COMMERCIAL.

New Zealand Times, Volume XXIX, Issue 4124, 9 June 1874, Page 2

COMMERCIAL.

The scarcity of maize in the market just now, led to a crowded attendance at Mr. Thomas’s sale yesterday, when 400 sacks -were offered. The bidding was very spirited, and in less than a quarter of an hour, the whole quantity was knocked down to various bidders at prices varying from 7s. 3d. to 7s. Od. Shipments coming to hand during the coming week would realise an equally good figure. WOOL SHIPMENTS FROM VICTORIA TO AMERICA. The shipments of wool to the United States direct for the season 1873-4 (says the Melbourne Aryns) were much smaller than those for either of the two former seasons. Only four vessels were sent direct this season —the Maggie Leslie, the Prince Arthur, the Laura, and the Manila, which were laden as follows:

This large falling off—fully one-half—in the direct shipments of wool from Victoria to the United States is doubtless to be attributed to these two causes. First, to the alteration in the United States tariff in 1872; and, next, to the panic in New York, Boston, and Philadelphia, in the latter half of 1873. The manufacturers in the United States can now get what Australian wool they require from England under their tariff for 1872, without the additional 10 per cent, duty which they had to pay before on all wool imported from beyond the Cape of Good Hope, unless brought in their own vessels. That, of course, is an advantage in many respects to them, without being of any farther disadvantage to us than that of not having them as competitors in our market in the wool season. They must still have our fine wools to use in many of their fabrics, and if they do not get them from us direct, they will have to get them from the markets to which we send them. Their import of foreign wool from all quarters, as we showed on May 0, amounted in 1873 to upwards of 40,000,0001b5. With those figures, the 2,700,0001b5, we send them this year, do not admit of a comparison. For the figures for 1873-4, we arc indebted to Messrs. Newell and Co. THE DUMPING OF WOOL. Complaints have recently been received from England as to the injury done to New Zealand wool by the process of dumping. The following letter on the subject, from Messrs Kinross and Co,, appears in the Ha tvke'if Hay Herald :— “ Our attention has been directed to a letter in your paper of Tuesday .last, from Mr. Arthur E. Russell, on the subject of dumping wool. There is no doubt many of our New Zealand wools, especially those being in grease, materially suffer from excessive dumping. Were the wool-growers generally to take the matter up, the remedy would lie in their own hands, by the pressure they would bring to bear on the shipping companies. The New Zealand Shipping Company, for instance, is largely composed of runholders, and, by combining, they might secure the discontinuance of undue dumping in their large fleet of ships. “As far as regards this Province, we are happy to assure our wool friends that the wool is more lightly dumped at this port than any other port in the Colony. In Wellington the hales are subjected to a much greater pressure, and captains of ships there will not accept our dump. They cut the hoops and redump the wool into much less compass. Our correspondent writes us that they thus gain on an average, 10 inches in height on each of our double dumps. Wo have repeatedly shipped home part of the same clip dumped and undumped, with the view of ascertaining if it is worth paying an extra freight for undumped bales. We have not found that the undumped wool brings any higher price in the London market. Were captains of shijis to allow their wool to be stowed, without the use of screws, no doubt shippers might with advantage pay a much higher freight. So long, however, as the present system of stowing obtains, wo should prefer sending home our wool moderately dumped. The bales are kept intact, and there Is no loss of wool in the hold of the ship.” BY TELEGRAPH. AUCKLAND. June B.—Mr. Alexander Saunders reports:—Sales: Albumin, 475.; City of London, 405.; Crown Prince, 175.; Whan, 105 s. Buyers: National Bank, 00a.; South British, 475. Cd.*, National Insurance, 295. Gd.: Bright Smile, 100 s.; Caledonians, 190 s,

Vessel. Bales. Lbs. Maggie Leslie 2001 753.000 1502 579,895 1411 653,058 Manila 2236 820,437 Totals 7X50 2,707,050