Markets.

Lyttelton Times, Volume X, Issue 606, 28 August 1858, Page 4

Markets.

LONDON WOOL SALE;

May 15.—1n confirmation of oxir views expressed in the last report the wool sales commenced .on the 29tli April, the total quantity declared for sale consisting of 13,599 bales Australian, 19,405 bales Port Philip, 12,371 bales. Adelaide, 4350 bales New Zealand, 800 bales Swan River, 8016 bales Cape; total 58,541 bales. At the opening sale the attendance of buyers both home and foreign was scarcely an average, and prices opened at a decline of l£d, to 2d. per Ifo. on all descriptions. Biddings continued languid for the first few days and prices were a shade easier, but a disposition to withdraw soon told and prices gradually recovered to the opening decline with more disposition to operate; stimulated to some extent by a speculative feeling, the extreme cheapness of money pointing to wool at present rates as a good investment. Cymplaints from the manufacturing districts that wool is not yet low enough, and that stocks of manufactured goods cannot be moved off at pro rata prices with the raw material, has produced a considerable effect on the present sales, as the absence of competition from the smaller manufacturers is much felt, and their depression reacts on the dealers who, although buying freely, act with extreme caution. Operations - for the Continent during the last 10 days have been on a large scale, particularly for choice Sydneys (one mark, X E in diamond, bringing 2s. sd. to 2s. 7Jd.), and Adelaide wools in grease. The sales are now progressing with spirit, but all buyers are cautious and prefer waiting for July sales, when probably prices may rule in their favour.

The. Money Market.—The ' Home News,' of the 25th May, says—The demand for money has been moderate; and although the terms out of doors are still £ per cent, under the Bank minimum, the applications at the latter establishment have been rather more numerous. These can only arise from the requirements of customers; since, pending the existing political difficulty, great camion is exercised in extend-, ing engagements. Respecting the position of the India and China trade, it is stated thnt the 4th Juno will completely exhaust the tkmbii'ul liabilities which have been incurred through the purchases and the depreciation of produce. Business paper of th? second and third class i.s

now more freely negotiated, but dates beyond three or four months are as yet as mucii as possible avoided. The current rates are, lor good bills, short dates, 2J per cerit.;. for longer periods, 4to 5 per cent. The Colonial Government securities are quoted in the ' Morning Herald,' of the 25th May—Closing prices: M. b. Wales Government, 1014 to 102J, closing price, South Australian Government, 6 per cent, ditto, 109 to 111; Victoria Government, 6 per cent, ditto, 109 to 111. ' SYDNEY MARKETS. . Aueust 7.—No alteration is visible m tie per ton. 1 MELBOURNE. To -day has been a perfect blank in the import market for every description of goods. By auction the sales generally have been unimportant. Messrs Easey and Co. sold the remainder of some parcels of Mauritius sugar. Middling to cood brown brought £35 10s. to £38 per ton; English refined sugar, 6-|d. per lb.; Souchong tea in chests, £8 15s. each; Scotch oats, ss. 2d. to ss. 3d. per bushel; 2,000 boxes candles realised the following rates :—Ogleby's patent sperm, Is. 34-d. to Is. 3|d,; Belmont's No. 1, Is. 2J-d. to ls.2fd.; Hales's, Is. 2£d.; patent sperm, Is. 3£-d.; pure sperm, 2s. Id.; Bougie's, Is. 2d. per lb. — Argus, August 7. HOBART TOWN. August 2.—Hour, (best) £18 to £20 per ton; wheat",'7s. 6d. to 7s. 9d. per bushel; oats, 65., nominal; barley, Cape, 6s. 6d.; English, Bs.; hay, loose, £6 to £7 per ton, pressed, £8 10s.; potatoes, £8 to £9 per ton; cheese, lOd. to Is. per Tt3.; onions, £20 to £25 per ton.