COMMEECIAL.

Southland Times, Issue 1531, 30 January 1872, Page 3

COMMEECIAL.

London, Dec. 1

The wool sales commenced on the 23rd November, and will close on the 7th December. The catalogues to date comprise 38,600 bales. The attendance of home and foreign buyers was large, and the competition very brisk at the commencement. September prices were fully supported. Clothing and scoured from Sydney, Melbourne, or New Zealand brought from Id to I^-d advance. The next sales commence on the Bth February. The market is healthy, active, and encouraging for buyers.

The cotton market is quiet,

The Alexandrina has arrived from Auckland with 190 bales New Zealand flax. Since the 18th November the market has been very firm, 1500 bales having been offered at auction, and all sold, showing an advance of 30s per ton for the month. Considerable business has been done for America in second hand parcels at £27 to £30 per ton. There is a good demand for low sorts at from £20 to £23, but they are very scarce.

The market for kauri gum remains quiet. 3000 cases were offered at auction, and a portion was sold at from 10s to 12s for dressed to 35s 6d to 50s for bright well scraped.

The shipments of tallow from Australia for the month are short, and the market has hardened for T. C. Australian mutton, 47s to 48s ; beef, 45s to 465.

New Zealand securities. — Sixes, 110 to 112 ; fives, 102 to 103 ; Consolidated sixes, 111 to 114. New Zealand Loan and Mercantile Agency Company, -f to -fpremium; Trust and Loan, 11 to If premium ; Otago and Southland Investment Company, ■§• to ■§• premium ; Bank of New Zealand, 181 to 191.

The Bank rate of discount was reduced to 31 on the 30th. There is no demand for discount at the bank, and in the open market there is little enquiry at from J- to f-. There is very little business in the general share market.

Government securities remain unaltered.