Commercial.

Press, Volume XVI, Issue 2164, 25 March 1870, Page 3

Commercial.

Messrs E. Mitchell and Co. report for the week ending Wednesday, March 23 :—The sales for the past week have been well attended by country buyers, and the enquiries for good store cattle numerous. The prices obtained on the whole must have been eatiefuctory to the seller. Wo have cold rakes (vrennerp) at £2 12s6d ; heifera springing to raWe, at £7 5s to £7 15s ; two year-old steere, £5 15s ; three and four-year old do, £7 12* 6d ; also a email lot of twouty-three bullocks at £8. Horsee—Hacke and light harness horses from £8 15? to £18; heavy draught colts and tiilies from £25 to £30. Dr/NEDIN—The "My Times "of March 22, in its monthly summary reports :—The dull and unsatisfactory etate of things prevailing at the date of our last notice has since given way to a rather better condition of business, though the progress in Jhe direction of improvement has not been sufficient to allow of a very favourable report of Ihe business of this month just closed. With the exception of one or two intervale, when enquiry received a slight stimulus, the operations going forward have not extended beyond the supply of current requirements, and in the import market have generally been limited and uninteresting, while coastwise trade has continued light in amount. Proepects are now, however, more encouraging, and a steadier local business is again setting in. The stocks in the country districts have latterly been kept very low ; there will now be experienced a demand for a.l descriptipae of wintar supplies, and a marked improvement in all departments of trade may be reasonably expected during the coming month. In the face of the prevailing quietness, market rates have not suffered ; the advices to hand by last mails scarcely affected prices, and nearly all the staples may be referred to as standing at well maintained rates. Imports continue moderate, and stocks are not now accumulating. Since the 24th ult., the arrivals from British and foreign ports have been the ships William Lindsay, from London ; Casma, from Liverpool ; Jessie Headman, from Glasgow ; and A. A. Drebert, from Boston, United States. Our recent exports have baen almos wholly of wools and flax; the new grain is not yet making any figure in the shipments going forward, and immediate activity in thie respect is not anticipated. The rapidly increasing shipments of flax merit special notice. The article haa become of great importance, and throughout the province capital and labor are likely in future to be largely employed in its preparation. In alluding last month to the numerous failures which had occurred among traders, both in the city and other parts of the province, the belief was expressed that but little more in the way of commercial derangement would be experienced. The expectation has been ~ realised ; confidence is fast returning, and no real uneasiness is felt as to future trade. The money market continues without any alteration, and, as before, good eecurities command favorable terms The Bant rates of discount have not varied, and exchanges close, viz., celling rates on London at three days' eight;, 2 per cent premium ; 30 days' sight, 2* per cent premium ; 60 days' .mhf 1 nf»r r»ent. oremium : on Melbourne, \ per cent premium ; ana on oyuuuy huu mo other Australian colonies, 1 per cent premium.