Commercial Intelligence.

Nelson Examiner and New Zealand Chronicle, Volume XVI, Issue 72, 5 December 1857, Page 2

Commercial Intelligence.

[Abridged from the Sydney Empire, November 13.] Empire Office, Thursday Evening. The business doing to-day has been mostly confined to the auction rooms, where various goods were offered. Wo do not hear of any important private transaction', nor can we expect any improvement in trade generally until the arrival of the overdue mails from Great Britain. The Yavra Yurra is in from Melbourne this afternoon, but up to the time of her leaving Port Phillip Heads nothing had been heard of the Columbian. The advices to hand from Melbourne continue equally desponding with previous accounts. Extreme dulnes3 in every branch of trade prevails, and although no new failures are reported, fears of new insolvencies are still entertained, and a general feeling of want of confidence manifested in mercantile circles. The arrivals and consequent additions to stock had been very large, and were likely to depress the markets still more. Flour was quoted* as low as £19 for Chili, and very dull of sale. Sugars offered at auction had scarcely obtained arionajide bid, but transactions are reported privately, and several lots were sold for the Adelaide market. Pampangas were offering at £47 per ton, less 2J- percent; fair counter sugars, from £52 to £54. The gold-mining interest is thus reported in the Argiis of the 9th : — The Melbourne bullion-brokers are buyers at the following prices :— £3 16s. to £3 16s. 3d. per ounce for Castlcmaine and Sandhurst ; £3 16s. 6d. to £3 16s. 9d. for Mount Korong ; £3 17s. to £3 17. 6d. for Dunolly, Maryborough, Fiery Creek, and Avoca ; £3 16s. to £3 17s. 6d. for Ararat and Pleasant Creek ; £3 17s. 6d. to £3 19s. for the Ovens ; and £3 18s. 6d. to £3 19s. for Ballaarat. The Escorts have been again under the average of the last thirteen weeks. Those from Castlemaine, Sandhurst, Ballaarat, Fiery Crepk, and Maryborough show the chief falling off; those from the other fields have been maintained up to the mark. Ararat and Pleasant Creek continue to 3 ield the chief amount. Total shipments for the year was 2,304,323 ounces, or 96 tons 1 qr. 1 lb. 11 ozs. ; the value of which, at £4 per ounce, amounts to £9,217,292. A decline has been established in the prices paid on nearly all the gold-fields to the extent of from Is. to Is. 3d. per ounce ; the Banks having, from some cause or other, discontinued competing. This has been followed by a disposition on the part of those who can afford to hold to do so, and a consequent increase in the deposits in the gold offices. The necessity for the economising of labour by the establishment of a prospecting association is being discussed in public meeting and through the press at the Ovens— the most eastern gold-field, and at Ararat — the newest and most western. The miners of Snake Valley, in the former district, have reduced the idea to practice. A small body of practical miners, well appointed and provisioned at tlao joint expense of the storekeepers and miners, have been despatched to thoroughly prospect Bowman's Forest. The general state of monetary and commercial affairs is reported by the same authority as follows : — In the money market there are large sums available for loan on mortgage of first-class city property. For j any but the most choice situations, 'however, 10 per cent, is asked. In commercial circles the market ia tight. The 4th of the month, which was rather a heavy one for November, passed off well, but there is still a great demand for advances, arising out of old speculations. The gradual but steady drafting off for consumption of the hitherto hoarded stocks of flour will shortly cause it 3 effect, in relieving the market, to be felt. The banks now charge 7 per cent, for discounting bills having under 95 days' currency, and 8 per cent, minimum for those having over 95 days to run. For renewals and for overdrawn accounts, 10 per cent, is charged. Draft 3 are issued on England ! at 1| per cent, premium at 60 days' sight : for accounts under £50, at 2 per cent, premium at 30 days' sight. Bills against gold are purchased at 1 per cent, preniiuui. Freight o\ gold, by direct steamers or sailing vessels, 3kl. per ounce, deliverable in London ; insurance, 1£ per cent. By the Overland route r ; per cent.— that is, 7d. per ounce, as nearly as possible; insurance, 1£ to 1^ per cem . The wool season has now fairly set in. At the two sales held this week, the detailed report of which will be found elsewhere, there were large attendances, but buyers were not eager. Many of the lots were passed, but these have since found purchasers for immediate shipment, in order to reach London in time for the February sales. The Age, November 9, reports the money market : — " In the money market there is no change to report, unless it be an increased tightness. Advances upon stocks have almost reached their extreme limit, and until the markets are eased, either by a larger demand for consumption, or a very material decrease in arrivals, there will be danger of large parcels of goods being forced into sale merely from the pressure of scarcity of cash. The result would be a serious depreciation in the market value of all commodities, and for a time it would be almost impossible to operate with a profit. Such a state of things would try the stability of all but the most firmly established houses, who could afford to hold over their stocks until a healthier tone was restored ; and it would especially affect those who too largely entered into the speculative movements which prevailed three or four months ago. There are, however, grounds for hoping that this danger will be averted. We may have news by the Columbian which will tell favourably, and the prospect of increased employment for all classes of the people encourages the hopes of commercial revival. On the stations and farms, as well as on the public works, a demand for labour is growing up, which will speedily absorb all the available supply, and proportionately increase the consumption of goods. This, m addition to the regular demand for the various diggings, will in all likelihood bring us at least temporary relief. We have later reports from Tasmania, and extract the following : — Hobaet Town, November 2.— No activity is perceptible in the grain market, which exhibits more signs of dulness than even has prevailed lately. Wheat has still a downward tendency, and is quoted at Bs. 9d. to 9s. the best samples ; 9s. 3d., however, has been given for small lots of superior articles. Oats also have experienced a decline, and realize now 9s. to 9s. 6d. per bushel. Hay ia in continual demand, and business is still very brisk. Generally speaking, quotations remain as heretofore, the loose and country pressed ranging from £6 10s. to £9 per ton, according to quality ; and the hydraulic pressed at £10 10s., but we have heard of transactions having taken place at the advanced figure £11 and £11 10s. The flour market continues flnt and inactive, and a downward tendency is perceptible. Flour from the best colonial wheat realizes at not higher than £22 per ton. — Hobarb Town Advertiser. Launceston, November 4. — The flour and grain market is completely stationary at present, except for supplies required for immediate use. Although either a further decline or a considerable advance must take place during the present moDth, there are no speculators prepared to purchase, nor any holders willing to sell at what they consider a great sacrifice, £18 per ton. Purchases of parcels could be effected at £18 10s. to £19, and the millers have reduced their quotations to £20. Wheat is quoted at 7s. 6d. to Bs. Bran, Is. 6d. per bushel. Potatoes are the only article of produce in great demand, and in consequence of the direct export from Port Frederick to Victoria, our market has been left completely bare of them. They are now in demand at £18 per ton. — Cornwall Chronicle. MELBOURNE MARKETS.— Nov. 7. The Mills. — The somewhat rapid decline in prices of Adelaide flour has been felt by the millers, and the amount of business during the week has been consequently light. The following quotations are nominal :— Fine flour, £22 ; seconds, £20 ; Chilian, £20,

