Markets.

Lyttelton Times, Volume IX, Issue 572, 28 April 1858, Page 4

Markets.

On Monday, Mr. Alport held an auction sale of merchandise, ex Francis, imported from Sydney by Messrs. J. Davis and Co. The goods offered" were generally of a class suitable to present requirements, and drew a remarkably good attendance; biddings were spirited and the prices realized were good. We noticed that the great majority of purchases were effected by Christchurch dealers. The most noticeable items are as follows:—China sugar, 475. 6d. to 525. 6d., Company's crystals, 605., do. piece's, 575. 6d. to 605., Pampanga 505., per cwt., in: half-ton lots; Congou tea, chests, £8 10s. to £9 10.; do. halfchests, £4 8 s.; do. boxes, 40s. to 425. (It should be noticed that the market has been remarkably bare of tea and sugar.) . Sydney soap, 40s. to ! 445.; raisins in boxes, Is. Id. perlb.; currants, Bd. per lb.; 3-bushel bags, a- large quantity, at 28s. per dozen; bottled stout, 133. per dozen; I Old Tom, 1 dozen cases, 205.; cherry brandy, do., ! 225. to 245. per case; choice W.T. rum, 0.p., 7s. per gallon. About 90 cases chairs, also tubs and buckets in nests, and a variety of other merchandize, at fair pices. At the close of last week the millers Yon the plains reduced the price of flour from £18 to £16 per-ton. With wheat at ss. a bushel, the above price is fixed at a fair proportionate figure, and we are glad to see the movement made in the usual course of- trade, and not impelled by pressure -fro»>- without. At the present moment, Svlieat flour and bread are sold with- less »*i»i?*" rity in the price than at-»~?-.v v/jrcion °* *ne nis* tory of our settlement of which we have record. They stand thus atChristchurch: wheat ss. per bushel, flour £16 per ton, bread' lOd. per 4-ftf. loaf. We anticipate that by following this principle of operation our millers may establish flour as an exportable article in place of wheat to a large extent,.a'result, which would ;1»e evidently beneficial to a country in which freight and charges mount up so heavily upon bulky articles. The slight rise which was quoted in the last advices from the grain markets of Australia has, as might have been expected, not influenced prices here, though perhaps it has strengthened growers in their desire to hold. A few shipments have taken place, notwithstanding, as in the Emerald Isle to Wellington. It is to be noticed also that throughput the country a good number of farmers are thrashing with all expedition, as if anxious to be prepared; for any favourable change that may present itself. We hope that this fact is a symptom of foresight, not the result of necessity. With regard to the wheat crop, it is undeniably a large and full one, the breadth being greater than in former years, and the yield more abundant than the average-, and although the weather has not been so favourable for harvest operations as could have been wished, yet in most districts the crops have been secured in very fair condition. If there be any portion of wheat which has suffered so as not to he fit for the mill; we would advise it to be let stand over till the spring or summer, when the dry winds will perfectly, recover it; for if brought earlier into the market, it would not only command a very low figure, but would have the effect of depressing the price of good dry samples. .■ . /■ We must regret that occasionally our fanners seem utterly blind to the value of the crops which they produce at so much labour, and the good s"ale of which is of importance, not only to themselves, but to the whole settlement.'! Sometimes stocks of: wheat are rushed in iat low prices, and the market is further depressed thereby; but there are, remarkable instances in which unlimited expectation of further and further rise on the part of Tibldera . has tended to damage all, parties. :We know of cases within the last eighteen months: in. September and October, 1856, from 6s. to-Bs.;was refused for a comparatively large quantity of wheat, which was held over to January and February, 1857, and then sold for 4s/or 4s. 6d. This was not onljr a loss to that extent to the owner and the colony, but, coming into the market at that time, depressed the price of new wheat. Then, according to custom, a rush was made at the extreme of low prices ; and we mny fairly say that two-thirds of last year's wheat crop wa

sold considerably under the price that might have been obtained for it. About the end of July, 1857, the market began to rally, and consequently farmers thought proper to hold for the extreme price in the other direction, and in some instances for several parcels of wheat 9a. and 1 OS. were refused; The natural result was a stoppage of exportation from the high price claimed/followed by an importation of flour from Australia, displacing, we should think, about 5000 bushels of home grown wheat, of which, after paying for the flour, we still hold large quantities to rcompete. with new parcels. We believe we are correct in saying that at the present moment there is wheat three years old in the settlement which has been kept for an advance through every range of price up to 10s., and is now unfit for market at any price. To pursue such a system is the height of folly. We believe that farmers in many instances imagine themselves deprived of the information which those who meet them in the market are supposed to possess; but-we venture to say that if they act prudently upon the information which is open to them, and avoid'either sacrificing or holding to unfair rates, they .will find a middle course established which will conduce to the interests of the colony and especially of themselves.