Markets.

Lyttelton Times, Volume VIII, Issue 521, 31 October 1857, Page 4

Markets.

VICTORIA.

We have commercial intelligence from Melbourne to the 10th instant. There was little doing on account of the delay of the English mail. The 'Age' of the second instant says:—

In the import trade there has been some little improvement during the week, but not sufficient to constitute a revival of activity. A better tone has however arisen, and the sumnjjer is looked forward to more hopefully. The warehousemen and wholesale dealers have been doing far more business; orders from the country have come in to a much larger amount; hence loading has been plentiful, and drays and carts have found more occupation. The recent rains followed by fine weather, several new diggings just discovered, and the satisfactory position taken by Mount Ararat, have all contributed to give an impetus to the up-country business; and to these causes may also be added the prospect of increased employment for labour; the draining from the city of large bodies of the unemployed, from the general satisfaction which has been felt by the community at the defeat of the Land Bill; hence the anticipation of a much; more prosperous state of things than that of which we have for some weeks had to complain is generally entertained; and even those merchants who are not yet doing much, are cheerfully waiting the time when their turn will come, and they will have as much to do as they can well manage. There are but few alterations in prices to call attention to; the actual business of the week having been, in a great measure, confined to the articles of flour and sugar.

The following is the latest report from the ' Age'of the 9th:—

There has been a steadily increasing business doing during the week, especially among those houses whose connexions lie extensively up the country. Orders for loading to recruit the stocks on the various diggings have been more numerous; but they are so generally distributed, that no particular firms seem to be excessively busy, while most are more active, and therefore better satisfied. The large stocks which have for some time been accumulated in second hands, the results of the speculations which prevailed in the earlier months of the year are thus working off. - Importers have not as yet been much benefitted by this improved demand; but their turns must shortly come. Except for Eastern produce, sugars especially, the import markets have been quiet. The recent advices from sugar producing countries, the uncertainty of the state of affairs in the East, together with the very limited stocks of sugar in the market, have given occasion to extensive operations in this article, and unsually high rates have been established. These prices will be probably continue for some time; whether there will be any further rise, must depend very much upon the .quantities coming forward from the Mauritius, and elsewhere. Pending the arrival of the English Mail, but few transactions of importance are transpiring in European imports. Some doubt is entertained whether the European should arrive at her appointed time, as it has been hinted that she may be taken up for the conveyance of troops to India. This rumor will, however, probably be confirmed or refuted by Monday, the day on which she is due in this port.

Plour and Grain.—The business during the week has been very good, the demand for the up-country stores having increased. Prices, however, have not advanced. The mill prices are, for fine flour, £23 to .£24 ; seconds, £20, and for bran, 2s. 6d. For good samples of wheat there is a ready sale. Millers are giving from 9s. 3d. to 9s. 6d. for fair grinding parcels. Bran is firm at 2s. 6d. Oats have been largely operated in, and prices are somewhat easier. Malt and hops firm, with a better enquiry.

WELLINGTON.

The arrival cf the Brig Drover, from Melbourne, without the English mails, las dissapointed many, and has afforded food for speculation aa to the cause of, detention. The genera,,,

opinion that prevails is, that the mail packef. have been taken up to convey troops to India If this is not the case, some accident must hay« occured to the mail steamer to cause detention as she was seven days overdue when the Drovpr left Melbourne. The Active was on the berth for Wellington, and should the mails arrive would be despatched immediately to this Port The elections have been absorbing public at tention this week, and little else is talked about in town. There have been only two auction sales this week, viz.: Messrs. Bethune & Hunter on Thursday and Friday, the 22nd and 23rd hist who sold a varied assortment of drapery at fair prices.—'lndependent,'October 24. '