COMMERCIAL.

Lyttelton Times, Volume XXIV, Issue 1440, 24 July 1865, Page 2

COMMERCIAL.

Otago.—The Daily Times of the 21st inst. reports:— Tho day's business has been rather quieter than that of yesterday, but still not dull, a good deal o inquiry being made for particular goods, chiefly for shipment. Not very much has been done in the flour market, transactions being limited to town trade parcels; the rates are, however, firmly maintained. Provisions of all kinds are readily saleable, but the quantities coming forward at the present moment arc light. In bottled ales and beers, though overburthened with stock, holders will not give way to a sufficient extent to allow of any speculative operations. Melbourne.—The Argus of July 15th reports *. — A considerable degree of disappointment has been experienced in commercial circles by the nonarrival of the Jeddo, which, up to beyond business hours, had not made her appearance. Little requiring special notice has transpired in the import markets, sales having been chiefly confined to the supply of trade requirements. Breadstuffs continue to command a good deal of attention. Sales of Adelaide flour have not been large, but much more numerous, than of late. Parcels of five to fifteen tons hare been quitted at £21 Ss for country brands, to £21 15 for best town qualities. We also understand that the Maggie Leslie's shipment of 1000 barrels American changed hands in one line, on terms kept strictly private. No transactions in wheat that could be given as a fair test of the market have been made public. In teas, incieased activity is perceptible; sales of common to good common congous are reported, at Is 3d to Is 4£d for half-chests, in bona, and at Is 7d for good mediums, also in bond. Lon£ leaf orange pekoe has been placed at 2s. The following are the opening settlements of now teas at Foo-Chow for the London market, referred to in this morning's issue " Finest qualities active, inferior a little dull. Fair to medium, 1760 chests, 1840 halves, 27 taels, equal to Is 10d here ; medium to good, 4500 chestH, 4250 half-chests, 30 taels, or Is here; good to fine kaisow, 15,700 chests, and 7000 halves, 32 taels, or 2s Id here; fine to finest kaisow, 6400 chests, 1000 halves, 36 taels,

or 8* 3}d hew; fine to finest petting, 6400 chests, and £700 halves, 87 taels, or 8s 4ia here." Salt, both'ooarae and fine, has been disposed of, in parcels, at £3 16s. We hear of crystals of soda having ' been placed at £11 15s. A shipment of 300 tons English coals has beon sold at 82s 6d.in the bay. A small parcel of Calcutta lines realised £41. Sales of good old Cork butter have been effeotcd at 9d. An offer of 2s 4Jd for a •considerable pared of quicksilver was refused. For rico an extensive) demand has sprung up, and some four or five fifty-ton parcels have boon placed at an advance on lato sales; in some instances £2410 a has been paid, but wo are informed that holders now ask £26. A parcel of fifteen hogsheads and thirty quarters thirty por cent. o.p. rum was disposed of at a fVill figure. For trado lots 8s 9d to 4s is the current price. Sales of Guinness' stout have beon made at 10s 1 Jd; Machon's has boon quitted at 9s 9d. We hear of a shipment of 1,000 boxes foreign candles h&vingohungedhands, in bond, at a price withhold. Hennessy's case brandy has been sold at 295. At auotion sugar continues to be disposed of lareoly. Out of 5,818 bags offered to-day 4,900 bags were placed. Amongst the arrivals to-day we note that of the Carioca from Chili, with breadstuff's.

Mauritius.—Messrs. Scott aud Co.'s price current, dated June 5, states as follows:—

The P. and 0. steamer Bombay, bound to Guile with the Australian homeward mails of April, having broken her sorew shaft a few days after leaving King George's Sound, arrived here under tail on 21st ultimo, and, after being repaired, left lor Aden on the 29th. _ , Sugar.—Transactions have been very limited, as is usual at this period of the year. A few purchases of grey refining have been made for England, at prices ranging fVom §4.75 to $4.85 per 100 lbs. for No. 12, and a lot of about 0000 bags mixed grey syrops has been placed at $2.90 per 100 lbs For Australia a few purchases have made at $3.60. at $4,00 per 100 lbs. for rations, and up to $6.25 at §5.50 For good and fine yellows. Since the arival of the mail, on 28th ultimo, there have been no transactions, but sellers ask a slight advanoe. Very little sugar, however, now remains for sale.

