COMMERCIAL.

Nelson Evening Mail, Volume V, Issue V, 5 January 1870, Page 3

COMMERCIAL.

The N.Z. Loan and Merchantile Company report as follows : — WOOL. The fourth series of Wool Sales of the year has been fixed to commence on the 11th November, the arrivals to date amounting to 83,714 bales to which may be added 28,000 bales held over from the August series, giving a total of 109,714 bales. There has been a fair consumption of Wool in the home manufacturing districts since the close of the August-September Sales, and though many staplers and manufacturers, anticipating higher quotations, supplied themselves at the late series somewhat in excess of actual requirements, stocks are not above the average for the season of the year. On the Continent, trade has been of a still more active character, and we have, therefore, every prospect of fully maintaining the quotations previously current, and possibly witnessing some advance. It has beea decided that for the year 1870 there shall be five Wool Sales in lieu of four as formerly, namely, in February, April, June, September, and November. NEW ZEALAND FLAX. We have to report a very strong market for New Zealand Flax. The prices realised for a parcel per Percy, just arrived, are very high and will no doubt stimulate production to a great extent ; it is therefore necessary that some little caution should be used to prevent disappointment in results. The prices obtained are too high to base calculations upon for future operations ; for, while the consumption will continue very large at the prices which ruled in July, August, and September, the excessive rates obtained for the Percy's shipments will have considerable effect in checking the use of it, and thus ultimately do rather harm thau good to the produce. There is room for a very large consumption — 500 to 600 tons per month we believe would be readily taken at moderate prices — but extreme rates would doubtless have a great effect in lessening the demand. Some improvement may be made in packing, by observing an uniform weight of 2241bs per bale, and by covering the sides containing flax of fine quality with gunny, leaving the ends exposed. The common qualities need no covering, as in all cases this has to be allowed for in the shape of tare. There is at present no cloth fabric made here with this flax, and we do not expect any effort will be made in this direction in the present state of the Russian Flax market, as the expenses of manipulation are too great to bring it into competition. We hear of some experiments being made with rope manufactured entirely from this flax, but these are not quite satisfactory and may have had some effect on the consumption. There is considerable animation at the public sales, and the prices realised show a large advance on previous rates.