LONDON WOOL MARKET.

Lyttelton Times, Volume VI, Issue 434, 31 December 1856, Page 6

LONDON WOOL MARKET.

:; The sales terminated on the 25th of August The subjoined report is from the ' Home News' n the 4th September: "The public <-• ales of the largest quantity of : vool ever or.-red in one series closed on the :.;;.loi\i ci' Aiipi-t. and the quantities comprised :; n the c-yt.;d i ...:-u-s consisted of 23.050 bales - rydnev. 20:72,' -dcs Port Phillip. 10.010 bales S/)74 bdes Van Diemen's Laud. 3.420 V.. »ales New /--.^iml, 837 bales Swan River. -.: b350 huh* <>-. 7U,37b bale* colonial, 7,334 ; ->al<?s East h■■ .id other low wooL. ,- Prior to •-..-.- '.■..%mmcncemeut of the sales ; .j.nuch differ-;.. .■; opinion existed as to the V.ftrobabhf rr: ■ : ]*!<;&. The difficulty fell by , ualcrs iiiyf their pmvha*f~ bom the iirk \friiou of . ■ ->c* even ,v, .-t*t, coupled with .'" |he cjre-nb'/ ■■■■■; ■ ; report* —true us far ;-.:-: they ■'""■ent^ (lm ■■■■:. .-.* only ex r-r! - KtaleujMds f hosild 3*:>t: ■■-••■ :--..-n <-ii-euL-.ud „\ \'i out. r.mdiii■;._ot vei^O-J ■■ ;:,lj;t|. :; <...'' *4 . tr-de* l!;at we :* crC f<3 .lei -.vitl; V.-'X-], ;uVI l,U:d COll-

sidcrable depression must exist when the first sale of the duly-August series was offered. A timely circulation of the facts and figures by a leading broker produced its effect, and buyers began to look more deeply into the question, the result of which was satisfactovv; for at the opening sale a decline was established of about Id, to'lid. per lb., and at this reduction both our homo manufacturers and the buyers for export bought freely. The dealers who had suffered most from the reaction in May, held aloof for some time, taking only a few lots nightly. The eagerness of manufacturers to stock soon changed the tone of the market, and their largo purchases, coupled with splendid weather for harvest operations, caused prices to stiffen, and the dealers finding the market against their views, commenced their operations (which, in the aggregate were large), and prices advanced until the decline quoted was recovered, and our market closed very firm at prices fully equal to tho closing rates of May-June. During the sales the demand for prime combing and clothing flocks was very good, and high prices were paid for the choicest brands. The three legs from Van Diemen's land realised for best lambs 3s. 6d. -. and prime combing 2s. lOd. to 35.: the best clips of Moreton Bay brought long prices, 2s. -id. to 2s. 7id. being freely paid. The purchases for foreign account may be computed at 18,000 bales.

The next sales are fixed for the 30th October, and the quantity expected to be offered is about 40,000 bales.

Should the harvest be secured and money remain easy, there is little doubt that wool will command higher rates in November and February: the accounts from Australia received to date confirming the opinion of those well versed in the trade that the import of this year will not equal last: should this prove the case, we shall be sadly in want of wool ere the May

sales,