Markets.

Lyttelton Times, Volume XI, Issue 654, 12 February 1859, Page 6

Markets.

ENGLISH COMMERCIAL,

: rßyrtelegraph from Melbourne to Sydney advices Imve beemreceived to the 2Sth Nov. ConsoU are at a decline of £. Bank stock is unaltered. '<The general impression at the Stock Exchange is that money has touched-its-cheapest point. November 24th.—3 per -cent Consols, 98 £ to 98£ i reduced, 97. Bank stock, 226. India, 227. Atlantic Cable Shares fell from 320 to 300; good 2 • months paper is still done at 2} to 2s. • At Soalliey & Co.'s sales on the' 15th November, the sale of colonial-wool commenced at an advance of lid. to 2d. average on "Aiistralian, and l|d. on Cape. Both descriptions of "wool have since furjther improved, with every appearance continuing. The unusually severe weather which prevails throughout France and adjoining countries Avill-no doubt stimulate foreign buyers. At the early sales - Very little was done by them. Scoured Wool commands extreme prices. Fortunately, the general run of colonial wool now offering is very suitable for the demand. The intelligence as to shipment is considered favourable to holders. The exports to Australia during the month of-©ctober^are decidedly less than imports, 'WELLINGTON. The ' Wellingtonlndependent' of the sth instant i has the following items of commercial intelligence;— X Business has been very quiet this week, but former prices have been fully maintained. Our merchants are busily engaged In procuring wool from the stations and prepafingrit ready for ship'inent for the English market. The-weather has ; been remarkably fine, which has-enabled the vessels in port to use expedition in loading. The Louisa ■'is a full ship, having cleared =at the customs yesterday-, and the Robert Small "is 'filling up very rapidly. The estimated value of the Louisa's cargo is £12,448 10s.-3d. The Ctontarf, from Canterbury, • is hourly expected. She'is advertised as the next wool ship for this season,and as 1,000 or l; 500 biles ■ are waiting for -shipment at Napier, she will, no ••'doubt, meet with despatch. The timber trade of 'this province is daily lincreasingin importance, and our merchants woulil flo well to foster this branch of industry. Canterbury has little timber upon its extensive and fertile plains; Wellington abounds in ;forests of the finest timber; and exchange of comgrain for sawn limber, would be alike beneficial to both provinces, and add largely totfheir prosperity. The mill power of this province has been largely increased of late, and an almost ■unlimited -supply of sawn timber can now be procured. Messrs. ■I'Hwm'er and Sons have purchased •the'snw mill erected by Messrs. Mrfbey and Morgan, rat the Upper Hntt, and the samples oftotaratiut 3>y the mill, and how lying at'their wharf,are really -of. a very superior description. The totara is the 'rn;}st .easily worked and most, lasting of any timber rsn New Zealand, for we have seen trees that must liave been upwards of 100 years old, the, hearts of which were as good as the day they fell.

\We«Uiesd&y was Mutt market day, and it being beautifully .fine,;there was a large number of visitors fromttown. The usual amount of "business was

transacted, but prices, generally speaking, ranged , low. Messrs. Bethune and Hunter sold by public auction, at the residence of P. Cheyne, Esq., Hut't, .10 acres of freehold land, for £350, also, £ acre do. adjoining Mr. Compton's property, for £12 10s.; 2 tons hay brought £8; 6 milch cows from jEI3 to £16 10s. each; 5 head of cattle, £35, depasturing at Wairarapa, and a quantity of household furniture and effects at fair average prices. The cargo of horses per Rober tin a, imported by Mr. T. Miles, have been sold by private contract, at an average price of £34 10s. each. ; SYDNEY. We have commercial advices from Sydney to the 21st inst., from which we learn that on the 20th, Messrs. Mort and Co. held their weekly produce sale. The quantity of wool catalogued was 277 bales, but owing to the announcement by telegraph of the arrival of the Oneida at Melbourne, .most of the lots offered were withdrawn. The following were the prices obtained for the lots sold:—Fleece, Is. 6-|d. to Is. 9£d<; grease, 10d. to Is.; mixed, lOd. to Is.;.locks, sd. to Is. -Ifd. Sheepskins were in demand,.and .over 6000 wore sold at from 6£d. to 9d. per lb. Tallow.—The market is firm, and the town trade were rather anxious to obtain the lots offered. About 34 casks were sold at from 445. to 51s. per cwt.

Hides.—Those offered to-day were mostly of an inferior quality. Over 1000 hides were sold at from :6s. 3d.,t0.L15. 6d.

MELBOURNE.

