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TRADE AND FINANCE.
„ The prospecta ot' Merino wool vontiuue
favounibk. Advk-cs by Monday's mail
show that the proportiou of SMith Atu
tralian clip told at mlvauccd rates durinz
tuc nrxt week ot the Luuuort Mies iu 3lay.
was about C.0UO bal«. 'lite quantity of
South Australian wool which will probably
be catalogued at the auctions which com
tneuce on June 27 will amount to tfomethini
lcti than 12,000 bales. Arrivals of thu
colour k clip iit tintc for the tale* amount
to about thu total, but allowance he* tu
be made for the quautity forwarded direct
to manufucturing centre*. A happy augury
which i-Uiitains the hope tlwt there will be
a further rise iu \-aluc at the end of tUc
nu»th is the fact that at the sale* of
colonial »be«p*kin» which have jurt bent
held iu Loudou the cataloyues wt-rc nearly
cleared at an atlvaucc for ilerinos and fine
enw«4-red* of from }d. to Id. per tt-^ and
for ordinary cravbred* of from hi- to Id.
(Jrowcrs will recollect that it Mas the rue
in sbccjixkiD* prior to the May wool m!cs
that directed attcntkni to tltc powibility
of a Mitatantial advance in Merino dip.
As on the former occasion, too,, the rixc in
slicepskinx Im* ' been accomi-a'nicd bv a
firmer feeling in Bradford. 'Tor**' have
ri»en i-i. per It*., common description* be
inp (|uotcd at *25d. |ier lb.. as compared witn
l'4id. on May ii, *lx&. on April S, and 1914.
on -lunc 8 laat year. Sti|-er top* arc worth
.Wd. |icr It... an aaainst *J6d. when the laxt
sale* were inprogresisZUd.priorto the am
tioiui, and 'ir-d. a year ago. The Itradford
eorrupuudent of the 'Kconomist** \rrolc
on May i ua follows:— 'The cscitcment
which hat. characterized iho oncninir nights
ot' the pre*cni acrios of «alc* in London is
only felt in a subdued form here. Jt is no
easy to buy wool ut liijrti prices jn the fever
ed atmosphere of the tuleroom, but it is
very different when the spinner and manu
facturer endeavour to obtain corrc-p--ndim;
advance* in yarn or goods. The Kartern
trade, for instance, has of Lite bousht
hearilyir. lowcaj-hmerc*. into which Mcnnc
wnoi enters larjrcly.and thercarestill orders
about. but tbcyarrat limits which manufac
turers to-day d.irc not accept, and j* higher
quotations have to be referred back to t\\:
East probably the. orders will -never lie
placed. The huh* hesitancy is ako seen in
the home trade, though not to the itnw ex
tent. Apiin, in the cs|iort yarn tiade th*
»|-inncr find* that he can only recover a
lartwn of the advance that he is called
upon to pay, even on the -tronccr desenp
ikinofcnvMtrnlKwbeiiliujic? wnnl or topi'.
Hence, thoiuth the market continues very
firm, with a hardening tendency, actual
transactions are not vert* numerous, and
buyer* here are acting with caution. The
position of Merinos is admittedly exception
al, and as there arc many pnrpn.«c5 for
whk-h it is quite essential, it ii po**ihle that
it may maintain its prirv for some time to
come, but it has never b-*cn stijspftod that
tliere w any shortaic in the supply of cross
bred wnoLv*
At the time ??/ the Knglish mail which
was delivered on Monday leaving Ixindon
the prott Ameriran ropprr 'combine' had
Iven definitely placed upon th:- market, and
applications invited for £15.nCfl,O0O in 1!'JO.
It wax stated that the combine, which was
launched as the Amalgamated Copper Com
l*ny of Xcw .lersey. wa# forme-l 'for the
purpose of iinn-hasing and operating cc4--
per producing propertie*.' but the prospei
tus seems to hare larked detailed particu
lars. It was aonounced that the Company
had purcha*cd large interests in the Ana
conda and other* cornier properties, but it
wks not Ftated whether tee total output of
the femur would be controlled. Kvcn it
this were no. it was pointed out that the
Trust would take into account only onc
lialf of the United Crates output, and a
fourth of that of the world. A pood deal
of doubt exUtod whetlier the new Coni
pany is intended to control the copper in
ditstry. like the .^ecrctan project ten yearn
;ieo. or whether it is inorely u combination
of certain of the American mines for ths
imn-o*c of more econcjnienl workinj:. Th-1
Chaimtati of the Company is Mr. Daly, a
very large sliarcholdpr in the Anaconda
Mine. Mr. RochcfeUcr. the Chief of the
Standard Oil Trust, is Secretary and Trea
surer,' while there is ou the iSoard a mem
ber of the prat Xcw .York banking bouse
ot Messrs. Morcan & Co. Thoueh by far
the kirpot flotation, the Amalgamated (-!--
l-er Com|B»i!\- is not by a lone way the only
concern for tin* 1700511!? of cupriferous
fhow.- that has been. lie* ted recently. Bos
ton, which ia a kind of head-quarters in
then; matters, hid had twenty-live new
copper Companies floated or promoted with
in the last »ix months. These Companies
bad a total -toc-k of mine rs000.000 stares,
nlaccil at an averaae of ?|0 each. With re
pani to the Matisticnl pu»itio:t ol the metal,
as far as America i* cweenwd the pro
duction tluring the iirst quarter of the pre
sent year amounted to l*M4l tens, an inr
crease of 0 per cent, on the corresponding
period of last year. This movement has to
be placed alonpwtc an increase of 30 per
cent, in the home consumption of the I ni
ted State*.
