The Sun.
London, England, 1845-12-04 00:00:00

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REVIEW OF THE CORN TRADE.

BRITISH.
We have nothing new to communicate in regard to
the potato failure ; the accounts from some quarters
are less alarming this week than previously, whilst in
other localities, where it was before supposed little or no
mischief had beeridone, the disorder is spoken of as being
very serious. That a good deal of uncertainty, and
some exaggeration, prevail on this subject, is very pro-
bable ; but it is beyond doubt that an immense propor-
tion of the growth of this useful root has ken exten-
sively damaged. Proofs that such is the dike are too
numerous to be for a moment disputed ; indeed, we have
not heard of a single instance, where parties have taken
the trouble to examine the state of the potatoes grown
in their own neighbourhood, or the condition in which
the supplies of the article have come to the different
markets, in which it has not been admitted that the mis-
chief is serious.
In how far the extra breadth planted—and we believe
there was a greater breadth of ground under this crop
than usual, as well on this side of the Channel as in
Ireland—may compensate for the damage done, we have
no means of judging ; but however much inclined we
may be to hope for the best, we certainly feel some
uneasiness, and, without subscribing to the deploW3l.
case made out by a portion of the press as to the proba-
bility of extreme scarcity, we still think prices of
agricultural produce will be much higher during the
ensuing year, than has been the case at any period
since 1842, when the existing corn-laws came into
operation.
The trade in wheat has since our last maintained a
very firm tone, and the value of the article has further
aivanced Is. to 2s. per quarter at several of the principal
markets in the agricultural districts. At the leading
shipping ports along the eastern coast, from whence
Loudon and the other chief consuming towns derive so
important a proportion of their supplies, the rise has
been greater than at those places which depend in a
great measure on the fertile counties of Lincoln, Cam-
bridge, Norfolk, &c.— a state of things rather unusual,
and one which implies that the growers of wheat have
not a very high opinion of the result of the harvest.
From Scotland and Ireland the reports of the potato
crop are as various and contradictory as those from the
counties where this article is most extensively grown in
England ; the alarm is, however, in some degree abat-
ing, and the different remedies recommended to be em-
ployed to preserve that portion of the crop not destroyed,
are now being very generally employed.
The arrivals of wheat coastwise into London have
been moderate, only 4,785 quarters having been re-
ported up to this (Saturday) evening. The quantity
exhibited at Mark-lane by land-carriage samples from
the neighbouring counties, has also been small • indeed,
with the exception of a run or two from issex, the
stands were nearly bare of wheat, as well on Wednesday
as on Friday. The mild damp weather which has been
experienced during the greater part of the week has had
a deteriorating effect on the condition of the samples ;
notwithstanding this circumstance, the late advance has
been well maintained, and really good: qualities, had any
appeared, would probably have brought rather more
money at the close than in the beginning of the week.
As it is impossible to manufacture good flour from the
wheat of this year's produce without a considerable mix-
ture of old, and as the supplies of the latter of home
growth have for some time past been inadequate for that
purpose, good free foreign wheat has been taken pretty
extensively at comparatively high rates. The stocks in
granary have, therefore, been reduced into a very narrow
compass ' • and so difficult has4'it become obtain
parcels of suitable quality, that some of th ncipal
kio
millers have been under the necessity of buyin nded,
and paying the existing high rate of duty. Beyond,
however, what may be released in this way, theres no
chance of much of the late supply from abroad bei&en-
tered for home consumption ; importers, notwithsMid-
ing the present position of the averages, feeling as con-
fident as ever, that sooner or later the duty must fall
materially.
The principal obstacle has hitherto been the very in-
ferior quality of the new English wheat. If only such as
is suitable fa the manufacture of flour were returned,
we should he present time, probably have an aggre-
gate average of 635. per quarter. A large quantity is
being used byte starch makers, and for other purposes,
and as the in V6i varieties are selling at 50s. and under,
the averages aft kept down.
The last general weekly return for the kingdom was
only 575. lid. per quarter though good red wheat has not,
at any period during the last two months, been sold
below 655., whilst fine qualities of white are worth 70s.
per quarter in many parts of the country, and still more
at Mark-lane.
The probability that some time must elapse before a
material fall takes place in the duty, has tended to check
the disposition to enter into speculative purchases of
bonded wheat; and business has been further interfered
with by the high pretensions of holders. Beyond the
small sales to the millers, to which we have already al-
lueed, little has therefore been done in lock wheat.
Moderately good high-mixed Dantzic has been held at
58s. to 605., and for a parcel of very fine quality over
60i. per quarter is reported to have been paid in bond.
In the early part of the month the metropolitan bakers
manifested a decided aversion to increasing their stocks;
but within the last week or two the demand for flour has
decidedly improved, and no difficulty has been expe-
rienced in making sales at the current quotations.
The arrivals of barley have been rather large. Only
a very small proportion of the supply has, however,
consisted of really fine melting quality; and whilst the
general runs have been almost unsaleable, though offered
at the abatement of Monday, choice samples have been
sought after at fully previous prices. In foreign barley
there has been little gassing ; the receipts from abroad
are mostly being stored in bond, in expectation of a
further fall in the duty.
The very finest descriptions of malt have commanded
a ready sale at former terms; but inferior kinds, of
which the greater part offered for sale has consisted,
have hung heavily on hand.
'i'h arri villa of oats ilft‘t . •-••• --"'—'s---' ----".". ."
supplies of the preceding week, fallen off; still a large
quantity has come forward, viz. 6,982 qrs. from our
own coast, 2,501 qrs. from Scotland, 26,568 qrs. from
Ireland, and 5,774 qrs. from abroad. The improvement
in the trade, noticed on Monday, has nevertheless been
well maintained. The principal dealers appear to be of
opinion that they are not likely to have such another
opportunity of replenishing their stocks for some time
to come, and they have, consequently, purchased freely.
This has restored confidence to factors; and good corn
could scarcely be bought on as easy terms on Friday as
in the commencement of the week.
The duty on oats fell to 3s. per quarter on Thursday,
below which point there is little prospect of its receding.
Very few English beans have been exhibited since
Monday,std on.
eand the rates then current have been firmly in.
bi
Peas of all kinds have also sold at quite previous prices.

