COMMERCIAL.

Otago Daily Times, Issue 185, 19 June 1862, Page 4

COMMERCIAL.

A meeting of the tobacconists of Dunedin ooJ-.'' place last evening at the Shamrock Hotel »• -ie purpose of fixing the retail price of tobs"™^.,. n consequence of the advafteed rates in Melbourne. The following: prices were agreed upon: Twist Tobacco 12s. per ib, 9d. per fig' Honey Dew 10s. per 115, 2s. Gd. per fig 10 S •. 10s. per lb, lOd. per plug Aromatic 12s. per ffi, 3s. per plug Cut Tobacco 9d. per oz.

(WELLINGTON.) (From our own Correspondent.) "Wellington, 11th June, 1862. The Economist of the 15th March has an interest-' ing article on the American cotton supply, showing a decrease of the article in stock at Liverpool, and afloat for that port, of 847,000 bales as compared with 18G1, against -which there is an increase of only 96,000 bales from other places. So large a deficiency will fully explain the rise in the cotton goods recently imported here, and indicates still higher prices. This buoyancy, however, should not tempt any great speculation, for the moment the American war ceases, and I many circumstances indicate the proximity of that desirable event, the fall will be great, and more rapid than has been the rise. It is cheering to reflect that the same event that depresses cotton will also tend to send up the price of our staple export, wool. Grave doubts have been expressed by practical menof the propriety of applying the "Limited Liability Act" to banking institutions; and certainly, unless the directory and management of such a bank be not only cautious but far-sighted, and of inflexible integrity, the interests of depositors must be -exposed to serious jeopardy. lam amongst those, however, who believe that the risk implied will not be incurred. I perceive that in England a bank with this feature has just been established, with a capital of £2,000,000, under the name of the London and Liverpool Alliance Bank. , x , New Zealand six per cents are quoted in London at 109, while Victorian are no higher than 107JJ. , In the cattle trade enterprise is still extending. Shippers are loud in their complaints of the ruinous charges incurred on stock at your port. An auction sale of ironmongery was held last week, at Johnston and Co.'3 store. Except in the article of hollow-ware, the prices realized were not encouraging. The recent arrivals of the Lalla Hookh from Melbourne, nnd the Wild Wave and s.s. Airedale, with the Lord Worsley's cargo, from Sydney, have replenished our stocks of tea, sugar, and spirits, which, in sugars especially, were running low. Good congou is now selling at £9 10s. to £10. Sugars have slightly receded. In the grain market there is little doing, except in forage. Maize (imported) has receded to 6s. 6:1.; oats, ss. 6d. to ss. 9d.; wheat, owing to heavy importations and the low price of Adelaide flour, is dull at (is. to 6s. 3d. Butter is firm at Is. 6d. to Is. 7d.; bacon and hams, lOd. to Is.; potatoes, £4 10s. to £4 15s. Our May Customs revenue was £2,681 Is. 9d., against £2,107 12s. 3d. last year. The land sales for May amount to £2,731, representing 5,282 acres.