THE LONDON MARKETS.

Otago Daily Times, Issue 9148, 22 June 1891, Page 2

THE LONDON MARKETS.

Wool—The National Mortgage and Agency Com pany in their circular dated lblh May report ihat at the wool aiiles which closed _on tho -Bth ult. New Zealand merinos ac a alight advance on February rates, but subsequently lost ground until at the close prices ruled from jd to Id por lb under opening values. This, decline was due ta great measure to the very unsatisfactory results obtained from the earlier purchases, and mi indeed anticipated by many owing to the Indifferent growth and Tery heavy condition of the merino clip now being marketed. The finest grades of crossbred when well grown and light in condirion commanded - much attention, and coming under American competition sold firmly throughout at full February values. New Zealand growths of good quality but somewhat wanting in length and condition met with a ready aale, bat at no period of the series reached tbe extreme prices paid in February, Medium and coarse wools sold throughout at values about on a par with prices current in February, New Zealand crossbred* from tho South Island are this season inferior in growth and heavier in condition than last year, much of the wool being very earthy. Binoe the close of the sales the markets both on the Continent and at Home have been very quiet, and np to the present time tho improvement in business looked for during the current month bas not taken placs. Of the 310,677 balls whioh arrived to date for the thirdseries, 102,855 bales were from New Zealand. Wheat.—The same company report:—New Zealand car(*oes, shlppiog or shipped, were driven up by speculators to 43» tid, Bnd ono sale was made at 4.s Sd, but they havo slne9 been neglected and there are no buyers to-day over 'Is, although sellers offer at 42s per 4.01!>. The Firth of Dornoch, arrived at port of call, has been ordered to Cork. On tho spot fine white wheats are firmly held, and although tha Interim advance his bsen lost, they fully maintain our lait quotations. The market is alraoat bare of New Zealand, but suppliei of Australian have been augmented by recent arrivals. Flour is dull, and has lost Is per eack of tbe recent advance. Australian brands have been more Inquired for. Hew Zealand barley haa been in batter demand, obitfiy for grinding purposes, an the malting season is now practically'over. IVew Zealaud oata, after sharing in the general advance for feeding stuffs to tbe extent of Is per quarter, clorre quieter at about our laafc quotations. Hew Zealaud beans are nominally Is fid per quarter dearer, but supplies are exhausted. The imperial average price of British wheat for the past lour weeks ia given a3 395, 40s ld, 41s ld, and 41s 4d per quarter respectively. Cocksfoot.—Thi New Zealand Loan and Mercantile Agency Company report under date 16th May: — The season ia now over, and, contrary to general expectations, a considerable quantity of seed remaina on hand unsold. The high prices ruling in Hew Z.aland have tended to strengthen the market here, but buyers appear indisposed to operate at present quotations in anticipation of next Beason's requirements. In the absence of recent business, quotations ara quito nominal; but as an indication of values, it may be mentioned that laat aale reported of fine 171b yearling seed was made at 595, while fine, bright, new Beed realised 82a per cwt. Habbitskina,—The earae company report:—The demand at the auctions of the 17th uls. was well*. nnd of 597 bales brought forward only 460 bales f ousd buyers under the hammer. Australian Bklns were about ld per lb lower all round, ordinary and low quality Hew Zealand .kins exhibited a similar decline, but good season's Hew Zealand, whloh were very Bcarce, maintained their previous level. Furriers wero aj-aiu In the market fer. black akins suited to their requirements, whioh consequently commanded full prices. Wo quote:-Good to prime Hew Zealand skins averaging ljlb so 2§lb per doz, ls B|d to ls 9Jd per lb; fair ordinary to good Naw Zealand skinß averaging Jf'.b to 21b per doz, ls 3d to ls 7_l per lb; common and low season New Z.aland skins averaging lib to 2|lb per doz, 6d to ls 2d per lb; black and fawn New Zealand skins, 9d to 2s 2Jd per lb; small and Buckers New Zealand skins averaging jib to fib per doz, s}d to 9d per lb; fair ordinary to good Australian 6kins averaging ljlb to 2jjlb per doz, B_d to Is 3_d per Ib; fair ordinary to good Australian sklna, ljlb to 2|lb per doz, S_d to la 3_d per lb; common and low ae.Bon Australian skins averaging Jib to 2ilb-*er doz, 3Jd to B|d per Ib.

