MONETARY AND COMMERCIAL. WOOL MARKET.

Daily Southern Cross, Volume XXII, Issue 2891, 31 October 1866, Page 4

MONETARY AND COMMERCIAL.

WOOL MARKET.

A UCKLAND. JLlily Southern Cboss offioe, Tuesday evening. The Cuttoma receipts to-day amounted to £522 8*. 8.1. Mr. L. W. Eaton sold to-day, on Custom-house-street, 25,000 feet of sawn timber, at from 6s. 9d. to 8a. 6d. Mr. D. J. O'Keeffe held a sale to-day, by order of the trustee, of the whole a took in-trade of Mr. E. H. Stevenson, saddler, Queen-street. There was a very good attendance and satisfactory prices were realized.

Mr. Helmuth Schwartze writes, under date London, August 20 : — "The thud series of this year's London public sales of colonial wool commenced on the 16th insfc., and up to date the catalogues have comprised : — 3,669 bales Sydney, 2,456 bales Port Phillip, 2,607 bales Van Diemen's Land, 1,215 bales Adelaide, 5,124 bales New Zealand, 6 bales dyed wool, 2,358 bales Cape; total, 17,435 bales. The total ai rivals in time consist of: — 39,683 bale* Sydney, 16,062 bales Port Phillip, 6,958 bales Adelaide, 456 bales Swan River, 41,386 bales New Zealand, 8,919 bales Van Diemen's Lund, 19,875 bales Cape; total, 183,339 bales Although from the Continent there is not the usual number of buyers, the attendance is good, with fair competition, and both Australian and Cape wools may be quoted £d., and in some irstances Id. per lb., above the closing rates of the May- June series, with the exception of greasy wools, whieh are scarcely any dearer. As at present arranged, the colonial wool sales will close on the 26 th September, On the 16th instant the Bank rate of discount was reduced from 10 per cent, to 8 per cent. The third series of public sales of East India wools opened at Liverpool on the 31st ult., and concluded on the 11th inst. The catalogues comprised about 24,000 bales, of which 1,670 bales were withdrawn. There was a fair attendance of home buyer*, but not the usual number of foreigners. Good carding white and yellow wools, of which the supply is still inadequate to the requirements of the trade, weie actively competed for, and prices were in mofct cases as high as in May. Middling whites and yellows opened at a reduction of Id. to 1£-1. per lb., but declined towards the close of the series to l|d. to 2d. per lb. Washy greys and yellows were fully 2d. per lb. down. The following are the prices at present ruling— for good Australian clothing. Is. 9d. to 2s. 5d. per lb. ; ditto combing, Is. 9£d. to 2s. 5d. per lb.; ditto greasy, Is, to Is. 4|d. per lb.; Cape, Is. 6d. to Is. lOd. per lb.; medium Cape, Is. 3d. to Is. 6id. perlb.: good creasy Cape, 9d. to lOd. per lb."

Messrs. Edenburough and Co., wool brokers, London, writes on the 24th August iu the following terms : — " I he third series of colonial wool sales for 1866 opened on the 16th instant. The new arrivals in time for sale comprised:— New South Wales and Qmeusland, 39,683 bales; Victoria, 16 062 bales; Tasmania, 8 919 bales; South Australia, 6,958 bales; West Austra'ia.456 bales; NewZealand, 41.386 bales; Cape of Good fiope, 19,875 bales— in all 133 339 bales ; and with what was held over from May, we may expect about 140,000 bales will be catalogued in the course of the sales, which terminate on the 26th September. Fortunately for importers, these sales opened under very different aus pices from the last ; the deoidedly more jmoino state of affairs on the Continent, coupled with the fall in the rate of (Usoount and the evident tendency to a still easier money market, having come jutt in time to save them from the ohanoe of yet lower prices than in May. As it is, trade has yet far from recovered the severe strain of the last three months, but everyone is inclined now to look more hopefully to the future ; and as the supplies of Australian wool yet to arrive in 1866 are but very small, con'umers and dealers are disposed to go fairly into stock, on the presumption of an early revival iu the demand for goods. Th« result up to the present has been a spirited competition, in which foreign buyers within the last few days have fairly joined, though at the opening they appeared rather backward in buying, and we quote prices as follow : —Port Phillips, whioh are in very short supply, and of which no arrivals of any importance cau take place till next year, are 2J. per lb. dearer for washed wools of good quality. Scoured, which were very much depressed last time, are 2d. to 3d. dearer ; and greasy £d. to Id. per lb. Sydney has improved Id. per lb.; and good Queensland wools, free from burr aud seed, are even Id. and l£d. dearer. Tasmanian sells well at full rates. New Zealand : There is a good demand for superior 'sooured and fieeoe, at rather high values ; but greasy, of whioh there is a very Urge quantity, can be bought almost on as good terms as in May. Adelaides offer but an indifferent ■election, and command about last tale's ratefe to Id. advance. Capes are in good supply, especially scoured snow-white?, which, with washed fleece, are £d. to Id. dearer. The only considerable lot of greasy brought forward was of but very middling quality, and realised full prices, namely, 9d. to 9^1. per lb. As a rule (with the exception, perhaps, of Gape wools), scoured descriptions have risen most ; and lambswool from all the colonies has also been in great request, at an advance of 2d. per lb. With regard to future prospects, , we think things promise well for shipments from the colonies, as it is fair to to presume that before next spring the effects of the late panic will have had time to work off, and the supplies whioh arrive in time for the FebruaryMarch sales (especially Port Phillip wools) will come to a very bare market, and probably realise rates very satisfactory to the growers. In Antwerp, sales of River Plate wools were held from the 31st July to the 9th August, but only about 22,000 bales were brought forward, matters there being yet unsettled, and the importers feeling that the demand could not take off any larger quantity without a serious effect on prices. The sales opened at a decline of about 5 to 10 centimes on May, but, as they progressed, gradually stiffened, and closed in most cases fully as dear as at that period, almost the whole of the quantity offered finding buyers. At Liverpool, the E.I. sales, which took plaoe from the 31st July to the 11th August, when Bank rate was still 10 per cent., showed a most Berioiis decline, good wool falling 10 to 20, and inferior, mixed, and* unwashed as much as 30 to 40 per cent. The sundry sales there on the 14th to the 17th instant also -went off but flatly. The bulk of the River Plate wools were withdrawn, but what wai sold went off very cheap. Some really good first Mestiza and merino Monte Videos made 7£d. to 84d. A few good Cordovas realised 11 Jd., bub the bulk was withdrawn, only lOd. to lid, being bid. Limas and Chilian chiefly sold at moderate prices. Privately, a good trade has been done in ail good combing classes of low wools."