LONDON COMMERCIAL.

New Zealand Herald, Volume XXV, Issue 9186, 16 October 1888, Page 6

LONDON COMMERCIAL.

[fkom our own correspondent.] London, September S. The wool market has been quiet during the last month; and, though there has been a fair, regular demand, prices have exhibited a slightly drooping tendency. The fourth series of sales will commence on the 18th instant, and the arrivals are 239,992 bales, made up as follow : —New Zealand, 67,619 ; New South Wales, 48,450; Queensland, 15,339; Victoria, '22,406; South Australia, 7364; Western Australia, 19S; Tasmania, 4857 ; and Cape of Good Houe, 73,769. The continued bad weather has had the effect of still further sending up the price of wheat, and an advance of from 4s to 5s per quarter on wheat has to be reported during the last month, at which rise a large business has been done. Although this year there are 250,000 acres more under corn than last year, it is asserted that the yield will be below that of 1887. With the exception of Roumania and South Russia, where good harvests have been secured, the yield throughout Europe will be generally deficent. Australian and New Zealand wheat on the snot has been in active demand, and fully shared in the recent advance. The present quotations per 4lHilbs are : South Australian, 41s to 41s 6d; Victorian, 40s to 40s 6d; New Zealand, long-berried, tine, 40s 6d to 425; medium, 89s to 40s; short-berried, tine, 39s 6d to 40s 6cl; medium, 38s 6d to 393 tjd. The demand for kauri gum is exceedingly dull, though prices remain steady. During the month two public auctions have been hold, one on the 17th of August, at which l.") 00 cases were offered, but only 200 cases disposed of, and on the 30th 1187 cases were offered, and 400 cases sold. The frozen meat market has also been quiet, and there has been a slight droop in prices. The Doric, from Wellington, with 23,376 sheep,s3oß lambs, and 148;") pieces of beef, 'has cleared at 4kl to 5M for the sheep, sid to 6kl for the lambs, and 4d to skl for the beef. The Kaikoura, from Lyttelton, with 13,619 sheep, 2670 lambs, and 684 pieces of beef has cleared at 4kl to ofd for the sheep ski to 6Ad for the iambs, and 4d to okl for the beef The. Dunedin, fron Oamarii, with 10,935 sheep, has cleared at 5d to oi'l The Arawa, from Lyttelton, with 13,344 sheep and 1503 pieces of beef, has cleared at 5d to S MJ the sheep and 4d to for the beef. The longariro, from Port Chalmers ™i liV 5^ 11136 * , ' has cleared at 5d toskl. Ihe Fifeslnre, from Port Chalmers, with 26,478 sheep and 544 pieces of beef, has sold 19,000 sheep at 5d to skl. and 300 pieces of beef at 4d to SM. The Ashleigh Brook, from Napier, with 29,714 sheep and 1096 pieces of beef, has sold 4000 sheep at 5d to skt. The lonic and the Aornngi, from Lyttelcon, had not yet broken bulk.

From the New Zealand Loan and Mercantile Agency Co.'s circular dated September 8, we make the following extracts :— Talluvv.—lii the public sales during the past mouth, &&> casks Australasian were

