NEW ZEALAND PRODUCE IN LONDON.

New Zealand Herald, Volume XXXIX, Issue 12045, 15 August 1902, Page 7

NEW ZEALAND PRODUCE IN LONDON.

[FI'.OJI OXJB OWN COIIBESPONDENI'.] ' '■ London, July 12, WOOL. ' f " THE fourth series of colonial wool sales of the present year opened on Tuesday evening with three catalogues totalling 12,829 bales, 9301 of Which were from New Zealand. Messrs. Balme and Co. inform me that : the attendance of buyers was fully up to the average, and competition for merino and;line crossbred wool was animated at par to 5 per cent, advance oil the rates ruling at the close of the May sales. Demand for the coarser growths of.crossbreds, however, .which are in large supply, was not so satisfactory,' and values for these descriptions ruled in average 5 per cent, below that level, the depreciation ; being most pronounced on poor-conditioned .parcels. The. net available "supply for the series; includes 196,000 bales, after the deduction of 101,500 less amount in transit; with some 18,000 bales of old stock the total quantity consists of some 217,000 bales. . : . , NEW ZEALAND MEAT. ■■ . •"•

The New ~ Zealand . Loan"--? and • Mercantile Agency Company state -that the demand for frozen mutton has shown ; no ; improvement during the past ■ three weeks, and values in consequence , have a, ; weaker tendency, although stocks are not very • heavy. Prime Canterbury mutton is worth, from 2s 6d to 2s 8d; Dunedin and Southland, 23 4d to 2s 6d; North Island, 2s 3d to 2s 4d per stone. Owin; to the large available supplies of lamb and pressure to sell on the part of holders, prices have fallen considerably/' prime Canterbury lamb to-day being worth from 2s 9d to 2s lid: Dunedin and Soi.ih.lahd, 2s 8d to 2s 9d; North Island, 23 7d to 2s 8d per stone. Beef marks a further improvement,! especially as regards hindquarters which have .advanced 2d to 4d per stone in the last few days, .while forequarters meet a poor sale. Prime - New Zealand hindquarters realise from 3s 6cl ! 'to ■'& 7d, and fores 2s to 23 Id per stone, ex market. ■'MISCELLANEOUS. Messrs. W. Weddel tell me that stocks of, New Zealand wheat are exhausted, and therefore quotations are only nominal. New Zealand oats are. in very limited supply, - ana quotations are nominal; .there are no New Zealand beans on offer. J Tho.Mew Zealand Loan and Mercantile Agency Company say there is little or no change to report, in the position generally, as. regards Wheat ; the. whole market, however, has recently been 1 firmer. / The , demand continues to be slow, but having regard to the fact that indications] point to the possibility of the American crop being short, and.in the face of the. diminishing " visible supply." it does not seem unreasonable to look • for an \ improvement in the iwar future. As is customary at this season of the year, buyers are indisposed to operatein. cocksfoot ■ pending advice of the result * of; the European and American crops, this position being emphasised owing to the advanced prices afllced by sellers. Quotations are given nominally by the New Zealand Loan and Mercantile Agency Company. The National Mortgage and Agency Company note that cooksfoot is in fair demand at 47s to 48s per cwt, c.i.f., for 171b to 181b New Zealand" seed;,. Tho depression recently (reported lin the : market for New Zealand flax continues, ; and' the New Zealand Loan and Mercantile Agency Company say that values all round have ruled easier, sales of New Zealand flax, ex dock having been made at £28 per ton. The market, however, since has shown a firmer tendeney, recent sales having been' effected 'at ■ £28 ss, ex craft, and £28 103 -ex warehouse.For arrival quotations for June are £27, and for September £25 10s per ton, c.i.f. The National Mortgage and Agency Company of. Nov/ Zealand .tell me. that; tho prolonged depression ' and . inactivity, of the Manila market has at last broken down the patience of one ;of the leading shippers, and sales have been made of fair current for July-August shipment down to £37 per ton.' This Serious decline has influenced the market for New Zealand in a similar degree. - ' ; I hear from Messrs. S. Figgis and Co. that the improvement in the demand for kauri gum has not been maintained, and only a very small portion of tho quantity offered at last week's auctions found buyers. This firm says that fine rescraped and good dark gum sold :at extreme prices, otherwise there is nothing further to report. About 1000 pack ages were offered, a «:l only some 300 were sold "j Tho assortment offered consisted of one case 1 of dial (which sold at £12 15s), 20 cases of rescraped (of which 15.were disposed of at from £7 5s to £11). of the 1550 cases of threequarterscraped nothing was sold; t neither were any purchasers found for the 220 cases of half scraped of the 60 cases of pickings nine were cleared at. 455: 250 cases of bush (25 package being disposed of at *£4 ; 15s to £8 12s 6tl); 450 cases • of dark brown(of which 190 oaseS ' realised from £1 10s to £5 10s): 350 cases of chips (the 30 sold bringing 81s to 98s for bold pale 67s to 71s for fair palish, and 49s for middling): and 200 packages of dust ami sifting? (30 packages ord ■ selling at lis).' Messrs. Figgis say that the next kauri gum sales will take place, on the 31st inst. ~ ,:•/«£.' For tallow there has been a faiT" demand for medium, and inferior qualities,, but finer descriptions and ordinary sorts of mutton have been, and continue to be neglected: The stock at the em! of last month showed an increase of 5000 casks,, while the : shipments. though relatively moderate, were considerably in excess of those during the name period last year. There is a fairly steady feeling at the close, present ' quotations being :—Good to finest mutton. 34<j to 38s: fair, 31s 6d to 32s 6d: fair to good beef, 31s to 325; edible sorts, 34s to 35s rer owt. ■. * ' , ■The M. mid A. Company of New Zealand.write that New Zealand cheese meets. a fair demand: some parcels out of .last arrival worn rot up to usual quality, and bad to be sold in competition with' now. Canadian cheese . which ift quoted at 47? to 49p:- prices for. Now Zealand cheese are given at 46s to 53s per cwt .. English pelts, both Sheet) and lambs, haw, declined in price during the past' few weeks"! nnd this lias somewhat restricted the ' demand| for New Zealand pelts on the nart'.of Home, buyers. Prime freezing henvy sheen pelts are however. still maintaining late rates, and roI.I promntlv on arrival, some of them being bought by splitters here, and some for shipment to the States.