Wilmington journal. [volume] (Wilmington, N.C.) 1844-1895, 1847-02-05
FROM EUROPE.
From Wilmer & Smiths European Times, jan
COMMERCIAL REVIEW.

The month that has elapsed since the sailing OF
the steamship Cambria has been of the most re-
markable ever known in the history Of the Cotton
trade. On the 4th ut. VIC stated that the market
was in excited position, and gave it as our O.
pinion that the advices which the steamship Bri.
tania had brought home few days before did not
warrant the advance which had taken place in the
value of the article. The operations during the
greater part of December exhibit an unusual 4
mount of speculation but the most excited time
by far was up to the 10th ult. The chief reason
given for such undue speculation were the known
deficiency of the new crop in America, the short.
other side of the Atlantic and the corresponding
Insignificant stock on hand in the United King
dom. These considerations had been influencing
the mind of the trade for some months but it was
not until the arrival of the Britannia with advces
from Boston to the 18th of November, that the
workings Of wild Imagination on the part of
sPecu ators became peculiarly visible. The Bri-
tannia arrived on the LIST, and the excitement com.
menced the following day. and continued up till
the 10th, the sales from the LIST to that date reach
ing the enormous number of 2Ro, $40 bales. The
excitement reached its climax on the l4th Of De.
ccmbcr. On that day no less than As, 900 bales
changed hands, of which $4,000 were taken BY
spectators. " it'll such an excessive demand
prices at once rese far beyond the calculations o
the most sanguine. Since the 18th the market
has been more quiet. but occasionally specuIator,
have come forward and augmented the sales, a.
we'll a preserved prices, which assumed decli
ming tendency, from finding their former level
The business done during the last fortnight Of
December amounts to SO, $50 bales. The tota
sales of the month, therefore, amount to upward.
of 100000 bales, and the advance in prices q,
compared with those quoted on the 4th ul,mo, ar.
for bowed Georgia, ID to Id per h.; Mobile I'D
Alabama and Tennessee Id to It'd; New Orleans
ID to I'D.
Next in importance to Cotton is the Grain trade
The supplies from the United States have lalterl,
been of a most extensive character, but stocks DO
ing previously reduced to very low amount, tn,
liberal arrivals that took place here seemed to hav
no effect, and the value Of American Wheat Flour
and Indian Corn, have been gradually rising y,
that, comparing our present with the quotations o
December 4, we find the rise to be az follows -
Wheat Is sd per 20 h.; Flour IS Cd to s. De
barrel; Indian Corn l2s to las per $50 h.; Cor
Meal IS per barrel. Whilst writing, accounts hav
reached u.s. stating that, at the market held in Lon
don yesterday, rise of IS to 4s per DR. in Whea
on the rates current on the 2sth ult. took place
An advance of IS to As was offered for India
Corn for future shipment. We are not prepare
to say whether present prices can will be main
tanned. The supplies to equal the demand whic
will prevail for some months must be enormou.
We altogether depend for these from America. Il
fact, if ireland continues in such state of famine
we need not fear lower prices but on the contrary
expect higher rates.
In the early part of December the transaction
in Rice were of limited character, but toward
the middle of the month the trade began to reviv
> and assume firmcr tone, and prices had increa
ed, although only to limited extent 1t is rath.
remarkable that this article. which has proved i
self such an excellent substitute for the Potato hs
not IN these times of scarcity. become an article
more general use. The value of the article cor
t'nues moderate Carolina is now quoted at "a
to 4os' and Patna 22s Cd per cwt.
The condition Of Ireland continues to be the al
sorbing object of attention. Day after day the d
tress continues TO increase, and famine il doin
the work Of death in various parts Of the counsr,
immense numbers OF poor haf-ssarvcd creature
3 ind their way across tne channel, and beg IN
exist as best they can by appeals TO the feelings
, !he Inhabitants in the great towns Of England.