COMMEKCIAL.

Manawatu Herald, Volume II, Issue 25, 18 November 1879, Page 2

COMMEKCIAL.

The N.Z. Loau and Mercantile Agency Company's circular, issued for the the mail of 26th September, contains the following:— Wool. — The third series of sales commenced on 12th ultimo, aud will close this erening. It is estimated that some 40,000 bales have been held over for future dbposal. The quantity passed for export is approximately 180,000 bales. The series opened with a good attendance of home and foreign buyers, but from the outset it was manifest that while tho former, inconsequence of gloomy harvest prospects, a stiU unsatisfactory state of trade, and a sensible deoline in the values of domestic wool, were not prepared to be eager competitors ; the latter having purchased with abnormal freedom during the second series oould afford to restrict fcheir operations in the hope of buyiug on moro favorable terms- later on. The proportion of thd daily catalogues during the first two weeks of the sales showed that many holders were prepared to meet the market even afc a decline on June closing rates, so that while at the opening good greasy merino wools and the finer grades of croßsbreds were taken on a par with the values then ourrent, other sorts relapsed to the early prices of-the secoUd series. As the sales progressed, •fluctuations .from day to day and' from week to week were obsorvable. In the concluding week the srreatest amcunt of activity was not exhibited, partly owing to the composition of some of the catalogues, and partly to the fact that in consequence of recent failures affecting indireotly the Colonial woollen industry, home buyers towards the olose restricted their operations. The reiterated unsatisfactory accounts of the present harvest have likewise of necessity exerted a prejudicial influence. Under these circumstances a comparison of the closing values of the second series with those now current reveals the following position, viz. : — JJDeeljno per lb.Washed Merino Wool ... Id to 2d Scoured „ „ ... id Medium and inferior greasy do Jd to Id Washed and scoured coarse wools ldto2d Greasy wools ... id \hero are no changes in the quotations fo Good Combing Merino Greasy Wools, o Light Greasy fine cross-bred wools. Amidst the general reduction in values it has been satisfactory to observe that, to a limited extent, purchases have been made for the American market of light-condition-ed greasy wools suitable to the requirements of the United States. As these purchases have been at a time of year when usually, Amerioan buyers do not come forward, it is a confirmatory indication of the revival of trade in the United States whioh may lead early in 1880 to more extended operations, when a much larger sok-ction of suitable wools may be lookad for. Tallow.— For the four public sales held iv the past mouth, 5,2'»6 packages of Australian Tallow" wero catalogued, of which 4,394 vera Bold at and immediately after the sales. Tbere has been a very fair enquiry thronghont this period, though the market barely closes at its best, and and at the most recent sales the demand was rather quiet, several pArcels nf fi e qualities of Mutton being withdrawn for better price*. JBoef Tallow fflaintains its position, and may bo quoted tho same as afc departure of last mail. Mu.tton on the wholo is 6d to 9d per cwfc. dearer. Importations duriog the fourweok« la*). ended reach 9U packages. Further shipments afloat are advised as equal to 3,218 oasks. . IiBATHBn AKn Hidks.— Tho two public auotions held durtag the month have in-

cluded 4,411 s,ides Leather, the wholo of which was sold. The demand was verj good, nnd prioea now current show a conriderablc improvGmonfc oh those ruling n month ng-i. Corn* Maulcet.— The "VVhe.it harvest in this -country ia still far from com pleted, and there now appears to be no room for doubt hnt th.it the early estimates of the crop — nn favorable na tliey were — w II not • c realized. The harvesting his beo.i seriously impeded by the variable weather, and very few samples of the new crop have as yet been offered for sale. Of theso f^w the condition ha 8 been generally unsatisfactory. •Va ttie dotici'-Micy both in mir own crops and tlios'j of the othar countries of Western Europe has become more apparent, the apathetic feeling until lately prevalent in tho trade lias given place to one of considerable excitement, tinder the influence of which values of all descriptions of wheat have motfed upward from 4s to 03 during the paat ten days. In spite of heavy purchases made by millers and speculators the upward movement does not yet appear to have exhausted itself. Californian Wheat in c lrgo is selling at 5*2 * 6d c.i.f, chiefly for Continental account. Australian cargo js have boon sold atSlsOd c.i.f., and ono now at port of cdl is icld at 535. Holders of a few cargoes now -afloat are unwilling at present to place them on the market. The supply of Now Zealand Wheat is still Überal ; but the great scarcity of English grain lit for mill'n^ i-nrpisea enables i*npo*tora to realize aamwt advance. Good to ft.ie parcels are now worth sls to 51-,, with a steady aale. I.OXDON' MAKKGTS. The New Ziala-td Loan and Mercantile Agency report under date. London Novem ber Bth:— Tallow, iv good demand. Supplies of town melted light. Stocks ditto. Best mutton worth 435, and beef 41s per cwt. Wheat — Adelaide, worth GOs ; Now Zealand, oOs per 406 lbs. Kauri guni, brisk demand ; stock light ; medium, £5 los; hai f-sci aped sorts, fl 10s per cwt. I tank oi England rate, 3 per cent-