The Press. — London, England, 1857-04-25 00:00:00

416 Money Market. Yet neither of these circumstances, which in ordinary times would probably have arrested any immediate tendency to improvement, were able to prevent a very considerable degree of ease prevailing all week—dertainly until nearly the close of business yesterday. The supplies have been ample at all the bank. ing and discount houses, while the demand has been moderate, and rates, hitherto so firm, were up to Wednes day evening from one•eighth to a quarter below the Bank minimum upon the best bills. In the Stock Exchange the h u•rowers last week at six and a half per cent. were glad to become lenders at six, but they could not find takers from day to day, as has been the case lately, but only till the end of the railway account—that is, for nearly a fort night. Some of these gentlemen, therefore, are likely to be sufferers by the eagerness to increase their reserves which they manifested last week. Such has been the g •neral condition of the market. The falling off in the demand may not, however, ba wholly attributable to the n aural effects of reaction. Manufacturers in the country, feeling the effects of high prices in the cost of raw mate rials and of dear money at the same time, are reducing their production to a very appreciable extent, and the result is already felt in the diminishing number of bills sent up from the North; while the shipping trades have wit, been so active as usual during the last. fortnight. There has also been a decided suspension of new enter• prises. The falling off in the demand fur money in the present week is therefore, to some extent, easily accounted for ; but, as it has arisen exclusively from temporary causes, it may revive, perhaps suddenly, and become as intense as ever. These are the usual concomitants of an unsettled market. Indeed, some symptoms of a revival were ap parent yesterday. But, on the whole, the feeling and disposition is certainly improved; and there arc not wanting parties of experience and position who believe that unless some incident of an untoward character occurs, the Bank may at an early period remove its existing restrictions as to the discount of brokers' bills, and its temporary advances upon Government stock. The Rank certainly will not retain them unnecessarily, to the detri• nista of its own business. To-day the demand was much more active, and nothing was done under the Bank rate. ' The railway settlement next week, and the approach of the 4th, were assigned as the causes of the change. Gold to a small amount has been taken into the Bank; but the specie movements of the week have been uaim• portant, with the exception of the export to India and China by the packet of M anday. That export amounted to 739,7931., a very small amount of which was in gold. 8 - 30001. have been sent to Rio. A sum of 210,0001. is an nounced to-day from Australia, bat we have had no other arrivals of consequence. Rather more than 500,000/. are, however, still expected from Australia, the larger portion of which is due. Nothing has yet been heard of the Oneida, which had a small sum on bo ird. The measure adopted by the Bank of France has placed some limited orders to purchase gold for transmission to Paris in the hands of oae or two houses here, but they have not yet effected any transactions of importance privately nor withdrawn any amounts fiom the Bank. They appear to be waiting the Australian arrivals, most of which they may probably secure. These operations, so long as the stock in the Bank is not materially affected, will create but little ap prehension, as the money must, sooner or later, come back to this country. The American Exchanges have improved to 109, and it is likely in a week or two to become profitable to remit gold here. The Continental Exchanges, however, do not show any material variation. They are still wavering. English Securities have been as nearly as poss'ble sta tionary since our last. The Funds have been a point or two higher than this day week, but an improvement has not been established notwithstanding the better aspect of the Money Market. Railway Shares may be described in almost the same terms; if anything they are rather flatter. Foreign and Miscellaneous Stocks have been exceedingly dull. Consols, which left off last Friday at 931 exactly for the Sth May, hay: touched 03&, but the average quotation has been ol} to I. This