COMMERCIAL

Star (Christchurch), Issue 5989, 30 September 1897, Page 3

COMMERCIAL

THE WOOL SALES. [Per Press Association.! LONDON, Sept. 2S. The fifth series of colonial wool sales opened to-day. The market is firm, prices showing a general advance. Sept. 29. At the wool sales, Messrs Baline and Buxton offered 8861 bales of medium selection wools. The attendance was large, including some American buyers. Competition for all classes of wool was keen, prices ruling fully 5 per cent above the closing rates obtained at the July series, with the exception of low cross-breds, which remain unchanged. Home and Continental buyerß operated freely. Arrivals to date total 177,000 bales, of which 47,000 have been forwarded direct to consumers ; 170,000 bales are available for the sales. At the weekly auction sales of Australasian tallow 2200 casks were offered, and ' 625 were sold. Fine mutton brought 20s, I medium 17s 9d ; tine beef 18s 6d, medium i 17s 3d. Silver 2s Id per oz. Nationalßank of New Zealand shares, .£2. Bank of New Zealand 4 per cent ! guaranteed stock, 104. New Zealand Loan I and Mercantile Agency Company 4 per ' cent prior lien debentures, 99. The total quantity of wheat and flour afloat for the United Kingdom is 1,4-10,000 j quarters, and for the Continent 1,750,000 quarters.

The New Zealand Loan and Mercantile Agency Company, Limited, has received the following cable message, dated LONDON, Sept.' 29. Tallow is dull of sale, and has declined 3d per cwt since last report (last quotations were 20s for fine mutton and ISs 9d for good beef). Wool. — The sales opened at an average advance of 5 per cent on last sales' closing rates. The principal advance has been in scoured merino. Competition by both Home and -foreign buyers is active. Attendance of both Home and foreign buyers is good. The total quantity available, including wool held over from last series; is 217,000 bales, 47,000 bales of which have been forwarded to the manufacturing districts direct.'