The Sun.
London, England, 1849-01-02 00:00:00

THE COUNTRY MARKETS.

CHELMSFORD, DEC. 29.—We have to note a reduction
of lull is per quarter in wheat, with an extremely dull
trade. A similar abatement was necessarily submitted
to in beans, oats. and second-rate barleys. Peas main-
tained last week's prices, with the exception of white,
which, owing to the mildness of the weather, were much
neglected.
'Per Quarter. e. s. Per Quarter. s. s.
Wheat, White, 01d... 47 56 Peas, Partridge
New 46 55 White
Red, 01d... 41 49 Dun
New 40 48 Beans, Tick (new) 25 28
Barley ... 2B 32 Old 2B 32
Chevalier... 30 34 Harrow Tiekii (new) 26 29
Grinding... 26 29 ' Old 29 33
Oats • ... 18 25 Mazagan (new).. 23 26
Malt
CheValier
MANCHESTER, JAN. I.—The extraordinary commer-
cial depression, conjoined with the marked deCline in
the value of railway property, which have characterized
the present year, induce me to present to your attention
a short view of the position of the Railway Share mar-
ket. The evils consequent on the undue expansion of
the railway system are too well known to need recapitu-
lation; but while we must admit there is just cause for
reprehension, we must not forget that public opinion
frequently exaggerates. The principal companies have
been induced to issue a general statement of their affairs,
and though these statements may not be considered so
voluminous and clear as desirable, still much may be
gathered from the information afforded, and much more
may be elicited as 'the companies find it their interest to
bring their position fully and fairly before public atten-
tion. The capital already. expended in railway works,
including loans contracted, amounts to about 200,000,0001.,
and before the contemplated system could be completed,
it is calculated that at least 150,000,0001. more would be
required. It is, however, in the present state of things,
morally impossible to carry this out, and, in all proba-
bility, not more than 50,000,0001. will be further sunk
before the completion ofehe railway system; this amount
being applied only to certain branches or new schemes
p irtially constructed, and which offer a fair prospect of
remuneration, and the expenditure of this sum to be
extended over the next three or four years, or longer,
as required. The formation of railways has been im-
peded and retarded by commercial disasters, and more
recently by political derangements; which have con-
vulsed a great part of the continent of Europe with
anarchy and confusion; our own country has, showelver,
escaped the general disorder, and the impression seems
gaining ground that affairs abroad are assuming a more
settleu aspect. Trade is returning to its ordinary chan-
nels, and expectations are reasonably indulged that the
present year will see a gradual restoration to a calm and
equal degree' of prosperity. Under these circumstances
we may vi nture to hope that railways will present more
favourable prospects, and as their true position becumer,
more known, they will be the vehicle of more geisJal
investment to capitalists. Assuredly as comm3rce im-
provs, traffic must be more developed; and we cannot
look to a permanent improvement in trade without the
conviction that railways must, mere or less, be
.benefited
by such a change. No other sources of investment can
offer more inducements to capital, as from 6 to 7 per
cent., or more, can be realized on several of the old lines,
and shares in the new schemes may still be purchased at
fearfully low rates. I can also strongly recommend to
your attention preference stock, guaranteed tiy she old
established lines, and which yield ;it present from 5,t.. 6
per cent. I shall he glad to be favoured with your corn-
wands. .iy business is strictly, confined to kgitimate
biukertige transactions, and whenevent is practicable, I
prefer to operate for cash. In all cases prompt settle-

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~f,~rcel.---Fr

Grortn

1:, .18, in 3,-„; rt.d,
dit:A), 448 to 538; barley, 288 to 348; beans, Mezagan, 263
to 328; middle and small ditto, 303 to 355; peas, 333 to
36s per quarter.

HADDINGTON, DEC. 29.—The supply to-day of grain
was considerably less than in last market. Sales were
dull. Wheat, top, is up, and average., id down; weight
of top, per four bushels, 18st lib. Barl..y, top, 2s, and
average 8d down; weight of top, per four bushels, 16st
101 b. Oats, top, 6d and average is Id down; weight of
top por four bushels, 13st 41b. 13( ans, top, 2s, and ave-
rage is lid down; weight of top, per four bushels,
19nt 61b.