COMMERCIAL.

New Zealand Mail, Issue 31, 26 August 1871, Page 10

COMMERCIAL.

New Zealand Mail Office, Friday evening.

There has been little business doing during che past week. Stocks continue low, and values in most descriptions of goods, in spite of small supply, continue unaltered. . The arrival of the Halcione, from London, with a full cargo of seasonable spring goods will prove very opportune, and we may reasonably hope that, in spite of present dull times, importers will find no difficulty in quitting their invoices at fair values. The improved price that last season’s wool realised must lighten the struggles and difficulties of our sheep farmers to a considerable extent, and by throwing a large amount of ready money into direct circulation, give fresh impetus to trade of every description. . There is little or no alteration to report in prices. Liquors eontinue dull $ Martell s and

Hennessy’s brandies in bulk are worth 7s 9d per gallon, with moderate enquiry. Supplies of kerosene have come in freely, and prices are far from being firm. Elour and grain remain stationary, although oats have rather hardened in value, owing to non-arrivals during the weeks and stocks being mostly in retailers’ hands. . Butter, which showed sympnoms ot improvement some days back, has again relapsed, and we hear of a sale of good keg butter at 3£d per lb. There is but a limited demand, and holders obtain 6d for small lots of prime cure. There is a large stock on hand, which must be cleared before warm weather sets in, or the loss will be greater than holders calculated on. Bacon dull, and difficult of sale at Gd per pound. THE WOOL SALES. The third series of the colonial wool sales commenced in London on the 22nd of June, and have continued from day to day until now. At the opening of the sales Messrs Schwartze reported 1085 bales, Port Phillip ; 562 bales, New Zealand ; 553 bales, Adelaide; 291 bales, Yan Dieman’s Land; 23 bales, Swan River; 1458 bales, Cape ; total, 7454 bales. There was a large attendance of both home and foreign buyers, and very much animation. The result was an advance in prices, extending to all descriptions. Sydney fleece wools of the medium class—and the catalogue contained a large assortment of these —show the rise most conspicuously, and may be quoted l|d, and occasionally even 2d, dearer than at the close of the preceding series. On the better qualities there is only about Id advance, and scoured kinds appear to be scarcely affected by the rise. The rather indifferent show of Port Phillip sold about six to eight per cent higher than in May, and the same may in a general way be said with regard to the Adelaide and New Zealand wools, of which, however, too little was offered to afford an accurate test of the relative position of the various qualities. Capes may, in the average, be quoted a penny higher, though in the case of the best snow whites (which were exceptionally dear already in the April-May series) the advance is occasionally less marked. Altogether the attendance, tone, and general result fully bear out the expectations that had been formed on the strength of the brisk private business transacted since the last sales ; and, as the position of the woollen industry is favorable, and the demand apparently quite equal to the supply, there seems fair probability of the present rates being maintained. The arrivals in time comprise—sß,o24 bales, Sydney ; 67,942 bales, Port Philip; 9,053 bales, Adelaide ; 45,805 bales, New Zealand ; 11,772 bales, Yan Diemen’s Land ; 2,632 bales, Swan River ; 26,407 bales, Cape ; total, 221,635 bales. The following are quoted as average prices: —Good to superior scoured snow white, Is 8d to Is lOd per lb ; middling to good, Is 6d to Is 7id ; short and discolored, Is 3|d to Is 54d ; middling to good Western fleece, Is Id to Is 3d ; good to superior Eastern fleece, Is 2d to Is 3|d ; good average Eastern fleece, Is OJd to Is lid to Is; short, heavy, and faulty Eastern fleece, lOd to lid ; good to superior Eastern grease, 7RI to Bid ; middling to good Eastern grease, 6id to 7d. , At the sale on the 27th there was offered only a small quantity of New Zealand, ex Estrella, from Wellington ; the following prices were realised : —l2 bales, WE, Is 6£d ; 8 bales, WS, Is Gd. The other prices ranged from Is 2id to Is 7id. NEW ZEALAND FLAX. Messrs Devitt and Hett report a,s under: “ ffhere has been little animation in the market since our last report. Stocks in first hands being small, importers have been firm, but as dealers hold a considerable quantity, (particularly of the medium and common qualities) they have operated cautiously, being anxious to supply orders out of their own stocks. About 1,500 bales have been sold m the market at steady prices. The following list comprises the principal marks sold: Per Estrella, from Wellington, CHB diamond, £24* M, £26 10s. Per Lord Warden, from Sydney, JSM, £2l 10s to £23 10s. Per Firth of Clyde, from Port Underwood, HFM, £2B to £2B 10a; R, £26; 83, £2B 110 s. Per Electro, from Wellington, FHL, £l6 and £2O. Per Countess of Kintore, Hokianga, £33. Per William Davie and Ramsay, from Lyttelton, Burnham Mills and Flaxbourne Mills, £lB. Arrivals Peter Denny, from Lyttelton ; Melita, from Wellington ; and Carlisle Castle, from Sydney, with 772 bales flax and 167 bales tow in all. Stocks on June 2, 1,257 tons; imports since January 1, 1,404 tons; delivered, 1,324 tons ; but from what we can learn privately the deliveries have been laigoi than Btated in the returns, and we quite hope to be able to report a smaller stock than is recorded. Manilla hemp continues very dull of sale, and except for fine finds no inquiry prevails.”

The following late telegram from New York was published as a special commercial supplement to the California lC News of the World on July 19th „ New York, July 19th.—The only item of interest connected with the Australian trade is the charter of the ship Jason, 878 tons, of Cameron’s line, for Melbourne and Sydney, and the barque Chattanooga, 526 tons, Mailler’s line, for Melbourne direct. Otherwise the market is very quiet. The barque James S. Stone sailed July 12th for Melbourne. In addition to cargo before noticed, she has 220 cases oysters, 100 barrels plaster, 500 boxes clothes pins. Our market and trade materially very quiet, the heat being oppressive, and a large number of business men being out of the city.

i Kerosene, dull at 32c; sales Devoe’s, for Melbourne, via Boston. Activity in wool continues at full rates. Demand for foreign wool good, and prices inclined to harden. Sales this market, 25,0001bs Australian, 50c to 55c. At Boston, 2,451,000 Australian and New Zealand, 48|c to 58c. Flax dull. The reliable announcement of the reduction of discount of the Bank of England to two per cent, with the further increase of bullion in its vaults, has contributed to weakness of ex* change and gold market, and rates have ruled lower. The great success of the French loan has assured capitalists that no disturbance of the European money market will be caused by the payment of the indemnity to Germany, and there is a degree of confidence in trans-Atlantic monetary circles which has not been witnessed for a long time. Wool—Advance established on opening night has assumed increased proportions, and extends to all descriptions. The average advance amounts to 10 per cent, but in some instances greater. Hides, fair demand ; sales at 50 dols to 55 dols. Tallow, firmer ; offering in good demand at 3 dols to 6 dols; higher for beef. New Zealand flax attracts little attention.