Although there is no South Australian
butter at present in London the market re
ports arc still of tome interest. Australia
figured much more largely iu the supply
last seasou than during the two previous
vears. The imports of Australian butter
into the United Kingdom during the first
four months of the current year amounted
to 'JOiWn cxvt . as compared with 15&211
cut. duriug the corresponding period of
1808. and 173,693 cwt. during 1800.
South Australia contributed 1,349 cwt.
Writing ou May 5 the Colonial Consign
ment and Distributing Company stated:—
'Australian and New Zealand butter is still
in smalt compass and the season is practi
cally over. The quality has kept un, and
although prices have fallen considerably
this week, the reason on the whole will be
a satisfactory one to far as prices arc con
cerned. Argentine Uuttcr.-^-Shipmentx of
Argentine butter have maintained their
good quality and prices reab'zed hare been
equivalent to the Australian article. Cana
dian and States butter has been so far in
email supply, but there is every prospect
of a lancer shipment coming to hand
shortly. The quality of the early shipments
has becu puod. and with the improved
methods adopted, together with the en
couragement by last year's prices, there is
erery prespect of tbebe butters matntain
ins their popularity on the market.'
Mefei-b. John Darling 4 Son in their
market report dated Adelaide, June 12,
write a» follow*:—
t* teal.— A uiviinc has tu be recorded in Kuro
puiu maiki-is ot. aiwn tu. \kt iioiiner, and tue
ur.-& table indk-Jtion u tint they are quite,
with cnl- limited Uuiiicw itoiu;. V*iuv- may
be jtivi-n a» trotu ».-J t-i p per ?itttrter e.1.1..
?Mil ??: :t iu ??.'-! t.1.1. for tarcels tu Lvmlon.
Ac amouul ul iMKinstt |wmrs '- tuc vomnic*
is tunicwMl limiteo. ^hippins enj^eemenu in
»ulh Australia, axe cxttciuclr *truui, one rc*cl
Milr, the laatlc llutinr, at present lyadinjf a
.ncr.o tor tbc Lnitcd h.opioui, with tin* O|iliu»
at Sjulh Alrita. Values ntiy he given -or wheat
u i ?*! 10 -S \xe bushel at 1'ort Adelaide ioi
?hill-in^ uircel-- TIk-ic is, however, nu »}rtms
fcnunO, and ihe supply n abuui cmsl to tlw
mill-n' rr»iuireniciii». in ViciorM -hii-mu:u ««-
unite Iu be tnaCc fr«.-cl.-. bi.tb l-y -tcam and tail,
to rtutcl Kins'Wni awl »*Ui Atrka, atw
Hie C-/ntincnt, vhu-u is Ukins alt avaUablc wheat
mrnin-.' to Hand, and pn™» afC -«lrtJr w-dl -min'
Uincd at i'M a««l 2 -I'! !?» bu-hei f.o.b., and
m some «!*?» til per bu»ui-l b «*cd fur imtxU.
Srumy nark-t ha*, in s»m|i«thy »nh tbc otner
niarkcti. «u|wr«l. awl wne«tt ii offered tot
^onntfij- ill 3. iyr- Mbbel va irtKto Uarlins
liarbuur. , ,
Khier.— We *- not Wear ol any panirulir tr»n»
aciiumi K-r export bein» carried tiirough. \ nines
retrain at si) KU t« lU li, \*t ion tor ordi
nary, swl jC* !-: to &i TO per Ion ior bot
talent roller t.o.b. IVt Adelatdf. In \ktorU
we undcntanl a iair Uuinuw bu been carriwl
through, ami one or twu special l«rveb of best
IMteot rrollrrjfcwr liren -|ulttcd lor cxputt at
£it 5 . Thc^iucral -|OoutWn fa- £3 li.ii to
e5 13-' I« t-ii for ordanty,: and «0 0,',to -0
1J tier too f»r b«R fixrttl roller to.b.- Syuney
iwnlrt icmaics steady at about j:o W; to x;
''Bran' iwl IVrfUnL— With the limited rapulic*
price* .n-,inaintauw-l, ana ear iw quoted at
»'d. to »I«L lyt -Hishel for bran and puilard de
Ihcrrl -n .WrlaMr. MHbouruc market »u|»
Ui« i'c onl-- .tlw-Jl equal tu the demand, ami
prices ire Mrl.' iii»;«taiorf at e|d. to Sid. per
bushel fc* both. Stdnry, 9d. to 94-1- per bujnet
VOau— Very little tes!nv*i paasins, and quota
tions tre th-' »mc as ton advfeot. viz., 1/4 to 1,«
per bcjtcl f.j« ftH Alcrriaia. and 1.6 to l.J r*i
bnsbel tor arrd. Nclbuume market is quiet, with
rerr little btnim-u fh-ir«. and quoution* are
1/5 t* 1/8 per Hiehel (or Algerians, aonruin?
