Commercial.

Daily Telegraph (Napier), Issue 3081, 12 May 1881, Page 2

Commercial.

The Loan and Mercantile Agency Company's circular, dated London, March 25, says : —A general review of the catalogues gives palpable evidence that the prices obtained for those Merino wools which were purchased in the Sydney and Melbourne markets at the opening of the season last October, for shipments to this centre, must leave considerable losses to those concerned. This unfortunate position has been intensified by reason of the high steamer freights paid to insure admission to the current sales. It is questionable -whether, even viewed in the light of the data at command when those colonial markets opened, the prices then paid were prudent. The issue has inoontestably proved that tbey were by no means justified, and there is no doubt but that in many cases prices were, under the influence of local competition, obtained for wools the condition of which did not warrant such extreme rates being paid for them. This is specially true of much of the New South Wales and Riverina wools. These, when washed, have, apart from other defects, such as burr and seed, been indifferently got up, and, if in the grease, have turned out more or less burry. Victorian clips have, as a rule, been well grown, and fairly free from burrs and seeds. They are perhaps less fine in the hair than usual, but what they fall short @f in this respect they gain in strength and soundness of staple. The rendement of South Australian and kindred wools in the grease has proved to be better than their seemingly earthy state led purchasers to believe. This result has been favorably reflected in the prices obtained for them throughout the latter half of the sales now drawing to a close. The same remark applies to medium greasy New South Wales produoe. The finer grades from that colony, whether washed or greasy, have been more or less neglected, and the choice Viotorian clips have likewise fetched much lower prices on average than they did twelve months ago. New Zealand wools being in comparatively short supply, have sold relatively better than those from the Australian colonies., but when the weight of the clip of New Zealand coarse growths is put on the market during the next and succeeding series, and has to contend against domestic and other like descriptions, a more rigid test of value will then be applied to it. The Merino wools of the 1880-1881 clip, from the Canterbury province, thus far disposed of, have in comparison with Victorian and Riverina Merino wools sold well, their immunity from burrs having proved an attraction to intending purchasers.

(by cable.) London, May 10. The New Zealand five per cent 1887 loan has advanced half per cent, and is now quoted at 104, ex-dividend ; the four and a half per cent. 1879-1904 loan is quoted at 101£, an advance of half per cent, and the five per cent 10-40 loan remains at 104^-.