The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-06-13 00:00:00

GENERAL TRADE REPORT.

Monday Night.
If any thing were needed to demonstrate the peculiarly
unspeculative nature of our present commercial dealings,
the last statistical return of the Liverpool cotton trade,
as given below, amply supplies the deficiency. We find
that the amount taken on speculation from the Ist Jan.
to the 9th June, 1848, was not one-eighth of that taken
during the corresponding period last year; whilst it is also
shown that it is not only in this department that the trade
has suffered, the exports having been less by 10,750 bales.
It is worthy of notice, however, that although the trade
has been so far limited, the demand for consumption
has increased 111,200 bales. That a vast quantity of mo-
ney is lying idle at a time like the present is not at all sur-
prising ; and it is satisfactory to know that consumers
bane not only kept pace with previous purchases, but
have gone somewhat beyond them. Our monetary affairs
still continue prosperous, and Consols may be quoted ge-
nerally higher, the lowest point during the past week hav-
ing been 831, at which they were once quoted on Satur-
day, in consequence of the arrival of lower prices from
Paris, and the insurrectionary news from Lahore. They
finally recovered, however, to 8.14- to k.
SHARES continue very dull, and prices of some stocks
have receded still further. London and North-Western,
which were last Monday 126, are to-day 122. In other
stocks (with the exception of Dovers, which are very
flat) there has been no material change in price. Royal
Assurance Shares still continue in demand at an advanced
price, and are only kept from a considerable rise by
Chartist excitement.
The transactions in the COLONIAL MARKET for the
last three or four days have not been large, owing princi-
pally to holders not pressing their produce for sale. Sugar
has presented rather a dull appearance : the sales are 100
hhds. West India, and 1000 bags Bengal, at previous
rates. There is not much activity in the Ruin Market;
31 to 38 per cents. will not fetch more than 2s 9d to 3s per
gallon. Coffee on the whole has been dull, particularly
for the inferior kinds : good and fine qualities are at the
present time rather scarce and in request, and have in
consequence supported formerprices. At auction, 1200 bags
of Laguayra of the new crop went at 36s to 57s Gd per cwt.
For Rice a limited demand exists, and it moves off but
slowly, at previous low rates. At sale 2,000 bags yellow
cargo went at 7s 6d to is 9d, and 500 bags mixed Bengal
raw, broken, and mixed, Os Gd duty paid. Jute con-
tinues to be in good request : 500 bales fetched £l4
to £l5 per ton for common to middling quality.
—ln London the public sales of sugar have been mode-
rate, and although importers have been tolerably firm,
they have again had to make a concession in price of about
6d. per cwt. Coffee has barely maintained previous rates.
The prices of tea have been well maintained, and for the me-
dium kinds and finer sorts of congou a slight advance has
been occasionally realised. Saltpetre has experienced a
further fall.

The demand for Foreign Wool, is still very languid ;
East India and Low Buenos Ayres are almost the only
descriptions enquired for. Of the latter, there have been
some large sales made during the past week. Alpaca is
in request. The public sales advertised for the 20th will,
it is expected, be postponed for the present, as part will
not be landed in time. Rather more has been done in
Scotch, principally in crossed laid and cheviot, but no
change in prices. Imports for the.week : Foreign, from
West Coast 128, previously 34,331 ; total 34,459.
Scotch, 22; previously 5,125; total 5,147. •
There was some demand for Scotch Pig IttoN during
last week, but the market is again dull, and prices may
be quoted 425. 6d. at Glasgow.
Still influenced by the large supplies of fresh Butter,
which pour into our country markets, the demand for
Tarsi' Butter continues limited, and prices are a little
easier; with the probability, however, of the haymaking
season commencing shortly in this district, we may look
forward to a better demand. The arrivals from Water-
ford and Cork to this port are somewhat diminishing,
whilst those from the northern districts are on the in-
crease : the imports for the week ending this day are
6741 firkins and 1145 crocks. Prices (landed): Water-
ford, new, 88s. to 90s. ; Carrick, new, 883.: Cork dry
thirds, 80s. ; Wexford, Carlow, 86s. to 883. ; Ballymoney
and Coleraine, 86s. The arrivals of Bacon are 114 bales,
sizeable samples of which are in good demand, but heavy
meat or inferior qualities move badly: Long./diddles,
free from bone, new, 565. to 58s. ; Short Middles, 58s.
Fine Keg Lard, 50s. to 525.
A fair extent of business has been done in AMERICAN
Lard by private, and at the public sale last week ordi-
nary qualities were disposed of at former rates, ar►d finer
descriptions at an improvement of is to is 6d, thus re-
gaining the loss of the previous week. Beef is in fair
demand. The market is well supplied with " prime
mess" Pork, and prices are not very firm. The sales of
Bacon scarcely keep pace with the imports, which are
large, and importers have given way in price is to 2s per
cwt. There has been a good inquiry for Hams in dry
salt, and all offering have been taken at 32s to 39s 6d ;
the market has also been cleared of old at about 30s. New
Shoulders have been taken at 22s to 255, and are in fair
demand. There is no Grease Better in the market, and
the article is likely to be very scarce this season, as we
shall have very little of our own.—Prices current

