Commercial.

Otago Daily Times, Issue 92, 3 March 1862, Page 2

Commercial.

Daily Times Office, Saturday evening. J Tlie business of the week closes dull, there is no animation in any branch of trade, and even in cases , where dealers need to replenish stocks, the most retail | parcels are taken. Amongst buyers there seems a . most decided intention to prepare fov a limited trade during* the coming winter, a course which, although '■ very unsatisfactory to holders of heavy stocks, is likely i to keep matters healthy, and to prevent those ditii- i culf.ies which so frequently arise from indiscriminate ( purchases. The money market, for all commercial purposes, is ' so entirely in the hands of our three banking institutions, and the supply and demand rather regulated by I the safencss of the investment than the necessities of j the case, that no correct general opinion can be formed , of its course. Since the first outbreak of the gold- ' fields here the course of the hanks, in meeting the increased demand for discounts rendered necessary by * the enlarged trade, has been one of excessive caution, ] doubtless founded upon dearly bought experience in , tho Australian colonies at a similar epoch, of their ( history; consequently anything- like rash speculation ' • lias been checked or prevented, and should business, ' during the coming winter, be as dull as some expect, < the community will have reason to congratulate itself t tliat this politic course has been observed hy the ( banks. . The rates of interest charged are not altered, being 8 per cent, on 3 months' bills, 9 per cent, on 4 months' ' bills, and 10 per cent, on longer dates. Exchange on ( Melbourne rules at ? to 1 per cent, for 3 days sight i bills, and on England, 2£ per cent, premium for 60 , days' sight drafts. ' The ventilation of the subject of mail communication is likely to lead to important results, and in the ' late friendly discussion ofthe matter between the hon. t Mr Ward and the Chamber of Commerce, the latter s body has but expressed the views ofthe public in their j determined advocacy of Otago being the terminus of j tlie mail service, a position to which it is entitled as well by its mercantile importance as by its geographic cal position. h In the goods market we have no alteration to re- o . port. A continued demand exists for malt liquors, c which are still scarce. Few articles have responded c to tiie increased rates advised from Melbourne. v Jones, Bird &-Co. Ileport:—The market very n badly supplied, and a small attendance of buyers, who c are looking out for fresh stock from Victoria. A few n superior. heavy draught stock are still offering, but /■ buyers are shy, objecting to present rates. Altogether the trade has beon unprecedentedly dull this week. '' They quote first-class heavy draught mares from o £70 to £85 ; horses, from £t>o to £70 ; second class ■« mares from £-10 to £50 ; horses about the same, f, although mares are most in demand ; light harness mares and horses from £25 to £35 ; inferior from £20 upwards. a Cattle.—Frst class bullocks, £20 to £24 ; second si class do., £16 to £13 ; first class heifers, £18 to £20 ; c. second class do., £14 to £16. c ] Sheep.—Store sheep, 21s. to 235. ; fat sheep, ac- „ climatised, 30s. to 355. S( LATEST DATES. P England Nov. 29 s< By telegraph Dee. 2 America— New York. Dec. 5 , San Francisco Nov. 28 - Valparaiso Oct. 20 n Cape of Good Hope Dec. 10 g: Mauritius Dec. 26 e< Ceylon (Colombo) Dec. 17 • ; r China (Hong Kong) Nov. 14 Madras '. Dec. 14 cl Bombay Dec. 12 of Calcutta Dec. 9 st Singapore Dec. 7 c ] Australian Colonies— Melbourne Feb. 17 „ Sydney Feb. 16 l Queensland Feb. C it: Adelaide ... Feb. 10 fr Launceston Feb. 15 0 f Hobart Town Feb. 14 Perth Dee. 25 n. c New Zealand— tli Wanganui Feb. 13 bi Wellington Feb. 15 lii Hawke's Bay Feb. 1 pv Canterbury Feb. 27 !v Marlborough Feb. 14 '" Nelson Feb. 22 Sc Auckland Feb. 8 fo Taranaki Feb.' 8 £; Invercarjrill Feb. 15 t „, jjiMiMiiiu.iiwnßrnflTii i nn._ .TT^T^m Exploration.—The Bcnd'ujo Advertiser has ra the following under the head of news from the north : •—"Messrs. Calleott and Vining, two of Mr. Hewitt's foi auxiliary exploration party, arrived in town yesterday su evening from Menindie. They have resigned their Vf . position in the party, with the option of rejoining, and should they do so, they will take up a flock of P r goats—on the suggestion of Mr. Whitehora, of Cas cvi fiemaine. They left Menindie on the 17th January, hai flrid'have knocked up two horses on the way down. j n f Mr. Calleott brings some curious specimens of fossil •■woods, conglomerated pebbles, &c, from the neigh-r, liourhood of Coober's Creek." t'l£ Mr. O'Shannassy said yesteaday, in reply to Mr. fur ;Keid, that Parliamont had agreed that the railway reg ,-fihovld be carried on to Echuca, and it would be a Dr ; ; ;breach of good faith not to do so. That there was L not sufficient money to do so was no reason why the P line should not he carried on to its terminaiton.— sun Jkryus, Feb. 13. jcou