COMMERCIAL.

Lyttelton Times, Volume XLVII, Issue 5006, 6 March 1877, Page 2

COMMERCIAL.

Lyttelton Times Office, Monday livening. The Customs* revenue collected on Saturday amounted to £1221- 12s id. The following were the itemsspirits, 225 - gala, £135 17s lid; wino,77i gals, £ls ts sd; tjbacco, ltd lbs, £Ui; saddlery, 4 cases, £l3 18s; oilmen's stores, 677 pkgs, £226 6s 3d; musical instruments, 6 oases, £26 108 ; boots, 5 tranks, £lO Is 2d ; sugar, £.>,039 lbs, £ll 16s 7d ; tea, 780 lbs, £l9 10s; cement, 450 casks, £22 10s; galvanised iron, 41 cases, £22; dranory, 10 oases, £479 7a ; apparel, 0 phgs, £ll iia; glassware, II pkgs, £l7 8a; hardy, are, 53 cases, £59 Us 10d ; sundries, £BS 11s 6d. The cosh taken at tint sitting o£ the Wasto Lands Board to-day, lor \Vaste Lauds, amounted to £3124105. ■GOLDSBROUGH'S monthly circular. "Wool.—A fair amount of business has been transacted during the month, and full catalogues have been submitted considering the lateness of the season- the total offered since last summary being 12 113 hales, of which 9605 bales have beou sold. Brices bare been well maintained, nod increased firmness has been noticeaiJo at the more recent sales, notwithstanding the inferior condition of a considerable proportion of the lots offered. The .auctions will no doubt continue for ttoeorfour Greeks longer, but the quantity remaining to be offered is comparatively unimportant, and the season may no * be considered virtually over. In business of the season, we have reason S the growers on too unexpecleUy favourable results which have been realised. The

saleo opened at oar warehouses on Oct. 18, and looking at the generally unsatisfactory aspect of the Home markets at the time, excellent prices wore obtained. It became evident that buyers were prepared to operate at veiy full rates, based more on a prospective advance rather than on the actual quotations then advised as being current in liondon; in fact, eo satisfactory were the prices deemed te be, that many of the growers, who, in anticipation of a very dull market here, had already shipped their clips, regretted having done so. As the soles progressed increased spirit was manifested, more especially after the telegrams reached hero on Nov. ip advising the opening of the November sales in i ondou at an advance of Id to 2d per lb ou the rates of July and August. Subsequent telegrams gave still more favourable intelligence, thus imparting a further degree of firmness to tho market; i onsequeutly prices towards the close of November ruhd at an advance of fully Id per lb on greasy, and 2d per lb on washed, over the opening rates current in October. I hose advanced rates have been maintained to tho present date, t the market being strengthened through tho pi evailing impress! u that prices will open firm at the high rates of November in tho February sales, now about commencing in Loudon, Superior clips of_ greasy have met wioh active competition for America, and prices rouging up to lid per lb wero given during December and January for exceptionally good lots. This demand for tho United States not only added to the value of tho choice clips, but also strengthened priors for tho inferior to ordinary descriptions; those buyers for England and the Continent who could not compete with the Americans for the host lots being thus led to operate to a greater extent in tho lower classes. In all 7847 bales were sold for direct shipment to America, consisting almost entirely of the best unwashed lots ottered. Washed wools have also mot with brisk competition throughout the season, but occasionally the inferior to average descriptions have fluctuated a little, being at times more dull of sale than the choice lots. They have, however, generally recovered quickly, and we now quote them quite as firm as at any time during the season. Superior_cli.s have invariably commanded spirited competition, and one very choice well-known Western brand realised 2s 6ld, while another lot realised 2s 4sd per lb all ( round for the fleece. Scoured wools have commanded fully proportionate prices. With reference to the general con 4 ition of tho clip, we should class it as being, if anything, rather under the average, a considerable proportion s cowing lighter fleeces than usual, and being also frequently tender in the staple. This is the result of the dry season and consequent soaritv of feed during a great portion of the year. More than the usual quantity