COMMERCIAL.

Wellington Independent, Volume XV, Issue 1327, 26 February 1859, Page 6

COMMERCIAL.

During tbe month the arrivals from England have heen unusually heavy, so that oiir stuck of imports have been considerably incfeastod. The Clontarf and Kinnaird are loading wool fo' London at tbe unpr.-cedented low rate of three farthings a pound. Notwithstanding that our last ad-ices from Atistralia aod Europe arc favourable, trade here is generally dull, and all imports are heavy of sale more especially Eastern produce.

Our money market .may.said, lo ho tigUt. There, is no money offering ou mortgage, and considerable discontent is manifested at the steps taken by both Banks, about a week ago, in raising the rate of discount on four months bills to ten per cent., but we are happy to find it does uotseriously interfere with business. It seems odd that whilst we have lata news from Lngland uf a reduction of discount to 2J per cent, and of money being abundant there aud in Australia, we should have to notice an advance being made here. Our readers here and elsewhere can draw therefrom their own inferences. There is little question, we understand, but, that lately considerable sums have beeu expended in tho purchase of land, but we are generally assured that at the present moment there is but very little of anything like acnoramodation paper in circulation among- 1 ! people ia trade. And at the same time lhe price of wool seems to have made a permaiit and large advance, and the price of flour, timber, nnd oilier produce are Kood, with a steady increasing demand from other ports.