COMMERCIAL.

Globe, Volume I, Issue 29, 3 July 1874, Page 2

COMMERCIAL.

ENGLISH COMMERCIAL. nWOOL',' ' Messrs Miles and Co., report on May s; The second scries of Colonial wool sales for .the yeax commenced on the 28th ult., when .the arrivals comprised : New South Wales and' Queensland 52,787 Victoria ■ .... .. ... • •• 117,446 South Australia ... . 35,91*5 Western" Australia ... 7 3,915 Tasmania 9.012 New Zealand ... ... 40,106 Cape of Gqod Hope ... 34,119 if Cv Tot ,,i ... 293,380 Colonial ’* There was a "good attendance of both ' Lome and foreign buyers on the opening 'night, but gieat caution was displayed in f the biddings; and purchases were only made at .a' '.reduction/from late races. Since the ‘' cbinmehccmenf there has been 'no alteration in prices. Washed Australian wool of all descriptions isH|d per lb lower, and faulty sorts, 2d. Greasy wool shows a decline of about Id, per lb for good quality ."and lid for inferior. J .There is very'little alteration in Cape wool compared with'last sales. With so large a quantity for offer, we do not see any prospect of immediate improvement, but. think it ‘that prices will be steady at the ne^t'series';:which will 'not open nhtil about the TBth 'AhgUst;' as there will bd no fifth sal#*MgiyeflE;i Ho in.’ !< ■’) Messrs Matron and. Qo. report on wool as. follows :—On May sth : In view of the. altogether unprecedented arrivals for the present sales, say about 279,000;ha\(?», a considerable drop ip prices was appjsehendqtU; and- the, first clay’s sale, although Vet! 'attended by home and foreign buyers. more! ojvless iii need of stocks, shovved a decline of' Ijd to 2d per lb, with a subsequent further giving way of from to Id. Even with a very brisk home and contin ntal trade,'the large quantity now on offer must have tried the market very severely ; but our English manufacturers are bv no in'eahs actively engaged, and the absorption of'lhi-s very* heavy supply must be the work of tirhe, during -which wo fearthe marketi-vyil;!;,.undergo much depression. In the meantime withdrawals on a large scale are taking place WHEAT AND FLOUR. The New, Zealand Loan .and Mercantile Agency Company report, After the Faster holidays prices of all kinds of breadstuff Si improved,, probably in consequence of,a rise in several of the Continental and prbvi'ffcial 'markets. Tlie advance was greatest on Russian and American, reaching for these descriptions 2s to 3s per quarter ; while Californian improved Is, and Australian scarce!*; SO' 'much.'- DuringHffie- past fortnight the market has been quiet, but steady. Some cargoes arrived at ports,of call, and some parcels of low quality oj; Russian, and medium qualities of New Zca land ex gtsinary, have been taken for theCoutim nt. Farmers’ deliveries have been on a somewhat larger scale than previously, although still less than an average ; while, as usual at this season of the- year, foreign arrivals have bc'eb small.* Several shipments of New Zealand 1 hnd ! Tasmanian have-lately come to hand, and ‘sales of the former have been made at 61 s to 64s for fair-qualities ; of the latter kill'd the general quality and condition have been -very good, and- some extremely fine. A - small lot of 60 quarters of very fine Tasmanian wheat ex Berean was sold at: 70s ex granary. 1,1 By matiy it is thought that present prices will be maintained until the end of May or middle of June, even with a continuance of good weather, as our markets are not likely to affected by foreign supplies, and ’ English deliveries will be considerably less than an average. By the latest information there arc on passage to the United Kingdom about 1,200,000 quarters Wheat, of which 650.000 quartets arg from California. Imports • of wheat and flour into the United Kingdom from the commencement of present cereal year—say Ist September, 1873 —to 25th r ’ April,’lß74, word 7,823,307 quarters, or at the rate'bf'll.96s,osß quarters per annum, as compared with 12,497,227 qts for the year 1872-3 9.765,290 qrs for the year 1871-2 -' ' $2(50.676 qrs for the year 1870-1 10,228,885 qrs for the year 1869-70 8,176,228 qrs for the year 1868-69 The estimated stocks in London on 30th April were 188,100 quarters wheat and 328,250 cwts Hour against 166,829 quarters.ami 299,456 cwtfl respectively at same period of 1873. We quote present prices as follow ; Australian wheat ... 66s to 67s per 496 lbs Extra line Tasmanian wheat 68s to 69s per 496 lbs New Zealand wheat 60s to 64s per 496 lbs Australian flour ... 4.5 s to 47s per 280 lbs New Zealand flour ... 43s to 45s per 280 lbs Messrs Miles Brothers and Co. report : The wheat market has not showed much animation during the last fortnight, but several white wheat cargoes have been taken • j or: continental account, both from Chile and U -'California, the latter at about 63s per 5001 bs. ISome of the parcels of Tasmanian wheat -i lately to band are, very well spoken of, the • Quality and 'condition being -excccdiugly

