COMMERCIAL.

Lyttelton Times, Volume XX, Issue 1111, 4 July 1863, Page 4

COMMERCIAL.

THE TENDERS FOR THE FIRST ISSUE OF DEBENTURES UNDER THE CANTERBURY LOAN ORDINANCE, 1802. On "Wednesday, the Ist July instant, the Superintendent and the members of the Executive Council met at 1 p.m., in the Provincial Council Chamber, at the Government Buildings for the purpose of opening the tenders for the first portion of the Canterbury Loan, in compliance with the terms of the advertisement which has appeared in the public journals. The Provincial Treasurer and tlie Provincial Auditor were also present. . The minimum price fixed by the Government and laid on the table under seal, was £101^. The following tenders were then opened 1. J. Whiteliill Stevens, £4000, at £1 premium. 2. The Bank of New Zealand, £100,000, at par. The above tenders not being equal to the price fixed by the Government were accordingly declined. A resolution was then passed by the Executive to the effect that no further action should be taken with regard to subsequent offers until the arrival of the mails now shortly expected from Australia and the Northern Ports of New Zealand. . , „ We learn that a subsequent offer was received trom Messrs. Peacock and Co. for £10,000, at the minimum fixed by the Government. This, we understand, has been declined as coming after the advertised time. CANTERBURY CHAMBER OF COMMERCE. A meeting of the Chamber of Commerce was held at Messrs. Deßourbel and Co.'s rooms, Christehurch, on Thursdav last. Present — Messrs. Miles, Ritchie, Deßourbel, Macpherson, Day, Peacock, Turner, Richardson, Buckley, and the Chairman. The minutes of the last meeting were read and confirmed. A letter was read from the Wellington Chamber of Commerce on the subject of postal communication with Australia; also the sub-committee's report thereon. The following resolutions were carried: — " That the secretary be requested to communicate with the acting Postmaster-General, pointing out the serious inconvenience which has arisen through the irregular conveyance of the mails of this province from Melbourne, and to request that he will authorise the PostmasterGeneral in Melbourne to subsidise any steamer that may be on the berth in Melbourne to bring down the mail in the event of Messrs. McMeckan, Blackwood & Co., having no steamer ready at the time to take the mail, and drawing the Postmaster's-General's attention to the last part of clause 7 of the mail contract with the above firm, and that a copy of the letter to the Postmaster-General respecting Australian mail service be forwarded to the Wellington Chamber in reply to their letter on the subject. " That in the opinion of this committee a flagstaff should be erected at Godley Head, and connected by telegraph ■with the station at Lyttelton, so that vessels and steamers may be signalled approaching and entering the heads, and that a copy of this resolution be forwarded to the Provincial Secretary. " That a sub-committee composed of the following members Messrs. Ollivier, Day, Macpherson, Turner, Miles, Hamilton, and Buckley be appointed to take into consideration and report upon the alterations required in the customs business between Lyttelton and Christchurch. "That a special general meeting of the Chamber be (summoned for the 30th of July, to take into consideration the report of tha Lyttelton Harbor Commission. " That Messrs. Buckley, Reeves, Gould, Curtis, Ritchie, Macpherson and Peacock form a sub-committee to draw up the annual report." Duty collected at the Port of Lyttelton for the month June, 1863. £ s. d. Spirits ... ... ... 2,231 18 1 Tobacco and Cigars ... ... ... 478 16 0 Wine ... 407 18 6 Tea 276 8 8 Coffee 27 7 6 Sugar... ... ... ... ... 360 5 11 Ale and Beer in bottl* ... 99 9 0 Ditto in wood ... ... ... ... 401 12 0 Measurement, 4s per foot ... ... 1,081 0 0 3s per cwt ... ... ... ... 223 19 11 Firearms ... ... ... ... 15 0 Gunpowder ... ... ... ... 02 0 £5,590 2 7 DUNEDIN. The Prince of Wales, with another general cargo, has added to the supplies received ex Coldstream. These shipments, together with others from Melbourne, must necessarily depress prices at a time when business is universally admitted to be extremely dull. It is true these direct shipments establish a principle we have all along advocated, but they must be brought into competition with Melbourne supplies to this market. Viewing the question in an abstract sense, to make this city an entrepot to supply the New Zealand markets, Melbourne prices to a great extent will have to be submitted to with the addition of duties according to our tariff; importers ultimately must adopt this view, and the sooner they admit the principle the better.

