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Leader (1850-1860), 27th November 1858, Edition 1 of 2, Page 1298, Untitled Article

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      Untitled Article

      London , Friday Evening . At Mark-lane to-day the market for wheat was dull and oats were something cheaper . It is noticed as a curious circumstance that malting barley is now as dear as wheat . - The corn market has been firm m the week , quite in accordance with our statement last week , that the price of wheat had probably reached the lowest point . This is important , because as soon as the markets begin to acquire an upward tendency , and not before , as the rule , speculative action commences . The change will be neither sudden nor great , out it Drices have really reached the lowest , the tide will floodwith what velocity

      now turn , and the , we cannot say , will begin . Under this aspect , it is worth noticing that the crop of wheat in the United States , which was not great per acre in . l 857 , though a large breadth of land was sown , is damaged and poor in 1858 . According to the latest advices from New York , the grain and flour markets were on the rise * though the export of flour and wheat to our markets was from September 1 to November 5 , considerably less than last year , 60 , 773 barrels flour , and 293 , 064 bushels wheat , against 189 , 152 barrels flour in 1857 , and 1 , 534 , 797 bushels wheat , while the quantities exported were still larger in 1856 . The States have therefore sent and are sending us a much smaller

      quantity than in either of the two previous years , and at the same time the markets of New York are now on the rise . Consistently with this , we notice that the quantity of wheat brought by canals , &c . to New York in 1858 , was 1 , 200 , 000 bushels less than in 1857 , and 1 , 700 , 000 bushels less than in 1856 . In 1856 , however , the quantity arriving in New York was much increased by the demand from England , and the quantity arriving in 1857 and the early part of 1858 , was diminished by the

      speculative convulsion , which affected all the cities of the seaboard . The condition of the corn markets in the United States is further worth noticing , because it supplies a proof how much commerce may be deranged all over the world by political events , and how excusable merchants ought to be in the eyes of politicians if the / do not immediately comprehend all that ia » delusive in momentary flushes of prosperity . ' ? The Crimean war , " says the New York Tribune of the 6 th instant , " created , in conjunction

      with short crops in . Europe , a great and sudden demand for our grains and provisions . We were blessed with prosperous seasons , and were able to supply this need of our European neighbours . We exported vast quantities of provisions , and were paid for them at a generous price . We were rapidly growing rich ; and all sorts of speculations , railroads , western towns and cities , and the purchase and sale of western lands , were entered upon and prosecuted upon the basis of the ¦ perpetuity and even growth of this provision trade with Europe . " , , . and

      But Europe has ceased to waste destroy by war , and the crops having been good , the Americans now export not half so much as a year and a half ago , and for what they export they do not get half so much money . There is no prospect either that the European demand should again increase to what it ¦ was in 1856 . The interior of the States is bare of goods ; but it is still more bare of money , and until there is a revival of prosperity in the States equal to that of 1856 and previous years , we cannot expect a revival there of the great demand which formerly existed for our goods . W 6 see , therefore , that the great demand formerly occasioned by the war in

      Europe helped to erect in the United States that vast speculation from the falling of which we all suffered . From , these circumstances we conclude that the interior of the States , which was swept as bare as possible in 1656 - , and in 1857 , if we recollect right , was obliged to carry back some of its own agricultural produce , baa now but little , if any , more than usual to send forward , and that prices are more likely to continue to look upwards than tend further downwards in the States . At the same time we learn from Smyrna , of the 3 rd instant , that the harvests of Asia Minor were very poor this yearj that cereals generally were short at Smyrna ; that wheat was in demand , and a rise in pricer anticipated . As in

      other countries , population and consumption have there increased . Thia is true of every part of Europe ; and as the increase began with extended traffic , and was shown most distinctly in towns and cities , there is more reason to look everywhere for a rise than a further fall in the price of food , and , as consequence , of other commodities . Notwithstanding the largo consumption of 9 ugar tea , &c , recorded in the trade tables , the Mincinglan ©> markets are not active . Prices are not toad , consumption is large , but there i » noue of the speculative demand which gives life to the market . Such a state of things is very advantageous to the planter , who flndB a ready sale for his produco , and has been lately doing Very well ; bat to tlw middle man or agent , who flndj Ws advantages Xu a rising market ,

      it is hot so beneficial . In the week a good business has been done , and the markets are firm . For rice there has been a demand * and the price has rather advanced , which corresponds with the general firmness of the grain market . It is noticed as a curious fact , and indicative of the comparatively well-being of the people , that the consumption of treacle is not at present great , though the price is only 11 s . per cwt The lower classes , which used to be great consumers of this article , now prefer and use butter , though it is considerably dearer . Altogether the trade of the week has been very satisfactory . No large amount of business is re ported from any of the manufacturing districts , but a fair demand for most of bur staple manufactures

