COMMERCIAL.
It too frequently happens that when new fields for the operations of commerce are opened, their capacity is either overrated or misunderstood, resulting in disappointment and loss to the shippers. This contingency bids fair to be realised in respect to this market, unless greater judgment and care is exercised, more particularly by the Melbourne shippers, who to relieve their overstocked and glutted market, have made indescriminate shipments to this port—in many cases of goods unsuitted for and unsaleable in their own market, and equally so in this. -That Otago may be expected to be a large and continuous customer of Victoria is undoubted, and it only remains for the mercantile community to avoid the rashness which has produced so much disaster in Victoria in past days, and they cannot fail to reap the benefit of a prosperous commerce between the two colonies.
These remarks are induced by the evident tendency of a glut which exists in this market. With comparatively few exceptions the market is quite over-supplied, and considerable difficulty is experienced in moving off stock ; but, as yet, no general depreciation in price has taken place, although, in the face of the large shipments expected, a considerable fall must occur. Flour has declined : Adelaide may be quoted at £16 to £17. A lot of slightly damaged, ex " Aldinga," sold at auction for £ 12. Canterbury has also been sold for £10. Bottled beer and porter are scarce, and realise full prices—the same remark will apply to bulk and case whisky. Tea is extremely dull of sale. The horse market is reported by the salesman as quite overstocked, and offering no inducement, but rather resulting in a loss to the shippers. Working Bullocks will be in demand as the season advances.
The Custom Receipts on Imports alone, at the Port of Dunedin, amounted yesterday to £1078 10s. sd.
It is particularly requested that Subscribers not receiving their papers regularly will forward complaints to the Manager, Daily Times Office.
Runners will in future be supplied with this Paper direct from the Office, for town sale only.
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https://paperspast.natlib.govt.nz/newspapers/ODT18611220.2.6
Bibliographic details
Otago Daily Times, Issue 31, 20 December 1861, Page 4
Word Count
345COMMERCIAL. Otago Daily Times, Issue 31, 20 December 1861, Page 4
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