COMMERCIAL.

Daily Telegraph (Napier), Issue 3218, 22 October 1881, Page 2

COMMERCIAL.

In reFerence to the third series of colonial wool sales the September circular of tho !N"ew Zealand Loan and Mercantile Aaenev Company says :—The market waa well attended, and for the bull? of the purchases pood competition was evinced. Orors-bred descriptions, of medium to inferior quality. Were aprtnrpnflv sliarbtly below the elosine ratps of last, series, but the quantity submit! Ed to auction was not sufficiently larsr" or dirpr"=ifi"d in character to admit of the market hpin_ thoroughly tested Merino wool. scoured, washed, and in srrease, exhibited but little variation, save in the case of faulty lots, which, if indifferently scoured, were less readily taken than the better parcpls. Tape wools were sold at price 3 slightly in favour of buyers. p ince the openine day the nrosress of competition has developed some further features of interest, and although irregularities of bidding have been frequently apparent, the market has on the whole assumed a definite tone. The better grades of merino growth have shown some increase of strength, while first-class fleece washed wools, of which several parcels have been offered, mart a quotable advance. It must, however, be borne in mind that fine and superfine wools did not in the earlier sales of the year command relattvlv such high pr-ices ns other descriptions. Shortstinr/lpfl —lidrllp-olasJs merino shows no tendency in nn upward direction, and when fnnltv and offerpd in quantity is difficult of sale even at sensibly lower rates, the decline raneinjr from id to per lb. according to condition. Lambs' wool, scoured, unless quite free from fault is neglected. The finer grades of cross-bred wool are in strong demand at full prices, while the coarser and lower tynes are without chan_e. The conditions of manufacture continue difficult, and the more hopeful feeling as to the future of ■ the trade whifh prevailed during tbe early summer has of late been somewhat disturbed by unfavourable harvest weather, and the apparent failure of negotiations in reference to the French treaty. It is yet too early to form a definite opinion as "to the ultimate course of the sales now in progress, but it may reasonably be assumed tbat under the less cheerful prospects of trade generally the abnormally large supply of wool now here will be found to press heavily upon the market before the series is brought to an end. If, as is not improbable, some portion of the wool forwarded direct to buyers from ship should be catalogued for sale instead of going into immediate consumption the pressure will be intensified. On the other hand, with a return of steady and seasonable weather, and having regard to the existing level of prices, there seems to be nothing in the present condition of the woollen trade to prevent an upward tendency in the value of the raw material ensuing at an early date. (by gable.) Abplaipt!, October 21. Whpat, per bushel, 5s sd, for which a better demand is being experienced ; town flour p°v ton £12 5s to £12 10s, country brands £1.1 10s. Ereiehts to the United Kingdom, from A rMaide 47s 6d, ditto from the outports 50s.