ENGLISH COMMERCIAL.

Wanganui Herald, Volume VI, Issue 1845, 16 July 1873, Page 2

ENGLISH COMMERCIAL.

PRODUCE MARKETS,

Wool.—The- second series of Colonial Wool Sales, in accordance with the announcement made in our last Circular, was opened on the 24th ultimo.

Although at the openit.g sale of the series now in progress, there was a large attendance both of home and foreign buyers, the ■ biddings were not characterised by much animation. No material difference in prices for Australasian Wools on those current at close of the preceding series was established, but medium washed descriptions were slightly lower, while the lower greasy kinds exhibited an upward tendency. Cape importations were disposed of at rates shewing a decline ef-^d @ Id per lb on 'FebruaryMarch quotations. As the sales progressed a further depreciation in value of these descriptions of about £d per lb was submitted to, For half-bred washed Colonial Wools prices ! been .in some instan es irregular, in sympathy'with the fluctuations in the market for home-grown products. .With these exceptions the present serial auctions have, on the whole, exhibited a greater degree of firmness than importers generally were led \to expect.' The competition evinced; by French buj'ers has tended to enf hance, the value of greasy descriptions over the,j.'ittes,paid,at4:the; close of the March sales, the advance .secured,ranging from about @ l^d per lb^''the'latter 5 figure being applicable to the lower.rather than tothe better kinds of unwashed Wool, more especially that received from South Australia. German and Belgian operators have bought very sparingly, the; accounts received from the manufacturing districts of these countries heing less favorable than those; transmitted from- France; The support given to, the, present auctions by home as well as'by French buyers, induces the belief that stocks throughout the manufacturing districts are within moderate compass; and although 'Complaints-, are still being made by manufacturers that the price -paid;for the raw material will not admit'of a profit being secured on woollen fabrics/ it would appear, that the mere requirements necessary, to keep employed the increased ■amount'of machinery which has been erected during thepast two years are meanwhile sufficient to maintain the demand existing for Australian Wools; Thus far American orders have come —forward sparingly although there is some hope that hefore^the close of the , present auctions purchases on that 'account in ay.' be more freely made. From the figures given aboye it will he seen that' notwithstanding the prevalence of adverse, winds prior to the 24th ultimo the arrivals for the -April-May series of the present year considerably exceeded those of the year preceding. .--.The importations from South' America show quite opposite result, the jjjiipaients from the River Plate being some 40,000 bales less than at the corresponding date last year, although it is ascertained tijatitha increased production of suoh Wool is c nsiderable. More ample supplies from th.it quarter may, therefore, be looked

for to arrive as the season advances, and these will be taken in satisfaction of a certain portion both of home and foreign manufacturing wants. The present sales will be brought to a close on 31st May. The arrivals for the Juh'/August sales to 14th inst. amount to 55,473 bales, 17,913 being from New Zealand.

Tallow.—At the four auctions of Australian i allow held between 18th ultimo and 9th instant, 3,530 casks were catalogued, whereof only 2,262 casks found buyers at rates which exhibited a decline of about 6d per cwt. on our quotations of last month. The range of prices secured for Mutton was from 37/ @ 43/3 per cwt., and for Beef from 36/ @ 41/6 per cwt. Trade throughout the period named has been very quiet, and although the stock of all kinds, when taken on 12th instant, showed 25,108 casks, against 29,415 casks at corresponding date last year, the weekly deliveries have been extremely light, and have not kept pace with the importations during the four weeks prior to that date. The Australian and New Zealand mails delived on 12th and 13th instant brought advices of a continuance of moderate shipments having been made during the month of March, comprising in all about 3,500 casks. As the quality now afloat from Australasian ports is considerably less than at tlie corresponding date last year, this favorable feature must naturally affect the market for "sorts" Tallow. The recent advance in the Bank rate of discount has prejudicially influenced the price of P. Y. C. on the spot, and our closing quotation for " new," given below, will be found to exhibit a decline on that of the previous month. The public sales to take place this duy comprise 813 casks. Market quotations are as follow : —P. Y. 0., new, 43/0 ; Australian Mutton, fine, 43/0; Beef, 41/6 per cwt.

New Zealand Hemp.—-During the past month the market for this fibre, following the course of Manila and Sisal Hemp, has still further given way, a decline varying from 30/ @ 60/ per ton having been submitted to in order to effect sales. Three public auctions have been held, at -which 1,659 bales Hemp and Tow were offered. Of these only about 300 bales wore placed under the hammer, consisting- chiefly of damaged lots. Quotations based on recent sales are as follow :—Ordinary to middling, f partly cleaned £22 15/ @ £27 5/ per ton; fair to good dressed, £27 10/ @ £30 per ton ; Tow, £10 @ £14 per ton, according to quality. The present position and future prospects of the article are most unsatisfactory. There exists an utter indisposition on the part of biryeis to so into stock, and this feeling is confirmed by the decrease in the monthly deliveries in the present as contrasted with those of the past year, comparative statement of which is subjoined. While the deliveries are decreasing, stocks, by reason of more liberal supplies being directed to this market, are increasing. Upwards of 2,800 bales have arrived during the past four weeks, and further shipments representing about fifty per cent, of these arrivals, are known to be on passage. We observe the receipt from New York of 101 bales, and, in addition to the late arrivals named above, about 600 bales have been received per Queen Bee from Auckland, for transhipment, we understand, for that market. The stock on 30th April was 659 tons as against 320 tons at the same time in 1872.—Loan and Mercantile Company's Circular.