LONDON WOOL MARKET.

Otago Daily Times, Issue 2588, 24 May 1870, Page 2

LONDON WOOL MARKET.

Messrs Jamea Morrison and Co.'s Circular, dated London, 17th March, reports :—

The firsfc of the five series of sales for the year, as decided on last October, should have commenced on 10th February, but was postponed till 17th, so as fco allow ©f the arrival of some overdue ships detained by the easterly winds; bufc even with that delay, when the sales commenced on 17th, there were but 72,000 bales new arrivals, and 8000 bales old stoak, to seli. The quantities catalogued were—l2,3oo bales from New South Wales and Queens and ; 31,100 bales from Victoria; 600 bale 3 from Tasmania; BSOU bales irom Soufch Australia ; 3000 bales from New Zealand; 55,800 bales Australian; 25,000 bales from Cape of Good Hope. Total—Bo,Boo bales colonial, against 134,800 bales at the corresponding series last year. We then commenced the sales a week later than on the present occasion, and had the first series of 1870 been deferred to the corresponding date, we should have had 20,000 bales more arrived, making up the quantity now to 100,000 bales. With so small a quantity as 80,000, we were indulging in hopes of a marked improvement; in price, but though the changes have been in a favourable direction, these hopes have not been completely realised. At the opening of the sales we had a lirge attendance of buyers, and biddings were spirited, but we could not quote any very decided advance in price. Continued increase of competition, however, was observable during the progress of the sales, and resulted, on the whole, in the establishment of a general rise of id to ld per lb.