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Otago Daily Times, Issue 159, 20 May 1862, Page 4

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The Tinies of March 24 thus reports ':— ' "; • ' The English funds have shown increased dulness to-day,* chiefly on'acconnt of the introduction of the hew Turkish loan,'the deposits paid on which have a!-; ready amounted t0£640,000, representing at 0 percent, applications for a total pf nearly £13,000,000 sols for money opened at. yesterday's price,..93Ji and, after having ranged between 932 and.94, closed at D3,f to I for money, and 93J to 04 lor the 10th of April. The uew3 from America exorcised no influence, ns the New York money market is likely to remain without material alteration until the issue of the mass of inconvertible paper lately authorised, shall .have commenced. Keduced and New Three per Cents, closed ato2>j.toA; India Stock, 224 to 226; India Five per Cents., 10*81 to |, a decline of an eighth; "Rupee paper,. 193 to h. and 108 J. to-3; India Ikmds, 24s.Cto 285..;: and. Exchequer bills, 1.75. to 20s. premium.': ■' , ■ . There was some demand for discount at the bank to-day, and in the Stock Exchange the; rate for advances was two to,two and a-half per cent.' 'The fact that the whole of tlio £5,440,000 for the Turkish loan is likely to be paid: lip immediately, owing to >thei discount of six per cent., offered as an inducement, leads to an expectation" that the, ease;in: the money market -will be temporarily checked. The extent to which this may be felt will depend jjpon the rapidity with which the Ottoman Government may order remittances.to .bo made ; and it. is certain they would not have allowed the discount if .they had not contemplated to avail theinselvcs promptly of the| resources it-would place at their coinmana." Still,; the arrangements*for the due application' of the amount under.the supervision: of.the British "commissioners,: .nominated at the request of the' Sultan, must be .attended .'with., some delay ; and, as there are;also. ■heavy- commercial -and. Other payments" due from Turkey to this country, the probability is tbat.no vex-y material inconvenience will be caused by ; the Operation. . ■■ ■ .:...■-■.:■■..::.:; ■. ■-......■:..■„,.. i LONDON WOOL REPORT, 22ND MARCH, 1862. The first Eeries'Of sales for the year commenced on :27tK February, and the arrivals to, that date were— > Australian,. 3223 t bales ; Port Phillip, ,7170 ;" Adelaide, 72101; .Van Diemen's Land, 469; New Zealand, 192; Cape, 21,553 ; total, 39,822.-, Held :over, ; 7 ( 000 ; present stock, 46,882;;ba1e5. '-'■ " v "'' ,- -The indifferent accounts received from the manufacturing ' districts from the commencement of the I year,"und the'gradually increasing-stocks of- clotli in the North, had>led manyijo anticipate lower prices ; and it was with some anxiety that merchants awaited ; the result of tho'first evening's sale, which it is; very satisfactory" to report, passed off at prices fully ec^nal : to the rates current in November,-and after the1 nrst few days prices wereirather firmer, establishing an advance on scoured and fleece from Sydney of Id, and on Capes Jd 'told.. Prime. Port Phillip flocks were, much competed for,and established high rates. The sales progressed with remarkable uniformity to the close; Capes,* however, were a shade easier the hist two jdays'.'" -5-/;.,-.,-f .-•r.-.- ,' ".' ■';■ ■ -"■ ''< {< -■ • ,■■"<•■:) I "i'hKsmall quantity of good ; wool, in,,this series, is to be regretted-; .the prevalence of unfavorable^ .winds kept many ships out: •which should have arrived intime, although this was «n advantage in respects ; one especially'being'that it "enabled ail old stocks to be quitted, whiph;was done to the extent of nearly 10,000 rbales,'" an accumulation of old wool, tha'disposalof which, has.iriuch relieved our niarket, which may now.; be: ,quoted^ entirely bare—frfcsh arrivals expected. ' ( Judging ftoin the departures from , the colonicsy4he' May sales will be the most important of the year;"" particularly of Port Phillip,'the arrivals of which are expected to be very large. The,Vgeneral estimate-;is that fully 100,000 bales will /be,, ptfered at the.vMayi series, of which nearly one half \vill be Port Phillip..; Current rates ca,n scarcely' be looked for at that jseries: the large quantitity to be offered, to be againfollowed by liiflelessiiiJuly/must of "necessity produce a, decline/the.ektent of which depends much on th'e'aypect of Airierican'nffin,Jrs;;the settlement gf which :.-wouldibe' a great stiinulantjtp ; qur market ; & and when Ttbestocks otclatli are t-edueetljto a considerable extent, our market will be :in, a most healthy Estate; ftp. the. stockß of the raw. aiaterial in the.harids of the rflanu-' facturers.. and j dealers; were never smaller if an ' average be taken. •

