The Sun.
London, England, 1845-09-30 00:00:00

THE SUN, LONDON, TUESDAY EVEMING, SEPTEMBER 30, 1845

THE CORN-TRADE.
(From the Mark -lope Express.)
By the official account just published, it appears that
the stocks of Grain, Flour, and Pulse under lock in the
United Kingdom were as follow, on the sth instant :
Wheat 444,408 which Wheat 330,893
Barley
Oats
the sth of Sep- R
Rye
Beans 48—,073 I tember,
:1844, 8ean5......... 4,810
Peas
Peas
The difference in the quiuttity of wheat on hand is not
very great ; but it must be borne in mind, that at this
period last year, one of the most abundant crops gathered
for years had just been secured, whereas at present a
proportion of the harvest is still abroad, and that part
saved is of decidedly inferior quality, besides being defi-
cient in quantity to the acre. What might then have
been considered a good stock cannot now be regarded
as such, and unless the reports of the indifference of the
yield are greatly exaggerated, and the failure in the potato
crop proves much less extensive than it is represented to
be, we shall unquestionably require an extensive impor-
tation from abroad. It therefore becomes a matter of
interest to ascertain whence assistance, in case we should
require it, is to be had. Over a large portion of conti-
nental Europe the result of the harvest has been more
inauspicious than in Great Britain, and stocks of
old wheat having previously been reduced into a very
narrow compass, it would not be an easy matter to
secure important supplies without paying high prices.
Dantzic is nearly:the only place in the Baltic where any
great quantity of wheat is held, and there the total
amount falls materially short of 500,000 quarters. At
Rostock, Stettin, and most of the other Lower Baltic
ports, the old wheat seems to have been completely ex-
hausted, and there will hardly be time before the setting
in of winter for supplies of moment of the new crop to
be brought forward. Holland and Belgium have for
some time been drawing supplies from the Baltic, to
say nothing of the shipments of bonded wheat from Eng-
land to those countries. It appears, therefore, that be-
yond what may still reach us from the Canadas and the
United States of America, and a moderate quantity from
Dantzic, no material assistance can be expected from
foreign countries until the spring of next year. Under
these circumstances it je not to be wondered at that
holders of parcels in bond here should have raised their
pretensions, more particularly as a fall in the duty may,
after the important advance which has recently taken
place in prices of English, be reckoned on with some
degree of certainty.
The reports which have reached us since our last, re-
specting the progress made with the harvest in the
north, are not of a character to allay the excitement
previously felt on the subject. The heavy rain which
fell up to the 21st instant was succeeded by dry, but
' unusually cold weather. Sharp frosts were experienced
on the nights of the 22d and 23d instant, and though
the temperature has since risen, the shift of wind to the
southward threatens a return of wet. The interval of
dry weather has hitherto been of too short duratiou to
admit of much corn being carried, and the extreme cold
has prevented that not before ripe making much pro-
gress towards maturity. It is, therefore, feared (and
not without reason) that the more backward parts of the
kingdom may fare even worse than the south; and as
the reports of the yield from the forward districts do not
by any means improve as thrashing is proceeded with, the
estimates of the results of the harvest become daily more
discouraging. These considerations have had their
effect on the minds of sellers as well as buyers, and,
with a greater inclination to purchase, less disposition
has been manifested to sell. The upward movement
has, consequently, continued, and at some of the princi-
pal markets materially enhanced terms have been paid
for wheat.
At Liverpool, on Tuesday, a great deal of excitement
prevailed, and important bargains were closed at very
high terms. Not only was free wheat quoted 6d. to 9d.,
and bonded 6d. to Is. per 701 b. higher than on that day
week, but all other articles rose in nearly the same pro-
portion. Flour of British manufacture rose 4s. per sack,
and foreign 2s. per barrel, whilst eats, barley, beans, and
peas, as well as oatmeal, met a ready sale at advanced
terms. Later in the week holders raised their preten-
sions still further, and good qualities of wheat, whether
free or in bond, were on Friday held 2d. per 701 b above
Tuesday's rates.
The advices from Hull of Tuesday, though not so
lively as. those from Liverpool, are, nevertheless, of a
decidedly firm character, and the business done there in
wheat was at prices 2s. to 3s. per quarter above those
current on that day se'nnight. A similar enhancement
was also paid at Leeds on Tuesday, with rather a lively
inquiry for the article. At Wakefield, on Friday, the
business done was not very extensive; the advance of 2s.
to 3s. per quarter demanded being paid with reluctance.
The reports from the western and north-western
parts of the kingdom are of a very firm tone. At Bris-
tol, on Thursday, old wheat was quoted 45., and new 2s.
per quarter higher than on that day week, and both
sorts were in fair request. The Birmingham market, on
the same day, was well supplied with wheat ; notwith-
standing which, prices 3s. to 4s. per quarter above those
of that day se'nnight were realised.
In the agricultural districts the advance has been
quite as great as at the chief consuming towns, and at
the principal shipping ports on the east coast a good deal
of business has been done at rates from 2s. to 4s. per
quarter above those previously current.
A week or two must elapse before these high sales
can come into the returns, and it is probable that the
duty may advance a step before it begins to recede; übi-
mately a much lower duty may, however, be expected.
By our Scotch advices we learn that harvest opera-
dons, which had been interrupted by the heavy rain that
fell between the 16th and 22d, had again been actively
resumed ; it will nevertheless, require some weeks of
dry weather to get in what is still abroad. The lively
reports from the south had caused sellers of wheat to
demand materially enhanced terms. At Edinburgh, on
Wednesday, the article rose about 3s. per quarter, and at
Glasgow the rise amounted to 2s. 6d. per boll, being
equal to ss. per quarter. Much anxiety was felt there
to ascertain in how far the potato crop had been injured
by the disease so prevalent in England, but as nothing
very positive is stated on the subject, we are inclined
to think that the mischief is not great in that part of the
kingdom.

