The Sun.
London, England, 1847-01-13 00:00:00

h2nce—large as they -have bt;en—are as "a drop in the
ocean. That the Irish will have to buy largely in Eng-
land up to the period of next harvest cannot be ques-
tioned ; and how we are to meet this unusual demand is
a startling proposition. It is not merely that which is
taken from us, but it must be borne in mind that iu
ordinary seasons the densely-populated manufacturing
districts, which draw a large proportion of their supplies
from Liverpool, depend, in a great measure, on the
arrivals of bread-stuffs from the sister isle. This source

is not withdrawn, but large shipments are daily
taking place from this to the other side of the Channel:

Can any surprise, therefore, be felt at the present state
of affairs? The enormous importations of 1846, nearly
2,000,000 quarters of wheat, and upwards of 3,000,000
cwt. of flour, have been almost wholly consumed._ The

quantity of grain, &c., at present in bond in the United
Kingdom is trifling in the extreme: all parties engaged
in the corn trade, whether as merchants, factors, millers,
or dealers, are indifferently stocked: that farmers hold
less than usual at the commencement of a new year is
the prevailing opinion, and for two months we shall pro-
bably be without arrivals of importance from abroad.
We shall not expatiate on the probable effects of this
state of things ; the facts are indisputable, and we leave
our readers to draw their own conclusions. Farmers
still act on the principle they have been guided by ever
since harvest—being satisfied with the rates obtainable,
they have all along supplied the markets freely. The
damp weather experienced during the greater part of the
week has been detrimental to the condition of the grain
of last year's growth ; but though the quality of the
wheat brought forward by the growers has in consequence
of this cause been decidedly worse than that of previous
supplies, a further advance of about 35. per quarter 'has
been obtained at all the leading markets in the agricul-
tural districts. Till very recently the new wheat has
come to hand in such capital order as to render an ad-
mixture of old almost unnecessary, but this is no longer
the case ; and it is., therefore, pretty certain that an
extra demand for the free foreign still on hand will be
experienced. At most of the out-ports the stocks of the
latter are very insignificant, and the recent shipments to
Ireland have also greatly decreased the quantity in

warehouse in London. -Under these circumstances we

should not be surprised to see foreign bear a higher

relative value than English. .
The advices from Liverpool of Tuesday, were of a very
exciting character ; wheat was then quoted 4d. to a per
70Ibs. higher than on that day se'nnight, and for wheat
meal 171. to 181. per ton was readily paid by the Irish
purehaiers. -Other articles sold at equally high rates,
say, American flour, 40s. per barrel in bond, and oatmeal
.525. per load. Later in the week a further enhancement
was insisted on, and some large sales of wheat and flour
were made on Friday, the former bringing from 2d. to
3d. per 'nibs., and the latter 6d per barrel, above Tues-
day's currency. The continued rise in the English mar-
kets, together with a lively local demand, has caused
prices of grain to run up nearly as rapidly in Scotland as
with us ; indeed, as regards oats, the advance bas been
much greater there than in the Louth : and it is perfectly
clear that we cannot look for any further supplies of the
last-named article from that quarter.
By the latest accounts from Ireland wo learn that a
large fleet of vessels corn-laden had arrived there from
England, a few cargoes from the south of Europe, and
several from America. This welcome supply had, how-
ever, little effect on the markets ; and quotations of
wheat meal, Indian corn, and indeed of almost all
articles of food, were then still so much above our
prices as to afford a good protit on shipments from
this side. An intelligent correspondent states that a
temporary re-action was the utmost tha: could be
looked for, as all parties were so exceedingly bare of
stocks as to render it certain that the corn would pass
into immediate consumption almost as soon as landed.
Potatoes we are informed, had altogether ceased to come
to market.

