COMMERCIAL.

Otago Daily Times, Issue 111, 25 March 1862, Page 4

COMMERCIAL.

■ Yesterday being, observed as the Anniversary of the • Settlement of the Province, /was a strict holiday in town, we have therefore no commercial intelligence to notice. ■■ ' ;: ■ ■" ■ '-: ■ ■ •

England.—Cosens' Ciroulab, —The following is F. WV Cosens' circular for the month of January:—

The reduction of the wine duty was opposed by - Buccessivej administrations because, it was affirmed, that wine was a luxury, and should be taxed taxed as ■ one; the revenue obtained being considered a contribution to the coffers of the State by the higher and ! well to do middle classes, the exclusive consumers of -it: the commercial treaty with France (the largest --wine producing-country-in Europe), rendered a revision absolutely, necessary, and the duty was wisely reduced to such a.point as woulcj render any further agitation unnecessary. v Tlie result has proved most satisfactory, and although the mode adopted of levying the duty, by means of alcoholic tests results in a . differential duty r as regards France, as.unfair as that "•which formerly existed when colonial growths were admitted for home consumption at 50 per cent, less than the growths of foreign .countries, still the Exchequer has gained considerably—France at the same time securing the monopoly of the supply of her clarets, &c, at a duty of 2s. per dozen to the coni sumer, -while port,, sherry, marsala", 'madeira, &c, pay 4s. lOd. Whether the light wines of France are destined to displace the growths of Portugal and Spain can. be of no importance at present to the wine merchant; his mission is to supply the wines required by the consumer, leaving the tuture to the care of itself, bearing always in mind the fact that the conearner dictates the taste, and not the vendor of the . commodity consumed. It may be considered that the above remarks are unnecessary and not to the purpose in a market report intended for transmission, to thp colonies, but a considerable and' permanent increase in the consumption of the United Kingdom cannot be without its* influence upon prices at the ports of production. .In spite of the_ increased consumption of 4-wine, prices have remained' throughout the " past year remarkably steady ; this . arises from the im- • portation of 1860 having been considerably in excess Z{ our requirements. The import in round numbers for that year was 12,000,000 gallons, the total con-; sumed and exported 9,500,000; while for 1861 the jmport will prove about 10,500,000 gallons, and the total "consumed and exported about , 13,000,000. •fjrandy has during the vast year ¥een subjected to a»

violent fluctuation in value. The price in March for MarteH's of 9s. 2rl. gradually advanced, until in December it stood at 10s. 2d. The importation, when the returns for ISb'l are issued, will be about 2,000,000 gallons—the total consumed and exported about the same figures. Rum shows a considerable increase,^ the figures being,—import 7,500,000 gallons, againbt 5,500,000 consumed and exported. Geneva : The direct trade from Rotterdam to Australia renders the imports and exports from the United Kingdom'of little statiistina value.

' Wises.—Sherry/ The total export from Cadiz to all parts for the year 1861, was 49.945 butts, against 51,859 in 1860. The only direct shipment during the past year was 360 butts to Sydney, in May, by the Woodlark, shipped by F. W. Cosens. ' The reduction of duty has very considerabty increased the consumption in the. United Kingdom, the total for 1861 being about 37.000 butts, against 23,000 in 18G0, ami 26,000 in 1859, the duty having been reduced from ss. 9d. iii 1859, to 3s. in 1800, and 2s. sd. in 1861. The matter of most importance to those interested in this branch of commerce is the course prices are likely to take during the present year; for many months dealers have been content to limit their purchases to the supply required for the moment, prices consequently have remained unaffected by other than legitimate causes. Fine old wines are limited in supply, and must be dearer even with the present demand: but good young wines being more abundant, prices 6f such will, it is hoped, remain moderate. The Electra left Cadiz on the 3rd instant, with a cargo ; of Sherry for Sydney direct. Port: The result of the vintage, 1861, has proved more satisfactory. than was anticipated as far as quantity is concerned ; of quality it is yet too early to speak with confidence ;■ many, however, class the wines as somewhat deficient in body, but the prices paid on the Douro have been such as to render reduced quotations quite out of the question. Imports about 2,500,000 gallons ; consumed and exported aboxvt 3,000,000. About 600 pipes have been exported from Oporto during the past year to Melbourne and Sydney—all by Messrs. Hunt, Itoope, and Co. French.: The reduction of the duty upon Claret, Burgundy, and other light French growths from ss. 9d. per gallon to Is. and Is. 9d. has induced a considerable demand, the consumption having increased from '650,000 gallons in 1859, to 2,100,000 gallons in IS6I, the quantity admitted at the shilling rate_ being about 1,000,000, the remaining 1,000,000 paving le. 9d. upwards. Spirits.—Brandy : The' course _of the Brandy market for some few months is not likely to be much deranged to induce fluctuating prices, the prospects, good or bad, of the coming vintage will probably induce a rise or fall; still the trade must bear in mind that more than twelve months' business must be effected with the present stock at Cognac and in England. Hum: The price of. this spirit has been evidently depressed by the accumulation of stock, the importation liaving been for the past year unusually heavy. Geneva : The fall in this spirit during the year "has been, upon large cases about 3d. ; -on the small ones the reduction has been very slight.

