ENGLISH COMMERCIAL.

Hawke's Bay Herald, Volume 14, Issue 1141, 5 April 1870, Page 2

ENGLISH COMMERCIAL.

Messes. Mile?, Brothers and 00. report :— ln consequence of the small parcels of wool to hand, the merchants' committee have been obliged to give the 14 days' notice, that the date for the opening of the next saleß will be postponed from the 10th proximo, as announced, until the 17 th ; and provided that we have more favourable winds, the quantity by that time may be considerably augmented. Since our last advices, trade in the woollen districts, although at times rather depressed, has on the whole been brisker, and the prospects for the present year look somewhat brighter. On January 27, the Importers' Committee postponed the opening series of sales till February 17. About 43,000 bales have arrived up to the dato of writing, composed according' to Messrs. Willans, Overbury and Co., of— Sydney and Queensland, 7195 bale-; Port Phillip, 11,651 bales; Adelaide, 5026 bales ; Van Diemeri's Land, 303 bales : New Zealand, 1595 bales; Cape, 17,042 bales. Total, 42,812 bales. Some of our friends supply different figures, but the disparity is very slight. Messrs. Southey, Balme and Co. observe:— The most recent news from the manufacturing districts convey no report of any decided movement in the woollen industry, but the elements of a healthy and favorable development arc not wanting. Stocks of all descriptions of the raw material are low ; and the probability of the continuance of a more moderate rate of production, coupled with the increase of confidence generally noticeable in every quarter, promise a firm and possibly somewhat hardening course of quotations. Messrs. J. T. Simes and Co. report a firm but quiet market. They do not expect any marked rise in prices. Messrs. Willans, Overbury and Co. remark that during tho past month great quietude has prevailed in the colonial wool market. Keports from the Continent speak encouragingly of the condition of trade, but those from the home districts represent the demand to bo only moderately active. Consumption, on the whole, remains steady, but the nearness of the February sales, together with the fact that the close of the year left considerable stocks in the hands of manufacturers, has operated to prevent inquiry. They estimate that about 90,000 bales will be in time for the series. Messrs. Buxton and Hunter say that very little business has been done in our wool market, and the same may be said of the dealers' trade in tho country; prices, however, remain firm at previous rates — especially half bred 3orts, which are in demand. Trade may be considered in a satisfactory state in the manufacturing districts, both at homo and abroad, and it is anticipated that prices will rule firm; and iv the face of a diminished supply of wool this year from almost all the producing counirios, we look for a steadier market, during the present season, than we have had for some time. Messrs. Jacomb, Son and Co, tell us that transactions in this market have been small, being almost limited to placing a few parcels retired at inadequate prices in public salo. Neither in the home nor continental manufacturing districts is trade at all animated at present. A fairly improving trade combined with this curtailment might give us some reaction from the drooping tendency of the last few years. Mecsrs. Bradbury and Cook observe :— We have nothing fresh to report by this mail respecting Australian wool. The recent fear of disturbances in France has had a depressing effect on the Yorkshire manufacturers, but as these anticipations have subsided, confidence will soon be restored, and we anticipate that the sales, which wii} CQmmence on February 10, will opon with firmness at previous rates Messrs. Hazard and Caldecott anticipate a firm maintenance of present price?, as stocks held are small and trade steady. From Leeds, under date January 25, it is reported that more animation prevails both iv the home and shipping branches. In tho coloured market the demand has been chiefly amongst fancy coatings and meltons, which have changed hands to a fair extent. The inquiries for tweeds have been pretty numerous, though the purchases have not been very large. Hair lists have had a steady sale in tho White Hall. Mediums and fine makes have been