The Press. — London, England, 1858-06-19 00:00:00

THE PRESS, JUNE 19,1858. to keep the market alive for the next fortnight, and tend to maintain the terms that have been required in the present week. A considerable demand for bullion has prevailed from the Continent during the week. A good deal of it has arisen out of payments for silver purchased to send to the East; but the French Exchanges have become rather un favourable, and gold has been sent to Paris on com• mercial account also. The stock of bullion in the Bank of France must consequently have received a further addition. The arrivals of gold since our last have been no less than 1,062,406/. ; and the exports to the Conti nent 576,6981., exclusive of 10,5001. to the West Indies. As the continental demand had to be satisfied before the bulk of the arrivals were reported, about 172,0001. in bars have been withdrawn from the Bank ; but this amount will probably be replaced out of the considerable balances on hand. About 500,0001. are still en route from Australia; but the supplies from the United States are rather falling off. The Finds, and all descriptions of securities, continue dull; and the tendency, throughout nearly the whole week, has been towards depression. The want of business is assigned as the main cause of this state of things; and the explanation of the causes of the want of business is partly commercial and partly political. Private capitalists are holding aloof from investments in stock of any kind, in a great measure from apprehensions of the effects that might follow upon unfavourable news from America or from the continent of Europe. The losses of the last ten months are not yet recovered even by the greatest houses; and the caution which they are exercising is followed and copied by traders of almost every other class. The indisposition, therefore, to enter into mercantile enterprizes of a speculative character has communicated itself to those whose callings or capital permit them to deal in stock or shares, and they are deterred from operating by the same motives of prudence. This explains the inactivity of the Stock Exchange, and affords a clue to the lamentations of the mass of the members of that establishment, that as the public are not dealing with thorn they are reduced to dealing with each other,—a practice which is not attended with any very great advantage. Meanwhile, Consols, though very dull from the absence of speculation, are com paratively steady, the decline in the current week having been nominal only. Railway Shares have suffered most for the traffics, which a week or two back promised to re cover, are again unfavourable, while the end of the half year being at hand it is certain that the dividends will be less than those for the corresponding half of 1857. Foreign Stocks are also lower, but with little or nothing doing in any of them. Console, which left off last Friday at 951 to 96 ex dividend, maintained the same quotations in the early part of the week. Subsequently they declined to 95f to;, at which they closed yesterday. 'fn•day they closed at 95i to I, dull but steady. Considerable purchases have been made in Reduced, during the week, on public account. Foreign Stocks have been very little dealt in. Turkish Six per Cents have fallen about a half per cent.; and the Scrip of the New Brazilian Loan has receded to f to j die. The fortnightly settlement in Railway Shares took place on Tuesday and Wednesday, and it passed over without difficulty. The rates of continuation, owing to the abun dance of money, were low. But since Monday, owing to the causes assigned in a preceding paragraph, there has been a fall of from one to two and a half per cent. Cale donians and Great Western Stock have been the chief subjects of this decline ; but all, more or less, have been parties in it. French Shares, however, owing to certain arrangements between the Government and the companies with regard to the branches remaining to be made, and to the operations of the influential capitalists, have rallied, but they were weak today. Banking, Land, and Mining Shares have scarcely changed. Among the latter, however, there has been a serious decline in Santiago shales, through an accident to the mine. Exchequer Bills