SYDNEY.

Lyttelton Times, Volume VII, Issue 438, 14 January 1857, Page 6

SYDNEY.

(From the Empire, Dec. 20J Although the dulness of trade is still generally complained of, there has been during the week a greater amount of activity in the principal import markets, caused probably by the requirements for the Christmas season, and also for the return teams which are now daily arriving. Confident hopes are entertained that trade will experience a revival early in the yeai^ as our commercial relations with Great Britain will be placed on a satisfactory basis by the commencement of the new postal service, and as the now excessive imports of British merchandise will show a diminution, the exports from Great Britain to Sydney, in September last, being £184,229, against £288,036 in August —decrease of £103,107. The stagnation from which the market has been lately suffering is mainly attributed to the injudicious extent to which British merchandise has been exported. The demand for the country supplies is also likely to relieve stocks, the increasing value of the produce giving the settlers the means of purchasing largely. At the same time the cost of transit has considerably declined, and is now at reasonable rates. The extreme prices now ruling for wool and tallow, as shown at Messrs. Mort and Co.'s sale yesterday, are probably caused by the recent favourable English news, as well as the demand amongst importers for a safe remittance. Until this demand has subsided, the Banks probably will not lower their rates of exchange. The spirit market has been rather quiet, and there is but little to mention. The few speculations that have taken place have been principally confined to rums, for which a fail" figure has been obtained. There is no improvement to report in the flour market, and prices are evidently on the decline. Although the millers make no alteration in their quotations—£lß to £20—best Chilian is selling at £18, and Adelaide at £18 10s. to £19. Sales, however, are confined to small parcels, as dealers are confidently expecting a considerable fall; the expectation is founded on the early arrival of the new grain, the superabundant crops of the other colonies, the further decline in the Melbourne market, —and also on the necessity it is thought there will be for realising poi'tions of the stocks now on hand. The necessities of some buyers who five months since speculated on the chance of a dearth and high prices, will probably bring large parcels into the market, in which case prices must be further depressed. The arrival to-day of the Mercedes, adds to'the' stocks of Chilian flour, now amounting to several thousand tons ; the larger proportion of which is held for something above current rates. The present aspect of the market, however, gives vei'y little encouragement to expect an advance for many months. Some small parcels of the new wheat from the Southern Road have already come to hand, and within a month the quantity arriving will sensibly affect the market. Wheat is quoted at 6s. 6d. to 7s. 6d., the latter price being given for best samples.