Markets.

Lyttelton Times, Volume VI, Issue 424, 26 November 1856, Page 5

Markets.

SYDNEY,

(From the " Empire.") Friday Evening, October 24th, 1856. The millers have made a farther redaction of £2 in their prices. The following are their reports : —Messrs. T. Barker and Co. —fine flour, £22; seconds, £20 per ton ; wheat 7s. 6d. per bushel; bran, ls.6d. to la. 9d. ditto. Messrs. Berkleman and Bate also quote the same figures. The Chili Flour Company report —fine flour, at £22; seconds flour at £20; bran Is. 6d. per bushel. Messrs. Luker and Rowling quote fine flour at £24; seconds ditto, £20 per ton; good wheat is worth from 7s. to Bs. per bushel. The arrivals of the new clip of wool are but few. They are coming in slowly; the private sales and those at auction have not as yet afforded any particular index as to the actual state of the market. Private advices of the result sales between the 21st July and the commencement of Augest speak more encouragingly of the London sales. There was evidently a firmer tone, and prices were better ; so that "the difference of 3d. in the pound between the July and May sales may be reduced at least one-third. The s]}irit market has been very quiet; brandy is if any thing on the decline, though last week's quotations are still made. In the grain market, maize has run up from 3s. 6d. to ss. per bushel, this rise has taken place in consequence of the demand for the southern trade. In each day's commercial record, particular notice has been taken of the sales effected at Geelong. Considerable speculation has arisen. We hear of some heavy transactions to-day—4ooobushels of maize exchanged hands, at prices^ a shade under ruling quotations. The further fall of £2 in the millers' quotations indicates continued depression in the flour .market. The price, however—£22—is still nominal, as the best flour could not command that figure. On Saturday last —and the market has not become firmer since—the sale of the cargo of the America, from Chili, was reported at a shade under £20; though the exact price was not given, report states it to have been considerably bobw that sum, which would seem the more probably as the carsjo is advertised for sale by auction to morrow. The decline in price has naturally induced some speculative purchases and an enquiry for good flour, but not yot to the extent of checking the downward tendency of the market. A few buyers are taking advantage of the favourable rates by large pnreii:iii\s. but these are made with caution, and the large quantity at present offering at low rates prevents a reaction. We have, to-day, two further arrivals of breadstuff's from Adelaide and San Francisco. The prospects of the Market for the next few weeks are very unpropitious to r-poou-lutors, but rather advantageous to the r-übiie. Hay Market. —There has boon a i;:r supply: prices are a little lower than hist wo-ek*^ quotations. Jin l* now o'oal it i £9 per ton v ■> 1 *-o 5 J t wheat, 7s. to S>- ik ' i*. 1 (.' 6d. to is. duti os >•- b l■> maize 4s. 6d 'o i- ' i ( t to Is. 6d. pci i\v 'vii 1 - 1 11 _ per ton: Pot v - 11 o^ i -v> l ditto, 9?. to 10. ih to M i i J each; calves fun ]•) to •> >- instant. Oi i o "n «. 1 i' extends onh to kIS i l D -> that date s;n - — Our mail <. l i i li n> t cheerless as i t tin n1 i i some time \> d i n\ - coveries ofi'ie "i vi i 1 «i 1 » made durin_, tin. n i i_ » which will be *-u<m h \ > lation to oui ho l > \ have noi yot v n " i \ crisis, tor aid i ' have been i <. v i purchases \\ ltn wo think Hi i i they U:i\v i" iM i tO Uil' 1.'.".:< - > '

upon which, owing to the Tailing oil'in business, they have had heavy discounts to pay. The flour market" is without much alteration, but the tendency is downwards. Commercial advices from Melbourne by the City of Hobarfc, inform us that lanre quantities are expected from South-America, and in consequence their market has given way. Should this information*prove correct, prices for wheat and flour here will recede rapidly. The closing price of the week was £25 to £27 per ton of 2240 lbs,, for best quality Hour. Wheat, SKs 3d to 9s tid per bushel of' 64 lbs. Brans, Is 6d per bushel. Gate. (3s 3d to 6s 9d. Barley. Cape, 5s 6d ; ditto, English, 9s to 9s 3d. Hay,"loose. £7 10s to £3. Potatoes, abundant, 2os~to 35s per ton. and dull of sale. Colonial timber market.: The demand has evidently fallen, off and prices are in comecmence looking downwards. Woolpa;ks in fair demand, at 4s 6d to Is 9d. Corn-sacks, ISs per dozen. Canvass, duil,\vith heavy stocks. Europe rope, £60 per ton. Brandy ; moderate stocks, Marifiil's is worth 13s t>d to 13s 9d. United Vineyard Company's.. 13s 3d to 13s 6d. Rum has been sought after by speculators at 4s 3d to 4s 4d, from 10 per cent, 0.p., and sevei*al paixels, per late arrivals, have been placed at these rates. Bottled beer is now sought after, and prices are slightly higher, 11s 6u to 11s 9d per dozen, may j be quoted for Brass's, other";brands about 6d. lower. Butter: Irish, stock increasing, and dull of sale at Is Id per lb. Belmont candles large stocks. Currants, fair supply. Raisins, scra'ce,

and sought alter. From the ' Home News.' we (•" Sydney Empire *} take the latest London wool report:— Since the commencement of the sales on the 17th of July to date, 53.000 bales have passed the hammer: the total quantity expected to be offered is 75 r QGQ bales. The reduction established at the opening of Id. to IM. per Ib. ; lias not been exceeded, except on very wasty and bnrry wools, on which a decline has been submitted to of 2d. to 2gd.: and even at this declension in price, they are difficult of sale. The competition is brisk, but still there is a very decided tendency on the part of some of the larger buyers to endeavour to buy at easier rates—a result in which they will probably be successful, without importers use discretion iiud relieve tlis market of about 15,000 bales. Operations for continental account have not been to the extent anticipated, prices are not buiiieivntly low to attract them, and, with the exception of scoured wools of fine qualit^y and colour, their bidding,? have not yet been animated. The splendid weather we are now enjoyingwill have its due effect on many, as, with a iTDaI harvest and an easier money market, prices wiFi decidedly advance before February ?iexz. and this feeling is so strong on the part of some large holders, that the slightest decline en present rates would lead many to hold largely, and counteract a decline for which in tr:ide there is no reason. The exports of June, £s compared with the same month of the previous year, showed an increase in woollen goods and yam oi about £-100,000. Those in the trade who have carefully contikred the importl; and sales of the present y-rar. are of opinion that-the quantity to arrive I.; exceedingly small—an opinion fully confirmed Ly the accounts from all parts, especially Port FhiHir), whore the c!ip was nearly ail shipped :n:i the hea.-on closed, except "a few bales of ::: j-ired and skin. Should this prove to be so, v,(- -Ij.ill be Ji:rhi in stock for November sales, i-ii'l i.,ui IHllfe1 ibr February. Fov priviu; coTTiLi:if4 and fine Sydney wools, liiucli ca:nrj-;'t.ition ex:-;ts ; the lieavier descrip- ,■ ._. .... , .«.,.,. „i- . i . - t. - .'• . i-' - ' ... _i_ . . vith'izvr.vii, prices not equalling expectations.

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