was the closing price yesterday. Considerable money dealings have taken place, and they have supported the market. To-day they opened and closed at 931 to 1, after having been temporarily f lower. Exchequer Bills have taken a decided turn. From being at 10s. dis. to 3s. dis., and being almost unsaleable, they have improved to 3s. dis. to par, with rather a fair demand. This change was initiated by some large pur chases by the Bank broker on Monday and Tuesday, and they have been firm since. The market is now supported by the fact that on the Sth May 2,000,(X)01. of Mr. Glad stone's Exchequer Bonds will be paid off. Railway Shares have experienced but a dull business, and quotations have in some instances declined, but not to any material extent. The holders of nearly all English descriptions are firm. So that what with the high prise of money on the one hand, and the belief that stock is not at its natural value on the other, transactions have been upon the most limited scale. French shares have been affected by sales caused by the weaker position of the market in Paris, where there has been an extremely active demand for demand. Canadians have been firm, but they gave way a little to day. Foreign Securities of all descriptions have been neglected, and there has been senrcely any movement in prices. Mexicans are steady. Turkish a little lower. Business in Joint.stock Bank, Miscellaneous, and Mining Shares has been unimportant. Messrs. Baring, Brothers, and Co., issued the Russian railway prospectus on Saturday. Out of the 12,000,0001. to be raised in the first instance towards the entire aggre gate of 47,000,0001., this proposal invited English capitalists to subscribe to the extent of 2,000,0001. The first payment is to be 6/. per share, anu the period for applications is from the 28th April to the sth May. We believe that with the subscription of Messrs. Baring sheasselres and that of their friends the 2,000,0001. is TIC E PRESS. male up, or nearly so. But the scheme has been very coldly received by capitalists in general ; and though the shares have been voted in the Stuck Exchange at a nominal premium, most of the dealers there have refused to enter into any transactions in them previous to the regular issue. Since the prospectus was issued a plan is said to have been adopted by interested speculators to entrap subscribers by inducing respectable parties to act unsuspecting the part of decoys. It is thus described by the most influential organ of the Money Market : "A respectable stockbroker's firm having received an order from a Protestant clergyman at Brussels to invest 20,0001. in Russian railway shares, deemed it expedient to make inquiry, and found that their client, the clergyman, was not the principal in the transaction, but had k e tit the order in his own name to oblige a very rich and influential friend in that capital. Having mentioned the circum stance to a friend they ascertained that another order for the purchase of .20,00:1/. had been transmitted by a clergy man through a mercantile house. Their first impression was that it must have been the same individual in each case. On inquiry, however, they gathered that in this in- stance it was an English clergyman, although the resem blance was still perfect, since this gentleman, also, has since admitted that he was acting merely as an agent If it were necessary, fresh details could be furnished which would probably fix the responsibility of these attempts in a manner to leave no uncertainty as to their design or origin. One case is mentioned of a mercartile house writing from Dunkirk on behalf of a friend—whether a clergyman or otherwise is not stated—to know how he could invest '20,0001 —apparently the favourite sum—in those shares in London. The rejoinder was, that as he is a French purchaser his best course will be to apply for an allotment in Paris " Tlys circumstantial statement, added to the disfavour with which the scheme per se is regarded here, has corn. pletely destroyed all present chance of success in this market. What may next follow is therefore looked for with an amout►t of interest that has not for years been given to any other great financial operation. Mr. Stapleton, late Deputy-Governor of the Royal Bri• tish Bank, has been further examined before the Court of Bankruptcy. The hon. gentleman did not come out of the ordeal in a way calculated to raise his character as a