From Ireland the complaints in regard to this matter
are, however, becoming general ; even along the
west coast, where the crop was previously stated
to have escaped injury, the root has, it is stated,
been discovered to have been attacked. In the
southern parts of the island the bulk of the grain
had, we are informed, been got in, and even in the north
the fields were fast being cleared. On the whole, we are
disposed to think that the harvest will turn out better in
Ireland thin on this side of the Channel. The rise in
the English markets had had the effect of causing an ad-
vance in the value of both wheat and oats.
The arrivals of wheat coastwise into London have been
rather liberal, 8,401 quarters having been reported up to
this (Saturday) evening. Of this quantity a large portion
is from Lincolnshire, being the first receipts thence of
the new crop. We have seen samples of several of the
cargoes, and find the quality very much inferior to that
of last year; the condition is, however, tolerably good,
and a less proportion of old will be necessary in grinding
the Lincolnshire wheat than what will be requisite to
make good flour of that grown in Kent and Essex. The
bulk of the arrival from the first-named county huh gone
to the millers direct, and the quantity exhibited at Mark-
lane has been comparatively small.
Neither on Wednesday nor Friday was there much
wheat on sale ; and, though the fineness of the weather
had some little influence on the trade, factors remained
extremely firm : so far from making any concession,
they seemed rather disposed to raise their pretensions
The business actually done was not important, but
buyers had to pay fully Monday's currency fur wit-it
they required for immediate use. The transactions in
free foreign wheat have likewise been on a restricted
scale, owing partly to the want of fine qualities, all that
has recently arrived' from abroad having been landed
under lock. Superior Dantzic and good heavy qualities
of red have been taken in small quantities at very high
rates, and other descriptions have not in any instance
been sold cheaper than on Monday. Bonded wheat has
been inquired for; the extravagant prices demanded have,
however, prevented important sales : for moderately
good red, 465. to 475. per quarter have been asked ; and
a cargo of fine Rostock was, we believe, placed at 50s.
per quarter ; for Dantzic and other favourite varieties
equally high prices have been demanded.
The enhancement recently ettablished in priers of
flour has been reluctantly paid by the bakers, and the
contracts closed have not been so, large this as the pre-
ceding week. Bonded Roar has been held very high,
which has checked business.
could The sales
With small arrivals of barley, and an improvel de-
mmaadned,opnrivvceesdhnaevsdeasytewaedriley
onm o tveerdm us
pwwabhreds. i
ch
have been obtained in the beginning
uliy i.
peroftsquarter week,
ratnedrn.En
Friday the advance amounted to f
at
r
Monday's currency. There has
in bond offered of late, and the not
samplesbeenextubcihtedbabalve