per ton ; bran, Is. 9d., par bushel ; wheat bought at Bs. 6d. to 9s. per bushel. Retail Maekets.— Butchers' meat:— Beef, sd. to 9d. j mutton, sd. to 7d. ; veal, Bd. to lOd. ; pork, lOd. to Is., per lb.— Poultry : Turkeys, 15s. to 203. each ; geese, 20?. to 255. per pair ; ducks, 12s. to 14s. per pair ; fowls, 10s. to 12s. per couple ; rabbits, 6s to 9s. per brace. — Dairy Produce: Butter, fresh, 2s. 3d. to 2s. Gd. per lb. ; egg 3, 2s. 6d. to 2s. 9d. per dozen ; milk, Is. per quart. — Bread, the 4lb. loaf, lOd. to Is.

SYDNEY MARKETS.— Friday, Not. 14. Wheat and Elope.— Messrs. Barker and Co.: The heavy stocks and the falling prices in the surrounding markets have caused another reduction of £2 per ton in oui' flouv market price. Fine is now £21, and second quality £19 per ton of 2,0001b3. Wheat, 7s. to Bs. per bushel; bran, 2s. per bushel. — Mr. Breillatt : A further reduction of £2 per ton has taken place in flour. The mills now quote fine at £21, and seconds at £19 ; wheat, 7s. to 7s. 6d. per bushel ; bran, 2s. per bushel.— Messrs. Furlong and Kennedy: Another change has taken place in tho market, and fine flour is now £21 per ton ; seconds, £19; bran, 2s. per bushel; wheat, 7s. to Bs. per bushel.

Beead, 4|d. to s £d. per 4-lb. loaf. Biscuit.— Messrs. Wilkie and Co. have reduced their prices in proportion to the fall in the flour market. Their quotations are— Cabin biscuit 265., navy 225., and ship 20s. per lOOlbs. Fancy biscuit as usual.— Mr. Hamilton : Ship biscuit 20s. } navy 225., and cabin 265. per lOOlbs. Fancy biscuit as before. Butchees' Meat. — Beef 2d. to 3d., mutton 3d. to 4d., pork 6d. to 7d., veal 6d. per lb. POTTLTEY AND DAIEY PeODTTCE. — Fowls 4s. to 4s. 6d., ducks ss. to 65., geese 10s. to lls., turkeys 103. to 205., wild ducks, ss. to 65., pigeons 2s. per couple. Roasting pigs 4s. to ss. each. Butter 9d. to Is., cheese 7d. to Bd., bacon and hams 7d. to Bd., lard 6d. to 9d. per lb., eggs Is. to Is. Id. per dozen. Fobage.— Oaten hay £10 to £14, lucerne £12 to £13 10s., straw £5 103. to £8 per ton, maize 7s. to Bs. per bushel, green food Is. to Is. 6d. per dozen bundles.

Messrs. Martyn and Schroder report that a very limited number of fresh horses have arrived in the market during the week, and inquiries have been very numerous for good horses, but we have been unable to supply several buyers, in consequence of so few being offered. Our sales continue to be well attended, and every description of good horses are quickly bought up. — Burt and Co. report the sale of a large number of medium class horses during the week; weight carriers and gig horses are much wanted. The demand for steady draught stock has declined, and prices rarely exceed £50 for the best. Well-bred handsome hackneys, perfectly broken, sell readily; for poor horses there is no demand ; unbroken colts, if in good condition, realize fair prices. Prices this week : — For the best cart horses, £10 to £55 ; light ditto, £25 to £35 ; best saddle ditto, £25 to £35 ; gig and carriage ditto, £35 to £10 ; stock horses, £12 to £20 ; inferior ditto, £8 and upwards. — S.M. Herald, Nov. 14.