The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-02-23 00:00:00

FINANCIAL AND COMMERCIAL SUMMARY.

The favourable news brought by the Halifax steamer,
combined with the defeat of Lord George Bentinck's rail-
way scheme for Ireland, gave a buoyant tendency to our
money market towards the close of the week, the demand
both at the bank and out of doors being lightened. More
cheering accounts are beginning to be entertained of the
sufficiency of the supply of food ; and speculation in grain
of all descriptions has, in consequence, received a check
which promises to be a permanent one.
The transactions in our market for cotton have been
limited, at reduced prices, the quantity sold.during the
week being only 14,520 bales, of which speculators took
1250, and exporters 1050, leaving 12220 for consumption.
The imports have, on the other hand, been rather large,
viz., 48,391 bales. Prices are fully d. per lb. lower at
the close of the week, and ld. below those of the Ist of
January. The short crop outcry, like most other previous
outcries of the kind, has given way to a great extent. The
produce, it is now stated confidently, will reach 2,100,000"
bales, whilst some even predict 100,000 more. The pick-
ing for the season commenced at least a month later than
last year; yet the arrivals at the ports already exceed
those of a corresponding period of 1846 by 20 or 30,000
bales. The extensive reduction of the hours in the fac-
tories will tend to render the deficiency in our total stock
on hand unfelt.

In the manufacturing districts all is gloom ,• and the
fall in the price of the raw material, instead of bringing
the prices of yarns and cloth into something like a rela-
tive proportion to that of the raw material, appears to
have created increased distrust and disinclination on the
part of purchasers to come freely into the market. The
millowners in the district of Stalybridge—the last to
adopt the short time movement—have begun to work
eight hours a day ; and although some houses in other
districts have resumed full hours, there is every prospect
that a further restriction must be resorted to, and too
much prospect that some mills will be compelled to cease
working altogether. The state of some of our foreign
markets, however, affords a hope that a revival of the
energy of our manufacturers is not far distant. In the
United States a large spring business has already been
done; and the rich harvest, which is being reaped by the
American farmers must result in increased orders for
British fabrics in return. The same cause must operate
to our advantage in some of the Continental markets.
Our colonial advices received during the week are upon
the whole encouraging.- From the Mauritius, our ac-
counts received to the 11th December state that the ex-
ports of sugar up to the 30th November, last year, were
45,134,2001b5., against 35,056,9991b5. in the preceding
year. From Jamaica, however, we have discouraging ac:.-
counts. A recent communication states that,—" During
the whole of 1846 the exports of British goods to Colom-
bia and Cuba barely equalled the half shipped in 1845 ;
and the trifling sum refunded in drawbacks by the Re-
ceiver-General testifies the limited amount of our foreign
commerce. Our foreign trade is also leaving us. The
heavy imposts in the shape of tonnage duties, and the
high rates from freight, place us in most unequal compe-
tition with other islands, particularly that of St. Thomas,
which, although not so advantageously situate in a geo-
graphical point of view, possesses the advantage over us
in every other respect. The island or home trade has also
considerably diminished compared with what it was in 1845,.
Here agricultural distress has been severely felt, in adcfi-
t on to the system of heavy taxation, direct and indirect.
The trade of 1846, taken altogether, must be regarded as
the most unsatisfactory since the year 1841."
Accounts from St. John's, New Brunswick, to the, 23d
January, quote the rate of sterling bills 8 per cent.
Freights for England had been effected at 365. for timber,
and at 111 s. 3d. for deals. White pine was quoted 275.
6d. to 30s. ; red pine 15s. to 205., and birch 15s. to 225. 6d.
By the arrival, on Sunday, of the packet-ship Oxford,
from New York, in 17 days, we have New York papers to
the 4th instant. The information which they contain is not
very important. In cotton a pretty large business had
been done since the sailing of the steamer, although the
market was less excited—prices firm. Up to the last
dates, there was an excess in the arrivals of cotton at the
ports of 29,394 bales over those of last year. The ex-
ports, however, from the United States to this country,
still exhibit a decrease up to the last dates in this year as
compared with the preceding two years. This may in
part be attributed to the high freights asked and the pre-
ference given to bread stuffs.
The advices from New Orleans are to the 25th ultimo.
Business had been dull in cotton previous to the arrival
of the ship Aberdeen, bringing accounts of the advanced
prices in Europe, which created great excitement in the
market, and a large business was done at advanced rates.
The closing prices are quoted at ordinary to good ordinary
9/ to 10/, middling 10,i to 101, good middling 101 to 101,
middling fair 10 to 11, fair Ilk to 111, good fair 12 to
12}c.
. _ _

