COMMERCIAL.

Globe, Volume III, Issue 206, 5 February 1875, Page 2

COMMERCIAL.

s" * ♦ ENGLISH COMMERCIAL. Messrs Miles Bros and Co report ou December 16th f—- . v *U wool. 1 - - The fourth series of sales of the year commenced on the 17th nit, and terminated on the 7th inst. The arrivals were as follows: Sydney and Queensland 19,864 Tort Phillip 14,948 Adelaide 3931 Van Diemen’s Land 187 New Zealand 13,291 Swan River,. .. 440 Cape of Good Hope 38,778 Totf}l colonial bales ... 89,437 Of which about 7500 bales, mostly Capes, were forwarded direct to the manufacturing districts. There was a good attendance of buyers at th» opening, although foreigners were scarcely as numerous as usual, and prices were quite equal to September rates, but after the first fortnight, when the immediate wants had been satisfied, competition became languid, and prices fell about $d to id per f. for good Australian combing, scoured, and washed fleece wool, and Id to lsd per lb on lower qualities, while heavy inferior aud faulty lots suffered to a still greater extent. New Zealands have sold well throughout, and although a slight decline was perceptible towards the close on washed parcels, good greasy wools fully maintained their value. Capes are about Id and in some ca-es 2d lower than in September. The greater portion of the wools offered at tills series was of a poor and miscellaneous description, and a large quantity of second-hand wool was also brought forward, which, combined with the rise in the Bank rate, all tended to depress the market, so that we have better hopes for February, when the new clip will he on sale, and the quantity probably not excessive; hut how prices wi l rule at the later sales, when tlie arrivals are expected to be larger, it is at present impossible to say. .. About 17,506 bales have arrived for the next sales, which have not yet been fixed, but they will probably commence on the I6th February. The trade Is in a very healthy state at present. WHHAT AND FLOUR. The wheat market has been linn since our last in consequence probably of the limited arrivals, but business has been quiet. The quantity ou passage has increased to 1,381,000 quarters, but only a small portion is at hand, so prices are likely to be maintained for a few weeks. Australian and New Zealand wheat, being iu limited supply, command full prices, and may he quoted; —Australian, at sls to 635; New Zealand, 47s to to 51s per 490 lbs; Australian flour, 33s to 375; aud New Zealand, 31s to 34s per 2801bs. < TALLOW AND lIIDFB. The -tallow market has been steady, and prices have advanced fid to 9d per cwt, flic present value of good to line New Zealand muttou being 43s to 445, and beef tallow, 42s to 435. Hides are now in moderate demand, and prices are unaltered—viz, 6|d to 7d per lb for New Zealand heavy and light weight? of fair quality. NEW ZEALAND HEMP. There is nothing fresh to report upon this fibre, the demand remains very quiet, and prices are not likely to improve unless Manilla hardens considerably. PRESERVED TINNED MEAT. The demand has not been quite so active lately, but we look for a revival after Christmas, i’rices remain unaltered. The New Zealand Loan and Mercantile Agency Company reports PRESERVED MEATS. The enquiry for ihese provisions is not so active as It was a month ago, and with the near approach ot the end of the year dealers seem disinclined to Increase their stocks. For approved brands of boiled beef and mutton sales can be effected at our quotations, which remain unaltered, and are as follow, viz:— Boiled mutton, 6lb tins ... 6dto sjd per lb. 4lb tins .. 5d to sid per lb. • 21b tins ...s|d to o|d per lb. Boiled beef, 61b tins 6Jd to 6sd per lb. • * r ‘ 4lb tins ... 7d to 7|d per lb. Arrivals for the four weeks ending the 10th inst are 16,843 cases from the Australasian colonies, while the shipments announced by the Brindisi mails delivered on 34th ultimo comprise 10,446 cases. f(j • CORN MARKET. During the past month the wheat markets of the United Kingdom have been generally steady, and the same remark applies to those on the Continent. As foreign arrivals have been within very moderate compass, our local stock of wheat on 80th ultimo was reduced to 151,583 quarters against 298,826 quarters,, and 308,713 quarters at corresponding dates respectively in tin-years 1373 and 1872. According to returns prepared for the first quarter of the present cereal year. It appears that the total supplies in the United Kingdom of foreign wheat and flour and of domestic wheat are computed to he 6,390.616 quarters against 6.079,529 quarters during a like period in 1873. Of our total foreign supply nearly two-thirds was received from the United States of America, Canada, and Chili, which is the more significant as Californian imports during the period under review have been insignificant. In proof of the gradual decrease in demand for export caused by the favorable harvests on the Continent, we call attention to the fact that whereas during the three months ending 30th November,,, 1873, 296,123 quarters were passed for shipment, only 31,394 quarters were exported throughout ttie corresponding months ol this year. In Adelaide wheat we do not hear of any transactions, the small quantity instock being firmly held at prices beyond the ideas of intending purchasers. The Atrato (s.s.) was reported from Lyttelton, N.Z., via Cape of Good Hope, three weeks ago. with about 6900 quarters of wheat. Present quotations for New Zealand are as follow, viz.:— Extra sorts 51s to 52s per 496 lbs. Good 49s to 50s „ Ordinary 4fis to 47s „ Out of condition ... 43s to 45s „ Australian flour of fine quality Is worth 35s to 36s per 280 lbs Ditto, ordinary 31s to 33s „ New Zealand flour is worth 30s to 32s „ NEW ZEALAND HEMP. During the past four weeks very little business has transpired in tills fibre, transactions by public auctions held on the 18th nit and 2nd Instant hav< been chiefly confined to the disposal of a for damaged lots. Ou the latter date 287 bales wen offered, but all with the exception of 30 bales won withdrawn. A small sale by private treaty of fair clmq bright h*s been reported at £2O per ton. Au ' | i

addition to our previous heavy supplies was made on the 24th ultimo by the arrival of the Atrato, s.s., with 346 ball’s. The prospects of improvement In this article continue to be as remote as they were on the publication of our last issue, low prices failing to beget any speculative feeling on the part of dealers, while the trade decline to operate except in retail quantities so long- as the present level of ■Manilla hemp is maintained. The following figures show the position of stocks, landings, and deliveries on 30th .November in the past and present year:— 1873. 1*74. Stock on 30th November ... 1871 tons 1072 tons Landings, January November 3174 „ 1766 „ Deliveries „ 1663 ~ 166 a ~ Landed during November ... Delivered „ ISy the mails delivered on 24th ultimo via Suez, no further shipments were advised. For sale by auction to-morrow 250 bales are advertised. With reference to the money market, W. Westgarth reports:—Since tire 30th ultimo there lias been an average advance in price in Government Debentures of fully 1 per cent. It is most conspicuous in some of the New South Wales, Victorian, Queensland, and South Australian, which are to 2J per cent better. Tire new Victoria 4 per cents at 93 are l!f per cent higher. South Australian Fours, in absence of stock, are at the same high price, an advance of 1J P er cent. The Victoria 6 per cents, due 1891, have reached the high price of 119, and tile New South Wales Fives, due 1888-1902, that of 103, while the longest term South Australian Sixes, dne 1901-1918, are as high as 120 and upwards, very few of them now coming to market. The New Zealand 4i per cents, issued in May and June last, are only at about 97, the market being still overloaded with large unabsorbed amounts of the heavy loan of £1,500,000.