The Sun.
London, England, 1854-10-12 00:00:00

MONE 'V M A 11:: E ii.

COMMERCIAL GENCE.

CITY, TWO o'CLOCK.

The cotton market at Liverpool yesterday was
heavy. sales, 7,000 bales. The Railway Share
Market was better.

After remarking upon the stocks and deliveries
of currants, Messrs. Witherby and Hanson state :

" The above important facts, combined with the ab-
sence of the obstructions to last winter's trade, (exten-
sive strikes and exorbitant high prices of bread and fuel)
naturally induce the opinion that there will be an in-
creased demand for currants this season. The stock in
London on 30th Sept. is ascertained to have been about
5,000 tone ; of this quantity the far greater portion is
low 1852 fruit. The 1851 fruit consists of remnants of
parcels, much of it Trieste fruit, and but little of it fine
Patna and Island, some of which, however, retain their
original bloom and freshness. The whole stock of 1851
fruit being inadeqyate to meet the exigencies of a Christ-
mas trade, we shall require a large importation of new
fruit of good and fair quality.
"From accounts on which reliance can be placed it
would seem that the crop in the Morea and Zantu is a
failure as regards good fruit ; at Cephalonia the produce
is about the same as last year in quantity and quality,
but better probably in condition. Of the latter, this
port is not,likely to receive any for some weeks to come,
unless via Liverpool, whither two steamers are now afloat
from Cephalonia, the Liverpool houses having this year
got the start.
" The only noticeable feature in the market is a better
demand by grocers for good 1852 and 1853 fruit at low
prices, and such. is likely to continue. Good 1851 bar-
rels have been sold for export at 102 s. to 105 s. 6d."

The high price of grain in Belgium, considering
the average harvest, still presses upon the
poor of that country, and excites the con-
troversial remarks of public writers. These, in
endeavouring to account for an apparent ano-
maly, do not take, in many cases, the same
view as ourselves. Sufficient allowance has not
been made for the fine weather, of which the agri-
culturist naturally takes advantage, to the neglect
of thrashing out and sending his corn to market ;
neither do we consider that the prohibition on the
part of Russia to export grain will be of perma-
nent importance, seeing that the Danubian 'pro-
vinces are again free from their control. The
greatest support to prices will be derived from the
approach of winter, which always impedes supplies,
and the deficiency in the maize crop of the United
States. The following reflections by a Belgian
writer give an unfavourable view, but although
we think it somewhat in extreme, there is much

therein that deserves attention :
" The question of the sustenance of the people is
paramount to all others at this moment. It is said. and
with some reason, that the granary for corn which
Western Europe possessed at Odessa is now lost for a
considerable period.
"It will neither be in 1855, nor even in 1856, that we
may expect arrivals from the Black Sea, even if peace
should be proclaimed next year. The Wallachian pro-
.

vinces may be said to be completely ruined ; the harvest

of the present year will hardly suffice fur the wants of the
inhabitants, for many districts have not been resown,

the Russians having plundered the people of their oxen
and beasts of burden, or forced away the labourers to
supply the exigencies of the army.
"Besides this, the large masses of Turkish and Allied
troops, which have: been quartered in Bulgaria, have
also consumed vast quantities of provisions.
" In Bessarabia, Podolia, and Cherson, the enormous
quantities of Russian troops which have been there col-
lected for more than a year, and may be a considerable
time longer, will have consumed an immense quantity
of corn ; and how much more will be destroyed by the
continuation of this terrible war in those countries, I
Who knows the fate in reserve for Odessa and its vast

magazinesofprovisions, as well as those at Galatz,

Ibrail, and Akkevaran?
" Suppose peace be established, will not the agricul-
turist have suffered? How much time will be requited

to repair all the disasters caused by the war, so -aq to

replace agricultn. e in its n( rmal st Ae, and bring_business
again into its regular course ? We should Hay at least
three or four years after peace has been declared. We

must, therefore, for this period at least, no longer cal-
culate on any cereal importations from Taugarve or
Odessa.

" If these arguments be true, as they appear to us,
the normal state of our commerce in corn is destroyed.

