COMMERCIAL.

Otago Daily Times, Issue 546, 17 September 1863, Page 4

COMMERCIAL.

DAILY TIMES OFFIOE, Wednesday Evening. The amount of Cu?tems Revenue received this day on gcods cleared for consumption amounted to 1512 2s 2d. The items being -.—Brandy, L11315s 7d: whisky, L 164 18s 6d ; geneva, L 79 10s 6d; wine, L3811s: tobacco, L2413s 6d; tea, L 28133 4d; currants, 131 • sugar, L2B 15s 3d; hardware, L 2 3s 6d. LONDON WOOL REPORT. July, 1863. The third and most important sale of the year commenced on the 16th July, the arrivals to that date consisting of—Australian, 27,634 bales; Port Phillip, 20,976; Van Diemen's Land, 9,06U; Adelaide, 13,907; New Zealand, 11,876; Swan River, 120; Cave, 10.727 ; total, 104,200 bales. The sales opened with a very large attendance of buyers, both home and foreign,"at prices fully equal to the highest range of May,—indeed, for the lower descriptions of Sydney and Port Philip, which last sales ranged from Is. sd. to Is. 7d., an advance might he quoted of fully Id. For really good wools, ranging from Is. lid. to 2s. 2d., no advance can be quoted, and during the last two or three days even less animation is noticeable for these sorts, while really ..flood Port Phillips, and indeed oMfine sorts, are sell- : ins; at the prices quoted. ~ Nearly all the leading buyers are holding aloof from buying to stock at preseet rates; a decline in price of Id. to l|d. must be established before they can buy. A retrogression in price to this extent will no doubt be quoted as the sales progress, unless foreign competition (which has so far been very animated) should produce the same effect as at-last sales, when the jexteßsive operation completely ruled the' market. . Although stocks in dealers' hands as a rule are i light, some few are heavily stocked, and rorri Hud(iersfield com; laints are made that wool from last sales leaves no satisfactory profit. Fully 26,000 bales have been sold to date, merchants, with, very few exception?, selling at market rates. 13 Grresham-street, London, 25th July. 1863. Messrs Dalgety and Co., report the third series of Colonial Wool Bales of the present year, consisting of:— Catalogued .to 25th. 27,534 bales Australian and Queensland 5.809 30,976 „ Victorian 11J621 9,060 „ Tasmanian ... 2,185 | 13,907 „ Adelaide .-.. 4,778 120 „ Swan River ... ' ... 11 11,876 „ New Zealand ... ... 3,352----10,727 „ Cape of Good Hope .. 2,524 104,200 bales ..... .. bales 30,350 Commenced on the 16th instant, and will extend to about 26th prox. We are unable to quote any decided advance on any description, unless it be New South Wales wool, which had previously suffered more than other sorts, and now shows some recovery. Victorian, Tasmatiian, South Australia, and New Zealand wools are firm at the closr ng grates of last sales, but scoured wools hardly maintain, those quotations. There is good competition both by home and foreign buyers, and the sale are proceeding with good spirit. The condition of ordinary Tasmtmian wool shows no improvement, the same defects of assortment and waste being apparent, and shortness of staple in many cases aflects its value- Choice marks maintain their reputation and are fully appreciated.' A considerable portion of Nrw Zealand wool is-also ' inheavy and dingy condition.. Other descriptions, as in May. The prospects of an early and abundant harvest are generally very good; and the state of the money market satisfactory. The political aspect of affairs in Europe causes some apprehension on the Continent, while.the deplorable contest in America continues to affect that unhappy Republic, and to sap all its sources of prosperity. The scarcity ot cotton has wonderfully enhanced the value of coarse English wool, but has no favorable effect on colonial descriptions. ' Trade in the woollen districts, however, is healthy and active, and demand keeps fair pace with the supply. . ■, ■ . — ■■ ———o— — THE MONEY MARKET. With regard to the general course of the trade of the United Kingdom, encouraging indications are not wanting. Notwithstanding the exceptional state of the cotton interest, the general exports are equal to those for the corresponding period of last year and of 1861, while on a comparison of the export movement for the first five months of the present year with that for the same period of the two previous years, the .difference is largely in favor ot 1863.The accounts from parts of the kingdom being to j the effect that owing to most favorable weather there |is every prospect that the yield of the crops will be I fully equal to the average, and that the wheat crop will be especially good, the corn market has been very flat, and the sales effected have been afc declining prices. The Money Market has been generally steady since our last report at the Bank minimum—viz., 4 per cent, for short-dated paper, and at 4J to 5£ per cent, for four and six months'bill3. ; , Tenders were received on the 10th July by the Union Bank of Australia for L25,0Q0, 8 per cent, debentures, haying 14 years to run, tor the province of Wellington, . New Zealand. The biddings amounte Ito L 90,700, of which L3tf,500 were above the minimum of LllO. Those ranging between Llls Is and LllO 7s6d were accepted in full, and L 1,900 was allotted to a tender of Llld ss. ..! .. . j Mr. John Bathgate, agent for the Union Bank of Scotland in Peebles, has Vesn appointed the colonia manager of the Bank of Otago (Limited), and Mr.

Alexander Grace, for some years one of the branch managers of the Sou.li Australian Bunking Company, has been appointed the secretary in London. Mr. Henrj* E, Gienny, the accountant for the Dunedin office, has left for Otago, to make arrangements for commencing business o,i the arrival of the manage. At the meeting on the 6th July of the proprietors of the Union Bank of Australia a dividend of 8 per cent, was declared for the half-year, making a total distribution for the 12 months of 16 per cent., against 14 per cent, fur the previous year. The chairman remarked that the position of the bank had never been more satisfactory. 'J'lie report was adopt* d. The Stock E.'.ehnnge committee have agreed to r.llow the shun-s ot the Bank of Otfigo to be qucted in the daily list. Up till this week they b.ave appeared only in the semi-weekly list.