      has prevailed generally , though in one or two instances this has not been the case . Manchester has been tolerably busy . The orders from Bombay have helped trade considerably . Liverpool has not been so brisk in her cotton sales compared with last week , but the advance which was then obtained has not disappeared . From Birmingham we learn that the iron trade is in a satisfactory condition , particularly bo when trade now is compared with the condition in which it was thrown at the same period last year . One cheering feature is that the leading masters are known not to have any very large stocks on hand , and as a good many orders from America are held over for the present , it is not unlikely that

      more than ordinary activity will prevail in the spring . Indeed , we shall be pretty sure of having a brisk demand from America for some time to come , unless , indeed , prices are forced up to that high scale which will compel the Americans to exert themselves and to pay additional attention to their own inexhaustible mineral resources . From the north and other coal districts our advices report that the quantity of coals brought to the pit ' s mouth , notwithstanding the strikes , is very good . The coal trade , generally , is showing every day a greater degree of briskness , and further improvement it is expected would speedily take place if the men on the strike would listen to the dictates of common sense and their own

      interests . There are agents—principally disaffected colliers—going about in the coal districts , endeavouring to induce the weak-minded to join in the strikes , and to agitate for an advance of wages . We understand it is the determination of the principal masters to resist all attempts at dictation and intimidation . They consider that the present price of coals will not admit of an increase in the rate of wages , and this , they hold , justifies them in taking every lawful means to check combination and to keep wages as they are , Leicester appears to be doing a good amount of business in all kinds of goods suitable for the season . In other districts the hosiery trade is reported to be in a flourishing

      condition . Many large orders for shipping are in course of execution . The accounts from Nottingham are not so encouraging . The lace trade , it is said , continues to be very much depressed , but better times are expected . In Leeds , Huddersfield , and Bradford , business is steady but not very large . The wool trade , for foreign and English wools , is active . The Board of Trade returns show a large falling off compared with the imports and exports of last year , which may be described as the year of " accommodation-bill" trading . With the collapse of the paper-capital firms , of course , an end came to the kind of trade , both import and export , which thoy carried on . The difference between the trade

      returns now and of the same period last year may be assumed to Joe represented by the amount of trade done by those collapsed firms , coupled with the diminished business which legitimate traders would only feel inclined to transact immediately after such a crisis as has just passed away . With reference to the large falling off in American exports , iron in particular , it is well known that large orders from America are on hand unexecuted . Wo have little doubt , when confidence in the stability of railway and other arms in the United States is fully restored , that wo shall see this branch of trade resume its original aotivity and extent . Trade generally in the metropolis is dull ; but this is the season when dulness is expected . ' . . „

      Lxvurpoox ., Nov . 26 . 1— -Cotton . —The market for the week has been steady , and prices unchanged . Surat , 0 sd . to 6 d . | Egyptian , 7 ^ d . to 8 d . ; Pernam , 8 d . j Bahia , 7 id , to 7 Sd . * American , 5 d . to 8 fU . MAKOutHSTEB , Nov . 23 . —The market retains the symptoms of improvement reported last week , and we have had a good general market for cloths suited tp Calcutta and Bombay . In some instances cloths for these markets are realising a slight advance ( some reports say l ^ d . per piece ) , and a disposition is evinced to give out orders for aorao months forward . The home trade are not buying much at this season , bat there is sufficient business to keep prices very firm , T-cloths and printers aro in some demand for the Levant . The yarn market is also very firm , and for descriptions required for Germany and Holland a slight advance ( about jd . per lb . ) is obtainable for immediate delivery . From 16 ' sto 28 ' s warps and

      2 O ' s toSO ' s weft may bo included as conimandinj ; this advance . 1 he market is regarded as firm 3 healthy . ana Leeds , Nov . 2 G . - ^ vVooi ^ en . —We have . had bur a moderate attendance of merchants in the halk owing to ¦ - the thick weather . Business has been limitviL . Stocks are , however , very low , and havt * been well picked over , leaving very little choice at present . Lkickster , Nov . 2 G . —There was a good amount of business doing in the warehouses in all < r 00 ( jg suitable for the season , ami the present severe weather is all in favour of the demand . Superior classes of wools are very dear . In yarns no material change .