PRICE SD.

FOREIGN.

Up to a late hour this (Saturday) evening no intelli-
gence has been received of the Hamburgh steam-boat,
due yesterday.
The most recent advices from the Baltic are not of
much interest, business in grain having been checked by
the dull accounts from hence. Holders of wheat ap-
pear to have refused to make anything like the conces-
sion expected by buyers, and very few: bargains had,
consequently, been closed.
At Dantzic scarcely anything seems to have been done
for about a week or ten days preceding the date of our
letters, and quotations had become almost nominal.
Choice parcels of old having become very scarce, had
been offered at 545. to 555. per quarter free on board,
being a decline from former rates.
From the Lower Baltic ports the accounts are of a still
more depressed character, and rather an important abate-
ment had taken place in the value of wheat at some of
the principal markets.
At Stettin fine qualities of red wheat might have been
bought at 48s. to 495. per quarter, free on board ; but
even at these comparatively low rates (prices having at
one time been quite ss. per quarter higher) but few
purchasers had appeared. Barley had sold, for local
consumption, at equal to 255. 6d. per quarter. Vessels
were scarce, and 6s. per quarter had been paid to load
wheat for the east coast of Great Britain.
Letters from Rostock state that the deliveries of grain
from the growers had but slightly increased, farmers
having been busily employed preparing the land for the
reception of the seed. With little wheat offering and
few orders to execute, the transactions had been very
trifling. The nominal price was then 50s. per quarter.
At Hamburgh business in corn was exceedingly dull
on the 21st, but we expect the next reports will inform
us of confidence having been restored, owing to the
somewhat firmer tone of the British markets. Good
red Upland wheat had been sold there at 445. to 50s.
per quarter, free on board; and prices of barley and
oats had declined at least 28. per quarter.
By the most recent accounts from the Mediterranean,
we learn that the dull reports from hence had also
had some influence on prices in that quarter. At the
same time sellers had been extremely reluctant to ac-
cept less money, an opinion prevailing
.that the stocks
of wheat would be sure to be all required. The late
purchases made at Leghorn on British account had been
2,500 quarters Marianoplo, at 455. 10d., and 1,500 quar-
ters Polish Odessa, at 465. 7d. per quarter, free on board.
A letter from Genoa, of the 19th Nov.: informs us
that the inclination which had for some time prevailed
there to speculate in wheat, had undergone a marked
l l
hise
Fine Polish was, nevertheless, then
l
465. to 50s. per quarter free on board.
abatement,shld atdh veoirc weeis at n. g to the more subdued tone of the
English
The latest accounts from Odessa, dated 14th inst., state
that very large purchases of wheat had been made there,
board,iiam hbaudrgbheelenttpeairsdoffoTr baeys thqauv toime se.
and that as much as 365. to 38s. per quarter free on
c
taken place in the grain trade since the preceding headnindgspinocset
the above was written. A material improvement had
day, and several thousand quarters of wheat had
changed hands at enhanced rates.—Mark-lanc Express.
Id be

ÜBLIC WORKS IN IRELAND.—See what con
done by turning attention to the improvement of our lakes.
The first of these are Loughs Corrib anti Mask, connecting
the counties of Mayo and Galway with the latter large com-
mercial town, by a river not exceeding three miles in
length, with a fall of fourteen feet, and a discharge equal to
9,210 horse-power. One of these loughs (the Corrib) lies
about twenty-eight feet above the sea, at low water mark,
and may be connected with the Atlantic by a quarter a mile
of a canal, at a trifling outlay of money ; and Loughs Mask
and Carra, which are thirty-five feet above the Corrib, can
be connected with it and the sea by a canal of about three
miles. So that, by a cutting of three miles and a half, a
direct line of navigation would be open to the country of
over fifty miles, and affording a speedy and a cheap mode of
transit for the- agricultural produce of nearly 200 miles of
country. Ag.ain, the extent of flooded lands in winter, by
the three lakes, computed at over 17,000 acres, would be
brought into use, while the estimated cost, for drainage and
navigation, is calculated at only 34,000L—Galway Mercury,
RisE IN THE PRICE OFCoAxs.--The coalmaatera of
Wigan have agreed to advance the price of coal one shilling
per ton. The reason given is, the high rate of wages, and the
diminishedol sunoulit of labour by which it has been followed
—LivezpoCourier.