Commercial.

Colonist, Volume IV, Issue 419, 29 October 1861, Page 2

Commercial.

LONDON WOOL REPORT.— August. London, 26th August. The public sales of colonial wool, which commenced 18th ultimo, will finally close to-morrow, 27th instant. Exclusive of about 5000 bales held over from May, the quantities arrived in time for sale were :— 20,078 bales Australian 24,933 ~ Victoria 10,169 „ Tasmania 7,193 „ Adelaide 903 „ Swan River 13,241 „ New Zealand I<■ 8,909 „ Cape of Good Hope Total .. 85,426 „ ' Including to-morrow'a sale, the quantities cataj logued will prove to be about— 20,853 bales Australian 24,084 „ Victoria 9,484 „ Tasmania 6,738 „ Adelaide 1,095 „ Swan River 13,013 „ New Zealand 9,563 „ Cape of Good Hope ■ 84,830 „ colonial '. ; 51 bales German: , : ' " ... 543..,, Spanish and Portugal ' ■ : 176 „ Buenos Ayres 165 „ Russian Merino . 18r „ United States r '/."•■ : 199 „ Sundry . .-■ 1315 bajes foreign. It is assumed that about 5000 bales arrived in time have not been offered, and about a Bimilar quantity has been bought in or withdrawn; forming about 10,000 bales held over for November, in addition to. late arrivals of about 32,000 bales fresh stock. . At the commencement of the series and for the first ten days the attendance of buyers, home and foreign, was very much smaller than customary for. many -years past, and owing to the depressed state of trade and unsatisfactory appearance of foreign affairs a_ general unwillingness to stock, excepting at a cotiside'vable' reduction in prices, was apparent. Prices immediately receded from May rates to an average of lid to 2d per lb: the decline being.largest on illconditioned and faulty wools from the Australian colonies, and least on well-conditioned and stapled flocks thence. The greatfall in value of the English and French clipsbcre with severe effect on. the lower qualities, and it was not until the prospects of a good in-gather-ing of the harvest were more matured by the favorable change in weather, after the issue of our circular of 26th July, and the reduction in the bank rate of interest to 5 per cent, on Ist August, that a gradual rally in prices occurred on such wools'as had been most depressed ; with an accession of fresh buyers, horn* and foreign, a stronger feeling pervaded the market, and the sales are closing with much firmness, but. show a decline from May rates of Id to 1 Jd per lb. for good and well-oonditioned wools, and 2d to 2Jd on inferior or badly-conditioned flocks. Foreign purchases have been larger than was at one time expected, but fall lar short of the amount taken tor export in May. Australian Wools of prime and good quality and condition, have been eagerly competed for;.but a large proportion of this clip has this year arrived in sadly seedy, hurry, and moaty condition, arising probubly from late shearing, and has in consequence Buffered materially in value. From Victoria really prime combing flocks have commanded much attention, and with scoured wools

have perhaps realised nearer to May rates than other descriptions. Tasmanian wools generally have been in worse condition than last year, and the general run of prices on this produce, is fully 4d per lb less than last year for the same flocks. A large bulk of ill-conditioned wool from New Zealand has been disposed of at prices apparently low, but there is still in many flocks so large an admixture of heavy and greasy fleeces in the bales, that it is next to impossible to form an accurate estimate of value. Well-stapled and clean flocks thence, however have commanded attention at satisfactory prices to growers, but not equal to the sanguine colonial expectations of those who consider that the English market must always be in the ascendant. Adelaide and Cape wools in grease havn been in good supply, and have suffered in value pro rata with other wools of low class. There is every probability of November sales totalling 60,000 bales, an unusual quantity for that time of the year, and indicating a large probable increase of imports for next year.