Cheese-(duty paid)-Fine, 48s to 52s per cwt. ;
43s to 46s ; ordinary, 33s to 425. Beef-U.S. (free)-Prime
mess, per tree. 3041 b., 85s to 92s Gd ; ordinary, 76s to 836, old
608 to 68s; extra, India, family,
&c., 97s to 105 s; ditto, per
half-barrel, 30s to 35s ;-mess per barrel, 200:b., 50s to 56s ;
ordinary, 40s to 465, old 36s to 40s; prime, 34s to 365. Pork-
U.S. (free)-Prime mess, 55s to 655, old 48s to 50s per barrel,
2001 b. ; prime, 40s to 455. old 35s to 40s; mess, family mess,
&c., 50s to GOs, old 44s to 50s. Bacon-(free)-Eastern, 47s to
51s ; western, 36s to 46s ' • shoulders, 22s to 265, old 208 to 22s
per cwt. Slums-Dried,, (duty paid,) old 20s to 30s per cwt. ;
in salt, (free,) 32s to 48s. Lard-(free)-Fine, in kegs and bar-
rels, 428 to 44s per cwt. ; good, in do. do., 39s to 40s ; ordinary
to middling, 375 6d to 38s ; inferior, and grease, 28s to 345.
Butter-Grease. (free,) 40s to 45s per cwt. Pilot Biscuit-
(duty paid)-15s to 20s per cwt.
There has been a slow, quiet CorroN market to-day ;
few of the trade here, and the sales not more than 4,500
bales, of which 1,500 have been purchased by one house,
(Wrigley's,) leaving a very limited demand for the general
buying. The transactions have again been almost exclu-
sively confined to the common class of American, at about
Saturday's prices. During the week the market has been
flat ; and although we cannot alter the quotations of the
previous week, the daily demand has been very freely met
by holders, and buyers have had an opportunity of making
a better selection, in some instances, probably on more
advantageous terms. There have been taken on specula-
tion this year 22,500 bales; ditto in 1847, 184,400; stock
in Liverpool 31st December, 1847, 363,530 ; ditto in 1846,
438,970; forwarded unsold this year, 10,220; ditto last
year, 18,050; increase of import this year as compared
with last, 191,613 ; decrease in stock as compared with last
year, 14,900; quantity taken for consumption this year,
562.500; ditto in 1847, same period, 451,300; increase of
quantity taken for consumption, 111,200.
The TIMBER. trade latterly has been very dull, the de-
mand being of the most limited nature since the Ist. Six
cargoes of American timber have arrived, and only one, a
cargo of Spruce Deals, Las been sold, at £7 17s. 6d. per
standard. Two parcels of Pitch Pine have been sold off
the quay, one at 191 d. per foot, and an inferior lot at 171 d.
per foot. From the yard an old cargo of Quebec Pine was
sold at 131 d. per foot.
The prices of TOBACCO are :-Virginia leaf faded, per
lb. on board, 2id. to 21J. ; ordinary sound, 3(1. to 31d. ;
middling, 4d. ; good. 41d. to sd. ; fine, 51d. ; stemmed
sound, 3d. to 6id. ; Kentncky leaf, 2d. to 4d. ; stemmed,
3d. to 51d. ; manufactured, 4d. to 9d.
There has been very little passing in the CORN trade
here to-day, except as regards Indian Corn and Meal,
which articles, meeting with an increased demand, have
again advanced in price, and must be noted, the former
Is. 6d. per quarter, and the latter ls. 3d. to ls. 6d. per
barrel, dearer than on Friday, 365. 6d. having been ob-
tained for Indian Corn. This, however, combined with
the improvement which took place on Friday, does not
make up for the decline which, as will be seen in another
page; took place on Tuesday. The markets generally
throughout the United Kingdom seem rather lower, the
only exception being Indian Corn and Meal. Imports since
Thursday :-Wheat, Coastwise, 1085 ; Europe, &c., 2100
qrs.: Malt, Ireland, 70 ; Coastwise, 420 qrs.: Oats, Ire-
land, 1350 qrs.: Beans, Europe, &c., 900 qrs.: Indian
Corn, United States, 1912 qrs.: Oatmeal, Ireland, 1230
loads : Flour, Ireland, 2168 sacks. Exports since Thurs-
day :-Wheat, Coastwise, 125 qrs.: Indian Corn, Ire-
land, 1650 qrs.: Indian Corn Meal, Ireland, 850 barrels :
Flour, Coastwise, 90 sacks ; 150 brls, : Ireland, 790 brls.

