COMMERCIAL.

Manawatu Herald, Volume II, Issue 89, 2 July 1880, Page 2

COMMERCIAL.

The New Zealand Loan and Mercantile Agenoy Company's Ciroular, per Brindisi mail, .of May 7th, Bays in reference to the wool. Bales of the previous month that, com pared with the final rates of the FebruaryMarch aeries, a general advance had been established on all descriptions, except lambs, estimated as ranging from 5 to 10 per cent, all round, and in extreme oases even in<jre. Quoting specifically on Australasian produce the figures are as follow : — Wa-hed and scoured merino about l£d to 2d per lb ; greasy merino, about Id per lb ; washed and scoured, crossbred, greasy crossbred, about \i\ to Id per lb. The most animated competition came from foreign buyers, wbije English buyers bought spaaingly, a MmP proportion of the trade holding euWUy aloof in the hope that after the first demand had somewhat abated a tendency to lower races would assert itself. In this view they were supported by some branohes of the foreign trade — the result being that their combined abstention from the market at length brought about a realisation of their wishes. Briefly stated the advance above quoted has been practically lost on merino wools ; and crossbreds which had not by any means fully participated in it, have, suffered a mean depreciation of quite 2d per lb. Apart from a certain restriction in demand the circumstances of the market do not appear to warrant an opinion that the present phase of depression will prove lasting. In the four public sales held sioco the departure of tho mail via Brindisi of 9th April, 5004 packages of Australian and New Zealand tallow were catalogued and 3815 sold under the hammer. The market had remained in the dull position it occupied a month previously, and only a moderate business was transacted at the first three sales under a decline of values equal t« It to Is 6d per cwt. Subsequently, however, there was more disposition to purchase, and at the last auctions the demand was stronger, and nearly all the tallow brought forward was sold There was no improvement in price for the finer qualities, but in a few instances a trifling advance was noticeable upon inferior sorts. Quotations at the de parturoof the mail were :— P.Y.C. new, 42a 6d per cwt : Australian mutton, fine, 34s per cwt ; do do, medium, 33s to 33s 6d per cwt ; do beef, fine, 32s to 32s 6d per cwt ; do do, medium, 81s to 31s 6d per cwt. Nothing has been done in New Zealand wheats until sth instant, when the sale of a cargo for UK. orders was effected by •sable at 42s 0.i.f., wooden vessel. In ar- ■ ived parcels of Australian wheat there is a iir bnsiness at the prices undernoted. 1 lour has declined about 2§ per 280lbs on one month, and the sale is dull and dragging. Quotations:— Australian wheat, old, 51s 6d to 62§ 6d per 4961 b »; do, new, 52s to 53a per 4961bs '; New Zealand do, 50a to 52s per 4961b5 ; Australian flour, 36s to 38s per 2801bs ; New Zealand do nominally, 35s to 37s per 2801bs. Goldsborough's Monthly Circular for May speaks in generally hopeful terms of the prospects of the wool market, and particularly of the effort! made on .the part of the woollen manufacturers, of the United States of America to have the present heavy duties on wool* reduced, and which are likely tobe attended with success. This will have a most tjenefioiU effect on local, market, as the competition on account of American consumption, hitherto . confined principally to light-conditioned greasy, will now be extended to other descriptions. There is also cause for congratulating the pastoral interest on the continued excellent prospects of the coming ' season. The weather ha^been^ most 'propitious, seasonable rains having fallen throughout most ..of the dis» triots, and the rapid and luxuriant growth of grass and herb, ge of all descriptions gives assurance of abundance of feed for the winten * The ojip, will, consequently, be sound and well grown. The stock are. reported to be generally healthy and in good condition, and the lambing, which has already commenced in the earlier districts,, will,, it is expected, be .moat satisfactory.