The Sun.
London, England, 1847-05-11 00:00:00

VI N„
. —#•-•••,- --:--1 I..._—_-;:iz,:
THE CORN TRAK/X:l4 -,r-- *'-
(From the Mark-lane Expr sae), k.:::( -4 ,
Great excitement has prevailed iu lie-grAM OltdtptsiL7-L7'4
t
during the week, and at no former p '-'4l%ooiiilika.,--%, er ?
duration since harvest has so import )2a rise i?'e._eit. ,
established in prices. The excitement has iiiitebeeia mit-- ''-
hof speculation, but rather that of alarm; an t1d20417331
..F
supplies
ntchaaunsebdy more by the extreme shot 131c141's
as
any unusual extent of deitiam— b "
now admitted on all hands that the stocks of corn
remaining in the hands of the growers are fearfully
small ; and it has long been notorious that the mer-
chants, millers, and dealers have been buying from hand
to mouth, having little or nothing to fall back upon in
case the weekly supply proves inadequate to satisfy the
consumptive demand, to which point affairs appear to he
rapidly approaching. Without something like absolute
scarcity such prices as are at present obtainable are
•eldeux or never reached, even in times when capital is
abundant and speculation rampant ; but for . wheat
:se rise progressively from about 445., at which, good
qualities were selling immediately after harvest, to
945., the present worth of the same descriptio,l,
indicates but too plainly the position the country must
,e in with respect to stocks. Where the upward move-
&lent will end it is totally impossible to foretell; and if
'merica and Russia should be enabh d to fur-
.lish fully the amount of bread stuffs the most
,anguine dare to calculate on, even in that case
, moderate prices are, we fear, out of the question for
"tnonths to come. The probable result of the n, xt har-
vest has hilherto' been wholly disregarded; the grand
imint for consideration having been how sufficient tood
s to be obtain, d to feed the people until such time as
the produce of the present year can possibly be avail-
able. If a large portion of contirental Europe we re ITOt
unhappily in precisely the same plight as Great Britain,
there would be less reason for serious uneainess; but
considering the state of distress already suffered by the
people in France, the interior portions of Germany, and
the Netherlands, we may well feel uneasy how our own
inhabitants may fare during the next four months. The
•elvices, from all parts of the kingdom are of the same
character; short supplies anti rapidly rising prices have
characterised the trade at all the leading provincial
markets. •
At Liverpool great pressure for money appears 'to
have been felt, in consequence of which sales of flour
have in many cases been made at a considerable sacri-
lice, and even on Friday this article was much cheaper
there than with us. Good brands of Western canal
were offered, in the beginning of the week, at 425. 6d.
per barrel, and might, in particular instances, have been
bought even lower for cash. The exciting reports from
Siark-lane had, however, the effect of causing -a subse-
qaenfrise, and on Friday there were few sellers below
445. 6d. per barrel. Wheat was quoted 6d. to 9d. per
701 b. higher on Tuesday than on that day se'nnight, and
on Friday a further rise of 4d. to 6d. per 701 b. was
established. In the foregoing remarks we have spoken
more particularly of wheat and flour, but the advance
in the value of all kinds of spring,corn has been fully in
proportion with that on wheat. Barley and oats appear
to be nearly exhausted in many parts of the country,
and there can be no doubt that districts which have until
quite recently been sending supplies of these articles to
London and other large consuming markets, will have
to draw, in their turn, from the ports where foreign
arrivals may take place.
From Scotland we learn that the continued rise in the
south, and a gradual reduction of the stocks at the lead-
ing markets, had led holders of what grain remained on
hand to insist on enhanced rates ; but the rise has
hardly been in proportion there to that established in
the English markets.
In Ireland affairs appear also to have remained com-
paratively quiet; the quantity of Indian corn at one or
two of the principal ports being still heavy, and the
anxiety to get rid of some portion of the same had in-
fluenced the value of other grain.
The arrivals of wheat coastwise into London have
again been very small, only 24,162 quarters having come
to hand during the week ending this (Saturday) evening.
The quantity exhibited at Mark-lane by land carriage
samples from the home counties has been equally unim-
portant; indeed we do not recollect to have seen the
market in so bare a state as on Wednesday and Friday
for a long time past. Factors have, therefore, had no
difficulty in establishing a further advance, the absolute
wants of the millers having obliged them to buy without
much regard as to price. The business done on Wednes-
day was at rates Cully 2s. per quarter above those cur-
rent in the beginning of the week ; and for
the few small parcels on sale on Friday 55. per
quarter more was obtained than similar quali-
ties were sold at on Monday. Foreign wheat has met
wite a very lively demand, not only for local use but to
forward to different parts of the country, where the
stocks of home growth are too nearly exhausted to fur-
nish the needed quantity. Several purchases have also
been made for shipment to France and the Netherlands,
and the granaried stock has been reduced below 20,000
quarters. Meanwhile the arrivals from abroad have been
tolerably good, but the fresh supplies have met a decided
preference over the stale warehoused parcels; sales have
been easily effected of nearly all that has come to hand
from on board ship. The prices obtained have been so
high and irregular that we feel it difficult to state the
exact advance, but some notion of the value of foreign
wheat may be drawn from the fact, that the tolerably
good qualities of new Lower Baltic red have been sold at
94s per quarter. . .