catalogued, and 5406 casks sold. A good d e . mand has been throughout, and large business transacted. Both horne and export buyers purchased freely, and values have further improved, leaving off fully per cwt higher on the finer qualities, and 6d to Is per cwt on fair to good middle class descriptions. At this range the market ig very firm. We quote: —Australasian mutton fine, 26s to 26s 6d per cwt; medium, 25s to 25s 9d; common, 22s tkl to 24s ; Australasian beef fine, 24s to 24s 6d; medium, 23s to 23s 9d.' common, 21s to 225. ' Shekpskins —At the auctions held on the 16th and 17th ultimo, the offering of 2048 bales met a good demand, and the whole was disposed of at full to advanced rates. Leather.—At public auction values were without material change, but the tendency of prices was in buyers' favour. The market closes quiet. Saltkd Hides.—At the auctions a better demand prevailed, and the total offering of 1283 hides were disposed of under the hammer at a slight advance in the case of the heavier averages, other descriptions fully supporting recent values. Basils. —At the sales there was an improved inquiry, especially for lower descrip. tions, which sold readily at firm prices, whil< the better sort 3 generally marked an advance on late rates. Cotton.—The market for Fiji continue! quiet, and sales have been restricted to l=, bales of fair quality, disposed of at from 124 to per lb. A few balee of Tahiti hav« changed handg by private treaty at 9ir] per lb. Copra.—The market continues quiet, ana values are without alteration. Pearl. Shell.—For the auctions lf>S( packages were cataloged, and with a strong demand from the trade, the whole was dig. posed of under the hammer. Sydney descrip. tions advanced 5s to occasionally 10s per cwt, while West Australian were steady, exceov thin medium, which generally ruled easier. Black-edged were again in request, and realised full prices. Kauri Gum.—Two public auctions have taken place since the date of our last issue. On 17th ultimo, l."> 00 cases were brought tor ward, but the assortment was unattractive, and only 200 cases were sold, at prices about on a par with those ruling at the preceding sales. For 30th idem, 1187 cases were catalogued, of which about 400 cases found buyers at and after the sales. A quiet tone prevailed, and there was little disposition to purchase large lots, but for the portion cleared fairly steady rates were secured, a tew cases of selected realising extreme prices. We quote : Fine pale, selected, £'5 15s to £11 10s per cwt; clean, hard, good to fine, chiefly amber, £4 to £4 15s: good to fine, clean, hard, scraped, 75s to 80s ; hard, three parts scraped, fair to tine, 55s to 62s 6d; hard, half scraped, fair to line, 42s 6d to 47s 6d ; rough sorts, ordinary to good, 37s 6d to 40s ; black and brown, hard scraped, 53s to 59s ; ditto, half to three parts scraped, 36s to 48s ; ditto, coated, 20s to 30s; pickings, ordinary to fine, 20s to 40s; chips, low and ordinary to fine and superior, '25s to 655; dust, low to fine, pale, chippy, 9s to 455. Next public sales are advertised for 13th instant. New Zealand Hemp.—About 1800 bales New Zealand have been disposed oi' at and ex sale at an advance of from 10s to 20s per ton on our last quotations, but in sympathy with a decline in Manila, a quieter feeling has recently prevailed. The market, however, closes firmer. Hops.—A fair business has been done during the past four weeks, chiefly in last year's growths, and in consequence of the continuance of adverse weather, a further advance has taken place in values. The present estimate of tne out-turn of this year's home crop is from gths to of an average one, but as the season is late, the ultimate result will entirely depend on the climate experienced during the next two or three weeks. Advices from America continue to be of a favourable character. Preserved Meats.—The onlv feature o! interest in the Home trade has been a Government order for a considerable quantity of compressed corned beef and corned and boiled mutton in "21b and 61b tins. This .should help to improve the value of the latter descriptions which are in short supply, and if tnere were any consumptive demand, it would no doubt lead to an advance in price. Stocks of mutton at this centre are chiefly confined to New Zealand goods, Australian packers not having shipped any for some weeks. On the other hand supplies of boiled beef have increased, and there being no inquiry at present, stocks are accumulating, and values tend downwards. Boiled rabbits continue to find a ste.idy sale, and owing to the small pack of this season, prices are showing signs of improvement. We quote for best brands as under (inferior qualities £d per lb cheaper) :—Boiled mutton: '21b tins, 4id to sid per lb ; 4lb tins, 4id to 5d ; 61b tins, 3Jd to 4-Jd. Boiled beef : 3d to 3id per lb; 3|d to 4|d; 3Ad to 4d. New Zealand boiled rabbits, 4sd to s£d per lb. Importations into London during the four weeks ended Ist instant amounted to 15.022 cases from Australia, 16.501 cases from Nev Zealand, and 16,223 from America, &c. Frozen Meats. — Tiie market generally has been quiet during the past month. The demand, however, as is customary at this period of the year, has onlv been moderate, and values have at times "been difficult to maintain, but they close rather higher than on the 10th ultimo. There lias been no undue pressure to sell frozen mutton, and though it has not been possible fully to sustain the advance recorded in our last issue. to-day's quotations are only slightly below i those current a month ago. " The beef trade has been somewhat irregular. A falling off in supplies from America, which occurred shortly after the date of our last circular, speedily affected values, but recent arrivals have been heavy and prices again receded. The market, however, closes somewhat better. Valups of New Zealand and Australian descriptions have fluctuated in sym--1 pathy with the movements in American. The provincial markets have on the whole with remained steady at prices about on a par London rates. To-day's London quotations are as follow (per stone of 81b):—Prime Scotch mutton (wethers), 5s 2d to os 6d ; prime English mutton (wethers), 4s 6d to ss; English mutton (ewes), 3s 10d to 4s 2d; town-killed foreign mutton, 3s 8d to 4s 10d ; Continental mutton, 3s Sd to 4s Sd ; prime Scotch beef, 4s 2d to 4s 4d; prime English beef, 3s 10d to 4s; prime foreign beef (town-killed), 3s 8d to 3s lid ; prime selected New Zealand mutton, 3s 7d ; average ditto, 3s o<l to 3s 6d : inferior ditto, 3s 3d to 3s 4d; prime Sydney mutton, 3s 2d; prime River Plate mutton, 3s to 3s 2d | prime New Zealand lamb, none ; prime XeW Zealand beef, hind-quarters, 3s 4d to 3s 6d: prime New Zealand beef, fore-quarters, '2s 6a to 2s Bd. Cheese.—The bulk of the consignments from New Zealand per Arawa (s) and Tongariro (s) have been disposed of at from 40s ta 56s per cwt., the small quantity ex the fonnei vessel, owing to its heated condition, realising 10s per cwt. less than similar cheese bj the Tongariro (s). The Aorangi (s), having on board some 287 packages, reached dock yesterday. Butter.—There has been a good demano during the past month for all descriptions oi fine butter, and values have generally im< proved from 10s to 12s per cwt. For secondary qualities there has also been an inv proved inquiry. In the absence of available supplies there is no business to report in colonial descriptions.