ENGLISH COMMERCIAL.

Wellington Independent, Volume XXVI, Issue XXVI, 25 July 1871, Page 2

ENGLISH COMMERCIAL.

(N.Z. Loan Company's Circular, June 12.) WOOL. The second series of wool sales of the year, which were still in progress at the date of our last issue, terminated on the 17th ufc, the quantities actually catalogued falling short ot the total arrived by 4000 bales odd, which may be fully accounted for by private sales and direct consignments to the country. The advance in price which we advised by the previous mail was, with the exception of a rather important fluctuation in lambs' wool, firmly maintained to the close of the sales, and this principally owing to the continued support of the Continental and in some measure the American buyers. Of the whole quantity offered it is estimated that about one half was taken by the Continent of Europe, and from 7000 to 10.000 bales for America, leaving from 80,000 to 90,000 bales only out of a total of 192,340 for consumption by the home trade. The sudden and rapid recovery in the foreign demand has been the most surprising feature in the market, and though it is in some measure due to temporary cause*, the great and steady development since the close of the war j of the normal channels of consumption encour- ! ages the belief in continued support from that section of the trade, and taken in connection with the existence of a new element of competition from America, and the active condition of and the paucity of stocks of raw material held by the home branches of the wolleh industry promise well for the June series, which will open on the 22nd of that month. It must be a cause of congratulation with all sections of wool growers that, after events of such importance, and so disastrous to trade as have been witnessed during tho ten months following the declaration of the war, the value of the staple should again exceed by a material percentage the best quotations of 1870. Tbe arrivals for the June Beries are as follOWB1 OWB : —Sydnoy and Moreton Bay, 33,824ba1e5 ; Victoria, 43,186 ; Tasmania, 4395 ; Adelaide, 7121; New Zealand, 26,903; Swan River, 2500 ; Cape, 17,338 ; total, 135,267 bales. TALLOW. There has been more firmness in the tallow market during the last four weeks, and prices have advanced about 9d per cwt. for fine qualities. Of 10,000 casks Australian and New Zealand tallow offered at public sale, 9600 found buyers at from 42s 9d to 365, for mutton ; and 41s 3d to 36s for beef. There have been some orders here from exporters for Continental consumption, but it has been for inferior qualities at about 39s to 40a. Russian tallow is very quiet, speculation being inactive, present prices offering no inducement to operate either one way or the other. In Colonial produce there is a fair trade doing at 42s to 43s for fine mutton ; 40s 6d to 41s 6d for beef; Is per cwt less for inferior qualities. NEW ZEALAND FLAX. Since our last report there has been only a moderate business doing, the holidays to some extent interfering. The trade otherwise is healthy, and at about late rates. We fully anticipate the continuance of a good demand both for home consumption and export. There has been no auction since 10th May, when 2160 bales were offered, which met a good demand, and were almost all placed at and after the Bale at full prices, and for fine at a slight advance. Since then tbe market has been better, and as some considerable shipments have been made to Canada and the United States Btocks have been diminishing, and more money is now required by holders. We quote common, £14 10s to £16 ; good common, £18 ; medium, £20 10s to £25 ; good medium, £25 108 to £27 5s j fino to very fine, £29 5s to £33 per ton. The packing of a good portion of the late arrivals has caused serious complaints, especially whon purchases have been made for export. Shippera will do well to keep this matter well in view, and avoid Bending the flax in large unsightly bales (or we might say packages), as some parcels have come to band quite unfit for reshipment without being repacked.