FINANCE AND TRADE.

New Zealand Times, Volume LXXII, Issue 4823, 28 November 1902, Page 6

FINANCE AND TRADE.

Tho Customs revenue received yesterday totalled £2078 12s Bd. Dalgoty and C 0.,. Ltd., Christchurch, have received the following cable message from London, dated 26th inst.: — The tallow market, is unchanged, and there is very little demand. Tho Department of Industries and Commerce has received tho following cable from tho Agent-General, London, dated tho 20th inst.: —Wool,sales have commenced. There is great competition and a largo number of buyers. Continent is buying ■ crossbreds largely. An advance of one penny per Jb has been established in all .grades of crossbreds, and halfpenny per lb in fine merinos. YESTERDAY’S WOOL SALES. Messrs Levin and Co., Limited, report;—Die first wool sale of the now season was held at tho Art Gallery, the various broket's offering 1000 bales. There was a fair attendance of buyers. The sale was held under the favourable influence of the news from London regarding the opening of the .November sales there, and all lots were well competed for at enhanced prices. ' There was an all-round advance on the prices current this time last year of lid per pound, and it was cheering to see the coarse wools, which comprise so largo a proportion of' Wellington catalogues, participate to tho fullest extent in tho advance. The following table will show tho movement of prices as comparoa with tho sale in November, 1901: — Last year’s Yostor- ■ prices, day’s. Sup. fine crossbreds ... 3| to 4 5 to 5; Med.crossbred and Rom. 3 to 3j 4j to 5 Coarse crossb’d Lincolns 2| to 3i Log-stained and superior 2 to 2) 3 to 4 Pieces and bellies ... lito2 2 to 3 Locks ... ... ••• ito 1 1 to 2 There wero no fine wools catalogued last year, but parcels in yesterday’s sale brought 91d for merino and 6Jd to 7<i for half-breds. One word of warning to growers: It is not desirable in their interests that there should be witnessed a repetition of tho events of two years ago, when, after a sharp advance in prices at tho early sale, growers piled their clips upon tho local market with all sorts of absurd reserves, tho result being that Ibt after lot was passed in, and the wool was eventually sold in London at considerable loss. Ruyers take umbrage at the waste of time occasioned in Wellington in valuing wools which growers have placed excessive reserves on, and we would counsel growers not to send their wools in to auction hampered with reserves. A grower who would previous to this sale have taken 3fd readily for his wool should not, because of this rise, raise his reserves to sd. Tho drag of high reserves takes all the life out of the sales, to the ultimate injury of the vendor. Our wools were all shown for the first time in our new stores, Customhouse quay, which arc now nearing completion, and f proved very convenient. Tho next sale will bo held on 19th December.

Murray, Huberts and Co. report;— Catalogues were cleared at very satisfactory rates, the cabled riso in the present series of London sales' being fiully reflected in the bidding. As compared with the lirst sale of last season, prices were to-day about 35 per cent, higher. We give below prices current at the sale, as compared with last year’s sale:— Ycstor--1901 day. Super, orossb’d, bright 4 to lj- o to 0 Medium to ,fino crossbred, lustrous ... 3J to 4} 41 tool Coarse crossbred, lus ■ ■■■ Irons 3 to 3J- 4 to 4} Inferior and dingy crossbred ... ... 24 to 3} 3’, to4l Pieces and bellies ... 14 to 2 Ijto.'jLocks JtolJ lito2 Although the prices as above show a decided increase in values, wo would impress on growers the necessity, if they intend to realise in the local market, of refraining from hampering the sale of their wool with excessive reserves. The United Farmers’ Co-operative Association, Limited, report as follows: At the first sale of the season there w-as a fair attendance of buyers. The combined catalogues offered by brokers amounted to -about 1000 bales. There was keen competition, and most of the wool catalogued was sold. Wo quote as follows;—Fine crossbred, old per lb ; nodium. 41d to 5d per lb; coarse and Ic.gstainedTaTddo 4Jd per lb; pieces, 2d to 2’,d per lb ; locks, Id to 2d- per lb. The next sale will ho held on the 19th December. COMMERCIAL CABLES. PBESS ASSOCIATION. LONDON, November 26. The total quantity of wheat and flour afloat is 2,200,000 quarters. Shares are unchanged.

Copper, on the spot, 2C50 os per ton; three maul hs, £SQ Ids. Tin—Spot, £111! 10s per ton; three mouths, .till 15s. At the tallow sales 11G1 casks wore offered, and 20!) sold. I’rioes were unchanged. . Uteceived November 1?7, 3.10 p.m.) - LONDON, November 2G. At 1 1,wool sales 10-day competition was spirited. All classes are very llriu. According to "Bvadsuvet’s” estimate, tbo American visible supply of wheat cast of the Hookies is 72.9d8.tW0 bushels. NAP IKK, November .27. Tbo Colonial Consignment mid Distributing Company cable as follows to Messrs Nelson liro.s., Tomoana; —"Frozen meat quotations—Camorbury mutton, i;d per lb; .Napier. 'Wellington an- 1 North Island, 4Jd. Lamb, first quality 5Jd per lb; second, 53d.”