COMMERCIAL.

New Zealand Mail, Issue 1189, 14 December 1894, Page 7

COMMERCIAL.

WELLINGTON MARKETS. Messrs LAery & Co. report current whole Sale values as under : Farm AnD Dairy Produce..

Messrs Dowes and lorns report that at the clearing sale at Te Ore Ore on December 5 the attendance was very ; large and representative, the stock being of good quality, in good condition, and well classed and without reserve. The whole sold under the hammer at sound market rates. In -sheep, 1000 ewes and lambs ranged from 8s 8d to 10s 6d ; dry ewes, 7s ; maiden ewes, 7s young wethers, 5s ; rams, 20s to 365. Dairy cows, £5 10s to £7 2s 6d; heifers, £3 10s to <£4 2s 6d; yearlings, 435. In horses,' 16 were sold, ranging from .£lB to £23 for farm maresand geldings ; aged, £6 to £8; young colts and fillies, £l2 10s; hacks, £8 to £lO 10s; drays, £3 to £l2; reapers, up to £3O; ploughs, £4 to £11; harrows, 30s to £6. Harness, tools, seeds, timber and sundries were eagerly competed for. The following London market cablegram has been received by the New Zealand Loan and Mercantile Agency Company from their London office s—Wool —The sales closed fairly well. Since the close of last sales the following alterations in value have to be recorded :—Greasy merino super and fine greasy crossbred are par to per lb lower. Scoured merino super, greasy merino medium and inferior, washed merino medium and inferior, medium greasy crossbred, coarse greasy crossbred, coarse washed crossbred, and qoarse scoured crossbred are £d to Id per lb lower. Washed merino super, scoured merino medium and inferior, fine washed crossbred, fine scoured crossbred, medium washed crossbred, and medium scoured crossbred are Id per lb lower. Other descriptions unchanged. The total quantity sold during the past sales is 125,000 bales, of which 65,000 bales have been taken for the Continent, and 5500 bales for America. It is estimated that 64,000 bales have been held over for future disposal. Hemp—The market is disorganised, and medium New Zealand hemp is worth £13.10s per ton, nominal value. . A. G. Taine and Co. report on the markets for the week ending 7th December : There was a good entry of sheep of a good class at our Manakau sale, the pens being nearly all filled. The late unfavourable reports of the wool and mutton market caused a drop in price which vendors were not prepared .to accept, and we turned out a number unsold. At present we can see no indication of a rise, and if vendors wish to sell they must be prepared to meet the market. We sold fat ewes at 7s Id, and 9s was refused for some wethers fit for freezing; fresh ewes sold at 5s 3d, and shorn hoggets at 6s ; 2tooth Romney rams at £2 2s. Cattle —A nice line of fat cattle (bullocks) sold at £6lss ; young steers, £2 63 ; yearlings, 36s ; milkers, £4 15s ; good demand for all classes of young cattle at quotations. At our Lower Hutt sale a good number of sheep came forward, principally shorn hoggets, which sold up to 4s 9d for some very ordinary lines. The sale was a dragging one, buyers holding off. We offered a number of cattle, and sold calves at 225, and other cattle at previous quotations. Milkers were mostly aged, and were unsaleable. Young cows coming to calve would have sold. Sheepskins selling freely. Best crossbred, 4s 6d to 5s 6d ; medium, 3s to 3s 6d. Tallow —Best. 18s to 20s. Chick wheat, 2s 3d to 2s 9d. '

Matthew Henry reports under date December 6th: —Cattle came forward in good numbers to-day, and were composed of steers and fat bullocks ; for the latter demand was ! very limited. Stores, however, were mostly quitted at quotations. Sheep were confined to ewes and lambs, and were dull of sale. Business done at quotations : —Fat bullocks, £6 to ,£6 10s ; 3-year steers, <£4 15s ; 2\ to 3year do, £ 4 ; weaners, 265; dairy cows, <£4 10s to £5 11s ; ewes and lambs in wool, 11s. Abraham and Williams’ stock report: —At Palmerston on the 6th sheep mustered in moderate numbers. The demand was somewhat slow at first, but improved as the sale progressed. Fat sheep still rule at low rates. Sound sheep meet with an unsatisfied demand, but without any advance in price. Aged ewes of an inferior description are difficult to quit. Cattle in fair supply were steady throughout, and kept last week’s prices. With the exception of an old beast or two and some ewes and lambs everything sold.

