ENGLISH COMMERCIAL.

Press, Volume XVIII, Issue 2489, 22 April 1871, Page 2

ENGLISH COMMERCIAL.

WOOL. Messrs Miles Bros, and Co. report, under date Feb. 21st: — The first series of sales for the present year commenced on the 3rd instant, with a good attendance of home buyers. Foreign competitors were rather more numerous than at the last sales, and their numbers have lately increased, owing to the probability of peace, and they have purchased rather more freely. Present prices are about on an average with those ruling at the October sales, but if any alteration be noticeable they are slightly firmer. Snow white Cape and Australian are dearer. We trust that peace will shortly be arranged between France and Germany, when we shall look forward to an improvement in our market. The fresh arrivals at the opening were : — Bales. New South Wales and Queensland 13,706 Victoria 24.656 South Australia 13,941 West Australia 988 Tasmania ..." ... ••• ••• 573 New Zealand 3,557 Cape of Good Hope 19,052 76,483 And about 40,000 bales held over. The New Zealand Loan and Mercantile Agency report : —The first series of Wool Sales of the year, which have been in progress since 'the 3rd. will close on the 27th inst. To this date 102,648 bales have passed the hammer out of a total originally stated at 120,000 bales odd, but of these some small proportion (principally Sydney Wool) has been withdrawn. The wool still remaining to be catolagued will bring the quantity considerably in excess of the above total, the difference being represented by old stock held over in second hands. The advance of 0/1 lb established at the opening sales has in particular descriptions—notably Capes and all kinds of scoured wools—being so far firmly maintained, while in others, particularly Sydney fleeces and middle-class clothing Port Phillips, a weaker tendency has been latterly distinctly noticeable, and the improvement in a great measure lost. The Bradford demand for good sound combing fleeces has remained very steady at full prices, but hardly exceeding the best rates current for similar descriptions in November. During the last few days the prospect of a peaceful settlement of the Prussian campaign has attracted an increased number of French buyers to our market, but the only consequent influence has been a slight improvement in greasy wools of Australian production. The quantity of New Zealand wool offered in these series has been very small, and with the exception of one or two "good flocks held over from November the selection is very poor. WHEAT AND FLOUR. Messrs Miles Brothers and Co., report : — The present value of Australian and New Zealand wheats here would be from 58/ to 62/. 4961.., according to quality ; and of flour from 38/ to 41/, 2So_b. The capitulation of Paris and the armistice, between the French and German troops, have not affected the price of wheat materially ; but flour rose about 4/ ft- sack, as the first French wants were for flour for immediate delivery. But as these were soon supplied from stocks on hand here, and at the outports, this rise was lost to the extent of 2/ *f sack. As soon as peace is settled, we expect to find a considerable demand from France aud Belgium. The New Zealand Loan and Mercantile Agrncy Company report:—Craving reference to our market report of date 24th January last, we have to remark that the capitulation of Paris with an armistice of several weeks caused enormous purchases of English aud American flour, and some wheat and oats, to be made on this market, as well as at all the principal shipping ports, the consequence of which has been to nearly clear away all available stocks of Foreign flour, and to relieve millers of their accumulations, awaiting the above-mentioned event. Large purchases were likewise made in America, to be sent forward as quickly as possible. The French Relief Funds, iv the hands of the Lord Mayor, orders from the French Government, and speculative purchases of private firms came into operation simultaneously, causing prices to rise here from 37/6 sack, of 2801b, on good English country flour, to 41/ f.0.b., and on American barrels from 27/6 to 31/6 $> 1961b. Wheat rose about 2/ per quarter only, as our millers have not shown any anxiety to replace what they have sold in the shape of flour, knowing that they could do so at any time while the present large fleet of wheat cargoes from the Black Sea, Sec, was undisposed of. Had it not been for the French demand, prices of wheat would probably have fallen to the same extent as the rise. This fleet which has so long been held as a " god" over the trade, has been divided, and arrives in sufficient batches to rather over supply the demand, and keep our markets in an inanimate state. The immediate requirements of Paris have been amply provided for, but after a few weeks this large city, and all the eastern, north and south-eastern districts of France will again need great food assistance, and we therefore look presently to a more lively business here, with better prices than those now current, which are about 2/ *#• sack and f' barrel lower than the extreme rates lately paid for flour, and 1/ for wheat. The present value of Californian wheat here would be 59/ to 60/ *p 4961t>, while arrived cargoes sell at 58/ to 59/ 3. 500tt>. cif Australian and New Zealand wheat would make here from 58/ to 62/ p 4961b. accordiug to quality: and flour from 40/ to 43/; Australian arid New Zealand, 38/ to 41/. With the exception of the above-named fleet, foreign supplies to the U.K. have been small. SEW ZEALAND FLAX. Messrs Miles Bros, and Co.. of London, report :—Since our last advices there has been a fair demand for most descriptions. At public sales on the loth inst. 976 bales were offered, and 507 bales were sold, but the parcels consisted principally of old stocks of bad quality. Dealers are holding for higher prices. Stock on hand about 1150 tons. Parcels have been disposed of at from £14 to £22 10s ip ton. The New Zealand Loan and Mercantile Agency Company report:—Operations in this fibre during the past month have been exceedingly limited, and we regret to have

to report unfavorably of the market. Since our issue of 24th ultimo less than 500 bales have been sold by private contract; while out of a total of 2490 bales offered at public -action only one-half was sold, notwithstanding that holders were in some cases disposed to accept lower rates even to the extent of about 40/ per ton. The general quality, however, of the flax offered has been very poor, and it is fair to infer therefore that really first-class well cleaned flax has not suffered, and that it would doubtless realise within a trifle of the rates current a month asro. Tow is not in good demand, only 20 bales having been sold at £12 15s @ £15 per ton out of 63 bales offered publicly. The following are the rates realised at the last sales of flax, viz.—£l4 @ £16 10s for half dressed ; £17 15s for half to threefourths; £19 los<3> £22 10s for three-quarters dressed; and £23 @ £24 5s for fairly cleaned. There is a further falling off in the deliveries last mouth , which amount, according to the dock and wharf returns, to 213 tons against 422 tons in December, and 916 tons in November. TALLOAV. Messrs Miles Bros, and Co.. of Londou, report:—The tallow market has been quiet lately, and prices have receded, the present value of good to fine New Zealand mutton being 42/6 to 43/6. and good to fine beef tallow 40/9 to 41/3. Hides are firm, and the present value of both heavy and light is 0/5 to 0/5J -f ft. The New Zealand Loan and Mercantile Agency Company reports :—The transactions in the tallow market during the past mouth have had a tendency to lower rates in coui sequence of speculators for a rise in March, seeing the little effect the capitation of Paris had in raising prices, selling, and being met jby little disposition on the part of buyers to go into the article, a moderate price was accepted, and a decline of £1 per ton has j resulted. This has to a like extent affected I colonial produce, and the weekly purchases have fallen off from 1537 to 600 casks last Friday. Peace is still regarded as a good omen for tallow ; and as soon as the Continent takes supplies from our market we shall no doubt improve. Since the 24th January 6835 casks of Australian tallow have been offered, and 3287 casks sold at public sale, at prices ranging from 44/9 to 36/ for mutton, and 42/ to 34/3 for beef. Here today the value of Australian mutton, fine, is I 44/. medium 43/, low 38/ to 42/ ; beef, fine. ! 42/. low 40/ to 36/. The shipments to this market from Australia for the month of ! December were 3200 casks, making 8600 I casks afloat thence to this market