Markets.

Lyttelton Times, Volume VI, Issue 411, 11 October 1856, Page 6

Markets.

MAY WOOL SALES. Messrs. J. T. Times and Co.'s Wool Circular of June 4. which we subjoin, affords crpious information respecting the late London wool sales :— Our second series of -public sales of colonial wool for ihe year, the ilrst for the clip 0f1555, commenced on M::y S, and closed tills evening, comprising :— 1 3.074 bales Australian 'wool 22,116 . r I-V'rt Philip & Portland Bay „ 4,34-i „ Tasmania ",, 3,572 „ South Australia „ 372 „ New Z aland „ 7,JH-S „ Cape Good Hope „ 5].426 bales 1,134 „ East Inuia, including 17 China, wool ■52.560 bales. It will be remembered that, owing to general active consumption r.t remunerative prices, and increasing confidence in the improved value of the article—from exhausted stocks, and stimulated by a premium offered in the transition of the French tariff to greater freedom of trade.—the sales which concluded 6th March, went off at a large advance on November prices; uonvhhstandingVhich, the uemand continued and even outran the supplies then in the hands of the trade—and (as is frequent in such a siatc of thu:g s ), templing oners by private contract were made ani accented for small parcels in-aimc'paiion of the sales now just concluded! which prepared both buyers and sellers to expect a bosk opening; en advance in price was accorded at the beginning., which continued and increased dur-no-tlie nrst f ew «ay S; from a very brisk competition" bom b-tween home and foreign buyers, in which the courageoi our own consumers was cheering totho^e had marked the K-ading influence of foreign demand, winch on several previous occasions has been ouservaoie. _ About I2 : GOG hales may have been taken for continental supply. A wholesome check however occurred b-fo-* the middle of !he court*, a:;d the extreme rates r-e'ed-'d to a more temperate standard, which has been firmly maintained to tiie close, and the result is, on the wnoie, h:g«ly saiisfactory, although even a wholesame cK-ck in a sound thou-h excited market necessarily causes a little concern. Had the sal-s opened steadily at February prices, it is more than probao.e they would have progressed and left ofT nrni y at an advance, instead of-receding from a poaat -,vn:cn was found higher for the moment than ine^tratie was prepared to sanction. The fact of the July sales bein? just ahead, for winch over 45,000 bales have arrived since the opening, ami tne disposition inanifesltd in sonic uirectiosis lo clutch the extreme ra;e:< ur.txpec-c-'U" current t>y oiler-s at privaie sale, hdnvd to disn-i the illusion. Iso disposition has been* shown to* Writhe limit-by adding to the quantities declare- 1 "-'t pubac .ale ; but it U inansf fcS> : that a pressure om the Marker, even privately, must have similar, though jaioderait-d, d2!i;;: : :ing efiVcc. ° Tht demand has been lively for all descrir.tfon* Mecium wools h-.ve been relatively most afic'-ied both m tlie ris« and the decline. perh ; „>s ouiv because tiie ;^;,t -.v^ht of the stock must necessansy ue o! mis ue'cnwlion. S.-v« a i parerls liav« bee, received in superior contli y.iv., Klui:: diner favourite clins huve fica"-'----n-iiihr* -i:-c-.i tM--»r repsuatifjn i ;i tI.U n >)> i- : ';"ti fl; W'jl' iiccontit for g'>:ne n'aut of luiin r -1, >i v "in -\' ( > festive jjiices obtaiuei for t:»i.::; rt.^'-c- ■•■'^.i-'-'v

Lambs' wool, lias met with more favor, and fnlly maintained its position. Without the intervention of any adverse political changes, and bearing in mind that the largest quantity ever offered (last July) was taken readily at current, and even at advancing prices, we look forward with confidence to the iirm maintenance of average current rates, as no doubt the usual care in not putting an undue quantity on the market, even though arrived in time, will be observed by those to whom the interests of the trade are entrusted, as on former occasions.

A larger quantity has passed the hammer than is usual up to this period, from which it will naturally be inferred that the supply to follow is proportionately diminished. Some comparative estimates have been put forward, based upon a more temporary increase of imports during the early part of this over that of last year ; but it is manifestly unsafe to take these calculations as anything but careless or interested, in indicating a supply even equal to the active consumption which has been some time experienced. The honest account shows that we are actually confined to the limits of our home growth, exporting, within a few pounds, as much as we receive from beyond the seas, viz ; — Import, colonial and foreign, iirst lbs. four month*, 1556 . . . 1^,706,821 Exports, home growth and foreign, including colonial, first four months/ISSG .... 13,455,941 On the whole, the average prices of February have been well maintained, the increase during the early period having readied 2d to 3d per lb.,\vl>ile the depression latterly has obliterated it; considerable hie was manifested to the close, which is an important feature in the present st;w'e of the market. The Price Current will, of course, show a result rather better thnn the piesent actual „average value, as it embraces the highest prices reached, but not maintained.