The arrivals of wheat coastwise into the port of Lon-
don have been small this week, the total receipt up to
Saturday evening having amounted to only 9,830 quar-
ters. It is not surprising that the supplies should show
a falling off, as prices are at present lower in the metro-
politan than in several of the leading provincial markets;
and many of the shippers on the east coast, who usually
coruign to London, have, no doubt, been induced to send
their property to those places which promise to give them
the best remuneration. The quantity of wheat exhibited
at Mark-lane, by land carriage samples from the neigh-
bouring counties, has also been scanty. On Wednesday
the show consisted of a few parcels on the Essex and
Keat stands, left over from Monday, for these higher
terms !were ached than would have been accepted
in the beginning of the week, which had the effect, in the
first instance, of checking the demand. but buyers find-
ing factors determined, were at list under the necessity
of paying the terms demanded, and an advance of about
ls. per quarter was established. On Friday the quan-
tity of English wheat on sale_was even smaller than be-
fore, and some further enhancement was insisted on and
obtained for really good conditioned parcels ; the total
rise on Monday's currency may, therefore, be estimated
at ls. to 2s. per quarter. The inquiry for foreign free
wheat for shipment to Ireland has again become brisk ;
in the commence of the week there was an appearance
of a pause in the demand, but since then numerous orders
to buy have again come to hand from the sister isle, and
our stocks having been greatly diminished by the recent
important shipments, holders have declined selling, ex-
cept at rates ls. to 2s. per quarter above those previously
current. The damp weather experienced during the last
eight days has, as already remarked, rendered a mixture
of old wheat more necessary than was previously the
case ; and the mille-rs have, consequently, taken the finer
sorts, such as Dantzic and the best red Baltic ; whilst
the ordinary qualities have been bought to be converted
into meal on Irish account. Inlbonded:wheat the opera-
tions have not been of much importance : owing to the
article having been held relatively higher than free, it
has failed to offer any inducement for speculative invest-
ments, and prices being now too high here to allow of the
execution of the orders which have come to hand from
France, few bargains have been closed.
Quotations of town-manufactured flour have remained
stationary since Monday, nor has any further advance
taken place on country flour ; but gocd brands of Ameri-
can in bond, as well as free, have been held at rather over
previous terms.
The great rise established in barley on Monday has
failed to draw supplies to this market, and the arrivals
into London, including 9,311 quarters from abroad, have
amounted to only 12,055 quarters. The maltsters and
distillers have, therefore, found it difficult to secure the
quantity requisite for their immediate wants, and the
sales made have been concluded on terms decidedly in
favour of the seller. For the best malting qualities 635.
per quarter has been paid, and other descriptions have
produced corresponding prices.
Malt has risen in the like proportion; and as the stocks
of that article are known to be very short, a further ad-
vance is anticipated.
Small as the supplies of oats have for some time been,
a further falling off is exhibited this week in the receipts.
We are disposed to think that the time bas now arrived
when this grain would feel the influence of the very
great enhancement which has taken place in other sorts
of corn without hitherto producing much effect on the
value of oats. On Wednesday there was certainly an
increased disposition to buy, and towards the close of
market the dealers took off a fair quantity, at rates
hardly obtainable in the beginning of the week. On
Friday the anxiety to purchase was more general, and
prices fully is. per quarter &live those of Monday were
freely paid.
English Beans have been held very firmly since our
last, but the demand seems again to have somewhat
slackened ; and, though the quantity brought forward
has been only moderate, the advance on previous rates
has not exceeded ls. per quarter. For floating cargoes
of Egyptian Beans there has been an inquiry, and se-
veral bargains have been closed at 44e to 455. per
quarter.
The rise in the temperature has had the effect of
checking the demand for boiling-peas, but there has not
been the slightest giving way on the part of the holders ;
indeed, they were on Friday unwilling to accept Mon-
day's terms.
The offers of cargoes of Indian corn on passage to
this country have rather increa-ed, but the quantity os
the spot is still insignificant. Tiiis article has not ex-
cited quite so much attention as recently, still its value
is relatively high as compared with that of either wheat
of spring corn.