The Northern Daily Times.
Liverpool, Merseyside, England, 1857-01-10 00:00:00

7HE FRUIT TRADE.

CURRANTS: We have had but little business stirring in
this article since the new year came in, parties having
bought freely last month, do not appear to have worked
off their stocks, and it may take a few weeks to get them
again in the market as buyers. Fine fruit would sell even
now, but at present there is little offering. The sale of
the cargo of damaged currants, which has kept our buyers
aloof from the market, took place yesterday, and for such
as were not much injured very nearly the price of sound
was paid, and the rest sold above their value, so that upon
the whole we do not think it will have much effect upon
the market for sound fruit. The imports since our last
circelar of the 12th ult., have been 1,260 tons, and the
exports and consumption for the same period 900 tons,
thereby showing onr previous stock on hand of 3,640 tons,
has only been increased by about 360 tons, making our
present stock about 4,000 tons, of which 100 tons
are old and inferior fruit. This may appear a rather
large stock, but as we expect our supplies, (with the
exception of 700 to 800 tons on the way,) are nearly all
received, we see no reason to anticipate any great altera-
tion in prices, but if we are required unnecessarily to
press the fruit upon the market, whilst there is little or
an demand, the present prices cannot be sustained, and to
wh,t extent the reduction may reach it is not easy to
conjecture.
RAISINS : The importations have not been to any extent
since our last report, and as the consumption for domestic
use almost entirely falls upon Valencias, we shall soon
find the stocks held here very inadequate to the demand,
and we may have to look to other markets for a supply,
so that even at the present prices we consider them a safe
purchase. Muscatels are still sluggish, and the high
prices paid by importers this season are not likely to
induce the trade to purchase beyond their immediate
wants. Sultanas still maintain their price, but anything
like an extensive supply would have a decided effect upon
present rates.
Frog : Our stocks are now so much reduced that it
gives a firmer tone to the market, and latterly higher prices
have been paid for the middling and finer qualities.
Malagas are nearly all cleared off.
NUTS : Barcelonas only going off in small quantities, it
will require some time to clear off our present stock, and
if arrivals hereafter come in extensively, we anticipate a
reduction in price. Messina and Naples partake of the
same dulness, and scarcely any sales making. A few new
Brazils offered yesterday and sold at Our quotation ; old
almost unsaleable. Chesnuts are being forced off as they
arrive, and much lower prices accepted than previously,

. .
ORANGES AND LEMONS: We continue to receive abuil.
dant supplies of all descriptions of oranges, but with all,
prices are tolerably supported, and should the weather
continue favourable for consumption, we expect prices
may improve a little. Lemons are in better demand, and
as our former heavy supplies are now nearly cleared off
rather higher prices were obtainable.
FLETCHER & FIRTH.

THE SUGAR TRADE IN 1856,

(From Messrs. Trt4eman and Rouse's Circular.)

The past year has been characterised by great and rapid
fluetuetions in our produce market, and at times by gre A
excitement, the result, mainly, of the transition from war
to peace, and the absence of correct data and experience to
indicate its probable effects. Those articles which had been
raised in value by the war, such as rice, rum, linseed,
tallow oils, hemp, &c., fell in the first four months of the
year 30 to 40 per cent; but it was soon discovered that
exaggerated estimates had been made of the supplies whicl,
would be set free by peace, while, on the other hand, its
stimulating effect upon consumption had bee? overlooked ;
prices therefore speedily rose, and in some cases have almost
regained their war point. Linseed fell from 783 to 483, and
is now 63s per quarter ; tallow from 68s to 455, and is now
59s ; cocoa nut oil from 46s to 335, a►:d is now 503 per cwt,
and so on through the list, rice, from the over-
whelming stock, being almost the only exception to
the general recovery. The most important article of
colonial produce, sugar, from causes foreign either to war
or peace, between January and March declined 22 per
cent, and from that point has advanced fully 50 per cent.
The merchant has doubtless found it difficult to regulate his
orders abroad, so as to keep pace with such great and rapid
changes; but to those who held their goods during the
decline, the past has been a year of large profits, while eve❑
those who sold throughout at the price of the day mnst
have realized a liberal margin upon their operations.
The vane of money has also fluctuated considerably ; at-
commencement of the present year the bank rate of dis-
count was 6 per cent for short dated paper, and 7 per cent
for bills having more than GO days to run ; this rate con-
tinued till May, when it fell to 5 per cent, and in June to
4a. On the let October it was raised to 5; on the 6th
November the discriminating rates of 6 and 7 per cent were
again in force ; on tho 10th of that month there was a
uniform rate of 7 per cent, and finally it is now 6 per cent.
The bullion in the bank coffers on the let January, 1856,
amounted to £10,820,143; on the 3rd July, when it
reached its maximum, it was 13,073 758 since then it has
been as low as £9,530,152, v'z, on the 13th November, and
by last week's return it was £10,692.000. The imports during
the year have amounted to upwards of £30,0000,000, the
whole of which has percolated through the country as through
a sieve. The movements of the precious metals have been
affected by a variety of causes, some of them quite
extraneous to the ordinary operations of trade, and they
have been much discussed in monetary circles ; any
lengthened consideration of them hero would be out of place.
The demand for silver for exportation to India and China
is referrable to the balance of trade with those countries
being against us ; and as it is likely to remain permanently
so, this demand for silver will continue, and gold will be
sent to the.continent to purchase it.
_ _

