COLONIAL WOOL SALES.

Press, Volume XII, Issue 1576, 25 November 1867, Page 2

COLONIAL WOOL SALES.

f_From the " Home News," October 2.] The third series of colonial wool sales for the year commenced on August 15, and terminated on September 21. The quantity catalogued was 143,030 bales, the Hrtivals since the previous sales being 126.846 bales, the excess of 16,184 bales arising from Sydney and Port Phillips wools held over from the May aud June sales. Mersrs Dutton and Ferry in their circular say the attendance of home buyers was good, but France and other parts of the Coniinent were not so well represented as at the last two series. Notwithstanding the extreme cheapness of money, but little, if any, improvement had taken place in the Btate of the woollen trade in the short interval (considering the large quantity then disposed of) elapsed since the la*t, sale; fair spirit, however, was shown at the opening, and the prices realised were equal to the average rates paid in theMayand June series. Although at times the somewhat unsettled weathercaused Borne apprehension as to the result of tlie harvest, thus increasing the existing depression, the quotations for all good regular flocks j have been well maintained throughout, but j inferior and faulty wools, of which there has been a large proportion, have sold very irregularly, and on the whole these descriptions have ruled in fnyour of buyers. The Bales progressed with little or no variation for the first three weeks, when, with an increased attendance of buyers, more animation was shown in the bidding*, particularly for t! c . fine sort*, both of combing and clothing ; and ~a* the prospects for the harvest by t is time looked favourable, the market, assumed rather a firmer tone, and continued without tdtera\tion until the close. Sydney and Port Phillip were in large supply, but presented only a -mall selection of seally choice flock*. These latter excited keen competition and

extreme rates were realised—they however mainly consisted of strong - haired wools, adapted for combing and faulty kinds. For the hitter descriptions there was a fair demand at fully former rates, but. tlie hurry, m-iity, and ct-edy sorts were much n»-_ ected. being heavy of sale, even at a reduction of Id p-r Ib <-ompared with last sales. Of s.-oured there has been an abundant supply, and the better classes participated in the active competition which took place, for the fleece wools, late rates being fully maintained, whilst tbe demand for tbe inferior iron very sluggish, and they sold Id. at'd ljd per lb lower than in May. Van Die men's Land were limited in quantity, and principally consisted of medium flocks, evincing no improvement in quality and condition, and former rates were scarcely realised. Adelaide, as indicated by the prices, were of poor breed and wasting condition, the greasy being principally of the red earthy and mushy descriptions, and the scoured badly got up and seedy. New Zealand liave formed a leading feature in ihe series, being nearly mie third of the quantity offered ; they comprised some good combing flocks, both washed and in the grease. They found ready purchasers, but prices show a reduction of about Id per lb compared with last sales. Cape comprised a small selection from the Western district, for which MayJune prices were scarcely obtained. Of Algoa Bay the comparatively small quantity of well-grown shafty flocks sold readily at rather higher prices, as likewise the scoured, of which there was a good choice, and they were taken freely for exportation, but the tmort faulty kinns were much less competed for, and lower prices had to be submitted to. Lambs of good quality, and free from defect, have been very scarce compared with former .-cries at this penod, and they hare commanded full tales On the other hand. I'aniiv descriptions have sold lower We esiiumie "he quantity taken for export at about 60,000 bale.-. Inasmuch as 440,195 hales hare passed the hammer this year, or within 15,617 bales of the entire import of 1866, and with little if any recourse to speculative purchases, it is reasonable to presume that with a less depressed state of trade more remunerative prices would be obtained by importers ; on the other hand, taking into consideration the rapid progress the growth of wool has made of late in the colonies and Buenos Ayres (which latter comes directly into competition with the Cape), it is rendered probable that prices of the raw material (particularly of medium and low qualities), will in future rest on a lower basis.