COMMERCIAL.

Wellington Independent, Volume XVII, Issue 1487, 8 January 1861, Page 5

COMMERCIAL.

The past month closes a year, which, in regard to commercial affairs, has been one of the most depressed andj unsatisfactory that this -Province has for a long j period experienced. < A variety oi causes have combined to produce this unfavorable result— the withdrawal of the troops, the absence of a demand in Australia for potatoes and other produce, the fa Hing off in the shipments of timber for the'southernjports, the overtrading of 1858-9, and tlie necessary but somewhat hasty check imposed by the Banks eighteen months ago, the breaking out of tbe Maori war and almost entire stoppage of land purchases, the hostility of tbe General Government to, this Province, and the retention by it of a large portion of' our revenues, and last, but not least, the political dead-lock which has lately, existed in Provincial matters, brought about by the unfortunate election in November, 1867, JVhich has caused a cessation ol all public works, emptied . our houses, prevented many from settling in this Province, and compelled'numbers of worthy colonists to leave and seek their livelihood'in other districts. We feel great ' confidence, however, that tbe year jusl commenced -will see" commercial affairs at tbis port in a 7 much more healthy 'state. The darkest of the night is that which immediately precedes the dawn, and already/signs of improvement are visible. Two fresh detachments of troops have arrived In tbe colony and.additional reinforcements are daily expected, .Which, with proper management, will, we. hope, soon bring tbe war to a satisfactory termination. The prospect of the General Assembly meeting here in April, and the chances of •a new ministry friendly! to the , interests of thii Province-being in power,, will restore confidence, both amongsi the European and Native population. ' Tbe Elections for' the General Assembly •for tbe City have resulted in the return, of the former .members, and looking at it in a purely commercial point of view,; wenave no hesitation in expressing our belieftha.tthe return of the opposing Candidates 1 would have-been' the greatest calamity that could -have befallen this Province. The Superintendent, we ' undeVitaijd, intends forthwith resuming the reclaiming of the land from the harbour.ahd Others .of the most pressing public works, and although . the present Council still shews a- disinclination to sanction such proceedings,,'with three-fourths of , the electors at his backi'be'need not fear that with a future and less obstructive' Council, these and similar acts undertaken for the prosperity Of, the Province, will be <luly homologated- arid, confirmed. There have been no fresh arrivals from England during the past month, nor from Australia witb tbe exception of the mail steamer. The elections, and the usual holidays at this season, have _ept business- very quiet since our last Summary, and transactions have been very limited. Several auction sales of damaged goods, ex " Thames City," have taken place, but prices at these, are no criterion. This vessel is now discharged, but we regret to say there has been a considerable' amount of damage amongst tbe cargo, and we understand there awi likely to be eeveral' serious claim? againstjthe ship To* improper stowage. The.staple articles'are in fan- d»_iand, augafrf_re .very -scarce,.. and the' fivan. Sydney, is, anxiously, looked for. Martell's br;J_dy, Geneva, m, cane, Tobacco, Coffee, Rioe, Liverpool .Soap, Sperm Caridles and . Salt, are all also enquired for, and saleable •at remunerative rates. Station Supplies are now being required, and more activity may be anticipated during the cur-rent-month* The "Wild Duck." is due in the •course often days, and has a large general cargo for this .port, which .will -.mostly .come to a fair market. There is no: other vessel due here before the " John Bunyan,". which wptdd not sail until the end of November j so that ihere is a chance of the', supplies of goods- 'for:. some, time.in this market, being more ih ■ accordance with the -demand. 1 The weather lately has been very favorable for shearing; operations, anidihe wool is coming rapidly into port. !Th© ". Hound " sailed on the Ist inst. a full ship,! and the " Sriaresbrook " will get away early next! month, there being a large quantity, of wool waiting her' return from the couth. , Freights are Id. per lb !, or. double what ibey were last season; and yet there is difficulty in procuring, vessels even at the advanced rate. The .last advices from home of .the wool niarket are .rather uhfavorable,.'especially as regards the great bulk 'of -New Zealand wools, the irregular packing of whicb;!and want of classification, are the .subject of great .complaints. If grbwjers would only-become alivietb the importance of getting up their -.clips better, , : and ( „qarejfully classifying the different, descriptibpsj they would nqt only find it to their- Ow^ personal, advantage, but would confer a bef efifc. on the whole i colony,. -by raising the general 'character of Nevy.fZealanjd woolsi the production, of which is ,' how so jrapidly increasing. Greater caution is being exercised here by buyers this/season, and,lower prices ;are be\ng given, ls." 4|d. to is. 6d.- for well-washed wool, and lOd. to Is. in grease. There is stjU a good demand for fat cattle, and prices are .likely to go higher. The crops are looking well, and large quantities of wheat and potatoes have been sown, this season. The recent rain it was feared would injure the hay crop, but we believe such' of it as was then, cut has been secured "without much damage. Kxchahge 6n London is 1 per, cent for 60, and li for 30 days bills. ; Discbunts remain at 8 and 9 percent for Bills at 3 and 4 months.