Sheep—Hdggeis in their wdblj lOs 3 shorn do, 0s 9d ; .Others, 5s to 5$ Get ; fat eweS, 5s lOd to 0s Bd.; prime dd; 7s Id ; forward ewes, 5s ; eWds with lambs,- all counted; 2s IOJd td 3s 3d. Cattle—Heifers iii-fqrward, condition, £4 2s 6d ; 2-yeat steers; £$ 2s dd td <£3 9s 3 do, £3 12s 6d ; 3-year do, £4 6s ; yearling to 18-months steers, £2 14s ; weaner do, £2 ; hows with 50 per cent, calves, £4 to £4 2s 6d ; milcli co'Ws up to £5. The NewKeAdAn'D LDAn and Mercantile Agency Company’s circular lot the Srtu Francisco mail of the 3rd November ha 3 the following’ : —The fifth series, which began on 18th September, was brought to a conclusion on 12th October. Allowing for one day, when owing to fog no sale was held, it occupied 21 sittings, with a daily average of 12,501 bales. The available arrivals wore 289,137 bales, and the quantities catalogued 262*529 bales. Of the former 70<OOO bales were forwarded direct into consumption, and consequently, inclusive Of, say; 75_;000 bales held dVer fforil the prededirig series; the .net quantity available fqj? disposal amdfinted to 28 ; 8,i5>7 bales; Of this quantity 223,000 baled were sold; 109,000 bales, it is computed, being takdn fdr export (inclusive of about 13,000 bales purchased fdl 4 America) leaving a balance of, say, 65,000 bales for future disposal. As the immediate result of the adoption of the revised American Tariff Bill early in August, there was a Considerable amount of speculative buying by private treaty sit .an advance of from 5 to 10 per cent, upon fourth series’. closing rates, but the enquiry subsequently foil away; and when buyers met sellers on the 18th September a less confident feeling prevailed. The course of events was disappointing, for though the opening was characterised by firmness values were without material alteration as compared with preceding series’ closing rates, save as regards good descriptions of merino and crossbred, which ruled about 5 Ber cent; higher. There was little change in id situation during the first week, but subsequently considerable irregularity was manifested, and, speaking broadly 3 While the descriptions .already specially indicated Well maintained the position established at the opening, other sorts ruled lower, inferior qualities of merino proving particularly difficult Of sale; This unsatisfactory state of affairs was largely brought about by the supineness of Continental operators, Germany buying sparingly, While the enquiry from the French section was extremely restricted. Again American competition was confined to a smaller area than was generally lookel for, purchases on United States account, though showing a sensible expansion, comprising for the most part descriptions which have hitherto found favour in that quarter. The reserved attitude of the French section was the direct outcome of the extreme depression which has prevailed for some time past in the chief manufacturing centres—notably in the Roubaix district — Where, owing to the large accumulation of stocks of top, prices ruled extremely low, the quotations for standard quality ’early in October touching the lowest point on record. With regard to America it must be borne in mind that in competing for descriptions other than those familiar to them, operators would at first naturally exercise considerable caution, and for this reason the full effects of the changed conditions as regards, the purchasing power of that country have not yet been manifested. Moreover, so far as European manufactured goods are concerned, the new tariff does not become operative until the Ist January, 1895, and having regard to these considerations, to the disorganised condition of trade generally, as well as to the position of the labour aud currency questions in the United States, but a gradual recovery there could only ba looked for. As the result of the brisk Home trade enquiry, greasy crossbred in light condition met a ready sale throughout, but for dingy, common sorts the demand was. irregular, aud opening values wero not maintained. With regard to the immediate outlook, it is extremely difficult at the present juncture to form any reliable opinion of the future course of events. On the one hand there appears to he no likelihood of any immediate amelioration in the state of affairs upon the Continent, while on the other the full benefit of the American tariff has probably yet to be felt, and this in conjunction with a relatively low range of values for the raw material and the fact that consumption shows signs of expanding, tends to induce the belief that a recovery from the long period of depression, if somewhat slow, cannot much longer be delayed. Edwards and Mcßeath report concerning the labour market : —We have been rather busy during the week, especially for the country.