j •Thclil6afli JLof itrV.Dilnp'an .'Bu'ijliail, the'Gliamujm of ,th,e • London "'Cliitrta-edl Bank of • Australia, and 'owner of/-the largest private, mercantile fleet''in tli'p ■world,"is "noticed in our Obituary.. It is di-.tliii!tly-frem-rptl in the City tliat his vraltli npproxiniftt'Sio i£1,600,000. It iiu-liifies from 50 to 63 moiehaiit ve*>pld of lai'im toniinpp, nn euonncms Rmcunt oJ ,l>ank and insurance s.linms, and a;pi'nt variety of rolnui.il <lf-bei)!iircs. Tlie shaivs of some of- th'1 companies with which ha was connected are now quoted lower. He win a -lin-ire holder in st-vi-nil, a»d, it is 'wid. yios.-.e=scd,.fbr oxiiniplu, no lebS ilian-1400 shares .[in the Marine Insurance Otiica. It -is understcod .that the estate lias beoii' pla<ed in Cliaucery for administration. This htep was taken by'thtf executors fur their own security in dealing1 with property, of .such masrnitude. POST OFFICE NOTICE. MAIM CLOSE Fov Great Britain and the Australian Colonies per a.s. City-of Hobart, this dny, at noon. Rpgibterotl Lettcj^'and Newspapers one hour previous. For Invcrcargill, per s.s. Airedale, this day, at half-past 10 a.m. ARCHIBALD BARR, •■ Chief Postioaster. Chief Pi st Office, Dunedin, 20th May, 1862. "abstract of" sales by "auction. this bay. A. M'Landress & Co., at their Rooms—Provisions, Ironmongery, &c. R. C. Campbell & Co., at their Rooma —Provisions, Ironmongery, &c. J. Maclban & Co., at Goodall's Yaiiis, Tokomairiro—Cattle. R. 13. Martin & Co., at W. C. Youngs-Wines, v Spirits, Provisions, &c. W. Watts, at his Rooms—A large assortment of Stationery, Merchandise, &c. J- Daniels &: Co., at the Commercial Sale Rooms— Candles, Ironmongery, &c. ' :"

An inquest.On the.body of aMr. Cotherell, who was killed.ia.his own house by an explosion in.liis lamp of what hothfid bought as'paraffin oil, was* brought: to a close on" the 27th of February.,- A friend.of the"de-' .ceased, who happened to have beo'n; summoned on tlie jury^wjiis,callod as a witness, nnd he stated that after the explosion he b'ojri-bwcd the cail iv which the oil ■was "coutaineil, applied a light to a-small portion, which exploded instantly," while -a' light applied, to borne otber oil did notcveu fcet:it 6ii lire, xhejiiry came to a verdict tliat'thc" deceased was killed by the .explosion of a "highly' Hfurgerous* oil, and expressed' their' opinion rlhat-tbe; sale of)these oils should'b'o' jjlaced under the Qovernnient re(;ulations:7-^English paper. • •'•" •: r-" : "-; ■>' '. ' i_.

] JSIOTICE/raADYEIITISERS. ( . __' We have-again .to remind our advertisers that 1 our terms are cash on receipt of adverti<-e----inents, or where accounts are opened, cash at the close of the month—no longer credit will in any.case be given—and we must | respectfully inform subscribers that they put us to great inconvenience by making ' our collecter call day after day, on' tlie excuse that they have not examined into their accounts. For their convenience we waive the cash on delivery of advertisements, and for our convenience they should examine the accounts as soon as presented. PltlZE SILVER CUP TO THE AUTHOR OF TUB BEST PAMPHLET OK SEPARATION. The Proprietors of the Daily Times will present a Silver Cup, worth at least £50, to the author of the best Pamphlet on the desirability of the Separation of the Middle Island from the Northern Island of New Zealand. The time for receiving the Pamphlets, and other, details, will be announced in a few days.

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