Commercial.

Press, Volume XIII, Issue 1717, 1 August 1868, Page 2

Commercial.

" Fkkfs " Office, August 1, IS6B The closing of the tunnel on the 3rJ ult., and the arrival of the Coleroou on the 11th are the only noteworthy features in the past month; commercially, there has been no life whatever, purchases hare merely been made from hand to mouth, an-i we can only look forward to the spring for any marked improvement. The weather daring the iastj fortnight has been unexeeptionablj fine ; the roads have become passable, allowing the fanners an opportunity of delivering the grain previously sold. On the 28 h ult. the tunnel was reopened having been closed twenty-four days ; the inconvenience caused to the community sit large by its being temporarily closed, fully proving tlio great. hent-UU derived troni thi» great tijough texpeosivo work. Great credit i* due to the present Executive for the energetic manner in ivhich they have acted in this matter. Six trains now run daily each w»y, instead cf four as formerly.

The petition forwarded by the traders of Christchurch to the General Assembly, praying that the clause in the Debtors Act may be altered, to enable debtors lo be imprisoned for sums of -iO* instead of £10 as at prssent specified, lias been thrown ouc through an informality in tuesignaturrs ; an attempt »m made to allow it tobe .brought iv in a dilferent form, but tlie Hori. 3. \W}\ who %\& t!i.i:-e

of it, declined to avail h'ttself of the offer, stating that he did not agree with ite object. Stocks recently have become veiy much reduced, and T most lines have been easily quitted, but from the large number of vessels laid on in London for this province we may anticipate heavy additions to our present supplies ; should the total tonnage of these vessels be any guide, we can only look forward to our market being again glutted with general merchandize.

The news from the Auckland goldSelds continues to be of an encouraging nature, and migrations thither of those out of employment from this province ere very numerous.

Money is plentiful, and discounts for firstclass paper very easy; the rates for discount at present are :— Under 65 days, 7 per c«nt. Under 95 days, 8 per cent. Under 125 days, 9 per cent.

Exchange on London :—For 60 days 1 per cent- ; for 30 days, 1£ per cent. ; sight, 2\ per cent. Breadstuff's —Wheat has receded 6d per bushel since the commencement of the month, advices from Australia having had a depressing effect on this market. Few sa ;iples are offering, as the old wheat is nearly all out of producers hands, so that a further decline to any extent is hardly probable, at any rate until the new crops are sufficiently forward to give some idea as to their ultimate yield; 6s 9d to 7s per bushel is currently asked for good samples. In flour a quiet trade has been done for home consumption, £19 to £21 being freely given. Oate have fluctuated in value, having once reached 2s 4d per bushel, but 2» is now obtained with difficulty except f.>r prime samples Barley for the most part has been a drug, but latterly a slight, improvement bae been visible, and 4s is now asked ; large quantities, however, are on hand, and we duubt whether present prices will be maintained.

Spirits —Hennessy's and Martell's pale and dark brandy is very scarce, and fetches extreme rates ; a slight reinforcement has arrived ex Coleroon but prices are not effected. Hennessy's pale and dark brandy in bulk may be quoted at 9s 6d to 10s in bond ; case brandy from 32* to 345. Whiskey is in demand, and fetches 6s 9d to 7e 6d. Rum is low in stock and easily quitted at. 5s 9d to 6s 6d. A S'nall parcel of geneva has been landed, which is eagerly sought for and extreme prices given Wines —A fair trade has been done in medium and low ports; but sherry i* neglected, stocks being excessive. In light wines absolutely nothing is doing, their consumption being entirely confined to the eummpr months.

Ale and Stout—Ales and stouts in glass are far beyond our requirements, the market being, quite glutted ; what few transactions have taken place were at a figure that will entail a lose to the importers. Ale and stout in bulk is hardly so bad, but the superior quality of colonial manufactures ie fast closing this market to the imported article. Sugar—Sugars are in excellent request, and an advance has taken place during the month a large parcel of yellows is to be put up to publi: competition next week, when good prices are expected to be-realised ; crushed lraf is wanted, and may be quoted at £63 to £65 ; white crystals are very active, and have touched £54 10s.

Tea —A profitable trade has been done in all qualities ; souchong being worth 3e 3d ; orange pekoe 3a 6d to 3s 9d ; gunpowder 3b 6d to 3b 9d ; congou 2s 6d to 2s Bd.

Cornsacfes —The arrival of heavy shipments and the limited transactions in grain, has caused a decided decline ; parcels are offering at 15s to 15j 6d, without response.

Candles are dull of sale, the large parcels recently imported and the low price of kerosine more than counterbalancing the winter consumption. Salt —No shipments have been received, and values are'fully maintained; fine salt sells readily at £6 15s to £7; coarse at £5 5s to £5 15s.

; Provisions—Nothing to speak of is being done, i-tocks are heavy, with little likelihood of improvement.

Currants are not held largely and a fair price is obtained.

In conls a temporary rise took place consequent on the closing of the tunnel, but now it hue been reopened prices have receded to previous quotations ; heavy shipments are advertised , to arrive, and a good supply may be shortly expected.

The amount received at the Custom-house, Christchurch, on July 30, was £48 15s 6d, consisting of—Spirits £46 9e 8d j cigars Is 6d; apparel 8s 4d; bagging £1 16a.

The amount received at the Custom-house* Lyttelton, on same day was £6 7s Id, consist ins of—Spirits £5 12a lid; light dues 14s 2d.

Th« amount received at the Custom-house, Chrisfchurch, on July 31, was £35 15e sd. consisting of—Sweet gin £11 2s 6d ; hats £8 7s 9d; wine £5 12s j drapery £9 15s 2d ; light dues Bs.

The amount received at the Cuetom-houee, Lyttelton, on enma day whs £144 14s 3d. consisting of—spirits £86 Iβ lid ; wine £33 16s; tobacco £98 11s lid ; tea £12 6s 4d ; light dues Iβ 4d ; sale of forms Ss.