The Press. — London, England, 1856-05-10 00:00:00

452 scarcely more satisfactory than those for the last two or three weeks. The diminution in the Reserve is very con sidemble. The notes alone have decreased to the extent of1(01,5801., compared with the antoaut in reserve last week; and the total sum of notes and coin in the Bank till is now no more than 4,04,3151. So long as this state of things, or anything like it, exists, there can be no ex pectation of a change in the rates of discount. From wher items it appears that the Government, besides dip ping freely into the Public Deposits' bag. also become a borrower to a considerable extent ; whilst both the Private Deposits and Private Securities have fallen off to an aggregate of 759,5261. The two latter are features which may be taken to indicate that active and profitable em ployment is found for money out of doors. The directors of the Bank, at their weekly court yester day, were occupied fur more than two hours in the discus. sion of some important question. It is the general opinion that they took into consideration the expediency of reducing the rate of discount on three months' bills from seven to six per cent., and thus equalising the terms on long and short-dated paper ; and, from the duration of the sitting, an inference has been drawn that this operation will not be deferred much longer. This is an expectation which has been held out in some quarters for many weeks past; but the position of the Bank's Re serve, as shown above, scarcely justifies the presumption that it will be realised so soon as next Thursday. The Money Market, notwithstanding the removal of the pressure caused by the liquidation of the commet...ial bills at the end of lust week, has been very stringent, and maxi mum rates have been required iu all except a few excel). tional cases. This, too. has occurred in conjunction with the fact that the discount-houses and joint-stock banks have good reserves on hand for which it has been not easy to find employment at existing rates, except for the shortest possible periods. The market, in fact, is in a very anomalous position. It is to be expected, however, now that we know pretty clearly the financial position of the Government, that matters will in a few mouths fall into the ordinary tract, and that the disturbing causes which have occasioned so much perplexity will gradually disappear as business is relieved from the irregular operations which have pressed upon legitimate enterprise ever since the beginning of last September. There was considerable pressure upon the market to-day, and the ap plications for advances and discounts at the Bank were numerous. It is believed, however, that the present de mend is only temporary, and that more of it is connected with the several speculative undertakings, home and foreign, that are now in the market than with the ordinary trade of the country. . . . The total impo w rts of speck during the week have amounted to 4 41,0011. Between 60,0001. and 70.0001., out of about 200,0001. which have arrived from the United States, were brought on account of the Bank of France, and that establishment has commissions to purchase gold in London still uncancelled. It thus appears that the artifi cial system adopted tool Vain supplies of gold by purchasing it at a premium upon the natural market price, is still in operation. Silver is advancing in price, owing to the enormous demand from India. The reduced estimates for the naval and military services show a diminution of 17,558,9811., being 14,250,930/. for the army, and 3,308,0011. for the navy. It is believed in some quarters that means will be found to increase the aggregate diminutions to 20,000,0001., if possible ; but at present there does not appear any great prospect of that description. Still, 17,058,981/. is satisfac• tory. With this reduction, and the new loan of 5,000,0001., it is presumed that the Chancellor of the Exchequer, when lie introduces Ina budget on Monday week, will be able to make " all ends meet " without adding to the taxation of the country. The monthly debtor and creditor acconnt of the Bank of France for the four weeks ending yesterday, the Bth inst., published this morning, shows some important changes compared with the account for the precedin mouth of April. The bullion now amounts to 11,453 , 9181. against 10,730,000/. last