mostly sought after. Largo purchases have not been made, but an average trade may be reported. From Huddorsfleld it is reported that a moderate amount, of business was transacted. Buyers have been principally engaged in working up stocks to complete orders on hand. No large amount of business has been done in any of the departments. The country trade is somewhat sluggish. The local market is steady, with prices'firm. The importation of Colonial Wool into London for the year ending Dceember 31, 1809, was as follows :— Bales. New South Wales and Queensland 120,544 Victoria 200,183 South Australia 00,097 Western Australia 4,861 Tasmania 17,362 New Zealand 85,329 Capo of Good Hope 134,163 Total 634,51' i From India the importation was 57,524 bales, against 53,353 bales in 1868. The New Zealand Loan and Mercantile Agency Company (Limited) report:— Tho new year has opened with prospects of a more encouraging character for the wool market than we have been abie to chronicle for some time past. There has, i»dced, been no important or marked increase in the rate of consumption, either at home or abroad, but the reports from the manufacturing districts generally record a healthy condition of business, and the existence of a more confident and hopeful feeling. The recent nows from tho colonies, moreover, confirm tho probability of tho continuance of a more moderate rate of production from many of the principal wool-growing colonies and the River Plate while stocks, in all the chief wool centres, are lower than at the same period last you*, so that in fact many of the most important elements combine to favour a rather improving value of tho raw material. Among some of the circumstances which cannot enter into immediate calculation, but which promise to exercise a remoter influence / on our market, we may, perhaps, especially

mention the increasing giowth of a feeling in America in favour of a return to free trade policy, as evidenced by the report on the trade and commerce of the United States, recently issued by Mr. wells. It is a remarkable fact that the exports of woollens from this country, to tho United States, present a total considerably in excessof that shown 1 before the imposition of the tariff, nor is it less singular that, notwithstanding an almost prohibitive duty on merino \vool,.,tho number of sheep shews an estimated diminution of four million head. The arrivals for-the February Wool. S ( ales— fixed, in accordance with the provisions of 'a resolution communicated some maij^since .to.; commence on the 10th of the month— amount to date to : Sydney and MoretOn Bay, 17193; Victoria, 11,651; Tasmania. -303; Adelaide,- 6026; New Zealand* 1595: Swan-River* — ; Capej 17,042 ; total; 42,812 bales only, and of these it will be observed that 1505, including transshipment via Australian Ports, are from New Zealand. It has been deemed advisable under these circumstances to postpone the sale date till tho 17th prox., in order toincludoa larger supply, and thereby effect the object which was aimed at in making the recent cHange from four to five annual series namely, the more equal distribution of the importations of the twelve months. A committee has been appointed, since the departure of the last mail, Of several merchants nominated at public meetings recently held m Sydney and Melbourne, with a view of investigating various matters connected with the management of the London wool sales, and their report embracing all the principal details will probably be issued for the February mail. The publication of the Board of Trade returns for the eleven months ending 30th November, 1869, enables us to append tb9 following statistics :—