TOwn-itade flour has been taken to some extent during
the week at the recent enhancement, and country marks
have likewise commanded full terms; whilst in American
a large amount of business has been done at from 445. to
48s. per barrel. Even at these rates the latter is rela-
dye cheaper than flour of home manufacture; and the
stock having been reduced to about 50,000 barrels quo-
tations are likely to go still higher.
The quantity of English barley exhibited this week
has been quite scanty; and though 11,807 quarters have
arrived from abroad the supply has not been more than
necessary to meet the inquiry. Some further purchases
have been made for shipment coastwise, and as the malt-
sters and distillers have likewise bought to a extent,
last Monday's currency has been exceeded by Is. to 2s.
per quarter as well for the finer as the ordinary qualities.
Holders of malt have also raised their pretensions,
and the article being really scarce necessitous buyers
have had to pay high terms.
Judging from the very rapid manner in which the
supplies of oats from our own coast and by rail have
lately fallen off, and the increase whieh has at the same
time taken place in the country de sand, we are forced
to come to the conclusion that the stocksof English oats
are nearly exhausted. During the week now about to ter-
minate 16,646 quarters have entered the port of London
altogether ; of which 700 quarters are from our own
coast, 700 quarters from Scotland, 3,098 quarters from
Ireland, and 12,148 quarters from abroad. On Wednes-
day we had a numerous attendance of country pur-
chasers, and though the large dealers acted on the
reserve a good business was done at rates ls. per quarter
above those of Monday; subsequently the inquiry be-
came more active, and on Friday good corn was fully
2s. per quarter dearer than in the commencement of the
week.

Of beans very few parcels have been brought forward,
and in the absence of business of consequence quotations
have remained nominally unaltered. Egyptian beans
were, however, held ls. per quarter higher at the close
than in the beginning of the week.
Peas have been in request for shipment coastwise
and abroad, and the trifling parcels offered for sale have
brought high terms.
Rye has likewise been taken for export at rates not
previously obtainable.
Indian corn has been held several shillings per quarter
higher, which has in some degree checked business ;
still a good many bargains have been closed.
We have advices from New York up to the 16th ult.;
large number of vessels had, it appears, arrived at that
and some of the other leading ports in search of cargoes,
which had had the effect of causing a material decline
in the rates of freight to Great Britain. Owing, how-
ever, to the smallness of the available stocks (the sup-
plies from the interior having hardly commenced coming
forward) the shipments in progress were not very large.
Charters had been closed to load flour for Liverpool at
4s. 6d. per barrel, being but little more than half the
rate demanded a few weeks before. Good brands of
Western-canal flour has realised 7 dolls. 75c.; wheat as
much as 1 doll. 55c.; and Indian corn 95c. per bushel.
Nothing very definite can be collected from the reports
from the other side of the Atlantic as to the probable
quantity of breadstuffs likely to be shipped during the
summer months, but the general impression appeared to
be that the supplies from the interior would fall short of
expectation.
The accounts from the northern ports of Earope are
not quite so wild this week, hut that stocks of grain are
unusually low all over the Baltic there can be no ques-
tion. From Dantsic we have letters of the Ist of May,
which inform us that the inclination to buy wheat had
subsided, and that for a day or two little or notbingb
ehade
had been
been done. The last operation of importaenacte had
n
on the 29th ultimo, when 110 lasts of_iwneh
high-mixed,
bought at the following prices: F
6d.; fine mixed, of 601 b.
weighing 621 b. per bushel,
light 783;ts, weighing from 571 b. to
weight, 755. 6d.;
usaorter. fre amount ard. The
per ril hadd to 7,853
esxBplbo.r,tasto7fls.whtoea 7t 2as
duringn.
April
had
lasts, of which about seven-eighthsbeen dispatched
to Great Britain.
From Konigsberg we have advices of the [27th
of April ; grain of all descriptions was then very
scarce there, and the want of supplies had pre-
vented business being done. Wheat was quoted from
68s. to 845., according to quality, and other articles
equally high.
noAmitnßalo.stolcnkg,
raonnartyheth3eareof wlllasay littlepricoers nothing,were nearlyan d
the deliveries from the growers had for
some time been
on a very restricted scale ; in which state of affairs
extensive business had been out of the question. There
were then no sellers of wheat below 775. 6d. per quarter,
free on board.
The reports from Hamburgh of Tuesday last are not
of so excited a character as previous advices thence, but
not the slightest reaction had occurred in quotations.
The business done in wheat had been strictly confined
to the purchases made for the consumption of the city,
nothing having been done for export. Good red Marks
and Upland, weighing from 601 b. to 621 b. per bushel,
had realised equal to 84s. to 88s. per quarter, free on
board. Spring corn of all kinds had become very scarce,
and fine heavy barley bad risen to 535. to 545., and oats
to 30s. per quarter, free on board.
From Antwerp we learn that wheat had been sold
at 25 florins, equal to 102 s. per quarter. In Holland
prices were also, according to the latest accounts, very
high ; and in France wheat and flour appear to have
I risen materially.
From the Mediterranean ports the accounts are, or
the whole, less flat than last week. We have Marseilles
letters of the 28th of April ; wheat, after having for a
time been somewhat neglected, had again begun to excite
attention, and for the best Polish Odessa on the spot 625.
to 645. per quarter had been paid. There were still
sellers of fair qualities, deliverable in May, at 585., or ie.
June, at 555. per quarter, free on board.