Markets.

Lyttelton Times, Volume XII, Issue 739, 7 December 1859, Page 4

Markets.

In our home markets the principal feature to report is the stir caused by the current of wool bales pouring into town. All the circumstances of this season's clip are satisfactory. In the iirst place, it has been very much wanted and looked forward to, for the purpose of relieving the duluess of the winter and spring. In the second place, it is being got through with unusual comfort to station keepers, owing to the fineness'of the weather and the larger supply of labour than last year, at least in some districts. It is a remarkable fact however that shearers are not to be had even now in the numbers required. In Timaru there is a positive scarcity of labour. The prices paid throughout the country vary this year from 20s. to 225, (ill, and in some cases we hear even of 255. per hundred. But the principal feature deserving attention is the abundance of the clip, which owing to various causes will be remarkably heavy this year. Referring to the wool report quoted below, it is Ter} r gratifying to find that New Zealand wool is receiving a full share of attention at home, and that it possesses characteristics of great merit. It may be well however to repeat the caution given, by brokers and others of experience, that 'it is better to clip in the grease than wash badly.' And settlers require to be reminded also^ that false packing is exceedingly detrimental, not only to the brands in ■which the fault is discovered but to the general credit' of the district which has sent a shipment containing one or more specimens. We regret to say that we have before us comments from Mr, H. P. Hughes, the eminent wool broker referring to this fault in Canterbury wools especially. The prejudice excited, the hindrance to business, and the loss to the growers in consequence ought to be remembered by our . sheep - farmers, when ..tempted to 'commit such an act of carelessness, not to say dishonesty. As an instance of what is gained by contrary tactics, we may refer again to the prices obtained by the CX brand, now well known in the province, which obtained at the last sales not only the highest price, but an even price throughout the whole number of bales; there was a scramble for it among purchasers when the lot was put up, and a corresponding satisfaction on the part of the purchaser on opening the bales. It -will be seen that the Ashburton, Cashmere, and Eoyal Bride are already laid on to take wool home this season. These are all capacious ships; and we have now to add a fourth in the Mermaid, a vessel of still larger size to follow.

MELBOURNE,

The following is Goldsborough and Co.'s Circular of November 12th: —

Wool.—The week opened with a good inquiry, and although apparently the last chance of getting Wool delivered in London in time for the February sales has passed—the Donald Mackay having taken her departure with a full cargo of 4240 bales— buyers appear quite as eager to purchase as before, at fully previous rates, more especially good; clips. At a sale by auction in Geelong, on Tuesday, 709 bales were catalogued, but the attendance was scarcely so good nor the biddings so spirited as at previous sales, buyers being evidently discouraged at the indiscriminately high reserves placed on a considerable number of the lots by the owners, causing an opinion to be prevalent that many of the lots were offered in order to ascertain their value, with a view of eventually trying this market. In all 246 bales were sold, and the competiton for one good lot was spirited, but for the remainder, biddings were rather languid. In the same market we hear of good bright samples selling privately at the same price as wool in only second-rate condition, business being generally transacted without the intervention of a. broker to determine value. The Melbourne sales have not been held this week in consequence of the usual day being observed as a general holiday, and'also on account of the intei'ruption to business consequent on the race week. We have, however, to report having done a fair 'amount of business by private contract, having sold 638 bales of greasy, fleece, and scoured at the following rates:—

Greasy .. 168 bales, at from Fleece ".. 270 " « Scoured ..' 200 " " Total.. 63S bales These prices aTe quite equal to those realised. at the sales by auction last week, and must convince growers of the superio'iadvantages'.held out by this market. The next sales will'be held on Wednesday, the 16th of November. ■.:■ -;

ll|d. to Is. ld/S Is. 7id. to Is 10i-d, Is. SJd.to 2s.

IOKDOir wool market. —(From the:' Home News.') Since the close of the last sales hut few contracts, have been made in our market; and although some buyers are working up stock quicker than anticipated, they are not prepared to give the advance asked by holders. The latter are very firm and not willing to part with their purchases except at a full profit of l^d., preferring to wait ftie result of the November sales, or even holding till after. Christmas—the present rate of consumption confirming the views of speculators, that stocks are likely to tuu very short, particularly in loug stapled descriptions.

The accounts from the north continue very satisfactory; many manufacturers are very heavy in orders for some time; others sell their productions as soon as shown, hence stocks are very low in manufactured goods. The raw material continues firm, with an advancing tendency; and the dealers generally not being anxious to sell except at full profits, adds much/firmness to the market.

The ' Times' of August 31, says:—

The public sales of colonial wool, which commenced on the 31st tilt., terminated to-day. They comprised 24,679 bales of Port Phillip, 24,548 Sydney, 7,526 South Australian, 8,851 New Zealand, 9.429 Van Diemen'a Land, 24 Swan Kiver, and 14,144 Cape of Good Hope, making a total of 89,201 bales. According to a circular of Messrs. Southey and Son, — "Prices opened at an advance of 1% to 2d. per Ib. on the rates of May, and farther improved as the sales proceeded. The remarkably sustained spirit throughout the entire series may be ascribed to continued activity in the Yorkshire markets and a universal feeling among all classes of buyers that this state of th'iDgs will not relax, and that November sales will be very light. The better qualities of Port Phillip combing wool manifested the greatest advance, being much in request for foreign account, more particularly for France and Belgium. Some flocks show an improvement of 3d. per Ib. Superior Sydney has fully partaken of the advance. New Zealand continues to increase in importance, the prices realized offer great enconragement to the fiockmasters of that colony. A very large proportion of the Capo wool, being firm stapled and free from double clipping, commanded active competition. Although stocks are known to be much exhausted in Germany, we had very little support from that quarter; it would appear the political excitement so many months existing there has not sufficiently subsided to create confidence." '