The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-08-22 00:00:00

GENERAL TRADE REPORT.

Monday Night.
Our Exchange flags were cleared somewhat earlier than
usual to-day, by the storminess of the weather, which
threw a damper, in more respects than one, upon com-
mercial negotiations. It has been truly said that at this
season of the year the corn markets are invariably weather
markets ; and at the present time, when monetary disor-
ganisation is known to follow deficient crops, the
influence of atmospheric changes is to be felt with great
susceptibility throughout all the ramifications of trade.
We have continued to hope, in spite of the discouraging
accounts which have reached us from time to time, that
the prospects of the partial destruction of the various
plants which supply the food of man might have been
exaggerated, by interested parties, for the purpose o f
raising prices, and that in reality the damage would prove
but trifling. But everybody cannot be wrong ; our own
eyes come into court unwilling witnesses to the truth o
the statements; and we are reluctantly compelled to ad-
mit, that unless the weather exhibits a marked and speedy
alteration, the Grain harvest will be gathered in very poor
condition ; and unless almost a miracle intervenes, the
Potato crop will be a most disastrous failure. Meanwhile
large orders for Breadstuffs went out to America by the
mail-boat on Saturday, although, owing to the low limits
it is not expected that the whole will be executed. Be,
this as it may, further orders must doubtless follow.; and
according to present appearances—(the rain at this mo-
ment is pouring a deluge)—nine or ten millions of quar-
ters of grain, say at a cost of about twenty miliions ster-
ling, will be required to stave off the horrors of starva-
tion. We have at present a large stock of Rice in the
country, and are capable of greatly increasing our imports
of this article; and we take this opportunity of recom-
mending its more general adoption as an article of ordi-
nary consumption ;—already the demand has sensibly in-
creased, with the anticipation of the failure of our crops
of home-grown food. Every department of speculative
investment is getting more narrowed, owing to the pros-
pect of a tightness in the money market, which is opera-
ting in a most prejudicial manner even on those branches
of national industry which are requisite for supplying the •
everyday wants of the community. Consols closed on
Saturday, both for money and account, sellers at sq.
The unsettled state of the weather having induced
holders of Wheat to demand higher prices here again
this morning, the transactions which have taken place
are only to a moderate extent, and an advance of id. to
2d. per 70th. has been paid ; Indian Corn has been held
at the prices of Friday, but, in the absence: of speculative
demand, there has not been much doing ; and these two
articles form the chief staple of the trade here at the pre-
sent time. Letters received from most parts of England
and Ireland speak of the continuance of wet weather, and
the consequent slow progress of the harvest, which is at
present in a very precarious state, with rising markets
everywhere. The complaints about the POTATO disease
are also increasing, some of the most favourable accounts
only holding out hopes that half the crop may be saved :
it must, however, be borne in mind that a far greater
amount of land than usual is this year in Potato cultiva-
tion :