remain at 325. to 365. prem. The Jnne Bills, issued on Wednesday, are at a premium of 17s. to 215., notwithstanding the reduction of interest to I id. per diem per cent. The Continental Exchanges, with here and there an exception, are about the same as last week. The shares in the Atlantic Telegraph Company, 1,0001. paid, have receded to 4801. to 5101. This price, however, is only nominal. The half-yearly meetings of the Joint-Stock Banking Companies have commenced ; and, so far, the dividends declared show no diminution in the profits of those establishments, notwithstanding the abundance and the cheapness of money and the little demand for it for some time past. The full effects, however, of the plethoric state of the market will not be visible in this way until the succeeding half-year. The Bank of Australasia, on Monday, divided for the year a dividend and bonus equal to twenty per cent; and so satisfied were the proprietors with the management that they increased the remuneration of the Directors from 2,8001. per annum, to 3,6001. The Bank of British North America have divided at the rate of six per cent., and the prospects of the National Provinci il Bank of England are such that the proprietors yesterday increased the allowance to the Directors by 1,000/. a year. The prospectus is given in another column of a most promising scheme for extending the system of telegraphic communicationlwith India, It is that of the Great Indian Submarine Telegraph Company, whose objact is to establish a chain of lines from Falmouth, to Gibraltar, Malta. and Alexandria, and thence, via the Red Sea, to Aden and India, upon the plans of Mr. Allan, the most effective yet known. Important results In returns for the capital invested are a certaintv, from the cheapness with which the system can he worked, and the business that is sure to be done. The undertaking is therefore most favourably regarded in the City. The Mediterranean Electric Telegraph Company have divided at the rate of six per cent per annum, for the seven months they have been in operation. The Provincial Trade Reports are still satisfactory. A fall in cotton at Liverpool has rather checked the demand for Manchester goods, as the manufacturers are firm. But, on the whole, the industrial occupations of the country are progressing, while there is every prospect of a most abundant harvest. GOVERNMENT OF INDIA.—The private journal of the Marquis of Hastings, Governor-General and Commander in-Chief in India, just announced for publication, will be a most important acquisition at the present moirent. The journal commences from the day of his landing, and re cords the great events of his government with the impor— tant results following. The Marquis bequeathed this journal to his family, and his noble daughter, the Mar chioness of Bute, has decided on its being published now that the question of the Government of India is under discussion, and requiring that every possible light should be thrown upon it. Bin News von THE Bernal AWL—The correspondent of the Times with the British army, writing from before LucknoA, says:—" The camp guiders ham manifested their spirit of avarice and their want of enterprise here as in Europe. Bad beer is 245. a dozen ; a better quality coats 30s. I paid the other day 70 rupees, or 1405., for a dozen of trendy of ordinary quality. Gin is nearly as dear. There is no wine fit to drink for any money. The con coctions called port and sherry are ludicrously bad. A smell tin of biscuits costs 11., and so in proportion, or out of it, for every article of the few that can be bad. The beer issued by the Commissariat, or rather sent up by the Calcutta authorities, is so harsh and sour that it is, I hear, all to be condemned—a fitting punishment, if the price came out of their pockets, for the cut horities, whoever they were, who rejected an offer of Ailsopp to supply the army with the best ale at a few shillings above the usual price paid by the Governinent." FROM THE LONDON GAZE TTE. Tuesday, June 15. BANKRUPTCY ANNULLED.—Jscon lauc DM Jowls, Mark•lane, City, merchant. BANK RU PTS.