The Sun.
London, England, 1842-11-02 00:00:00

THE WINE TRADE

The following correspondence of the leading mem-
bers of the Portuguese wine-trade with the Foreign-
office bears immediate reference to the state 'of negotia-
tions with Portugal :
"20, St. Swithin's-lane, London,. Oct. 15, 1842.

"MY LORD,—We the undersigned British mer-
chants, having establishments at Oporto and Lisbon,
engaged in the commerce in Portuguese wines, re-
spectfully beg leave to represent to your Lordship the
great and serious injuries under which we have been
for a long time labouring—injuries which are daily
increasing—in consequence of the entire stagnation of
the trade in wines, owing to the expected reduction
of duties.
" That which thus affects us affects the whole of the
wine-merchants of the United Kingdom in an equal,
or perhaps a greater, degree.
"We feel satisfied that her Majesty's Government
must be anxious to do all in their power to avert
these evils, and to relieve the wine trade from its pre-
sent most embarrassing situation ; and we venture to
point out to your Lordship, that had it not been for
the declaration that the usual drawback on duty paid
stock in dealers' hands would not be allowed, the pay-
ment of duties on wine would have gone on as unin-
terruptedly as ever (as in 1834, prior to the reduction
of 1835), and that the impetus given to the wine-
trade, whenever the duty shall be reduced, would, if
the return were granted, be such as rapidly to reim-
burse the Treasury the amount so returned.
" Whatever may be the ultimate decision of her
Majesty's Government on that point however, we beg
most earnestly to press upon your-Lordship the adop-
tion of every measure which can tend to bring this
long -pending negotiation with Portugal to a speedy
issue.—We have the honour to be very respectfully,
my Lord, your Lordship's most obedient and very
humble servants,

[Here follow the signatures.]
" To the Right Hon. the Earl of Aberdeen."
ANSWER TO THE PETITION.

" Foreign-office, Oct. 25.

" GENTLEMEN—I am directed by the Earl of Aber-
deen to acknowledge the receipt of the letter which
you and several of the principal merchants engaged
in the commerce in Portuguese wine have addfessed
to his Lordship, representing the stagnation which at
present prevails in that commerce, in consequence of
the new duties not being settled, and calling upon
his Lordship to adopt every measure for the speedy
settlement of those duties ; and I am to state to you,
in reply, that the amount of those dUties is included
in the various points which are now in negotiation
between Great Britain and Portugal, and that every
exertion is making to bring the negotiations to a
speedy conclusion. —I am, Gentlemen, your most
obedient humble servant,
H. M. ADDINGTON.
" To Messrs. Sandeman, Forsters, and Co.,
and others."

THE MARKETS.--(YESTERDAY.)

COLONIAL.

SUGAR.—There continues to be a fair business
doing in British Plantation, about 500 hhds having
been sold at fully former prices, and the market con-
tinues very firm. The public sales have consisted
chiefly of 2,184 bags 41 casks Bengal Sugar, and
128 casks Molasses. The whole of the Sugar found
ready buyers at 51s to 60s 6d for good brown to
good bright yellow, and a small portion of low
to fine white at 63s 6d to 70s 6d, which are rather
higher prices. The Molasses sold at 26s to 27s for
good quality, being the extreme value. Privately
no transactions have taken place worth re-
porting, with the exception of large parcels of yellow
llavannah, of mid quality, consisting of nearly.2,ooo
boxes, which have been sold (for export) at 19s 6d,
being the extreme value. The quantity of British
Plantation landed last week, at the East and West
India Docks, was 3,824 hhds 385 tierces 51 barrels,
and there were taken for home consumpton 1,478
hhds 167 tierces 133 barrels. The stock in the
same places is, 17,508 hhds 2,174 trcs and 1,717 bris.
COFFEE.-1,320 bags Ceylon at auction was all
disposed of at 62s to 62s 6d for good ord, and a few
kits of inferior at 61s to 61s 6d, which is a decline of
fully is to 2s since Friday week. Fine mid Jamaica
Coffee is 137 s to 1425, and fine Mocha 80s to 90s
per cwt.
RUM.—The quantity landed last week at the East
and West India Docks, was 587 puns 99 hhds ; there
were taken for home consumption 312 puns 45 hhds,
and exported 300 puns 125 lihds. The stock in the
same place is 13,867 puns 2,422 hhds.
SALTPETRE.—OI 861 bags at auction the whole
was taken in above the value, viz., at 29s 6d to 30s for
3t per cent refraction.
TEA.—This article is firmer, and in some instances
a shade higher, though the business doing is limited.
We quote Congou is 61d to 2s sd; Twankay is 7,1 d
to 2s ; and Hyson 2s to 4s 9d per lb.
TALLOW.—P.Y.C. is quiet, at 48s 6d per cwt on
the spot; and Town at 51s 6d per cwt.
FRUIT.—The inquiry is increasing, but the large
arrival of Currants have reduced prices. Old Zante
and Cephalonia at 46s to 48s per cwt. New Valentia
Raisins are in request at 365. Turkey Figs, 655.
CINNAMON.—The public sales consisted of 825
bales 64 boxes Ceylon, 774 bales 11 boxes Malabar,
70 bales Tellicherry, and 68 bales 1 chest Java. The
Ceylon were principally taken in at is advance, and
the Malabar sold at full prices.