Commercial Record.

New Zealander, Volume XVIII, Issue 1714, 13 August 1862, Page 3

Commercial Record.

O T A G O. Business continues very dull, and the weather so winterly that we cannot for some weeks anticipate much improvement. The country demand is reduced to zero, and the town trade is supplied for actual wanu, beyond which, n.o dealer will purchase. Our market is certainly not overstocked, and were any free demand to set in. an advance in values must take place, but this is quite unlikely for two months to come. It is a sign of the times that the only vessel discharging cargo is the last steamer from Melbourne, the cargo from which is now being landed from lighters. To-day some important arrivals are reported, the Abdul Medjid, from London, and the St. Magnus, from Mauritius. The former brings a large assorted cargo of English goods, and the latter 5.201 bags of sugar and 100 bags dates. The Lombard has arrived from Newcastle with coals, which we learn have been sold at 41s. a ton cash at Port Chalmers, a rate that will leave a severe loss to the owners. The new Jetty was opened to traffic on Saturday, 2Gth inst. and will be a great convenience for vessels of small draught of water, steamers and lighters, as drays can now go alongside the vessels then discharging. Several meetings of creditors have been held lately but no failure of much importance has taken place, the minor difficulties that have occured, however; compel us agaiu to refer to the non-existence of any insolvency law, a fact which must render business here specially uncertain; and without such a protection to the trade of the Province, and indeed, of New Zealand, the credits, helps, and facilities, which are so much needed in a young market are veiy unlikely to be extended by capitalists—either private or joint stock. We cannot notice any alteration in value of articles of staple consumption, nor any demand beyond the most limited '* hand to mouth" wants.