COMMERCIAL.

Poverty Bay Herald, Volume XLIV, Issue 14196, 13 January 1917, Page 8

COMMERCIAL.

The Bank of -New-; Zealand's produce circular, dated London^ November 14, states: The sevenAh series , of sales oommenced Here on 1 24 th ult,,< and terminated on 10th inst., the quantities available and catalogued being as follows, viz: — Net available 109,958 -bales, catalogued 108,426 bales, bought m and not ottered 'B4oo bales., Of the .total quantity sold some- 6000 bales were taken lor export. We : ha.vo again to chronicle anojther -highly .satisfactory series ot sales, the- whole tone of tho market being excellent, and the results/ which wire' rather Uetter than generally iexpectbd, clearly emphasises the soundness of the raw 'material.- There has' seldom 'been a. better buying spirit, competition tm'oughbu6 being •of the most animated description. '•■ The various* sections 'of the 1 Home trade have, of ooui'se, again befcii -the principal operators; -'And' th eve ! *has been ; a persistency about the bidding -which showed that buyers have the ttit-most confidence in' the future of valued. i The oommawdeering of the A H6mier- clip ha^ evidently not," Ai ter a-B, been that disturbing factor m .the tra^Joi which at one time looked likely. -The- Consumption 1 of wool continues on a colossal scale,' and with' little prospect of diminution m this respect, it is ■ hardly surprising j. with the limited ■ quantities available that jirides are still m the 'ascei\dant. Then, again, the known scarcity oi really good wools is not without its effeot upon the market, ( the distant date <>f ths a.rrival of the now clip also being a contributing factor. Tho labor question ii» the 1 consuming centres whWh atone time presented serious difficulties, hsl& ■ been • somewhat relieved by .tlte infusion Of , f'einale lkbor on a. rather; more extensive scale than formerly'; arid absolution 1 ;' even if orily. ; t»artial;' of ihip V-ery kti(btty i problem, would un.doiubtedly be of . the •gr'eaWat assistance '■id manufacturers. Clearry^' the trade oduld nob be expected to o'perata very extensively Unless fair proKpects- vrere ensured of mbvhig their purchases into Qonsumptioh within; & feasitniabld time. HcrinoS': At the opening, prices ruled ill' sellers' 'favor; b.iub as the .sales 'progressed tho " market showed' 'a -'strong hdrdeniiig tendohcy. Tlie scaiity sdpplies- of itierinfoj* available have met with a keen demand, especially .'.■ as ragards combing 1 jji-adfes,, ' Sr/hetlier " gfeasy'. or scoured., and at the close these were 10 to 15 .per cent. . dearer ithan, at the close of last series. Short and faiulty sorts also improved: from the commence* ment, but 'the rise on them does not amount to moiij than 5 to 7£ per ceht. Earlier m the year the trade lield the •opinion that meriiio values had about reached their maximum, but apparently ■ there, is no eiid to the rise 'm merino combing^ and , the ; prices paid at these .saJea ' show unhustakably the value of good combing stock: O'oscbreds > Naturally .a.fc -this '•■ period of the season offerings of ' good greasy s fleece liiy-a', been, very limited, ' but on . the whole {ho ' selection has' ..been, wonderfully' good, t '.all' descriiptKyns ' r irtfietang with a strong aaid. ihsistellt' deniand thixiughout. . The OjJenuig , showed 'an all-round advanoa.of' 5 pel' cent., but' considerable intpro'vement": vr&s manifested tlui'ing tho second • week, ' and at the close prices ai f e 10 Ao 15 pel? bsnt. .■ m excess pf . those . current ,, in' . Septeniber. There semed to be 'a' stroii'ger deniand for -Jfine crossbretls theayaiiy" other class, b^th scoiU'ed and V New Zealand wools realising /'tup 5 to 2s S^d per, 1b for aii excellent i'loV of. gi<easy A hdlf-bred. (■Jrcasy croiSsibred , lambs were lUther irregiil4r hi the eai'ly pa«t of the salesy but hardened towards the close to 5 pfti". cent, m advance of tlie 'previous sales' closing xates. Slipes t and '^coureds oo^n-fprised thdi bulk' of -the -offerings, there being an ■ excsllent, selection of all the- well-known brands : of .the former classy ITie 1 prices ruling. for sh'ped cari'iibt but,',fadl to^, give ■" complete s^tisfac- , tftin, espacially jix-view of .'general ex^, irectations favoring a slight reaction ' on.^ account bf the largo ( quaiitftie^ available, 'trices ■of these wools ai'e, of ■course, tilomiriated,' by the dfe^naaid for khaki, so that 'the present appreciation- m values is not .altogether surprising when the, extraordinary oonsurriptilbn is taken irito account^ Tlie opening, showed little change compared to7ithe< previous; _ sales'; unlesrf perhaps 'for ? half-bred Tamils, which ' were slightly dearer. , .Later on, however, due to the .placing of ' fresh khaki orders, 1 there was 'a marked allround improvement m vafuefj for all descriptions,' 'wluclt ' was .fitlly '^maintained to, the'.^nd^ the, fise.-on slipe wools' being

10 to 15 per cent, above last series' parity. iScoureds were eagerly competed for, the advace recorded being; fully 10 • per cent, above September series. In view of the very healthy state of trade and the small quantities which are likely to be available next serieSj we confidently look for at least a maintenance of the present high level of values. Frozen meat : There has been very little . change m the general conditions at Smithfield, where supplies have been moderate j ajxd mutton and lamb sell readily at current prices. Fair supplies of Scotch sheep and lambs are now on the market, the demand^ for which has been fairly good. The supply of River Platte mutton continues light. Recent supplies of Argentine beef have been heavibr, and the demand has not increased m proportion, consequently the market has not always cleared, and prices are somewhat ;lower. Qurrent § rices (ex store) : NeHv Zealand sheep |d and Bgd; ewes Bd anil B£d New Zealand lambs 9£d a£d 9|d. . j