Commercial lntelligence.

Hawke's Bay Times, Volume 14, Issue 722, 30 September 1869, Page 2

Commercial lntelligence.

WELLINGTON. The Wellington Independent, 25th September, reports as follows: In spite of the flne weather which has been so enjoyable duringthc past week, business continues to exhibit a chronic"dulness, and everyone is complaining. The few auction sales that Lave taken place have been insufficiently attended and the biddings so ridiculously low that the lots have necessarily been withdrawn—not from any oversupply of the article ofTered, but from a settled determination on the part of the trade to restrict their purchases with the smallest possible compass. Nor is it easy to conceive any probable chance that affairs, for some time to come at least, will mend, and wo much fear that a very gloomy future is before us. Quotations are, in consequence, nominal, with some few exceptions, and difficult to quote. Flour has suddenly advanced from £2 to £3 per ton within the last few days, and will probably continue to increase in value as stocks are low and in few hands. There have been sales of Canterbury flour at £l6 and of Adelaide at £l9, and holders are already talking of £2O to £22 per ton.

The stock of oats had become exhausted and rose in value to 6/6 per bushel for a short time, but opportune arrivals have temporarily supplied our

wants, and we hear of sales at 4/8 to 4/10, but the sanr pies were not over good, and a clean heavy grain would be worth 5/ to 6/3, but the demand for tliis grain has become limited owing to the cheap rate at which oats have Deen selling. Pat and store cattle continue to be exported in large numbers, and several large mobs have gone to Wanganui and Napier for shipment. Prices haveconsequentlyadvancedforhome consumption, and we should not be surprised to see beef and mutton at extreme rates in a short time. _ Mr G. Thomas, auctioneer, acting under instructions from Messrs Turnball, Beeves & Co., sold yesterdav afternoon, the cargo of oats ex Courier, just arrived from Kaiapoi. The attendance was numerous, and the prices realised for the several parcels sold, may be considered fair. A.though the bulk of the cargo was withdrawn under a reserve of 4/5 per bushel, 4!6 was obtained for small lots, and it is likely that the bulk will be quitted privately in the course of to-day at or about 4/o per bu«hel. The tendency of the market for horsefeed is evidently upward there being little of last season's stock now left in the Canterbury market.