SYDNEY.

Lyttelton Times, Volume VI, Issue 416, 29 October 1856, Page 6

SYDNEY.

The ' Empire 'of the 4th inst, in its weekly trade Report, states:—

The week's business has been uuusuaHv dull, and has manifested an almost entire absence of speculation. The forthcoming elections for the Sydney Hamlets, and the North Riding of Cumberland, fcoth o! which will-be contested, are likely to interrupt general business. The change in Ministry has of course removed any apprehension as to^the enact? ment of the proposed tariff which has so loudly condemned at public meetings last week.

.We regret to notice in the list of insolvents, the name of a firm carrying, on a very extensive business o i this city. As their schedule is not y t t filed, the amount of their liabilities is not.known. The cause of their failure is, however, understood to be entirely unconnected with the colonial trade.

The flour and grain market has again suffered a decline, the rates ruling last week not being now obtainable. The millers, contrary to the expecta-. tion of the trade, continue to quote £24 to£?6,-but Uiere have been very few transactions, except for immediate use. Our supplies have for several weeks been in advance of the con*uinption, and heavy stocks 'haveaccumulated. Late California!? advices report abundant harvests, and an inclination on the part of holders to ship to these colonies, expecting a repetition of last year's high prices' The accounts from our own agriculturaf districts stale the weather to have been very favourable, and the condition of the crops extremely promising. These circumstances have together rendered very dubious the chance'of she supply becoming deficient, and have made buyers indifferent to purchase. Holders of small cargoes from Tasmania and Adelaide have consequently found it difficult to realise, or have submitted to lowerrates. Adelaide flour is not saleable above £'23. Tasmaniau may be quoted at £22 10s., and Chili at about the Fame. The market has still a downward tendency, and if no positive news from America dispels the'expectation of imports thence, future quotations must Jieeessarily be lower.