The Press. — London, England, 1857-07-11 00:00:00

Cant l! Par ktt anD titg nitiligence. FRIDAY Evaxmo. Tuz return of the Bank of England for the week ending the 4th inst., shows the following changes compared with that for the week preceding : Increase in Circulation £327,424 Decrease in Public Deposits Increase in Other Deposits Decrease in Government Securities 1,157 Increase in Other Securities 327,315 Increase in Bullion Increase in Rest Decrease in Reserve Bullion iu Both Departments Circulation, including Bank Post Bills This comparison is scarcely so favourable as was expected, seeing that the demand for money last week caused a con siderable addition to the private securities, and induced a large decline in the stock of notes. The reserve, too, is affected by the diminution in the public deposits ; and as the dividends are now in course of payment, it will probably show a falling off for the next week or two, though of course the Bank will be receiving repayments of advances. The private securities now amount to 19,315,0001. The bullion exceeds 11,500,0001. and will be about 200,0001. more next week, so that in this respect the position of the Bank is very satisfactory. The Monthly Debtor and Creditor Account of the Bank of France, made up to yesterday, July 9, was published in the Mooriteur of this morning; and the following are the most important changes in the position of the establish ment compared with that for the preceding month : Increase in Circulation .. £1,581,868 Increase in Public Deposits Increase in Other Deposits Increase in Discounts Decrease in Bullion Increase in Advances on Public Securities Decrease in Advances on Bullion .... 24,880 Increase in Advances on Railway Securities Premium on Gold and Silver Pur chases Bullion (July 9) Circulation (July 9) Contrary to expectation, the Bullion shows rather a con siderable decrease, and the demand for money has been so active throughout France that the discounts have enlarged beyond recent precedent; while the advances on the security of stock and shares are about 220,0001. more Wan last month. In these respects the present return is not of a favourable character. The amount of commer cial bills under discount is no less than 23,400,0001., or 4,084,7991. more than the corresponding item in the return of the Bank of England analysed above. The premiums expended on the purchase of gold and silver during the first month of the half-year are, however, moderate, being only 5,0001. In the last half-year they amounted to 84,6431. ; at the rate of 5,000/. per mensem they will amount daring the current halflear to 30,0001. only. It is, however, too soon to anticipate the figures. The present account debits the Bank with the new capital of 91,250,000 francs and the new reserve of 9,125,000 francs, ander the renewed charter ; and, on the other hand, credit is taken for a reduction of 5,000,000 francs in the amount advanced to the State. The Money Market has increased in ease, and the supplies have become so ample that large sums cannot be lent on call with any certainty of obtaining more than three per cent. The payment of the dividends and a falling off in the demand during the last few days are the main causes of this change in the market, stimulated, of course, by the previous knowledge that the position of the Bank had considerably improved. Under these circum stances the discount houses and joint-stock banks have been taking bills, ordinarily, at 54 per cent., and as the Bank from motives of expediency, which we believe to be wholly political, arising out of apprehensions as to the nature of the next intelligence from India, has main tained its rate at six per cent., they have led the market. The Bank consequently has not been doing much ; but if the present improvement lasts for a few days longer, and the Indian news is of a tranquillising character, a reduction will certainly be made next Thurs day to 54 per cent. Trade is not at present manifesting any great disposition to take advantage of the existing ten dencies of the market. This is owing to an opinion in some quarters that money ought to be more than d per cent. cheaper, but much more to the caution with which the more important branches of our export commerce is now being conducted. The trade with Australia has been overdone and is unreinnnerative, and that, with some other of our dependencies, is not very encouraging : merchants and shippers, therefore, are operating with great caution and showing little or no speculative disposition. This accounts for the quiet character of the commercial demand at the present time, but any moment may see a change in this respect, and one would certainly have occurred at this period if the India and China difficulties had not broken oat. The specie imports during the week have amounted to about 300,0001., the greater portion of which has come from the United States. The exports have not