The Press. — London, England, 1858-08-14 00:00:00

790 desire of naval power in the Baltic with which it is complicated, deserve to attract some attention in England, where, of late, the question between Den mark and Germany appears to have been totally lost sight of and forgotten. Voutg Varktt anti Citg 3attiligante FRIDAY EVENING. THE return of the Bank of England for the week ending Wednesday last, the 11th inst., shows the following changes compared with that for the week preceding : Decrease in Circulation Increase in Public Depositsi.. Decrease in Other Deposits Increase in Public Securities 96,887 Decrease in Other Securities Decrease in Bullion . . Increase in Rest .. Increase in Reserve Bullion in both Depart merts Circulation, including Bank Post Bills The diminution in the stock of Bullion was not expected at the time we last wrote, nor had it then taken place. It has been brought about by the operations connected with the late demand for gold from the Continent being fol lowed by a considerably increased circulation of coin in those districts of the country where harvest labour is now in active employment. The falling off, therefore, is merely incidental, and of no importance whatever. There is again a decrease in the Private Securities. The aggre gate of the discounts and advances made by the Bank is about half a million less than those made by the Bank of France. This fact simply indicates that the Bank is doing less discount business than the Lombard-street houses, and that the traders who are raising capital upon bills go to the cheapest market for the accommodation. From the gross amount of the Public Deposits at this period of the quarter, it is clear that the public revenue is in a satis factory state ; and we know, from the duty-paying articles gone and going into consumption, that as the quarter advances the revenue is likely to become still more satisfactory. The Bank hes been adding to its stock of Public Securites. The general effect of the changes made in the various items of Public and Private Deposits and Public and Private Securities has been a moderate addition to the Reserve. The position of the Bank, therefore, is strengthened, and in the event of any very active demand for money it is amply provided to meet it. The monthly return of the Bank of France, made up to yesterday the 12th inst., was published in the Moniteur of this morning. It shows another extraordinary augmen tation in the stock of Bullion. During the month no less than 1,342,005/. have been added to the stock, which now reaches the enormous aggregate of 22,480,3441. The circulation is 25,485,8031., having been increased 148,0921., and the distinction between that of the principal bank and its provincial branches is no longer observed in the official return. The Discounts are 18,138,1381., being an increase of 397,932/., a very moderate sum considering the extent to which trade is reviving. On the other hand the Bank has enlarged its advances on Stock, Shares, and Bullion by 125,305/. The private deposits, however, have withdrawn 604, 8881. from present use in the market; and the Treasu, deposits are 708,0371. trore than last month. On the whole, the present return indicates an improving state of things in France ; and with such an enormous amount of bullion in its coffers, it would not surprise us to hear, at an early period, of the Bank reducing its rate of discount below three and a half per cent., at which it now stands. _ - _ _ Capital continues to be in most abundant supply, and it is seeking investment particularly for extended periods upon very reasonable terms. But there is a difficnity in finding etriloyment for it even at the low rates now current. A very appreciable return of confidence in mercantile circles, and very sanguine hopes inspired by the prospect, or we may now say the certainty, of an abnndant harvest, and a total disappearance of political doubts and anxieties, has imparted during the greater part of the week more animation to the commercial demand. Much of this revived inquiry has proceeded from manufacturers an producers whose principal con nections are with Australia and the United States; and we hear of considerable activity in articles likely to be required in the new fields of enterprize at Frazer's River. At the same time goods are being largely shipped to India; and preparations are making for an enlarged trade with China, in anticipation of an early mail bringing intelligenee of a diplomatic extension of our commercial relations with that extraordinary country. These circuit)• stances indicate the quarters whence have proceeded the primary symptoms of capital being soon required to give faeilities to commerce. We c.n therefore only repeat the conviction expressed some time ago—that though money is cheap now, it is most improbable it can be cheaper, Present rates for the beat paper average about two and a half per cent. These terms are sufficient to attract the mass of discounts to Lombard-street ; but the applications at the Bank have been more numerous in the present than in the past week. The specie movements of the week have been unim portant. Although the rate of exchange at New York is firm-at 109 i to 110, the anticipation of large shipments thence has not yet been realized, three vessels that have arrived since our last having brought only 140,0001. The aggregate arrivals do not amount to 150,0001. On the other hand, 17,0001. have been sent into the Bank, and about 73,0001. has been exported. The continental de mand is not yet entirely met; but it is very quiet. More than 1,120,0001. is en route from Australia, a conside ra bl e proportion of which is just due; and in