LONDON WOOL KEPORT;

Wellington Independent, Volume XVII, Issue 1824, 31 January 1863, Page 2

LONDON WOOL KEPORT;

November 25", 1862. The last sales for the year commenced on the 14th November, the arrivals to that date consisting 0f— 1867 bales Australian wool; 8.054 bales Port Phillip; 2046 bales Adelaide; 2023 bales Van Diemen's Land ; 8678 bales Hew Zealand ; 79 bales Swan River ; 26,875 bales Cape — total, 57,142 bales; 18,100 bales held over, bought in and for speculators; making 75,142 bales. Ihe inactivity apparent in the Wool Market after the recent rise gave evidence that the advance paid would not be obtained during the forthcoming series, hence dealers were willing sellers at a less profit than they had obtained previously ; and manufacturers who had to a great extent anticipated their requirements for some months, were indifferent about further increasing their stocks even at a slight advantage, particularly as it was evident that the speculative movement could not be obtained ; this, coupled with a slackening demand for goods, caused all parties to look with great anxiety for the opening of the sales, which opened with a very large attend-

anoe of buyers, and although, prioen were well i supported for the first two nights' sale it was evl- \ dent that the trade were not in a position to take I the wool at high rates — hence the advance was 1 lost, and there haa been continued dullness at i each sale, with no immediate prospect of recovery. 3 We, therefore, quote prices now on the average f fully equal to August rates.' It is scarcely to be expected that, with the pre- j sent l'ar*e quantity of wool yet to be offered (about 55.000 bales), that even the present, rates j will be maintained. j The absence of the manufacturers in any number is remarkable, and an evidence that with : them at least present rates even are not of a pay- ; ing character. ;