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Grey River Argus, Volume IX, Issue 623, 15 January 1870, Page 2

A tjcklau d . — Tho Thames A dvertiser of the 23rd ult, reports j-^r Very lanie consignments' have been made to this market for the last five or six mouths from Melbourne and Sydney, of all descriptions of goods (dry and liquid), and they have been auctioned at any price to cover drafts at sight or short dates made against these shipments, for- twottln'rds of the invoice value. It is needless to remark that these continued sales have led every one to believe that the* market was glutted. Such is not the case ; it is comparatively bare of most descriptions of goods with very few exceptions. The mystery of how all this has happened has recently oozed out. Mr Lipstein has called a meeting of his creditors, with liabilities supposed to cover LI O,OOO, but not an Auckland man will be a sufferer. This, gentleman, it appears, has had a sort of mesmeric influence over Melbourne and Sydney merchants, who accredited him to tho serious prejudice of the trade of this province, and their own well deserved loss. It is aJvnost impossible to believe that the Melbourne and Sydney people were ignorant of the destination of the goods they were selling, and if they were not so, we tell them plainly that they were perpetrating an injustice to the clients they were supplying in ih.is market. It has come under our notice that, one Melbourne firm positively refused to supply LISOO worth of goods because they considered suoh a sale would interfere with their legitimate trade. The moral of the lesson -will be doubtless the exercise of of a batter judgment, and limiting the execution of orders to honafide transactions, such as they do with their own up-country trade.