AUSTRALIA.

Lyttelton Times, Volume VII, Issue 436, 7 January 1857, Page 5

AUSTRALIA.

The Australian flour markets are represented as dull and depressed, throughout. Of Sydney, the ' Empire' of the 10th Dec, says : — The flour market continues extremely depressed, and the late arrival of Chilian wheat, ■with, the news of another cargo following, will temporarily check any improvement. Some sales of New Zealand wheat are reported at 8s , but no movements in flour are spoken of except for immediate wants. The millers' quotations are—fine flour £20: seconds, £18 per ton. MELBOURNE. The Argus of the Bth reports on the flour and grain markets — The flour market is very dull. The harvest is commenced and is know to he abundant in South Australia. This has caused general inactivity in this market, and buyers of small quantities for actual want are the only operators. The closing quoted prices of Adelaide,best brands, are £20 to £20 10s., at which rates there arts more sellers than buyers, although small parcels have, during the week, been quitted at £lil 10s. In other sorts of flour very little doing, a shipment has been made hence to Sydney, but as their, quotations are even lower than ours, we fear little relief is to be looked for from that quarter. The prices of grain generally are easier, wheat - is nominally quoted at Bs. to 8s 6d., but we know of sales of Adelaide at Bs., and Chilian at 7s. Adelaide barley, a fair average sample, has been sold at 6s. Oats are not in so good demand, and until the result of the rate at which the Government contract has been taken transpires, prices will continue to fluctuate. We quote Colonial 6d., and Scotch 3d. per bushel lower. Maize and bran are also rather easier, the former 65., and the latter Is. Sd. to Is. lOd. per bushel. SOUTH ACSTKALIA. The Adelaide Times bus the following remarks on the fluctuations that had characterised the wheat and flour markets during the past VCftl*. Let "us explain with regard to the articles of wheat and flour. Early in the season wa

estimated our available export of wheat and flour at 26,500 tons. That at £25 per ton would have yielded £650,000. But we shut ourselves out of the exclusive possession of the Melbourne market, and brought over the Caliibrnians and Chilians to compete with us, by standing out for a' higher price than this. We might have cleared out the whole, or nearly the whole, say 26,000 tons, between January and July last, at £25 per ton; but we must have more for it this year, because we got more for it last —a year of comparative drought ; and, as one of the consequences of this absurd step, the average of the season has not, we suppose, exceeded £20 per ton; and we have between 6000 and 7000 out of this 26,000 tons still on hand. Thus the difference between what we might confidently have looked for in January last, and what we have actually got is £150,000, that is to say, £500,000 in place of 650,000; and it is not conceivable that such an error could have been made in our trading- estimate of the returns of our last year's harvest—if there had been nothing else to promote it—without its tending to hamper persons in their means, and bring about a general scarcity of cash. The banks are in no way blarnable for this. It is clearly chargeable upon ourselves, and we must take care not to repeat the folly with regard to the present year's crop.