A. G. Taine and Co. report of their horse sale to-day : —There was a good entry and a fair attendance. Horses consisted mostly of hack and harness sorts and about six draughts. Following on the large sales last week the demand was not. so brisk as then, but this was to be expected, as this marked oan only absorb a limited number, and there has been a tendency lately to rush it. We sold aged draughts from £8 to £ls ; light harness horses, from £7 to £9; aged, £1 to £6; screws, from 30s upwards. Young, sound harness horses with some woight would meet with good demand. 1 unbroken horses from Penearrow Station did not come forward, owing to an accident, but will he offered later on.

Townsend and Paul’s weekly report of the horse market to-day is as follows: —A fair attendance, with full entry of most kinds of horses, but our previous Saturday sale of 38 Sydney horses evidently satisfied buyers to a certain extent. For the Canter-

bury consignment wo realised £7 ss, £8 158, £l2 10's, £l6 and <£l6 15s ; a fine six-year-old heavy draught being passed in at £2l; a compact black cob, aged, fetched £7 15s ; and a useful bay mare, aged, £B. The remainder of the entry consisted of light harness sorts and hacks, fetching from <£2 to £6 ss. There is more Speciilatibh apparent; and for really young, sound, lloi'ses Of every description buyers are in evidence, feed being pretty abundant, with all the summer before US,

VOOL MARKET. THE WELLINGTON SALES. The New Zealand Loan and Mflii'CA£P tile Agency Company report of the woc>‘l sales on Friday : The first series of local sales opened to the usual attendance,of buyers and comprised in all about 1.500 bales, of which our catalogue held 882. Although it was fully expected values would show considerable shrinkage on last year’s rates, no one was prepared for tlie lieaVy decline indicated by buyers’ valuations, which range from fd tO dovfri On good to inferior descriptions. There Was, howe’ve.r, throughout the sale an evident disinclination tO operate on the part of buyers, and fully SO per cent, of the catalogues was bought in. Since the auction,however, we have succeeded in effecting further sales at slightly increased rates ; still the results will carry considerable disappointments to a large seotion of growers. We append the list of sale prices Six bags greasy Crossbred, 4|d; 9 bags do, 4fd ; 1 bag washed pieces,- 4d ; 2 bags greasy black, 3£d; 4 bags greasy Crossbred, 4fd ; sinD, 1 bale greasy crossbred, sd; Beaumaris, 1 bale greasy mixed, 6d; BeaumafiS, 1 bale dead wool, 5d ; JW in diamond, 1 bale greasy crossbred, 6d; R and S over T, 1 bale mixed, 4Jd; LM over W, 1 hale greasy mixed pieces, 2-Jd ; LM over W, 2 bales dead wool, s|d j JK over U over —, 1 hale greasy crossbred hoggets, Gd; W, lhale greasy pieces, 3d j S in circle, 4 bales greasy crossbred, 6£d ; PC over Takaimaitu, 1 bale greasy pieces, 2d ; WW over Wj 4 bales greasy Lincoln, 6£d; TT conjoined, 2 bales greasy Lincoln, 6|d; J diamond over Stoneycreek, 1 bale greasy crossbred part locks, ham, 2 bales greasy locks, l|d; AA over Wpodside, 5 bales greasy crossbred, 6Jd; EJR Over Longburn, 1 bale greasy locks, 2d; Te Ore Ore, 2 bales greasy crossbred, 7|d; R. and S over T, 10 hales greaßy locks, l|d; X in circle, 1 bale greasy orossbred, 6d ; X in circle, 3 bales greasy crossbred hoggets, 6d ; 7 under crescent, 1 bale greasy locks and pieces, 2fd; JK, 2 bales greasy crossbred, 6*d; EoverSandyford, 1 bale greasy crutchings, part dead, 4d; K in circle, 6 bales greasy crossbred, 7£d ; ET, 1 dump greasy crossbred, 4£d; 88, 1 bale greasy pieces, lfd ; J over 000, 4bales greasy, crossbred, 7d ; FV over M, 1 bale greasy locks, lfd ; BB over I, 1 bale greasy crossbred, 7£d ; PC over Takamaitu, 1 dump greasy crossbred, 5d ; HW, 1 dump greasy pieces, 3fd; Pah Flat, 1 bale greasy locks and pieces, 3d ; WFJ over K, 2 bales greasy pieces, 3|d ; JK conjoined, 15 bales greasy crossbred, 7d ; WT over K, 6 bales greasy crossbred, 6fd ; WT over K, one bale greasy bellies, 4d ; P in circle, 1 bale dead wool,4fd ; Pin circle, 1 bale greasy crossbred hoggets, s£d ; Matakiore, 2 bales greasy crossbred, sd; MS, 1 bale greasy crossbred, 6fd : JH under U, 1 bale greasy pieces, 2fd; R and S over T, 3 bales greasy looks, lfd. gjjThe wool sold privately by the Loan and Mercantile Company after their auction on Friday was quitted at increased rates. A. G. Taine and Co. report of their opening wool sale for the season : —Owing to a number of English and American buyers being still in Australia, competition was not as brisk as usual, and buyers’ and sellers’ ideas of value being very much at variance, very little wool was sold. For good light crossbred and Romney wool up to 7£d was obtained ; heavy and discoloured wocl, 5d to s£d. Locks and pieces sold better in comparison to fleece wool, up to 4£d being obtained for good pieces. 7’be next sale takes place on January 18th, when we expect a very much larger catalogue will be submitted. The fall as compared with last year was from. Id to lfd per lb. Laeey and Co. (Limited) report having offered at their sale a small catalogue, comprising 110 bales, the whole of which was passed in, growers’ ideas of values not being reached. The highest price offered for good clean light crossbred wool was 7fd per lb ; coarse, 6£d ; bush stained, 5d to s£d. The figures represent a fail per lb in values current last season. The attendance of buyers was small, and bidding lacked spirit. Sydney, December 6. Prices for wool have shown no appreciable change during the week. London, December 6. At the auctions good wools remain unchanged. Inferior and faulty sorts are slightly in buyers’ favour. The wool sales are closing, only 128,000 bales having been sold. Compared with the previous auction, good merinos are at par, inferior and faulty fd to fd lo ver. Prices have been irregular. Crossbreds are par to fd lower. One-third of the total quantity available was withheld from sale. Lambs are par to fd lower. London, December 7. The wool sales closed firm. American buyers took 5500 bales. The Bradford wool market is quiet. Gisborne, December 7. At the wool sales to-day there was good sale for locks and pieces, but for crossbred cbe market was very dull, and prices did not reach last sale’s figures.