been held at very high rates.
Malt has met with more inquiry during the week,
and has risen ls, per quarter in value.
A few small parcels of English and Scotch oats have
come to hand, the former consisting of new Lincolnshire,
but the Scotch being of last year's growth. We cannot
say much in praise of the new English,
the samples
which have hitherto come forward being mostly mixed
with green corns. From Ireland a parcel or two of good
quality have come to hand. Old oats, notwithstanding
the large ai rivals of fereign (32,559), have, throughout
' the week, met a ready sale at fully previous prices ; and,
unless the supplies are followed by further liberal re-
ceipts, there is little chance of any decline occurring.
The inquiry for beans has rather slackened, and the
article was obtainable on slightly reduced terms at the
close of the week.

Peas were also somewhat difficult of disposal, and co.,
vainly Is. to 2s. per quarter cheaper than on Monday.

DREADFUL BOILER EXLOSION..--FIVE LIVES LOST.

—On Wednesday forenoon last, about eleven o'clock, an ac-
cident of a most awful nature occurred at Batley Carr, near
Dewsbury, whereby five men lost their lives. It appears
that the boiler belonging to the scribbling mill of Messrs.
Day and Newsome was too small for the work which is re-

quired to be done, in consequence of which the safety valve
had been overweighted and cause the explosion. The names
.f the men who have unfortunately lost their lives are John
Foster, who had to take care of the engine, John Stead,
Martin Leather, John Clarkson, and Joseph Brook. Foster
has left a wife and one child. The other four men had only
fast gone into the boiler-house before the explosion took
Place.--Doncaster Gazette.
CROMWELL.—As a good deal of discussion is going
jut now as to whether Cromwell shall have a statue or
not, it may not be uninteresting to know that there is in the
pcTsession of Mr. W. Mason, formerly a printseller in Cam-
bridge, a cast taken from the face of Cromwell, and from
which Cooper painted the celebrated portrait in the Master's
Lodge, at Sidney College. It was given to Mr. Mason by
the late Dr. Elliston, formerly master of the College, and
uncle of the celebrated comedian of that name. Dr.Chafy the late master, tiled every means to regain possession of he
cast,.even threatening law proceedings, but was unable to get
it back.—Cambridge (Amuck.

RELATIVE CLOSING PRICES OF

EXETER, Szrr. 29.
Ferocx EXCHANGE. —The sales are—Exeter and Crediton,
qi—Exeter, Yeovil, and Dorchester, 1 p.—Exeter, Top-

sham, and Exmouth (Daw's line), % p.—Ditto (Head's),
3 p.—Eastern Counties, 21N—Ditto, New, 71!, p.
I.i.UDDERSFIELD, Sr.E 29.

STOCK EXCITANGE.—The sales are—Grand Union, 414—
Huddersfield and Sheffield Junction, 41—Leeds and LIN er-
pool, 314 p.—Worcester, Shrewsbury, and Crewe, 41/2.
SHEFFIELD, SEPT. 29.

STOCK EXCITANGL—The sales are—Eastern Counties, 21
—Hull and Selby, Half Shares, 221/2—London and Brighton,
741,4—South Eastern, No. 2 (New Creation), 13%—Cale-
donian, 14—Derby and Gainsborough, 41. 4s.—East Lincoln-
-61A—Goole and Doncaster, 61/2—Grimsby and Shef-
field, 221—Huddersfield and Sheffield, 48—Liverpool and
shi
Leedsre, Direct, 5/. 18s. 6d.—Manchester, Sheffield, and Mid-
land Junction, 8 14 —Man c h ester, Midland, and Great Grimsby,
63/4—Sheffield and Lincolnshire, Si. Is. 3d.
HULL, S. 29.

