COMMERCIAL.

Manawatu Standard, Volume XLI, Issue 9625, 27 September 1911, Page 2

COMMERCIAL.

PRODUCE CIRCULAR. ■ Tho New Zealand Loan and Mercantile Agency Co,, Ltd., havo received tho following from London, dated 27th July: —Wool—Tlio fourth series of London wool sales, which opened on tlio 11th inst., terminated on 26th idem. Of tho available quantity of 175,000 bales, 134,500 woro disposed of, of whicii 4b,U00 .bales, including 20C0 bales on .American, account, were taken for export, while 41,000 bales woro held over. At tho opening values for merino and greasy crossbred showed little or no change from preceding series closing rates, but scoured and slipo ruled in buyers' favour, With tho' progress of the sales tho tono of the bidding generally improved, Continental operators keenly competing for Merino and fine crossbred, while Yorkshire manufacturers and ?pinners were throughout active, but for America : the demand was again insignificant. Tho batter descriptions of greasy Merino, par- | ticularly- where of fino quality, woro in

strong request at an advance of 5 per cent, hut on tho other hand faulty scoured, whioh was in considerable supply, ruled about 5 per oent lower. For mediumgrades of crossbred both scoured and slipe, tho demand throughout was very irregular, and only very low lids at times being tendered. The withdrawals were of considerable extent. ' As compared with preceding sales' closing rates, rlie present position may bo summarised as follows:—Merino, greasy super, par to 5 per cent higher; Merino, scoured super, par to 5 per cent higher; Merino, inferior and faulty, par to five per oent ■lower; crossbred, greasy fine, par to 5 per cent higher; crossbred, greasy medium, par to livo per cent lower; crossbred, scoured, 5 to % per cent lower; cross-' j bred, slipe medium, s.per cent to per : cent lower; crossbred, slipe medium, about ! 6 per cent lower; crossbred, slipe coarse, about 5 per cent lower; crossbred, greasy course, unchanged. Lambs—Par to 5 per oent higher. Special note—Loss in weight of wool. , —Owing to the hot weather which' has prevailed liorc during the past few weeks many of tlio shipments disposed of at tho_ scries just closed show a larger shrinkage in weight as between landing and salethan is usual'at this time of the year, this feature, of course, being most marked on scoured and slipo descriptions. For clients' satisfaction certified weight accounts will be furnished in all cases where any considerable c.ilfercnco is apparent, and tho foregoing will enable you to furnish the necessary explanation as to tho cause. _ Cocksfoot.—Tho market is very ' dull and lifeless, Tho Continent and America report good crops of excellent quality and 66s per cwt c.i.f. is quoted for seed of 90 per cent purity. We do not think that New Zealand 171b seed would be worth much more. There is a fair enquiry for Chowing's Fescue at 60s per cwt, o.i.f. for 241b quality, whilst sholled llolcus is in good demand, and doubtless 40s per cwt c.i.f. could be obtained. Tallow.—There havo been four public auctions since our last advice, and at all but tho last quite an average trade for the time of year haa been done. During the last few days a very quiet fceling_ has supervened, and at the close there is littlo demand for any descriptions. In Australasian for arrival a good business has been done, and good hard mutton lias gold at 24s l£d, fine mutton at 34s 3d, and good beef at 32s per cwt, c.i.f., but at tho close these prices aro not obtainable. We quoto on the "spot": —Fine mutton, 35s to 35s 6d; fair to good, 33s 6d 34s 6d; edible teef, 32s 9d to 335; and fair to good, 31s 9d to 32s 9d per cwt. Hemp—The market has been very quiot, with buyers quite indifferent. Tho Dominion oilers very sparingly, and at prices abovo the market rate. Wo quote: Good, fair spot, £2l (nom.), July-Sep-tember £2l (nom.), fair spot £2O (nom.), July-September £2O (nom.), and fair current manila £2l per ton, c.i.f. Tow is in good demand at £l3 per ton c.i.f., for No. 1 quality.

Grain.-The vohimo of trade dono in wheat has not been largo, but (he tono has been firmer, consequent upon unfavourable reports from Russia and India, whilst the political outlook in Morocco has had an effect upon tlio situation. A fairly good business lias been done in Australasian for arrival, and yesterday a South Australian cargo per "Trafalgar" July shipment changed hands at 33s 10jd per 4801bs, c.i.f., and a Victorian cargo per "Olinda" August bill of lading sold at 34s 6d, per , 480 lbs, c.i.f.. whilst parcels ;>f New Zealand 1-3 long berried near at hand havo realised 32s to 32s 3d ■ per 1501bs c.i.f, Oats are steady, but quiet. Now Zealand beans are scarce, and are firmly held. There is a little more enquiry for tho best quality Tasmanian maple peas, but no business has been dono on o.i.f. lines so far. Wo quote:— Australian wheat, 35s 6d to 36s per 496 lbs; New Zealand wheat, iong berried, 33s to 33s 6d per 4Uolbs; Now Zealand wheat, short-berried, 32s 6d to 33s por 4901b5; New Zealand bailey, ncno offering; Now Zealand oats, Sp.arrowbill, 19s to 20s per 3201b5; New Zealand oats, Danish, 16s to 18s per 320!bs ;'■>New Zealand oats, beans faq., 34s 6d to 35s 6d per 5041b5; Tasmanian maple peas, 'lst qualify, 37s to 40s >icr 5041b5; ditto, 2nd quality, 54s to 3fc. ditto, 3rd quality, 30s to 325; Australian flour, 24s to 24s 6d'por 2801bs. Frozen meat—The hot weather that has been experienced for some time past haS' materially curtailed tho demand for all descriptions of frozen mutton, with the result that holders havo had to accept lower rates. Canterbury and North Island marked a declino of about |d per lb. In New Zealand lamb a fairly good business has been passi, j, but during tho early part of tho period with pressure to sell on tho part of some holders, values ruled slightly lower, Canterbury and North Island declining 3-16 d and §d por lb respectively. This decline, however, has in part since been recovered. Iloavy sup-' plies of South American chilled beef continue to bo marketed at Smithfield, for which very low values have been accepted, fores and hinds having been sold as low as Ijd to 3d per lb respectively. Frozen sorts are but little wanted, and tho bulk of the recent arrivals have had to bo placed in store. For the few quarters sold lower prices havo had to be taken. Wo quote:—Canterbury sheep 3|d to 4d, North Island do. 3gd to 3|cl, Australian do. 3gd to 3|d, River Plato do, 3d to 3jid, New Zealand ewes' 3d to 3gd, Canterbury iamb _4Jd to sjd, North Island do. 4£d to sd, River Plate do, 4|Jd to 4gd, Australian do. 4jd to 4jd, River Plate chilled beef hinds 3jd to 3gd, do. forc6 2d to-2|d, River PJato frozen beef hinds 3d to 3Jd, do. fores 2id to 2|d, Australian frozen boef fores 3d to 3sd, do. fores 2|d to 2-' d, Now Zealand frozen boef hinds 3d to 3|d, do. fores 2gd to 23d olf tlio hooks at Smithfield. Sheepskins.—At the auctions which opened on the 26th inst., and closed today, tho attendance was not up to the average, and with slow competition some 2500 balea remain on hand out of a total offering of 8,000 bales of Australasian. For best linas of merino and crossbred combing, as compared with tho previous sales of June 14th to 16th, prices ruled ahout {d lower, but most other descriptions declined about per lb, i