OTAGO

West Coast Times, Issue 626, 26 September 1867, Page 2

OTAGO

The "Daily Tinies," of the 20th instant reports as follows : —

Since our last report trade has improved in a slight degree, and the sales making, though moderate in amount, have been more frequent. The market, however, still posscssess a quiet appearance. For country requirements ami for coasting trade account an average business in the execution of miscellaneous orders has gone forward ; but transactions of any magnitude have been infrequent, and no operations for speculative ends have como under notice. Stocks of most staples are moderate, and imports arriving light; prices have in consequence been nearly stationary, and in general not wanting hi firmness, though some few items are accumulating, and only command sale to any exient at reduced rates. Credit is well sustained, and an unimpaired feeling of confidence exists in all branches of commerce. In the money market, which remains easy, no change has been experienced. Rates of discount are at 8 per cent, for under ninety-five days, and at 9 per cent, for over that term. Exchanges — The Banks is. c ue upon London, at three days' sight, 2 per cent. ; at thirty days' , sight, li per cent. ; at sixty days' sight, 1 per cent. On Melbourne, k per cent. ; and on Sydney and the other Australian colonies, 1 per cent. In breadstuffs the business has entirely been confined to sales for provincial consumption, shipments of flour or wheat to a distance or to other provinces having ceased. The business done in imported flour keeps very small (one transaction excoptod, of about thirty tons, which changed hands), a few tons of Adelaide supplying all the inquiry experienced for the best obtainable article ; the prices realised leave scarcely any margin. Except for a few trifling shipments to the West Coast there has been nothing done in oats over and above the busiuess for local requirements. There seems at present no disposition to speculate upon a bettor demand taking place, or probability of relief from the depressing influence exercised upon all the articles undor these •heads. Values are — South Australian flour, Ll4 ; provincial, LlO 10s ; oatmeal, Ll9 to L2O ; wheat, 4s ; barky, 4s 6d j oats, 2s 8d to 2s 9J ; brau, Is ; new Patna rice, L 29 10s ; pressed chaff, L 6 10s.