Commercial Intelligence.

Hawke's Bay Times, Volume 19, Issue 1461, 22 October 1872, Page 2

Commercial Intelligence.

WOOL SALES.

(From the New Zealand Loan and Mercantile Agency Company's Circular.) London, August 22. The third series of sales which were in progress at date of our last report terminated on the 30th ult. The aggregate quantities represented the following proportion?, viz.:—New South Wales and Queensland, 46,610 bales; Victoria, 56,587; South Australia, 21,030; Tasmania, 8 959 ; New Zealand, 40,646 ; "Western Australia, 2,628 ; Cape of Good Hope, 21,501; total, 197,961. Owing to the circumstance that many lots of wool which were bought in at the commencement of the sales were subsequently re-lotted, and again offered before the close of the series, accurate data as to the quantity held over for future disposal cann-.it be obtained. It can, however, be assumed that, in addition to the arrivals which may take place on or before the 12th prox., there will be available some 25,000 bales of bought in or unoffered stock. It is estimated that during the late series about 90,000 bales were taken for export to the European Continent and America.

The course of the market during the currency of the Midsummer sales has ex hibited certain striking peculiarities. As already advised, they opened at a decline of Jd to ljd per lb. on April-May values, with an absence of foreign demand, a quiet tone pervading nearly every branch of the woollen industry at home, and with considerable arrivals of the raw material. Upon these features becoming apparent, holders, who were confident that the supplies of the present would fall short of those of the past year, brought forward their stocks very sparingly. Their action in thus keeping the quantities offered at auction each e\ening within very narrow limits, coupled with the fact that for the better descriptions oi greasy combing wools a brisk competition bad sprung up between French and American buyers, tended very materially to restore confidence, and the result shewed itself in the closing prices being on an average in advance of those at the commencement by from 2d to 3d per lb. To the general enhancement of value thus recorded there were manifested during the course of the sales certain excepsions. Amongst these may be mentioned South Australian greasy kinds, if at all Jjeavy, wasty, and earthy; cross-bred wools ; the inferior descriptions of lambs' wool; and Cape wools generally. The ftrst named were neglected chiefly on account of the very high rates paid for tiitw (luring the first series of the year

not having been covered by the subsequent outrun of such parcels when scoured. Oross-breds, which duriug the sale commanded very full rates, declined somewhat in value towards the close, owing to sympathy with those of domestic growth. Similarly, lambs' wool, the prices for which after the opening week had gradually hardened, exhibited duriug the past fortnight symptoms of weakness, and for these accordingly lower prices were accepted. la continuation of the approximate average of quotations furnished in our Circular No. 59 of New Zealand growths, we subjoin the following figures, which, at a glance, will exhibit the comparative result of the three public sales held this year :—-

Feb.-Mar. April-May. Jime-July Inferior to superior washed fleece, per pound 2s ii Is 10*d 2s Inferior to superior scoured, per 1b... 2s 2d 2s Id 2a Id Greasy, per lb. ... Is 3£d Is £d Is 2£d

In anticipating the future course of this market during the remainder of the present year, while we see no cause of apprehension as to a reduction on present prices being hereafter submitted to, supported as these must be by the paucity of the raw material, the fact that manufacturers find difficulty in obtaining for their goods values commensurate with their increased cost must not be lost sight of. If, thnrefore, next year the production of wool should be so increased as favorably to alter the conditions of supplies by larger shipments being directed to this market, a maintenance of curreut rates cannot with certainty be relied upon by shippers. The arrivals to yesterday for the approaching sales on the 12th proximo include 24,882 bales New Zealand; total, 73,605 bales.