SYDNEY.

Press, Volume XIII, Issue 1717, 25 August 1868, Page 2

SYDNEY.

In it* monflily tiomirercial repttt unSer date August the 12th, die Sydney "Empire" At the date of our last eamaiajT, the °° m ' mencemont of the second half-year, end s peculiar season of inactirity, combined to produce s> stagnation in every branch of trade. Perhaps the most interesting featnre of the month is the satisfactory result which, in almost OTery Instance, characterised the half* yearly meetings of the various commercial companies of New South Wales. Amongst these, as appertaining more particularly to the manufacturing and producing interests, may be mentioned the meetings of the Bulli Coal Company, the Wallsend Coal Company, the Peak Down* Copper Mining Company, the Australian Paper Coinpanr, the Western Kerosene Company, tho Hartley Kerosene Company, tho Fitzroy Ironworks Company. £esh of these companies appear to be progressing as farorably us maybe desired, and come exhibit upon the balance-sheets returns of a very encouraging character* The halfyearly meeting of the various banks, insurance, and steam companies, hare also been held, with generally satisfactory results. The progress of sugar' plantation and manufacture is also a noticeable fact. An association, called the Clarence Sugar Manufacturing l Association has been formed during the .moEth at-jflrafton, with prospects. This association will begin a career of usefulness with a capital of £1600 already subscribed, and three hundred and thirty shares paid for. It is also stated that a new sugar company has made arrangements to «rect a sugar mill at Froderickton, and that the fanners in that locality arc preparing for the extensive culture of sugar cane. At Port Maequarrie, the frost season it is reported is over, and that upon every plantation the crops hare not only been uninjured, but are very promising for the September harvest. * * An improvement in the atock and share market has been pretty general in the past month, and a feeling of confidence in]

future prospects continue to gain ground. Without any large amount of boaineee, transactions hare not the preponderance of buyers, and prices exhibit an advance. The considerable fall in wheat and flour, from superabundant supply, is a good boon to the community, and in a monetary point of view has the effect of leading capital into other pursuits and investments. The internal flour trade, in fact, has become for a time a limited cash; business, supplies being purchased only for immediate requirement, and holders being confined to fine hands. Bank discounts remaim at 5, 6, and 7 per cent, for three, four and over four months , bills, and exchange on London for bank drafts, f premium. The supply of money exceeds demand, and the four per cent, deposit rate of interest weighs oppressively on the banks. Government and Sydney Corporation debentures have been in short Bupplv, and command, full rates.. The "Half-yearly "meetings of local companies have generally shown favorable results. In banks we note an improvement on the month—in Bank of New South Wales of 30s to £2 ; in Commercial, of £3, taking the dividend into account j in City Bank of 6s. The Australian Joint Stock Bank has made a return of £1 per share capital, and paid no dividend for the half-year. ;In Australasian Steam shares there is an improvement of £3, including the dividend. Pbicb o* Whbit nr Ekgland.—The " Pall Mall Gazette/* speaking of the" prospects of a good crop in England and the Continent Baye :_«For 1864 the average was 4gsJ&>frer quarter; for 1865, 41s 10d per queftef; for 1866, 49s lid per quarter ; and for 1867, 64s 5d per quarter. For the current year it can scarcely lie less than 65s or 66s per quarter, even with the decline in prices which may be regarded as almost inevitable.