COMMERCIAL.

Southland Times, Volume I, Issue 34, 18 August 1864, Page 4

COMMERCIAL.

In our last summary, we commented on the resumption of the railway works in this Province, and the consequent relief -which was being experienced by a large number of the unemployed workmen. To this, also, was owing a more healthy tone in our business circles, and less stringency in the money market. Tho works have continued in progress, and are now fast approaching completion. In the course of six weeks, it is expected that about seven miles of the Oreti, or Northern Railway, will be open for traffic — to which period our merchants look forward with eagerness, as likely to cause a brisk spring trade with the inland districts and with the Lake country. Tho expected opening up of a new and rich goldfield in that district is at present engaging much attention in this Province. On Friday last, a person named Campbell, formerly a resident in Invercargill, came into town with" a splendid sample of gold, weighing about 4lbs. Eighteen ounces of this gold was extracted from one paddock, and consists of beautiful and rich water- worn nuggets, of an almost uniform size. The gold appears to differ in quality and color from that found on any established goldfield, and it is fully expected that an important field will soon be opened up. At present, however, the prospector maintains the greatest reserve, and cannot be made to divulge even the whereabouts of the locahty. If it should turn out to be at aU in the district of the Lake Wakatipu, or even to the -west-ward of it, it is fully expected that Invercargill, from its situation, will command a large share of the trade. During the month quotations have, for tho most part, remained without change. The principal exception is flour, which has undergone a severe and rapid decline in price. In "our July summary, we noticed that best Adelaide brands had declined to the extent of £4 and £5 per ton, leaving the price nominally at £35. Wa have, however, to intimate quotations now at £33 for Adelaide ; but there being no really best Adelaide brands in our market, the price of that article would undoubtedly rule higher. Several -considerable consignments have come to hand from Lauhceston, Melbourne, and Adelaide, as well as a portion from coastwise ports, and our market at present is sufficiently supplied to meet

the' "demands -but "the price is very unsettled, and great stress is laid upon future advices from San Francisco and Valparaiso. The enterprise for the raising of the ill-fated - s.s. Scotia is being carried on; ' and J the 20th "_ in- : stant is fixed for the attempt being carried into ■■ execution. Several lighters have been dispatched to assist, and great numbers of barrels are being employed in floating her off thero'eks. ' : '■'■'• \"' We have to chronicle an almost uninterrupted continuance bf the most beautiful weather for the past month, clear and" dry sunshiny days -being succeeded by fine frosty nights; with brilliant moonshine.- The effect of fine weather here' ontrade generally is visible, as the 'roads and streets ' are rendered much more passable than they usually are after rain. We append 1 statements of the customs revenue for the month of July/and likewise of imports, exports, and customs revenue for • the past 3£ years, which will impart a thoroughly reliable idea of the trade and wealth of the Province from year to year. ' • The- Customs' Revenue for the quarter ending 30th June last, it will be observed; was '£9,614 19s. Bd, ; and for the month of July of the current quarter, £2,973 17s. 7d7 This average, we are glad to say, is being maintained even in times of unusual depression, and it is fully expected that matters will soon assume a more 'favorable aspect ' For the month, from 16th July to 16th August inclusive, the revenue was £3,125 '3s. 6d. For the month of August alone, to the 16th inst., the amount is £1,367 17s. 6d. Auction sales are now less numerous than they have been for the past two months — their frequency during which period militated Beriously against legitimate trading in every department. Latterly, the prices realized were very unsatisfactory. It is hoped that a more healthy retail trade will soon revive. Sales of property during the month have been almost nominal, and, even in the most favored situations, very httle has changed hands, although holders have been willing to mako large sacrifices for cash. We quote current rates as follows :— Floue.— Best Adelaide £31 to £32 ; other brands, £31 to £33. Oatmeal. — Scotch, 255. per cwt. Potatoes, £8 to £9 per ton. Rice, 255. per cwt. Bacon and Haais, lid. to Is. 2d. per lb. Buttee. — D. R. Cork, new, Is. l£d., old, 7d. to Bd. ; Tasmanian and Victorian, Is. 4d. Cheesb,|ls. to Is. lid. Sugae. — Middling yellow, £46 per ton ; white crystals, £56. Geneva, JDKZ, 14s. 6d. Beandy. — In bond. Marten's, lis. ; do., in case, 30s. Whisky, 4s. 6d. per gallon, in bond. Rum, 10 0.p., 4s. per gallon, in bond ; in cage, 14s. Ale. — (Bulk). Joul's, £10 per hhd., new brew • old brew, £7 per hhd. Bottled Ale and Pobtee, 14s. per do. Wiee (fencing), 17s. to 18. Galvanised Iron, English, 38s. to 40b. Do., Scotch, 365. Candles, full weights, Is. lid. Ja3is, Colonial, 12s. 6d. per dozen. Pickles, 12s. to 13s. Tobacco, tens, 2s. 6d. to 2s. 9d. Do., halves, 3s. to 4s. Do., aromatic, 4s. 6d. '«»