River, 6 bales; Cape of Good Hone. 16,702 bales; and 295 bales sundries; total, 127,165 bales. Of this quantity about 16,000 bales have been withdrawn; 93,000 still remain for disposal. The sales draw languidly along; there is no increase of foreign competition, and the main burden of clearing the market thus falls upon the i uome ITuTcTS, wuo, bciug left to tbciiiselvtJS, nave ;it much their own way. A few descriptions, such . as the best scoured Sydneys, are in fair demand; .» but, as a rule, good faultless wools share the same 9 fate as the bad ones, not even their comparative I •ararritr hftine able to exempt them from occasional I neglect. The tall in prices—great,ly under-estima- | ted on the first night of the sales—is fully 2d to 3d "I from the closing pate s the June series. It a? C

plies alike to all descriptions, good and bad, but naturally tells with the greatest force on the low price sorts, for which the demand is as utterly indifferent as their supply Is large. The trade in Europe is. fairly employed for home use, but almost paralysed in its export branches: and as the power of consumption is thus materially reduced, the heavy quantities tell with double force, and produce an apathy which, it seems, neither the low prices, nor the more hopeful view of the future opened up by the harvest, are able to overcome. Nor does there appear much chance of a speedy reaction for the better. Only little more than half of the wools arrived for these sales having been sold as yet, the probability is that the 93,000 bales still for disposal will meet with a heavier market !as the sales go on, and all wants get more and more supplied. Unfortunately a great number of parcels are withdrawn, which will probably spoil such p Vo v ember sales. For assuming 80.000 bales of fresh wool to come in, they will, with the 30,000 bales probably held over from this series, again make up a total exceeding 100,000, mostly, if not exclusively, composed of inferior wools, and the fact that the November series will be held contemporary with a sale of nearly 50 000 bales Ilucnos Ayres wool at Antwerp, and just at the time of the coming general elections, when ail business will come to a temporary standstill, is not calculated to improve a market already languid and overstocked. For these reasons growers should look forward to a continuance of the present low range of prices, and this the more it it be true that the new clip again shows a considerable increase over last year’s produce.