Waterford. Aug. 19: Potatoes continue to be pressed in
large quantities on the market by our farmers, who fear they
will not keep, and are sold at ad. per stone of iGib. The disease
is becoming more apparent in the tubers every day, and fears
are entertained that the present heavy rains will cause it to
progress rapidly.—Belfast, Aug.l7 : There can now be DO mis-
take as to the identity of the Potato disease of this year with
that of 1816; the only question is as to the extent to which it
may spread in the present crop. As to this the reports are
various, some placing it at 15 to '2O per cent., whilst others run
up so far as to say there will be not less than a loss of 50 per
cent. on the entire crop; and the misfortune is aggravated by
the reckless manner in which the farmers are raising and con-
suming, or selling them.—Cork, Aug. 19: The constant wet, it-
is thought, adds to the destruction of the Potato crop, now
almost generally complained of.—Limerick, Aug. 19: We have
nothing to add to our remarks of last week touching the Potato
crop, further than that the disease continues to progress in
both the stalk and root. The improvement in the weather
noted in our last was but temporary, as it has rained almost
incessantly the entire week, with the exception of Thursday.—
Cappogu;it' Aug. 19: The Potatoes are doubtless much in-
jured; still should even half hold good, we shall not certainly
retirgehmareAtuhqa.nlre.haelf tolipinlinodnirerCeosreneimmsp7.ortt latsifLetat
though they have been attacked with disease, yet having ar-
rived almost to maturity before it extended itself to the tubers,
and they being so very productive in the ground, that more
than half the crop will be saved in good condition.
A variety of evil influences have affected the SHARE
Market during the week. There has been every day the
unsettled, doubtful weather, deluging the-gathering in of
the harvest and aggravating the potato disease, to which
have been added—the effect of the London and North-
western report throughout the country—the supposed in-
tention of the bank directors to raise the rate of discount
—the almost certainty of another outbreak in Paris:
these have all lent their aid to lower prices deeper than
they were ever known before. On Saturday, it was gene-
rally believed that government would propose this week a
grant of money to Ireland; if this be attempted we can
look for no reaction in the price of shares in this winter;
but should there be no foundation in the report, and Pro-
vidence send us some settled weather, we may hope to
recover somewhat this last awful depression. The Mid-
land meeting was held on Saturday, and declared a divi-
dend of six per cent., leaving a surplus of 2,000, this
being a diminution of one per cent. ; and an unfounded
rumour that Mr. Hudson was about to leave them
brought the stock down from 94 to 86 at first, but it has
since rallied to 91. It was said Mr. Hudson was to leave
them in consequence of an arrangement he has made with
the Great Northern to run into the York and North
Midland at Burton Salmon, and that by this route he
contemplated taking the Scotch traffic from the London
line when the bridges over the Tweed and Tyne are com-
pleted. This seemed very probable, and was generally
credited. The meeting of the South-eastern Company
was held on Thursday, when a very satisfactory report
was made, and a guinea dividend declared. On the same
day, the Great Western meeting was held, when a divi-
dend of seven per cent. was declared, with 7,500 surplus.
The Eastern Counties have divided the same amount as
January, Bs. per share. The London and Brighton, 13s.
These are all the meetings of any consequence yet held.
To-day, the York and North Midland and York and
Berwick meetings take place. We hope to give some
particulars of them in our second edition.
Another week of dulness has further depressed the
CorroN market, and, on comparing the many Brokers'
circulars before us with information derived orally, we
are somewhat at a loss to fix the amount of declination
on the week, up to Friday. The precise point at which a
difference in price amounts to a quotation, is a somewhat
difficult problem to solve ; and this week, while prices of
all kinds are in favour of the buyer, in no case does the
reduction amount to id., middling qurlity American ap-
proaching nearest to it. The sales of Cotton TO-DAY are
about 4,000 bales, chiefly American, at 3d. to sd. per lb.
The market has been flat, without any material change in
prices. About 500 bales have been taken for export.
There has not *seen quite so much doing in Foreign
Wool, this week; but prices are without any material
change.
In consequence of the high rates fixed by holders of
AMERICAN Lard, there has been little transacted, the
quotations for actual sales remaining the same as last week.
In Bacon and Shoulders an improvement in price has
taken place, a good business continuing to be done in the
former. Hams are unchanged in value, with a dull sale.
The reduction in the price of Pork has caused an increased
demand, and the sales for the week are to a greater extent
than in any week for some months past, without, how-
ever, any variation in price, holders meeting buyers freely.
Beef presents no new feature. Nearly all the Cheese of-
fered
at auction last week (2000 boxes) was sold, about
200 boxes small, ordinary quality, for 205., a large portion
for 335. et 365., and some fine quality for 445. ® 495. ;
one lot realised 58s. 6d., which was much more than its
value, owing to the rival biddings of two competitors.
IResx Provisions continue nearly a dead letter. Butter
is offered at from Is. ® 2s. per cwt. decline, but the dea-
lers resist the temptation to purchase, except to a very
trivial amount of the finest quality, owing to the smallness
of the consumptive demand.
The TIMBER trade here has sustained during.the last
week a slight check, and prices have rather a downward
tendency. The arrivals have been light latterly in most
woods, with the exception of deals, which come in large
quantities and rather overstock the market. At a sale by
auction, a cargo of Honduras mahogany was sold, also a
cargo of Cuba. at fair prices, with other fancy woods.
There was a highly respectable attendance of buyers.
The Scotch Pig IRoN market is without animation,
and the transactions during the week have been to a li-
mited extent. Prices at Glasgow:—No. 1, good brands,
455. 6d. ; No. 3, good brands, 445. Gd., nett cash.
The demand for Ashes has been good, and sales made
to the extent of 300 barrels Montreal Pots at 265., and
small sales of Pearls at 30s. per cwt. The transactions
in Baltic Hemp areunimportant. Jute is in good demand
at advanced prices, 1000 bales selling at £l6 for common
up to £2l for very fine : Manilla, 150 bales realised £36
per ton. Distillers having shown more disposition to get
a stock of Turpentine, has resulted in sales of 2500 bar-
rels of good quality at 7s. 6d., and 160 barrels of very
choice at Bs. Gd. per cwt.
In the London produce market the business transacted
has been only on a limited scale, and the importers hav-
ing shown less disposition to hold firmly, a decline in the
value of some articles has taken place.
According to the last return of the Bank of England,
the amount of notes in circulation is £18,165,729,
being a decrease. of £526,390 ; and the stock of bullion in
both departments is £13,364,991, showing a decrease of
£31,663, when compared with the preceding return.
The advices by the Indian mail received yesterday, le-
present no improvement in commercial matters in the
east. Distrust and want of confidence had, if anything,
The
increased. Both the import and export markets had been
characterised by great dullness and langour, th
latter, a slight improvement had become apparent.
ough in
money market had undergone no improvement. The
transactions in exchange were very limited, and most of
the shipments which had gone forward were for purposes
of remittance.
The Europa brings advices from America to the 9th
instant. Exchange on England was 1091- to 1094. The
market for cotton was quiet. The news by the outward
steamer did not aid holders, who were operating without
spirit. Western, flour was dull of sale, holders not show-
ing any disposition to reduce rates. Freights.—There was
more offering at the closing rates of previous day. 20,000
bushels of corn were taken for Liverpool in bulk, at sd.
Cotton was steady at 5.32 d., while 3.16 d. was asked.
Heavy goods stood at about 17s. 6d. A vessel was engaged
to load with corn for a direct port in Ireland, at 84d.
It will be seen that the condition of our West Indian
colonies is now almost hopeless. At Jamaica there w
barely enough of sugar at market to 'beet the
mend for consumption, which, added to the hope ente• -
tained of the retirement of the present ministry, had
caused sugar to sell briskly at 17s. to 21s. Leaf tobacco
was extremely dull; with an ample Ripply at market. Its
nominal value was 60s. to G2s. per 1001bs., long price.
Vessels were not plentiful. Freight was extremely dull,
and the regular traders found it difficult to get filled by
the Ist of August. The following are the rates to Liver.
pool :—Sugar, per ton, aE3lOs. • coffe per cwt., .£4.