THE COLONIAL WOOL SALES.

Hawke's Bay Herald, Volume 13, Issue 1075, 17 August 1869, Page 2

THE COLONIAL WOOL SALES.

(Helmuth Sehwartze.) The second series of London sales of Colonial wool, which commenced on 6th May, closes on 19th June. The course of this series has been an uneven one ; starting with a decline of about Id from the average prices of March, the sales after about a few day's duration exhibited the downward tendenoy of the market in a more marked degree ; 2d, and even 3d, less than ia March were paid for Australian washed oombing wools. The greasy sorts suffered in proportion, and a fall of Id to 2d — according to quality and condition—marked the sale of the Cape descriptions, for about a fortnight great dulness and irregularity prevailed, the buyers themselves feeling evidently uneasy under a decline as unexpected as material, and which, as it was showing itself at the outset of what for both past and future may prove the heaviest series on record, naturally | threatened still greater weakness for the further course of sales. To whatever extent, however, these fears may have been entertained, the result has proved them groundless, for when about half the available quantity had been disposed of, a re-action in tone set in, which, aided by an increased attendance of buyers, brought the prices slowly and gradually back to their starting point. Ia this position the market has continued — not always evenly firm — for the last eight or ten days, with a fair amount of competition and spirit, but without any appreciable tendency to a further rise.

The Melbourne Herald, of the 3rd instant, says :•— We are glad to learn that by a private telegram the good news of a recovery, in the price of wool is fully confirmed. The private information is in these words :—" Wool sales closed. Opening prices about recovered."