Markets.

Lyttelton Times, Volume VIII, Issue 494, 29 July 1857, Page 4

Markets.

We have very great pleasure in directing the attention of our commercial readers to the following letter, which contains information of a reduction in the rates of insurance to this port irom Sydney. It is not only a relief from a serious burden, but also the clearing a stain from the character of our harbour.

To the Editor of the Lyttelton Times. Sir,—Referring to a subject touched upon in your paper of the Ist instant, viz., " Marine 'Insurance," in itself of the greatest importance to the Commercial men of this province, we have the pleasure to intimate that, m consequence of information given by Mr. 1. 1. Cookson, during his visit to Sydney, respecting the really safe character of our harbour, the directors" of the Sydney Marine Insurance Office have at once placed risks to this port on the same footing and premium as Nelson, viz., 2\ per cent, instead of 3 per cent. Although this reduction is not so much as we should have liked, yet, as the first step in the right direction, ■we consider it a point gained, and we have little doubt that a stUl further reduction may be allowed when the Admiralty Charts &c., &c. of this harbour, which we are about sending to Sydney, have been duly inspected. We remain, Sir, Your Obedient Servants, COOKSON, BOWLER & CO. Lyttelton, July 27th, 1857.