VICTORIA.

Lyttelton Times, Volume VIII, Issue 536, 23 December 1857, Page 4

VICTORIA.

By the Corsair we have Melbourne papers to the sth instant. We take the following review of the markets from the Journal of Commerce of the latest date.

The transactions of the past week call for but little especial notice; business in some branches has slightly improved, and the demand from the country holds good, but it still remains as difficult a matter as ever for importers to effect sales, stocks remaining large, and out of proportion to the consumption. One of the most favourable features whick we have to notice is the sudden scarcity of oats in first hands; the low price to which they had fallen has caused a greatly increased consumption, and brought very large orders from up-country, which have quite cleared out all small holders, and the price of Scotch has risen from 3s. lOd. to 4s. 4f d. If the lai'ge receivers are now firm, the price, should the country orders continue, may be easily raised to 55., a rate at which they are still a cheaper feed than any other kind of provender. Theflourmarkethas not been very brisk, but quite enough business has been doing to give flour at length a definite value; and we hear no longer of so much difference existing between the demands of various holders, the price having settled down to £16 10s. for country, and £17 for town brands.

From Calcutta we have had large arrivals, which have again tended to depress the rice market, but other kinds of Calcutta produce are so low, that even arrivals have ceased to have any effect on it. In the sugar market the same listlessness and apathy which characterise almost every other market prevail; at auction, cargoes or remnants of cargoes have been repeatedly tried during the week with but little success, not much being sold.

The money market is again tighter, and the banks have taken a step which we long since foresaw, and have raised their rates of discount to 8 per cent, for bills having 90 days to run, and to 9 per cent, for paper of a longer currency, whilst for overdrawn accounts the rate is raised from 10 to 12| per cent. The exchange on England nominally remains at 1 per cent, premium, but bills can be easily obtained for less, and there can be no doubt but that by next mail the drawing rate will be par., if not 1 per cent, discount.

Failures still continue to take place, and this week there have been three additional suspensions, involving a liability of £90,000; and tending to increase still more the general want of confidence and distrust previously ruling, and which for the moment serve greatly to curtail even that small amount of business which might otherwise be done. Some of the daily papers have lately adopted a practice of giving particulars of the failures which take place; but they seem to have done so in many cases on very inadequate information, reporting proceedings of meetings which never took place, and offers of dividends which never were made. These partial and incorrect reports can scarcely interest the public, whilst to the creditors of the various estates they are calculated to do very serious injury, and in some measure are likely to affect the prospects of the ultimate realisation; we hope that for the future these announcements will not be made, or, if made, at least be given correctly. Ale and Porter.—Bass's ale continues in demand at £9 155., and for bottling. all kinds of bulk ale are in request, but the prices offered are but £4 to £5 the hogshead. For bottled beers the demand is very active, and prices for all brands are 6d. a dozen dearer.

Butter.—There is a fair demand, and not much difficulty in selling it to land at 9Jd., but parcels in store, even though good, are not easily moved.

Candles.—The demand is not very large, but as no very large quantities have been offering at auction., prices are firmer, and privately 13|d. to 14d. can be obtained.

Cheese. —There' is no improvement, and it remains as difficult of sale as ever.

Dry Goods.—Although warehousemen generally complain of being very dull,, there has been a decidedly.better trade doing, and summer slops, organdies, and muslins have been selling readily at very fair prices. In boots and shoes there is no improvement, and they even seem to be getting worse. Earthenware and glassware are very unsaleable, and if forced, lose heavily, scarcely realising invoice.

Eastern Produce.—Almost all Idndg of Eastern Produce, Teas excepted, are lower, large auction sales having again depressed prices. M.iuntius Sugars at auction have realised ahout £50 for fine and £48 for medium counters winch. ie a further reduction of £2 per ton-

Cossipora has been sold at £64. The rice e f Dunsandle was sold yesterday at auction at|?f ss. Gram at £9 12s. 6d., Calcutta oats at 4? Flock and Gkain.—The market for Lv articles is decidedly better, and although no thinks of speculating, and consequently no en i of moment are effected, stccks^are work?™ l very fan-ly by a continuous legitimate demLJ For country brands of Adelaidi £16 10s Sn X got, town brands are worth £17. Bran i* ther higher and worth Is. 9d. with a good de" mand. Wheat is worth 6s. 9d. to 75., fe whics price rather more !s selling this week than last Oats have improved, and the demand which ha* been caused by low prices is really wonderful and seems to have cleared out all timid holders as for tue last few days the whole of the ti2 have been anxious buyers at 4s. 3d. to 4s 41,1 without..being'able to supply themselves with the full quantity wanted. As arrivals now coming in are mostly in large lots to strong houses, we believe that present prices will b« maintained, and should importers act with any thing like unanimitythe price will probably ad. vance to ss. ■ ■ ■ * J v

Hams and Bacon.—Hams are in fair demand at 13d to 14d., but bacon is not much asked tor, and not worth over lid Metals and Timbee.—Bar and rod iron remain extremely depressed. For galvanised iron there is a brisk demand, but as a good deal has been in the market, prices are rather lower bheet lead is a little firmer at £31 10s. to £32 Tin plates are dull of sale. The timber market is very firm, and late prices are fully maintamed, notwithstanding arrivals. Slates are not worth over £10 for countesses. Oilmen's Stokes.—Except for bottled fruits 1 Ib jams and pint pickles, the demand is scarcely as continuous as it has been. Herrings and soda crystals sell readily. Figs are saleable, and Pudding Raisins are scarce, and worth fully 9d.

Wines and Spibits.—-There is nofe much doing in. first-class brandies, and prices remain; nominally unchanged. For mixing brandies, more has been done than for some time past, and good samples of British are worth 7s. Rum and gin are quiet with but little doing! In wines we hear of few transactions ; Claret is. rather more saleable, and there is some demand for Hock and Sauterne.