Markets.

Lyttelton Times, Volume XI, Issue 674, 23 April 1859, Page 4

Markets.

We have Melbourne papers to the 31st of March. The Customs revenue collected at the port of Melbourne duringtheweek was £28,807 lis. 9d. From the'Argus'we extract the following:—

A public -sale of wool was held to-day at the stores of Messrs. Goldsbrough and Co., at which 361 bales were offered. Many of. the lots were remnants of clips already disposed of. Tlie demand for scoured wool was not sustained, and the majority of the lots were withdrawn. 234 bales were passed or bought in. Salted hides (wet) were sold at from Bs. !9d. ;.to Uls. 3d. each; sheepskins, sfd. to Bd. per-lfe. In the import market business "has presented the usual <appearance. The sale of the cargo of the -Ville de Montpellier, from Marseilles, attracted a large attendance at Messrs. W. M. Tennent & Co.'s rooms. Samples of the .flour had previously been shown,.and had excited much attention from their extreme fineness. The consignment of a shipment of French-flour to this market is of itself a novelty. The quality is generally esteemed among bakers of " fancy bread" and pastrycooks. The result of the sale has not tended towards a rise in prices. The terms of the sale were announced to be cash, and the fact that the entire quantity of flour and wheat, and nearly the whole of the parcel of oats, were purchased by -one -firm. on speculation, led to the supposition among would-be buyers that the goods were withdrawn on owner's account. Such, however, >we are assured was not the case, the sale being an absolute one. The following were the prices procured:—Oats, 4s. per bushel'(a small portion only bringing y4s. Id;); wheat, 7s. per bushel; flour, 40s. 6d. per barrel. The operations of the Cape Patterson Coal Company have been, we understand, so far successful that the company is abont to despatch to Melbourne 40 tons of coal, taken from a seam reached in sink ing their shaft. •

ADELAIDE,

?The following is a telegraphic communication received by the ' Sydney Herald' from Adelaide, under datevlSth April.

Friday, 430 p.m,

•"Political and commercial animation began to subside at the close of last week. This week opened somewhat gloomily. Buyers were cautious, expecting a decline. Holders have been,firm during the last two or three days.

On Monday .and Tuesday wheat was 7s. and Bs. Flour £.18'10s. to £19. Wlieat has since declined to 7s. 6'd. and 7s. 7d. The price of flour to-day was £18 10s. best brands.

•Barley and oats nominal

; Bran "is. Bd. Hay £3 1 Os.to £4 ss. The auction sales were dull and of little "importance.

The oraagh arrivedfrom Singapore with a miscellaneous cargo. Zoe from Mauritius February 19tK, with nearly 5000 bags sugar.; she reports the Mauritius market to be -firmer. French orders large. At Mauritius these is little loading for Sydney. The Thomas and Wild Wave had sailed. A later telegraphic despatch from Adelaide, dated the 4th April, states that • flour and wheat are.not so firm."'

TIIE EMPLOYMENT OF SHIPPING.

'We take the following review of the freight market 1858, from the London circular of Messrs. Seymour, -Peacock and Co., which-is quoted by the English press as reliable in its details, and which offers important matter for consideration to all concerned™ colonial trade and shipping:— ■,

The year :just closed has been marked by unprecedented depression in the shipping interest; not limited to particular trades—or for exceptional periods—but the employment of tonnage' has been unremunerative in every part of the world during the entire year;

/To some extent the accumulation of tonnage may be attributed to the discontinuance of the guano trade, which sent vessels from the colonies, &c, seeking to India instead of to the Pacific; but the main cause is consequent upon the -increase in tonnage of foreign nations, and more especially that of America, since the repeal of our navigation laws. Official statistics prove that while theproduction of tonnage in the United Kingdom has not kept pace with 4he increase of our commerce, the premium held out to foreigners by tlie unconditional opening of our.trade has stimulated building abroad to such an extent that the mercantile marine of America, which was nearly 1,000,000 tons less in 1849 than ihat of this country, now equals,lf it does not exceed it; and the "increase df foreign shipping into the ports of Great "Britain and her dependencies is rapidly displacing the vessels of our own flag.

Exports to Australia have continued large, although not equal to former years, but with an annual yield of gold exceeding £10,000,000 sterling trade to tlie colonies must continue large. The berth has been fully supplied with tonnage in London at an average of 60s. per .register ton, and from 60s. to 70s. at Liverpool, tonnage having offered less freely towards the close of the year at the latter port.