the course of next THE PRESS, AUGUST 14, 185(9. week a large amount will come in from Smith America and the West Indies. I3ar-silver has declined ad., and Mexican dollars 1,1. per ounce. This is attributed to the magnitude of the stuck here, and to the total cessation of the demand from China. There seems now some ground for the apprehension that the price will return to the average of 1850. English Securities of nearly all descriptions have been firm since our last ; and the markets up to yesterday were animated by a good tone, though business was as inanimate as possible. The favourable tendency was promoted by investments on public account, and by a con siderable advance upon the Paris Bourse. It was not, how. ever, uniform, for yesterday, and again to-day, there was a reaction, which leaves quotations about as they were this day week. Speculative sales to realize the profits upon speculative purchases were the cause. Railway Stocks have been in favour all the week, and in some instances the firmness of holders has induced a marked rise in prices. Holders now are tenacious from a conviction that though dividends aro generally lower this half-year, there are all the essential elements in the market of sub stantial improvement in their property. Among others, there is the certainty that working expenses are being permanently reduced, while the improvement in trade is enlarging the receipts from goods traffic—a circumstance that invariably brings with it an amendment in the more profitable item of passenger receipts. Other securities have been firm, without much change in prices. Consols, which left off last Friday at 961 to 1, for account, improved to 961 to 1, and at one time they stood temporarily at 96g. But the reaction of yesterday drove them down to 961 to 1. To-day they opened at 061 to 1, and closed at 961 to 1 dull. The public investments, which have been on account of the savings•banks, and to the event of about 40,0001., have been in Reduced and in the New Threes. . . . . . Foreign Stocks have not materially varied, but such as have changed are lower. Among them are Brazilian Scrip and Turkish Six per Cents., both of which declined to-day. Railway Shares are, upon an average, from one-half to one per cent. higher than they were this day week. The lines that have most improved are Caledonians, Midlands, Lancashire and Ylrkshires, and North-Easterns. Great Northerns are lower, owing to reports of competition in certain quarters. On the other hand, the cause of the im provement in Midlands has been certain reports of its prac tical immunity from competition. Great Westerns have not altered much. Indian Stocks steady. Banking, Mining, and Miscellaneous Shares were to day much as they were this day week, and during the in terval nothing deserving of notice has occurred in any of them. Exchequer Bills remained, up to yesterday, at 325. to 3,55. prem. for the March issue, and 21s. to 255. prem. for that of June; but today all descriptions were Is. lower. The Continental Exchanges are generally favourable for this country. The Atlantic Telegraph is going on well. In a few days it will be in complete working order, and the communica tion with America perfect. The shares have been done at 950. The selection of seven members of the Court of Direc tors of the East India Company for the new Indian Council took place in Leadenhall-street on Monday. The gentlemen appointed were, Mr. Charles Mills, the senior director, Captain Shepherd, Mr. Elliot Macneghten, Sir J. W. Hogg, Mr. R. P. Mangles, Mr. IV. J. Eastwick, and Mr. H. T. Prinsep. The Government have now to appoint eight members to make up the Council of fifteen. The Council must be constituted by the Ist of September, when the East India Company will cease to exist except in a brilliant and enduring history. The Government have already appointed that distinguished and most eminent man, Sir John Lawrence, who is coming home, and it is stated that Sir Henry Rawlinson and Mr. J. P. Willoughby have also been requested to join the Council. The shareholders in the Eastern Steam Navigation Company have authorized the directors to treat tor the lease or sale of the Great Eastern. The shares in the Red Sea Telegraph Company were allotted yesterday. They are at a premium of to I. A second dividend of .2s. in the pound has been paid under the estate of Messrs. Sieveking and Son. The 'Westminster Palace Hotel will be proceeded with, more than 7,000 shares having been subscribed. Great advantages are expected to arise from the contiguity of the Victoria Railway Station. A memorial to the Colonial•office on the necessity for an Australian mail by the Panama route is in course of signature among the leading houses interested in New South Wales, Moreton Bay, and .New Zealand. It urges the necessity of a fortnightly communication, and suggests that this route is more than ever desirable, considering the importance of the goldfields of British Columbia, and by the fact of the completion of telegraphic communica- tion with America. By this latter means intelligence might, if this route were opened, pass between England and Australia in thirty days. Few Insurance associations ate conducted with more prudence, and have been rewarded with greater success, than the Royal Insurance Company of Liverpool. A very slight reference to the facto stated in the report which appears in another column will confirm this statement. The figures speak for themselves. We can only add that a careful investigation of the documents satisfied us that the company is in a sound as well as in a pro sperous condition, for the two phrases are not convertible ; and that both in the fire and in the