exceeded 150,0001., including the imports on French account. The Bank during the week has purchased about 280,0001. of gold out of the recent arrivals, and there is now but little in the market. Silver has declined Id. since the arrival of the last West India steamer. The Exchanges are steady, at little variation from the rates of this day week. Great dulness has prevailed in Consols all the week, the settlement of the ace3nnt, and the Indian mutiny, with its possible consequences, having deterred all parties from contracting engagements; while the payment of the divi dends now in progress has, so far, had no effect in the way of recovery. They have been at one price for money all the week, namely, 921 to 1, and they closed at this yester day. For the new account, on the 6th of August, the last transactions were at W2I. To-day they opened at 94 to;, and alter touching 93 left off at 921 to j. Exchequer Bills have improved. They are now quoted at 3s. die. to par. In Foreign Securities the most noticeable feature in the business of the week has been a rise in Peruvian stock, which, however, has not maintained the highest price, a fall of about 21. having occurred to-day. Other descrip tions much the same as last week. Railway Shares have, on the whole, been fairly sup ported, showing a tendency to improvement, interrupted, however, by the feelings as to India. Yesterday the market was dull. To.day it was steady, and closed moderately firm. Joint-stook Bank, Mining, and Miscellaneous Shares have been exceedingly quiet. The basis on which the amalgamation of the Royal Mail Company and the European and Australian Royal Mail Company is to be carried out has been published. The capital of the two companies is fixed at 2,000,0001. Half of this is to be represented by 13,000 Royal Mail shares, at 661. 13a. 4d. each, fully paid up ; and the remaining half by 9,000 European and Australian shares, at 861. 13s. 41., amounting to 600,0001., and unissued stock for 400.0001. On the European and Australian shares 200,0001. has yet to be paid, and it will be called for by four instalmen's ; but these shares will not receive any dividend for a year, reckoning from the Ist July, 1875. The conditions are subject to the approval of the sharaholders of the two companies, and also to a proviso for an extension of two years of their existing contracts being obtained from the Government. The amount paid into the Treasury of the East India Company for bills on India from the 25th June to the 7th July, has been only 35,4751. The reduction of one per cent. in the rate has therefore had no appreciable effect ; and it is not improbable that another may be made before long. From a notice given in the House of Commons on Wednesday by the Chancellor of the Exchequer, it appears that the Government intend to bring in a bill for continuing the present duties upon tea and sugar, as fixed by the act of last session, for two years from the let of April last. The contest between the directors of the Great Northern Railway and the preference shareholders with respect to the losses by the Redpath frauds is increasing in public interest, and a strong effort will be made to defeat the measure in the House of Lords. The proposition of the directors was carried at a meeting of the company on Wednesday by means of proxies, but the show of hands was against it. Serious differences have arisen between Mr. Rymer, the late solicitor to the Western Bank of London, and the board of directors. Mr. Rymer has published a letter containing a number of allegations affecting various points of management ; and the directors on their part intend to call a meeting to refute them. The bankruptcy of Mr. J. C. Mare, the shipbuilder, is about to be superseded, the creditors having agreed to accept 2s. 6d. in the pound in addition to the Is. 6d. already announced. The capital of the General Iron Screw Collier Company is to be reduced bi. per share, or from 123,0001. to 100,0001. William John Lawson and William Cockburn have been found guilty, by a special jury, of conspiring to damage the credit of the Bank of London by the publics. tion of a series of libels in the Joint Stock Campania Journal, and sentenced respectively to one year's imprison ment. The punishment is considered extremely severe; but it is one that has given satisfaction. The Trade Rapala of the week read favourably; but there is no great activity. The short•time movement in the manufacturing districts appears to be somewhat relaxing. BRITISH FUNDS.— Closing Mae OFFICIAL QUOTATI Mond., Tied 3 per Cent.Consols Ditto for Account per Cents Reduced 3 per Cents Long Annuities Bonk Stock 7 per Cent 1 914 914 New 9s per Cent Annult — Bills, 2jd. .. (June)! 3d p p 3c I Indisßonds,(l,oool.) I — Wsd. 77tur s . Fridag 1 9,4 92; i 192; 92; 221 #122; I!1 92 92; 199; 92; i :2 7.16 214 214 212; ad Sd p, M 4 104 id FOREIGN FUNDS. Per Cent., /loud. Mead. Wed. Mars. Friday. Brazilian 5 981 101 101 Danish S 102 1 I Dtch. (Ka 12 Gal f e ' a aff — T French Do. 4ejf •tefehfs; f a Do. Bank Stock —l.