The Press. — London, England, 1857-01-03 00:00:00

MN., 20 was surrounded by a velvet, which was taken up each side of the front, forming epaulettes over the sleeves. The body was low, cut siusre, and trimmed round the top with velvet. The headdress was formed by a Wrestle of red coral, with several light branches hanging on one side only. The hair was rolled. In the style of bonnets for the present month, the artistes are making skilful use of the fashionable materials for this winter. A white terryvelvet bonnet, very small, thrown back at the cheeks; and the clown rather round and falling. The curtain, or rather three curtains, made, the top one of terry, the second of cerise velvet, and the third of pointed blonde. The middle curtain is made much narrower than the others. On each side of the curtain is placed a lung feather, white, tipped with cerise. These are carried to the top of the bonnet, where they pints each other, falling over the crown. At the front edge is place►' a fine pointed blonde, two and a half inches wide, which falls back over the bonnet. The inside is trimmed with bunches of cerise, velvet flowers and blonde. Another very elegant bonnet may be made of pink terry velvet. From the front edge, on each side, are three deep plaits of the same material, falling towards the crown. On each of these is placed a charming trimming, termed of green velvet leaves, so light as to have quite the appear ance of application. Thee plaits are fixed at the back of the crown, and form the curtain, which is trimmed in the same manner. A. light blonde is mixed with the velvet leaves, but not so as to hide this graceful trimming. Green velvet leaves and blonde are the ornaments inside the bonnet. A charming bonnet for a young lady was of black velvet, with double curtain—the one velvet, the other Louise blue terry velvet; on each aide of the front were bouquets of flowers, half blue and half black ; the inside of trite hamlet trimmed with the same flowers and blonde. The Marie Antoinette bonnet is as much in favour as it was in the beginning of the season, and we cannot imagine any coiffure more becoming to a really pretty woman. The most elegant mantles for visiting are those made of blue, ruby, or violet velvet, embroidered in white silk and fined with white plush, trimmed with a wide medallion fringe. Nothing can be more distingue and elegant than this embroidery, winch resembles rivers of pearls on the rich shades of ruby, purple, sapphire, blue, or emerald green. The same style of embroidery may be used with great effect on the flounces of moire dresses. goat anb Vilitarg fltclligcatt. THE Resolute was finally handed over on Tuesday to the naval authorities at Portsmouth. The colours, bide by side with those of this lung in the morning from the peak of the ;hip. At a quarter to one o'clock Captain flag captain to the commander-in-chief, board the Resolute to receive her on the the nation. Mr. Penn, the Master of the Mr. Burdwood, Second Master of the party of seamen and a corporal's guard of iarines from the same ship, also went on Captain Hartstein now ordered his crew to their proper positions, the starboard watch . and the port watch aft. Captain Seymour, 'pending a few minutes with Captain Hartstein latter's cabin, returned on deck, and as the . clock struck one, the flag-ship Victory the United States stars and stripes at her id fired a salute to that flag of twenty-one Whilst the salute was being fired Captain • ordered the American colours to be hauled board the Resolute, and the Union Jack dusted alone, whilst at her main the pennant British naval officer was hoisted. The salute -oded, and the change of colours effected, the . the Resolute manned the rigging, and gave hearty cheers, as a return for the salute. Hartstein, surrounded by the Chevalier tario, United States Vice-Consul at this port, merican officers, then addressing Captain said:-- - - closing scene of my most pleasant and im , roiNsion has now to be performed. And permit hope that long after every timber in her sturdy ',all have perished, the remenedrance of the old will be cherished by the people of the respective I now, with a pride totally at variance with our prof , .asional ideas, strike my flag, and to you, sir, give up this Seymour replied : sure, sir, that this graceful act on the part of the States towards this country, and the graceful in which it has been performed by yourself, sir, other officers of the ship, will ever live in the of the people of England. concluded the ceremony of the delivery of the to this country. The crew of the Resolute her, and went on board the Sprightly, Cap .artstein and the other officers following, after • a cordial farewell to Captain Seymour, the critish officers left on board the Resolute, and civilians present. Prior to this, however, a of champagne had been drunk, amid much tisiasm, to Captain Hartstein and the other and crew of the Resolute. On Wednesday Hartstein and his officers and crew returned York in the mail steamship Washinekm. ;THE PRESS• pm Market 10 (tit g Ilnitilignict. FRIDAY EVENING. THE return of the Bank of England for the week ending the 27th ult. shows the following changes compared with that for the week preceding : Increase in Circulation Increase in Public Deposits Increase in Other Deposits Increase in Government Securities 330,317 Increase in Other Securities Decrease in Bullion 283,512 Increase in Rest Decrease in Reserve Bullion 426,547 iu Both Departments Circulation, including Bank Post 19,427,714 Bills The most prominent features in this comparison are the decrease in the Bullion awl the falling off in the Reserve, which, as far as the notes only are concerned, amounts to 407,5751. For the decline in the bullion two causes are assigned—one the transmission of coin to Ireland to meet the run upon tt.e banks (which will explain the addition to the Government Securities) ; and the other the with drawals for the Continent to pay fur the silver bought there. The notes have been teduced by the heavy com mercial demand which prevailed the whole of last week, the extent of