Markets.

Lyttelton Times, Volume IX, Issue 558, 10 March 1858, Page 4

Markets.

By the vay of the Cape we have news from England apparently to the 2Gt!i Nov., brought to the Cape via Singapore. The papers received, however, are not those in which the fullest information is given; and the subjoined quotations are consequently of secondary importance. The 'Cape Argus' of Jan. 16 publishes the following extract from a letter of the latest date received by a mercantile house at the Cape:— Discount was yesterday 10, and is to-day. 10J per cent, in the Bank of England, produce has only a nominal value. In one instance, onethird of all Cape wools available for this sale has been withdrawn, say 6,000 bales, leaving 12,000, or else it would have been sacrificed, whilst this withdrawal will have at all events some influence; the fall is from 4d, to 6d., and the commercial horizon in Great Britain and Europe is just now very gloomy. We hope that the worst is over. (From the ' Overland Mail' of the 26th Nov.) " The suspension was announced on the 20th instant of the highly respectable firm of Messrs. J. R. Thomson & Co. of this city. Their transactions are chiefly with the Cape and Mauritius. The liabilities will probably prove considerable. The embarrassments of the firm arise principally from the delay in the arrival of remittances, and from the extent to which their funds are locked up in produce. It is fully expected that a considerable surplus will remain after the liq\iidation of every claim, and it is hoped that the house will shortly be enabled to resume business. Their suspension will not affect their houses at the Cape and Algoa Bay. " Since the above was written, we have learnt i that arrangements have been completed for enabling Messrs. J. R Thomson & Co. to resume payment at once,—we believe to-morrow." In addition to the list " of firms in difficulties," publishedin our second supplement of Thursday last, we observe the following additional names in the/Overland Mail' of the 26th November:— Berend & Rozen aud Blass Schonnberg & Co., of Hamburg, the former foreign bankers and commission agents, the latter African traders; Leopold Sampson, of Manchester, in the African trade, with liabilities stated at £60,000 or .£70.000.- At Liverpool, Messrs. Babcock & Co. and Messrs. Dutilh & Co. At Dundee, Messrs. Mackenzie, -Ramsay, & Co. At Glasgow, Messrs, J. Monteith. & Co. The firm which "had stopped in which the name of Twentyman occurs, are not connected in any way -with the firm of Twentyman & Co. of the Cape. They are silk merchants- J News from America had been received to the 12th of November, and monetary matters were represented as much easier. SYDNEY. We have commercial advices from Sydney to the 6th ulfc. The 'Empire' of the previous day says:—

We have again received fresh supplies of goods to our stocks. The Star of Peace has a large cargo of assorted merchandise from London ; and the Northern Light brings a further lot of 9,000 barrels of flour to our already much depressed flour market. The Anna Maria has also a small parcel of Adelaide flour, and prices for. all descriptions are decidedly lower. We understand Haxall has been offered as low as 355. per barrel; but the cargo of the Northern Light will be stored for higher, rates. In Eastern produce there is nothing of importance to note. The two vessels from China have brought little cargo-for this port, and have chiefly called in to land their passengers. The news from Melbourne by the Telegraph is more cheering, but we do not hear of any orders for goods for that market, nor can we, in the face of the large stocks, anticipate shipments being made for some time. We notice the clearing of the Abbey, for Geelong, with a cargo chiefly of sugars shipped by the Company. The 'Morning Herald' quotes as follows:— Liquids.—Brandy remains pretty quiet at 16s. to 16s. 6d.; rum is a little flatter, and 30 o.p. is offered at ss. 3d.; Geneva continues dull of sale at 16s. In wines there have been no transactions of any importance, and prices are nominal. Groceries.—We have to report a decided improvement in trade this week, caused by the demand for the interior. Buyers, however, are still cautious in their movements, and transactions, although numerous, have not been to any extent, except for sugars, heavy sales of which are reported to some of the wholesales houses in town.

