COMMERCIAL

New Zealand Times, Volume XLX, Issue 8166, 18 August 1887, Page 2

COMMERCIAL

New Zealand Times Office, Wednesday Prom the New Zealand Loan and Mercantile Agency Company's circular, dated July 1, we cull the following The firmer tone in the wool market, to which allusion was made in our last issue, became more pronounced shortly after the departure of the mail and, speaking broadly, the level of last sales’ closing rates was very speedily regained. Under the _ influence of steady competition from the various sections of the trade this position has since been well maintained, whilst owing to free buying on American account, good shifty merinos, suited to United States requirements, have occasionally realised rather more money, and fine crossbreds have advanced_ Jd and Id per lb as compared with the closing rates of fast aeries. A special feature of the American demand has been the purchase of some of the medium grades of cross-bred, where these are well grown and fairly light in condition. Wool answering to this description has accordingly realised relatively high prices, The only classes of staple which fail to command last sales’ rates are short, wasting merinos in the grease, and faulty scoureds. These descriptions sell irregularly and_ are occasionally rather easier in price. Merino lambs, if well grown and free, continue ready of sale, -but inferior sorts are neglected. Cross-bred descriptions meet a steady demand at late rates. No sale was held on 21st ultimo, that day being obncrvocl m tbo 3 übiloo holiday. Aa ut at present arranged the senes will close on the 15th instant, but it is possible that a further,.curtailment or the programme will shortly be announced. Up to date 228,379 bales have been catalogued, as follows : —New South Wales, 50,957 bales ; Queensland, 11,000; Victoria, 71,750; South Australia, 9060; Western Australia, 7039; Tasmania, 9912 ; New Zealand, 72,240 ; Cape of Good Hope, 10,-121; total, 223,379 tales ; of which about 10,800 bales have been withdrawn. The following are the fresh arrivals for the fourth series :—New South Wales, 16,111 bales; ' Queensland, 4528; Victoiia, 30,673: South Australia, 4099 ; Western Australia, 49 ; Tasmania, 2696; Mew Zealand, 40,974 ; Cape of Good Hope, 83,366 ; total, 132,496 bales.”