good, and is.worth from 68s to 695. Australian wheat is quoted at liGs to G7s per 4961 bs, and New Zealand 60s to G4s, according to quality. Australian Hour fetches 45s to 47a per 2801bs, and New Zealand 4Bs to 455. As the supplies from abroad are moderate we do not look for any. serious decline at present, but, as the weather is so favourable for the coining, crop, we do not look for any improvement. PRESERVED MEAT. The New Zealand Loan and Mercantile Agency Company report : The market for preserved meats continues in as unsatisfactory a position as at the departure of last mail. With a diminished demand, and increased supplies, prices must now be quoted at /,d to ,',d below those current on the 7th ultimo. By the last advices from Melbourne, it was stated that the rates ruling in this market were unremunerative to growers, but, notwithstanding this fact, shipments continued on a large scale. It is evident that the use of tinned meats has not extended amongst those classes of the population which chiefly it was expected.to benefit,, and the principal outlet (beyond what is consumed by the better classes) for the supplies received here is for exportation to the continent and shipping requirements. The unusual mildness of the weather, and the cessation of the demand which existed during the progress of the Ashantee war, have, no doubt, largely contributed to the present condition of the market, and we fear that yet lower rates will have to be submitted to by importers before the present heavy stocks can be reduced.

Wo quote current prices as follow • Mutton, Gib tins, 5d per lb ~ 4 „ 5d ~ „ 3 „ 5-Jd to 3.1 d „ „ 2 „ fid to GJd „ Beef 6 „ Gd to G|d „ ~ 4 „ G/|d to G,j d ~ ~ 3 ~ 6j t d to G;|d ~ ~ 2 „ G:‘d to 6Jd „ The imports for the four weeks ending 30th April reach 9734 cases, and by last advices the shipments at the various Australasian ports were 26,664 cases. NEW ZEALAND HEMP. The New Zealand Loan and Mercantile Agency Company report : The advance recorded in our last San Francisco Circular has not been maintained, buyers on speculation having been deterred from operating by a further decline in the value of Manila hemp, and the demand to supply trade requirements being languid. The large quantity of 1460 bales was brought forward at public sale on "15th - April, at which competition was somewhat inanimate and prices irregular ; about 500 bales were disposed of at a reduction of 10s to 20s per ton on' previous prices. There was a small extra sale .on 27th .April, at which 47 bales were offered and sold at £lB ids to £lB 15s. At the auctions held oh '29th idem the catalogues included 234 bales of New Zealand hemp, chiefly medium and low qualities, of which 180 bales were sold at rather easier rates.;.medium half-dressed realised £l9 to £2O, and shorts’ £ls 5s to £l6 10s. Holders are not pressing sales at these prices, in expectation of an improvement in the demand. Arrivals -for the four weeks ending 3pth April. 820’balos: By the New Zealand mails we have advices of the shipment of. 1169 bales. »-•■* /J We annex, statement of stocks, landings and deliveries to 30th April for this and last year : 1873. 1874. Stock 30th April 659 Tons. 2466 Tons Landings Jan, April ...725 ' 1'29 „ Deliveries do. ...432 530 „ Landed during April ...171 „ 219 „ Delivered do. ...120 104 ~ TALLOW AND HIDES, Messrs Miles Brothers and Co, report:— The tallow market has been rather firmer since our last, with more business doing, and prices have advanced fully Is per cwt.; the value to-day of good to fine, New Zealand mutton, bi'ing 36s 6d to 38s, and beef tallow, 35s to 365. Hides'coutinue dull of sale, without alteration in value, viz., 5;Jd per lb, for New Zealand.