Australian Commercial Notes.

Feilding Star, Volume XVIII, Issue 75, 25 September 1896, Page 2

Australian Commercial Notes.

.. •« [Per Press Association] Sydney, Sept. 22. The opening of the wool sales was the chief event of the week iv commercial circles. The decline of 7i per cent compared with last year came somewhat as a surprise, iind was a decided disappointment. Competition throughout was marked with a want of life. Of 9860 hales catalogued, ODly 4400 were sold. It would seem that many of the visiting buyers are awaiting advices, and that the rise in l;he bank rate and the political complications in Turkey for the time being, are rendering them cautious. The next sale has been fixed for October sth, when it is expected that the market will be more settled. The condition of the new clip on the whole is free from defect, and iv better condition than last year. The crop prospects have been further improved by good rains ov«r the greater part of the colony. Special reports obtained from the grain growing districts show that the prospects are promising aud that a much larger area will be cropped than last year, and present indications point to an increased average yield. The feed and produce markets are quite without any marked change in prices. The most important features in the import market were still the advance in dried fruits and metals. The metal stock is srns.ll, being concentrated, while the new crop of dried fruits coming forward show an increased cost equal to about Id per lb. Increased activity was displayed iv the tea sales with an improving tone. Melbouenk, Sept. 22. The gloomy forebodings in regard to the crops has been dispelled by the copious rains which according to the latest reports has visited the whole colony, even the parched Mailee and Northern wheat districts participating. The weather is still unsettled, but failing further rain the crops are now safe. The Age, reviewing the situation, estimates the visible supply of the whole colony an equal to 900,000 bags of flour or Jess than what is required for nine weeks' Victorian consumption.