— ROBERT CUMBERLAND, Addle•street, Wood ►treet, fancy goods manufacturer—CHAßLES GARLICK, H gh• street, Guildford, ironmonger— Nunes! Ror.re, Regent•street, pianoforte maker JOHN COWEN, Newcaale•under•Lyme, Staffordshire, travelling draper—Gsoaog 111,1311tRD RIMMING TON. Wymondham, Leicestershire, grocer, draper, and general dealer--Joats LOCKWOOD, Moli•greea, Kirkheston, Yorkshire, cloth manufacturer—done WILLIAM HOLDERNESS, Kis3ston upon•Hull, timber merchant and commission agent-8011CW EDWARDS, Mold, Flintshire, joiner —JOHN WALL, late of South• port, Lancashire, carpenter and joiner. SCOTCH SEQUESTRATIONS.- -ALExsurint Moo and Co., Bank, New Cumnock, coal masters—Tnousit WEDS, ISIS of Stratford, near London, now at Fort William, InTeT111011W•••• GEOROE CHRISTIE, George •street, Aberdeen. grocer— GALLowst and LI/MSDRN. Glasgow, masons and builders—DONALD CAMS , SELL. Glasgow, grain slid provision merchant—Davin and WILLI tit SMITH, Laariston•street, Edinburgh, grocers and spirit dealers. Friday, June 18. BANKRUPTS.—Tnonas J. CLARriON, Liverpool, pu , illeito-•• %TORN MoREWOOD, At6ollll.one, WarWckshire, grocer—Atri a/thin W. LAIDLAW, Saint Mary Axe, City, dealer in cigars JOREPH A. lizacien, Queen's Head Passage. weargate•street, bookseller-01'011oz H. RIIIIIINGTON, Wymondham, Leicester shire, grocer—WILLIAM PARROTT. Leicester•sgnare, bo4t and shoemaker—WlLLlAM F. STRZET, Austin Friars • City insurance brok , r—Fassetti H. MAra and ROBERT H. Main, Henrietta. street, Cocent•gerden. publishers—JAmes Mums futon. High street, Bow, gasfitter--BastAxim ROWLEY Wakefield. York shire, maltster—Joust F.. WlLictasos and MANY MARVIIL, Newcastle•upon•Tyne, innkee oers—WILLT 4W 00 nORE. Man' cheater, commission agent—Jolla 0. BoLnv, Halifax, dealer in small wares—EDWARD BORKINIRAW and WILLIAM HUDSON. Knaresborough and Wetherby, eumera. and Russell are the representative heads. These are among the evidences of Conservative reaction ; they are facts which will every day become more manifest, and which cannot be too readily appreciated by those interested in the future government of the country.- 1 am, sir, your obedient servant, June 5, 1858. FAER TRADE. MANNING THE NAVY. TO THE EDITOR OF " THE PRESS." Sir,—Commissioners have at length been ap ',lied to devise " the best - "s for ing the poini _ means for manning the navy," and a correspondent of the Times suggests that the corps of Royal Marines should be trans formed into seamen ! The suggestion is so ludicrous, or rather so absurd, that I am inclined to consider it to be either a joke or the vision of a maniac. " A sailor is always a sailor " and f‘ a marine always a marine," and any attempt to amalgamate the two professions might produce consequences dangerous to our naval supremacy. It is a well known fact that our gallant seamen aro too rash to be intrusted with the management of a shell gun ; and I find in the list of the wounded—for of course they are not mentioned in the despatches—that some soldiers of the Royal Itlerne Artillery are attached to the celebrated Naval Brigade in India. An ex-Whig sea Lord of the Admiralty, when out of office, suggested in his place in Parliament the propriety of forming the corps of marines into ar tillerymen ; but when in office, he found it con venient to forget the suggestion. One of the many causes that deter seamen from volunteering their service is, to use their own words, heing " drilled like sogers," for nothing is more disgusting to a seaman than the manual exercise. I shall not further notice the fallacies of the correspondent of the Times than to say that I am not aware of drunken seamen being enlisted in any corps in her Majesty's service, and that the colour of an Englishman's jacket has nothing to do with his love of country.