The general trade of the country ins, in spite of dear
money, been very steady throughout the year ; and since
the declaration of peace a great impetus has been given to
the foreign demand for our produce and manufactures ; the
declared value of the exports under this head from the
United Kingdom, in the eleven months ending 30th Novem-
ber, being £1(.5.845,631, against £86,847,280, and
£80,738,568, in t!Jr corresponding periods of 1855 and 1854
respectively, The cotton, woollen, linen, silk, iron, and
timber trades, have all shared, more or less, in the general
prosperity ; and on the whole the results of the year 1856
have fully realised the hopeful view which we ventured to
take of its prospects twelve mouths since.

The present year opens with high prices of nearly all the
loading articles of consumption and the raw materials of
our industry, which will naturally suggest coulion, as in
the chapter of accidents a decline is more likely to take
place than an advance; but as re,pecfs colonial produce it
seems to be now an established fact that the production of
the world is barely adequate to its wants ; any impot t.r-A
fall will, therefore, probably be followed by a speedy
reaction, and for this reason we anticipate that 1857 will
be marked by as great fluctuations as its predecessor. The
rate of interest is likely to remain high, for the immense
number of new foreign and domestic enterprises, especially
the former, will absorb all the available floating capital ;
but, on the ether hand, its great diffusion amongst the
population, to whom the carrying out of these schemes will
give increased employment, will stimulate the consumption
of all kinds of produce and manufactures, and experience
has shown that when this is the case trade may be
extremely prosperous even in conjunction with a high value
for money,
SUGAR : It will not easily be forgotten, that the vlident
speculation in sugar in the autumn of 18.55 was followed by
a great and sudden reaction and stagnation in the market,
which continued until March of the past year. It then
became evident that the production would be barely
adequate to the European acquirements ; the continent,

which, under the influence of our high prices,lad exhausted
its stocks by large shipments to this country, began to draw
supplies from hence, 'and prices showed a tendency to
improve • this has continued with occasional pauses ever
since, and, taking middling West India as a standard, we
close the year at an advance ref 123 per cwt. from the lowest
point. The imports of the past year have exceeded those of
1855 by 24 800 tons ; the Mauritius has contributed an
excess of 8,800, the British East Indies 14,900, and other
countries, 4,400 ; the British West Indies alone will chew
a deficiency, and that to the trifling amount of 3,300
tons. The quantity on which duty his been paid in the five
principal ports of Great Britain, exhibits a falling off of
20,600 tons as comekreel with the previous year, being
321,500 tons against 342,100; which figures, for the pur-
pose of comparison, may fairly be considered to represent
the consumption, there having been no inducement for the
country grocers to hold stocks, and that they are very bare
at the • present moment is sufficiently evidenced by the
unusually large deliveries' from the ports at this seasen of
the year, averaging for the month of December, 4,200 tons
per week. The Consumption of the United Kingdom in
the eleven months ending 30th November, was, according
to the Board of Trade tables, 350,800 tons against 372,690,
ehewing a deficiency of 21,890- tons. This considerable
falling off must be mainly ascribed to the consumers having
befit induced to restrict themselves in the Ire of sugar
during the reign of high prices, and when prices fell they
did not return to it; the bad fruit season has also doubtless
had somewhat to do with the decreased consumption. On
the other hand, the exportation has exceeded that of the
previous year by 28,200 tons, so that altogether the
deliveries from the warehouses have reached 364,200 tons
against 366,600. The present stock in the ports of Great
Britain is 57,200 tons against 70.800 on the 31st Dec.,
855, and 100,800 in 1854 ; in the principal continental
enterpots on the 30th November, the latest period to which
we have returns, the stock was 16,070 tons against 8,600,
and 34,710. In the United States the stock is moderate,
and in fact nowhere but in Cuba is there any surplus on
band ; in Cuba the crop remaining over unshipped, on the
29th November, was 17,000 tons larger than at the close of
the previous season. _ _

The prospects of supply are generally good, Louisiana
being almost the only exception to the favourable reports
from producing countries ; but in consequence of the great
deficiency in Louisiana, the Americans will compete with us
even more keenly than heretofore in foreign markets. Their
consumption is rapidly increasi-g, and ,now fully equals, if it
does not exceed, that of the United Kingdom, and as it is
not improbable that the duties in the United states will be
altogether abolished, or at least grealty modified this year,
their demands will in such cases be still more exigent. As
it is pretty clear from the experience of the past two years
that the production of sugar is barely qual to the demand
for it, we feel justified in anticipating, upon the whole, a
continuance of high prices, although there may be periods
of depression from the supply being in excess of immediate
requiremew s,