WOOL MARKET.

Southland Times, Issue 1051, 4 November 1868, Page 2

WOOL MARKET.

The following wools were offered in public sales up to date:— 3o,469 bales Fort Philip, 35,137 bales Sydney, 8,778 bales South Australian, 29,071 bales Hew Zealand, 6,707 bales Van Diemen's land, 6 bales Swan River, 16,702 bales ] Cape, and 295 bales sundries. Total, 127,165 bales. About 16,000 bales were withdrawn. 93,000 bales remain for disposal. Sales become flatter as they proceed. There is no increase in foreign competition, and home buyers becoming supplied, there is little hope of improvement. Only about half the wool armed at these sales haying been sold, it is probable that the 93,000 bales awaiting disposal will find a still duller market. It is feared that the number of parcels withdrawn, will spoil the prospects of the November sales. 'Xhe present fall in prices is fully 2d to 3d below the closing rates of the June series. The ' Daily Times,' 2nd November, reports :— A steady business for general requirements has been doing all the week, but nothing beyond. There is not at present much life in the import markets, and the trade doing for extra-provincial wants has been limited. Some improvement will no doubt be felt after the lapse of two or three days. In the flour and grain market transactions have been devoid of interest. Provincial and Californian flour have been moving in email parcels, at our last quotations of £15 10s and £16 10s respectively. On the whole the aspect of breadstuff's is firmer, but no disposition to increased trade is perceivable. "Wheats are withont attention. Provincial is quoted as worth 6s 3d ; the cargo of the Prospector, from Chili, is reported as still in the importers' hands. Oats stand at 2s 6d, with no demand except for town requirements. Barley at 4s 3d, with litttle offering. In teas and sugars a moderate business has been going iorward : the transactions in teas will now, however, be checked in consequence of the arrival of the Sampan, from Foo-ciiow-foo, with a full cargo. We note sales yesterday of 18 chests, 42 halves, and 200 boxes of good ordinary congous of the old stock at welleuetaiued rates. The values of sugars continue yery firm and small parcels of yellow and white crystals are eagerly taken up. Sales of one or two parcels of these descriptions taking place to-day Bhow prices in advance of the last rates by public sale. All the liquids keep very dull, none of the items in wines and spirits selling, except for the merest current wants. Seers have been placed rather more freely, some fair-sized parcels

