SYDNEY.

Lyttelton Times, Volume IV, Issue 226, 30 December 1854, Page 5

SYDNEY.

MERCANTILE EEVIEW. (From the Sydney Mercantile Journal and Shipping Register, Dec. 1, 1854J We hare nothing new to notice since our last, and the markets continue in the most depressed condition, with no prospect of improvement, as there appears to be no disposition to cease importations. The Banks have'lowered their bills to 4 per cent, premium, which may check the export of sovereigns. Business generally appears to be at a standstill, and the only method of quitting goods is by auction, and submitting to the most ruinous sacrifice of property. House and store rents continue very high, but they must come down, as no business can pay the enormous rents now demanded. It, is a matter of congratulation that the labour market is receiving considerable accessions, which have slightly affected wages in some branches of industry, but suitable labourers are immediately employed, with a craving desire for more. The Import Trade is in as bad a state as it well can be, but all articles of export are realising the most satisfactory rates, and as there has been a failure of crops in most parts of the colony, owing to the want of timely rains, every product is expected to rule high, and should flour, wheat, and hay, cease to be imported, extreme prices may be"expected. There is no alteration in discounts at present, and it is said that money is easier. Ale and Beer in wood is still scarce, and best brands would fetch £8 to £8 10s. readily. Bottled ale is improving, and considerable parcels have been purchased for the country, but the stock on hand is too large to prevent any reaction in prices. The importations of malt liquors in Nov., 1853, ramounted to £29,583; during the past month it has been £26,263. Bottled porter is is request, but the stock is very large. Draught porter is not so saleable as sound ale. Building Materials—Tongued and grooved boards and planed boards are in good request, and leave a very good profit. We believe this market generally to be firmer, and as labour is becoming more, plentiful, we look for a further improvement. OnEusii—Good cheese is in much request, and will pay a good return, but it must be good, as there is a large quantity of inferior in the market. Earthknware—These articles, with many others of a bulky nature, are only saleable at auction, at which dealers supply themselves at their own prices, and in numberless instances there will be a total loss, particularly where the goods are unsuitable. The importation for many months past have been much in excess of our requirements. The heavy storage expenses ruling for the last twelve months had prevented importers from holding, but nowas there is a reduction in these rates, we beiieve some parties %: -.are determined to hold for a reaction, which wUist take place. The importation for the month of November, 1853, was £5000; in 1844, £6497. . Flour—This market remains very firm, and the continued importations keepthe prices from advancing-. The reports horn the interior state

that the crops have generally failed, and that the yield will not be more than one quarter of the amount required, so that we shall be dependant upon our neighbours and foreign supplies. We consider good sound flour will leave a handsome profit to importers until next season, by which time our agricultural districts will be enlarged, and an increased of land put under wheat. Ihonmongehy—The importations are enormous, and the stocks are very large. There is a very fair demand for the country, but the trade is completely overstocked, and invoices cannot be placed except at a discount.

Potatoes—These are realizing very extreme rates, and may be quoted at from 20s. to 245. There is a large demand for the Melbourne market.

Sugar—There is a downward tendency in the market, and prices have given way during the last fortnight very considerably. The old Sugar Company has advertised its stock for sale on the 13ih instant, consisting of about 2750 tons; and as this concern is desirous to close accounts, the market is not expected to rally till after that period. The trade are holding off, and await to supply themselves at this sale. Imports for November, 1853, 16 tons, 9458 cwt., and 15,359 bags; in 1854, the quantity was 199 tons, 4706 bags, 33 casks, 17,100 cwt.

Whkat—The quantity of wheat coming to market is very limited as yet, and realizes an extreme figure, say 145., and there appears no prospect of" any reduction in consequence of the failure of the crops. A fine sample of wheat was imported from the Chatham Isles last week, which excited a pood deal of attention ; it is a small plump grain, and was offered at auction, but bought in. It was afterwards placed privately at 13s. 9d.