PRICES CURRENT, 18TH JANUARY, 1862. (All the quotations are free on board export ship in

London.) Wines.—Sherry, per butt of 103 gallons, young wines, £32 to £38: first brands, ordinary, £42; do, medium, £47; do, fine old, £52 to £57; do, very choice and old, £62 to £82, and £100; atnontillado, £00 to £100. Port, per pipe of 115 gallons: No. 1, first brands, ordinary, £46; No. 2, medium, do, £52; No. 3, fine, do, £60; No. i, superior, do, £65; extra quality, £70 to £80. Champagne : common sound wine, quarts, 265; good, No. 1, do, 365; pints, 19s 6d; superior, No. 2, do, 40s; pints, 21s 6ii; fine, No. 3, do, 46s ; pints, 24s 6d. Claret: common, quarts, 15s to 20s; pints, lls 6d; good, quarts, 25s ; pints, 14s; fine, quarts, 30s to 50s; pints, IGs 6(1. Marsala, per 92 gallons: Ingham's or Florio's, £25 ; Moselle, 20s to 48s per dozen; Hock, 20s to 80s do ; Sparkling Burgundy, : 28s do; Teneriffe, per 100 gallons, London particular, £42 to £45 ; Masden and Rousillon, per pipe, fine, £34 , inferior, £20; Spanish red, per pipe, superior, £20 to £26; common, £12 to Lls; Cape, per pipe of 92 gallons, red, Ll2 to Llo; white, LlO to Ll2. , Spirits.—Brandy, per gallon, in hhds.. 1860; Martell's, 10s 2d; Hennessey's. 10s; U. V. P. Company's, 9s lOd; do. in cases, 26s 6d ; Otard, 9s lid ; do, cases, 255; champagne V. Prs, 9s 6d ; do, cases, 255; clouzeau, No. 6, per dozen cases, 235. Rum, per gallon: Demerara, 12 to. 14 0.p., 2s 6d, inhhd.: do, 30 to 34 0.p., 3s do; fine, double diamond, 32 0.p., 3s Id; do fine selected, 12 0.p., 2s 7d do; Jamaica, fine, 22 to 38 0.p., 4s 8d to 5s B<l do Geneva (key brand): Red cases, large, 10s; do, small, 9s 6d; green do, os, hooped 2d extra. JDKXZ anchor and S brand, red cases, large, 10s; do, small, 9s 6d; green do, 6s, hooped 2d extra. ,V. 11. and Co., anchor brand, red cases, 10s; green do, 6s; hooped 2d extra. For 500 cases and upwards. London Giu-, Pigeon's, Booth's or Swaine Boord's, per doz. case, 10s 8d to lls. Lownde's Old Tom, lls per doz. in white bottles.

Batavia. —Our datesare to the 31st January. The following is Messrs Houghton and Hunter's Circular of the above date: —

Since our last circular of 31st ult., wo have received the Australian mail of the 26th November, to hand via Singapore. 10th January, the Sea Nymph arrived from Melbourne, left that port on the 29th December, but brings no letters, having clewed for Padang. Our sugar season is now over, all the mills have ceased grinding, and the crop being fast shipped off. The Maassluis lias sailed for Sydney, but,has put back info Tjlatjap, on the south coast, leaky. The Agnes, Home ties'Ange's, and Native Lass have got away to Melbourne; the Gratia is loading at Sourabaya and Passaroang for Melbourne. The Spray aud'Kaliemaas load, general cargoes to Sydney; and the Vooruit the cargo of the Kosette condemned here, from Manilla" to Sydney: The Wbodlark loads here, Indramayoe, and Sourabaya, also for Sydney. The Tell and Sea Nymph was loading here for Melbourne. We subjoin herewith alist of the cargoes that have; left Java during the last month tor Australia, in the; following vessels: —Reine dcs Anges, 459 tons sugar, 3 tons rattans ; Maasslus, 150 tons sugar, 31 tons, coffee, 188 tons rice, 3 tons rattans ; Agnes, 411 sons sugar, 5 tons rattans ; Native lass, 163 tons sugar, 10| tons coffee, 5 tons pepper, 3 cwt nutmegs, 2 tons rattans, 130 packages mace. Steam Communication with England.—The: proposed scheme for establishing monthly steam com-; munieation between England and • Australia via the Cape of Good Hope, was brought under the notice of the Chief Secretary and Minister of Finance yesterday, by the committee appointed for that purpose at a meeting held at tho Criterion Hotel, Melbourne, on. the 3rd inst,, when the project was first formally submitted by Mr. Burstall. Both hon. gentlemen concurred with the promoters of the scheme as to the great desirableness of having a regular line of steamers running between this colony and the mother country, for the conveyance of passengers as well as the mails, and expressed a general approval of the scheme submitted to them. Mr. Burstall explained the leading features of the project, which have already been published in The Argus, and replied to some doubts which have been raised in our columns, by correspondents, as to the accuracy of his calculations of the expense of:" carrying the scheme into", oi>eration To confirm his correctness of his estimate as to the cost of the proposed steamers, he stated that the cost of the Great Eastern, including launching, was about: £28 per ton; and in his estimate he put down the probable cost at £30. Mr. O'Shanassy asked the promoters to furnish him with a written statement of their scheme, setting forth the assistance which they wished to receive from Government, and he promised that he and his colleagues would give: it • a careful consideration; and give a definite answer as to their views without loss of time. Strong hopes were held out that the Government and the Parliament of the colony would be willing to aid the scheme; and a general feeling was entertained that the matter ought to be pressed forward without delay. It was felt to be of great importance that the calculations of expense ought to be verified before the protest was fairly submitted to the public ; and Mr. Burstall stated that the calculations had already been submitted to Mr. Brereton, the successor of the late Mr. Brunei, whose opinion thereon was expected by the mail due in April next. The deputation expressed a confident belief that, if the Government would guarantee four per cent, interest, and give a subsidy of £4000 per trip, the necessary capital would Be raised without difficulty.— Argus, March 11.