. . . — - &f Arrol's bottled ales being quitted at ldW.rato9 5 and stouts, both by auction and privately, Ending buyers to a moderate extent, prices, however, as for ales, being conceded. In provisions, the transactions have been small ; the demand for j baoon and hams is still decreasing, and the only j other important item, viz., English cheese, still fafis to command a remunerative price. With the colonial goods the reverse is, however, the case at present, good butter and cheese from the Northern Provinces being scarce, land in demand at improved rates. Hemp good 9 and salt are coming forward too freely, S iles of bags have heen made, but only in trifling lots. The " Canterbury Pres3 " of the 31st October* reports : — The month just closed has heen particularly dull, the spring not appearing to have brought much improvement. The news of the fall in the ' price of wool in the London market has added to a very general feeling of uneasiness which is gradually spreading through commercial circles, so that payments up to the preaent have been fairly, or we may say well made ; but "credit is now given by the importers with a very chary hand excepting to undoubted marks. The only shipping arrival to report is the Hydaspes ; she brings a large assorted cargo of merchandise for this port. Money waiting for investment is plentiful. Securities being now very narrowly scrutinised before accptance, discount is easy for good paper at under sixty -five days, 7 per cent, , , ninety -five days, 8 per "cent. ; 125 days, 9 per' cent. Exchange on London remain, unchanged, Bixty days, 1 per cent. ; thirty days, H per cent. ; sight, 2i per cent. Our prospects for the coming harvest are very Fair, though at present, the market for breadstuffs is somewhat depressed; wheat has gradually declined during the month from 6s 3d to 5s 6d, hut a slightly better feeling has existed during the last few days ; flour has recedert considerable, and is now worth about £15 10s to £16 ; oats, a slight reaction has taken place, and 2s 3d is now with difficulty obtained. Barley has gradually improved, and is now very firm at 5s 3d. Teas are moderately well held, but prices are somewhat easier on account of the depression in trade. Sugars are in steady request, hut stocks are Bufficientlv to last to the arrival of the next season's fcrop. Crushed loaf is active, being held lightly ; but yellows are not so firm. Tobacco is somewhat brisker, particularly twist, for which 4s 3d to 4s 6d is asked. The price of woolpacks for the ensuing season has not yet been fixed. Corn sacks sell very well. Spirits continue to receive a reasonable amount of attention, but prices are on the decline. The "West Coast Times and Observer" of the 26th October, reports : — The very large amount of cargo which has been landed in the port during the jias't week has not occasioned such a material alteration of prices as might have been expected, the fact of the matter being that the cargoes were required to fill up stocks, upon which ;there had been a long drain. In some articles a reduction was submitted to ; but we understand that a heavy parcel would not have been sold to arrive at the same figure. Flour, although sold to arrive at a much reduced figure to that quoted in our last, cannot present importers with a less figure than £34 10s. Of course flour coming to hand per next arrivals can be purchased at a lower price — that is, to arrive. Horse feed still maintains last week's quotations, and may be said to be a trifle harder. Oats still command 4s to 4s 3d per buehel. There can be no reduction noticed in the price of bran, and chaff has not suffered in price. The ' Argus ' of the 28th October contains the following commercial article : — The import markets to-day have not been characterised by much activity, and business in general merchandise is very slow indeed. The unusual circumstance of the two English mails — via Panama and Suez — being telegraphed on one and the same day, has given rise to a good deal of comment. The arrival of the former at Sydney puts us in possession of dates from California to sth September. Flour was quoted at 4idoL to s£doL, according to Brand, per 20Clb ; and wheat 1.65d01. per 1001 b. The Ashburton had arrived from Sydney. Advices from Valparaiso reach to the Ist September. Flour was quoted firm at 6.25d01. in Tome, and 7.25d01. in Valparaiso. These accounts, though so very meagre, are not considered unsatisfactory ; but they have not in any way stimulated our markets for breadstuffs, business in flour having been confined to small sales for trade purposes, at £13 10s for second, and £14 for best brands. At auction, about a hundred tons were disposed of at £13 to £13 103, since which the trade have refused to operate at within 5s of the quotations first named. The sale of the Cowper's cargo of 1,500 tons of Californian wheat, effected in Melbourne to a Sydney firm, was not generally known, as that fact must doubtless have imparted more firmness to the market, fears having been entertained that the cargo in question would be sent round here. In feeding grains we note the sale of a small parcel of oats under the hammer, at 3s sd. Maize iB very firm at 3s lOd. The entire cargo of the Bloomfield, comprising about 6,400 bushels, was sold to arrive, at a very full figure, say a trifling concession on the rate already referred to. A line of about 1,000 bushels malting barley was cleared off at 6s 7d. Sales of candles are reported at 10|d for faulty lots. Some 2,000 bags sugar were quitted this forenoon; grey crystals realised £36 10s ; yellow brewing crystals brought £34 ; yellow counters sold at £31 155. to £32 30s; browns brought £28 10s ; and rations, low to good, were quitted at £21 5s to £34 ss. A shipment of colza oil in drums was placed at 4s 7£d. In oilmen's stores we note sales of jar salt, lib English jams, &c, at very full prices. The offer of Patna rice under the hammer resulted in the sale of forty tons at £20 10s. There has been a good demand for common to fine congou teas, and numerous transactions are said to be pending. In timber, we note sale 3of hickory, ash, oak, &c, for coachbuilders' use, and flooring boards, per Warrior. In liquids the only sale reported is that of a parcel of Otard's bulk brandy, pale and dark, at 63 3d., effected at auction. Better rates are demanded for Hennessy's case ; sellers yesterday at 25s 6d now require 265.