COMMERCIAL.

Otago Witness, Issue 1290, 19 August 1876, Page 14

COMMERCIAL.

New Yokk, July 15th. The record of failures for the half-year reaches 107,000,000 dollais, being an increase of 31,000,000 dollars over the corresponding half of last year. Reports from various quarters indicate a turn for the better. Last sales of sperm oil at New Bedford made at 1 dollar 21 cents, holders asking an advance. Nothing doing in whale oil, Refined petroleum, active

opening: at 16 cents, and closing strong at 17i cents ; cases quiet at 19i to 20i cents. Wool exhibits decided improvement. Manufacturers show by their actions that they are satisfied. Tno decline in price has been checked, and is more disposed to meet the views ot sellers. Boston, July 15th. Transactions in wool are larger than for a very long time, comprising 3,000,0001b5, prices remaining the same. New York, July 18th. Hides quiet, 16 to 17 cents ; wool, quiet, fine, 19 to 26 cents ; pulled, 26 to 37 cents ; whale oil, 55 to 56 cents ; sperm, one dollar 32 cents. Liverpool, July 18th. Wheat, 9a 3d to 10s. Sax Francisco. Local wheat market quiet, 1 dollar 50 cents ; barley, feed, 19 to 95 cents; brewiug, 1 dollar 20 cents ; oats, receipts large, 1 dollar 50 cents, ENGLISH SHIPPING. Arrived :— Jure 11th, Christian M'Ausland, from Bluff ; 14th, Howrah, from Wellington ; 18th, Nelson, from Port Chalmers. Sailed :— June 23rd, Waitangi, for Canterbury, 344 passengers; 28th, Mataura, for Otago, 50 passengers ; 29th, Waimea, tor Wellington, 280 passengers. The following: vessels announced to leave, July 19th, Inverness, for Napier ; 26th, Howrah, for Wellington ; 25th, W&mate, for Canterbury ; 20th, White Eagle, for Otago. ENGLISH COMMERCIAL. (FROM OUR AUCKLAND CORRESPONDENT.) The New Zealand Loan and Mercantile Agency circular reports for June 29th :—: — IVOOL — According to announcement, the third series of Colonial wool Bales for the current year was commenced on the 20th June. It is arranged to continue to the 23rd August. For some time it had been anticipated that arrivals would show heavy proportions ; but as the period approached it became evident that the actual quantities available for putting on the market would greatly exceed the calculated 352,000 bales. It was found at the hour of commencement that vessels in port and announced off coast represented 507,100 bales, of which New Zealand contributed 107,604. The attendance of buyers at the opening sale was moderately gbod, Continental consumers being fairly represented. Biddings were characterised by considerable hesitation and a- decline in prices was established, which upon all descriptions of the bsst classes of merino fleece, and greasy, and half-bred wools, ranged from 15 to 20 ocr cent, on those of the preceding series. Subsequent sales confirmed the decline observable at the opening auction, and the attendance is not ,well maintained, buyers evidently nofc being anxious in view of the long duration of the series and the large stock of - raw material to be realised to operate ■ freely, until they are satisfied that the lowest point has been touohed. Perhaps the heaviest relative decline may be noted in the lowest class of greasy wool of all kinds, and faulty sooured ; whilo superior merino fleece, gremy, and half-bred can hardly be quoted more that 10 to 15 por cent, under May rates. Cape produce likewise has suffered in a Smaller degree than Australian and New Zealand shipments, excepting in the case of unwashed descriptions, which show full re- { ductions. ...The state of depression which for .a longtime paßt has prevailed in almost all branches of woollen industry has of late culminated in very general resort to short time. This fact and the simultaneous accumulation of raw material beyond all previous record, have together produced the present serious ' condition of our market. Whether the established depreciation which brings our prices not much' above the very low level of 1869 as regards a considerable portion 0 'staples! ia fully warranted by circumstances of trade, time alone will prove ; but, in view of the probability of arrivals for November embracing some 200,000 balei, the prospect of realising more favourable results by holding over is by no means assuring. Up to la»t night, 808,084 bales have been brought to the hammer, including 170,905 bales of New Zealand. Of the above, 6700 bales have been withdrawn. The arrivals to this morning for the next series (the date of commencement af which has not yet been fixed) amount to 26,677 bales, including 4355 bales of New Zealand. Leather : —2380 bale 3 have been sold at "a decline of a farthing per pound. Preserved meats unchanged. Corn has suffered a decline. New Zealand wheat, 47s tf. 50a per 496 pounds. New Zealand hemp, £22 to £24 10s. Bank of New Zealand shares, £21 ; National, £3 10 a ; City of Dunedia debentures, £106g ; Loan and Mercantile, two per cent. prem. ; Trust and jftioan, 33a 4d prem. ; Otago and Southland investment, 30s 4d prem.