To the Editor of the New Zealand Spectator. Wellington, 3d Sept. 1846.

New Zealand Spectator and Cook's Strait Guardian, Volume II, Issue 115, 5 September 1846, Page 3

To the Editor of the New Zealand Spectator. Wellington, 3d Sept. 1846.

Sir, — In your paper of yesterday, you state under the head of " English News" that " the latest London prices of Oil are as follows :—: — Southern Oil is quoted at £26 to £26 10s. per tun." This statement is so very incorrect and has such a direct tendency to mislead parties interested in the article, that I beg to give you an extract from the letter of a London house, dated 16th April last, to a respectable firm in Sydney, which is copied into the Sydney Herald of the 12th August, and the accuracy of which is confirmed from other sources, shewing the correct price* that Southern Oil realized at the last auction sale in the London market. " Fine quality £26 @ £26 10s. per tun. " Good £25 @ £25 10s. „ "Middling £24 155. @ £25 „ " 4 Tuns of Southern Foots £22 10s. I am, Sir, Your's respectfully, Argus. Thk prices alluded to by our Correspondent were taken from the Sydney Morning Herald of August 12th. We have published the whole extract, which our readers can compare with the quotation in Wednesday's Spectator. Ed. N. Z. S. " REPORT UPON THE MARKETS. " London, 16th April, 1846. "Ons. — There has been a good business transacted in seal, hut without any advance in price, pale is only bringing £27 10s. to £28 ; straw, £26 to £27 ; yellow, £25 to £25 10s. ; and brown, £24 to £24 10s. ; holders are not pressing sales. Southern oil is in increased request, with an advance in price, several parcels have been disposed of by private contract ; at auction, line quality sold at £26 to £26 10s. ; good, £25 to £25 10s. ; middling, £24 15s. to £25 ; four tuns of southern foots brought £22 10s. Sperm is not offered on lower terms, business has been limited to private treaty ; fine quality at £82; headmatter, £S3; foreign sperm, £81 ; headmatter, £82 ; a fine winter strained light body sperm, £80 to £80 ss. per tun. The deliveries offish oils have again exceeded the arrivals, still, prices for all descriptions are considerably lower than they were last season at this period, and the consumption is going on satisfactorily. Cocoanut oil is sought after, but there is little here ; 325. to 345. has been given privately for; and 28s. to 31s. per owt. for common to middling, the st >ck is decreased, and the consumption continues to be good. American lard oil taken in at £39 per tun."