Northern Times.
Liverpool, Merseyside, England, 1859-01-03 00:00:00

WOOL

In our ;last annual report, we expressed a string
opinion that this branch of business was, in itself, in a
sound position, nevertheless, it could not fail to suffer
from the consequences of the general crisis; and although
for a long time business was almost at a standslill, in the
absence of excessive supplies, either of Home or Foreign
and Colonial, and no undue pressure on the part of
holders to force sales, prices remained nominally pretty
well supported for some time. We are happy to state
that very few failures occurred ; these were for-
tunately confined within a narrow circle In the
manufacturing districts, and more or less in-
volved in speculative transactions with two concerns
in London, engaged as dealers in English
wools, who had also suspended payment. The liabilities
of these firms being both very considerable, and their
operations very complicated, exercised a most unfavour-
able influence on the whole trade ; and, there being con-
siderable delay in realizing the stocks of wool, it was near
clip time before the chief part was disposed of, and the
unusual course of forcing off a large quantity of wool by
public auction at this period had more influence than
under ordinary circumstances would have been the case
had the amount been ten times as large ; the result was
none other than was to be expected, but the extreme
lowness of prices, so. far from giving any confidence, only
t 'ded t- ti

;ems ec confirm ie exaggerated opinions in some
quarters entertained as to the rates likely to rule at the clip ;
in the meantime, the market for both home and foreign
was kept in complete suspense, and any sales that took
place were at the lowest possible point. As 'the Wool
trade was the last. to feel the effects of the crisis, so also
was it the first to show signs of vitality, and as soon as
home wools were in the market, the trade having driven
theniselves very bare of stocki, there was a complete
rush to secure them, which, consequently, opened at a
fair advance upon the previously current rates ; this at

once induced growers to raise their pretensions, and a
considerable advance was soon paid. The same activity
has prevailed ever since, and we scarcely remember
any former period when the advance has been more
decided and continuous, a result brought about altogether
by the legitimate requirements of the trade, without any

excitement of speculation. It is now at least quite
apparent that the growth of home wools is altogether
inadequate to supply the increased power of consumption,
leaving out of the question the number of new mills
started within the last few years. We pointed this
out strongly as far back as in 1853 and 1854,
and • have referred to it in our successive annual
reports since. .It cannot be doubted that but
for the late panic English wools would have reached
most extravagant rates last spring, and it may appear
strange that, notwithstanding the ordeal the trade has
since passed through, prices should now be in many cases
nearly as high, and even higher, than before that period ;
this being the case thus early in the season, and taking into
account the existing scarcity of the raw material, together
with the cheapness of fool and the low rate of money,
there is little room to doubt that before next clip, in the
ordinary course of events, a very. high range will be
established. Id.IIGHES & RONALD.

THE LONDON GAZETTI

INsoLvENr Prurromms.—Jan. 4. T. Fay -Liverpool; "jour
neyman baker. Jan. 18. C. Shaw, Yorkshire, fishmonger.

PARTNERSHIPS DISSOLVED.-J. Armstrong and J. H. Armstrong,
Kingston-upon-Hull; E. Lyon, A. Lyon, A. W. Lyon, F. Lyon,
J. Ross, G. Lord, Bombay, East India, mnrchants, so far as
regards J. Ross ; J. Mellor and J. Mellor Liverpool, rectifiers ;
J. B. Sherring and H. M. Harwood, Bristol, merchants ; L. B.
Twentyman, L. B. Twentyman, A. C. Twentpnan, and J.
Boustead, jun., Bucklcsbury, City, merchants; S. Ridley and 0.
W. Sadgrove, Trinity-square, City, general merchants; R. Zwil-
chenbart, R. Zwilchenbart, jun , and 11. Forrer, Liverpool; A.
Duranty and W. Steel, Liverpool, commission merchants.
DECLARATION OF DIVIDENDS.-D. B. Parry, Liverpool, white-
smith; first div. of 4s 41d, on any Wednesday, at Mr. Turncoern',l
Liverpool. R. Darlington, Wigan, money scnvcner; a second
div.
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Midrcohnesantery.
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