Advices by the overland mail are important as respects this province. The mercantile mind is at last aroused in favor of this colony and its resources occupy a considerable degree of attention. The last direct shipments of gold, and the general information furnished, must create an enthusiasm in our favor, which will react in a remarkable manner. There is a palpable increase of shipping to this port, the prelude to a general supply for this market calculated to diminish intercolonial imports. It is gratifying to notice a decrease in shipments to the market from whence we have hitherto drawn our chief supplies. The wool market discloses a further probable decline.

The latest city intelligence annonnces a prospectus of a new bank, to be named the Bank of Otago, thus making this city the head quarters. Branches will be distributed over other portions of New Zealand. The capital will be half a million, in £100 shares. It is desirable a portion should be reserved for this market, and that our mercantile community should have a direct interest in this new undertaking which doubtless will be launched on an approved basis of the most recent improved banking system. The directors already named are intimately associated with the Australian colonies, and are gentlemen of repute and standing.

The market is, at present, at a low ebb, and prices of many descriptions of goods are declining. Supplies of good brandies have come to hand; and Martell's has been sold as low as 13s per gallon for qr-casks. Flour is very inactive; and we hear of a parcel of Californian having been sold as low as £14. Beer, in bulk, is falling low; but is going into first hands, which will steady the price. Dried Fruits command more attention in the home markets, and are likely, with the advance in prices, to receive an enhancement in value here.

Horsefeed maintains a good market value, and from foreign prices cannot be placed in this market under our last quotations; and there is no fear of any decline, on the contrary, we consider the market very firm for oats. Maize, certainly, is coming forward freely of the new crop; this has been anticipated. Cartage—£l6 to the Dunstan ; £35 to the Lake; £9 to Wetherstones—only partial assortments going forward.— Daily Times, June 27. DUNEDIN LIVE STOCK MARKET. Driver, Maclean and Co.'s Report for the week ending 22nd June:— Fat Stock. —The market is fairly supplied with beef and mutton of very good quality. By the Alice Thomdike, from Gipps Land, we are in receipt of 60 head very prime cattle. The first draft we have sold at our yards at an average of £28 10s per head. We quote middling bullocks at £22 to £25; inferior ditto, £7 to £19. Calves, very scarce, at £4 10s to £7. Prime wethers, at 38s to 425; ordinary, 32s to 355. Store Stock.—Strong well bred cattle, from three to six years old, are in active demand at from £11 10s to £13; mixed herds, at from £10 10s to £11 10s. Sheep (both ewes and wethers) are much inquired after, with none offering for sale. We have sold 1500 ewes, from 2-tooth to full mouth, at 32s ; 500 2-tooth wethers at 26s 6d; also, 200 pure Saxony ram lambs at £5 10s each, bred by Messrs. E. A. and R. Julius, Bugged Ridges, Waitaki. We quote —Ewes, 2, 4, and 6-tooth (in lamb) at 355; wethers, 4to 6-tooth, at 27s to 365; lambs (mixed sexes), 21s to 235.

Horses.—The consignments per Emma Prescott and Bella Vista, from Hobart Town, have been offered at our yards, and most of them disposed of at tolerably fair prices. Importers of the horses by the above vessels exhibited great judgement in their selection, as they were in every respect suitable to the requirements of this province, and would at any other time have commanded most excellent prices. The fact is, that prices for every description of horses have considerably receded, with the exception of the young sound hackney, which is scarce and in great demand; consequently, commands excellent prices. The rates for the week are—First-class draught horses, from £75 to £95; medium ditto, £46 to £05; inferior ditto, £25 to £35; superior light harness horses, from £55 to £75; medium ditto, £35 to £45; inferior ditto, £8 to £10.—Ibid.