The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1849-05-28

From the London Mercantile Gazette. May Ill
No alteration has take place in the tone Of the
trade since last weekthe dependency which has
been for long time the prevailing characteristic in
regard to all matters connected with the agricultural
interest continues in full force, and the most sam
guine begin to view the effects OF free trade with ap
prehenson. Supplies on a large scale continue to be
into the country from abroad and farmers
are completely beaten in their own markets. The
government appears, however, determined to proceed
with free trade measures to sacrifice other great in
terests, and, by manGuvring, have managed to OBJ
tain majority of ten the second reading OF the
bill for the repeal of the navigation laws The wea-
Their has, since the commencement Of the week. been
of rather unavorabe character but tins mas NTH
erto produced effect on business. 1t is certain
that the cold northeast winds must have tended to
check vegetation and following such hot forcing
weather that previously experienced the change
has no doubt been trying to the young crops Our
whole, encouraging; and 80 long as nothing OF a dc
cidcdly inanspcious nature occurs, prices must be
forced down by the extent of the foreign supplies
considerable proportion of the wheat which has lately.
come to hand has been from Hamburg and other
ports blockaded, and from whence no further re-
ceipts for time be expectcd but from Holland,
France and Belgium, shipments continue to be made;
and ere long we may calc uate ON receiving
supplies from the other side Of the Atlantic There is
consequently, prospect Of the arrivals falling OIL so
to afford farmers chance Of realizing better
prices for what they still hold and this conviction
has induced them to bring their forward pretty
freely Of late and the supplies have far exceeded the
demand. We can, however, notice increase in the
arrivals of homegrown into the port of London,
which regard as proof that IN the near counties
of English wheat received from Saturday night up to
last evening amounts to only $50 qrs and the guam
tty brought to Mark lane by land carriage samples has
been equally unimportant. On Monday. there was
slight increase in the show from Kent but the Essex
stands very indTerenty filled The millers ap'
peared however to be in want and conducted their
Operations with extreme caution A few picked par.
GELS placed at about former rates but decline OF
Is per quarter generally submitted to on the com.
descriptions without enabling factors to effect
clearan several runs remained unsod at the close
These again offered Intellectually at the abatement
named on Wednesday hardly bargain being closed
O
nearly the positon refusing to accept less
money, and the millers declining to pay former rates
Foreign wheat has to hand very freely. Upwards
43 900 quarters arrived here during the week ending
Saturday last and II 2O quarters have since been
ceivd Some Of the cargoes are being landed on &C
count Of importers; and unless the country demand
improves, this will have to be more generally
adopted the town mers are not disposed to add to
their stocks. The business done Monday was by no
extensive and the prices realized were Is to Is
per quarter below those current that day night
at which abatement the sale has since been exceeding
ly slow There have been inquiries during the week
for floating cargocs Of Polish Odessa wheat of the
coast on Irish account but the prices offered have
been deemed too low by sellers hence few contracts have
been closed The nominal top price of town manufac-
tured -four has undergone no change but household
and all sorts of foreign manufactured Hour has been
offered at lower rates than last week Barley of home
growth has come forward sparngly. but the mating
being nearly over, the sale has been SLOW On
Monday decline Of Is quart took place and there
sellers cay at that decline OF foreign barley
the supply has been than equal to the demand,
and buyers have had the turn in their favor. The
ccips Of oats from our own coast and Scotland have
small and from Ireland have been received;
but with large arrivals # foreign the tendency Of prices
has CONTINUES bdownwaIds. Most of the sales made on
Monday at rates Cd. per Or below those current
on that day sennght and TO clear vessels coming on
demurrage, further small abatement was in some in
stances submitted to this morning. Beans and peas
have in consequence Of scarcity and owing to the no.
tion that the present weather is acting unfavoraby
the growing crops advanced Is to Is per quarter in
value Holders of floating cargoes of Indian have
asked full rates, which has interfered with business
and the transactions have not been of much import