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New Zealand Herald, Volume XXIII, Issue 7650, 29 May 1886, Page 4

From a telegram per .New Zealand Loan and Mercantile Agency which appeared in our columns yesterday, it 13 gratifying to learn that the prices in the London markets for several of our staple colonial products have a decided upward tendency. This is chiefly noticeable in the case oE wool, which is the principal Australasian export. Since the close of last sales inquiry after this staple has been considerable, and though tho British demand has been limited, the Continental is described as good, that on the French account being the moat active. Short staple merino, greasy sorts, are said to have advanced id to Id per lb, while scoured sorts are said to be Id and l|d dearer. Concurrently with this pleasing intelligence it is reported that the Autwerp sales opened on the 19th inst. at an average advance of 15 per cent, on Inst sales' closing rates, and wore in a progressive state. The quotations for wLeat, another leading export from at least two of the colonies, namely, South Australia and Now Zealand, are also rising. In our commercial news published on Monday last Adelaide wheat ex store

was reported at 36s ; New Zealand at 28s to 345, according to grade; but, in the telegram dated London, the 25th inat., already referred to, Adelaide is given at 3Gs Gd, and average New Zealand at 33s 6d to 343 6d. Tallow, too, which has long been low in price, is now favoured with a rising market; and, though it is somewhat variable, there is yet said to bo a good demand for fine and good sorts, mutton realising from 23s Gd to 24s 6d, beef from 2ls 6d to 23s per cwt. These reports are of a cheering character, and will prove a source o£ great satisfaction to producers and to merchants in this colony. And especially will they prove so to the woolgrowere and those who deal in that staple. The effect which the gratifying intelligence respecting this product is calculated to have may eaaiJy be inferred from the fact that on the 9th of April last it was reported that the wool market had undergone a decided fall, and was in a more depressed state than had been known for years. Nor will the effect produced by these encouraging reports be limited to the persona or trading companies whom they more immediately concern. The whole colony will reap the benefit of the influence they will exert in dispelling the remaining ahadowa of that depression which all have been complaining of, and of the impulse they will communicate to trade and commerce and industry of all kinds.