COMMERCIAL.

Marlborough Daily Times, Volume II, Issue 106, 26 March 1880, Page 2

COMMERCIAL.

PRODUCE MARKETS. The New Zealand Loan and Mercantile Agency Company's Circular of January 29, reports : Wool. —There is a moderate demand for Wool on the part of manufacturers, but at present holders of such portions of the new clip as have arrived, are asking prices which are generally beyond the ideas of buyers. Although there is but little immediate enquiry from the Continent, it is believed that stocks are within a small compass, and are likely to be still further reduced as the improvement in trade developes. The recent accounts from France are somewhat more favorable than the date of our last advices ; while at Antwerp, where the first aeries of sales has been in progress since the 20th instant, the market is reported very firm for clothing descriptions, and at a fractional advance in the case of combing wools. At an auction held.in Berlin on the 13th inst., 1,963 bales of Cape Wool.were offered, and allsoldat prices ruling up to Id per lb above the closing rates of the last London sales. At the Havre River Plate Wool Sales on the 14th instant, 1840 bales were offered, and 1060 bales sold at £d to £d per lb advance on November rates. The arrivals for the first series are 75,685 bales. Referring to these figures we may remark that the total quantity of wool to be comprised in the series will be sensibly affected by the purchases made in the Australasian and Cape Colonies for American account, which, instead of coming to this market as usual, will now be directed to the United States. The commencement of this year’s first series of London sales has been been fixed for Tuesday, 17th February. All wools arriving up to 4 o’oclock p.m. of that day will be admitted, but should the total not then amount to 250,000 bales, the lists will be open until kept open until 4 p.m. on the day on which that quantity is reached. Tallow.— This market, opening in January, 1879, with P.Y.C. at 36/ and Australian at 38/3, gradually declined, until in July the lowest level of the year was touched. On the 17th of that month stocks were 14,000 casks, 3SOO Russian and the remainder Australian, and on that day the quotations were respectively 55/3 and 33/6. English Tallow being then plentiful, and comp. vatively cheap, consumers could in a measr e afford to do without Foreign supplies unless purchases could be made on exceptionally favorable terms. During the ensuing three months, however, a better feeling prevailed, stimulated principally by a spirited demand for export to the Continent, and prices advanced, by slow degrees, some 3/ to 3/6. At the last sales held in October a strong speculative competition was manifested, and the whole quantity catalogued was eagerly taken at a further average rise of fully 5/ per cwt. This brought Australian “ sorts ” to 41/6. The first sale in November carried it on to 43/6, and the second kept it there ; but at the third the market suddenly collapoed, almost everything offered being bought in at rates showing a nominal decline of 3/ to 4/. Since that date sales have been light, importers generally abstaining from forcing off their stocks, though a few shipments, which had been laid down here at a low rate, were sold to realise the profits, which even in the altered condition of the market, were obtainable. The opening of the new year finds us in a slightly better position, with a fair, though not extensive, demand, stocks not exceeding 20,000 casks, includ--3000 not landed, and a disposition od the part of buyers to pay something beyond the scale of prices to which the late reduction had brought thorn.