Sheepskins.—The Bame company report:—"The periodical auctions were held here on the 30th ultimo and Ist instant, and were well attended. The quantity catalogued amounted to 3520 bales, all of which where sold under the hammer. As compared with previous sales' rates, crossbreds were firmer, and occasionally realised _d por lb more money, medium and short woolled merinoß being unchanged, while longwoollf d merinos were in some inadance \d per lb lower. We quote:-New Zealand merino threeqaarter and full-vroolled, 7Jd to 7§d per lb; do half-woolled, &_\ to 7d; do quartorwoolled and shorn, 4Jd to s_d; crossbred fnll■woolled, medium, and fine quality, 7|d to Bjd • Ao 1 ull-woolled coarse, 6Jd to 7.d ; do quarter-wo.lled and shorn, 4|d to 5Jd. Butter.—The National Mortgage and Agency Company roport: -Butter hns been alow of sale, and ■with warm weather has declined steadily. The latest arrivals from New Zealand have not been so satisfactory either in condition or quality. Wo report' Prime Normandy 9_j to to 116s per cwt; New Zea-land-snod 70s to 80s. infetior 58s to 08s; American 64s to 90a,

Cheese.—Messrs W. Weddel and Co. report :—With ■warmer weather there haß been a quiter demaud for aU descriptions, and prices are Is to 2s lowor per owt oa the fortnight. Finest American and Canadian is now quoted at 56s to 595; best Hew Zealand, 50s to 565; and secondary, 44s to 48s per cwt. Frozen Moat.—Messrs Nelson Brothers report: - Hew Zealand mutton has continued in exoessl'eiiF.ly,- and while really prime ca*cases cob>- '_ fully 4_d per lb, ordinary 7et to Bst-Bl*- -"aal} d realise from 3fd to Sid, and -5eP on'y light weight Bheop are a dr- beavy or mutton naturally feels »• -•£• Australian petition of cheap New 7* -os severe cornBlow progress is being w .*aland meat, and but ment cf Queonalan 5 .jde with the large conaignEiver Elate J**" -^ sheep per s.s. Maori Kine. Tha capa.<* .utton i& also fairly plentiful, that ti" *sy of the carrier steamers in Ho*-*-' s_e is being materially increased, the

" .aby Grange bringing fully 59,000 carcases, jn'ew Zealand lambs have met with moro demand since the weather became warmer, but the inquiry is still unequal to the supply. 165,000 larabß have already come to hand this season, as compared with 110,000 to Bjma data last year, and 98,000 in 1869. The average quality, until recently, has been decidedly poor, and the price equally unsatisfactory at about 4_d per lb ob the general .quotation, while best carcrws only realise 6d; thsra'is, consequently, p'enty of room for a substantial advance on current rates. American beef supplies give indication of coming shorter, the price of cattle having advanced, owing to increased value of feeding stuffs. Hindquarters are to-day making fid. Frozen hinds have met with steady demand at 4_d to 4fd, but forequarters have been recently nojrlectefl in sympathy •with American. The market closes firmer.

Hemp.—Mr C. Spurling reports:—Despite the trifling supplies of Now Zealand hemp brought forward at auction [since my last advices of 18th nit., our market since has not only been very quiet but prices throughout the month have shown a drooping tendency, and with IrheexoepMon of common and middling qualities, most descriptions show a decline of 203 to 30s per ton on the rates of last month. Except for the stringency of onr money market, precluding speculation, and the increased dullness and fall in the value of Manila hemp, it would be difficult to assign any catisfaotory reason for tho recent decline in New Zealand, the more so as our spot Btocks are amall, and arrivals very moderate. Tbeß. latter comprise tho Mamari, Northbrook. Aorangi, Brablock, Pakeha, with a total of 3d89 b^es of hemp, cf which 1599 bal.s are for transhipment to tha United States. Now that the value of New Zealand hemp for ropo-maklng purposes is coming to be butter understood and appreciated here, it is to be hoped that the finer qualities will also be better appreciated than of late In our English markets, or a oessation of these shipments to this country will most probably t-ike place, and thus drive into the hands of our transatlantic opponents supplies that may ultimately be required here. Our supplies at pnblio sale Elnco lSth ult. have been only 2350 bales, of which barely half have been disposed of, comprising amongst others tho following mark-i—Good to fin'—O in diamond. £23; 8011, £23 10j; N3, £!2 10s; GB, £11; JH, £21. Fair to good fair—HAP, £20 10s*, LOUTH. £20 )0-; O & W, £21 ; Glen. £21 10a; OP, £22; MAB, £21; Premier, £22; 08/ H, £32. Middling to barely fair— Stratford, £21; J&TT. £20 15s; Orona, £21 *, Glen, £31. Common to middling—AM, £19 16s. Although Btill very quiet, a slightly better inquiry has existed during the past day or two, and business Is more readily done in New Zealand hemp at Borne allghtImprovemont on the lowest ratea obtained during tbe past fortnight, Manila hemp throughout the month has been drooping and depressed, bat at the deoline of 20s to 30a per ton a considerable forward business ha 3 been done In distant shipments. MayJuly, c.i.f., seconds, £30 to £31; fair current, £33 to £33 10s ; good, £33.