MELBOURNE.

Press, Volume XIV, Issue 1887, 3 May 1869, Page 2

MELBOURNE.

Little occurred in the market to-day to alter its tone. In breadstuffs there was literally nothing doing, both town buyers and country millers waiting the turn of events. No alteration was made in the quotations for flour. Good Bamples of Victorian wheat were worth 5s 6d, and inferior from 5s upwards. Oats were quoted at 3s 10d to 4s 2d, and maize from 4s lid to ss. In barley there was nothing doing ; but malting barley was asked for, and is worth 6s. There ie now no malt in first hands. A few trade sales were made to-day at 10e 6<U ; but the article is well held. In hops there was no change, but choice qualities are scarce. There was some small inquiry for candles ; for Brandon's yellow labels lid was refused. Kerosine was very firm. An offer of 2s 3d for a large mixed parcel of Devoe's and Cozzens's (consisting, however, most largely of Devoe's) was refused. The Sydney market, we believe, has been bought up. Of Java rioe, ex Thorkild, 100 tons were disposed of at prices which show an improvement on recent rates, bat which still leave a large loss to the shippers. In tobaccoes, we hear of the sale of a considerable parcel of half-pounds, at an improvement of quite a halfpenny per lb. Quicksilver is being more inquired for. The sugar market was tested by an auction sale, at which medium and brewing sugars went at very full rates, crystals maintaining their former value. By the Triton, which arrived to-day from Port Louis, we have Mauritius dates to the 10th ult. They state that a late telegram had been received from London, which reported a riae of £2 10s lin that market, consequent on the Cuban i insurrection ; sugars, consequently, were very firmly held in that market, and higher ratee were expected. Only one ship was loading, the Emilliene, which was taking cargo for the Victoria Sugar Company. The brig Odaliska, which lately arrived from Liverpool, changed hands at a price withheld. The prospectus lias been shown to us of a new banking institution which it is proposed to form in Melbourne, wilh the assistance of English capitalists. The liability is to be limited, and the capital.£l,ooo,ooo, with power to double it. The advancement of money on freehold securities and on cash credits is to form a special feature of the business of the new institution, which will also purchase or make advances on Government securities. The success of the monetary institutions established of late yeara in Melbourne would appear, to indicate that there is room for this proposed bank.—"Argus," April 22.