LONDON WOOL MARKET.

Otago Daily Times, Issue 6792, 21 November 1883, Page 2

LONDON WOOL MARKET.

Messrs Jacomb, Son, and Co., in their circular, dated London, October 3, cay :--

The third series of public sales of Colonial wool for this year h.%3 bore closed to-day, aftnr a duration of 3S days, during which period an average quantity of 10,676 bales has been daily offered. Of the quantity sold, about 170,000 bales have been tiken for export, including Bomo 1200 bales for U.S.A. Tho uourso of tho talcs throughout ha 3 been disappointing and uoeatlßfactorv to almost all concerned, but more especially so to the unjustifiably sanguine ideas formed in all the wool-producing Colonies early in the year as to tho future of our market.

In comparing recent pricoa wi'h those of former years it must be bomo in mind that a very large pioportion of this season's clip has been, in growth and condition, fur inferior to its predecessors, and the largo weight ot such produce has borne heavily on a weak market.

We have recorded tho minor flnctua'ions from time to time duriue the sales; the closing fortnight has produced a little moro animated demand from tho Continent and a somowbat better tone generally; but all faulty, shoit, and inferior wools must still bo qotcd from 10 to 15 per cent, under previous auction values.

Good merino lambs' free from fault, being In voiy Bhort Bupply, havo been eagerly sought for at enhanced uriies.

Tha market for crosßbreds, especially of the finer de-criptioDß, bos been steadier perhaps than any other: wo hope there Is now some kcucral indication that tbo long drooping values ot these descriptions may have passed their no st.

Messrs Mort and Co., of Sydney, in their monthly circular dated November 6, write :—"Since our last, prices for wheat have given way to the extent of about 8d psr bushel. Our last sains ot Colonial wheat were at ta Od. Ot Adelaide the market ia well supplied, and this week we sold a large parcel at 4b (id. We quote New Zealand whoat at from 3s to 3s 9d per bushel for boat lines. Oata realise from 2a to 2s 7d per bushel tor best parcels, ani Is Sd to Is lOd for medium."

MINING,

NOTES FROM REEPTON. [By THLKORAru] (fROM OUtt OWN 00RRK8P0SDXXI.)

Rbefion, November 20. A slight inquiry after Darks, Welcomes, and inglewoods has been made, and small parcels have changed hands at late quotations.

A contract for (Wolt ot inclino tunnel for the Eureka has been let at £113s lid per foot. Tho contractor have the use of the Company's rock-boring machinery.

The extension of the No. 3 level of tho Nil Desperandum has also been lot by contract.

The Phcoaix intermediate level will be extended towards ihe north 60ft.

(Pis Unitbd Press Association.)

QttEYMOUTii, November 20. Tho mlno managor of tho Fiery Cross telegraphß the striking of the reef in the main drive 2ft thick, showing good gold. This is north of the block they are now working, and must have an important effect on the future ot tho mine.