MELBOURNE.

Southland Times, Issue 1616, 6 August 1872, Page 2

MELBOURNE.

The Argu* of the 29th alt. reports : — In breadstuff's, a considerable amount of depression still prevaDs, though a slightly better feeling is beginning to be perceptible. Quotations for floor still stand at £15 10s to £15 15s, but only the most trifling parcels can be got rid of. We continue to quote wheat at 6s 3d to 6s 9d, according to quality, but we huve not heard of any sales. Oats are steady at 3s to 3s 2d for feeding, and up to 3s 4d is realised for milling. Maize commands 3s Id. Further sales of 1870 Kent hops are reported at Is 9d. Advices from home regarding the growing "crop, state that the weather has not been favorable, being too cold and wet, and there are reports of the fly doing damage. Should fine weather set in an improvement might be looked for. Old hops advanced 10s per cwt. Holders of sugars are stiffer to-day, owing to the very favorable tenor of advices. In private communications, dated London, 12th and 14th June, one writer states that a further and very considerable rise in prices had occurred, and a very extensive trade had been done during the week previous to the date of our communication, more so than had been the- case for years, several thousand tons having changed hands. Another correspondent writes, "judging by the statistical position of cane, and the prospects for the crops of beet 1872*3, I am led to the belief that the present high range of prices may continue to rule for many months, and very many think that these prices will last for the next twelve months. The falling off in the West India crops, first computed at 50,000 tons, has now, it is reported, assumed much larger This year's crop of beet, 1871-72, is fully 80,000 tons smaller than crop 1870-71, and stocks of cane sugar in Great Britain are now 50,000 tons less than last year." With such news holders naturally look for higher rates being obtained in this market likewise. Salt is assuming an improved aspect, the falling off in shipments, together with a further advance in the home market of fully 10 per cent., and the high cost of bags, being fact* which cannot iail to react favorably here. Candles have not been affected to any extent. Quotations, however, are well supported at 11 id to llfd. Stocks of coffee are well held, plantation being quoted at 9£d to lOd ; the advance here has not, however, been equal to the riße in the producing districts. We learn by late advices that the Eliza Firth was onher way from Singapore to Colombo, there to load a cargo of coffee for Melbourne, prepared for her for some time.