which is partially represented by the enor mous addition to the private securities. The additions to the public and private deposits enabled the Bank to give this vast amount of accommodation to trade without resorting to the sale of securities ; while, notwithstanding the diminution in the gold and notes, the bullion is still above ten and a quarter millions, and the notes only a fraction below five and a half millions. The position of the Bank, therefore, is one of strength. The Governme nt account is very good. There have been only four occa sions during the last twelve months, and they occurred just previously to the payment of the October dividends, when the public deposits have stood higher than they do now. The approaching dividends, therefore, will be easily met next week. Taken as a whole the present return is less unfavourable than might have been expected considering the state of the demand for money last week; and, on the whole, it confirms the opinion that we are emerging from the late season of trial and pressure. An exceedingly heavy demand fur money has prevailed all the week ; and there are no signs of its abatement for the next day or two. This has been in part owing to the universal balancing of last year's transactions, which has compelled all parties, including bankers, to maintain their reserves at the highest point, and in part to preparations to meet the commercial acceptances due to-morrow. Be sides, the Stock Exchange has, to a considerable degree, added to the demand by reason of the Railway and Foreign settlements, which have been effected during the week ; while the market is still affected from this quarter owing to the Consol settlement next week —a settlement likely to prove rather heavy. Then, again, there has been a good deal of pressure for money from the country, in cluding Ireland. So that with a demand so general, it will not excite astonishment if we add that the rates for the most part have been extremely stringent, and that Lombard-street has done only the very best paper under the Bank minimum. All other descriptions have had to pay six per cent. and more. It is, however, thoroughly well understood that the pressure has been produced, to a great extent, by incidental and temporary causes; and the ex pectation of improvement, so early as next week, has miti gated the dissatisfaction that might otherwise have been expressed. The demand has been renewed to-day. As to the future, the events of the current week have given us no reason to change or modify the view we took in our last that money can scarcely be expected to be worth less than five per cent. during tire present year. Our own extending commerce, the prospect of profitable investments in conti tinental, Indian, and colonial railway schemes, and the in troduction of new undertakings at home, doubtful or other wise, will afford ample employment for capital. There will, indeed, be an active competition for it. Conse quently, though there are grounds for anticipating that the six-per-cent. rate cannot be long maintained, the competi tion will create a constant demand, and capitalists will take advantage of that demand to require the best rates the market will afford. Cheap money, under the existing cir cumstances of commerce and enterprise, is quite out of the question. The rates upon the Continent are un altered, except at Hamburg, where they have advanced a fraction. The Revenue Returns for the quarter and the year end ing December 31st were published yesterday; and, as fur they enable us to estimate the national resources, they are very favourable. The receipts have increased more than 850,0001. upon the quarter and nearly 4,000,0001. upon the year Along with this state of things we know from the Bank return above that the public balances are ample to meet the January dividends due next week. In fact, the Chancellor of the Exchequer is in a favourable position with regard to the income of the country. His position, however, is scarcely an enviable one when we bear in mind the pressure to which he is about to be exposed for reductions and modifications in the productive sources of income ; and we must add that he will feel the weight of City influence in these directions. The tables of the Board of Trade, giving the state of our exports and im ports for eleven months of the year, have also been issued this week. We learn from them that the value of our ex ports during that period was more than 105,000,0001., and that fur the whole year they will exceed 115,000,0001., the greatest development of production that this country has ever seen. The import and shipping branches of these tables are also satisfactory ; but as to shipping there is one little fact that looks rather ugly. It is that in the clearances for foreign ports the ratio of the increase of American shipping is about fifteen per cent. greater than SATURDAY, that of British shipping. We are beginning to feel from what quarter the pinch of competition will be most felt by our shipping interests ; but we have no tear as to the ulti mate result. We cannot stop the extension of American navigation ; but we can meet our rivals everywhere, and obtain the g •eatest share of the profits wising from the carrying ir ,de of the world. From France the commercial advices state that the period has naturally been one of considerable dullness, owing to the season. We have heard but little during the week concerning the Bank, except that it has d, j dared a dividend at the rate of no less than twenty-six per cent. per annum. Last year it was only twenty per cent. Of course such a return cannot be otherwise than satisfactory ; and therefore it may have been noticed that for some time peat schemes have been proposed to engage in branches of the banking trade, as practised in France, which would interfere with these large profits. In the meantime the Bank is relax:ng its purchases of gold at a premium : but there is reason to believe, nevertheless, that its stock, according to the nest return, will reach about 9,000,0001. The Bourse this week has had to endure an extraordinarily active