COMMERCIAL.

Lyttelton Times, Volume XXVI, Issue 1751, 27 July 1866, Page 2

COMMERCIAL.

The following is a return of the quantity of land sold in the various districts, at the Wnsto Land office, during tho week :-On July 23, Cliristclmrch district, 84 acres; Timaru, 60 j Lincoln, 20 j Ellesmcre, 822; Banks Peninsula, 60 ; Ashhurton, 100 j Wnitangi, 20. On July 2G, Timaru district, IGO acres; Lincoln, 2; Mnndevillo, 20 ; Kllesmere, 62; Banks Peninsula, 62; Malvern, 23, In all, 995 acres, realising £1990, TiMAntJ. The Herald, of July 25, reports : There was a good attendance of buyers yesterday at the auction sale of land, held by Messrs. H. J. LeCren and Co., at their rooms, Timaru. The first lot was a quarter-acre section of unimproved land, which realised £22. The next lot, another section of land of the same size, adjoining 'the former one, which fetched £27. The next lot was 147 acres of unimproved land, with small dwelling house, about three miles from Timaru, formerly in the occupation of ifesrs. Cookson and Webber. The property, after several bids had been made, was knocked down to Mr. John King for £660. LONDON WOOL REPORT.' May 31, 1866. (From the Home News, June-2.)

Notwithstanding the continued high price of money and the alarm created by the heavy failures in the banking and financial world, our market has up to date been supported with remarkable firmness at the average reduction as compared with the last sales of lsd to 2\i on the closing prices of the March sales. Perhaps, if the extreme prices paid in the early part of March were compared with those now ruling a much more serious decline must be quoted, and 3d to 4d on washed, and 2d to 2£d on greasy, would not more than cover the declension in quotations. Throughout the sales, up to thjs evening, our home buyers have acted with great caution and have bought very sparingly; we are indebted entirely to exporters for the satisfactory range of prices now established, and their active and continuous competition at each nights' sale resulting, up to the present time, in more than half of all the wool submitted falling to exporters, nearly all of whom are French; had prices been left to the home trade, the fall in wool would have been rnfet serious. Whether the operators for the continent can continue their purchases on the same liberal scale remains to be seen, but, if not,' there will yet be a fall of Id. to 2d., for the home trade are determined not to buy except at easier rates. The high rate of money, and the caution exercised in the north by bankers not granting facilities too liberally, has caused buyers to be very cautious. The dealers' operations are most insignificant, many of them up to date not having bought for the first three weeks as many bales as are occasionally taken by them at one night's sitting.

New Zealand wool has commanded more attention than any other description. The Rochdale buyers have taken freely of all wellgrown bluish free-handling wool, and Scotland has competed more freely for this than other sorts. The general condition of the clip has so far given satisfaction, and when some of the better brands, bright in colour and well stapled, are submitted, we expect very lively competition and full quotations. •The market 'is healthy, and a fair trade doing throughout the manufacturing districts, but it is necessary in times like the present that great caution be exercised, for the prospects of continental war, dear money, and restricted trade, may be productive of considerable decline in the hitherto large demand for woollen goods.

A certificate dated May 25, and signed by all the principal wool brokers runs as follows :—" We, the undersigned sworn brokers, hereby record our opinion that the process of dumping wool bales, previous to stowage, is not in any way injurious to the wool, and that the sale of the same is not in the slightest degree prejudiced by the said process, provided that no excessive force be applied, and that the pressing be effected with due regard to the original packing of the bales, whether vertical or horizontal." The Home News in a postcript dated June 1 says;—" Further banking and commercial firms having suspended since the out-going Marseilles mail, the markets for produce have continued in a very unsettled state, and the business done has been only for actual wants; the greater part of the importers refraining from offering goods at present. Some extensive arrivals of gold having taken place from America during the last two or .three days have given a firmer tone to business, and we close with rather a more cheerful tone. Morgan's British Trade Journal of June ,2 states:—Consols, which closed last month at 87, close this month at 86|, the range of fluctuations having been between 85 J and 87£. The demand for money is fully sustained at the Bank rate, and though the worst of the crisis has been passed, the process of recovery threatens to be slow. A complete collapse in values of several classes of securities has taken place upon the Stock Exchange. Bank and finance shares have been the most unfavourably affected. Alliance Bank has fallen £ 9; Agra and Masterman's, £23; Chartered Mercantile of India and China, £5 j Bank of Hindustan, China, and Japan, £8; and Oriental Bank, £i log. In Finance Companies, General Credits (£1 paid) have fallen to £1; International Financial (£5 paid) to £2 2s 6d ; London Financial (£2O paid) to £5; and Credit Foncier and Mobilier (£5 paid) to £2 2s 6d. The shares of the National Discount Company have fallen £2 ss, and of the Discount Corporation £2. In Colonial and Foreign Stocks a general fall has taken place ; United States, Egyptian, French, Italian, Mexican, Russian, Spanish, Passives, all exhibiting a heavy decline. The leading Railway Stocks are all lower, the average decline being about 2 per cent. In miscellaneous securities the shares of the National Steam Navigation Company have declined £5; Pacific Steam, £2los; Royal Mail Steam, £5 10s; and the West India and Pacific Steam, £3.

Subsoribora who do not rocoivo thoir copies of tho LytkUon Tium regularly through tho various Post Ofllcos, uro requested to comtnunicato at once with tho publisher. Cathedral Square, Ohristchurch, July 17. -■-'■■■ ii ...'

NOTICE TO SUBSCRIBERS.