London, December 5. It is proposed that Nelson Bros, shall receive .£30,000 from Mr Valentine for the goodwill of their business. It is understood they are willing to transfer the business to Mr Valentine. London, December 7. At the instance of the Board of Trade, a committee has been formed, composed chiefly of members of the House of Lords and House of Commons, to enquire into a , system of lig’ht railways, costing £4OOO per ‘ mile in construction,with the view of rendering aid to the farming industry in isolated parts. London, December 8. The butter market is in a state of unrest. The choicest Danish is selling at 104 s to 112 s; second quality is quoted at 75s to 90s, but is difficult of sale. The imports of butter for November amounted to 16,000 tons above the returns for the corresponding month of last year. The total increase in the imports of butter for the 11 months of the current year reaches 11,000 tons. The New Zealand butter which is now arriving has been frozen with great success.

London, December 7. The chief object of Mr Valentine’s Produce Company is to distribute colonial produce in centres outside of London. Replying to the request of Messrs E. M. Nelson and Valentine, the AgentsGleneral declare that it is impossible for them to become a Reference Board for the Company. Mr Charles Thomson becomes a director, and Messrs Nelson have agreed to join the board. Sidney, December 6. Replying to a deputation of farmers who urged that the duty on dairy produce should not be removed until the end of next ycfir, the Premier said that if. it was found that the removal of' the duties in July inflicted any hardship on farmers the Government would probably take some steps to remedy the evil. The Agricultural Department contemplates taking vigorous action to secure a share of the export trade in dairy produce to Great Britain. The Government will shortly institute measures to promote and develop the trade.

