Markets.

Lyttelton Times, Volume IX, Issue 566, 7 April 1858, Page 4

Markets.

The Glentanner's departure is announced for to-morrow, to be followed immediately by the Oriental. Both ships take full cargoes of wool. That of the Glentanner amounts to 1797 bales, weighing 623,471 IBs. gross, and of the declared value of £44,925. It is ascertained by actual investigation of a considerable number of bales that this value, at an average of £25 each, may fairly be placed upon them. Clean wool may be valued at Is. Bd. per ft>., and greasy wool at is. 3d. These figures represent the actual cost price delivered on board, without .reference to the home markets. „ . " The wheat market is in an unsettled state, farmers1 asking higher rates than purchasers are inclined to give, and as a rule holding for ss. 6d. There is, however, but a limited quantity yet offering, owing to the backward state of the harvest. To all appearance at present, and looking to the absence of any margin for export at the quotations fr-an neighbouring colonies, prices are not unlikely to have a backward tendency when the crop comes moi-e freely to market. Barley is still saleable at ss. 6d., buj we hear of no quotation for oats. ■' EtfGI,I6H MONEY MARKET. • The. following report is frpm the 'Home News,' I of January 16:— ! 4 . ." The recovery, from, the monetary crisis has j* been as rapid as its rise and progress. At the ; date of our last issue money was very scarce, j the' Bank rate 10 per cent., and gloom and de- | pression characterised all. departments of trade.

Now the difficulty'is toTffndsafeemployment for capital—:the Bank rate is 5 per cent., with the prospect of an early reduction—and business generally is rapidly recovering from' the effects of the late crisis. Altogether, year opens better than could be expected. But in the discount market there continues to be considerable irregularity in the rates paid, and great caution is still exercised in discounting mercantile bills. First-class bills, short date, are quoted at 4 to 4f per cent. " Consols for money 94f, and 94| to J for the 4th of February ;

"On the 24th of December the Bank of Eng-i land reduced their rate from 10 per cent., at which it had stood since the 9th of November, to 8 per cent.; on the 7th of January to 6 per cent., and yesterday to 5 per cent. The bullion now held is belieted to be between £1,000,000 and £2,000,000 in excess of the total in May, 1856, when the rate was reduced from 6 to 5 per cent., and nearly, if not quite, equal to the amount attained in the following month, when a further reduction took place' to 4£. The influx still continues, and is likely to be maintained for sometime. . .;■■ : . ;

London wool-KEPORT.-7-January, 1858. Since our last, notwithstanding the failures of several large operators,in the north, our market has somewhat acquired a better tone, arid wool is held more firmly with a fair enquiry. Several parcels of second-hand wools have been sold to continental buyers at an average advance of Id. per 16 on late sale rates,: the selection being principally of good Sydney fleece and fullbodied wools well scoured and bright.

It is generally expected that the February sales will comprise about 40,000 bales, and if the demand for continental requirements should equal expectations a rise may be looked for of >3b&ut l^d.; fine and choice lots will, however, bring more, the enquirers for these descriptions for fancy 'purposes abroad having led to our market being cleared, with the exception of one choice brand scoured, held at present above market rates, although a few bales which have been sold brought 2s. lOd. per Ib. for France, it is believed. .•-■■■ -•■-L> i-.'- > ''. .- ".. ■ -'■- '- -. ■;

The arrivals to ,date;are 11,000 bales, which, with about 9,0Q0 bales, secondhand, brings our stock to 20,000 bales.— -Home New r.