CALIFORNIA.

Otago Daily Times, Issue 782, 20 June 1864, Page 4

CALIFORNIA.

We (" Southern Cross") have San Francisco papers to the stb April. The following is from the. "Alta California" of the previous day (Monday), 4th April :—

Saturday evening, 2nd April, 1864. The volume of trade transactions for the week has been much below the averae;e. With the exception of an active demand for bags and bagging, and some considerable inquiry for domestic liquors, movements from first hands have been on a limited scale, while jobbers hive been less busy than usual. The market for breadstuff* and grain has been unusually quiet throughout the week, with aggregate transactions scarcely sufficient to make a respectable showing for one day's business. Notwithstanding, however, the dullness of tr-nle, holders are nominally demanding piices prevalent a weeks or ten days siDce, but buyers hold back in the expectation of being able to make better terms, which expectation - from the rains we have recently had, and the indications of more to come—may be considered a very justifiable one. As far as we can learn, no sales are being made worth reporting.

The "Southern Cross" of 7th June makes th 9 following extract from the '•'ranc^-co " Mercantile Gazette and Prices Current" of the Ist of April, which had been supplied by a mercantile firm in Auckland.

That journal, in its " Review of the market for the ten days ending 31st March, 1864, v says : —

, Since our last reference, complaints ofcrtd, blighting winds have reached us from the agricultural portions of the state; but so far as we have authentic information, no very serious damage has been occasioned by them. In .some pans of the country the crop^ have seldom been better; in others the harvest will be <wup;iratively light; but in the aesregate we shall have enough and to spare, and the surplus of last year will suffice to keep us out of the hands of speculators. The weather continues favourable ; fine showers have fallen, and from present indications we have the promise of an adequate supply for all agricultura1 purposes. We Jearn from the A'lHcticside that in some portions of the graiugrowing districts the severity of the weatuer haa killed out the fall .crops, and the prospects there are less encouraging than nsual; while th' scarcity of labor, owins? to the heavy drain for military purposes, is seriously enhancing the expenses of production. The following is from the same journal:— DOMESTIC PRODUCE.

Since our i«sue of 'he 22?fl March we ha^e been favoured wiih copious rai'is throughout the State, rendfrint; immense benefit to the tniuers. Our advices from the interior concerning the grain crops are very conflicting; still, judging from present appearances, we shall have perhaps two-thirds of an average crop of wheat which, adde'l to the large surplus now remaining on hand will, we think, be quite sufficient to keep prices within moderate bounds for ayear^to come.

It is too early to speak of barley and oats, but the prevailing impression is that these crops will be uclow the average. The hay prospects are rapidly brightening. Spring crops of fruits, berries, vegetables, and the like, promise abundantly. The export demand for breadstufls for English account, has ceased, owing to the high prices rulicg. There however continues to be a demand lor (Yew Zeaiand, aa well as for other markets in the Pacific. „ Uur market for breadstuff* has been wmwially quiet for a fortnight past. The speculative fever raging the first week in March subsided on the first appearance of rain, and the frequent showers since have been at least sufficient to check all wild speculation. The few sales now recorded by us are chiefly for export to foreign markets. Our farmers have not been inclined to press their wheat for sale of late, preferring to wait the probable result of the threatened drought, and now that the prospects of drought have measurably vanis-hed, they are disposed to enter the market with caution, offering to sell moderate parcels of choice at 2 cents per pound. The offering has been accepted to a limited extent, as will be seen by reference to sales recorded under appropriate head. . . w Bailey has been in fair request for inferior marts at full prices. Oats sre in very light stocks, and the parties executing light purchases have been obliged to exercise more than usual care in completing orders, buying the small cargo from at least fifteen different parties in order to secure the quantity required. Hay has declined, owing to the improved prospectsof the growing crop. Beans are a perfect drug in the market, the consumptive demand, like that of rice, having apparently iallen off greatly, which is in a measure attributable to the very low prices of superfine flour ruiing for a twelvemonth past Potatoes are lower, and prices quite nominal.