The Government Emigration Commissioners chartered steadily throughout the year, the bulk of business being undertaken, as in former years, by the Liverpool ship owners. In 1857 the average cost of conveyance of Government emigrants to the colony was £16 ss. per head, and it will be seen that during the last year this rate has declined in common with other freights. The prices have ranged as follows*—

Erom Birkenhead to Melbourne, £12 14s. id.; Sydney,-£l3 18s. lid. to £14 19s. 3d.; Adelaide, £12 18s. lid. to £14 13s. Ild; MoretOn Bay, £14 9s. Id. to £16 Is. lid.

Owing to the liabilities incurred by owners engaging in the passenger trade,.and the strict surveys and other requirements of the service, the number of vessels tendered is not large enough to "influence rates very materially; thus, notwithstanding the depression in freights and accumulation of idle tonnage, on one occasion last year but one vessel offered, and on another occasion but two were tendered in reply to the Commissioners'' advertisements.

'Emigration generally has fallen off during the year, and especially during.the autumn. In 1857, 645 ships left England, conveying 200,695 passengers in vessels not coming under the act;.but during the Inst year tlie statistics are expected to exhibit a large reduction in ship's and passengers. The arrangement of a mail contract for Australia with the Peninsular'and Oriental Company was completed early in October, and a demand for tonnage for conveyance of coals to the colony]'immediately followed? s for the first cargo 435, 6d. per ton was paid from Birkenhead to Melbourne; this was followed by a contract for, a large quantity at 40s. by the agents of tho " Black BftH"'Lihe of Packet*

and the demand continued to the close of the year at 40s. to 455., Melbourne or Sydney, and 375. Od. to 40s. King George's Sound. Iron and coke for Adelaide has also offered at 50s. per ton from Wales. A vast amount of foreign tonnage has engaged in the Australian trade, especially American and Dutch, the latter being able to compete easily with us in consequence of the protection of their flag in the home trade from Java, and the exclusive employment of their vessels by the Dutch Trading Company; owing to the exclusive privileges enjoyed by the foreigners in homeward freights, they are able to accept lower rates outwards, and'thus compete successfully at both ends of the voyage. The trade; with New Zealand has been active throughout tiie year, more especially in the autumn, when shipping was engaged at 70s. to 80s. per register ton. The trade with the Sandwich Islands increases steadily, and the importance of extending our commercial relations in this part of t,the .world "becomes daily more apparent-; and more especially since the discoveries in British Columbia, and the probability ere long of mail communication with Australia via Panama. •; As a whaling station, there has always been a good deal of local trade, and during the last year the exports from Honolulu' to Liverpool have included Ss,ooolbs. of Hawaian wool, besides hides, whale and cocoa nut oil, &c.

In considering -the prospects for the new year, there appears to be little to encourage us beyond the probability of high outward freights. To India enormous-shipments must be made-; the encouragement given to railway enterprises.; the transmission of vessels for the inland navigation of the Indian rivers-; the conveyance of-troops and stores required for the large army which must necessarily be iriain-tained-in that vast empire.-, the export of coal to the East, which will require at least 200,000 tons of shipping—will combine to give employment to a large fleet, and,-in the probable eontimianoeof low freights, exporters home will have to submit to rates of freight that will coverthe risk of the entire voyage. Witli the development of the resources of India by ari extensive system of railways during the present year, we may alsoilook to Japan, China, and British Columbia .as-new and important outlets for our commerce-; but to what an extent these resources will become'available in the ensuing year it is impossible to calculate. With the spring "it is to be hoped an active demand will: arise for guano, and tend to stimulate that important trade for our shipping. At present stocks are veny heavy, and we can hardly look for any material improvement in the demand for tonnage for some time to come. In such a time of depression, the importance of removing all unfair restrictions upon British shipping becomes imperative; and unless common justice is obtained, there can be no doubt that a considerable amount of English tonnage will be at once transferred to foreign flags, for the purpose of avoiding the disadvantages appertaining to British shipowning.. While boasting of a free trade system, our legislative "tinkering" with shipping exhibits glaring inequalities. We regret that in presenting an impartial report upon the freight market of 1858, we are unable to furnish a more satisfactory statement; but we hope that the revival and extension of commerce, :the removal of <the disabilities and peculiar burdens upon British shipping, will, with a reciprocity from foreign nations, restore prosperity to the most important interest in^he British- dominions.