COMMERCIAL.

Timaru Herald, Volume XLIII, Issue 3966, 24 June 1887, Page 2

COMMERCIAL.

ENGLISH MARKETS. The National Mortgago and Agency Company of New Zealand (Limited) report under dute, London, May 6th, as follow 3: — AVOOL. The second series of colonial wool sales for tho current year, which commenced on 22nd March, was brought to a close on 23rd ultimo, having thus occupied, exclusive of five days for tho Easter recess, 24 sittings with a daily average of 9972 bales. The quantities dealt with during tho course of tho serie3 arc shown m the following statement, viz : — Bales. N. S. Wales & Queensland 67,000 Victoria 63,000 South Australia 31,600 Western Australia 8.100 Tasmania 2,700 New Zealand 43,100 Tot.il Australnaiun ... 220,800 Capo and Natal 25,700 Total 246,500 The attendance of buyers was fully representative, and well maintained throughout. Competition, which nt the commencement, came chielly from tho foreigners, received on the resumption of the sales after Easter, further force owing to the increased volume of operation on the part of the Homo trade. Merino wools opened weak all round at an average reduction of 5 per cent on February closing rates, tho doclino being moro marked on faulty, skirfcy, greasy wools than on scoured descriptions. As the salo progressed price 3 for merinos gradually hardened, and at tho end the initial dcelino was not only recovored|but a slight improvement on February closing prices was established. Crossbreds met with a good demand, especially from the home trade, foreigner taHng rather less than has been usual for some time past. The fineßt grades were strongly competed for throughout tho series, and commanded the best rates of January. Medium qualities and wools of poor breed and character were less wantod, and sold irregularly, while coarse, deep-grown wools, which opened on a slight advance on February rates, were m strong demand until within a few days of tho close of tho series, when, m sympathy with domestic wools, a slight reaction took place and prices ruled m buyora' favour. Lambs of the beat class, both m merino and crosshrcd were wanted, hut faulty, shabby parcols were neglected. The quantity of Now Zealand wool catalogued was 48,385 bales, as against 38,309 bales at the corresponding series of last year. Tho clip from this colony now being marketed compares unfavorably with that of last year, tho merino wools with but few exceptions being inferior both m growth and condition, while a largo proportion of the crossbred wool from the South Island is tender and heavy m condition. wnEAT. A few day 3of warmer weather at the commencement of the past fortnight gave promise that the backward st ite of vegetation would soon recover lost ground, but the favourable change was of short duration, and a return to cold wind and rain has again retarded the growth of the young wheat plant. The plant is healthy, but it is fully expected that the harvest this year will bo a late one. A more cheerful tone haß pervades! the market, and an increased consumptive domand has existed, with the result that prices have advanced 6d and Is per quarter, the larger figure being shared by American, English, and Ruesian descriptions. Imports and farmers' deliveries have been short of estimated requirements, the imports of flour m particular having decreased considerably. Both tha quantity on passage and the " visible supply " show a falling off, that of the former being accounted for by the fact that several cargoes of Californian wheat have arrived at ports of call, the majority of which havo gone to Liverpool to fill speculative requirements. There is Ecarcely any Australian wheat on offer at present, and a disappointing yield is reported from Adelaide. It is estimated that about 200,000 quarters have been shipped from all sources up to dute. Continental markots havo been generally firm, and the stato of their crops is said to bo as buokward as our own at present. The import duty on wheat m Italy h:i3 been increased from 2s 5d to 8s 9d per quarter. Tho Imperial average price of British whoat for the past two weeks is given at 32s 6d and 32s 8d per quarter respectively. Ex stand, some retail sale 3of Australian and New Zealand wheat havo been made at 6d advance. Flour, notwithstanding diminished imports, has been slow of eale and shows no improvement. Barley is only m small request. Oats are m fairly heavy supply, and tho demand for seed purposes having stopped, sales are difficult even at tho reduced figures. There aro no New Zealand beanß or peas on tho market. A fow transactions m Cocksfoot grass seed have been recorded at current rates. The quantity of wheat on passage or shipping to the United Kingdom is now 1,638,000 quarters as against 1,792,500 quarters a fortnight ago and 1,88 1,000 quarters for the cor responding period m 1885. The American "visiblo 3iipply " is given as 47,313,011 bushels SECompared with 50,013,183 bushels on the 20th ultimo and 43,249,000 buaheh at tho samo timo last year. We quoto present prices ox granary as follow, viz : — Wheat, Australian, 36s 6d and 37s 6d per 4961bs ; Do. New Zealand, longborried, fine, noin , 35s and 363 per49filbsj Do. shortberried, fine, n0m.,31s 6dand 35s 6d per 4961bs ; Do. medium, 33s 6d and 34s 6d per •49G!bs. Flour — Australian, superfine, nom., 26s and 2fis Gd per 2801bs (gross) ; Do. i v ewZealand, fino nom., 21s and 23s per 2801bs. Barley — Now Zealand, No 1 nom., 34s per 4481b5; Do. No 2 do. 25s and 30s per 4481b5. Oata — Now Zealand, heavy nom., 28s and 30s per Imperial quarter ; Do. ordinary nom., 17s and 223 per Imperial quarter. Beans — New Zoaland, No 1 norn , 35a 6d per 5011bs; Poa3— New Zealand, averogo nom., 33s and 34s por 5041bs ; Do. wrinkle nom., 50s and 60s per 5041ba. Cocksfoot— New Zealand, 38s and 55s por 1121bs (nett). TALLOW. Offored at public auctions, T3249 casks ; sold, 1833 casks, At both sales tho demand