—f. CI i f. Mexican 3 22t 22/ ' 21 t Peruvian 4l 84 831 21 831 21 , 921 sl Portuguese 4 — xdi Russian 41 98/ 981 98 vii 90i Spanish 3 401 xd 40 ad I . Turkish Acc.6 9611 9$ j 553 E PRESS, JULY 11, 1857. trigger an instant too woo. From two pieces of the fragments of the whole length and breadth, it was found that the machine had been a strong wooden tank, rendered waterproof, and capable of containing more than 2,000 lbs. of powder. DANE OP ENGLAND. Au Aecount, pursuant to the Aot 7th and Bth Victoria, *sp. 111 for the week ending on Saturday, the nth day of July, 1887. DIBPARTMENT. Rotas Issued •••• 8 37 # 8# Oi 57# a 56 58 WARNS 426,241,280 Cvorernment Debt 411,016,100 Other Securities .. 3.401,800 Gold Colo 1 Bul/Sen 10,88800 Silver Bullies .... --•— —.....-..-.... 225,341,280 126,841.780 Reit - 6,410.k1 Public Depoette• 7,863,650 Other Deposits 9,658,616 Seven Day .k other Bills . 673,610 • Including Exchequer, Co Savings' Banks, and Dividend Antw. & attrdm.l Belgian East. J. Dutch ithetashi K.„4. fl I t 3 3d 10.3 8 - 617 I; 1 $ d I Fast Indian Gt. Indian Pen G.W.ofCan.,Sh Lyons & Genova, Madras Namur& Liege Norw. Truk. Pif. Paris: Lyons.. Paris a Orleans Paris a Rouen.. 21 21k LUG 8 11 I 21f A re se 19 20 8; 58i 1 56 58 Governmest Bow Titles (itteledla Dead Weighthh.) aItrAOSS Other heattrittee lO./116.1101 Not. .'4 Gobi 4 Silver O ell) MAN of Natiosek D.W Wake& ilistwa i rrilke. 6,1 f 1 1$ • li i I j G 6 V is lii6 1 . 1 1 $ 21 $, 91 ill 211 $ $ 22f I 1 Fll t ta 1$ t 24 V 1101 * 7 3 1 tif g 1 6! 1 74 Oi ;gi t9 l I Si 91 .4 1 11 17 l I . 311 6g 7 66 US K NI 66 $ —.. Pati.m4l4 Mond., Treed. Wad. i Timr.' AIL Aberdeen Birm.Wolv.&6ltourYal Bl 8 , B g.-. 9 184 . 9 1 81 9 8 1 mid 1 Bristol d Exeter ... 91 23 91 33 . i9l 93 21 3 91 ft Caledonian Chester and Holyhead 36 37 34 3716 37 36 37 36 7 Cork and Bandon Cublin 4 Belfast Juno. —di d d d 90 21130 4120 21104 201 4 East Anglian Eastern Union(B) East Lineashire Eastern Counties ,11 111 6 Great Northern Gt. Bth. and Wst of Ire. l 0 1 1064 1014 1064 a Great Western Lancashire&Yorkshire 1004 . 4;1001 1 2001 I 100114 1 Lon.,Tilbury,di S. Brkl. —PI 9 — s r Lon.,Brighton,to ll3 4112 112 1 112 London and Blaekwal 61 i if el Ei 1 4 . Londoaand Nrth•West. 1034 1034 184 1431 4 1 • Midland Newmarket Newry and Mini ..... Norfolk Nrthrn.CountiesUition 31 0131 31 44 id 31 North British North Staffordshire— • 4 4,4 1 *l 4 4 t 0 Nortb•Western 71174874 8 11 I d Ott , Wrestr., and Wolv. 34 633 .24 634 6 Scottish Central lO4 6 104 2104 s 104 104 4 8 60 t4: 4 h Midland South Devon South•EasternandDov 741 4:744 74 74i i 741 4 1 South• Western South Wales 49 20 ft 90 49 930' 89 91 89 91 Waterford & Limerick —I -. MISCILLANCOO/1 Australian Agricultural 19i.?04.1900i 14204 194204 19i 101 Canada Crystal Palace ll i 1 1 i l l 1 1 1 i 1 / I Crystal Palace ofFrance NorthßritishAus.Land 4 1,1 4 1 1 1 1 14 Peel River Land &Min. li 2 $ 11i 21 I; s 4 l 2i 1 Scottish Aust. Invest. 14 11iii 1i li 1 l i 1 1 South Australian Lase 33 i 33 38 6,33 1 4 6 Van Diemen's Land Ptroplitan Varkds. " Tin Paz NV) CORN EXCHANGR—Tise present week's arrivals of boar grown wheat. both bon the nem and distort essislitedinve been very moderate: MOVlllrailkelk 4111111111111 11111 tp WAS baa ruled hoary. and rises have hod a downwind terlsery. tilt fall being Isis Is per daaetst. Feesiga wheels hove serommlg slowly, at barely eitointiona. The sigghes in i market have eonsinned INC auk*. "Mg ll= have not increased. In magons grins win has been and passing. There has aMa Armed for boat English foreign baring, at trillisse t god malt Las been in Migroved reps& Th, tomb gme bon salad healthy, so extreme eurrensies. Fran Ir the ergglen w still vet. moderate. Both beans sad peas re emnatinded niter morn money; but SOW MI Odd on Mier illralL trouse--11%sst, t sz sa4 Zest rod, ids to dist white 63s to 735; lisefolk sod Lisoola Pled. Ns to OW 1011/e. Woke 36e to 465; pesdlit. ditto, tes to Ns : f, s lb MK Malt, Ns to 70s. Feed oats, 10s to ells; filed, dal lib S. Rye, 324 to Welsh beans, 34s to Ns; Ilsoissr. Us to Ills • pigeon, 40s to Grey peso, Sils ; IMO% des to Us white boilers, to 44s per quarter. Towu-ssisk lour, Ws to 34e; country sharks, 43s to 475; itossoirsids, es to es per YOOths. AJRZYALS THIS WIT'S. Who'd. Barley. Malt. Oats. Flour. english 1910 .. 90 .. 1440 .. 30 .. life Irish Foreign .. 7110 .. 4930 .. .. 0200 .. 11/70 NW 4001 k. LONDON AVERAGES DECLARED ON PRIDAT—‘I4I4 2,484 quarters, es 7d ; barley, IS Martyrs Ns 14Id; *Me. US quarts's, 25e 10d; rye, quartairs, —; beau, lii questees, 42s 34; peas. 7 quarters, 38a. IMPERI&L WEEKLY AVERAOES—Wbeak Ns 44; bar ley, 39.; oats, 27s 3d; rye, 41s 114; beaus, 45s 114; peas, 44s id. THE SIX WEEKS' AVERAGES—Wbeat, Ws 3d: barley 39s 8d; oats, 265 7d ; rye, 40s 7d; beano. 41a 104; 42s sd.