COMMERCIAL.

Globe, Volume VI, Issue 693, 8 September 1876, Page 2

COMMERCIAL.

MELBOURNE,-The "Argus" of the 30th ult reports:— In the import market a considerable amount of business has been reported throughout the day, and sales have ranged over a great variety of goods, and transactions to some extent have been carried through. Breadstuffs are very slow, and we have seldom seen business in that market so completely at a standstill. Flour is nominal at £l2 7s 6d. There is no business to report. At auction, a parcel was offered, but not sold, the bidding not being satisfactory. Wheat is quoted at 5s Vd to 5s Bd, but we have no actual sales to reier to; there is little offering in the market, even were buyers anxiouß to operate, and the quotation given is relatively lower than Adelaide quotations are at present. Oats were also offered at auction without resulting in business. Maize is firm at 3s lod, and there is a lair inquiry for trade purposes. Sugars are decidedly better, and at the auction sale this forenoon, more animation was exhibited than has been noticeable at any public sale for some time, and the auctioneers succeeded in securing an advance of 30s to 40s on rations, and 20s on other descriptions, while quite as much, if not more, money was realised lor damaged, as could be got last week for sound. 1405 bags Bourbons were cleared off, when low yellows brought £27. browns £25 to £25 158, and rations were cleared off at £2O to £21155; 873 bags damaged Mauritius were disposed of at £2915s to £33 10s, and inferior was quitted at £23 to £27 ss; 308 bags were also sold, when brewing crystals were disposed of at £32 ss, and medium counters at £2B 5s to £2B 15s, Another shipment of crushed loaf sugar, about 40 tons, has been taken up to arrive, on private terms. Last week we referred to a telegram received in the city dated London, 16th August, which reported that stocks of sugars were less than at the corresponding period last year. This telegram being kindly placed at our disposal, we ebserve that the decrease on stocks in the United Kingdom, on 15th August, was 15,000 tons as compared with the same period the year before, The decrease on the 11th August, four days belore, was only 5000 tons, and it will thus be seen how rapidly the reduction was going on, affected, we presume, by the deficiency in the Cuban crops referred to already. The Emma, just arrived from Mauritius, brings the first cargo ot the new crop consigned to Messrs Kolfe and Co. Her dates are to 21st July, and our circulars to hand are to 20th July, the same as the date of the telegram received via Aden, and published some time ago. Messrs Ireland, Eraser, and Co report that a considerable number of estates had been at woik two or three weeks; but some had been obliged to stop, on account of continual rains. Little sugar had come forward, and the market could hardly be said to be fairly opened. A few sales of grocery sugar had been made. Finest Constance white had been sold at 7,30d0l to ?.35d01; fine whites, at 7dol to 7.10dol; and finest yellow, at 6dol to 6.50d01. These qualities were very scarce. Eations were also scarce, as usual, at the beginning of the season. There was little demand for tonnage: as the season advanced, however, a good enquiry was expected, but it was not anticipated that more than one or two cargoes could be despatched before August. Much disappointment was experienced from the non-receipt of telegrams or letters—the mail, however, was expected by the 30th. The vessls loading were the Glenallyn and Esperance, for Adelaide; the Garmouth for Melbourne; and the Emma, for Dunedin. Freights were quoted at 25» for Melbourne and 22s 6d for Adelaide. Exchange on London buying rate 12 per cent premium for 90 days' sight; on Australia, 60 days' sight, the rate was 9 per cent premium. Telegrams report an advance on freight from London to the extent of 40 to 50 p r cent. The failure of a very extensive candle company, involving a very large amount, is also referred t.o