THE WOOL SALES. [From the Mark Lane Express, May 23.]

New Zealand Spectator and Cook's Strait Guardian, Volume V, Issue 333, 7 October 1848, Page 3

THE WOOL SALES. [From the Mark Lane Express, May 23.]

The following particulars have been furnished us by the leading members of the wool trade :— The first Colonial Wool Sales of the present season's clip, which commenced ou the 4th, and concluded on the 19th inst., consisted of 2072 bales Australian ; 3488 Van Diemen's Land ; 5370 Port Phillip ; 2164 South Australian; 2394 Cape ; 59 New Zealand ; 1245 East Indian. — Total 16,791 bales. 471 bales Merino Odessa ; 568 brook-washed ; 155 German ; 987 Egyptian; 813 Beunos Ayres, &c. ; 883 sundry low. — 3877 bales Foreign. Owing to the very unsatisfactory state of affairs on the Continent, and the total derangement of trade consequent thereon, it has been necessaiy to re-sell a large proportion of the purchases made on foreign account in the February sales, whereby the competition of that class of buyers has not only been lost, | but an additional quantity thrown on the market. This circumstance, and more especially the certainty of considerably increased arrivals from the colonies should the sales have been longer delayed, induced the bringing on the present series at the earliest possible period. The attendance of buyers was not so large as usual, and confined almost exclusively for home consumption ; the disturbed state of the Continent preventing the usual foreign buyers from operating, which, combined with the great want of confidence and extreme caution exercised, caused the sales to proceed very heavily, and prevented the usual competition except on desirable wools, which were extremely scarce. Towards the close of the sales, however, there was a little more animation, and some slight improvement in prices owing to an accession of buyers, and a considerable quantity having been withdrawn. The quantity of good colonial wool, of clothing characters, being small and in request, the fall on such has not been more than about Id. per lb., which will apply to lamb's wool ; but on parcels adapted for combing, and on inferior descriptions, Cape, low skins, &c, the reduction must be quoted from 2d. to 3d. per lb., or about equal to the prices in October last.