Markets.

Lyttelton Times, Volume XI, Issue 656, 19 February 1859, Page 4

Markets.

"Thi'f ing* the" week there have been several smctioti

•^fialcs in Christchurch. -On Tuesday Mr. Thomson jheld n stile >«f ICauri timber somewhat damaged. 'The^cbmpetltion was trot brisk, and after six or • eight lots -were sold at 265. andi}7s. the .100 feet, the "remainder Avas withdrawn, i

On Wednesday Sir. yLongderi*s sale of sheepstation and sto<sk 'did not come off, the rim and sheep having been '"disposed of privately for 40s. a-hoad. -Mr.fXongden then offered seven plots of town/lnnd in KHmore-trtreet arid Craniuer-square, /©riewith double frontage was knocked down.at ,£30,, "lieing at the rate t)f "£9OO an acre; the second went] •^t the upset prieey^2s, or £750 per acre. Three •.similar lots were not. purchased. A sixth, of smaller size, went for'*3o,"or rather more than £1200 the, •acre, and the seventh, of like size; with a house! let at 12s. perf weeks; fetched £80. ; On Thursday* ;Mrl Thomson sold six quarter-acre i 'sections itfVWonsester and Montreal streets. Two ■ with double frontages brought £95 each. One, with;. n house let for £6fr a-year, brought £290. The resti "brought £80-each. Four qr-acresectionsinCashel] •and Montreal streets were.also offered; one fetched* £95, auother ££5, and the remainder were -with- 1 drawn. I

In Lyttelton^eyeral qr.-acre sections 'in :Dampier's Bay, the''property of Mr. Kaye, were-sold by sAlriParkinsorr.^br £120 and JEI3O each.

"'London Wool Report.—Nov. V&, „ '(From the • Home News.') , . Since the close of last sales and prior to the com-; wiencement of the present, a considerable quantity --"of wool changed hands at an average profit of ljd ■ to 2£dfa* which advance.the dealers both in London ...and in the North met the market freely. ' 'The:'last'.sales of the season commenced on the 3th instant, the arrivals to date consisting of 13,634 ■bales Australian, 5820 bales Port Philip, 1322 bales Adelaide, 262 bales Van Diemen's Land, .4928 bales New Zealand, 20,328 bales Cape; total, 46,294; and "about 3000 bales held over and in seoorid'hands.

*" The first sale was attendedby a larger number of "home buyers than iwe-ever»reeoHect. *• Of Continental buyers.'thererwas^a fair attendance, however, but not an>average. . ' The sales openednfflth considerable spirit at an ad • " vance of full 2d.;00fnf the closing rates of August—

full stapled woolscausing most competition; from the, * cheaper.-portiohs v6f last sales a few well selected1; - lots in second' hands brought 3|d to 4sd advance.; ■ "Up to date?2o,ooo bales have passed the hammer, all 1 -being'tsken with much spirit at the opening rates. JGtany opinions exist as to the future;, the large -•'sales of the year, and expected deficiency -of ■. Port Pliilip. and Van Diemen's Land wool have caused' much anxiety as to the probability of _ the highest r.ates of last year being again reached, indeed, if not higher; and hence, although this feeling ia general, and every" circumstance justifies a still further advance than that establishefl--'dealers and manufacturers all acting with the most extreme caution—the bitter recollection of lastvyear still operating on their minds and producing: a caution which has . the salutary hiflueiice of keeping prices from advan- • cinq to a rate to which the present rates of manufactured goods bear no comparison. It|is:an anomaly 'that parties should buy the raw. material to work .for no profit or perhaps a loss; but valuable machinery must be kept in motion ? arid therefore all purchasers, with scarcely-an exception, are buying only for present or certain wants ere the "year -closes.,":

We annex the circular of Messrs. Jacomb & Sons, giving further particulars worthy of attention:— "London, November 16,1858. ,

"The public sales,of colonial wool which com-~ nienced on 4th instant, continue in progress, and will close on Ist: proximo.

The quantities ia time for . -There hßve'beenf sale atrived sinre July '-catalognedto \ 15, were— : .. s this date— .: Bales. . ..-Bales. I 13,600 bales Anstralian (pt. N. 2.) ..... 5*,742 5,800 «' Victorian .. „ „ .. 3,350 262 " Tasmania ... .... .. 699 1,382 " Adelaide .. .. .... 9IU 4,928 "* New Zealand direct .... 3,530 20,328 '" Capo of Good Hope .. ..'10,255 46,240 Total -24,440 'To this > ■ -add, say J 5,500 " mostly Victorian and Taamanian, ' held over from previous sales. \ Total 51,740 At the commencement an average* Advance of 2d. per lb., as compared with the closing rates of August sales, was freely paid, and has been sustained to this date. In some cases, such as fuHstapled combing, middle Sydneys, andscouredTvools, we can hardly call it less than 2d. to 3d. per lb. ' On Cape wools it may be estimated at Id. to 2d. "To the present time,home buyers >have been the most eager purchasers, whilst foreigners have taken less than usual, their demand being checked j by the high range of prices, and the announcement '■ ■of-sales of 2000 bales Australian and Victorian,«t? Havre, for 17th instant. l "It is rather remarkable that the wool market - should be almost the exception to the dull ruling the various produce markets for some time past, *nd the change, when we compare prices with those of May, is almost unprecedented. At that time nothing could be well gloomier than the feeling of utter want of Confidence which then prevailed, jyhen the country was without a Ministry, and-the. j-unsettled state of Indian and Continental :-induced distrust in the future. - at that time purchased for the -supply ■-of immediate wants only, merchants withholding ! for goods until wools had receded™ • "value, goods also gave way bro rata, the consequence, - being an extension of demand, and gradually .-.advancing rates antilthe present time. ■ There can be no doubt that, the known quantities •; >of the 'old :clip still to arrive being so small, buyers • have based their •operations on an expected small sale in February.or probably under the belief that -the next series'#ili><be protracted to a later date : than usual; to givestime'&r the arrival of some fair •-quantity of the new clip. "It remains to1-be;-proved whether these high ■:prices will check ••'•ike? demand for goods, but there •can be no question that at-present the actual demand warrants theadvanceiri rates. iHow long they will continue is another matter,'to be proved by the future." ■ f