"Via Sydney, we have Melbourne papers to the 17th instant. The amount of gold-dust received by escort during the week was 36,275 ozs. 10 dwts. From the'Argus'we take the following:— The markets have scarcely recovered from the 'holiday Feeling of the season, ami transactions have been unimportant. The money market has opened for the year less easy than it left off in 1858. The failure of Messrs. A. Young and Co., and long lists of small tradesmen and others which appear almost dnily under the head of new insolvencies, have had the effect of rendering accommodation less easily obtainable. The present position- of theimport market may be added to these causes of a tightening money market. It amounts almost to a certainty now that English shipments, after having slightly given way, will be resumed to an extent far beyond the wants of the markets, and this state of things will continue until disastrous account sales carry home advices -which should be convincing.

; Both the import and export mafkets are at a stand for want of advices. At the only wool sale of the weekbayers came forward very cautiously, and it was once or twice put from the rostrum whether the sale should be suspended until after the arrival oftheOneida. -As the lots were proceeded with, a few were disposed of, but three-fourths were passed over. In the import market there are no large buyers, and the trade transacted daily is very trifling. Prices of goods appear to be giving way a fraction.

'ADELAIDE,

Gur dates from South Australia are to the 13th instant. The'Kegister'reports as follows:—

: The produce market remains firm. . For flour there has been some inquiry for the Melbourne market. The price, however, remains steady at £15 to £15 -10s., and a little business has been actually done. Wheat is stillin demand for shipping orders, and as the quantity brought in by the farmers is small the millers and.factors are giving a shade higher prices-; 6s. 2d.. and 6s. 3d. has been given in town, and at the pert'the price is firm at 6s. 6d. Barley: Cape, 3s. 9d.; ditto, JEnglish, ss. HOBART TOWN,

From Tasmania we have news to the 12th inst. Fine flour was quoted at Launceston at £20; seconds, £17; wheat, Bs. per bushel. The 'Hobart Town Mercury' says— : Hohart Town, January 12th. — The continued scarcity of wheat serves to maintain present quotations, Bs. 6d. to Bs. 9d. per bushel, and 9s. is still occasionally given for very prime samples. Colonial oats sold to-day at ss. 6d., and a. small lot of Cape barley, not a first-rate sample, fetched 4s. per bushel. English barley meets with no inquiry. Loose hay ranges from £5 to £6,105. per ton, according to quality, and country pressed from £6 ,to £6 10a. Potatoes are quoted at £10 to £11 per ton. The advices that came to hand from Melbourne this morning have .produced no effect upon the flour market, and the advanced prices still rule, in consequence of the scarcity of wheat. Fine flour sells at jEl9to,£2o per ton, according to quality. . Bran, Is.* StiL to:2s. per bushel. _ ;3?he following telegrams were received in Sydney; MELBOURNE. Jan. 20. "Market l>nsk to-day, but no change. Two wool sales were held, at which prices advanced 4d. 3000"bales offered, and 2600 bales sold. Messrs.'Clough and Co. report their sales well attended, conipetioh "brisker. Buyers, however, acting with great caution; purchases made at about old rates. Some new lots realized more than our valuai tion. A choice lot of New Zealand fleece realised 23d. ! At a general meeting of the shareholders of the National Bank, for the election of new directors, the result was as follows:—Messrs. Campbell, Brown, Lempriere, Mackenzie, Houston, Franklyn, successful ; Messrs. Mitchell, Cashmere, and Cruikshank, unsuccessful. Jan. 20,10.15 a.m. The Oneida's news is satisfactory. "Wool is up 2d. per fls. Oats, only 32,000 bushels shipped in all October. Butter, 5000 firkins, of which only 400 for Sydney. Larger quantities of brandy shipped. Geneva—7ooo gallons to Melbourne, 8000 gallons to Sydney. There was no vessel for the colonies at Calcutta on 22nd November. The Fairlight sailed for Melbourne on the 24th October with 1200 mands of rice, 1600 inands of oats, and 9000 mands of sugar. All these articles had advanced considerably at Calcutta. The Bella Vista sailed from the Mauritius for Sydney on the 2nd December. . ADELAIDE. Wednesday, Jan. 19. Markets unchanged. At wool sales to-day the following prices were realised : South Australian fleeces, 13|d. to Ts£d. Greasy Murra^fe^d. Greasy, from Ndprth 7£d. to 8(1. Murraybone (N. S, W.) of inferior quality withdrawn at Is. 6d. and Is. 6£d. ALBURY. Thursday 11.11 a.m. Stoppage of Intercolonial Telegraph Communication. On Monday we had a heavy thunderstorm from the southward. The lightning entered the telegraph office, struck the relay, fusing the wire, and slightly stunning the line inspector, who was sitting near. The report was like a pistol going off. The communication by telegraph was interrupted both ways from here. The floods washed away a quarterof a.nrileof posts on the Melbourne line, and damaged Sydney between Gundagai and Albury, No communication witli Melbourne since Monday morning, nnd Sydney Monday night, till this day.