Commercial.

Poverty Bay Standard, Volume IX, Issue 988, 19 October 1881, Page 2

Commercial.

LONDON SEED TRADE. Messes. John Shaw & Sons, of 37 Mark Lane, London, E.C., report through their agent, Mr. Leonard W. Blake, of Christchurch, that the market during the fortnight ending 26th August, was quiet. Red clover exhibited increasing firmness, owing to cable advices from America, announcing that the export movement to France had assumed important proportions. This still further points to a failure of the crop there, and not only there, but the prospects of the new crops appear universally bad. Long prices being asked for new trefoil, and it is expected that both alsyke and white clover will also be high. The consumptive demand for trifolium was keeping good, at late rates. Italian ryegrass was held for enhanced prices which prohibited business therein. Mustard and rape seeds, for sowing purposes, were hardening in value, as also were winter tares, hemp, and canary, the latter being several shillings per quarter dearer. Scotch turnip seeds very scarce, and 10s to 15s per cwt. dearer. London Produce Markets. The local agent of the New Zealand Loan and Mercantile Agency Company has received from London the following produce telegram, under date the 7th inst.Wool—The sales closed on the 7th inst., at the level of last sales prices. The total number of bales sold during the past series was 330,000, 170,000 of which were taken for export —40,000 bales are held over for future disposal. The following advances in prices have been shown during the sales Superior combing, washed, Id to l|d per lb.; fine greasy crossbred, fd to Id per lb.; fine washed crossbred, |d to Id per lb. For superior greasy the market is firmer, and for medium and inferior greasy it is easier. Faulty short staple merino scoured wool is neglected. For greasy crossbred the market is unchanged.

The New Zealand Loan & Mercantile Agency Company’s Report of the 26th August says:—The third series of Colonial wool sales for the present year opened on 23rd inst., with arrivals as follow : — New South Wales & Queensland 104,585 bales Victoria 76,227 „ South Australia ... ... 24,032 „ Western Australia ... ... 802 „ Tasmania 14,394 „ New Zealand ... ... ... 87,677 „ Cape of Good Hope 67,725 „ Total ... ... 375,442 bales

Of this total some 33,000 bales—-12,000 Australian and 21,000 Cape—have been forwarded direct from ship to the various centres of consumption. Deducting this item and adding 41,000 bales, the quantity estimated to have been held over from last series, the total quantity available for disposal appears to be about 383,000 bales. . The opening catalogue comprised the following assortment: — New South Wales & Queensland 4,030 bales Victoria ... ... ... ... 1,803 „ South Australia ... ... 741 „ Tasmania ... ... ... 769 „ New Zealand ... ... ... 455 „ Cape of Good Hope ... ... 365 „ Total 8,163 bales The market was well attended, and for the the bulk of the purchases good competition was evinced. Cross-bred descriptions, of medium to inferior quality, were apparently slightly below the closing rates of last series, but the quantity submitted to auction was not sufficiently large or diversified* in character to admit of the market being thoroughly tested. Merino wool, scoured, washed, and in grease, exhibited but little variation, save in the case of faulty lots, which, if indifferently scoured, were less readily taken than the better parcels. Cape wools were sold at prices slightly in favor of buyers. The conditions of manufacture continue difficult, and the more hopeful feeling as to the future of the trade which prevailed during the early summer has of late been somewhat disturbed by unfavorable harvest weather, and the apparent failure of negotiations in reference to the French Treaty. It is yet too early to form a definite opinion as to the course which the sales now in progress may take, but it may reasonably be assumed that under the less cheerful prospects of trade generally the abnormally large supply of wool now here will be found to press heavily upon the market before the series is brought to an end. If, as is not improbable, some portion of the wool forwarded direct to buyers from ship should be catalogued for sale insrtead of going into immediate consumpion the pressure will be intensified.