COMMERCIAL.

Poverty Bay Standard, Volume III, Issue 280, 12 June 1875, Page 2

COMMERCIAL.

From the New Zealand Loan and Mercantile Agency Company’s circular of the 6th April. Wool.—The first series of sales of colonial wool for the present year, which opened on 23rd February and was in progress at the date of our last Circular via San Francisco, was brought to a termination on the 25th ultimo. For convenience of reference we repeat a list of the arrivals in time to be included in these ■ales. Available Arrivals. Jfew South Wales and Queensland 18,893 Bales. Victoria 100,333 „ South Australia 40,944 „ Western Australia 337 „ Tasmania 410 „ New Zealand 4,657 „ Cape of Good Hope 47,831 „ Total 213,405 Bales. About 14.000 bales (viz., 2,000 Australian ■nd 12,000 Cape) of the available arrivals had been forwarded direct to the Continent, Yorkshire and the United States. The issue of an amended programme showing an intention to bring the series to a termination earlier by a fortnight than the date at first decide! on, had the effect of confirming the improvement in the market already recorded, and prices generally recovered the decline of Id to lid per lb a hich hail been established at the commencement of iho sales. The exceptions to this rule consisted of extra fine fleece wools of Victorian and New South Wales growth, the demand for which has been prejudicially affected, partly by a change in fashion, partly by the flatness oj the American trade. Of the quantity catalogued, it is estimated that some 7,000 bales have been withdrawn and either subsequently disposed of privately or held over to be re-offered at a future series, Both home and foreign buyers have attended in considerable numbers, and the demand for the Continent has been active throughout, resulting in the sale for export thither of about 115,000 bales, but competition on American account was almost entirely absent. The last-named circumstance is largely explained by the purchases made to an increasing extent, both in Australia and New Zealand, for shipment to the United , States direct. We have already spoken of the finest class of fleece wools from the Australian Colonies. N< w South Wales medium descriptions of fleece were o ly in moderate supply. Those in good condition commanded fair competition, but the larger proportion was seedy and bnr-y. Imports from Victoria, which, as will be seen, constituted nearly half the total quantity offered, were as a rule well grown, sound and in good condition, though scarcely so fine as in previous seasons ; both scoured and greasy were well competed for; the increasing prevalence of burrs in shipments from this colony also is, however, genera ly remarked. South Australian wools, whi. h were for the most part in the grease, exhibit) d on the whole an improvement in breed and condition on those of previous years, and secured a good amount of attention from buyers. New Zealand parcels were not of a representative character, consisting chiefly of scoured and skin wools, which sold at prices showing no material alteration from those o f the November and December auctions.

Cross-bred wools of the coarser types have continued to suffer some depression in sympathy with the state of the market for domestic wool. Lambs’ wool having met excellent competition, has maintained the favorable position which it occupied in the early auctions of the sales. The next series of sales for the present year has been fixed to commence on 4th May. It is expected that 300,000 bales or more will be forward in time for inclusion therein. Appended is a note of the arrivals to this date:—

New South Wales and Queensland 14,922 Bules. Victoria 46 904 „ South Australia ... ... 25,394 „ Western Australia 1,447 „ Tasmania 2,534 „ New Zealand 8,997 „ Cape of Good Hope ... 20,733 „ Total 120,933 Bales

We observe that shipments of wheat from the Atlantic ports to the United Kingdom during the three months ending 31st March, were only 479,000 quarters against 919,000 for corresponding period of 1874, while from San Francisco, for a like period, they had increased from 530,000 quarters last year to 630,000 quarters in 1875. The aggregate quantity of wheat on passage to the United Kingdom is about 1,500,000 quarters against about 1,200,000 quarters at corresponding period in 1874. Stocks in London on 31st ultimo were reduced to the unprecedentedly low quantity of 43,485 quarters of wheat against 241,507 in 1874, and 177,860 in 1873. Those of flour were 293,913 cwts as compared with 367,076 cwts in 1874, and 375,000 in 1873. At the same dates the stocks of maize weie 27,317 quarters, 21,976 quarters and 98,984 quarter* for 1875, 1874, and 1873 respectively, while of oats the quantity show* a heavy decline to 38,063 quarters against 228,166 quarters in 1874, and 215,672 quarters the previous year. / Market quotations are as follows : — Australian Wheat (nominal) ... 50s per 496 lbs New Zealand Wheat 46s @ 48s „ Australian Flour... 30s „ 33s per 280 lbs New Zealand Flour... 26s „ 30s „