COMMERCIAL.

Poverty Bay Herald, Volume VI, Issue 857, 7 August 1879, Page 2

COMMERCIAL.

In their London circular, elated June 19th, the New Zealand Loan and Mercantile Agency Company speak as follows of the wool market : The earlier auctions were, on the whole, marked by a firm tendency m quotations, notwithstanding a alight decline on certain inferior descriptions of greasy iherino and coarse cross-bred wools generally. The latter have now, to a certain extent, recovered the position which they occupied at the opening of the Bales. As the sales progressed a brisk demand was. developed by a section of the Home and German trade, succeeded by an increased disposition to purchase on the part of French buyers. After an interval of six days, extending.from the 26th ultimo to the 2nd instant inclusive, during which an adjournment took place for the Whit-* Buutide and other holidays, the sales were resumed. With a continued increase of support from the foreign section of the trade and- a partial revival of the Home demand, a generally firmer tone was imparted to the market, although but few instances could be discovered m which appreciably higher rates were paid. Having regard to the still small proportion thua far taken by the Home trade, it would appear that their wants have not yet been adequately provided for ; and now that the conditions of business m the manufacturing districts' have become somewhaig easier, it may be reasonuble to expect a still strouger sompetition from that quarter. A marked improvement m trade m the United States has already been indirecely felt here, and although it may not have so far produced any notable reaction, it has undoubtedly inspired a greater feeling of confidence. The" wools which have commanded most attention are good Bcoured merino, and greasy merino of good length and condition. The finer qualities of crossbreds are selling freely. On the other hand lambs' wool, save the best merino, fails to attract buyers at pricos proportionate to those rolhig'for other sorts, while fleece wools and all rough mixed parcels also meet with a diminished demand under a comparatively low range of values;