STOCK EXCHANGE.—The sales are—Blackburn, Darwen,
and Bolton, Il—Huddersfield and Sheffield Junction, 41—
Axholme, 40s. 6d.—Cambridge and Lincoln, New, 5
Chelmsford and Bury, 2%—Coventry, Nuneaton, &c., 43%
Derby and Gainsborough, 59s.—Direct Northern, 3—East
Coast, 31/s —Glasgow and 'Dumfries, 21/z—Grand Union, 414
—Great North and South Wales and Worcester, 17s. ..6d.
—Lancashire, Yorkshire, and North Eastern, 51.x—Leiceiter
and Bedford, 41. 4s. 6d.—Liverpool and Leeds, 3%—London
and Birmingham Extension, 2%—Manchester, Liverpool,
and Great North of England, 60,1—Nottingham, Erewash,
Sze., nx; —Nottingham and Boston, 411—North Staffordshire,
6i. 2s.—Norwich Direct, 12s.—Rugby and Huntingdon, 3%
—Trent Valley Continuation, 31%—Welsh Mid-
-South Midland, • 71. 153. 9 d.—Sheffield and Lincolnshire
41.
113. 6d.—York and Carlisle, 54—Yorkshire and
iJa
Indc, t ,
Glasgow Union, 5/.ls. 3d.
YORK, SEPT. 29.

STOCK EXCIIANGE.—The sales are—Newcastle and Dar-
lington Junction, New (Brardling), 53—York and North
midland, Extension, 30—Coventry, Nuneaton, Birming-
ham, and Leicester, 4%—Grand Union, 4%—Great Grimsby
and Sheffield Junction, 204--Lancashire, Yorkshire, and
North Eastern, s—Leicester and Bedford, 44 Is.—London
and York, 6%—London and Manchester (Rem.), 43/4—Man-
chester, Buxton, &c., 9%—Newcastle and Berwick, 1934—
North Wastern, 6'A—Welsh Midlands, 4N—York and Car-
lisle, 5.

RAILWAY INTELLIGENCE.
MANCHESTER AND BIRMINGHAM.
AMALGAMATION WITH THZ LONDON AND BIRMING-
Ham CONFIMMED.—The Manchester and Birmingham
__ Company held a meeting yesterday in the Corn iEx-
- change, Hanging Ditch, Manchester, for the purpose of
the directors submitting to the shareholders their report,
containing the terms upon which it was proposed to amal.
garnate with the London and Birmingham Company.
n% The meeting was very numerously attended, and Mr.
90 Worthington, deputy• chairman, presided.
a The SECRETARY then read the directors' report, which
2% stated that in pursuance of the fifth resolution of the
half-yearly general meeting of the company, held at
the Corn Exchange, Manchester, on the sth of
September, a deputation was appointed at the follow-
- ing weekly meeting of the directors, with instruc-
: tions to renew negotiations for an amalgama-
tion of this company on terms likely to be generally
acceptable to the proprietors. That the deputation,
consisting of J. P. Westhead, E‘44., chairman of
the company, William Rawson, Esq., and Thomas
Thompson, E.q. (the earliest opportunity of, communi-
- eating to the London and Birmingham the fact of their
appointment having been taken), proceeded to London
on Monday, the 14th inst., accompanied by the law
clerk and secretary of the Company ; that the London
and Birmingham Company named a deputation from
their body, consisting of George Carr Glyn, Esq., the
chairman; Thomas Smith, Esq., and Thomas Couktey,
Esq., to receive and to treat with the deputation from
the Manchester and Birmingham Company; and that a
meeting was arranged to take place between the re-
- spective deputations on Tuesday, the 14th inst., at
twelve o'clock, noon, at the Euston station ; that, after
a conference of several hours' duration, an arrangement
for an amalgamation of the two Companies was imme-
diately entered into, subject to the ratification of the
Proprietors, upon the following terms :—The present
nominal capital of the Manchester and Birmingham
Company is 2,100,000/, represented by the following
_ shares :
30,000 shares at 401 each, all paid up,
amounting to
30,000 ditto 101-4/ ditto 120,000
60,000 ditto 101-2/. ditto 120,000

