LONDON WOOL REPORT.

Timaru Herald, Volume V, Issue 156, 24 November 1866, Page 2

LONDON WOOL REPORT.

September 24, 1866. The continueil decline m the value of money -which has taken place since our last report has imparted considerable spirit to the sales. The home trade have bought freely throughout of all descriptions, and the exporters who bid cautiously at first have since been liberal buyers, so that with a few withdrawals, which have m most cases been subsequently resold, merchants iiavc met the market freely. Opening prices showed little or no advance for the first few days, but an easier money market had its effect, an-l prices have gradually advanced until we quote nearly all descriptions -about ljd higher, with * firm market. The sales close on Tuesday, and judging from 'the present active competition, we look for full rates throughout the year — perhaps for all stapled descriptions rather higher rates will have to be paid before Christinas. There can be no doubt that manufacturers have stocked heavily, rather than be caught m the same manner as they were last year — a feeling which baa no doubt been the main cause of -such even prices with a hardening tendency throughout ; the heavy rains throughout all the north would otherwise have had a most serious effect, and they may even yet be productive of a •quiet trade 'before the year has expired. Stocks <of wool are light m first hands, the few held over will help to supply the demaud ia November. Many old and second hands have been cleared off this series, leaving our market very clear of old accumulations.