THE LONDON WOOL MARKET.

Press, Volume XIV, Issue 1857, 29 March 1869, Page 2

THE LONDON WOOL MARKET.

From the circular of *Meesre Browne and Eagle, warehousekeepere, it appears that the imports of oolonial wool into Great Britain from all ports Bhowed an aggregate increase in 1868 over 1867 of 91,857 bales. "In the colonial wool trado for the past year," remark Meßsrs Wilians, Overbury, and Go., " two facts deserve especial notice. On the one hand, it has been conclusively shown that there exists a demand capable of absorbing, on certain terms, the present enormous supply ; while, on the other hand, it is equally evident that, in order to dispose of the quantity, it has been necessary to submit to prices greatly beneath the average of the past fifteen or twenty yeare, r and which, during the last two series of sales,'have fallen below the very depressed rates current in November—December, 1867. "■• . With respect to the future, everything will depend upon the limitation of production. It is asserted that those stations in Australia farthest from the coast, and in the- driest and poorest districts, cannot he made to pay at any thing like present prices, and that they must sooner or later be abandoned. If this course be extensively adopted, it follows that the rate of increase to which we have become accustomed, will be I seriously checked, and in this case a gradual recovery in values may be confidently looked for." The first series of London sales for 1869 will probably commence on the 25th February. The market is quiet, quotations without change. The Liverpool wool sales opened last Tuesday, the 26th. About 12,000 bales of East India wool will be offered. Mr Helmuth Schwartze's Wool Price Current, dated London, January 28, is as follows :— , 1* The arrivals, for the. first series of Loudon colonial wool sales, -which will probably commence on either the 18th or 25th February, comprise up to date:—Sydney, 5020 bales j Port Philip, 27,786 do; Adelaide, 5933 do ; Van Dieman'a Land, 387 do; New Zealand, 1525 do; Cape, 12,978 doj total, 53,629 bales. " There is no change in tho tone of the market, which, to all appearance, continues firm, though hardly any transactions take place to test it. Manufacturers are well supplied, but the rate of consumption is large, and by the time the sales commence, a large inquiry, especially for the better class of Port Phillip wool, is likely to spring up. There are still about 15,000 bales in the market, which were held over from previous sales, and as the fresb shipments from Australia are unusually early and large, the quantity to be offered in the approaching series will probably exceed its usual proportion. Prices are expected to rule th,e same as in November. A plan is contemplated of making five series instead of four, in order to spread the quantities more evenly over the year, an innovation that ia likely to meet with some opposition on. the part of the buyers; nothing definite, however, has yet been settled on the point; but, whatever the arrangement that may be made, the great bulk of the clip will again have to be sold in the summer months, and as the supply then is nearly always in excess of the demand, only very moderate expectations must be formed of the result."