COMMERCIAL.

Gisborne Standard and Cook County Gazette, Volume II, Issue 272, 12 March 1889, Page 2

COMMERCIAL.

N.Z.L. and M.A. CO.’S REPORT. Under date of London, January 26, the above Company reports:— Wool.—The market during the past month hai been quiet, and the business passing at this centre has hardly been sufficient to test values. At Berlin on Xslh instant 2,100 bales Cape Wool were brought forward at public auction, and 1,700 bales were sold at prioes which ruled on a par with the rates current in that city in September last. On the same day the first series ot Antwerp sales commenced, and on chat oooasion the bulk of the offerings, say, 2,500 bales, oonsisted of Australian produce. Of Chis quantity 1.760 bales were disposed of at rates about on the level of the closing quotations of the last London sales. The auctions at Antwerp terminated on the 18th instant, River Plate Wool making a slight decline on the prices ruling at the October sales in <hat oily. At Havre on the 23rd instant 1.879 bales of similar origin were submitted to the hammer, but only 467 bales were sold at a dealine of |i co ji per lb on November rates. The arrivals to dale f>r the first series, which will oomm-noe here on the 29th instant, aggregate 329,517 bates, bat En unusually large proportion—nearly one-third of the total quantity—has been sent to the manufacturing districts direct. As at present arranged, tbe series will terminate on the 21st proximo. Flour to a large extent followed the fluctuations in wheat. Snipments from the United States were heavy during the first half of tbe rear, but later on fell off very considerably, a feature which has already been alluded to. Receipts from Australia were moderate, and from New Zealand very small. Oats proved a disappointing crop in this country, but prices were not appreciably better than in 1887. Supplies from Now Zealand, which in that year were very heavy, were extremely limited in 1863, a better market evidently being found for thorn in Australia. Barlev in Great Britain was practically spoiled by the wet weather which before and at time of harvest. The few fine lots available realised extreme rates, whilst interior paro-ls proved difficult of sale. Thera were no arrivals from the Australasian colonies,

Cocksfoot grass seed.—Arrivals in this country from New Zealand in 1889 were nearly four times greater than in the previous year, and prioes gradually gave way, quotations at the close ot the year being 15s per owt, lower than at its commenoament. Had it not been for the partial failure ot the American crop and the absonoo ot supplies from that quarter, a still more serious tall might have occurred, Considerable stocks remained in first hands at the dose ot tbe year, and as consumers' wants have been to a large extent supplied, the immediete prospects ot the market are not encouraging Tallow.—Notwithstanding a considerable increase in the imp irte, the year which has just terminated witnessed a remarkable advance in the value of this article, prices dosing nearly 40 per cent, higher then at the opening, Early in the year a sharp advance occurred in consequence ot speculative baying on Continental account, but the improvement was not long sustained end values, with but slight interruption, gave way until the middle of July, when they were about 2« per owt, below opening quotations and not more then 61 per owt, dearer than at tbe lowest point ot 1887. From that period up to ths end ot ths year prices gradually hardened and at its termination marked a rise ot, ray, J.2s per owt. trom the bottom both on mutton and beef. This substantial advanos was in part the legitimate outcome ot the circumstances of the trade, but was mainly due to the operation of a syndicate in Paris which, holding large stocks there, sought to gain control of the market and thus artificially to support rates. The period selected for this action may be said to have been well ohoson. «s prices were abnormally law, the quantil; ut home melt was unusually short, stocks ot colonial tsllow were moderate, and supplies in sight were by no in-ana excessive. To what extent, however, these operations will prove permanently successful remains to be seen, and in this connection it te worthy 'c note that, after a certain point, the trade generally followed the advance with great reluctance, only purchasing to satisfy actual requirements. Present prices can hardly ba considered excessive, but it is doubtful whether the state of the trade justified so important an advance in so brief a period, *d it seams more than probab'e that an attempt to resell any considerable quantity ot lbs stocks now held on ths continent would have a prompt effect on quotations,