By Telegraph. —Press Association. — Copyright. London, December 5. Share quotations—Union S.S., <£7 10s; N.Z. Shipping Co., <£4 ; Shaw, Savill, £5 10s ; 8.N.Z., new and old issue, nominally £1 10s. The quantity of wheat and flour afloat for the United Kingdom is 2,470,000 quarters, and for the Continent 1,070,000 quarters. The estimated American visible supply is 113,100,000 bushels. A cargo of Victorian wheat, ex barque Provi-lde, sold at 25s 3d ; 9000 quarters from Adelaide, prompt shipment, and the cargo of the Benmore, sold at 25s 3d; 14,000 quarters for shipment sold at 25s lid. The butter market is demoralised, being glutted with Danish imports, and prices are very irregular. Two Australian shipments arrived almost together. , London, December 7. The weekly returns of the Bank of England, published to-day, show the total reserve to be £25,740,000, and the proportion of reserve to liabilities 63‘64. Consols, 102 f, ox interest. Three months’ bills are discounted at 1 per cent., market steady. New Zealand 4 per cent, inscribed stock, 106* ; 3| per cent, ditto, 99 f, ex interest. New Zealand long-berried-wheat, ex warehouse, steady, 25s 3d; South Australian wheat, ex warehouse, 25s 6d ; Victorian do, firm, 25s 3d. New Zealand frozen mutton—First quality, 3|d per lb second -quality, 3£d. Lamb, , first quality, 4|d. New Zealand hemp. Market unchanged. Sugar German beet, 8s 10£d ; Java, weaker, 12s. - * No. 1 best Scotch pig iron, f.o.b. m Clyde, flat, 42s 6d. London, December 9. : Tallow—Medium mutton, 23s 6d ; beef, 225. 'The English wheat market has an upward tendency ; the Continental market is dull, and the American is advancing. Three months’ bills are discounted at | per cent. Colonial stocks generally have declined 1 per cent. ' - ,•' . "• .

£ S; D: £ s. D. Milk, quart ... 0 0 d to 0 0 4 ] Butter, fresh farm, lb 0 0 7 1 Butter, separator ... 0 0 9 to 0 0 10 ' Salt butter 0 0 7 Cheese ... 0 0 44 to 0 0 5 Loaf 0 0 54 Egg?, dozen (fresh) ... 0 0 9 to 0 0 10 Bacon, lb 0 0 74 Ham, lb ... 0 0 8 Fowls, pair 0 3 0 to 0 3 6 Ducks, pair ... 0 4 6 Geese, pair .., 0 5 0 Turkeys, pair... 0 1 0 FhouR MArkE?. £ 8. D. £ S; Dj Stone flour ... 1 ... 7 0 0 Roller flour 7 15 0 Pollard... 3 10 0 Oatmeal 9 0 0 Bran 2 10 0 to 2 15 0 Hay and Corn Market. £ s. D. £ s. D. Maize 0 2 6 Oats, feed . 0 1 8 to 0 1 10 Wheat, milling 0 § Fowl ’Wheat 0 2 8 Rye Corn 0 3 3 i Seed Barley 0 4 0 Carrots... 1 10 0 Hay, ton 3 10 0 to 4 0 0 Oaten, ton ... 3 10 0 Straw, ton 2 10 6 Chaff, oaten sheaf ... 3 10 0 Wheat, straw 2 5 0 to 2 10 0 Onions, per lb 0 0 1 to 0 0 14 Potatoes . 1 15 0 to 2 0 0 Potatoes (new) 5 0 0 Potatoes (kidneys) ... 8 00 Seeds £ s. ’ D. £ s. Ryegrass, Farmers* lots ... , ... 0 2 9 to 0 3 3 Ryegrass, Machirte dressed . ;i 0 4 3 to 0 4 9 Cocksfoot,lb .., 0 0 4 to 0 0 54 Wt. Clover, lb 0 0 10 Red Clover, lb 0 0 9 Alsyke, lb 0 0 9 Cow Grass, lb... 0 0 9 Timothy, lb 0 o' 4 Linseed, per ewt 13 10 0 Rape, per cwt 1 5 0 Circular Heads 3 0 0 Breeze’s Prolifics ... 3 0 0 Brown Rivers 2 10. 0 Carter’s Red Skins ... 3 0 0 Magnum Bonum 3 0 0 Lapstone Kidney ... 3 0 0 Prince Regents • ... 3 0 0 OamaruSeed DerWenta 2 10 0