COMMERCIAL.

Lyttelton Times, Volume XXV, Issue 1695, 23 May 1866, Page 2

COMMERCIAL.

Messrs. Miles, Brothers, and Co.'s Wool Eeport on the March series of the London Colonial wool sales is as follows:

March 26,1866, The first public sales for tho year commenced on the lsf inst., and terminated this daj. The aggregate of wool for offer during the series was 86,284 bales, comprising the following, m.:— 6528 New South Wales and Queensland, 41218 Victorian, 128 Tasmanian, 11,150 South Australian, 786 West Australian, 6 0 New Zealand, 22,944 Cape of Good Hope; 86,264 bales. A larger attendance of the trade than ever before witnessed gave great spirit to the proceedings, and the eager biddings, chiefly for home account, proved how exhausted the stocks of our dealers and manufacturers had become. An advance was at once apparent over November rates; Australian wool generally being quoted at from Id to ljd per lb. higher, while long stapled flocks commanded extreme rates.

Sales at opening prices proceeded very steadily for several days. It was observed that the finest descriptions of Port Phillip wool, which buyers on French account had hitherto pretty much monopolised, were being taken to a considerable extent for home consumption; the foreign buyers all- the while, under the impression that prices would give way as s #n as the immediate necessities of our home trade were supplied, doing little more than looking on. This, to some slight extent, proved to be the case. Prices were pronounced a shade easier, when, about two-thirds of the whole quan ity of wool for offer being takeD, buyers on foreign account withheld no longer, but began (o compete freely, which at once checkenall symptoms of ease. Ihe advance was from that moment maintained, and the series closed this day with great firmness in prices, and with an average of improvement fully equal to thatdeclared at the opening. Sydney and Queensland flocks were not quite equal in condition to those of previous seasons, and though the quantity offered was small, and this year's clip will probably fall short, the improvement in prices was not felt, except for the middling kinds, which realised about Id per lb. more than in November,

Port Phillip Flocks.—These were much commended, and their improved condition and quality admitted on all hands. They were eagerly bid for, and taken at an advance of fully 2d per lb;; middling and greasy kinds going at about Id per lb. higher. New Zealand and Tasmanian wools shared in the general' advance, but the small quantity offered was merely the remains of last year's clip, •

South Australian Wool.—As expected the long drought told upon quality as will as length of staple. Best flocks, however, showed an advance of aboutjd per lb. over November rates.

Swan fiiver wool, though not equal in the essentials of quality, length of staple, and condition, to that of last year, yet, meeting with a good demand and lively market, sold at full prices. Cape Flocks.—Scoured fleece, superior and very well got up, showed an advance of Id to lsa per lb., good fleece about Id, and lower kinds about id per lb. higher. In conclusion we would direct attention to a point more than usually noticeable, and that is the great importance of" condition." How much a really good condition of wool is appreciated, and how willingly a high price is paid for improved washing and good length of staple, the Port Phillip flocks sold at these sales prove in a remarkable degree. Good greasy wool, long and light, was also in active demand at increased prices. We do not expect so good an assortment at the May sales, as, owing to the drought much defective wool will probably be brought forward, and for this reason New Zealand wool will come seasonably to hand, for, being taken by the saihe manufacturers as good Port Phillip wool, and both kinds going into consumption together, we may fairly calculate that all good long stapled well washed flocks from New Zealand arriving for our May sales will come to a favourable market.

N.8.-Bome very superior fleece and sooured fetched higher rates, but being eitra are not quoted. Messrs. Dalgety and Co.'s Wool Circular is as follows : Memng to our circular of 6th inat., reporting on the opening of the present sales of colonial wool, we are now able to continue our report to the' close. Tho sales commenced on the Ist inat,, and terminate this evening; the quantities sold being as follows, viz, : Australian, 7420 bales; Victorian, 44,440; South Australian, 11,412 j Tasraanian, 202; New Zealand, 638; Swan Kiver, 817; Cape Good Hope, 20,470; total, 85.327. The advance on D»cerdber rates of Id to l' 2 d per lb., quoted on 6th inst,, has been, we are happy to advise, t' tt iH y supported throughout the sales, the attendance of buyers having been uui formly very large, andthe competition animated. Foreign buyers were reluctant to pay the opening rata,., but have latterly bought freelv, thereby supporting the advance, Our manufnrtuwß continue actively employed, and unless political disturbances arise to paralyze

commorcc, wo look forward to satiswotory prices boing obtained in May sales for all sound Btaplotti and well conditioned wools. , - f Port?-. of western S'rbtyk,'|ife in manyJJnstAr/etis' superior in! coui ' ition at((d fetapfeilo pifAyiouej jearsj .jiind ''extremetiios. i^anjiblipsjjitownm4onorthern" N district.l(WO fiirjta !andsioavy!|m condition, >luch v Vi.r-vr, '"'Adolaido wools generally, tioro ofidonce of tho drought, being too frequently short and tender in staple and heavy in yolk and oarth. Sydney wools woro principally of last year's growth, fow new wools having arrived in tiino lor these sates.

