COMMERCIAL.

Marlborough Daily Times, Volume III, Issue 276, 26 August 1881, Page 2

COMMERCIAL.

[By Teleokath.] Christchurch, This Day. _ Tlie grain market is still hardening in consequence of London telegrams, and wheat is now quoted at 4/4 to 4/6, and only a few parcels have been sold. Oats, best milling, 2/1. Detail prices—Fresh butter, 1/2 per lb; cheese, Od to lOd do; beef, 2d to Od do ; mutton, 2d to 4d do; ham, !ld do ; bacon, lOd do. The New Zealand Loan and Mercantile Agency’s circular under date, London' 15th July, contains the following information:— Wool. —The second series of Colonial Wool Sales, which commenced on 10th May, was closed on Ist instant, having occupied 40 sittings, a recess at Whitsuntide. between 31st May and Bth June having been arranged for prior to its commencement. The sales opened with a good attendance on the part of Home and foreign buyers, but at an average decline on March closing rates of 5 per cent., the fall being most marked in the case of washed and scoured merino wools and coarse cross-bred descriptions, whether washed, scoured, or greasy. Medium to good greasy merino wools were slightly cheaper than at the ciosc of the first series ; lambs’ wool free from fault, on the contrary, commanded somewhat higher rates. As the sales progressed the market hardened, and those sections of the trace which at the commencement had purchased with caution, "radually extended their operations. Upon the resumption of the sales on the Sth ulto., after the holidays, there was an excellent attendance of buyers, who freely competed for the daily offerings. The German section was not perhaps so fully represented, their attention being partially diverted by the occurrence of their domestic wool fairs held between 9th and 23rd June. The greater animation, however, displayed by French buyers exerted a favorable influence on the price of greasy merino wools, which during the last fortnight of the sales commanded a distinct appreciation of Id per lb on March closing rates. Washed and scoured merino wool* likewise quite recovered the initial decline which they had suffered, and the same remark applies to fine crosi-breds. Coarse wools, however, did not towards the conclusion of the sales sell to greater advantage than on 31st May, and the demand for lambs’ was less regular than during the earlier days of the series. Superfine fleece wools, especially those in a washed state, did not elicit much competition, and throughout the sales it was apparent that the predilection of buyers was in favor of greasy rather than of washed wools. Although the lower grades of Colonial crossbred wools stand at a moderate level, they command relatively better prices than kindred domestic descriptions, with which they may now be said to compete successfully. Viewed as a whole, the fluctuations in values throughout the past sales have been comparatively slight, and it is satisfactory to find that the present level of prices has been maintained, notwithstanding the absence of any improvement of moment at the various manufacturing centre* both in this country and on the Continent of Europe. Without the aid of foreign competition this favorable result could not have been secured. Cons Market.—The crop prospects both in this country and on the Continent continue fairly good, while American advices are variable. New Zealand cargoes, for shipment, have been placed at 45s 3d and 45s Od, and on passage at 46s Od, c.i.f. terms. Parcels arrived here are fairly firm at frem 47s to 50s for ordinary sorts, and 50s to 52s for prime long berried.