LONDON MARKETS.

Southland Times, Issue 1665, 19 November 1872, Page 2

LONDON MARKETS.

f The New Zealand Loan and Mercantile Agency [ Company report, under date 19th September, as follows : — VFOCKL. ' Bv the arrival of* the Australian mail on th e ' 2nd instant, a confirmation of previoua advices as to the shortness of supply of Colonial Wools, shipped to this market, having been received, the public sales which commenced on 12th instant opened under favorable auspices. In time for J disposal during their currency the following j proportions had up to that date arrived : —

Of these it is computed that about 8,000 bales have been forwarded to the manufacturing? districts, America, and the Continent. If after deduction from the arrivals of the portion so ! forwarded, there be added the quantity held over [ from or not offered during the previous series (25,000 bales), it will be found that the total number available for sale during the present series is under 114,000 bales, and as the shipments known to be on passaee at opening of the present sales did not exceed 13,000 bales, the trade aro now in a position accurately to calculate the i supplies likely to be received he-e prior to the 21 st November, whe>n the final series of ttva year < will commence. A a it often happeae, the opening catalogue of the sales in any one !erie3 does not comprise an assortment of wools which -will afford a true criterion of th« course which the market a r ter their disposal is likely to take. This arises from a feeling prevalent amongst holders that it. is desirable gradually to test the tone of the market rather than swell the first evening's catalogue, until they Bhall have been satisfied that buyers are prepared to meet their demands. The present series has proved no exception to this mode of procedure, and it was initiated by the offering for sale of wools froi-i — New South Wales 1,355 bales, Victoria 509 bales, New Zealand 1,081 bales, and Cape of Good Hope 774 bales, in all, 3,719 Both home and foreign buyers beinsr fully represented, the market opened with an excellent tone, the prices showing —as compared with the closing July rates — an advance of Id per lb on good fleece wools, of %d (g Id per Ib on greasy descriptions, while Cape sorts were unca&ngel, and crias-bre ( growths rather easier in symoathy with our domestic clip. Sales at Havre, which began on 11th instant, have passed off well ; this we think has favorably affected prices here, which, as the sales progress, exhibit very decided symptoms of hardening for all descriptions save cross-bred woo's. Up to yesterday evening, the following quantities had passed the hammer : —

The advance secured on the opening day of sale has, in the case of Australasian Wools, been now exceeded by id per lb, while on Cape sorts no appreciable enhancement has been obtained. Cross bred descriptions continue to be neglected, and exhibit a downward tendency in price. Continental buyers are eager competitors ; fur America, however, purchases are being very sparingly made. The general accounts from our own manu r aeturing districts represent the prices obtainable lor goods and yarns as being unre munerative in comparison to the cost of the raw material and labor. This fact should not, be lost sight of by shippers in estimating the future course of this market. In the event of more ample supplies b«ing from all quarters directed to this centre, a maintenance of present \evz\ in prices ought not next year to ba countad upon.

TALLOW.

At the four weekly auctions of this product, held since the date of our last report, 6,200 casks Australasian were offered, oi' which 4-800 casks foun.l buyers at an average advance of Is 6d per cwt on rates then ruling. On 6th instant, fine muttoD touched 44s 9d, but in the following week a decline of 6<l per cwt was accepted. The market for " sorts" tallow has been assisted by the lightne?s of the shipments advised by Australian nv»il received en 2a.i instant, these being stated to be under 2.000 casks, leaving then only 8,300 casks afloat against 10,600 casks at earue time hist year. Town tallow is also dearer, the market-letter quotation at the end of last week being 45s per cwt. Deliveries have lately improved, although the stock of all aorta on 16th instant was 36.49fi ca*ks, against 23,017 casks at corresponding date last year. For sale to-morrow 1,800 casks Australian have been alvertisa.l. Latest quotations aro as follows: — P.Y 0. 1871, 43s 9d ; 1872, for October and December, 4^s ; Australian mutton, fine, 43s 6d @ 44a 6d ; beof, 42s @ 43s per cwt.

NEW ZEALAND SIMP.

We regret to say that during the past month the marker, lor tiiis fibre has not been supported, prices having given way about 41s per ton, chiefly owing, we think, to the desire of some holders to realise at whatever prices buyers might be prepared to offer rather than impart a firmer tone to the market by hoi- ting back supplies. This course of action was first evinced on 22nd ultimo, when 316 bales were movud off by auction j at a dec-Hue of 20s per ton. In the following week, 2lti bules were catalogued for sale; of these only 164r bales were actually offered, and nearly all bought in. The bulk was subsequently disposed of by private treaty at lower rates. On 11th instant the auctions consisted of 1,020 bales, of which only about 500 bales found buyers at and after ealt?, business having been done at a further reduction of 20s per ton, medium to good medium partly dressed fetching £30 @ £33, and good to fine £34 5s @ £35 per ton. The state of the market for other fibres doubtless still continues to have a prejudicial ! effect ou Nt-w Zealand Hemp, and there appear to be no export orders on hand for execution. Apart, however, from these two causes, there seems to be no reason why the demand for the article should still further fall off. The following is the statement of Stocks, Landings, and Deliveries, according to returns DreDared to 31st ultimo : —

Lauded during August, 1872, 20 tons ; delivered during August, 1872, 59 tons. 22 tons have since then oeen passed ior export to Sew York, and importations amounting in all to 1,156 bales, have been received, viz. : — Margaret G-albraith, 92 bales ; Zeulandia, 250 bales ; Charlotte Gladstone, 253 bales ; Crusader, 534 bales ; Beyal Adelaide, (via Melbourne,) 22 bales.

New South Wales and Queenaland 23.135 Bales. 'Victoria H. 023 „ South Australia 2,707 „ Tasmania 1,000 „ New Zealand 33,429 „ Western Australia ..." ... 427 „ ; Cape of Good Hope 24,863 „ Total 93,584 Bales.

New South Walea and Queensland 6.7C6 Bales. Victoria ... ... ... 5,184 „ South Australia 1,395 „ Ta^tDsinia ... ... ... 85 « New Zealand 10,193 „ Western Australia ... ... 2XS „ Cape of Good Hope 7,107 „ Total 30,988 Bales.

187 L. 1872. Stock August 31st 80] tons. 215 tons. Landings Jan. lst-Aug. 31st 1822 „ 734 „ .Deliveries .... 1935 „ 1300 „