SYDNEY.

Colonist, Issue 6, 10 November 1857, Page 2

SYDNEY.

The Empire of October 20th, says:—From China the quotations for tea still, continue very high, but advices are to hand of several vessels being about to load, as new chops were coming to market. There were several reports of teas having experienced a very considerable rise in Melbourne before the departure of the steamer for this port, but we have not been able to trace the reports to any authentic resource. The trade in Sydney, are very cautious in their purchases, and do not show any great wish to increase their stocks at present rates. The spirit circulars transmitted by this mail record great firmness in brandies. Messrs. Martell continue to decline taking orders for 1856 vintage, a rise of 6d. to Is. per gallon is reported. Rums have experienced a slight decline. Geneva maintains its rates, more or less. ■ The decrease in the quantities of spirits exported in the-month of August will probably have the effect of giving. a rallying tone to the market here. We hear of small sales of Martell's brandy to-day at 17s. In the Gazette of the 21st instant, the Government advertised for tenders for Terminable Debentures to the amount of 50.000 Z. on the following terms:— 25,000 Z. bearing 5 per cent, interest payable in Sydney, and the principal to be repaid in Sydney only, on the Ist July, 1862 ; 25,0G0Z. bearing 5 per cent, interest payable in Sydney or London, and the principal to be payable in Sydney or London on the Ist July, 1873. The tenders will be received until the 31st October. On this subject the Herald of the day following remarks :~u This will, to a certain degree test the market for these securities, which at present are very dull of sale. It is a new feature making the interest payable in Sydney only, and one which we do not think will cause an increased demand for debentures. The great advantage in the interest and principal of debentures being made payable in Sydney or London, is their usefulness for making remittances to and from England. However, as both descriptions of debentures are advertised for, we suppose which ever finds the most favor with the public will be the security adopted by the Government." •