COMMERCIAL.

New Zealand Times, Volume XXIX, Issue 4126, 11 June 1874, Page 2

COMMERCIAL.

LONDON MARKETS. LATEST INTELLIGENCE. AVe have been favored bv Air. Tolhurst, of the Bank of New Zealand, with the*following produce telegram from the New Zealand Loan and Mercantile Agency Company Limited, dated London, 27th May, 1874 : Wool.— Up to date ICO,OOO halos have been sold; scoured, market unchanged ; clothing washed, market unchanged ; combing washed, market firmer ; crossbred, market firmer ; greasy, market firmer. The prospects of tho domestic clip are good. Tallow. —Public sales of Australasian have comprised 4000 casks. Mutton, 395, per cwt. ; beef, 375. per cwt. Leather. —Best sides showed id. decline on pro* vious rates, others in proportion. Wheat. — Adelaide is worth GCs. per 490 lbs. NEW ZEALAND HEMP. From the Manager of the Union Bank wo have received a copy of -Messrs. Schroedcr and Mortleman’s monthly market report, dated April IG. They state: — Business in this article has not been quite so active latelv, and prices are rather lower. At auction 20G0 bales have been offered, and about 700 bales sold, in some cases at a reduction of 20s. per ton upon the last public sales. Further arrivals have come in to the extent of 1520 bales, and the stock at Ist of the month was 2300 tons against’GOO tons same time last year. The market generally is inactive in sympathy with Manilla hemp, which is again offered at lower prices for forward delivery later in the year. The spot price of this article being nominally .€33 10s. to £34 10s. for fair current quality. WOOL, The following reports arc from the European Mail of April 17: — Messrs. Charles IJalme Sc Co. have nothing new to report as to the position of the wool market since the date of onr last issue, beyond the arrival of a further proportion of the shipments afloat, bringing the quantities to date up to 204,277 bales. The slight private inquiry which wc noticed as existing some time back lias since rather subsided, and it is evident that any such demand was limited only to the most pressing temporary needs on the part of consumers, who, in view of the heavy expected shipments for the AprilMay sales, had, through excess of caution, neglected to supply themselves sufficiently to tide over the interval, Tiie paucity of stock held in the trade, which such a circumstance reveals, is no doubt to some extent a favorable feature —it would, also, however, indicate a rather widely prevailing expectation of being able to purchase on more favorable conditions later on, and it remains to bo seen how far the generally depressed condition of trade, which has already exercised a marked influence in other branches of produce, may ho felt in the case of our staple. Mr. Jfclmuth Bchwartze reports as follows:—Tho arrivals for the second series of sales, which is to commence on Tuesday, April 23, comprise up to date 204,2G2 bales, which quantity may, during the next fortnight be further increased by about 35,000 to 40.000 bales, giving a total for disposal of about 240.000 bales. A firm trade has prevailed in the market since the close of last sales. The complaints of bad trade, and of the difficulties of obtaining profitable returns, continue indeed, but though in some instances well founded, it is doubtful whether they arc as generally applicable to tho condition of the industry as they were some time ago. Stocks meanwhile ure everywhere low, and tho interval since last series has seen frequent signs of a disposition of consumers to buy at last sales' rates. The transactions have been rather more numerous than is usual between two series, and would perhaps ho still larger, were the habit of using private sales for the disposal of wool more general among holders. fn the face of so large a series this activity is a good sign, and if the circumstances which produce it continue, the heavy supplies to be brought forward may exercise loss pressure than is anticipated in some quarters.