Making altogether
26 1,440,000
Remaining to call up on the quarter shares 660,000

The Company are also empowered to capital-
ise their existing debt of

2,100,000

700,000

£2,800,000
= It is considered that the 660,0001. remaining uncalled up
- on the quarter shares will be required to complete the
- works ar:d undertakings of the Company, as already
sanctioned by Parliament. The Manchester and Bit-
- mingham Company are to accept such dividend for the
- current half-year, terminating 31st Jan. next, as the
- profits of their own Company will afford. From the Ist
- February to 31st July, 1846, the London and Birming-
- ham Company guarantee a dividend to the Manchester
awl Birmingham Company after the rate of 8 per cent.
on their paid-up capital of 1,440,000 ; and from 31st
- July, 1846, to Ist February, 1847, a dividend after the
- rate of 9 per cent. on the capital of 1,800,0001., or on so
- much of it as shall have then been called up. And on a
- like rate of dividend from Ist February to 31st July,
- 1647, on a paid-up capital of 2,100,000/, or upon so
-3, much thereof as shall have then been called. From 31st
sh July, 1847, to the same date in 1848, the Proprietors
- will be entitled to dividends on their capital of 2,100,0001,
- or so much thereof as shall have been cal!ed up equal to
that at the time payable in respect of the same amount
- of stack to the London and Birmingham Company ; and
-- from the 31st of July, 1848, the Manchester and
- Birmingham Proprietors will be entitled to the
- same rate of dividend as the London and Birming-
- ham Proprietors received on ther entire capital
- of 2,800,000/, such part, if any, of this capital as
may not be then called up being debited with inte-
- rest after the rate of five per cent. per annum. It is in-
t
t
!"
istotctttuh.
hheeffr
not
I le)
n'
mmi‘rocirteeel
quarter-shares
ttpsmodeait.
iaxnhodg,
stock,t °eefser.
rtenasai aelnvordogeefi
d! ye:lopo;
t.vt:asobobeinininucreens.yhaate ttolvatihibwfiTtheuerineyihyp7innl
liberty
enfoehixildM:vevoot the
ietiotcsyadshaotfneei
eoptcnisruim.thsgpt
capital
ebaoomysolny4nfteremoeadeCwirtonpihaorna.
ssetmenhithePmsdalpaoit
ramran:heßernte,
el
shares
then
daeraoeismnmfat
teditxpeolennianiogtsilasthi.
issue
tsmtwgoeeoe
taeddehpyosthite,siet
3i new shares until, under the terms of the above arrange-
- moot, it will become entitled to a participation in the
full amount of dividend payable to the London and Bir-
mingham proprietors, viz., from the 31st of July, 1848,
- - to the Ist of February, 1849. It is proposed, therefore, _ to make arrangements to issue to the proprietors
.
._who may be registered as such, in the books of the
- Company, on the Ist of November next, 75,000 new
- - 101. shares, which will be distributed in the proper-
-
lions above-named ; that is, of every holder in the line
- of three 40/. shares, or 120/. Manchester and Birmingham
- stock, four new 101. shares, and so en in the like propor-
ti..n for the holders of quarter shares. The two Companies
- are to participate pro rota in all future issues of stock,
- which teas be required in any joint undertaking for
41,4 which Acts of Parliament have to be obtained. Your
2 Directors cordially agree with the deputation in sub..
- witting their arrangements for the approval of the pro-
- prietors."
Mr. Tnosirsos then came forward and read the reso-
_
- lution, which was to the effect that the meeting should
- confirm the terms of amalgamation proposed, and should
give the Directors power to carry them out. In pro-
- posing the resolution, be entered into a long and de-
- tailed explanation of the report, with the view, as he
- said, of enabling the proprietors to understand
thoroughly what the plain and precise nature of those
- terms were. lie congratulated the shareholders up.
- having come to this arrangement, but he bad no doubt
- but their line would, in a few years, reach the maximum
- value to which law had limited railway property-
- namely, 10 per cent., and therefore, in their negotia-
- Lion with the London and Birmingham Company, they
had taken care to come to no arrangement in which that
- fact was not kept in view, and formed the basis cf their
bargain.- (Cheers.) The present meeting had been
- called in order to give legal eff,ct to the arrangement,
- but a special meeting would be called in a very short
- time for the purpose of finally closing it. In order to
prevent any misunderstanding, he wished it to be dis-
. tirictly understood that the interest is bleb this Company
- would havein the Trent Valley would be included in
- this bargain. lie mentioned this fact in order that the
shareholders should thoroughly understand their posi-
tion. The railway mania had now attained to such a
• height, that he understood that there were no fewer
than ten projects on foot for making a more direct road
from Manchester to London.-(Laughter.) The esti-
mated cost of them was 23,000,0001, on which a deposit
had been paid of 2,300,000/, which no doubt would,
be disposed of by lawyers and engineers. However,
he believed that this Company was the only one that
would really make a new line to London by Mac-
clesfield and Lichfield. He then called attention to
the advantages which the Company had offered to the
public within the last three years. Amongst those he
enumerated were, that they had made reductions of from
22 to 28 per cent. in the charges by
the first-class car-
riages, and thq time occupied in the journey to London
had been also much lessened. He said that in the late
negotiation with the London and Birmingham Company
the deputation had been met in a courteous and in a busi-
ness-like manner, and no disposition whatever was
evinced either to drive a hard bargain, tor to take the
hew advantage. In answer to a question from a Share-
holder, he said that this Conapan) would have no parti-
cipatien in any stock issued by the London and Birming-
ham Company antecedent to this arrangement, but that
they would participate in all future issues of such. The
carried of this Company was limited to 2,800,000/. What
the capital of the London and Birmingham Company
was he could not say, but whatever it was under existing
Acts, this Company would share in all future issues in
proportion to the amount of their respective capitals.
vA.I
hlot Atuspv,soonis.,
,s)he ceonadn t
great
hvetate resolution
length
ou
the proposed
value by
of
the shares of this Company. He also expressed his con-
viction that no other Company would be allowed to make
the line by Macclesfield and Lichfield but this, for it
would be ridiculous to have three lines all r unning pa.
rallel to each other in the same direction. lie would