business man int►usted with the heavy responsibility of attending to the interests of his fellow•sharehol,lers. The Scottish Australian Invesement Company have sanctioned the sale conditionally made to the Bon Accord Copper Company of their interest in the Ban Accord property in South Australia for 12,0001. in cash, and 8,000 shares of I/. each, 103. paid up. A committee of investigation hss been appointed by the proprietors in the North British Australian Company. The Grand Surrey Docks and Canal Company have de• dared a dividend of four per cent. 1,0001. was placed to the reserve fund, leaving a balance of 5,501/. to the credit of the next hallyear. At the Court of Bankruptcy yesterday a dividend was declared under the estate of Mr. J. C. Mare, but the amount cannot at present be precisely determined. The consideration of the certificate of Mr. \V. Smith. late of the Hemel Hempstead Bank, has been adj ourned by the Court of Bankruptcy. Sir M. Peto has taken the contract for the Portuguese Railway from Lisbon to Oporto. The line is to be com pleted in four years, and the Government are to pay the company 8,8501. per mile towards its cost, as each section is completed. The total outlay will be about 2,000,0001. The Trade Reports of the week show some dulness and generally less activity in the manufacturing districts. BANK OF ENGLAND. An Account, pursuant to the Act 7th and 801 Victoria. cap. 32 for the week ending on Saturday, thr loth day of April, 1857. ISRUR PFPARMENT. Notes issued .... 2f;,383,965 Government Debt 411,015,1G0 Other Securities .. 3,459,9 N) Gold Coln & Bullion t 4,505,905 Silver Bullion .... --• A 23.383,265 BANKING DICPARTKIIINT. Proprietors'Capital/14,563,000, Government Seon• Rest Public Deposite 4,851,401 Dead Weight An.) 411133.12 S 9ther Deposits Svv•n Day 4 other ' Notes 3,64'0,220 Bills . 761,286 Gold 4 Silver Coin 626,784 - 423,383,965 234,083,i37 L 34,0.5307 • Including Exchequer, Commissioners of National Debt, Savings' Banks, sod Dividend Accounts. BRITISH FUNDS.— Closing Prices. OFFICIAL. QUOTATIONS. Mond. Tuesd. Wed. Thurs. Friday - - - -,-- 3 per Cent.Consols ..•• 192! 3 921 I 93 1 1931 93 1 Ditto for Account :234 93 t :)i)t 1331 031 I per Cents Reduced 9l/ i 91' ; 92 9ll 91; 2 3 per Cents Long Annuities Bank Stock 7 per Cent 212 ,213 2 21; 13 21443 4 ;213 15 New 2; per Cent Annuit I 761 : 77 I Ruh. Bills, 24ti. .. (June) 10 5d i 4 23 I 2 5d 3 2 4d! 1 d India Donds,(l,ooo/.) I bd ; 3p i 6 3d 6 33 1 3 d FOREIC Mond. f id p 9 21 32 S. 12 IP() 0 1 391 1 9 }U ti 59 IN RAILWAYS. Tuesday. Wednes. 7 1i 7( ls 11 107 9 1 07 gp I 9 019 211 I 211 j g 25 61 n Bll 21 311 21 19 20 19 20 8 2 81 391 I 99 4 9 10 9 10 69 1 G 2 69 OU 59 00 Thud. Antis. & Rttrdm. Belgian East. J. Dutch ithehish East Indian—. 7 11 4 id • I 9 21k f 25 k I al 2 ; 18 20 Gt. Indian Pen. G.W.ofCan.,Sh Lyons & Geneva Madras Nsinur,tl.iege I Nrthrn.ot Fru°, ,1 Norw. Truk.Pri. Paris t Lyons Paris it Orleans Paris • &menu FrMal. 7$ 11 10$ id 7 0 at i 39 9 11 61i 2} 68 9 216 - f 24f 1 31 2 19 20 $ i 30 i 2 1 10 CII 21 b 8 62 m... inn 2 . 6' 3d 7 .98 9 114 136 7' lOrt 10 10i 10 4 4 01i Ck 1011 b 104Ibg 62: g 821 g 4lttropolitan (Reportedeniusivellfor "True Pastas.") CORN EXCHANGE—About average tlme.of-year supplies of English wheat have come to hand this week, in tomewhat improved condition. Selected samples have told steadily, at all advance in the quotations of from Is to 2s per quarter; but we have no improvement to notice in the value of other kinds. There has been a much better feeling in the inquiry for fotoign wheats, and the currencies have advanced is per quarter. Floating cargoes have been dull. Fine Englibh barley has risen fully Is per quarter. Grinding and distilling sorts have realised very full prices. The out trade has ruled steady, at 6d per quartet' more money. Both beans and peas have commanded extreme rates. The flour trade has ruled firm, and country marks have been held ou higher terms. ENOLISH—Wheat, Essex and Kent red. 488 to fs7s; white, 49s to 665; Norfolk and Lincoln red, 46s to ads. Malting barley, 36it to 4tis; grinding ditto, 2Js to 30s dtbtilling , 35s to 155. Malt, 62s to Ids. Feed oats, 20s to 225; potato, 220 to 28s. Rye, 32a to 365. Tick beans, 328 to 335; Harrow, 338 to 345; pigeon, ads to 40s. Grey peas, 355 tons ; maple, 37s to 358; white boilers, 358 to 3,68 per quarter. Town-made dour, Ws to 525; country marks, 36a to 39a; householda,42s to 44a per 8801bs. ♦RRIVALS THIS WEEK. Wheat. Barley. Malt. Oats. Flour. Ensllsh 4030 .. 