New Zoaland and Tasmanian; thoso sold woro principally scoured and skin, nono of tho now clip Wing arrived for these sales. Swan river wool was well competed for, although not considered equal to last year's in condition and staple.

Oamaru.—The Times, of May 17, reports : Sinco our last, business matters havo experienced no appreciable change, but tho genoral tono of trado is steady, with an improving tendoncy, ottering an agreeable contrast to tho corresponding period of last year. Considorablo quantitios of goods continue 'to find thoir way up-country, an increasing trade being driven with some inland places which formerly derived their chief supplies from Dunedin direct. Tho better state of our roads at present gives the advantage to this place, mileage being as nearly as possible equal. Tho sale of Messrs. Wilkins and Thompson's Wanaka Station to Messrs. Holmes and Campbell, through Cargills and \f'Lean, is reported, at a figure not yet made public. Tho property consists of 170,000 acres, with 30,000 sheep and 1000 head of cattle. Messrs. Royse and Co. report on the stock market as follows :

Business during the month has continued active, especially in store sheep, and many lots have changed owners at an advance on last month's rates. However, as our largest buyers have now nearly completed their purchases for tho season, and holders not anxious to sell unless at a still further advance, we may consider the season for investment ia this description of- sfbek as nearly drawing to a close. The market for fat sheep has considerably improved in both provinces, and as the number of really fat wedderg is less than cxpect«d, holders are firm for an advahee. Store cattle have increased in value and demand more than any other description of stock in either province. Fat cattle have shared in the advance, and getting positively scarce, must further rise. A gratifying proof" of ,the increased prosperity of this province" is evinced in the number of sheep imported from Canterbury during the past two months, and till date 62,000 have already crossed the Waitaki, and we have 14,000 now on the way; we; anticipate before the season closes that Otago will be enriched with close on 90,000, principally ewes and mixed mixed lambs, from Canterbury. Cattle, fat—On the station in Otago we quote at 45s to 47s 6dper 100lbs; in Canterbury, 52s 6d to 655. Stores, mixed, £8 to £9 per head, few offering. We have sold 180 head from Benmore at the former rate—calves under three months given in. Weddera, fat—We quote at 3|d to 4a per lb on the station. About 1200 have been purchased for Wakatipu from Messrs. Julius at 16s 6dnett. For stores there is little demand yet, but we have reason to look for an immediate improvement in this description of stock. Ewes.—2,4 and 6-tooth, are not quite so much enquired for this month, and are saleable only at last quotations, 17s 6d to 18s. Since our last we have sold 4400 at these rates, and 1500 2 and 4-tooth at 19s. 8-tooth are readily saleable at 12s, at which price we have sold 7600, and 1800 broken mouths at 7s 6d each, all for delivery south side of the Waitaki. Lambs—There are very few offering, and our buyers are nearly supplied. Since our last, we have sold 6200 at 20s per pair, delivered in Timaru, and resold 1000 at 23a 6d, and 4000 at 24s fid, delivered here. Station properties are increasing in value, and inquiries for investment increased. Messrs. Borton and M'Master have sold 160,000 acres of their Manitoto country, with. 17,500 sheep, all improvements, &c., given in for £20,000 to Mr. Sanders. We have several first-class stations in Canterbury province, for private rale.

FlICEB CoBBSNT 01 COLOHUIi WOOM, Description, New 8onth New Zea- p„ rf ™,.ii.„ Wales land. p °rt Phillip. &nd Queensland. Per lb. Per lb. Pet lb. Scoured fine... jfjne ■ clean 2 0to2 3 2 3to3 0 2 0to2 5 Uqw &Bhed 1 9„2 22 1 (1 2 62 2„2 6 1 3„1 8 1 6„1 7 1 4„1 7 0 9„1 3 0 10 „ 1 2 0 9„1 0