Commercial Intelligence.

Hawke's Bay Times, Volume 16, Issue 822, 15 September 1870, Page 2

Commercial Intelligence.

ENGLISH COMMERCIAL. London, July 15. The exports show little variation on last return. There is a full average Cor the current month. , Aggregate value, £831,529, heing a decline of only £2,871. To New Zealand, there lias been an increase of £6,512. A terrible panic occurred on the Stock Exchange, and occasioned enormous losses. Australian, securities escaped depreciation. The termination of the drought lowered the wheat market, and harvest prospects are excellent. Under the head " Colonial Securities," we note —New Zealand fives, 1891,100; ditto sixes, }B9l, March-September, 112. Wool.-r-The sales are progressing satisfactorily, and will probably close o\\ the 3rd August, as there is a full attcudance of buyers, the foreign takjng fully one half of the quantity sold. Prices opened equal to the average of last sales, but dropped in the first fortnight to May rates, revived again after one third of the quantity had been placed, and prices slightly over the opening were maintained to date. Prime Sydney flocks realised long prices; scoured wools went comparatively cheap; good washed New Zealand and the better Port Phillips give much less satisfactory results than medium ar\d lower qualities. Notwithstanding the withdrawal of the Continental buyers, prices were maintained.

Tallow is. dearer. Large sales of Australian were effected a,t Gd higher tpr muttpn, and 3d. for !}cef,

New Zealand Flax.—3,3*3 bales offered, bu* only 550 sold, at lower prices for common, and dearer for good qualities. July 23. Commercial affairs are disorganised; eorn and tallow have advanced; cotton is depressed. Wool fell 2d per lb., but recovered partially upon the decision being made to close the sales on the 27th July. 50,000 bales will be carried forward to nest series. There is a panic on the Stock Exchange, and several failures have occurred. Consols, 90. Australian stocks are only slightly affected. August 6, The wool sales closed heavy at 2d lower; 50,000 bales were withdrawn, the Continental buyers having left. There is an increased demand for Australian meat; the Admiralty takes 170,000 lbs. of beef, and 420,000 lbs. of mutton. France also takes 400,000 lbs. There have been forty failures on the Stock Exchange. The produce markets are disorganised. A severe panic has occurred at Liverpool, and several cotton houses have failed. New South Wales debentures, 97; Victorian sixes, 107, Consols, .88$.