Teas.—Holders still find a difficulty in effecting sales, and with the exception of about 200 chests of congou, sold by auction at a considerable reduction upon previous rates, we hear of no other transactions; the arrivals of the Queen of the Seas and Alfred the Great, from China, without teas, also, the Melaine,. at Melbourne, must have a tendency to establish confidence which has hitherto been wanting. Congous may be quoted at £6 10s. to £7 10s.; hyson skin is in brisk demand at £4 4s. to £5 12s. 6d. Wheat and Flock.—Very few samples of the former have been exhibited for sale since our last, ami prices continue nominally the same as before, say 6s. to 6s. 6d. per busheL Prices of flour have again receded a little, influenced, probably, to some extent by the arrival of a cargo of 9,000 barrels from the United States, and about 1.000 bags from Adelaide. There is, however, a fair demand for fresh samples, principally I for the town trade, at the quotations. I In the Wool Market there is a better feeling | manifested for purchasing, and some considerable transactions have taken place, but there is scarcely any improvement in prices to note. Tlie following quotations of prices obtained for New Zealand wools at Morfc & Co.'s produce sale on February 4th are given in the same paper;— Fleece, HD. 1 at I6d; grease, WD, 1 at 10-Jd; fleece, TW, 1 at 15£ d; ditto, PP, 1 at 15»<1; WHF conjoined, 3 at 10d; scoured, GNZ in triangle, 3at 2ofd ; HDS, sat 14Jd; grease, PI, 1 at 82d; fleece, OS, 2 at 17d; fleece, SF, 1 at 15' d; dittj, T3, 1 at 15Jd; ditto, JS, 3 at 15£(1; ditto, RB, 3at 17d; ditto, JH, 2at 15} d; fleece, JH, 3 at 13-»d; grease, RP, I at 9}d; ditto, ditto, 1 at 10^1; fleece, JS, 1 at 14<jd; ditto, FE, oat 15Jd; hand washed, JP,} at 16-kl; fleece, RG, 4 at IGJd; ditto, TV, 6 at 14-J-d; ditto, RG, 2 at 16^1; ditto, EH, 2 at 153 d; ditto, JB, 2 at 1 IJd.

