COMMERCIAL INTELLIGENCE.

Southland Times, Issue 954, 20 May 1868, Page 3

COMMERCIAL INTELLIGENCE.

London, March 27. Southey and Son, on the termination of the colonial wool sales, write, under 1 date 26th March :— " The first series of colonial wool sales for the year commenced on the 27th ult., and comprised 16,983 bales. After a period of depression unexampled in duration, we are able to record a distinct tendency to a revival in the condition of the wollen trade, which, in the absence of excessive stocks of raw material in the hands of the manufacturers, has exercised a direct effect upon the woollen market. "With the exception of particular branches affected by the cotton improvement, in the English trade there has been a decisive return of confidence, and a more hopeful view as regards the future. The series opened with a very full attendance, both of English and foreign buyers, and a brisk competition, and during the first few sales an advance varying from id, to Id per pound was established. In the case of low and medium Sydney fleeces the improvement hardly amounted to the advance of id per lb., while quotations of greasy Australian and New Zealand did not exceed it. The price of wheat, especially foreign, is fully maintained. At the public sales, the demand for tallow continues good: 421 casks of Australian found buyers at previous rates for mutton, and an advance of £1 for beef. A trust is proposed to be created which will hold stocks and securities confided to its administration. Lord "Westbury, Lord Eustace Cecil, Mr Sandford, Mr Currie, and Mr Philip Rose have undertaken the trust, and to them have been transferred a number of colonial and foreign dividend-paying stocks in which £1,000,000 has been invested, and in which those of New South Wales stand prominent for £50,000. The selection of New South "Wales debentures evinces an appreciation of the value of that security. Mr Thomas Baring has resigned the chairmanship of Lloyd's, which he held for nearly forty years. The Atlantic Telegraph Company have abandoned the idea of raising new ca p The Board of Trade returns for January show a falling off of more than half a million, as compared with the same month of last year. A meeting of the larger shareholders of the late firm of Overend, Gurney, and Co. has been held, to appoint a committee to prosecute the directors, and to recover the losses sustained. Resolutions were passed condemning the conduct of the directors, who were charged with being guilty of the most stupendous fraud that ever disgraced the history of Great Britain. Sir Morton Peto has been examined in the Bankruptcy Court. The case was j further adjourned. The Peninsular and Oriental Company have made a reduction of one-half per cent in their rate of freight of silver for India. The new Millwall docks have been opened for business. The entrance to the lock is the largest in London. There is abundant warehouse accommodation.