COMMERCIAL.

Stratford Evening Post, Volume XXXII, Issue 72, 21 March 1912, Page 6

COMMERCIAL.

LONDON REPORTS. (Received 21, ,10.5 a.m.) London, March 20. Tallow.—Seven hundred and sixteen casks wore offered and 519 sold. Mutton, fine 365, medium 335; beef, fine 355, medium 32s 6d. The Bank of Australasia deposits totalled £17,114,474, cash securities £8,079,677, bills £15,892,890. Wheat.—An Australian cargo sold at 38s. AMERICAN WHEAT SUPPLY. (Received 21, 12.30 p.m.) London, March 20. The American visible supply of wheat is 112,408,000 bushels. > LONDON WOOL SALES. The following report, dated February Bth, has been received by the local agent of the N.Z.L. and M.A. Co. from the London house:— The first series of London wool sa.es, which /commenced, on January 16th, terminated on February 3rd, no sales being held on 22nd and 25th ultimo owing to fog. The quantity available was 181,500 bales, of which 169,000 bales were sold, 94,000 bales being taken by the home trade, 68,000 bales by the Continent, and 7000 bales, by America, leaving 13,000 bales on hand. There was throughout a full representative attendance, a larger number of American operators being present than for some considerable, time past. At the opening competition was general and spirited and as compared with preceding sale’s closing rates values on the whole showed little or no change. With the progress of sales under the influence of keen bidding values for greasy New Zealand crossbred hardened, fine and medium grades suited to United States requirements marking an advance of 5 to 7* per cent, fine-haired merino for which there was a strong demand on home and Gorman accounts, also frequently being the turn dearer. In merino and inferior sorts of the latter, however, some irregularity was manifest, average qualities barely maintaing their position, while wasty and inferior descriptions mostly ruled 5 per cent cheaper. During the final week, with more discrimination and less eagerness in the bidding on the part of the American section, the advance in crossbred was for the most part lost, greasy descriptions at the close practically ruling on a par with December. For slipe and scoured crossbred the demand was somewhat irregular, and opening rates were not maintained. Tli' present position of values as compared with the close of the sixth scries of 1911 may be summarised as follows :—Merino (greasy and scoured) isuper, par; do. medium, par to 5 per cent lower; do. inferior 5 per cent lower; crossbred greasy, par; do. scoured, 5 per cent lower; do. slipe, par to 5 per cent lower; lambs, par.