COMMERCIAL.

Lyttelton Times, Volume XVII, Issue 961, 25 January 1862, Page 4

COMMERCIAL.

•.: . CHRISTCHURCH. Messrs. Aiknian and Wilson have experienced during the past week an increased demand for town and suburban land and house property in Christchurch. They report sales as follows: 7 sections in Christchurch East, £210*3 ditto in the same place, £1 12 10s; small house and eighth-of-an-acre of land in Kilmore street,.i:2so; business premises in Cashel street .£3.15; 5 quarter-acre sections in St. Asaph street £500; several ditto ditto in new township of Hillsboi-ough, from jEI2 10s to £13 each; 85 acres of land on the Springs track, £510; 124 acres near the railway station, £3000. They also notice a good demand for horses and cattle; several usetul horses and niares broken to saddle fetched from £25 to £40 each- broken to saddle and harness, £22 to £45; draught two-years old, £42 10s; 2 yearling colts, £10 and £25; cows, £10 to £14; 41 head of young Stock for £234. , , Mr. H. E. Alport reports a two days' sale, on Wednesday and Thursday last, of merchandise, comprising American ■ doors, ironmongery, cutlery, brush ware, drapery, &c; the attendance was exceedingly good, and biddings brisk. Also, a brisk auction sale on Saturday last, at Christchurch market, of the following:—Pair working bull and bullock, £47'10s- 4 milch cows, £8 to £11 1 Is; 3 yearling heifers, £3 6s to £4 10s; 20 small pigs, 11s to 25s each- turkeys, 13s each; chickens, 3s to 5s per pair; cheese, ll|d to Is per lb; flour, 13s to 14s per 100 lbs; fresh butter, 10|d to lid per lb; onions, 3d to 4d per lb; chicken wheat, 4s 6d per bushel; to.tara shingles, 22s per 1000. London Wool Report—Nov. 23. The last series of sales for this year commenced on the 7th November, the declared arrivals to that date consisting of—Sydney, 14,875 bales; Port Philip, 8486 bales ; Adelaide, 1138 bales ; Van Diemen's Land, 744 bales ; New Zealand, 8286 bales ; Swan Kiver, 31 bales; Cape, 25,349 bales; and 10,000' bales held over and withdrawn ; total,; 68,909 bales. ,■■•''■' Since the close of the July-August series there has been a quiet trade in nearly all the manufacturing districts, the exceptions being those engaged on American contracts, chiefly running upon low wools ranging from 9d. to Is. 3d., and on English from Is. 3d. to Is. 6d.; little colonial wool being at present •used for their orders, and that chiefly New Zealand wool from Is. 3d. to Is. 6d. Our room is well attended, and, judging from the present feeling, nearly all the wool will be brought to the hammer, if present rates are maintained; nearly all the importers, being free sellers, wish- to clear, all old stock before Christmas—no doubt a wise resolve looking to the future, for it is nearly certain that the sales of March, 1862, will be very large, and without a better trade is.the result of present cheap prices, the present rates for wool will not be maintained next year, even supposing no fresh difficulties arise from the American war. ,•' There is nothing in the future very assuring: the financial difficulties of France, and the certainty of a large number of our operatives at Manchester, Leeds, &(\, being out of employ, may cause all prudent parties to hesitate, and a general feeling will exist after th<e present sales to quit all old stock at a small profit, and be prepared for the new clip, a matter not so easily effected without a rapid improvement in trade, for the quantity to be offered this series is larger than was ever before submitted at the same time of the year, and the year's import already shows an increase upon that of last year of fully 20,000 bales, and will, no question, should dullness continue in the Northern markets, leave many with larger stocks in_ the spring than could be wished or desired. —Home News. .. . iMONETABY AND CQMMEECIAL INTELLIGENCE. ~ The Bank of England directors have reduced discbunts from 3| to 3 per cent. The demand .for money since has been much brisker. Good bills: from 30 to 90 days' are now done at 2J per cent in Lombard streets. Consols for money, 94* to-945; ditto account, December 5, 92| to fl2|. „:■:-...:., .. - ■■■■ \;.^ '.. !i. •.'-:■; :•'. ■■■ Colonial Government Securities.—New South Wales, 5 per cent., 99 to 100. Victorian '6 per cent, April and October, 104J to 105. ' :. " The following are the closing prices given in the 'Home News'.-rrConsols, for money, 94 J to 94^; for the account (Dec.,s), 92| to 9|f. Bank,. Stock 231 to 233; Seduced and New Three per cents, 22^ to 925-; India Five per. Cents, 106f to 106|. , . ;• ; \ , Several of our minor colonial dependencies have availed themselves of the present, plethora'of capital to, raise money in the London market. On the 18th'instant., a loan'of £25,000 in 7 per cent debentures/for the purpose of carrying out harbour improvements at Auckland, New Zealand, was adjudicated. The minimum fixed was 105, at.which there were biddings for £12,000; tenders; were also sent in for £20,000 above that price, the highest offer being 108 J. The latter subscribers'have consequentlyreceived allotments in full, while the-applications at 105 experienced a pro rata. reduction. : . : During the month we have witnessed the bursting of another stupendous bubble,/bringing ruin to hundreds, and distress and : privation ;to multitudes of victims; Every reader of the Engnsh. papers must have noticed advertisements of the Bank of Deposit; manager, Peter Morrison; soliciting deposits, frpm : investors, and offering a uniform interest of 5 cent, even when the market value of capital has been only two-and-hatf per cent. Sumours of the precarious condition of the swindling concern; arid of the manner in which the money of the depositors had been hopelessly lost, got abroad some six months ago, and the rottenness of the institution was broadly hinted by the press. Some of the dupes, alarmed, quickly gave notice of withdrawal, and a few recovered their money. The pressure, however, soon brought matters to a crisis, arid suspension ensued. The report of the accountants •who were cajled in was published yesterday, and it reveals a system of fraud arid'villany which has seldom been exceeded. There is a deficiency of £309.550, whil the assets are not expected to reach more than £56,000. -