The small quantity of East India wool arrived in time to be got ready for these sales were taken at recent current rates. About 2000J bales and ballots chiefly South American, were put up some of which were sold, and others, for various causes, withdrawn. As these circulars only profess to give a statement of actual occurrences, it was impossible to publish them before°ihe departure of the mail, as the sales only closed this evening. Price current of New Zealand wool, Is Sd to 2s 2d. Sales of New Zealand Wool on the 27th June, are reported at the following fieures; flue fleeces, clean 1* iOd'to *2s ; fleeces, average. Isod to Is8d; ilUconditioued, or inferior, Is 2d to Is 4d ; lambs', Is id to Is Sd ; unwashed and pieces, 9d to Is. The following report is from the ' Home News 'of June 19 : — The public sales of colonial wool closed on the 4th of June, and the catalogued quantities consisted of 12,97S bales ( Australian ; 22,413 bales Port Phillip; 4,354 bales Van Diemen's Land; 3592 bales Adelaide; 72 bales': New Zealand ; and 7912 bales Cape.—Total. 51,531 bales. It is gratifying to report that the tendency to depression observable afief the first few evenings' sale, was partially recovered before the close, prices railing about -id to Id, from the extreme d dine, and much animation was observable to operate at this advance. Purchases for foreign accounts were small, the total quantity taken by them was about GSOO bales ; a small proportion of the quantity sold, as compared with their previous operations. The accounts from the north are not so satisfactory as might have been expected, considering the reduction i:-. the liars!; raw- of 2 per cent, since the close of the sales, and decidedly improved accounts from Australia; the fact, however, of the raw material being still dear, has led many of the mer- ; chants, to be chary in giving orders for cloth to any extent, and the operations of our home buyers at this period being necessarily limited may in part account for the want of animation." Our next sales in July are looked forward to with anxiety, and all parties evince an indisposition to operate; the current feeling being for lower prices. Much depends on the quantities offered, and the competition we may receive from continental buyers, whose operations^materially influence prices. Th?;;:r.-h';^s of Australian wool at Liverpool, up jto i]:;> c:.a •■( ;*:ay, amounted to G. 162 bales—the j v.-jiGi:, oi v:!.:>!- had come on. to London, with one |or I'.vo ::-:i!i,:;s c::c: piioiis. j 'Jhe quality ;,h-'.'Kdy arrived consists of 51,000 baks. 9 *5; ]t°.:. 2--3 Lab" J I>y llen"y P- Hughes, on -r/!V 'f:]c:ihwo^ h ' (Few Zealand): IUI, 7at l.^d 1 -„t I*l. ;■ JC, 1 at 22id ; HC, 1 at 22d • A^, I-,t lOMjW, 1 at 18d;L,2atl8H; x A lat2^l, lat loid ; YM, 2at 19-£d;"B 2 .it VzU ; VvJ, 2 at 17-J-d ; TGN. 2 at lid • Nt '}t 'f& } at27ll > 6'^2^ 3at 24d, lat I 2.2 id, 2ut 21-id, lat yid, lat 2Od, 3at 19id, a over si m diamond, 4, at 27|d, 7 ut W^l, 1

at 21M : EWS, Bat 22 kl, lat 22d, 21 at 19 Ul • C, lat 20d. -I at li)id ;G.G at Kkl; HG, lat lid; S in triangle, 1 at 15d; TP, 11 at UM. Messrs. D. Hazard ami Son report as follows the progress ( aml vnvions fluctuations at the May sales; — The series of sales commenced on the Stli ultimo with jin unusually huge attendance of buyers from' the Continent, and'from our own mnnufacturinir districts. On the first opening the biddings were very spirited, mid the prices paid showed an advance oyer those of last stiles of a full Id. to lid. per ]b and which advance continued increasingly for the iirst 10 days up to 2d. to 3d, per lb., when many of the buyers, more particularly those from .the Continent, having satisfied their immediate and pressing wants of the raw material, left the sales* for a time 0 and the prices of most kinds became easier, declining very considerably on scoured, greasy, bad conditioned, uneven, and low qualities. Cane wools went off more steadily, ami wine in good' demand throughout these sales. During the last few days other wools have somewhat recovered ; some buyers have returned, and probably money having become easier, may have helped the prices, and caused greater firmness to have been exhibited towards the close. Although these sales have shown a «reater fluctuation as to prices th:in is generally the case in the same series, the average on the whole wou'd have been considered very satisfactory bad not the earlier days been marked by so great an advance over former prices; and looking to the large quantity expected for the July Sales, so soon to follow, the large quantity now disposed of in the sales just ended, the present prices, are .probably as high as may be obtainable at that time ; and yet if the demand continues as good as at present, we do not see any cause to expect any decline from the state of jinports and exports of wool in general.