Commercial.

Poverty Bay Standard, Volume IX, Issue 1001, 19 November 1881, Page 2

Commercial.

(From the Loan and Mercantile Agency Company, Limited, of the 6th Oct.) Wool. —The third series of sales, which commenced on 23rd August, will close to-morrow, 7th instant. Inclusive of this evening’s catalogue, the following quantities have been offered : — New South Wales & Queensland 98,262 bales Victoria ... ... ... ... 78,905 „ South Australia ... ... 25,733 „ Western Australia ... ... 747 „ Tasmania ... ... ... 15,249 ~ Now Zealand ... ... ... 81,944 „ Cape of Good Hope ... ... 45,137 „ Total 345,977 bales Of these it is computed that about 28,500 bales have been bought in, a portion of whjch have been re-offered during the currency of the series. Foreign competition has been sufficient to absorb some 170,000 bales. The quantity which will probably remain on hand at the conclusion of thisjseries is estimated to be 45,000 bales. At the opening while there was a good attendance competition was not animated, and the closing rates of the second series were not throughout maintained. Wools adapted to home wants were less enquired for than those suitable for export, and in the case of faulty scoured parcels and coarse cross-bred and kindred sorts, whether scoured, washed or greasy, a decline ranging from |d to l|d per lb. was soon established. Lambs’ wool also, with the exception of greasy parcels free from fault, sold with much irregularity. After the first three weeks greater steadiness in values was secured, and those descriptions for which less competition had been evinced were more eagerly sought after. It may be said generally that having regard to the large jlaily offerings the level of prices has been throughout fairly uniform, the fluctuations recorded having been confined to particular description. During the earlier portion of the series the adverse and unlooked-for harvest weather naturally deterred Home buyers from becoming free operators, but this check to their purchasing power proved to be but temporary, and throughout the last four weeks they have bought quite as freely as the foreign section. While the sales will close practically on the level of June rates, it may prove of interest to our readers to record here the position occupied by various leading descriptions in their relation to these prices:—Good Greasy Merino Combing, free from fault, par to |d per lb. advance. Medium, faulty and inferior greasy Merino, par to id per lb. decline. Superior washed Merino fleeces, free from fault, Id to I £d per lb. advance. Medium to good Merino unchanged. Good scoured Merino, unchanged. Medium and faulty scoured Merino, |d to id per lb. decline. Fine Greasy Cross-bred | to Id per lb. advance. Fine washed and scoured Cross-bred, par to Id per lb. advance. Coarse

Greasy Cross-bred, par to Id per lb. advance. Coarse washed and scoured Cross-bred, par to fd per lb. advance. The arrivals for the fourth series, which will commence on Nov. 22nd are subjoined. Inclusive of held-over wools and fresh arrivals the total available will probably amount to 130,000 bales. The quantity of new clip Australian wool to be then offered will doubtless be sufficient to induce the attendance of a contingent of foreign buyers, while the existing conditions of our domestic trade give hopes of material supoort being afforded by Home buyers. There is no reason why the present moderate level of prices should not be maintained and in the case of good shafty descriptions free from fault, which will then be in limited supply, it may possibly be exceeded. On the other hand as a very large proportion of the wools now held over consists of medium and faulty descaiptions, any tangible advance thereon cannot be looked for with certainty during the remainder of the present year. Arrivals for the fourth series are as follow : — New South Wales & Queensland 4316 bales. Victoria ... ... 6,696 „ South Australia ... ... 1,354 „ Western Australia ... ... — » Tasmania ... ... ... 774 „ New Zealand... ... ... 6,322 „ Cape of Good Hope ... 18,397 „ Total 37,853 bales.