COMMERCIAL.

Poverty Bay Standard, Volume III, Issue 247, 13 February 1875, Page 2

COMMERCIAL.

Flotsam.—The twelve bales of wool, part damaged cargo ex Pretty Jane were sold by Mr. Greene at the wreck on Friday lust for £M). From the New Z -aland Loan and Mercantile Ag ncy Company’s Circular for December we quote the following:— Wool.—The fourth and concluding serif's, which, as announced in our last issue, opened on 17th ultimo, was brought to a termination on 7th instant. Owing to interruption caused by foggy weather, an extension of two selling days beyond the time originally contemplated was rendered necessary. In the foliowit g tabulated statement will be found reept ctively the irrivals prior to and the qu. ntiti s catalogue 1 during the sales, viz.: — Quantities

While he attendance of buyers during the firs: week of the sales was on a par with that g nerally to be found at this season, of the year, their biddings lacked the animation which was characteristic of the preceding series. As five sales progressed this feature became more u a ked, leading to great irregulai i y in the prices realised from day to day, and to s ich an ahse iee of competition as to entail either the a ce; tance of lower rates on the part of holders, ns- e-mstdorabie withdrawals from time to rime. Cipe Wools being in largest supply and subject t-» the defects mentioned in our Circular No. 90, were j laced throughout the sales at a decline ranging from Id to 31 per lb according to quality. Notwithstanding the sma’l quantities of Australasian descriptions available for disposal, the general weakness exhibited peeve ited the values previously current for these imports being sustained, and accordingly the sales closed at a discount on September rates. The fall, although general, was great; r in the case of some Wools than others ; thus, faulty descriptions of scoured and washed fleeces reee led in value 2d to 2kl per lb, while better qualities gave way only ]}•! to 2d. The average decline on greasy descriptions closely a »proximated Id per lb. Th-* total quantity purchased for export is estimated at 20,000 bales. Although the result of the sales has been generally disappointing, there is considerable diversity of opinion as to whether the decline recently submitted to is the precursor of a further full in the value of the staple during 1875, or whether buyers in expectation liiut they might operate on muro favorable

terms in February next, have now withheld from purchasing beyond their immediate requirements, unless at a discount on previous prices. In support of the former view may be cited the fact that during the currency of the sales numerous lots of second-hand Wools purchased during the August-September and preceding series were disposed of at a loss to the original buyers. The date of the commencement of the next series has not yet been announced, but it will probably take place about the middle of February. A portion of the new Victorian clip came forward per Great Britain in time for disposal during the late series. While the washed descriptions did not meet with a better market than kindred wools of older growth, greasy kinds were purchased at prices more on a par with September rates. We have reason to believe that the purchases of these qualities on the part of foreign buyers were tentative in order to test their outturn prior to the commencement. of the February sales. The prices paid for them, meanwhile at Jeast, cannot, therefore be accepted as a criterion of those which may rule for like qualities at next st r.al auctions. Tallow.—Consumption does not keep up to the level of 1873. Deliveries since Ist June to same date are 42,070 casks and 36,208 casks for 1873 and 1874 respectively. Town tallow remain at 45s per cwt. Finest Australian mutton is worth 41s 6d to 45s per cwt.; finest Australian beef 43s to 43s 6(1 per cwt., medium qualities being saleable at Is per cwt less. New P.Y.C. is quoted at 46s per cwt. Wheat.—ln Adelaide Wheat we do not hear of any transactions, the small quantity in stock being firmly held at prices beyond the ideas of intending purchasers. The Atrato (» s.) was reported from Lyttelton, N.Z., via Cape of Good Hope, three weeks ago, with about 6,000 quarters of wheat. Present quotations for New Zealand are as follow, viz :— Extra Sorts ... 51/@ 52/per 4961bs Goo<l 49/ „ 50/ „ „ Ordinary 46/ „ 47/ „ „ Out of Condition 43/ „ 45/ „ „ Australian Flour of fine quality is worth ... 35/ @ 36/ per 2801bs Do. do. ordinary 31/ „ 33/ „ N.Z. Flour is worth 30/ „ 32/ „ Kauri Gum.—Since 17th ultimo there have been two public sales of this import. The first took place on 26th ultimo, when 1,378 cases ami 19 bags were brought forward, of which only 280 cases and 19 bags found buyers at previous rates, good clean bold scraped amber sorts making 52s 6<l to 54s 6d, more mixed qualities 45s to 49s 6d, while halfscraped medium kinds rather soft realised 42s 6d to 43s per cwt. At the auction held on 10th ultimo no desire on the part of dealers to increase their holdings was exhibited, 420 cases were brought forward, but. only 8 cases passed the hatnmea, at 45s 6d per cwt. for medium qualify. In order to induce a more extensive consumptive demand, holders will require to accept lower rates. In the following statement are embraced the Stocks, Landings and Deliveries as on the 30th ultimo, in contrast with those at the corresponding period of last year, viz-

1873. 1874. Stock 30th November 1,828 tons 945 tons Landings Jan./N0v.... 1,587 „ 847 „ Deliveries do. 1,925 „ 1,997 „ Landed during N0v.... 120 ~ Delivered do. ... 140 „ New Zealand Hemp.—During the past four weeks very little business has transpired in this fibre, transactions by public auctions held on 18th nit. and 2nd instant, have been chiefly confined to the disposal of a few damaged lots. On the latter date, 287 bales were offered, but all with the exception of 30 bales were withdrawn. A small sale by private treaty of fair clean bright has been reported at £2O per ton. An addition to our previous heavy supplies was made on 24th ultimo by the arrival of the Atrato (s.s.) with 346 bales. The prospects of improvement in this article continue to be as remote as they were on the publication of our last issue, low prices failing to beget any speculative feeling on the part of dealers, while the trade decline to operate except in retail quantities, so long as the present level of Manila Hemp is maintained.

Arrivals, bales. Catalogued bales. Nev Soui h Wales and Queensland 17.398 ... 19,864 Victoria 10,913 ... 11,919 South Australia 1,579 ... 1.980 Western Australia 405 410 Ta-mania 319 ... 187 New Z aland 9.888 ... 13,291 Cape of Good Hope 45,106 ... 38,776 ■I — — Total 85,665 89,187