LONDON WOOL REPORT, DECEMBER 7.

Lyttelton Times, Volume V, Issue 255, 11 April 1855, Page 4

LONDON WOOL REPORT, DECEMBER 7.

The last sale of. Colonial Wool for th e year commenced on the 14th October, and terminated on the 14th November. The quantity announced for sale consisted of 14,662 bales Australian, 20,519 Port Philip, 3563 Van Diewen's Land, 48>3 Adelaide, 204 Swan River, jugs New Zealand, 6882 Cape ; total, 52,651 bales. It is matter of gvatuiation to tl c trade, as exhibiting its very healthy condition, that the whole of the above quantity should have found ready purchasers at an average advance of five per cent, on the prices realised at the July ami August series. Prior to the opening of the sales, many of tlie dealers and manufacturers were anticipating a slight decline; the general tone of trade, and falling off in our exports of woollen goods partly contributed to this feeling ; at the opening sale, however, the closing prices of last sale was fully established, and a tendency to advance observable at each night's sale. Under the influence of large purchases for export, prices gradually rose till an advance of \5 to 10 per cent, was established, which however was not maintained, the cessation of their competition, excepting to a very limited extent, coupled with a rapid rise in the corn market, gave the turn in favour of our manufacturers; their biddings were not, however, so spirited as at the commencement, although they continued their ope-

lations to the close. * me ractoi iv,uw uaics having been taken for the continent, tended materially to support four market, and in the absence of the sudden rise of wheat we might have anticipated that the full advance would have been obtained : the dealers in all their purchases were actuated by extreme caution, none seeming willing to have more stock' than actually necessary for their winter demand.

For the opening sales of next year, which will probably commence about the middle of February,, there are already 19,000 bales arrived, and with cargoes known to be afloat, we may look for full 40,000 bales. Should the present rate of consumption continue, onv market »rill not be over supplied ; but with the probability of a large loan and increased taxation it can scarcely be expected that the spending powerof the people will not be materially affected, and a large diminution in Jthe demand for 'woollen goods take place. Indeed, symptoms are already observed of those who purchased largely endeavouring to quit a portion of their stock at a small profit, preferring not to be overstocked at a time when the present high range of Colonial Wools may be subject to fluctuation. The exhibit of Wool during the last sale was very good, and really fine flocks (particularly those Of noted brand from Moreton Bay) realised long rates, 2s. to 2s. 3d.' being' paid ; and although fair prices were obtained for medium qualities, the prevalence of seeds, buns, aud moats prevented many of otherwise good character producing their relative value. It is hoped that next year's import will be more bee from these objections, and, that the grower will endeavour to remedy these defects which on a falling market would tell seriously on the price.