COMMERCIAL.

Otago Daily Times, Issue 110, 24 March 1862, Page 4

COMMERCIAL.

■■'■■■' Daily Times Office, Saturday Evening. The City of Hobart and Omeo arrived yesterday, the latter bringing the English January mail, but the December mail was still absent. From Melbourne but few general shipments were leaving; indeed, quotations for goods there are so high, that in very many articles the rates at which similar merchandize is selling here would leave a heavy loss. Brandies had again advanced, and medium qualities in case were not to be got. Geneva was up to 14s. New currants are quoted at 6^d to 7d. Manilla cigars had been bought up on speculation, and the value of No. 2's was 60s in bond. The news received by the English mail was considered very favorable to holders, who were inclined to increase: their quotations. Failures of considerable amount are recorded; viz., Messrs. Westgarth and Co., of London, and Mr. William Perry, of Melbourne (late Symons and Perry). These suspensions are not considered to be attributable to any recent losses. Messrs. Ryan and Hammond have also called a meeting of their creditors.

Our English advices are to 25th January. The news whicH had reached Britain from Otago was not of a late date, nor does there appear to be any very noticeable increase of passengers or shipments lor this part; probably next mail will bring news of more leaving. The Lady Egidia sailed from Clyde 10th January; she was to be followed by the Zambia. From' London the Donna Anita is overdue; the Akbar sailed December 31, and the Whitecharen Lass on January 16. The James Booth, Black Ball ship, was advertising for passengers for Melbourne and Otago, and the Black Swan and Geelong were loading. During the past week there has been rather more "business doing in this city, and there has been a pood demand for case brandies of good qualities. Whiskey in case is getting .scarce, and as such limited stocks as there are are held by two or three firms, price 3 are likely to advance. Monday will be a general holiday, being the anniversary of the settlement of the Province.

' 'Custom Hotjsb, Punedin, 22nd March, 1862,— The quantity of gold .entered to-day was 8994 oz. 12 <dwt., and the duty levied thereon amounted to £1124 *>s. 6d. The import duties realized £441 ss. Id.

The Argua reports that decreased shipments from England had imparted a firmer tone to the market, and holders arc looking for advanced prices. At a sale of tea ex Ceres, good congou realised £10 5s per lest: 10 catty boxes, 28s each; scented orange ekoe. 2s 6d per lb. Sugar.— Nc.'l Cossipore feto*^