was poor, and buyers only purchased for absoluto needs. Fine qualities of both mutton and beef were neglected, and declinotl Gd to Is per cwt., whilst, tho same reduction took place m the values of both i medium and common descriptions. Tho quantity sold was chiefly taken on continental account, and was of middle class quality. A weak tone prevails m the market generally, and the large Btock on hand does not tend to dissipate tho existing depression. Homo melt has been m shorter supply, but has been quite adequate to tho meagro demand exhibited by our own consumers. Advices , by cablo give the shipments from Australian ports alone during April as 3300 casks, against . an equal number of casks during the same . month last year. Wo quote : — Australian and New Zealand mutton, fine, 23s to 23s 6d per cwt ; Australian and New Zealand mutton, medium, 22s to 22s 9d per ewt ; Australian and New Zealand mutton, common, 203 to 21s per cwt ; low and mixed sorts, 17b Gd to 19s Gd per cwt ; Australian and New Zaeland beef, fine, 22s to 23s per cwt ; Australian and New Zealand beef, medium, 20s Gd to 21b 6d per cwt ; Australian and New Zealand beef, common, 18s to 19s Gd per ewt. Estimated stock m warehouse, 17,200 casks. Stock on 20th ultimo, 13,300 casks. MEAT. No feature of importance haa occurred m ' this market. On several occasions Bupplies have been somewhat heavier than the trade could bear, and low prices had to be accepted to effect clearances, but as other times, when supplies were light a healthier tone prevailed and the market showed signs of inherent strength. At no time could the domand have been called brisk, but a fair trade has been done on the fortnight, taking ths changeable weather and all other circumstances into consideration. Frozen mutton has declined m value to a slight extent, and, although no alteration is made m quotations, tho greatest number of sales have been made at the lower figure. The provincial trade has been fairly good at prices on a par with those of tho metropolis. The stock on hand is now very heavy, tho recent arrivals aggregating 50,000 carcases of mutton and 13,000 lumbs. Sales m any qnantity Btill continuo to be a matter of difficulty, the lamb trade especially being most inactive. Prices of Falkland Islands mutton are 3}d to 4d, Melbourne 3£d to 4Jd, and River Plate 3}d per lb.