Markets.

Lyttelton Times, Volume VIII, Issue 519, 24 October 1857, Page 4

Markets.

Land stock and stations are rapidly rising in value. Of the latter, the few that come from time to time into the market meet ready purchasers, and are disposed of at a very considerable advance upon the current value of the stock upon them. We note the sale during the week of Mr. M. J.Burke's run in the Timaru district, comprising 50,000 acres and carrying 2,000 sheep, with improvements, for the sum of £5,500. Another run, unimproved, of 20,000 acres on the Rakaia, was recently disposed of for £-1,200.

Mr. Thomson sold by auction, at Christchurch, on Wednesday last, two quarter acre sections of town land, at the corner of Tuam street and the south Christchureh road, near the Royal Hotel. One section having a frontage on Tuam street fetched £88; the other, a corner section, with two frontages, and with a building upon It, was sold for £382, Mr. 3. N. Crombie being the purchaser.

Mr. Parkinson sold, yesterday, in Lyttelton, three quarter-acre sections of unimproved town land in various parts of Dampier's Bay, at the prices, respectively, of .£lB5, £65, and ,£SO.

From the papers brought by the Dart, we extract the latest Sydney commercial intelligence. There is not much alteration to notice in trade. The week has opened quietly and but little demand for goods has shown itself during the day. The Moses Wheeler, and the Washington Irving have brought us new supplies to our markets: but several parcels of spirits and beer on board the former vessel have been sold some time since for arrival at remunerative prices. Brandies are still very dull of sale, we are, therefore, glad to find the stocks will not be much increased by the arrivals above named.

Rum is in good demand and higher rates are being asked. Geneva, no alteration.

To-day we notice only the arrival of the Grey Feather from Manilla, with sugar to the Sugar Company. We hear conflicting statements as to the prices of sugar in the Mauritius, to hand by the Bella Vista, arrived at Melbourne; but we are informed that sugars were rising rapidly when the Bella Vista left.

Our correspondence from Melbourne is still of a desponding nature. Trade continues very dull. Spirits were declining, especially brandy; Martell's was going at 17s. 6d. to 18s. per gallon; Geneva, 225.; old torn, ss. per gallon; Bass's ale, No. 3, was being a little more enquired for, as also Byass' beer, at 11s. 6d. for half-and-half ale and porter.

The Wonga Wonga has again drained the Melbourne market of a large parcel of sugars, which are reported as getting scarce and rising in price.

From Hobart Town we have also to notice a shipment of sugar to hand per Tasmania, and a scarcity and difficulty in obtaining parcels is reported. Produce of all descriptions was rising, owing to the demand for other colonial markets' and the bad weather prevailing.— Empire, Sept.

Accounts reach us of the destruction of live stock, especially sheep, irf; consequence of the late unpropitious weather, to a very serious extent*, but it is extremely difficult to obtamreliaWe information aa to the losses sustained by particular partfes.* . . Business during the weefe ha 3 been quiet, but there has been a good up-country trade. Dealers, however, still' purchase very sparingly. We do not notice any particular activity in any articles except Eastern produce, in which prices have an upward tendency. There are yet a good many vesseis overdue from London and other ports. Exchange remains unalteredj.it is anticipated that a large amount of. specie and gold dust will be forwarded by the Simla. ■

Flour.—The market is flat owing to large stocks. We notice a shipment to the eastward and trom. Melbourne and Adelaide we hear that

large quantities are going to Calcu tta and other port 9. We cannot expect any advance unless caused by the actual scarcity in the neighbouring colonial markets.

Teas are looking upwards, and holders appear confident of a further rise taking place on receipt of later Eastern intelligence. Purchases continue to be made only for Eastern consumption. Prices are variously quoted at about £9 to £9 10s. for congous; and £5 to £6 for hyonskms of best quality. Sugars are advancing owing to the tenour of the news to hand from Manilla, per Grey Feather. The effect of the high rates ruling ruling must eventually check consumptiou for a short period.

Kice remains steady, with a small demand.— Ibid, Oct. 2.

Business has been quite at a stand-still, owing to the causes mentioned yesterday, and the inclemency of the weather. The arrival of the European is anxiously looked for as her news will be important in nearly all our business relations, and also for the result of the July sales. Should shipments from home be short, and the news fronv the East unfavourable, we may look for an active trade during the ensuing week.— Ibid, Oct. 7.

VICTORIA,

The Sydney papers quote the following review of the Melbourne import markets from the ' Argus,' of Sept. 16:— Flour, Grain, &c—The flour market has been very inanimate, and transactions confined chiefly to purchases of moderate extent, for present use. Some degree of speculation was exhibited yesterday in Adelaide flour, in consequence of reports of several vessels loading at that port with flour for India, for the* use of the British troops, and some rather considerable parcels changed hands, at from £ 23 10s. to £24. To-day, however, the market is quiet, the chief business being with second hands, for the interior. The late advices from San Francisco intimate no prospect for probable shipments from that quarter; yet, as our supplies are quite equal to requirements until harvest, there is not much field for speculation in this article, although, as the supplies are light on the diggings and in the country town, and present holders very firm, an advance rather than decline in prices may be reckoned on. Best brands (Adelaide) are selling at £23 10s. to £24; Van Diemen's Land, £20 to £21; first quality Chilian and California, £21 to £22 per ton; Haxall and Gallego s £2 10s. to £2 15s. per barrel. Small sales of the latter have been made at £2 12s. 6d.

"Wheat continues in steady demand, but although there are inquiries for the country mills at Castlemaine and other towns, not much animation exists, prices varying from 9s. to 9s. 3d. per bushel. The late reduction in the price of bran has effected the value of barley for horsefood, and rendered the latter dull of sale at 9s. to 9s. 3d. per bushel. Oats are in better demand and looking firmer, although there is little improvement in value. Colonial are not -worth more than from 10s. to 11s.; Scotch and Irish, 7s. 9d. to Bs. 4d. The cargo per Formosa, from San Francisco, has changed hands privately at 9s. per bushel. The cargo per Ocean, from Bremen, was sold yesterday by auction at 6s. 6d. to 6s. 9d. without charge for bags; and a shipment of Hayes'lrish at same sale-produced Bs. to Bs. 3d. for white, and Bs. Id. to Bs. 4d. for black.

Groceries, &c.—Sugars have continued in steady advance, and are firmly held for higher prices. Purchases have been made for the Sydney market to very considerable extent; and, as advices from all parts announce increasing values in this article, further improved rates must be expected; refined sugars are in more inquiry, and scales of English to arrive have been made at 9d. per lb.

Teas are very firmly held, holders showing but little inclination to sell at even present rates; and, in absence of further supplies, the article has an upward tendency. Coffee continues of steady sale, without change in value, of which there seems little probability, at any rate for the present. Rice is still dull of sale. Stocks of this article are large, and without the aid of speculation present prices are likely to continue to rule.