LONDON WOOL REPORT.—August 1860.

Colonist, Volume IV, Issue 315, 26 October 1860, Page 3

LONDON WOOL REPORT.—August 1860.

Notwithstanding- the continuance of bad weather our sales have progressed on the average with remarkable uniformity—a circumstance confirming the healthy position of the manufacturing interests and generally satisfactory state of trade. Considering the jeopardy in which even yet the harvest is placed, and the probability of a high range of prices for provisions during the coming winter, coupled with every probability of dear money, it must be matter of congratulation to importers that their produce has been quitted at on the average good prices, and evidences great confidence on the part of buyers to clear wool to the extent of more than £2,250,000.

The sales have so fap progressed that 80,000 bales have passed the hammer, and although occasionally discretion has been exercised by the broker selling, yet the merchants may be said to have met the market freely. It is not expected that much alteration will take place now in quotations, but the continuous fall of rain is causing buyers to curtail extensive operations, and were it not that many manufacturers are buying who did not attend the early sale, prices might have given way about l^d.

All the better classes of wool have met with steady competition and sold well, inferior sorts, particularly the half-washed ill-bred New Zealand, which have sold at relatively low prices, being in excess of the requirements of the trade.

House of Commons.—Respecting the troops in New Zealand, Lord A. Churchill (July 27) said he had been informed that certain transports had been sent to New Zealand to bring back troops, and so reduce the number of effective soldiers in the colony ; and asked whether it was the intention of the Government to do this in the face of the disturbance in that colony, and in spite of a requisition from the Governor for more troops. Mr. C. Fortescue, in reply, said that the rumor was a false alarm: there was no intention that the ships should bring troops, unless, in the opinion of the Governor the disturbances were at an end. On August 13th, Mr. A. Mills gave notice that next session he should move for a select committee on the subject of the local military expenditure winch should be defrayed iroin the military and local exchequers respectively. On August 22ad, Lord Palmerstoa announced that it was Dot the intention of the Government to press the New Zealand Bill further at the late period of the session.

The Mails.—The mails from Melbourne and Sydney of June, and those of May from New Zealand, arrived at Suez per Malta on July 28, and were transferred to the Massilia, at Alexandria, reaching London, via Marseilles, August 6, and via Southampton August 9.