Commercial.

Colonist, Issue 88, 24 August 1858, Page 2

Commercial.

LONDON WOOL REPORT—May 15. (Home News.) In confirmation of our views expressed in the last report, the wool sales commenced on the 29th of April, the total quantity declared for sale consisting of 13,599 bales Australian, 19,405 bales Port Phillip, 12,371, bales Adelaide, 4350, bales New Zealand, SOO "bales Swan River, 8016 bales Cape ; total, 58,541 bales. At the opening sale the attendance of buyers both homo and foreign was scarcely an average, and pi-ices opened ut a decline of lsd to 2d per lb. 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. Complaints from the manufacturing districts that wool is not yet low enough, and that stocks of manu-

factursd goods cannot be moved off nipro rat a prices ..with the raw material, have produced a considerable effect on the present sales, as the absence of competi tion from the smaller manufacturers is much felfc, and their depression mwts on the dealers who, although buying freely, act with extreme caution. Operations for the Continent during the last ten days have been on a large, scale, particularly for choice Sydneys (one mark. XE in diamond, bringing 2s. sd. to 2s. 7£d.) 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.

From Messrs.. Buxton and Metcnlfe's circular, dated London, May 27, we extract the following:— Since the opening of the wool sales there has been very little variation in prices—the fall on Austntlian is 2d. to 3d. per lb. since the February sales, and Gd. to 7d. on last May prices, the inferior and ill-conditioned parcels suffering the most, and of which we are sorry to say the greater part of the present importations consist. At present prices we find willing buyers for consumption, but there is nothing doing on speculation. In fact the prospects are not such as to induce speculators to come forward, nor even for manufacturers or dealers to lay in much stock. The continental buyers have not taken their usual quantity, and it is generally understood that both French and German wools will be to be had very cheap at the ensuing clip.

The Mills.—Mr. Saunder's reports the price of fine flour at jg2o.