COMMERCIAL.

Otago Daily Times, Issue 316, 24 December 1862, Page 4

COMMERCIAL.

DAILY TIMES OFFICE,

Tuesday Evening. There were no export entries for gold passed at the Custom House to-day. The^ Customs Revenue amounted to L 823 14s, the following being the principal items :—Brandy 3-3 A gallons, L 172 lls 6d ; whiskey, 577.ga110n5, L2o 13s ; geneva, 4U gallons, L2B 3s 6d ; mm, 244 gallons, LlO9 16s; wine, 135 gallons, L2O 5s • suuav 17,666 lfa, L 73 12s Id'; tobacco, 1,318 Ib, L 9 Usffi! The General Government Gazette contains a copy of a despatch from the Duke of Newcastle to bir George Grey, notifying that the Acts of Incorporation of the Bank of New Zealand, and the Bank of New South Wales, passed by the General Assembly, have been left to their operation. Accompanying this dispatch, ia the following memorandum from the Right Hon F. Peel to Sir F. Rogers, referring to the 14th section of both Acts of Incorporation, relative to the value of bullion :— Treasury Chambers, a . „..-.. . 13th September, 1862. bir,—With reference to your letter of the 29fch January Jast, transmitting: copies of two private Act" passed by the Legislature of New Zealand, entitled An Act to incorporate the proprietors of a certain Banking Company called the Bank of New Zealand and for other purposes ;" and "An Act to inooroorate the proprietors of a certain Banking Company called the Bank of New South Wales, and- for otnWurposes/ . r I am directed by the Lords Commissioners of Her Majesty s Treasury t; acquaint you, for the information of the Duke of Newcastle, that my Lords see no objection to these Acts being left to their operation 1 heir Lordships wouM, hoy/ever, surest that the provision in the 14 Section of each Act regarding the value of Bulhon would more properly form the sub ject of some general enactment, rather "than of a clause in a particular Bill for the Incorporation of a Aiank, and tliey would be inclined to doubt the expediency of fixing by enactment, the price of unassayeu Gold. In the case of the Bank of England, the rate at which persons may demand notes in exchange for Gold is fixed by Act of Parliament with reference to fcitamiard Gold, with a provision that the Bank shall in all cases he entitled to require Gold Bullion to be melted and assayed by persons approved by the Bank at the expense of the parties tendering such Gold Bullion. The effect of this provision is that unassaved Gold or Foreign Coin is received by the Bank at its market value with reference to the price of Standard Gold • this seems to be the true principle, if it be desired to gi/e facility for obtaining a circulating medium in exchange for unasrayed Gold, for the Banks will probably be governed in the purchase of uuassayed Gold by the price for which they are allowed to account for it in their periodical accounts, and the attempt to fix an undeviatmg price for that which must be of -uncertain value, depending- on the richness of the native bold, mnv tend either to giva an undue profit to the Banks, or to impede the natural expansion of the circulation. My Lords have further to observe that the price iTITr 1'1 is incorrectly slated in this clause, at £3 1/s9J the ounce, that is the price at which the Bank of England is required to purchase it: but the Mmt price, that is the quantity of Coin which is mane out <>t an ounce of Standard.Gold is 4-'3l7slOirf and that is the price at which Standard Bullionf'is sold by the Batik of England. I am, &c, Sir F. Rogers, Bart, F' PEEI" CHRISTCIIOI'iCH. (From the Lyttelton Times, 20th December.} Messrs Milks and Co. report the sale of 107 head of imported cattle (mixed ages) at 19 per head • eignt working bullocks, at L 44 per pair, deliverable near Clmstchurch; between two and three hundred head of mixed cattle, south of the Orari, afc LBlss per head; 1.000 ewes, in the Otago Province, at 31s per head; 10 southdown rams, delivered in i yttelton, at L 6 per head; and half interest in a flock of sheep on terms at current rates all round. Fat Cattle.—During the last week we have had several enquiries for anything approaching- to fat stock for tbe Otago market. The demand for our own Province Is also brisk, and notwithstanding the recent importations from Gipps Land to Otago, prices are firm and are likely to continue so: we quote from Liv to Ll7 per head. Store Cattle are rather more difficult to quit although considerable quantities are constantly changing hands at satisfactory prices : we are still prepared to supply store cattle from Wellington in mobs to suit purchasers. Ewes are in good demand, and may be quoted from 30s to 31s 6d per head according to quality and place of delivery. We know of one or two buyers who would be inclined to operate largely if any inducement were offered by a slight' concession in price. Ewe lambs are much enquired for, and would meet with a ready sale, at from"2os to 22s Gd'per head Wethers are in good demand, and present prices are likely to be fully maintained. Messrs Luck and Clark report the following stiles ;fcc:—6B3 acres of rural land, purchased for Ll 366 and let on lease for three years at a rental of L 170155, I with a purchasing clause at the end of term at LJ,U49. A plot of freehold land, having frontages to Colombo-street south and on the South Christ church road, being part of rural section No 227 containing three acres, sold for L2lO. Four buildine lots on the Papanui road, close to the town belt north, let on lease for 21 years at an average rental of 7s 6d per foot. Messrs Burkell, Bennett, and Sprot have to report an increased desire on the part of traders to our- ' chase cattle, but without causing any alteration in price. They have placed under offer 1,400 head I which they hope shortly to report as sales. ' i Sheep.—-The contract for 3,000 to 10,000 wethers, to be delivered in Lyttelton, formerly reported, is now i completed, and the first draft of 3,G00 will arrive per Prince Alfred, on or about the 30th inst. A small . lot of good ewes have been bought to remain on term" | price 30s per head, 40 per cent increase, 2s 6d wool money. - Ruks.—The imported run of Messrs Dowling Bro- | there, situated on the Ashburton, was sold on Wedi nesday, the 17th inst, by public auction, at Messrs j Burnett. Beunett and Sprot's rooms. The sale room was well attended by runholders, and there were present representatives from all the banks and leading mercantile iirms. The bidding wa?, as usual in such cases, quiet but determined, and the result precisely realised the expectations of air parties interested, being satisfactory to both seller and buyer. The last bid was L9,9otf, at which price the run was sold. There is a strong confirmation of the opinion expressed in a former report, viz., that back country runs would be found of immense value for the depasturing of cattle, owing to a rapidly increasing population of consumers. This has been verifiedby the •fact that four runs offered for sale for some time have been accepted, subject to approval, and that in the event of non-approval, other parties are ready to enter into the transaction. This must continue with the accounts from Otago. , ! How Clarke used to "HowL^Every cricketer knows that there is a spot between the batsman and the bowler which, when the ball pitches'on it "causes," as Felix said, "the most indescribable sensations." Every player knows that out of the many good lengths, he will have one fair more perplexing than another. Now it was this very length that Clarke most cruelly would bowl—it.'wasthis very spot on which most mercilessly he would pitch ; and, though a roan felt happy in having escaped the first ball of the sort, Clarke would soon see he did not like it, and that he winced under the operation} and coolly remarking, "We shall have a haceident, Muster Felix, I know we shall," he would repeat the dose, and generally with, effect. s( In short, Sir>''l said one man,in: intense disgust, '"Clarke began jwith establishing a raw—finding out% sore place-1-, and after that he worked away ino§t pitilessly till linev brought me to grief;"—ZoncJon Society. : i S '