life branch it affords every possible advantage and security to all who contem plate availing themselves of the advantages of insurance. The Trade reports of the week continue of a very satis- factory character. The only exception of consequence is still in the iron and hardware occupations of Birmingham, Wolverhampton, and Sheffield. But even in them there are good hopes of revival, inasmuch as a reduction of 10s. per ton in iron will probably attract considerable order i more or less, consumers of from the United Slates, while th ere are ressonsble expectations of an improvement i n t h e Home trade so o scr i n he as pe r o l i u le r . n a in ll g or pr w o h s o p m eri a ty re begina to tell upon the mass , Birmingham and Sheffield manufactures. ID textiles there is much activity. Both Lancashire and Yorkshire are almost fully employed, and the demand for their productions is increasing. Already it is sufficient to prevent the accumulation of stocks. The same may be said of the linen fabrics of Ireland. On the whole it may confidently be stated that things are looking bright ; and that, after all, the late collapse will be followed by m uc h more substantial prosperity than that by which it wa preceded. FROM THE LONDON GAZETTE. Tuesdny, August 10. BANKRUPTS--EDWIN BENJAMIN CoLLINs, Hereford•place Queen's-road, New Peckham, market gardener—MAßlA ELIZA. BETH CARTWRIGHT, Sherburne, Norfolk, hop merchant—Taos. HODGSON, Aldine Chambers, Paternoster row, book•eller,— ROBERT A. FARMAR, Mount-street, Lambeth, chemist mid druggist—THOMAS MACHIN, Peterborough, contractor—Mix and •JOHN T. GODFREY, 'lair-moon-street, Bishopagate, coopers —JOHN HARRISON and JOHN GARFORD BRIGGS, SUPtlehifUl, oil brokers—EDWAßD LEE, Shrewsbury, ironmonger—WlLLum and JOHN Gal &TORRE, Leicester, boot and shoe manufacturers —JAMES WlLsom, Birkenhead, engineer —WILLIAM R. BODGES, Manchester, merchant. Friday, August 13. BANKRUPTCY ANN ULLED.—HENIVI TATHAM, Charing. cross, gunmaker. BAN K RUPTS.—CwanLta I AMIN, Northampton, builder— CHRISTOPHER DENMAN, Ripley, Derbyshire, linen draper-- SAMUET FISHER, Birmingham, tailor—DAVlD 1 - 11:010:8, Oresham•street, City, scrivener --JosEpu bb: TER, little Horton, Bradford, grocer—WILLIAM NAMH, Newport, commis. sion agent—Tunmas WELDON, Peterborough, grocer—JASas SAUNDERS and WILLIAM SAUNDERS, Abergaveuny, kounkoutlr shire, Beadsman—Emu. FRANCE, Dudley-hill, Bradford, worsted manufacturer. DINNEFORD'S PURE FLUID MAGNESIA has been for many years sanctioned by the most eminent of the Medical Profession as an excellent remedy for Acidity, Heartburn, Headache, Gout, and Indigestion. As a mill ape rient it is admirably adapted for delicate females, particularly during pregnancy ; and it prevents the food of infants from turning sour during digestion. Combined with the ACHX. LATED LEMON SYRUP, it forms an Effervescing Aperient Draught, which is highly agreeable and efficacious.—Prepared by Dinneford and Co., Dispensing Chemists (and General Agents for the Improved Horsehair Gloves and Belts), In, New Bond-street, London; and sold by all respectable Chemists throughout the Empire. FURNISH YOUR HOUSE WITH THE BEST ARTICLES DEANE' S ) ESTABLISHED A.D. 1700. TRON BEDSTEADS. I DZANE and Co. manufacture and supply every description of iron and brass bedsteads, and have at all times a large stock if these crticles on hand, together with beds, mattresses, pal. liaises, &c. Fail particulars of sizes and prices, with Wawa• tious, sent by post, free. HORTICULTURAL () an d MECHANICAL 11 TOLS. In this Department will be found every implement requisite for the practical or scientific horticulturist. including all modern and improved inventions. Illustrated Priced Lists on applies• don, post free. IMPROVED LAWN MOWING MAC HIN ES.—This machine is most easy of management, ra removes all the cut grass, and leaves no seam on the lawn. • ..,.................... .............PRICER: g 8 . J. Machine, 16 inches wide 3 10 I. Machine, 19 inches wide 5 17 C Machine, V. inches wide 6 0 0 Machine. 25 in. wide, fitted to be drawn by a pony 2 0 0 Mechanical Tools of every description. Also Tool Chests fitted complete with Tools of warranted quality. and varying in price from Os. to la They are well adapted for the amateur, the practical mechanic, or the emigrant. VCONOMIC COOKING STOVES,RANGES , 11 ac.—Deartz and Co. recommend with confidence their im• proved cooking stove. It is cheap in first cost, simple in con• struction, easy of management, capable of doing a large amount of work with a comparatively small consumption of fuel, and is manufactured in sizes suitable for large or small families. In operation daily in the stove and fender department ;e imp r where D also be seen the improved Self.acting Range and the Cottage Range, each with oven and boiler. Prices of the Range ;-4 feet wide, 131. lOs ; 4 feet 31n., 15 1 .; 4 fset 161. 10s. ; 4 feet Mu., 181.; 5 feet, 1 91 . 10 s.; I feetliu., 211.; 3 feet Gin., 221. Ida. ; 5 feet 9iu., 241. ; G feet, 251. oved AFURNISHING LI ST. For the convenience of persons Furnishing, DIANE !Ind Co. have arranged a complete Priced List of Articles regulate in fitting up a Family Residence. embracing all the venom; dip partinents of their I.stabliehment, and calculated greatly.to facilitate purchasers in the selection of their goods. This List DEANS and Co. will forward to any Address, post free. Furnishing Warehouses, 46, King Wi lliam str eet, London -bridge. Saddlery and Harness Manufactory, I and 3, Arthur trt London • bridge. Gas Fitting Establishment, So. 1, Arthur-street East, London bridge Export Warehouses, Arthur-street West, London.bridge. OPENING TO THE MONIMENT, LONDON BRIDGE.