demand for money, owing to the two settlements in ltentes and railways ; and the rates have been extremely high. The new scheme of charging one franc each admission to the Bourse, or 150 francs per annum, has not proved very successful at present. It will, however, by-and•by. The specie arrivals daring the week have amounted to about 677,0001. of which 600,0001. has come from Aus tralia. About '300,000/. has been taken for France and the Continent, in payment for silver; and the flank has secured 150,0001. The rest is on hand. The demand for silver has not been checked by the affair at Canton. The packet leaving Southampton for India and China will take out about 400,0001. The West India steamer, which was due yesterday, is expected to bring an unusually large amount of silver from Mexico. If his anticipation is realised, it is probable that the Bank will obtain all the g old now on hand, as these supplies will be more than sufficient to meet the Eastern demand for silver by the succeeding mail. The exchanges are on the whole a shade better than last week; still the improvement is more nominal than real. Business in English Securities has continued to be in terfered with by the festivities of the season; but dealers and others are returning, and more activity may be ex pected, nest week • In Consols little has been doing; but investments have been made to some amount in Reduced and in the New Three per Cents., both of which have experienced a slight improvement. Consols have been steady, but with a firm tendency, until yesterday, when the news from China caused them to become weak, owing to the harsh nature of our proceedings at Canton, and the indefinite prospect of an early settlement of the dispute. The closing price last Friday was 041 to lex div. The highest quotation during the week has been 941 to Last night they left off at 9ik to 1 ; this morning they opened at 94 to 1, and closed at the same, looking weak. The demand for money has caused a further decline of ls. in Exchequer Bills. They have been quoted at 2s. die. to 2s. prem. ; but to day they were Is. dia. to 3s. prem. Railway Shares have generally manifested an advancing tendency, particularly after the arrangement of the ac count ; but yesterday somewhat of a reactionary tendency was visible, caused by the same circumstances that affected Consols. No actual decline of consequence was however established, except in the case of Great Westerns, which fell fully one and a half per cent. This result was unex pected at the opening of business, for considerable deal ings took place at 60 ; but before noon reports began to prevail that the dividend for the current half-year, instead of being at the rate of three and a half per cent. per annum , would be only three per cent. Great Noy therns have been steady, and a further improvement has taken place in East Lancashires, the reports of an amal gamation with the Lancashire and Yorkshire being still in circulation. French lines have been steady. The Cana -1 dian lines have improved—Westerns to the extent of one I half per cent. To-day Caledonions were lower; but Great Westerns, after a struggle, maintained their position at 6$ to 1, the price to which they fell yesterday. Turkish Stocks have rather advanced since this day week, but in other respects the Foreign Market has not presented any features worth notice, The same may be said of Joint-stock Bankilliscellane ous, and Mining Shares. As we anticipated last week, the committee of the Stosk Exchange have not confirmed their resolution to strike out of the official list the stock and shares of the Great Northern Railway and the companies dependent upon it. The correspondence upon the subject will probably be published. Two suspensions have been announced in the foreign grain trade. In one case the party had been in business only twelve months. The loss in both cases is expected to fall mainly on foreign places. The dividend of ss. 6d. in the pound to the creditors of the Royal British Bank who have proved their debts, will be paid to-morrow and on Monday, at the South Sea-house. The assignees have filed a petition in bankruptcy against Mr. Humphrey Brown, M.P. The prospectus of the Nude Railway Company has been issued, with a capital of 1,000,0001., in 201. shares. The entire length of the lines contemplated is 450 miles ; but a commencement will be made with only fifty miles, from projectla:-t d h l e n s w w i i a lilss e n o oo n t i ob p ve a e n rpn y r: f le o een ra guarantee, etahedavweith without which the Cawnpore to Lucknow. Application has been made to the notified their intention to raise a federal loan of 480,0001., in virtue of authority re cently granted, and which is to the extent of 1;2001x101. Of the 480,0001., the portion to be subscribed in Switzer land is 100,0 , 101., and the remainder abroad. The bonds are to be of 201., 401., and 200/., bearing five per cent. interest, to be issued at par, and to be redeemable in twenty years by a sinking fund with annual drawings. ..., j i A charming Lay with double curta terry velvet; on t flowers, half blue trimmed with the The Marie An was in the begins any coiffure more The most ele6 Of blue, ruby, or vie fined with white fringe. Nothing this embroidery, ir 6. 14 rich shades of ~.r* green. The ear great effect on tl If goat .., THE Resolt 'f . to the naval American col f country, hung stout old ship Seymour, flal • went on boat . , i part of the Victory, Mr 1 Victory, a pa a. Royal Marin board. Capt take up thei forward and li alter spendio in the latter'l dockyard cle hoisted the k main, and fi guns. Whit Hartstein or ; down on bo gt• then floated of a British .. being ended tt . crew of the three heart Captain Hi P a ppalardo, l and the Air Seymour, at Sir, the c portant nii.,l • fine to hope frame shall ? ;. R es olute will na tions. I • i professional this ship. 4 t 3 Captain St $. I am sure United Ste . • ' manlier in 1 and the of memory of , This concl . vessel to • then left 1 ~ tain Hart: .. bidding s , other Bril the few ci 4 ' bump sr e 'I ' enthusias i •., officers a !'• I , Captain iw 111