LONDON WOOL MARKET.

North Otago Times, Volume VII, Issue 157, 23 November 1866, Page 2

LONDON WOOL MARKET.

The " Homo N"ews" reports : — The continued decline in the value of money which has taken place since our last i eporb has imparted considerable spirit to tho sale. The home trade have bought freely thioughout of all deacupfcioiis, and the exporters who bid cautiously at first have since been liberal buyers, so that with a few withdrawals, which have in most cases been subsequently resold, merchants have met the market freely. Opening prices showed little or no advance for the first few days, but an easier money market had its effect, and prices have gi actually advanced until we quote nearly all descriptions about l^d higher, with a very firm market. The sales closed on Tuesday, and judging from the present active competition, 'we look for full rates thioughout the year perhaps for all stapled descriptions rather higher rates will have to be paid bcfoio Christmas. Theie can be no doubt that manufacturers have stocked heavily, rather than be caught in the same manner as they were last year, a feeling which has no doubt been the main cause of such even price3 with a hardening tendency throughout ; the rains throughout all tho north would otherwiso have had most serious effect, and they may even yet be productive of a quiet trade before the year has expired. Stocks of wool are light iu fii st hands, the few held over will help to supply tho demand. Many old and second hands have been cleared off this series, leaving our market very clear of old accumulations