OTAGO COMMERCIAL REPORT

Wellington Independent, Volume XVI, Issue 1703, 28 February 1862, Page 3

OTAGO COMMERCIAL REPORT

Colonist Office, Feb. 20, 1862

Notwithstanding 'the unfavourable state of the weather during 1 the early part of the week, there ha£ been a fair average of business doing, and prices generally remain firm. There has been a tendency downwards in the quotations for timber, owing to ihe abundance of supply: but as building 1 operations are going on with increasing rapidity, ihere is no prospect of a permanent decline. The cargo of the Albatrass, from Auckland realised fair prices, and that of the Jupiter, from the same port, was disposed of at an average of 265. Scantling 1 may bequot ed at an averags of 20s to 21s ; boards 225. to 235. Auction sales of timber have been well attended.

Potatoes have 'greatly declined in price. Owing to large arrivals from the nor'tb, they have fallen from £14 to £6 10s per ton. The provision inaiket, however, is deficent in several articles of ordinary consumption. Good bacon and hams are very scarce and much in demand. Flour is steady, Prices for best Adelaide, brands, £16 10s to £17 10s per ton. Millers quotations continue the same.

Large quantities of wool are coming to hand, but it is difficult for groweis to place at satisfactory prices. There is reason to fear a decline of at least 2d on the English quotations for November.

There has been some activity in transoctions connected with real estate, and landed property is still on the rise. Several sales have been effected. Rural land at Hawksbury realised £3 10 per acre ; and another lot of 100 acres at Taieri Beach sold for £2 1 5s per acre. A suburban section, not very favourably situated, changed bands at £5 per acre. A town section in the outskirts of the town, with house, £500; another for £250. Sections of a quarter-acre, adjoining town belt outside, are valued on the average at £30.

Land between Knox Church and Valley Bridge, 20s per foot.

At Port Chalmers, leaseholds of sectiuus are ruling from to £200 per annum. There is a good demand for money, and in vestments are readily made at 12^, and 15 psr cent with good security. House accommodation is still totally made qoate to the demand, and rents are still tending upwards.

Our advices from the neighbouring colonies display no material change in the Australian markets. In Melbourne, however, provisions of all kinds, are higher than usual. As with us, hams and bacon are scarce, good samples not to be had at any price. There seems to have been an unfavourable impiession gone abroad relative to the prosperity of our diggings. Between 500 and 600 diggers from this place arrived at Melbourne on the Blh, and probtbly their report was founded upon unfortunate personal experieuce. In consequence the ~Lady Bird was taken off the birth, not being able lo Hl] up. But as the Aldinga, arrived at Melbourne just as the Oiheo was leaving the wharf, this unfavourable impression would be speedily removed.