COMMERCIAL.

Wellington Independent, Volume XVI, Issue 1791, 13 November 1862, Page 2

COMMERCIAL.

The arrival ef tho Asterope, from London, has thrown a large quantity of goods into the market, and as many of them were in great request, a considerable amount of business has been transacted during the past month amongst the wholesale houses. Shopkeepers have been busy laying in their spring and summer stocks, but the lato changeable weather has kept the town aDd country retail trade duller than it would otherwise have been. The Constance may be looked for in the course of a fortnight and the Wild Duck will most probably arrive immediately after, so that the market will shortly be fully stocked with most articles of every day consumption, imported from Britain. The arrivals from Austraiia, have been the Claud Hamilton and Rangatira steamers, and Louis and Miriam, brig, from Sydney, and the Diana from Melbourne, which havo all brought considerable supplies of tea, sugar, and other eastern produce. Tho market is at present, overstocked with teas and sugars, arising probably from the low rates at present ruling in Australia but which, recent advices lead us to believe, are now likely to improve. The shearing season has now fairly commenced and flock masters are busily engaged in preparing the clip for sale or shipment. Considerable parcels of wool have already arrived in port, and there is every probability of the Asterope being a full ship by tho time she is advertised to sail. The last advices respecting the wool market are rather favourable, fair rates being realized at the July August sales there going forward, we do not anticipate, however, that buyers on this side will be inclined to go beyond very moderate rates, as the present state of affairs in America, the distress in the manufacturing districts in England, and other elements more or less affecting the wool trade at home, render it necessary to use great caution in speculating in this article in present circumstances. Reports from most of the country districts, give favourable accounts of this seasons lambing, and the recent showers will have a very beneficial effect on the grass and growing crops. Several cargoes of cattle have again gone south, and butter still rnointains a good price in Duuedin. Bacon, has, however, fallen, considerably in price, which has checked the shipment of that article for the present. The timber trade continues active, and coasting craft in demand. Two or three handy schooners would find ready employment, and it is a pity there are not more vessels of this description owned in the port. The Directors of the New Zealand Steam Navigation Co., purpose forwarding by a gentleman proceeding to England next month, an order for two new steamers, specially suited for the increasing traffic of this and neighbouring ports. The money market is rather light, but we beheve that engagements on the whole are met with regularity — Local Discounts remain as usual, and Exchange on London same as last month' viz., 1 per cent for 60 day bills;