COMMERCIAL & FINANCIAL. [BY TELEGRAPH—PRESS ASSOCIATION.]

Evening Post, Volume LIV, Issue 149, 21 December 1897, Page 5

COMMERCIAL & FINANCIAL. [BY TELEGRAPH— PRESS ASSOCIATION.]

Dunkdin, This Day. The first of this season's wool sales commenced this morning, 5499 bale 3 being catalogued. The attendance was less than usual, but the bidding was brisk for good lines. Up to noon the best prices obtained were— Greasy half -bred, 7sd; merino, 7d; three-quarter-bred, up to 7£d ; long wools, 6jd j lock pieces, l^d to 5Jd. Evening Post Office, Tuesday. THE BUTTER MARKET. There is again much to complain about in the cablegrams dealingwith the Tooley-street market. The advice to the Department of Agriculture is to the effect that the market is unchanged, and last' week's quotation of 104s is repeated. The Press Association message states that the market is dull, tho mild weather having a depressing effect. One or other of these messages must be misleading, and if it is the one to the Department, as we aro inclined to believe, the Booner some explanation is given the better. The price quoted in the cablegram from the Agent-General is probably the top price fora few special brands of Victorian make, arriving regularly each week and having an established reputation. A few really choice brands of New Zealand butter may also be realising 102s to 104s, but factory-ownera must know by this time that the average makes of New Zealand are not worth within 10s of the standard price. Those who rely upon the cables received by the Department of Agrioulture, and expect 104s per cwt, will be sadly disappointed. Judging by the market reports obtained from unofficial sources, the value of good first-grade New Zealand brands will make about 945, and faotories should look for about that figure for arrivals up to the close of this week. As the market usually gives way with the turn qf the holidays, 90s will apparently bo about tho price for arrivals in January. The Departmental advices have influenced the selling price at the factories, and contracts for spot cash at 9d per lb ,have been refused for the past two months A London house, writing to a client here under date 30th October, says :— " Canadian butter is a very strong feature, this season's arrival for September being 42,0000wt, or nearly the same as the total Australian arrivals last January. The cold stores at Bristol, Liverpool, and Manchester are chockfull of butter. A lot of money is going to bo dropped this season. " From the Grocers' Gazette of the 29th October tho following bearing on the provin* cial markets is taken :—" Liverpoolyf There has not been so good an enquiry this week, and it has been difficult to sell anything 1 under strictly fancy quality, and in order to clear these importers have had to take lower prices. The Engineers' Strike has affected this article very much in some districts, and has caused this market to decline in sympathy. Manchester — The Bale of all classes continues slow, and prices were irregular. Buyers had everything their own way, and notwithstanding the very low prices which, buyers accepted, a large quantity was left over unsold. Bristol — There iB still an absence of anything like demand, but prices show very little alteration." The cabled quotations for butter compared with k.st year show as follows : —

Advices by mail from London state that, according to Mr. Valentine, of tho Colonial Consignment and Distributing Company, | colonial butter will open at a considerably lower price than last season, which is a point in its favour, as the forced prices at the opening of last season had the effeot of throwing the demand on other butters, with the result that many of the trade steered clear of colonial until prices reached the lower level. The present prices ruling in Australia and New Zealand still prohibit operating on c.i.f. or f .o.b. prices, and it iB clear that, from the offers which have been refused, some of the factories and shippers will stand to lose. The Himalaya, which arrived early in the week, brought the first important shipment from Australia, the prices for which ranged from 100s to 104 a per cwt, as against an opening price lost season of 126s to 130s per cwt. While there is very little prospect of colonial butter reaching the high commencing figures of last year, yet it is anticipated that for the very finest quality batters there will be a fair range of prices which should be remunerative to the shippers.

November 27 .. December 3 .. „ 10 ... » 17 - 100s to 104 a 100s to 104 a 100s to 104s 100s to 104s J.OSM. 104 a 104s 98s to 102 i 98s to IOOi