Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1847-09-25
THE LATEST COMMERCIAL REVIEW.
PROM TIE EUROPEAN FINES OF SEPTEMBER 4.

PROM THE EUROPEAN TIMES OF SEPTEMBER A.
The continued pressure in the money market, and the nu.
merous failures which have occurred in the corn trade, still
render it out Of our power to announce any improvement in
the general trade Of the country. Whilst, however, our
manufacturers are contemplating a cessation Of their opera
tons, and other branches of industry are exceedingly depress-
ed, the colonial markets, especially for sugar, still exhibit
considerable %buoyancy, and importers would, no doubt, under
more favorable circumstances, secure higher rates for.their
produce. Al
Our corn market, since the 18th ultmo, has experienced
again a serious decline of prices. The top price OF the best
description of wheat was at that time quoted al about CTS. to
6ss. per quarter, the same quality will not command at this
moment more than 55s., whilst the best American flour in
Liverpool barely sells at 25s. per barrel. On market day of
The 10th ultimo prices in Mark lane fell about Is. perquarter.
During the week succeeding a fall of Is. or 3s. more took
place on the 30th a further decline of about SIS. to rs. was
established; and at yesterdays market in Mark laue wheat
was again sold at from 2s. to 3s. per quarter reduction bring
ing us down to the present rates. In Liverpool the auctua-
tons have not followed the London markets SO invariably as
hitherto, perhaps for the reason that the depression Of prices
has been less extensively disastrous here than in Lonbn. In
deed, during the week succeeding the 10th ultimo prices of
American flour rallied a shilling or two, but one or two fail
ures IN the trade occurring, prices again gave way. During
this eventful period the weather, with intervals of some in
%terruption, has been splendid for gathering in the harvest,
which, as far as it has proceeded, bids fair to be an average
lot wheat, and fully an average one for barley and oats. Some
endeavors have been made to create an alarm for the failure
Of the potato crop, and in this neighborhood we have seen in
stances OF disease but, comparing all the various accounts
which have reached US from Great Britain and Ireland, we
are OIL opinion thai, however In particular instances partial da-
mage may eventually arise, upon the whole, il bears not the
most remote comparison with the destruction of the past year,
and in Ireland the abundant cultivation of other escnlents
renders any partial damage quite of secondary Importance.
In Indian corn the losses to importers will be enormous. The
price of best Indian corn in Liverpool is not higher than 26s.
to 32s. per quarter of $50 lbs. This article has been in ex-
tensive demand for feeding cattle, and large quantities, da-
mayed, we know to have been taken for purposes of manure,
at prices below the current value of guano.
Since the sailing of the Caledonia the cotton market has
been in a very dull and inanimate position, and prices for
American descriptions have receded from id. to i'd. per Id.
The trade continue to buy sparingly, and this is likely to be
their plan for some time to come, unless a decided change for
the better takes place. The sales since the 18th utimo are
4l,3lO bales, of which 2, 100 American and 45O Surat were
taken on speculation and 3, 100 American, 200 Pernam, 80
Egyptian, and l50 Surat, by exporters. The imports of all
descriptions during the same period are 81, ZIG bales. From
the tenor of the advices brought by the Hibernia it would APP
pear that the yield of next seasons crop will be below an
average. Should this be the case, it will undoubtedly prove
a most discouraging circumstance for the manufacturers Of this
country.
American cured provisions are in moderate request. Full
prices are paid for bacon of fine quality, whilst the inferior
descriptions and smoked can hardly find buyers. The sup
plies of beef are still on a limited scale prices are, there
fore, well supported, but the transactions reported are only of
a trifing character. The better quality of cheese is sought
after and is scarce, but that lately arrived finds buyers with
much dIficuly at 2ls. The transactions in pork are limited,
and hams are rather unsaleabe.
The tobacco markets, both here and in London, have been
rather firm during the past month, and steady prices for Ame-
rican descriptions have been obtained. The transactions,
however, are upon a more limited scale, and although they
may continue so, il is likely that the value of all descriptions
will be maintained, at least until more favorable accounts are
received from the United States. AT Liverpool the stock this
year, compared with that Of 1876, is now 37s hhds. less,
while in London it is l,4l9 hhds. greater. Havana sorts
have met with a good demand in London, and advanced prices
are reported to have been paid.
In consequence OF rumors of potato disease-which, by the
way, we are disposed TO regard with extreme caution-rice
has met with rather a better demand, and prices during the
week ending August ~ slightly improved but as the ari-
walls OF breadstufis, both from America and the continent of
Enrpn I'M on n lava eoala n lan.a. III 49, .l -
London has rather fallen of during the last few days prices,
however, are, on the whole, steadily maintained.
The iron trade has been more steady than almost any other
branch OF business during the last fortnight for, aided by
that depression so general in commercial circles. Manufac-
tued iron, both here and in London, continues in good de-
mand, and full prices are paid.
A better feeling prevails in our market for salt, and as there
are larger quantities being exported, prices rule with a degree
Of greater frmness. Since the 18th ultimo the following ex-
portations have taken place, viz To Baltimore, 95l tons
white Boston, s7I do; Halifax, 3s5 do; Miramichi, 10
bags do; New Orleans, 926 do; Newfoundland, 7s3 do.
New York, $50 do; Philadelphia, l02 do; Portland, 800
do; Portsmouth, A. s., 400 do; Pictou, $50 do; and st.
John, n. b., 200 do. and 80 tons red.
Sugar since our last, compared with other articles of pro-
duce, has not participated in the general depression. A con-
siderable business was transacted during the week succeeding
the 10th ultimo, and British West India met with ready buy
ers. During the last ten days the market has indeed improv-
ed, and brown descriptions Of British plantation have advanc-
ed about Is, and grocery sorts Cd. to Is; and merchants ge-
Morally are disincined TO further sales unless at a greater adj
vance. The market Is altogether firm. The arrivals in Lon
don exceed the past year by 3 1900 tons, and the stock is
heavier by 10000 tons nevertheless, as the home consump-
ton is greater by IA, 500, and for export by $780,, the pros
poets for the future, considering the steady consumption now
going on, are satisfactory. The transactions in foreign sugar
have been laterly pretty extensive floating cargoes Of yell
low Havana have obtained 24s. to 25s. per cwt.; white Bahia
25s.; brown 2ls. The demand for crushed sugar refined, in
bond, is less, owing to the diminished means Of the consul
mers in the south of Europe.
Most of the articles classed under the head Of naval stores
are in good demand. As the stock of turpentne in this port
is chiefly held in one hand, buyers, who have been very eau
tious in their operations, and only purchased to supply imme-
date wants, are obliged to pay advanced prices. The sales
Of American rosin have been made at higher prices. The
sales of tar are limited, the article comes forward slowly, and
is exhausted.
The state of trade throughout all the manufacturing dis
stricts of the United Kingdom is gloomy and unsatisfactory.
This remark applies both to cotton and woolen fabrics. The
late accounts from lndia-the stringent and
ing character of the late movements Of the Bank OF England,
in enforcing 81 per cent. for discounting paper Of short date,
the numerous and heavy failures which have taken place in
the corn trade, and rumors Of the temperance of the potato
disease, have all tended to depress trade in the districts sllud-
ed to. Our usual monthly report Of trade in and around
Yorkshire show that the trade in the Halifax PIece-hall Is
duller than usual, scarcely any goods finding purchasers. The
yarn market, also, has been decidedly hauer through the last
week though the low rates so long current, not being equal
to the cost, prevent any giving way in price. As to long
wool, the staplers are anxious sellers at old prices, and short
wool remains without alteration. A better prospect seems to