has come forward in the grease, owing to the supply of water being insufficient for washing. Burrs and seeds continue to be prevalent; but they have in most instances been kept wl-h the broken wool and pieces _ and locks, the fleeces having generally been skirted freely in order to rid them of these some oases no extent of skirting could eradicate the burrs from the best portions of the fleece, and it is to be regretted that a large number of clips j have been much depreciated in value in consequence. An important feature in the season's operations has been the large quantity of wool from the adjoining colonies which has been sent here for disposal. Strong efforts were made at tho commencement of the season to induce consignments to this market, and cheap contracts for freight were made, thus enabling growers in New South Wales and Queensland to forward their clips here at almost nominal cost. Directly these low rates j were published, a steady run of consignments com- ] menced, and most of the steamers that have reached here during the last three months have brought wool for sale, more especially since the prices realised for tho first lots became known. The usual soles in this market have thus been supplemented to the extent of several thousand bales; and, judg- | ing by the generally satisfactory prices that have been realised, it is evident that the new trade t which has been so successfully inaugurated will next season assume much larger proportions. More j than half the wool grown in Australia is shipped from this port, and it must be borne in miud that the shipments include nearly all the choice clips—the Victorian wools as a rule taking a much higher position than those grown in the other colonies. This arises from tho more equable climate, the gene- f rally better pastures, and the enterprise of our flockmasters in improving their sheep, and thus £ securing a more valuable cliss of wool. A large pro- - portion of the clips reach, the market in beautiful 5 order, and the manner in which many of them are washed and classed seems as near perfection as it is possible to attain. The superior class of wool thus attainable here for disposal has naturally attracted buyers from the groat manufacturing a centres of Europe and America, and we notice teat ( each season they are present in increasing numbers —in fact, this market has now become fully recognised as one ef the leading wool depots of the world. Already very large sales are made direct to the manufacturers, and there is evidently an increasing disposition on their part to operate here rather than in London, and thus secure a first selection of the special classes of wool best suited to their requirements. When a manufacturer has gained a reputation for a certain class of goods it becomes ( important to maintain it, and hence the necessity ( for securing the required description of wool. The > announcement that tho February .sales were fixed 1 to commence on Feb. 20—being several days later < than last year—has given general satisfaction, as a number of additional vessels have thus been enabled to deliver their cargoes in time ; and the succeeding sales will, in consequence, he relieved to , a considerable extent. The revival in the trade established during the past few months has, in the opinion of the shippers on this side, conclusively proved that the disaatrouslj low prices which were current in the July and August sales arose more from the overwhelming pressure of the enormous ■ quantity offered rather than from an actual , want of demand; and the apparently ill advised distribution of the sales ;i has been freely commented upon as being the primary cause of the great fall which so suddenly was established. It is to be hoped that this year there will be a systematic organisation, in order that the supply to be offered at each series may be more in accordance with the estimated requirements of the i consumers. We notice by the various telegrams received from London up to Feb. 17, that all i the sailing vessels which left hare up to Nov. 18 had arrived; in addition to which the steamers Northumberland, St Osyth, and Tanjore, which sailed some weeks afterwards, have also delivered their cargoes; thus making the total arrivals for the sales at that date 121,053 bales. The Duchess of Edinburgh, which sailed on Nov. 20 with 6529 bales ■ on board, would also probably deliver her wool in time, thus making a total of 127,582 bales from