The amount of notes in circulation, according to the
last return from the Bank of England, is £17,779,405,
being a decrease of £32,550; and the stock of bullion in
both departments is £13,597,206, showing an increase of
£82,467 when comp-red with the previous return.
We have to-day to announce two further failures in the
RA.* India trade, the parties being Messrs. Kellsalla and
Co., and Messrs. Speir and Co. The liabilities arc not
large in either case, but the houses were both very res-
pectable, and had they failed a year or two back, the
amount would have been considerable. A succession of
bad remittances from India have led to these stoppages ;
but in the case of Messrs. Kellsalls, it is understood that
the resources of the firm were crippled some time ago by
the failure of Alexander Beattie and Co., of Calcutta ; while
in that of Messrs. Speir and Co. the death of the senior
partner is stated as the immediate cause.
The accounts of the banks of France for the present
week exhibit some important variations, but on the whole
they show no material improvement in the position of
that establishment, while as regards the government
balances they are again decidedly unfavourable. The spe-
cie had increased about £382,000, and the circulation
about £315,000. The private deposits have decreased
about £119,000, and the government deposits, notwith-
standing the approaching payment of the dividends, have
only increased £2,000. The total discounts have increased
195,000, a diminuation in Paris having been more than
counteracted by an increase at the branches. The most
remarkable item in the statement is a decrease of
£447,000 in the overdue bills ; since, although there is an
addition of £90,000 under the head of protested bills, it
is difficult to imagine that the balance of £357,000 can
have been met within the space of a single week. Pro-
bably, however, the explanation would be found in a
large number of renewals having been acceded to.
The Three per Cents. closed on the Paris Bourse on
Saturday, at 45f. 75c. ; the Five per Cents., €Bf.
The Brussels papers publish at length the statutes of the
banking establishment, lately constituted by joint sub-
scription, called the " Union of Credit." the professed
object of which is to afford assistance in the shape of dis-
counts to the commercial, agricultural, and manufacturing
interests.

The advices from Amsterdam of the 6th of June mention
the failure of the house of Mr. Jacob Post. From Ham-
burgh the letters of the same date report no alteration.
Money was still a drug at 21 per cent. ; and as regards
business, although some cotton had been sold, and sugar
inquired for, it was at prices " tremendously low."
It is mentioned in the continental papers that, as the
great majority of the creditors of Schaffhausen and Co.
have accepted the terms of liquidation proposed by the
committee of investigation, there is reason to believe that
the firm will, at no distant period, be enabled to resume
buainees.