LONDON WOOL KEPOET.—MAY 26. This important series of sales commenced on the 11th of May, the arrivals to that date consisting of 22,092 bales, Sydney; 78,879 bales, Port Phillip; 4468 bales, Van Diemen's Land; 26,341 bales, Adelaide; 13,619 bales, New Zealand; 2429 bales, Swan River; 20,906 be'es, Cape; total, 168,724 bales. The attendance of buyers, both home and foreign, was fully equal to expectations, and the prices paid the first day's sales were about Id to l£d below the average of the dearer part of last sales, or about equal to the few cheapest days' sale towards the end of the March series, if any difference (and opinions were various on this question), it might be quoted a shade in favour of buyers. The sales have continued to date well supported; all good and faultless wools commanding most attention, and the most spirited bidding on the part of exporters, who have bought heavily at each night's sale—taking, it is computed to date nearly half of the whole quantity offered. Faulty and inferior sorts, particularly wasty, meaty, and burry fleece, are in less request .and the biddings made for these sorts are without spirit. The home trade have shown at present little disposition to purchase, and without exporters can continue their large operations, prices must rule lower. The large staplers seem determined not to stock at present quotations. The large quantity yet to be submitted, and the anticipated arrivals for August series, will no doubt assist their views. The following is Dalgety & Co.'s circular, dated London, 25th May, 1865. The second series of public sales of colonial wool commenced on the 11th instant. The quantities announced and catalogued to this day are as follows:— Arrived. Catalogued. 22,092 Australian ... ... 6,576 78,879 Victorian ... ... 23,461 4,458 Tasmanian ... ... 2,210 26,341 South Australian ... 11,729 13,619 New Zealand ... 2,518 2,429 Swan River 20,906 Cape of Good Hope ... 9,385 B. 168,724 B. 55,879 The quantity of wool for sale is very much in excess of that ever offered before at this season, and prices have declined in consequence. On Victorian wool we quote a reduction of nearly Id per lb., on good, healthy, washed, combing fleeces; and l£d to 2£d on faulty, seedy wools, of which there is again a large proportion. Greasy wools have suffered to a similar extent, and scoured fleece, though not plentiful, is selling at lower rates. New South Wales wools have declined about Id per lb, and where faulty sell very indifferently. Adelaide wools |d to Id on good flocks, and somewhat more on lower descriptions. Tasmanian are in small supply, but show a reduction of ald to per lb on the prices of last May r the conditions as to seeds- and prickles is generally unsatisfactory. Of New Zealand but little has yet been offered, but they are quoted £d to Id lower, There is a very large proportion of greasy wool, and the demand is rather languid. Lambs' wool continues to sell at low rates, and the reduction, as compared with last year, is very considerable. The foreign demand has been good hitherto, and the home trade is healthy and to'erablv active, while money is at a moderate interest and the prospects of harvest are good. It is expected that the present series will last until about the 25th proximo, and by next mail we shall be in a position to report on them. LATEST ENGLISH COMMERCIAL NEWS. (From the Times, May 26.) The Bank of England to-day have lowered their rate of discount from 4£ per cent., at which it has stood during the past three weeks, to 4 per cent. At the time when the advance to 4£ per cent, was decided upon, it was seen that the circumstances which induced that movement seemed to be of a purely exceptional character, and that the real tendency of the market, so far as it could be influenced by the natural course of our commercial exhanges, was toward a continuance of comparative ease. An early return to 4 per cent, was therefore generally relied upon, and the weekly statement published this evening shows that the time for it nad arrived. The discount establishments and joint-stock and other banks have made a corresponding reduction in their rates of allowance for money at call and on deposit. The former give 3 per cent, at call, 34 at seven days' notice, and 3£ at 14 days'. The banks allow 3 per cent, for deposits. There was a tull average discount demand today at the bank at the reduced rate. The English funds this morning opened with a good appearance at a further advance of an eighth, tne first price of consols for delivery being 90 J to f. This being Ascension Day, the Bank Court did not meet until two o'clock, and it was therefore only a short time before the official close that the notification was received of the alteration in the rate of discount. The market then showed increased strength, and the final bargains were at OOJ for money and 89 J- to f ex dividend for the Bth of June. The announcement of fresh mercantile failures in connexion with Bombay had apparently no material influence. Bank stock' left off at 240 to 242; Reduced and New Three per Cents., 88$; Indian Stock, 215 to 218; India Five per Cents., 106$ to J; Rupee paper, 100 to 101 and 107 to 109; India Bonds, 14s to 19s pm., and Exchequer-bills, 2s. to 6s pm. The suspension has been announced to-day of Messrs. Rimington, Cartwrigbt and Co., of London, correspondents of Messrs. Leckie and Co., of Bombay. The liabilities are stated to bo £200,000, and it is understood that the partners rely that the assets will yield a surplus of £70,000. According to the last advices from Bombay, it was found almost impossible to obtain advances on any descriptions of goods or securities, and hence, in their uncertainty as to the date and extent of the future remittances they may receive, the London firm, although they hold means by which they might have gone ou for some time longer, hare deemed it right, for the equal protection of all their creditors, to place their estate under inspection. Tho suspension has also beon announced of Messrs. Dirom, Davidson, and Co., an old and respectable East India firm at Liverpool, with large liabilities. The failure has also been announced of Mr. William Duthie, merchant, of 1, East Indiaavenue, the extent of whose liabilities has not transpired. AUCTION SALES, THIS DAY. Mr. H. E. ALPORT—At the premises of Mr. Matthews, Salisbury-stre-t, Christchurch, at twelve o'clock, Slock-in-Trade of a Chandler, and other Effects. Messrs. WOLEDGE & CO. —In their Stores, Lyttelton, at one o'clock, Boots, Surplus Stores, Fruit Trees.