.We have no advices from Melbourne later than already published. ADELAIDE. The 'Empire' of the sth of February gives the following among the latest commercial advices from South Australia":— Green's Exchange, Thursday Afternoon, January 21. The adverse intelligence to hand by the arrival of the October and November mails, the suspension of some large Melbourne firms, together with enhanced prices of British and Foreign goods, and decline of wools, has, to some extent, weighed heavily on our markets, and again has to be. recorded another of our now usual quiet weeks. I may, however, except wheat, groceries, drapery, and other trades goods. Since my last report one of our local mercantile houses has stopped payment. The liabilities, however, do not exceed £21,000, against which is offered about 5s in the pound. At a meeting of creditors, a committee was appointed to examine and report as to compounding. Flour, although perfectly firm at my quotations, is somewhat quieter in tone than for some weeks past. The mills are now mostly in full work, and a market for the surplus flour will soon be needed. It yet remains to be seen whether our own capitalists, some of whom have already secured contracts at current prices, will, should flour become very abundant, go further in their purchases to protect present stocks. Certain it is that;, although Melbourne is becoming eased of her recent heavy burden of this article, yet we cannot look to that quarter for some time for buyers, in face of their -own harvest being now close at hand. The cargo of flour per Anna Dixon, shipped hence to Singav pore in September last, was forwarded to the Mauritius. Several erroneous reports- relative to the sale at Calcutta of flour jointly shipped by several houses in Adelaide in September last are afloat. It is desirable to record that although the market- in India at the date of last advices did not then justify a placement, still no sale had taken place of any of the flour. Wheat.—Owing to orders from the adjacent colonies, a good demand is experienced for this grain at prices not obtainable last week, sales by factors having been made at 5s 2d to 5s 4d in" town, and 5s 6d at the port, for large parcels; but for casual dray loads taken into store, 2d per bushel less is paid. Altogether there has been a far more numerous attendance of buyers than sellers. Bran has not been dealt in to any great extent, and is offered at Is 6d. Pollard is unchanged in value. Barley and oats, new crops, are in more favour, and the continued absence of farmers from the markets is likely to give increased stability to prices. Cornsacks show an improvement, purchases at 20s occurring. AUCKLAND. ' The past week has been one of the dullest even of the present dull times. Not a single foreign arrival or departure having occurred. There has been an equal inactivity in the coasting traffic inwards, but the departures out--wards have been rather numerous. The Customs revenue received during the week ended the 6th instant amounted to £1,039 7s. Id., being £660 ss. sd. in excess of the returns of the previous week. Mr. Alfred Buckland reports a good attendance of purchasers at his yards, on Tuesday last, with a full supply of stock, particularly sheep. The competition was brisk throughout, the breeding ewes, ex Gertrude, averaging 285., wether lambs, 225. 6d.; wethers, ex Henry, 325. each. Fat cattle fully maintained late prices. At Otahuhu, on the following day, there was a large muster of cattle —above 130 head—principally of young stock, and all sold. Rather a limited attendance,-consequent on the harvest, but the bidding was well kept up, and the prices obtained satisfactory. Mr. W. Hunter reports that at Newmarket, on Tuesday last, there was a good supply of cattle of all kinds and a fair attendance of buyers. The prices realised showed an average a little below last week's in store stock. Beef and dairy cows fully maintained former prices, with an increase of demand for both, especially good dairy cows, which are enquired for. Fat cattle were sold from £10 to £8 7s. 6d. Several lots of store stock were quitted at prices ranging from £6 10s. to £3 19s. Horses were not in demand.— New Zealander, Feb. 13. . WELLINGTON. , . The 'Spectator' of the 24th ult. gives the following report of a sale consequent upon the wreck of the whaler Alexander: — Yesterday, Mr. J. H. Wallace, instructed by Mr. Smith, offered the ship for sale in 5 lots, at the Exchange, whichyafter a spirited competition, (the attendance being very numerous) was sold as follows: —Lot 1, the hull of the ship, sold to Mr. J. Varnham, for £270; lot 2, the whaling gear, sold to Mr, J. Martin, for £60; lot 3, four whale boats and fittings, for £95; lot 4, ship's stores, for £70; and lot 5, the whole of the oil, £2,800; Mr. L. Levy having been the purchaser of the last three lots. The whole proceeds of the sale being £3,295. The ' Independent' of the 27th ult. has the following:— On Tuesday last Messrs. Bethune and Hunter sold by public auction a quantity of merchandise. All the goods advertised were not, however, put up, Mr. Hunter kindly postponing his sale, in order that Mr. Wallace might sell the wreck of the American ship Alexander and her cargo. 7 tons N.S.W. flour fetched £13 10s. per ton; 20 cases Whitbread's extra brown stout, quarts, 12s. per dozen; do. pints, Bs. per dozen; 1 ton bacon, l^d. per ft>., (very bad); 6 cases assorted brush ware sold at fair rates; 10 casks English grass seed, lid. per It).; 10 cases salad oil, half pints, Bs. 6d.; pints, 125.; 10 cases pickles, pints, Bs. per dozen. On Friday last, Mr. J. H. Wallace sold by public auction, at the stores of Messrs. Bowler, Son, and Co., 43 bales wool, which realised the following prices:—ls bales wool in grease, Is. 2d. per Hi.; 14 do., Is. 1 ■*<).; 2 da, 9£d.; 8 do., Is. 2J-d.; 1 do., B£d.; 3 do., lambswool,' in grease, Is. 4d. AHUKIRT. ' Wednesday was the day appointed for receiving tenders for supplying the military till the 31st March. We believe that the only tenders ! were for bread and meat—the fact of the troops having arrived without any previous intimation

having precluded the possibility of our merchants laying in necessary stocks, or being otherwise in a position to tender for general supplies. The tenders accepted wore—for bread Thomas Taylor, at a rate per 115. equal to About 7gd. per 2-lfe. loaf $ and for meat, Thomas Reynolds, at sd. per lb. We have little doubt that for the annual contracts there will be many more tenders, and the competition be more spirited.— Hawhe's Bay Herald, Feb. 20.