this port alone; being, we believe, the largest quantity of Port Phillip wool hitherto offered in the first series of the year, last season only 36,085 bales from this Colony were forward in time, with correspondingly small quantities from the other Colonies, the total catalogued being 107,101 hales. It is estimated that this year about 240,000 bales from the different Colonies will be included; but judging by the excellent passages most of the ships have made, even a larger quantity may be ready ; consequently the succeeding sales of the year will he equalised more in accordance with the demand, and probably a much steadier range of prices will be the result. The weather continues unfavourable for pastoral pursuits, and large numbers of sheep have been sent to the mountains, or placed on the roads to travel, owing to the scarcity of feed and water on many of the stations. The markets also have from the same causes been glutted each week with excessive supplies, and prices for fat sheep have, in consequence, ruled at very low rates. During the past few days there have been occasional thunderstorms, bnt the rainfall has been altogether insufiioient, and the excessive heat has almost neutralised any benefit that has accrued. A general and heavy rain is much needed, and at this late period of the season a beneficial change may soon be expected. We find on comparing the returns of exports that 275,671 hales have been shipped from Victoria from Oct. 1 to date, as against 273,112 bales shipped at the corresponding period of last year, thus showing an increase of 2559 bales only, or less than one per cent. There are still 37,353 bales to be shipped to make up last year’s yield of 312,566 bales, and we doubt if there will be much, if any, increase when the total year’s returns are made up. The exceptionally dry season we have had will no doubt have counteracted the increase that might otherwise have bean apparent. The shipments from South Australia from Oct. 1 to date are 109,228 bales, thus showing an increase of about 10,000 bales. The exports of New South Wales will probably also show a small increase, estimated at 7000 bales, and no doubt there will be a larger quantity shipped from Queensland, probably to the extent of 4000 bales over last year. The total increase from tho four leading Colonies may thus he estimated at about 23,000 bales, or less than 4 per cent, which is comparatively trifling, and much leas than was anticipated before the effects of the unfavourable season became apparent. The following shipments have been made since our last summary:— _ , Bales. Jan. 25, Loch Garry, from Melbourne to t London , Jan. 25, Bangalore, E.M.5.8., from Melbourne to London Jan. 28, Superb, from Melbourne to London 5,895 Feb. 5, Eunice, from Melbourne to Boston, U.S.A ••• J. 153 Fnb. 8, Winifred, from Melbourne to London 5,295 Feb. 9, Australia, from Melbourne to San j Francisco, U.S.A Feb. 18, Pekina, from Melbourne to Loudon 3,125 3 Feb. 18, Loch Lomond, from Melbourne to London ’ 3,182 Feb. 19, Hampshire, from Melbourne to i London 3,546 3 Feb. 29, Sobtaon, from Melbourne to London 3,967 Total 33.015 Add previous shipments ... ..; 242,656 Total Oct. 1, 1876, to date 275,671 PRICES CURRENT, 8. d. B. d. Greasy—lnferior ... ~, 0 7 to 0 8 Ordinary to average ... 0 9 „ 0 10i Good to superior ... 011 ~ 1 li y Fleece, washed—lnferior ... ... 1 2 „ 1 4 e Ordinary to average ... 1 4 ~ 1 0 1 Average to good 1 6 ~ 1 9 4 Superior 110 „ 2 4 is Scoured—lnferior 1 0 „ 1 2 5 Ordinary 1 2 „ 14. ; Middling to g00d.., X 5 „ 1 8 ; Superior ,„ 1 9 „ 2 0 i. Summary OV Wool Raufs from commencement of I season, Oct, 18; to date ; E. Goldsbrough and Co., Melbourne—2B sales, 61,576 bales offered, 52,047 bales sold; Hustings Cunningham and Co., Melbourne'—ls s lies, 27,248 s bales offered, 22,201 bales sold; J. H. C.ough and O Co.. Melbourne—ls tales, 14,875 bales offered, 10,855 bales sold; Monckton Synuot, Melbourne—--13 sales, 5055 bales offered, 3963 bales told; D. Melville and Co., Melbourne—2 sales, 347 bales offered, i- 327’baleo sold ; Dennys, Lascelles, and Go.. Cfoelong o —lt sales, 9770 bales offered, 85,6 bales sold; Goo. e Synnut and Co., Geelong—ll sales, 9348 bales g offered, 7430 bales sold; Buokland and Burnett, I. Geelong—ll sales, 2430 bales offered, 1939 bales d sold; B. Mellish nud Co., Geelong—7 sales, 1760 t bales offered, 1559 bales sold. Total—ll 3 sales, a 132,409 biles offered, 108,827 bales sold.