COMMERCIAL.

Gisborne Times, Volume XXVI, Issue 2098, 27 January 1908, Page 4

COMMERCIAL.

I’OULT.ItV AND PRODUCE

Tim following prices were realised at Messrs Miller and Craig's produce sale on Saturday:—Chickens Gd to lOd, roosters Is 5d to 2s Id, liens Is 3d to 3s Id, egos Is Gd doss, potatoes IJd and 2d, tomatoes 3sd and -lid, plums Id and ljd, pears 1 ill, marrows 4s 3d doz, cucumbers ts 3d doz, beetroot 2d bundle, bananas 7s 3d ease, rhubarb Gd bundle, onions lsd and 2d, apples TJd lb, greengages 2s box, apricots ljd lb, pumkins Gd to Is 3d each. l'\ S. Malcolm and Co report very large entries and good suites in their produce department on Saturday last. Potatoes are turning out hotter than was anticipated; some splendid samples found buyers at IGs Gd per cwt, ordinary samples lid and lj per lb, tomatoes 3j lb, plums li to 2d, nectarines 4s 3d per half ease, poaches •Is 3d to 4s 9d, apples 2s Gd to Gs Gd, pears 3s to 3s 9d, but tor 9d to lid, hens Is Gd to Is lid, roosters Is to 2s Gd, hen and chickens 7s, bantams 2s Gd per pair, pullets lid, eggs Is 5d to Is Gd, onions ljd pickling onions 21<1 marrows 2s 6d to 3s 6 doz, beans 9d peck, small encumbers Is Gd dozen.

Messrs Malcolm and Co if inducement offers will hold a fruit and produce salo every Wednesday as per advertisement in this paper. This mid-weekly .sale ol farmers’ produce should supply a long felt want in Gisborne—that of bringing producer and purchaser into closer touch. Messrs Malcolm and Co invito ontries for Wednesday next.

HORSE SALE,

At the Lowe-street Horse Bazaar on Saturday about 35 hacks were entered and the majority sold at prices ranging from £5 to £lB tor a number of better class animals.

THE CUSTOMS.

The revenue collected at the Cus-tom-houso last week was as follows: Customs duties £9SS 12s 2d, beer duty £2O 18s, light dues £l3 17s Od, shipping ices £1 12s 6d, other receipts 6s 6d ; total £1075 19s sd.

LONDON WOOL SALES

A POOR FINISH

(from our correspondent.) LONDON, Dec. 13, 1907. Sinco writing last the sixth series of wool sales are over, and buyers havo returned home. There is no aspect which can bo called satisfactory, and the sharp declino which has taken placo must fill the minds of many Colonial, Capo and Punta Arena growers with considerable dismay. It is indeed a pity that such a deadly stroke should have been struck at values, and a drop of 2d to 3d per lb is a very serious matter. There has been throughout the series an entire lack of confidence, and it will bo well if things get no worse. The situation continues to be entirely dominated by finance, and dear money throughout the woild is having a serious check upon trade. Once a"a in it is the totally unlocked for which lias happened, and with such bright prospects up to the end of October, the programme of importers and buyers generally has been completely upset. I hardly think that the trade is anything like out of the wood, and while it is only natural to liopo that the worst is passed, yet I cannot silence my own convictions that wool will be cheaper. However, I will bring this series to a close bv quoting the expert opinion of a leading firm of selling brokers, and then readers can put their own construction on the situation. Messrs. Charles Balme and Co, in their circular state that “the dcarnes and scarcity of money all over Europe, the result of heavy export of gold to America during the past six weeks, have completly altered the aspect of the market. In September, values of merino wool were forced up to an abnormally high level in consequence of the trade being obliged to purchase, practically regardless of price, sufficient raw material to enable them to fulfil existing contracts, at a time when supplies were just at their lowest ebb; whereas, during the sales which have just come to a close, the available quantities were much larger, and manufacturers and spinners, who continue well employed, have been able to exercise much more discrimination in their purchases, while the contraction of credit, resulting from tho American crisis, has eliminated, speculation and caused top-makers and dealers to curtail their operations as much as possible. In this state of affairs, competition has been of an unsatisfactory character throughout the series, and prices of all grades have lallen sharply.” At the outset, tho decline of merinos averaged 10 per cent., the depreciation being particularly noticeable on wasting and faulty descriptions. With tho progress of the auctions, quotations further weakened, final rates being 7-J per cent for superior greasies, and an average of 15 per cent for all other classes, lower than at the end of the September sales. The demand for greasy crossbreds has also been restricted, the fall of fino sorts amounting to 10 per cent., and on medium and coarse 12-J to 15 per cent. Scoureds and slipes have met with a somewhat better reception, at prices in average 10 per cent, below previous values, a feature of tho market being the relatively satisfactory results obtained for short limey parcels. The small quantity of South African wool available has sold at a decline of 10 per cent in- the case of the better greasies and 15 per cent on poor conditioned shipments, while snow whites havo suffered to the extent of 1\ per cent. Western fleeces, washed, have proved difficult of sale at quite 15 per cent below September rates. The new season’s wools from Queensland and the western districts of Victoria, as well at Southern and Western Australia, are well grown, sound, and in good order, although clips from tho two latter States appear rather heavier in condition than last year. On tho other hand, shipments from Now South Wales as a rulo Heave much to be desired, the staple, although finehaired, boing shorter than usual, and in many Cases somewhat tender, while Imrr and seed are more prevalent than last season, particularly among the Itivorina growths. The outlook for tho New Year is dominated by tho monetary situation in America and Europe. . Should the present tension he relaxed, it seems probable that tho trade, which is in a sound condition, would respond to the altered circumstances, but so long as there is any necessity for tho maintenance of the present high rates of interest, an improvement in wool values can hardly be expected. The first series during 1908 will tako placo on January 21, and tho second series on March 17tli, there being no limts. During the year the home trade lias absorbed 857,000 bales, the Continent 1,372,000 bales, and America 149,000 bales. This is the largest quantity ever taken by the United States, and the increase in the total deliveries to the three countries is no les than 307,000 bales.