The importations from the colony of Now Zealand for the 12 months 1869, figure at ßs,ll 9 bales, against 81,208 bales for 1868. The only direct arrival from New Zealand for the February sales is the Mary Shepherd, with 426 bales. The following is a schedule of the Engliah importers of New Zealand wool for 1869, with f.he quantities i— , . Redfern, Alexander and Co., 11,029 bales; Dalgety Dv Croz and Co , 10.162 do ; New Zealand Loan and Mercantile Agency Co.. 9851 do ; Miles, Brothers and Co., 6249 do; Potter, Wilson and Co., 5274 do ; Mathesonand Co., 3055 do; Canterbury arid Otago Association, 2677 do ; Morrison and Co., J., 2565 do ; Edwards and Co., N., 2256 do: Richardson Bros, and Co., 1816 do; New Zealand and Australian Land Co., 2085 do ; Elder, A. L , 1282 do • Morrison and Co., A., 1276 do : Rogers, Sons and Co., H , 2056 do : Southern, Quilty and Co., 720 do ; Iluth and Co., F.. 290 do ; New Zealand and Otago Agricultural Land Investment Association, 530 do ; Brooks and Co., R., 325 do ; Collier, F. H. and A., 1049 do ; Moses, H. E. and M., 1224 do; Sandbach and Co., 633 do; Campbell, R , 1170 do ; Dickenson, G. F , 325 do ; Scales and Rogers 606, do ; M'Ewen, D. P., 596 do; Johnson and Allsup, 236 do; Lewi9, 8., 357 do; Fenwick and Co., 363 do ; Elsworthy, E., 365 do : GriceandCo., W., 221 do: Sinclare, Hamilton and Co., 422 do. Lamb, Wanklyn and Co., 163 do: Watt Brothers, 476 do : Moses, Levy and Co., 107 do : Cotesworth and Powell, 326 do : Bateman and Sons, W., 165 do : Australian Mortgage, Land, and Financial Co., 244 do; Morrison, Jno., 147 do; Mort and Co., W., 165 do; Gilbert, Kerr and Co., 891 do ; Sargood, King and Sargood, 80 do; Bowes, Game and Co.. 269 do; Richardson, R,89 do; Head and Co., H., 55 do; Atkins and Co., 66 do; Canterbury Investment Co., 119 do; Johnson and Archer, 61 do; Donaldson, Lambert and Co., 302 do ; InneSj R,, 69 do; Morrison, G. and J. D., 60 do; Cook, Son and Co., 129 do ; Ross and Ash, 66 do ; Forbes, Forbes and Co., 94 do ; Jackson, Walford and Co., 70 do; W. Mallalieu and Co., 4; New Zealand Scottish Trust Investment, 161 do ; Bostock, E. R., 43 do ; Thos. Murray, 36 do; R. Whits ingham and Co., 34 j Birdseye and Co., 23 do; Brugh, J. 8., 33 do; Curtis, J. L., 72 do : Petty, Wood and Co, 5 do: Harris, S., 44 do: Henry Manning, 16 do : Stuart and Simpson, 24 do : Warro Brothers, 351 do: Gibbs, R., 281 do: Lloyd and Co., B. S,, 3 do : Corbett, T., 8 do : Muirhead Parkes and Co., 1 do: Cobb and Co., A. 8., 45 do : Otago and Southland Investment Co., 1312 do: Armitage and Co., J., 516 do : Frith, Sands and Co., 170 do i Watt, J. 8,, 148 do: Flower and Co., P. W., 145 do: Browning, S., 121 do: Ellis, J., 119 do: Hodder, 88 do; Bell and Co., T., 70 do; Laird, A., 70 do; Vennell, G. H., 63 do; Lawton and Head, 61 do; Alexander, Geo., 52 do; Codd, 50 do; Michelis and James, 49 do; Crowo, W. A., 36 d0; Levesonand Co., 30 do; Powers, J. H., 30 do; Bell,. P., 27 do; Hurst and Son, J., 25 do: Young, Elhers and Co , 25 do ; Joshua Brothers, and Co , 22 do, Knight, C. H., 16 do; Charters, G. W.. 15 do; Moreton and Co., Jos., 15 do ; Udal, 11 do ; Oaborne and Co., S., 12 do; Baring Brothers, and Co., 8 do; Forbes, .0 C, 8 do ; Hogg and Robinson, 7 do; Dixon and Co., R., 4 do ; Lindo and Davis, 2 do. TALLOW. Messrs. Miles, Brothers, and < Co. report •. — The market has been steady lately, but the demand for all sorts has been limited, except for colonial, which has been in pood request. New Zealand tallow has sold readily, and the value to-day of good mutton is 455. to 455. 6d., and fair to fine beof, 44s to 44s 6dper cwt., being 3d on the former, and Is per cwt. on the latter higher than on the 30th December. lhe following report, by Messrs. Good, Rigg, and Co., on tallow and hides is dated London, Jan. 27 : —The tallow market, during the past fortnight, has been quiet, with only a limited business doing in most descriptions. Prices have been continually fluctuating, but the tendency has been rather upwards ; the value to-day of Russian T.C., on the spot, for delivery up to March, being 465, which is about Cd per cwt. higher than on the sth inst. The present stock consists of 29,891 casks, against 43,679 ca3ks at this time last year. Australian tallow has been in better demand than other sorts, and the sales, since sth inst., comprise 3101 casks. The present value of goo a to line mutton is 44s 6d to 45s 6d, and fair to lino beef, 44s to 44s 6d, being about the same for the former, but 6d per cwt higher for the latter than on the sth instant. Import 254 casks; stock this day about 1530 casks, the greater portion of which will be brought to public sale to morrow. Hides in small supply, but demand not active, and we cannot report any advance in value. Sales, since 6th instant, 14,090 hides ; imports, 254, which form the only stock now here. Wo quote, heavy, 4£d to 5d per lb. ; and light, 4Jd to sjd per lb. FLAX. Messrs. Miles, Brothers