The adviccs from Savannah are to the 29th ult.. at
which date the market was very firm at an advance of lc.
closing at inferior 91-c. to 9tc., ordinary KC. to 1014 c.,
middling:lolc. to lOic., middling fair 101 c. to 10.1 c.;
round bales of a similar quality are about lc. to c. per
lb. cheaper ; sales of the week 4,231 bales. Transactions
in Sea Island limited ; sales 157 bales.

At Charleston, Jan 30, the advices, per Hibernia, had
caused an advance ofl to le. per lb.
At Mobile. to the 23rd, a large•business had been done,
the sales for the week ending 23rd ult., being 23,500 bales
at 10 to 111 cents.

The corn markets at all the ports had been driven
upward by the advices per Hibernia, but were showing
symptoms of dulness at the last dates. The advance,
however, taken in connection with the decline here since
the departure of the steamer, will ensure the recurrence
of some ruinous reverses amongst the speculators in the
article. From January 23d to 30th, Genesee flour rose
from 45,62 to 55,68 i per barrel to 47. at which sales
were made. Wheat, on the 23d January, was at s'l,lo
to 41,12 per bushel ; on the 30th it was $1,50, sales.
Indian corn roe from 72c. to 76c. per bushel on the 23d,
to 81 on the 30th.

Freights to Great Britain, &c. have still further advanced,
the supply of vessels being entirely inadequate to the demand.
To Liverpool the engagements have been at 7s. for Flour,
(7s. &l. asked,) 22d. to 25d. for Grain in bags and bulk, (26d.
asked ahead,) 80s. for Cheese, 7-16 d. for square Cotton, (itd.
asked ahead,) &c. ; to Newry 25d. for Corn in bags Bs. 3d. for
Flour; to Cork and a market, Bs. for Flour, and 25d. for Corn;
to other Irish ports, 7s. 6d. and 240. to 25d. To London there
is no change. To Havre there is not much offering; 1 dollar
374 cents is asked for Flour. We hear of several ships char-
tered at the eastward, to load at Philadelphia and Baltimore,
for Liverpool, at 7s. 6d. up to 9s. for Flour, and 24d. for Corn
in bags; and some in Philadelphia at Ss. to 95., including one
yet on the stocks, at the latter rate.
To Liverpool : Cotton, Bq. and rd. bales 7-16 d. to id. per lb. ;
Wool, id. ; Seeds, 15s to 16s. per tee. ; Beef, 128. ; Beef and
Pork, Bs. per barrel; Flour, Is. Turpentine, North County,
' Is. to Bs. ; Leather id. per lb. • Heavy Goods, 758. to 80s. per
ton ; Grain, in bags, 23d. to 25d. per bushel.
EXCHA NOE.-There has been nothing of importance done n
Foreign since our last, and our quotations are nominal ; Bills
on London sixty days' sight, & sterling, 5t to fiti per cent.
premium ; bills on Paris, sf. 40c. to sf. 374 c.; bills on Amster-
dam, 30ic. to 392 c.; bills on Antwerp, 390. to 391 c. ; bills on
llambargh, Marco Banco, 341 c. to 35c. ; bills on Bremen, rix
dollar, inc. to 77&c.
The New York Morning Herald of the 4th instant, in
an article on the agricultural resources of the United
States, remarks that hitherto restrictions in Europe had
discouraged their cultivation. " These obstacles," he
continues, " are now, in a measure removed, and the
agricultural resources of those States will hereafter be
most rapidly developed, and we shall, even with our ex-
travagant anticipations, be surprised at the annual pro-
ducts of such States as Indiana and Illonois. These two
States can, if pushed, with favourable seasons, prodtice
enough to supply our whole demand for consumption,
leaving the production of breadstuffs in all the other
States to supply any foreign demand that may arise."
The quantity of wheat grown in the United States was,
in 1843, 100,310,856 bushels ; in 1844, 95,607,000; and
in 1845, 106,548,000 bushels. The quantity of corn was,
in 1843,494,618,306 bushels; in 1844, 421,953,000 bushels,
and in 1845, 417,899,000 bushels. The :estimate for
1846, the correct returns not being available, is, that
the aggregate product was 124 per cent. over that
of 1845. The product of wheat is put down 'at
119,866,500 bushels, equal to 23,973,300 barrels of
flour; and of corn 470,136,375 bushels. The surplus
flour left for exportation, leaving sufficient grain for seed,
is estimated at 3,173,000 barrels, or about double the
quantity ever shipped from the country.
Our contemporary says that, " Fifty cents a bushel for
Indian corn, pays the producer a very handsome profit,
and is equal to wheat at one dollar per bushel. We have
no doubt contracts to any amount can be made now for
corn, deliverable next fall, at fifty cents per bushel ; but
our advice to the farmers is, avoid all contracts."
This speaks volumes in proof of low prices of grain, so
soon as our emergency is past, and average seasons in this
country lend .their aid to the process of reduction. The
value of wheat, corn, and cotton produced in the United
States in each of the past four years has been as armexed:
VALUE OF WHEAT, CORN AND COTTON PRODUCED IN THE
UNITED STATES.
1843. 1844. 1845. 1846.
Wheat.... /495,295,313 86,046,309 105.548,000 134,849,912
Corn ...... 276,986,251 210,978,500 292,329,300 376,109,100
Cotton.... 52,236,206 47,965,885 65,326,160 90,000,000