wish to disabuse the public mind of the impression that
the London and Birmingham Company had too much to
do. Ile would rather see a train start every ten minutes

than as at present ; it could be easily done if they had a
little more station room. He concluded by denouncing
the many chimerical schemes that were now in the mar-
ket, and said he would never take shares in one of them.

•
The resolution was then put, and unanimously
adoF:ted ; after which
The CIIAIRDIAN read a letter from Mr. Westhead,
tendering his resignation as Chairman of the board, but
the meeting resolved to send a deputation to request that
he would retain the President's chair, and keep it per-
manently.

A vote of thanks was then passed to the deputation,
and also a special vote to the same effect to Mr. Rawson
individually, for the manner in which he had effected
the negotiation.

its being chosen for such purpose, it would then become,
from a small town, a large and flourishing sea-
port. The Commissioners for inquiring into harbours, ex-
pressly state that it would be, had it good communication
with the interior, the best port for landing and shipping the
West India mails. They say that its waters are perfectly
safe and tranquil in the most tempestuous weather, so that
the mails could at all times be put on board, or landed, and coals
be taken in. It is not our object to establish a comparison be-
tween Falmouth and Dartmouth ; but it is sufficient to state that
Dartmouth has merits of its own, which make good its claim to a
large traffic. The Dartmouth and Exeter line gives the
necessary connexion with the Bristol and Exeter Railway
at Exeter, and so with Bristol, Gloucester, Birmingham,
Liverpool, Manchester, Leeds, and the north; while the
Yeovil lines, or other direct lines will give the main thing
—a short communication with the metropolis. Brixham is
another important point which is accommodated by this line.
Brixham is the port of Torbay anchorage, and has shipping
belonging to it of 20,000 tons, besides fishing craft.. Brix•
ham employs 1,500 seamen, and the merchants are very de-
sirous of having railway accommodation. Torquay, an ad-
mired watering-place, is now a steam-boat station to the
Channel Isles; and there are also the towns and stations of
Paignton, Newton, Chudleigh, and Moretonhampstead.—
Exeter Paper.