— I am, sir, your obedient servant, ONE WHO HAS SERVED. Itioneg Varket anb (EN 'lntelligent. FRIDAY EVENING. THE return of the Bank of England for the week ending Wednesday last, the 16th inst., shows the following changes compared with that for the week preceding : Decrease in Circulation fnc;;;;;; in Public Deposits Decrease in Other Depnsits. ... Increase in Government Securities 51,479 Increase in Other Securities 21,949 Decrease in Bullion Increase in Rest Increase in Reserve Bullion in both Departrnerts Circulation, including Bank Post Bills The addition to the Public Deposits, while contracting the circulation, has increased the Reserve; and the stock of Bullion has undergone rather a large diminution, princi pally for export to the Continent, as mentioned below. The Private Deposits are lower, owing to some establishments having been able to employ their means advantageously out of doors ; but from the trifling addition to the other securities it is evilent that the transactions of the Bank itself in loans and discounts are upon an extremely mode. rate scale. The other changes in the return are not im• portant. During the week there has been a moderately increased but certainly not an active demand for money, the appli cations for which have gone almost exclusively into Lom bard-street and to the Joint-stock Banks. It may be said that the additional inquiry has proceeded from a commer cial demand. This, however, is only partially the case, as the requirements of trade have not enlarged to any appre ciable extent; but, on the other hand, large payments have been made on account of revenue, while the near termination of the half-year, when numerous balances are adjusted, have imparted to the inquiry the aspect of a greater commercial demand. The banking and discount establishments which have enormous reserves, on which they are deriving little or no profit beyond that afforded by investments in the Funds or Exchequer Bills, have taken advantage of this temporary condition of the market to increase their terms for advances and discounts to two and a half and two and three quarters per cent. As the Bank maintains the three-per-cent. minimum, the outside competition carries away the mass of business, though in the course of the week rather more has been done at the establishment. With respect to the immediate future of the Money Market, the probabilities appear to be on the side of a continuance, if not of an increase in the demand, at least until provision has been made for the acceptances at maturity in the early days of July. Large payments on account of duties have still to be tnade betore the half•year expires, and an instalment of twenty-five per cent. upon the Brazilian Loan, besides several railway calls, will be due by the end of the month. These claims can scarcely fail BIRTHS. PRlClt—On the 14th instant, at Bath, the wife of Lient•Colosel Price, Bombay Army. o• a son. VICARS—On the 14th instant. at Leamington, the wife of Colonel Wm. Henry Vicars, of a son. MARRIAGES. SACQUEFIN—RAYNES—On the 10th instant, at Brighton, J. Mo'r Macqueen. Req., son of the late Colonel Macqueen, Madras Anny, to Mary, daughter of the late Edward Baynes, Eeq , Belmont, gusset. If ER—C LARK F.—On the 20th of May, at St. John's, Bar badoes, Captain Dugald Stewart Miller, 87th Regiment to Elizabeth, daughter of Sir Bowcher Clarke, Knt., Cbtef Justice of that !eland. STREET—HOLROYD—On the 9th instant, at Colehester, Lieut.• Colonel John Alfred Street, C. 8., to Sothis Baker, daughter of the Rev. James John Holroyd, rector of Abberton Essex. BUNTING—On the 16th in -tent, in Myddleton•eguare, the Roy. Jebel: Bunting, D.D., aged 80. GIBBS—On the Rth instant, at Hertford, Michael Gibbs, Esq., late Alderman of London, aged TR. HAWKKR—On the 13th Instant, at Clifton, near Bristol, General Sir Thomas Hawker, Colonel of the Bth Dragoon Guards, aged 81. HONYCHUIICH—On the 11th instant, at Stoke Newington• green, Mrs. Juletta Honyehurch, aged 92. HORSLF.Y—sOn Vile 12th instant, at Kensington Onvel•plts, Wm. Horsley, Mua. Bee., Non. aged 34. HOLLOWAY'S PlLLS.—There is no hazard in saying that the popularits of Professor Holloway's re medies in this country is without a parallel. The instances In which sick persons, professionally condemned to death, have recovered under the operation of these miracle-working Pills, are so numerous And well authenticated that the most stubborn incredulity is silenced. Hosts of sneerer. from indigos ion, liver complaint., nirvana debility. dlaorde s of the b melts. epi leptic firs, and other diseases have balm care 1 by this unap proachable medicine when every other m,•ana had failed. The press teems with the testimonials of the parties; and, while we wonder, we are compelled to believe.—Sold by all medicine vendors throughout the world, and at Professor Holloway', Establishments, 944, Strand, London.