Commercial Intelligence.

Hawke's Bay Times, Volume 17, Issue 914, 11 January 1871, Page 2

Commercial Intelligence.

WELLINGTON. The Wellington Independent, 3rd January, thus reports : A general tone of dulness has prevailed du> ring the past month, more bo than we can re» collect for many years hack. In the retail drapery trade especially, the system of forced sales by enormous puffs of " selling off at a tremendous sacrifice " and by auction appears to have been carried to its extreme limit, and the wholesale houses are overstocked with every description of drapery goods, which they find it impossible to move off, except at prices they are unwilling to submit to. The coal trade has been equally overdone during the month, and there must be over a thousand tons in excess of the quantity usually kept in stock for the ordinary requirements of our steam traffic. The price has gone down to 21s per ton, which must leave a considerable loss to the importers. In other departments the same remarks, with some trifling exceptions, apply, and we close the year with heavy stocks, few sales, and a total absence of speculation. It is, however, satisfactory to note that we have had few failures, and that current bills as a rule are regularly met, in spite of the prevailing tightness of money, so that we may reasonably hohe that with prudence and economy we may tide over the present bad times, and that with the commencement of the new year an upward movement may be given that will enable us to write more cheering reports at its termination.