510 .. 43tu .. 720 .. 1460 Irish Foreign .. 2010 .. DUO 15560 .. Mike. bk. LONDON AVERAGES DECLARED ON FRIDAY—Wheat, 4.56'? quarters, rids; barley, 761 quarters, 44s lot ; oats, 2,e01 quarters, 21. 10d; rye, quarters, —; beans, 316 quarters, 31s 5d : peas, 36 quarters,3ds 4d. IMPERIAL WEEKLY AVERAGES—Wheat, 53s ; bar• ley, 44. 7d ; oats, 28s sd; rye, 36a 8d; beaus, 40s; peas, 398_4d: Tl-11.1 SIX WEEKS' AVERAGES —Wheat. 64a 9d; barley, 46a 3d; oats, 281 Ild; rye, 38s ed ; beans, 39s 8d: peas 39 ' . ENOLISH GRAIN SOLD LAST WEEK— Wheat, 64,6,19 . barley, 22,421; oats, 7,979; rye, 110; beans, 6,184; peas, 719 quarters. BREAD—The prices of wheaten bread in the metropolis are Rd to mid: of household ditto, 61 to 74cl per 41b,• lust. TEA—Large public sales have been held this week. They have gone off slowly, and prices have hod a downward tendency. Privately the demand is heavy, but we have no change to notice in the quJtations. They are as follows Conguu, Is id to 2s 4d ; sing Yong and Oolong, is 24.1 to 2s ; Souchong, is id to 2s 6tl ; Flowery Pekoe, 2s to 4s ; Caper, -- to —; Scented Caper, Is ld to is 104; Orange Pekoe, ls td to is 4d; Scented Orange Pekoe, Is 4d to 2s 4d ; Tw an k a y, 9d to i s 3 d ; Hyson Skin, 8d to Is 2d: Hyson, is 3d to 46 ; Young Ilyson, 10d to 29 4d; Imperial, is to 2s 4d; Gunpowder, Hid to 3s 8d; Assam, le 111 to 4s 44 per lb. SUGAR —Somewhat extensive supplies of raw sugar have been brought forward; nevertheless, all kinds have changed hands steadily, at very full prices. West India has realised its to 80s; Mauritius, tiOs bd to b 95 84:1; Bengal, 49s 6d to 39e; Java, 82s to 36s 6d per cwt. The market fur refined goods is firm, at full prices —viz., 655 to Gds per cwt. MOLASSES—The demand is by no means active; never theless, prices are well supported. Present rates vary from 22s Bti to 261 per cwt. COFFEE—AII descriptions have been in fair request, at full currencies. The supplies on offer are but moderate, and good ord native Ceylon is worth cOs to 61s re , . cwt. COCOA—The supplies are still incr.-mug, and the demand generally is heavy, at further depressed rates. Good ord Trini dad has sold at do to eta; and ordinary te good grey, Oa Od W 731 Per Cwt. FO) Per Cent. . Brazilian 6 Danish 6 Dtch. ( Mx 12 0 uil )24 French 3 Do. 44 Do. Bank Stock Mexican 3 Peruvian 44 Portuguese 4 Kusaiau 5 Spanish 3 Turkish Acc.B HA ILWAte--• Aberdeen Harm. Wolv.& Stour Val. Bristol a:sd Exeter Caledonian Chester and Holynead Cork and Bandon Dublin & Belfast June East Anglian Eastern linior.(l3) East Lancashire Eastern Counties Great Northern Gt. sch. end Vat of Ire Great Western Lancashire& Yorkshire Lon., filburyok S. Brkg. Lou., Brighton, &c London and Blackwall London and birth- West. Siidland Newmarket. Newry and Enniskillen Norfolk Nrthrn. Counties Union North British North Staffordshire North-Western °sr., Wrcstr., and \Vols Scottish Central Scottish Midland South Devon .... South- Eastern and Dov. South. Western South _lValea Waterford dr Limerick /41 ISCELLANEOUS— AustraliauAgricultural. Canada .. Crystal Palace Crystal Palace °heroines! North British Ans. Laud .Peel River Land & Scottish Aust. Invest. South Australian Land Van Ilipm.n's Land I Mond. i m 91 1 Ai 9 ; ( i 9 i j , 34 - PI 19i 20, 364 Ail 199 100, 3,4 GO 3 4 id 44 5 S 4id 7 i i, 2430 i 108 8 it s "4 8 4 75 6 187 8 105 42 251 94i xd FARES Tweed. 14'ert. 70 2 17i Si ;76 e .d 7 ,20i 150 65 81 69 31 6.11 3t 34 6 - 9 19 - 20 1113 e 9/i 99 ; 11t i 96 7 103 5 66i 7 wit 1 108 10 13 6 1041 b 62 59 61 3 1 i 4 43} 4} 51 Id 74 8 23} 30i lu6 8 17i SE 741 5 1004 le 87 S 20i li 10 6 2 : : ti I 33 11 $ SATURDAY, Fr iday• 99! 101 Mond. 904 g ri t :69f 36e 1 I f.I 41i xd 1 111 1/6 7 1 6 6C4 V 101 j pl 108 9 34 64 1044 to 83 4 1104 lj 150 1 2 4 t ri 2} :1 :3 'B9f 35-c 1 91: 23e 23i 77 ; 8 9 9 8 31 , 1 69 i 1 31 6 119. s O, 115 t 81c 418 100 111 1 103 5 jsei 7 101 i 2 :OS 9 bi Ca ;o4 3 n 8 GO. 3 1 Id 44 3 3i td '44 5 40 25a3011 g 6 08 1 i 7171 5i 6 1 3 4il 71 291304 Ic9 8 187 8 20! 131 150 55, I:Jt e I 2} a 11 13 le if It 34 7 :1 :3 IDS. Wed. ; 100 i 69(30e, t c: I 651 ,69f81:16 414 184 . 9 .69 91 134 6. Ha 0 1 34 6 ,19a90. 1 135 1 Cs ;0 86 3 1° 5 7 11j flOs 7' 1101 j 2; 103 .136 i 7 21 58 6O 59 61 " 5 3k 4;d 7j 8 2943.04 106 d 70 17j B . i 70 j 187 9 I4o} 1 ,:t4O '44 1- I 21 I LAi 7 11 13 f a f a 104