These principles of economy which might have ha-d
a
eart:la relative value a year ago are no longer so, at
least as far as this trade is concerned. 'nese countries

which had a deficiency of corn went to Odessa to supply
their wants, They cannot do so at present, but
must be compelled to seek those cereals elsewhere, at
any price when the markets will offer some advantage.
Belgium will, therefore, be one of the first markets to
draw the attention of speculators.
"Freedom of trade will restore to us what has been
taken away say the partisans of that doctrine. But

wl4enee are we to expect these arrivals ? One may

reply from America and Egypt. We will only make
one remark on the subject, which is that 100,000 hecto-

litres (quarters) of corn form from twenty to twenty-five
cargoes, a very large figure certainly; still these 100,000
hectolitres are not sufficient to supply our population
longer than four or five days. By land carriage
we may have the same amount taken from
us monthly. or rather fortnightly. What then
—must we not have to buy of the foreigner at per-
baps at from four to five and-twenty per cent, above our
selling price, provisions inferior to these which we have
ourselves got rid of? It is true that speculators and our
commercial men would find it to their interest to encour-
age such transactions from the great profits that would
arise ; but here we must remind these parties, that when
the question is to avoid a public calamity, such as a
dearth of provisions for the public support, speculators,
as well as our commercial gentlemen, should make up
their minds to moderate gains.
"In all cases exceptional cases require exceptional
measures, and certainly, as we have just proved, this
war in the East has brought about quits an anbormal
state in respect to the grain trade ; the remedy, there-
fore, is by public consent, the temporary prohibition to
our cereal productions." _

Telegraphic despatches have just reached Lloyd's
from Liverpool, that are of a very distressing
nature. We gather from them that the Arctic
steamer, on her voyage from Liverpool to New
York, came in contact on the 16th ult., about 65
miles N.E. by E. of Cape Race, Newfoundland, with
the French steamer Vesta, and in a short time the
Arctic sank, 45 of her passengers and the second
mate and crew, however, being known to have
escaped in two boats. It is fervently hoped that
that this report, necessarily imperfect, will be fol-
lowed by intelligence of the other passengers having
escaped, otherwise there will have occurred an
awful sacrifice of life, the number on board
being 185 first-class passengers, 75 second,
and 130 in the crew. The accident seems
to have occurred in a fog, and vessels which
had gone from St. John's, Ne•.l foundland, in
search had not seen a vestige of the Arctic.
With regard to the Vesta steamer she was on her
voyage from St. Peters to Grandville, and having
thrown her cargo overboard she made for St.
John's, but 15 persons who left her in a boat, out
of 140 on board, were supposed to have perished.
An accident to the splendid steamers of the Cunard
lino is so rare that this direful casualty has natu-
rally occasioned much excitement.
At the half-yearly meeting of the Royal Mail
Steam- packet Company, this day—A. Colville,
Esq., in the chair—a report was presented of a
satisfactory nature, the increase of freight and pas-
senger money having been great, and the 'whole
surplus of the working account being 112,207/.
12s. 5d., that is, 47,0111. more than was made
at the corresponding period of last year. The
Company had now 24 ships, four of which
would be disposed of. There had been no reason
for complaint against the Company's officers, which
had, on the contrary, met with general approba-
fion. The dividend was at the rate of 21. per
share for the first half-year of 1854. The report
was under discussion at the time of our going to

press.
The English
than it was yesterday morning, Consols being 95_
to i for Transfer,
the
to g for Account. There
has been a checli
and
that the Bank .tno upward tendency by the
might advance its rate of
discount ; while it appears that the National Debt
Commissioners will have
to invest all their sur-
plus in Deficiency Bills. The New 3 per Cents.
have been 941 to g and the per Cents. 931- to
3 i.
94. Exchequer Bills have been 4s. to 7s. prem.,
and India Bonds 10s. prem.
Foreign Stocks are generally very
quiet, but
Turkish Scrip is up to at and 3:g preuii
Sardi-
nian Bonds have been at 881.
Peruvian u u i
44 per
Cents. have realised 71i, and Brazilian 011 ( Stock
has been at 99 ex dividend. Dutch 24
per Cents.
have been quoted 62.
The lust week's railway receipts ascer p tained u
to this day are in round figures as under :-- '
1854. 1853,
Great Western 4:23,986 £23,092
57,416 53,810
North-Western
23,936 23,022
South. Western
Brighton
South-Eastern 20,125 20,217
12,117 11,262
Caledonian
Great Northern 24,026 18,750
20,115 18,568
Lancashire and Yorkshire ...
Railway Shares are looking up, and the traffic
returns above given, contrast very favourably
with the corresponding period of 1853. The Great
Northern line has advanced more than the
others which are rather firm than dearer.
North Eastern have been better. Caledonian
have been heavy. The French lines have heed