COMMERCIAL.

Lyttelton Times, Volume XXII, Issue 1264, 16 July 1864, Page 4

COMMERCIAL.

Lyttelton Times Office, July 15, 1864,

Auckland.—The following is abridged from the Southern Cross, July 7th :—

It must be very gratifying to all alike to find that the scarcity of breadsluil's m this market Las been met by the arrival of several vessels recently, laden with this precious commodity, and jvhic'i lias had the effect of reducing the price of best Hour from £30 to £24 per ton; the latter being what it was quoted at yesterday. Flour is subject to fluctuations in price more than anything else; and we can quite understand that the high prices at which it was quoted hero at one time, viz., £30 and £35 per ton, have induced a speculation in it, and a supply which is more than equal to the demand for it. The consequence has been tliut with American and Australian arrivals the market has to some extent been glutted with flour, and we may say that we have heard it stated, on good authority, that there are five or six months' supply in the town, at the present time. We do not know whether this is the case or not, but the reduction that has taken place is evidently a proof that the supplies are more than equal to our present demands. Sow it is simply a question of whether, with the high price flour is now fetching in Australia, shipments to this port will continue, The news by the lost mail brought us this intelligence that the latest sale of flour at Adelaide ■was 100 tons Beeby's, at £27 per ton. At Melbourne, the Argus reports that " the rates for flour have been Well maintained, and considerable orders for the country districts have been executed at full current prices—say, £27 to £28." At Sydney, the Sydney Morning Herald says, " The mills quote silk-dressed at £28, and second quality at £26 per ton." At Otago, the Times says, " This article maintains its price of £:ii to £35 per ton." At Neleon, the Examiner says, "Mr. Jary quotes fine flour at £34 per ton." These are all the latest quotations. It is a local fluctuation that has occurred; and one that, however welcome it may be, has been induced by speculation, and is not regulated by the law of sujjply and demand, as applicable to the whole of the colonies; and on DO other basis could anything like a correct calculation be made. We are glad to tw-i: that the price is reduced; and it will be more will be more welcome to those who did not allow themselves to be persuaded against their reason that they were going to get an extraordinarily cheap loaf. If there is no reaction after the present reduction m the price of flour, we shall he still better pleased; but it is impossible to lose eight of the fact that this reduction will produce a corresponding decrease in the shipments to this port.

Wellington.—-Our files are to the 14th infltant, We take the following trade report from the Wellington Independent, of the 12th instant: —

Stocks in the hands of importers are not heavy as compared with the previous twelve months; but our city has been over-run for the last month with commercial travellers and representatives of large firms in Otago, forcing goods into this market at such prices as must leave a heavy loss either to the importer or consignor. This exercises an influence to a conlderablo extent in keeping prices so low, and our merchants cannot reduce their stocks bo rapidly as might bo looked for. The increased rates of interest at all the tanks here (caused by the great demand for money in the liome markets), will also tend to depress trade, and prevent many from entering into fresh purchases. Colonial Produce.—Flour has fallen about £8 per ton ernce our last advices, and wo quote for first quality £30 per ton. Colonial £26 to £28. . The Cattle Market has been totally inanimate. Owing to the absurd regulations of the various provincial councils respecting plcuro-pneumonia no trace of which has ever been perceived in this province—our exexport of livestock has entirely ceased, and store cattle are again likely to overrun the country. , _ . , , The supply of fat sheep has been equal to the demand, and some excellent fat wethers have been brought in from Vlatthpws' station at 20s to 52s each, the demand is howaver only alack, and prices remain unaltered. We auoto fftt cattle 4-£ d per lb; store ditto 40s to 60s j fat wetnore 6d per lb; storo ditto 12s to 13s; store owes tit to ; horses £12 to £30.