COMMERCIAL.

Lyttelton Times, 26 August 1858, Page 1

COMMERCIAL.

LONDON WOOL SALE,

May 15.—1n confirmation .of our views expressed in the last .report the wool sales'commenced on the 29th April, the total quantity declared for sale consisting of 13,599 bales Australian, 19,405 bales Port Philip, 12,371 bales Adelaide, 4350 bales New Zealand, 800 bales Swan River, 8016 bales Cape; total 58,541 bales. At the opening sale the attendance of buyers both home and foreign was scarcely an average, and prices opened at a decline of lsd, to 2d. per 85. on all descriptions. Biddings continued languid for the first few days and prices were a shade easier, but a disposition to withdraw soon told and prices gradually recovered to the opening decline with more disposition to operate; stimulated to some extent by a speculative feeling, the extreme cheapness of money pointing to wool at present rates as a good investment. Cyinplaints from the manufacturing districts that wool is not yet low enough, and that stocks of manufactured goods cannot be moved off at pro rata prices with the raw material, has produced a considerable effect on the present sales, as the absence of competition from the smaller manufacturers is much felt, and their depression reacts on the dealers who, although buying freely, act with extreme caution. Operations for the Continent during the last 10 days have been on a large scale, particularly for choice Sydneys (one mark, X E in diamond, bringing 2s. sd. to 2s. 7sd.), and Adelaide wools in grease. The sales are now progressing with spirit, but all buyers .are cautious and prefer waiting for July sales, when probably prices may rule in their favour. The MoniSy Market.—The * Home News,' of the 25th May, says—The demand for money has , been moderate; and although the terms out of doors are stin \ per cent, under the Bank minimum, the applications at the latter establishment have been rather more numerous. These can only arise from the requirements of customers ; since, pending the existing political difficulty, great caution is exercised in extending engagements. Respecting the position of the India and China trade, it is stated that the 4th June will completely exhaust the doubtful liabilities which have been incurred through the purchases and the depreciation of produce. Business paper of the second and third class is now more freely negotiated, but dates beyond three or four months are as yet as much as possible avoided. The current rates are, for good bills, short dates, 2$ per cent.; for longer periods, 4to 5 per cent. The Colonial Government securities are quoted in the * Morning Herald,' ofthe 25th May—Closing prices: N. S. Wales Government, 101$ to 102$, closing price; South Australian Government, 6 per cent, ditto, 109 to 111; Victoria Government; 6 per cent, ditto, 109 to 111. SYDNEY MARKETS. August 7. —No alteration is visible in the wheat and flour market. Flour is quoted at the mills at £20 for fine and £18 for second quality per ton of 2000 lbs. Bran 2s. 6d. per bushel. Wheat Bs. per bushel.—Potatoes £10 to £11 per ton. MELBOURNE. To-day has been a perfect blank in the import market for every description of goods. By auction the sales generally have been unimportant. Messrs. Easey and Co. sold the remainder of some parcels of Mauritius sugar. Middling to good brown brought £35 10s. to £38 per ton;

English refined sugar, 6|d. per lb.; Souchong tea, in chests, £8 155.-each; Scotch oats, ss. 2d. to ss. 3d. per bushel; 2,000 boxes candles realised the following rates:—Ogleby's patent sperm, Is. 3£d. to Is. 3|d, ; Belmont's No. 1, Is. 2£d. to Is. 2fd.; Hales's, ls.2£d.; patent sperm,ls. 3£d.; pure sperm, 2s. Id.; Bougie's, Is. 2d. per lb.— Argus, August 7. HOBART TOWN. August 2.—Elour, (best) £18 to £20 per ton; wheat, 7s. 6d. to 7s. 9d. per bushel; oats, 65., nominal; barley, Cape, 6s. 6d.; English, Bs.; hay, loose, £6 to £7 per ton, pressed, £8 10s.; potatoes, £8 to £9 per ton; cheese, lOd. to Is. per lb.; onions, £20 to £25 per ton.