and Co., report:— The market for New Zealand flix is very dull, and prices have declined quite £7 per ton, with large stocks on hand. Rough is worth £20 to £25 ; fair, £30 to £35 ; good, £38 to £41. The IS'ew Zealand Loan, and Mercantile Agency Company (Limited) report as follows :— We have to report a very flat market for this staple. The reaction from the excessively high prices ruling last month has been considerable (£8 to £10 per ton), and at this reduction the trade are not willing to buy largely. . The bulk of the flax offered at public auction has been withdrawn, and there is every likelihood that some little time will elapse before contidence is sufficiently restored to induce buyers to come freely into tho market. Prices will pro', ably give way to somo further extent, and we then anticipate a more healthy tone than we have had during the present mouth. Messrs. Devitt ana Hett report: — We regret to have to announce that the recent heavy arrivals have caused a fall in prices of fully £5 per ton on the best dressed qualities, and of nearly £10 on inferior sorts. About 3000 bales have been offered at sale, but barely one-third have found buyers. Some of tho parcels per Mary Shepherd were exceedingly well dressed, more especially the marks " Constable' & X, whilst on the other hand the larger proportion consisted of very roughly dressed, which is almost unsaleable even at the heavy decline above reported, which only confirms what Wd have so strongly advocated for years, viz., the shipment of tho best dressed sort only. The "K" mark, pur Mary Shepherd, has been sold on private terms, but the price is supposed to bo about £41, " J U" £40; " Constable " bought in at £50; "E. Constable " sold at £37, to £37 ss; and "GB," per Thyatira, at £26. Tow realises £12 to £15 per ton. We think there is no doubt that the flax should be thoro. ghly prepared directly it is gathered, as it gets dry and hard on the voyage, and in the state it arrives here it is almost impossible to comb out the hard woody straw, &c. A few bales of fine selected young straw sold at £22 per ton. Manilla hemp is still dull at about previous rates, viz., £58 to £60 for fair roping. Messrs. G. & J. A. Noble report:— The flax market is exceedingly flat. The quantity arrived has been large, being, with what arrived late in December, and was held over till January, over 8000 bale-. In tho recent sales buyers hold olf, and prices receded, for the portion sold, £8 to £10 per ton. At this decline only a small proportion of the quantity offered could be placed. Thero is still some doubt In the minds of buyers as to its application for Manilla hemp purposes. Messrs. Ellis & Hale remark— At the sales on Jan. 12, flax docliued about £5 per ton (except for the good, which sold at previous rates), and out of 1350 bales offered, only 400 sold; good, £40 ss ; medium, £3<i to £37 ss; ordinary, £20. Tow, £12 10s. to £14 ss ; 368 bales offered on tho 19th were withdrawn, partly cleaned at £26 10s. to £28 10s ; and good at £42 to £43 ; 393 bales at public sales, on January 20, wero withdrawn or bouglit in. The " Anglo-Australian," in tho European Mail, says :— lt is with much regret that I have to siate that the opening sales for tho year in this article have proved very unsatisfactory, showing a fall of about £10 per ton, and even at this, little business has been done. The fact is, colonists are pressing forward in the cultivation of flax more than the young trade can support, and hence the present sluggishness in the market. Last arrivals were, on the whole, fairly sorted as to quality, but the proportion of poor colored fibre was great. Out of 1350 bales offered at the hales, only 1100 bold, the following being ihepricos :— good, £40 ss ; medium £34 to £37 55., ordinary, £20, .lower qualities, £12 103 to £14 ss.

. ...«■.." 1809. 1868, Imports of Colomtil and East India "Wool ... lbs. 199,968,030 193.316.002 Exports of ditto ditto ... 92,888.500 85,780,650 Leaving for home consumption ... ... 107.079,530107,535,412 , Total imports of wool of all kinds ..-. ... lbs. 239,838,959 229,152.697 Ditto exports of ditto ... .101,689,72$ 91,276,855 •' • ■ ■• f Ditto left for ioine don- ' -. ' sumption 133,148.834 137,876,041 Total exports of woollen manufactures and yarns £26,54*,638 £23908,827