LONDON.

Lyttelton Times, Volume VIII, Issue 494, 29 July 1857, Page 4

LONDON.

The 'Home News' of May 16 reports the Money Market as improving. A reduction in the previous high rates was expected. Consols for money were quoted at 931. Colonial securities were low. The shares in the Dun Mountain Copper Mine are quoted at •§■ to f premium.

The following is the London Wool Report of the same paper. The first series of sales of the new wool clip commenced on the 30th of April, the arrivals to that date consisting of—Australian, 17,100 ; Port Philip, 19,904; Van Diemen's Land, 6,613; Adelaide, 8,942; Cape, 6,852; total, 59,411.

Prior to the announcement of the sales considerable stagnation existed in the Northern markets; and the difficulty felt by dealers in placing their purchases from the February sales at a profit, coupled with the fact that manufac-. turers could not sell their productions (made from the wools purchased, at these sales) at a proportionate advance, led all to look for easier rates at these sales; some,; carried away by excitement, confidently anticipated a decline of 4d. to 5d.; others better versed in the actual state of things concurred in the opinions of the more thoughtful buyers, and a declension in price of L§d. to 2d. was expected. At the opening sale the attendance of buyers both hom3 and foreign was very large, many came up from the north to participate in the decline so wished for. The sales, however, opened with firmness at a decline of Id. to ljd., and the competition was good, although not brisk at this reduction. After the first few evening's sales, prices had declined, and a fall of 2d. to 3d. was established. Had not the foreign buyers been eager competitors and larger operators than ever before known, prices would have further receded, but their steady purchases night after night, soon told on our home buyers, and after 30,000 bales had passed the hammer, their biddings became more spirited. Importers have been materially assisted in these sales, to an extent hitherto unprecedented, by o ders from the continent, and are mnch indebted to the spirit evinced by foreign competitor.' 5 who, notwithstanding the sulky appearance of home buyers, have taken, to the present time, rather more than half of all the wool offered. Our buyers had evidently reckoned without their host, for the daily prognostica-

. tions that the foreigners woukl « soon fiU their cheques," and then they would come m at a material decline, caused many, not™} sa gainc, to hold off; and now, when the best (at feast the bulk) of the choice brands are sold all Inivers are beginning their operations on a rising market-the prices being decidedly firmer than gfor some days past Should the operates for Germany, France, and Belgium continue on the same scale, prices will fully recover to the opening rates. Our own buyers contmue to act with the greatest caution, preferring to confane their operations to supply immediate wants. PEICES OF NEW ZEALAND WOOL. i May, 1857.—Superior flocks in best condition, Is. lOd. to 25.; Average to good in tando., Is. Bd. to Is. lOd.; Ord. and ill-conditioned flocks, Is. sd. to Is. Bd.; Scoured clothing, Is. 8d to 25.; Do. Lambs', Is. 7d. to 25.; Fair and handwashed skins, Is. 3d. to Is. 7d.; Inferior, Is. Id. to Id. 3d.; Lambs' good, Is. 7d. to Is. lOd.; Do. inferior to average, Is. 4d. to Is. /a. : Broken locks, &c., lOd. to Is. 3d.; In grease, lOd.