Markets.

Lyttelton Times, Volume VI, Issue 430, 17 December 1856, Page 5

Markets.

AUSTRALIAN MAEKETS. [From tlie 'limpire ' Nov. 22,] The money market continues easy, investments at 6 per cent, being readily taken ; mortgages are obtainable at 7 per cent. The share market is quiet but firm, holders of first class securities are timvilling to sell under present extreme rates. New South Wales debentures have been taken at par without accrued interest, and Provincial Government of Auckland debentures bearing 10 per cent, interest (redeemable by the New Zealand Government in ten years) have changed hands at 9 per cent, premium. Transactions in general securities have not been numerous. The unwillingness to invest at the present extreme prices, may in a great measure be accounted for by the prospect of our Government again coming into the money markets to raise further loans by issue of Debentures: many capitalists expecting to obtain them in aeh below the present quotations. The £20,000 New Zealand Government Debentures bearing; 10 per cent, interest, payable Ist July 1559, for which tenders were invited by the Union Bank of Aussralia have all been taken up at prices averaging a fraction over -i per cent premium. The wool market continues brisk, and the finer descriptions are in eager demand. Some of the prices lately given were hardly justified by the last London sales, and seem rather stiraulalated by the lateness of the season and the necessity of remitting to England. The competition will be probably moderated when the wool comes down move freely. In other kinds of produce there is no alteration. The Hour market at the beginning of the week was steady and gradually became firmer. The wheat by the What Cheer, and one ov two other cargoes having changed hands, the arrivals of wheat having apparently ceased, and slocks being cors'derablv reduced, some holders were linn for a i advance, and the tendency of iiie market v/as towards improvement. The Ha:c::ll flour ex il:>-/z;vi i:on'New York, was quitted at 515., eqral to i"25 10s. per ton: although this brand is always placed tfbovo Chilian or Colonial, the price indicated :i parti::! revival. Any hovi of further i'^vvovtxv.o^i. tl-r the pvesoni: ;:! least, has been di,:>;??:uvci by the news from ?Iv!boim)e and Au-Lndo to *hv.vA yesterday. It was lately notie-.vl that ia sotv.e districts in the latter colony the wheat erors wore c-xpeeied to yield throe times tlio onantitv of laslyoar; and our latost r.wonuis rro thai so abu-'ib.uu was the lu-rvost likely to bo th::t Avheai was ou'evhig to arrive a; ■!..>. iU. to -Xs. Su. P?r I)uslmm. Tin1 lu-ws tondv-d to depress {]:■) iA'Av<n\v:w \vsx\\vA, and so t!::-.t :;c M^ovat'ons (.'f.uld bo triven iov any ?o;t ci' i'c.v.v. Our ciwu market is likely to bo in:::r;ou,lv i-lVcctod thereby, ns ilso above ]ivi iV uv;:U loavo :• gocul margin for iivi^ht ;ro.a pvotlt s':ouL:l t':o. Ado^ laiuo si^ip'H-rs bo iucliiiod to ivy r.:ir innrket. Prob:il:lv owi-g io tho :>bovi« it:tc-!li;;v:u v,' ih-o mii'ers hnvo loworod their prie.s iVc-ra i'l1- io £•20 line tkuir. and innn :t^i) U) ■.■::. S :bv sav-;k;s ; New Zcubmd whe-'.t i^ ouui.-vl r.t 7s. The de-clii-e h::s, bowov^r, b v -t':i :•.'.:.ril:-^ ;1 io xho puvobrse o: the ih'xall i\:v.v by ;;.v i i-ki-rs. U>e iniUovs i-ir,- uotor:nh;o:l u> tbclr V i»A~ lion :rs Lol-i-v.A -- :; ii'.st ibo s:-:H c-iUrsVho

transactions which were ponding when ihe news arrived, hare since been given up in consequence. ' The Melbourne Ape of the 10(h reports:— The heavy rains which have prevailed to-day have rather impeded business. Adelaide Hour has not been done under C 22. Oats are very stiff at Ts. for Scotch of lirst quality. Maize has been sold at- 6s Od.: cracked maize is worth 7s. per bushel. Rice, £20 10s. to £21 per ton. The Melbourne Arqits, of the 20th reports: The business transacted in the corn trade during the week has been light. The races and cessation of business on Thursday, in compliance with the request- intimated in the Government Gazette, seem to have constituted a holiday week by general consent. The flour market is very unsteady : no transactions of any importance have taken place, and prices must be considered as merely nominal. The demand for seed com is less this week, although prices are unchanged: indeed, fraaize advanced a tritle since our last report, good samples having; brought 6s. /id.per bushel. The advices from Tasmania are to the 20th instant- i The retail or nominal price of flour has been I reduced to £20 at all the mills, and we under- ! stand they are only working half time, as be- ; yond the quantity requsite for local consumption, theri; is positively no demand at any price. Wheat has lardy been brought more freely to market than when the price was 2s. or 3s. per bushel higher than at present, vs. to Vs. Od. beinsr now the figures. Oats continue in brisk demand, and are now worth Ss. Od. to 95.; a check ■will probably be given to the further advance by shipments from California to Sydney and Melbourne; one carsjo had been disposed of for 95. 3d. per bushel. From Adelaide the harvest prospects are finer than, they have been for several years past. The following- is an extract from a letter dated "Valparaiso, 23rd August:— Prices of flour still continue to rule at from 10 dollars to 10 dollars -50 cents per cwt., at Talcahaano; and 11 dollars 25 cents to 11 dollars 30 cents here., and not by any means abundant.