ENGLISH COMMERCIAL.

Hawke's Bay Times, Volume 15, Issue 783, 2 May 1870, Page 2

ENGLISH COMMERCIAL.

NEW ZEALAND FLAX. On the demand for flax, and the prices at which it ranges, the writer of the Anglo-Australian notes in the European Mail has the following:— Since the last mail the position of New Zealand fiax in the market here has been all in favor of buyers, and they, as well as sellers, are now fully assured that no more high prices will be seen, at any rate for some time to come. Present quotations are as follows:—Part dressed, 19s; fair, 255; fine, 31s. I may mention that there are to be found a few large importers who, ever sanguine as it seems to me, hold out for former high figures, or nearly so. There, is before me the report of one of the largest firms' of ropemakors in the north, and they consider the article a failure as untarred rope, but when tarred think it will command a limited market at a low price. This verdict must be taken for what it is worth, since they are large buyers, and have consumed to my certain knowledge over 100 tons. The best thing that can be hoped for the article is a temporary cessation of shipment; for the market is now flooded with the flax, and time is wanted to look round, and to sell the manufactured article. We extract the following from the circular issued on the 25th February by the New Zealand Loan and Mercantile Agency Company : We are unable to report much business in New Zealand flax since our January issue, but we see evidence of a better opinion regarding its usefulness, several experiments having been tried with it, with, on the whole, satisfactory results. Some persons have been taking great trouble to create a prejudice against the use of this fibre, but if prices are kept at a moderate rate we have no dbubt there will presently be a large consumption of the better sorts. The European Mail, 25th February, contains the following quotations:— A very limited business in New Zealand flax. Out of 1,027 bales offered early in February, only 300 bales sold; common and half-dressed, £lB 10/ to £24; fair clean, £2910/ to £3O per ton; tow, £lO to £l2. Since then, of 140 bales at public sales, only a part found buyers at £205/ for half-dressed; and £3O to £3llO/ for good cleaned; tow, £ll 5/. We extract the following from Messrs. Devitt and Hett's monthly report:— , I About 1,300 bales have been offered at auction; most importers have been anxious to realise even at reduced rates, but only a trifling quantity has found buyers. Prices must again be quoted £5 to £lO lower, or about £ls per ton down from late highest point. It is with very great reluctance that we are compelled to state as our candid opinion that the sanguine hopes which were entertained of the successful competition of this article

with Manilla hemp will be disappointed. Our ropeI makers have given it a fair trial and state most positively that the rope produced is utterly useless for sea purposes, as it will not stand the action of water. In the manufacture of rope for inland purposes, jute, Bombay hemp, and other lowpriced fibres are used, so that if a New Zealand rope is to come into competition a proportionate price will have to be accepted. In the absence of any other use than rope-making, shippers must not reckon on obtaining beyond our present quotations. It is only from a sense of duty that we give publicity to these remarks, which we are sure cannot fail to cause great disappointment and annoyance to all concerned. Of course we shall be delighted to have to acknowledge ourselves wrong in this matter, but cannot allow our friends to go on importing without stating our convictions. The buyers who ran up prices £lO per ton in one day now acknowledge that they did so in the hope of being able to bring down the price of Manilla hemp, but they acknowledge their mistake, and have offered their purchases for re-sale at a considerable discount.

wool. The European Mail, 25th February, contains the following:— The arrivals for the first series of London public sales of colonial wool, which commenced on Feb. 17, and are to last till March 8. comprise:—Sydney, 9,553 bales; Port Phillip, 29,709; Van Diemen's Land, 356; Adelaide, 8,832; New Zealand, 1,553; and Cape, 22,135—t0ta1, 72,138 bales. Some wool has been held over from last year, but it is not much, and putting new arrivals, old stock and second hand wool together, the total quantity will probably not exceed 80,000 bales. Owing partly to the new sale arrangements, and still more to the exceptionably unfavorable weather, the bulk of Adelaide wools, which generally forms a prominent feature in this series, has been shut out. Nor is there anything like the usual supply of superfine Port Phillip wool. Mr Helmuth Schwartz observes that a very large number of both home and foreign buyers attend. The tone is firm, and the competition animated, and though no actual rise in prices can perhaps as yet be recorded, any difference, where such exists, is manifestly in favor of the sellers. This is particularly the case with Cape wools, which, on the average, sell H above the closing rates of last series; and occasionally with good Port Phillip parcels, of which, however, too little has as yet been offered to allow of a correct judgment being formed. Business in the manufacturing districts is fairly active, but seems to show no appreciable improvement upon the condition of the last three or four months. The stocks of the raw material, however, are on all hands admitted to be moderate, and as the supply for the time is unusually small, the present firmness of the market will, in all probability, be fully maintained, if not increased, during the short conrse of this series. A London telegram, of date March 15, says : The wool sales closed firm, establishing an advance from Hto /l per lb. The probable stock for the April sales will be 170,000 bales. PRESERVED MEAT. The following are from telegrams dated London, March 15:— Tallerman's first public sale of 100 tons of Australian meats heas ben held. All was sold at satisfactory prices. The Central Queensland Meat-Preserving Company has been projected, with a capital of £i5,000. AUCKLAND LIVE STOCK MARKET. [MR ALFRED BUCKLAND.] 23rd April, 1870, At the Haymarket on Saturday last fodder was short of requirement, and for small loads an advance on previous prices was obtained. Oats brought from 3/ to per bushel. Horse stock offered in less numbers than usual. For those penned there was a steady enquiry at late rates, and the greater number were sold. At Eeinuera, on Thursday, dairy stock were in larger than usual supply, and prices ruled high. Medium animals near calving brought from £l3 to £l7 each. Quiet cows in calf shared in the advance, and were from 10/ to 30/ higher than usual. Very few store cattle offered. Fat cattle were in usual [numbers—9B head penned. Prices were fully equal to close of last week's saie. A few very choice animals brought 32/, but the average of the market was not more than 30/ the 100 lbs. Fat sheep were in moderate supply, but of middling quality only, and dull of sale; several pens were withdrawn. Store sheep were at nominal prices. Full mouthed half bred ewes from 3/ to 5/3 each. Fat pigs were in full supply aud of good quality. Prices were about /£ the lb. lower than at previous markets.