to qaalitr. While vais nwet a limited demand
at'lEfto 1,8 p»r bushel in bood-Mdbounir, and
?fanmrqaaUU^ per busheltn bootfVAdelaMe.
tCoBtaS*. remain, in fair,dem»n-! at -Mi per
uVanb'A&taide, 5'9 to 0/.;per dozen Melbourne,
.nrtiai-to 6/ ptr «W*e»'b.ydivr. Tne/QUtn*.
howWr^H *boniv duc^whh heavy rtlpmentj oT
conmckf; when lower 1 [ratts an epect«lJ to
rule ' '''? '* ' *^*'-' :' ?' -' ' ? ^**-
Unnbaes meet a'steadr-budac* in all cokmies
at*Sito*3. -y - ? ? ;. ' - - »
Tne Kaniue Oakbnrst, which arrived at
Port 'Adelaide 'from Liverpool ' on Sunday
has a cargo valued' nt £UJ0O to'diechar^p
at tbat port. The chief lines are:— Oil and
floprcMu, £400: cotton, wnite. 5 t«n»;
printing paper, fit cwt.; hardware cutlery,
£600; iron and steel, 7V2 tons; piipron, 40
tons; galvanized iron, 43 tons; tinplates,
2^10 boxes: wire. 34 tons: oil, 740 galls.;
((last, '? £120; china and earthenware,
£1,780; bricfe, 10 iniitc.; beer, and spirits,
8,394 galls.; white salt, 61 tons; bicarbo
nate soda, 580 cwt.; as» and potash, 78
ton*;; caustic soda, 43 tons; alum, 51 cwt.;
and, quantity, drapery- ' -?
?h i-i^'i ?'?»'? :?' — r- ?? t- I -vj} i. ?'? '. :
l^eporti byt the liiglish' mail go to show
that ut none of the kuropcau countries do
the wheat crops give the same prombe tuts
year that -tBey- did: ini-1898, and as the
Anierican. barvest is considered likely to
yield from 50,W,000- to 70,000,000 bosliels
lew than 'it did. last year no encouragement
is given to'beari*Ji' factors in the market.
At the same, time supply ia sufficient to
satisfy demand, and adoler* seem to have
come to the v conclusion that the present
ranee of quotations provides a fair market
profit.' Turning to the position in these
eolouie* the price of wheat ruling in bydncy
lias led to some talk of importations from
America, but iw the margin of profit is
Kitreely-largc enough it is considered that
such a. step cannot be taken just yet, ,h-
that Adelaide' millers art likely to enjoy
the market yet awhile at any rate. Ma
tistiw relating to the disposition oftbis
colony* last crop show that about 8£0i»
tans have been esubrted to date, while
50,0110 tons arc said to be in millers hands
or at railway stations. Thia would leave
about 30,000 ton*' still on farms, but this
is always a more or less unknown quantity.
There w no animation in the local market.
The sale «rf a taareel of 1,100 bags at 2;9 was
reported on Monday. Flotir is ea-y. ^ales
are reiK-rted up to. jf« 12 6. Bran and pol
lard are unaltered. We quote as follows:—
Wheat.— 2t$i to 2'9 at Tort Adelaide.
Flour.— £S 15/ per ton.
Hran.— 3d. '
Pollard.— 0d.' ' .,
Oats.— New Zealand, from 3'ln to 4. ;
dun and. Algerian, 1,6 to 1,9;. while, 2/ to
'i'haff.— £2 to £? 5/ per short ton, bags
extra. .
Stocks of -iranoAed -merchandise, have
been further replenished by the arrival ol
two full oversea. cargoes from London and
Liverpool. Monday V business in open mar
ket' was only of limited volume, and con
fined to trade lots.1 Price*, however, are
well maintained generally. Eastern p/odnec
is strong, but Calcutta market lor jute la
bries is just a' shade easier.
$