LONDON WOOL MARKET.

Hawke's Bay Herald, Volume 13, Issue 1027, 2 March 1869, Page 2

LONDON WOOL MARKET.

33, Moorgate-street, London, Dec. 21sfc, 1868. The concluding series of public sales of Colonial wool for this year, which commenced on tho 26th ultimo, has closed this evening. The quantities catalogued were—Australian, 28,299 bales j Victorian, 25.307 bales; Tasmanian, 2,722; Adelaide, 2,803j Swan River, 60: New Zealand, 17,399; Cape, 44,011. These sales opened with a full attendance of the home trade, and a much larger muster of French and other Continental buyers than is usual at this season. The latter gave tho greater support during the earlier sales, ana a more animated state of internal trade may be traced in the spirited competition of the former, especially towards the close. It is estimated that about 40 per cont. has been taken altogether for foreign account. It will appear that, in additions to new importations, about 38,000 bales had been held over iv first and second hands, and have been [now disposed of. In comparing rates now current with those of August-September sales it must bo remembered how very wido was the range of prices during that series, and while for some descriptions at the lowest point then quotations were almost nominal and now show a considerable advance, others again shew no improvement; to generalize as far as possible we should quote a more animated, healthy, and dependable market at about ld. per lb. advance on tho average of August-September. Australians, in fair supply, with about 11,000 bales of old stook, have consisted chiefly of inferior fleece and scoured parcels, the few better lots of fleece wools have had a brisk sale at an advance on Au-gust-September rates,' average to good' have shewn no improvement, very faulty sorts havo recovered from the uncertain market of last sales and given the greatest advance, whilo othor kinds have not shewn much. . „ , , Victorians, two-thirds of which were old stock, have comprised but few lots of the better flocks, with a largo proportion scoured. All washed descriptions shew an average advance of ld. on late rates, good scoured parcels with staple perhaps a little more, lower scoured not selling any better than in August. A poor assortment of Adelaides and Tasmanians have not merited or met with great competition. New Zealands, about 7,000 of which were old stock, have sold with spirit at an advance of *d to lsd. on treasy, and Id, to 2d. ou washed fleece, whilo tho est sooureds with body and staple have shewn even better proportionate prices. Capes, with good Western wools and snow whites in large supply, have elicited good competition at an advance of jd to lsd on most descriptions; about 6,000 bales have been held over for future sale. A retrospect through tho past year is a wholesome lesson, at the samo time that it is in a great measure a subjeot of congratulation; starting ou a long time inherited falling market, with a sickness of trade of now so long standing that despondenoy would almost think it chronic, prices drooped (as we were bound to anticipate in the face or so large a supply) till au almost unanticipated fall in August-September brought us to nearly panic rates for the more faulty and unsaleable descriptions; so heavy a por-centage of depreciation as had then to be submitted to to effect sales which were inevitable by all laws of supply and demand, would be a severe test of the radical soundness of any trade; that the culminating effect of an over production of a raw material of inferior description wrought no more disturbance than did the August-Septomber Sales in this market wo consider a subject for congratulation. The appreciation of cheap purchases on the part of consumers abroad, and a revival of trade generally, has given a more cheerful tone to the last two months of tho year, and, with the exception of about 9000 bales of Cape, &c„ there is but little now of the very large import of the year which is not on tho road to consumption; starting, therefore, with pretty clear books in the central market, all must depend on the state of trado generally for the prospects of dealing with the coming clip, which will probably be a little later than usual. Colonial accounts generally do not point to any modification, for next season at least, in the increase of production, nor to any material amelioration in quality or condition, though many good intentions are there expressed for tho future; perhaps, therefore, even if European trade should show the long looked for recovery, experience may dictate caution, even at present prices current. Fresh arrivals to dato for ensuing sales amount to 9,900 bales, chiefly Capes. JACOMB, SON & Co., "Wool Brokers.