IMPORTANT TO OUR SHIPPING INTERESTS
MEASUREMENT OF BRITISH SHIPS.

One would imagine, upon being initiated (if, that were
possible) into the mysteries of our shipping laws, that in
place of being, as we assume to be, the greatest maritime
nation in the world, we are in fact only tyros in the seve-
ral arts appertaining to navigation. We can certainly
build ships not to be excelled by any in the world if we
be so minded, but though we have arrived at the sublime
science of measuring a cask of ruin to an azimuth of half
a pint, we have not yet attained the more vulgar skill to
ascertain the true admeasurement of a good lump of a
ship within an approximation of one or two hundred tons,
as the size may be ! The old law of measurement was
faulty in the extreme, the depth of hold being considered
too insignificant for notice, and hence, to evade duty, (and
who would not if they could accomplish it legitimately !)
we had mercantile "poor mens' ships," that might carry.
a third more than their registered tonnage, because " wall
sided," to reduce the beam, and of such depth of hull,
by the super-addition to anything like fair proportions, of
a cellar under where the kelson ought to be, giving the
vessel when loaded an enormous draught of water, ,and
rendering her, when light, so crank and unstable, that
before the imported cargo could be all discharged, new
cargo or ballast had to be taken in, in order to keep her
on her legs, or, in other words, to prevent her from falling
on her beam ends ! Fraud could also be practised by the
mode in which the "perpendiculars" were to be struck
for length. The new rule (of 1836) is equally faulty,
giving a fictitious increase of tonuage. to
.British ships
which are subjected to it, while (mtrabtle dtctu!) foreign
vessels are measured, for dues, by another section of the
act of parliament, which, though it amoximates the true
burthen, gives them an advantage over our own ships
of, upon an average, 20 per cent in tonnage !
The maritime public ought to consider themselves much
indebted to our townsman, Mr. Henry Cleaver Chapman,
agent to Lloyd's at this port, and himself a nautical man,
for an able exposition of the injustice noticed, in addition
to his able pamphlet, published some few years ago,. on
the uniform and proportionate rig of square-rigged mer-.
chant vessels. He has expressed his ideas on the subject
in a circular, demonstrating, by help of a few simple but
accurate diagrams, the evils under notice, and "the
necessity of an inquiry into the present mode of measuring
British ships." He shows that the new method, adopted
in 1836, is a fallacy, and after describing the only really
true manner of ascertaining the precise tonnage—namely,
measuring and reducing to weight the water which the
vessel displaces, he states " that the nearest approxima-
tion by dimensions will be found to be by the 6th section
5 and 6 William IV., cap. 56, by which all foreign ships
are measured, whilst British ships are subjected to mea-
surement under the 2nd section, commonly called the new
mode of measurement, whereby a fictitious increase of
British tonnage of from 15 to 25 per cent. has been re-
corded since 1836, as shown in the following cases :

Ships. Tons old. Tons new.
Scotland....
Pemberton..
Ganges
and others. He remarks that from these examples it' is
clear that " all the statistical returns of British tonnage,
since 1836, are fallacious, as a standard of comparison,
and therefore the premises of the President of the Board
of Trade, and the Chairman of the Dock Committee, on
which they ground their reasons, and shape their mea-
sures, are erroneous, and all they assert should be taken
at what it is worth, viz.—a discount of 20 per cent. This
may, in some measure, account for the legislative wild-
ness so characteristic of the present age, and which may
be said to approach to statistical insanity, a madman being
described by an eminent philosopher as one who reasoned
well, but from unsound premises; that was, he acted
under a delusion, reasoning rightly, but mistaking facts."
He concludes by giving, as an example of the inequality
of measurement, the following " returns of American ships
trading to Liverpool :

Packets.

Isaac Wright,

NEW YORK PACKET-SHIPS.

West Point
Yorkshire .
Columbia .

American
measurement.

6th section. Gth section.
light dues dock dues
by Queen's by dock
measurer. measurer.
1252 1286 •

1161 40-15ths

1016 57-95ths
906 81-95ths
1050 25-95ths

1102 1150
1060 1058
1132 1168

1270 1334