Total.. ...8424,517,770 344,988,694 464,603,360 600,958,912
To the manufacturers of this country, to which the
greatest part of this surplus produce of the American .ex-
ports have come, this ought to bring encouragement,
especially when it is known that the ex Ports from this
country to the States have been so far light in proportion
to the ability of the country to consume.
The annexed statement exhibits the number of pack-
ages exported to the United States from Liverpool for the
months of September, October, November, and Decem-
ber,. 1845 and 1846 :
PACKAGES OF DRY GOODS EXPORTED TO THE UNITED

STATES FROM LIVERPOOL.
N. York. Bo,toxi. Phila. Balt. Booth. Total.
1845 13,490 4,237 3,143 635 1,012 22,537
1846 10,895 3,208 3,735 82 1,361 19,881
This shows a falling off of 2.656 packages in the last
four months of 1846, compared with the corresponding
period in 1845.
PaovisioNs.—The market for Ohio Pork continues in an
excited state, and prices have further considerably advanced.
The sales are about 3,000 barrels, at 11 dollars 25 cents to 11
dollars 75 cents for prime, and 14 dollars 25 cents to 14 dollars
50 cents for mess ; at the close, 12 dollars and 15 dollars was
Offered for 2,500 or 5,000 barrels; 200 barrels Baltimore prime
mess sold on terms not made public. Beef is very firm, and
prices gradually tend iqnvard; some 70) to 800 barrels country
and city have been sold at our quotatiods, which we have again
advanced; 200 tierces prime mess sold, a day or two since, at
17 dollars, now worth about 18 dollars. Of beef hams 400 to 500
barrels have been sold recently at 13 dollars to 13 dollars 50
cents, and 14 dollars is now demanded. Pickled meats are very
quiet : 50 tierces old Hams sold at 6, and 30 ditto sour shoulders
at 4 cents. Ohio Lard is wanted, and saves have been made of
500 kegs new at 9, and 400 to 500 barrel's, part to arrive, at Hi
to 8t cents. Butter and cheese are id fair request, and the
market is steady at our qudtations, which for the better 0,1a3"
ties of butter we slightly advance.
Export from ist to 3181 January,
. Beef 3,714 barrels,
Pork 6,147
Lard 18,193 kegs.
25 cash, the former price
3 dollars 124 cents to 4 dollars cent,
tc4l3.l.—itaihansacnotni tiirteliaeiidai,nagnodoscod demticartit etsfoiriaevxepobreet,ncbsioet
«tGriteal
for inferior broken. The market is very 11cm, and full rates
have been obtained.