50s per cwt; Mauritius ration, 27s 6d to 30s !)d I middling; to cood, counters, 33s 9d to 37s ; crystals, 40s to 4133 per cwt. Brandy—ooo cnscs Rouillar's, with all faults, 19s Cd to £0s per dozen case in bond. Business in the stock and share market had buen dull. Colonial Bank of Australasia shares, £6 5s and £6 Gsi; Victorian Insurance Co., 30s. Flour is quoted in the Melbourne market at £12 to £12 5s per ton. Sheep.— The following are the latest quotations : —Wethers, from six and eight-tooth, 9s 6d to 10s (id ; do two-tooth, 7s 6d to Ss Cd. Ewes, two, four, and six-tooth, in lamb, 12s to 14s; do, not in lamb, 10s Od to 12s ; do, full-mouthed, in latnb, 9s to 10s ; do, aged, in lamb, 6s to 7s. Timber.—We extract the following from the Melbourne " Age:—Messrs. C. S. Ross and Co. sold by auction this day, on the Wharf, ex Snow 'Squall, 24,000 feet WPTG flooring, at from £9 to £9 5s per 1000; 21,000 2-inch clear pirn;, £15 ss; 11,000 l.Unch ditto, £14 10s; 17,000 1{ do do, £13 17s 6d lo£l4 per ditto; 0000 feet ash and hickory plank, £14 7s 6d to £15 10s ; 50,000 4J feet laths, 31s 6d per 1000. Ex J.ick Frost, 25,000 feet inferior shelving, £810s per do; 7000-1-inch clear pine. £11 17s 6d per 1000; 30,000 feet \-\- inch Norway pine flooring, at £7. Ex' Dirigo, 90,000 feet WPTG flooring, at £9 2s 6d; 35,000 bundles spruce flooriug, 11sper 100 feet lineal; .r>o,ooo 4-feet laths, 25s per 1000. Ex Heligoland and Queen of England, 400,000 feet Scotch flooring and weatherboards, at tin following rates:-6 x lj, red, 17s 9d to 18s 3d per 1000; 6 x H, white, 1.5s 6d; 6 x #, white, 12s 6d to 12s 9d; 6 x 2, 9s 3d; 6'x i, 8s 3d to 8s 6d ; .6 x jj, 8s Od to 8s 9d per 100; also, ex Parthenia, 1150 window sashes, and 1530 P P and D M doors, at full rates. The first consignment of Bass's new ale has arrived in the Bay by the Marco Polo, but none of it has yet been landed. A parcel of No. 3, old brew, was placed to-day at £8 10s per hogshaad. There is a better inquiry for bottled porter, and Byass's is held firm at 10s 3d, at which price, we report several transactions. Oats continue very firm. The last cargoes-whieii have arrived are still in the importers' hands; 4s 3d per bushel was refused for one of them, and they are now being held at from 4s 4d to 4s 6d. Some very unpleasant rumors have been prevalent in town to-day relative to the suspension or approaching stoppage of payment by more than one large house. An extensive firm on the Avoca, with liabilities to the amount of £8000, has found it necessary to call a meeting of creditors. The assets arc said to be very small. A well known house in the cattle trade, with debts to a large amount, is also said to be hopelessly involved in consequence of losses sustained through the failure of De Castella and Anderson; and one of the oldest Melbourne auctioneers is reported to be in a like condition, though not from the same cause. All these reports tend to make business very unsettled. We believe we are correct in sisying that the firm of Westgarth and Co., Australian merchants, England, whose failure was announced in our telegram of English news published in this morning's issue, are not connected with the Melbourne house of the same name. At Sydney a cargo of Mauritius sugar, ex Wild Wave realised the following prices. Rations £31 10s to £35;. yellow counters, £40 to L4O 10; white counter, L4l 15s; white crystal, L 47 os. At Adelaide flour was dull of sale at Lll per ton.

FAILURES AND EMBARRASSMENTS, counts from Genoa mention the stoppage of Messrs L. and G. liolla, general merchants, for about L 30,000. The old established banking-house of H. O'Shea and Co., of Madrid, lias gone. Messrs Charles Ogleby and Co., oil merchants, of Lambeth, with liabilities of about L 60,000, and Mr. T. Mansbridge, warehouseman, for about 1/25,000 j in both which cases it is thought the assets will be good. Other suspensions are—Messrs Fitch and Co., provision merchants, for about L 20,000 ; Mr. Edwin Morton Abbott, late of the Bow Brewery ; Messrs. G. J. Culvert and Co., railway ironfoutiders, of York, the liabilities being a little over 1,100,000. The City of Hamilton, Canada West, are unable to pay the coupon due on their bonds. They plead the magnitude of the engagements of the city, and propose to apply for assistance to the Canadian Legislature. If denied sucli help, the bondholders are to be asked to receive a much lower rate. The latter are* indignant at such treatment, and are taking steps to enforce their legal rights. At a preliminary meeting of creditors of Messrs. Westgarth and Co., a balance-sheet was submitted, showing the following unfavourable results :—Creditors expected to rank upon the estate about £28,000 ; and assets, consisting in great part of the surplns value of goods shipped, upon which advances have already been made, abojit L 12.000. Some discussion took place, in the course of which dissatisfaction was expressed at the too ready facilities afforded by the Australian banks to parties buying goods on credit: and. it was eventually resolved to appoint a committee of four to confer with Mr "Westgarth, and ascertain if the firm can make an ofl'er of a composition of 7s 6d in the pound. At an adjourned meeting of creditors it was resolved to appoint four inspectors to manage the estate provisionally, until further information shall have been received from I Australia.

At a meeting of the creditors of Mr. Frederick, Meyer, trading under the title of Ogluby and. Co., the balence sheet presented showed a surplus of £5,200. The failure has been eutirely unforeseen, and was attributable chiefly to Mr. Meyer's Australian transactions not turning out so well as had been expected. The suspension was announced on the 24th. of Messrs. John Forbes and Co., of Lawrence-lane, Cheapside, whosesale warehousemen. The liabilities are unknown, but the assets are presumed to be considerable.