      Nottingham , Nov . 26—The lace trade continues exceedingly depressed . Stock-taking is near at hand , and very little has been doing- in the warehouses during the last few days . Nearly all branches continue to participate in the ilulness . A steady trade in the staple department of our manufactureis expected to continue for some time . Material is without much chancre .

      Untitled Article

      REVIEW OF THE WEEK . Wincing Lane , Friday Evening . The markets liave undergone very little change sineo last week . Arrivals are still retarded by contrary ' -winds , and the supplies on offer have therefore been upon the same limited scale as of late . Purchases continue to lie made only as compelled by immediate requirements , which in one or two instances have boon of sufficient magnitude to establish « i further enhancement in current values , but as a general rule trade is as inactive as it usually is at this period of the year , and prices are free from anv material fluctuation .

      Cokn-. —— The supplies of English wheat at Mark-lane have been very moderate , and the demand having somewhat revived , full prices wore obtained in tbe general transactions , whilst choice samples were Is . per q . r . dearer . Good and prime white qualities made 46 s . to oOs . ; prime heavy red , 44 s . to 15 s . ; runs , 12 s . to 43 s . ; common , 40 s . to lls . Foreign was also in moderate supply , and were firmly held , Dantzic at 51 s . to 50 s . ; Louvain 47 s . to 4 i > s . ; " , 44 s . to los . ; French red , 43 s . to-lls ; and line St . Petersburg , 42 s . Hour has been purchased to a fair extent , and prices are rather firmer than otherwise . Town made , 50 s . ; town households , 34 s . to 3 "> s . ; country households , 80 s . to 31 s ; Norfolk . 29 i . to 30 s . per sack ; French brought 34 s . to The

      37 s , per sack , and American 25 s . to 2 t » s . perbnrrel . arrivals by Eastern Counties Kail way were 11 , 71-2 sacks , and tbe deliveries 11 , 479 sacks . Grinding descriptions of barley are taken off freely at - »« s . to 27 s . ; choice malting qualities command 45 s . to 40 s . readily , modium . The market is now pretty well cleared of old Qualities , of which prices are merely nominal ; new malt is hrm at 60 s . to 69 s ., according to quality ; 7874 qrs . arrived by Eastern Counties , against 800-1 qrs . delivered . Beans have found a tolerably ready sale at late rates . Peas have been more in demand , the cold wcjitlier having stimulated consumption . The simply of outs lias moderated , the market is firmer , and with a w » amount of business , prices are lid . higher for all goou

      corn . The floating trade has been dull , ns buyers reservo their orders in the expectation of increased arrivals with a change of wind , LONDON AVERACJrcS . Qva . s . <*• Wheat ... i 2 . > l at 43 1 Hurley : 1270 „ « 7 1 Mult' — ' > „„ '"¦" , Oats 1 ^ 07 „ 25 4 Beans 219 „ « 7 J Peas 102 „ 48 V COIW AIUUVAIJ 9 . English . Irish . * owtf \ . Wheat qrfl . 51 ) 80 — •}» ' ' Barley „ 2059 — 4 iil > 1 Malt ,, 10 , 06 * 2 — " 7 , Boana „ 800 — * ' Pons „ a ; K > - JJ Oatfl .., „ 1852 — - *'''" Flour , aka . 17 , 207 . — - _ Ditto ,..,........ brls . — ~ . . „ , „ Skbds . —Arrivals liolnjy kept out by onstorly w : > and the stocks consequently reduced , l" ' ; ° , J "" advanced . Bombay linaood brings fifis ., "ntl Lnio mi « , 62 a . to 54 s . Two cargoes Taganrog , o « " c ? f ' ' !' , sold at GOs . ; f > ls . deliverable U . K . ItnpoBOod taw I " out material change iu valiiQj Calcutta brlntf » 0 «* . £ fi 8 s . < fd . ; lino Bombay , ( IBs . Od . to Glh . ; to ^ ° middling , 48 s . to 5 B » . Unseed calces have Jjoii » ' ( Irmly hold , but higher prices liavu hoou linidly c > uuti » able . * , „ , fu ll Hopa . —Fino qunlitiofl contlnwo in vequoat at < prices , but all otlivr doHorli > Uy"B ai-o vory dull ui »« and prices noxt to nomlaul .

      Untitled Article

      GENERAL TRADE REPORT .

      Untitled Article

      HOME , COLONIAL , & FOREIGN PRODUCE MARKETS .

      Untitled Article

      . 3 .-29-8 ' THE LEADER [ No , 453 , November 27 , 1858 .

  • Citation
    • Leader (1850-1860), Nov. 27, 1858, page 1298, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2270/page/26/