month, showing an increase of 723,9171. The increase, however, is far from being in the same pro portion as that shown in the last monthly account; it was then 2,165,00.11. upon the amount stated in the return for Mauch. Still the increase is progressive, and it would be very favorable if we could Le assured that it was all ob tained by the natural results of commercial and exchange operations. The deposits have increased 1,289,7781.; and tte Treasury balance has decreased 354,79(11. This account also clearly shows that the bank has been exten sively supporting the Bourse during the past month, for its loans on Rentes have increased 937,1291., whilst its advances on Railway Securites are 259,3421. more than in fhe preceding month, showing an aggregate increase of 1,195,471. The premiums paid during the month on pnr chases of gold and silver amount to 93,8181. against 75,3001. last month, being an increase of 18,5181.; and, as stated before, this class of transactions are still in operation. Consols were but slightly affected in the first instance by the announcement of the loan. The opening prices were 9.21 to 93 for Money, and 931 to for the Account (June 4): when the loan was announced there was a decline of only one•eighth, which was almost immediately recovered; but afterwards, on some rather heavy sales, there was a fall of a quarter to three•eighths, and prices at the close were 94 to for Money, and 93 to i for the Account. The bnsiness of the week has been very limited, owing in a great measure to the attention of dealers being ab sorbed by the settlement, which has passed over without difficulty. The public have been money purchasers to • some extent. The Railway Market has generally maintained firm prices, and an improvement of from a quarter to one-half per cent. has been realised on some descriptions. Others, however, sorb es the London and North-Western and the Great Western, have rather Audi:lW, owing to shilling off Pi./ tt 'HIE PRESS. in the traffics, and to-day shares of all descriptions were flat, more in sympathy with Consols than from any other sure of Stock. Joint-stock Banks and Miscellaneous Shares are, on the whole, somewhat better than last week, though there has been no striking change in any. The amount paid into the Treasury of the East India House for bills on India, from the 23rd of April to the Bth of May, was 152 643/. The Colonial Wool Sales have commenced, and prices on the average have improved I id. per lb. The dividend and bonus of the National Provincial Bank of England amounts to 161. per cent. per annum. The capital is to be increased to 600,0001. BANK OF NOLAND. An Account, pureuent to the Act 7th and Nth Victoria, cap. 32 for the weak ending ou Saturday, the 3rd day of May, 1858. MIUK DEPILRTMENT. i Notes Jostled .... £23,013,449 Government Debt X 11,015,100 Other Seouritlee .. 3,4159,1.) Gold Con & Bullion 9,161.440 Silver Bullion .... --- £23,86,440 423,636,440 TIADKING DI ProprletorsTavi lel 211,353,000 Rest :PAD.TMENT. Government Senn• Publie Depoetto* 3,871,709 Other Deposits 10,808,01 i. Seven Day & °the, Btlls rities (including Dead Weight An.) 413.733.0R3 Other Securities l3 44C,28i3 Notes 3.130,875 Gold .1: Silver Coin U 23.440 C 33,251,66-1 I ki3,2 Y 7,60 • Inclnilinz Exchequer, Commissioners of National Dubt, SAViII6 O B Banks, and Dividend Accounts. BRITISH FUNDS.— Closing Paces. OFFICIAL QUOTATIONS. !owl. Tuesd. 11110. Thurs. Friday. per Cent. Consols Ditto for Account 3 pet Cents Reduced 3 put Cents Long Annuities Honk Stock, 7 per Cent. Omni= Exoh. Bills, 2iii.,Jnne India Bonds, (1,0001.) RAILWASd-• Aberdeen llinn.Wolv.A Stour Val Bristol mid Exeter Caledonian Chester and Holynead Cork and Bandon Dub:in & Belfast June., East Anglian Eastern 1111i0C(B) East Lancashire Eastern Counties Great Northern Gt. Sth. and Wat of Ire., Great Western Lancashire* Yorkshire Lon., Tilbury, &St hand Lou., Brighton, Ac London and Blackwell London and Nrth-West Midland Newmarket Newry and Enniskillen Norfolk Nrthrn. Counties Union North British North Staffordshire North-Western Ox f., Wrcstr., and Wul v Scottish Central Scottibil South Devon .... South-Eastern and lluv. South. Western South Wales Waterford k Limerick MI Agricultural Canada Crystal Palace Crystal Palace of France North BritisliAus. Laud' Feel River Laud &Mi.,. Scottish Aust. Invest. South Australian Lan,i Van Dienieu's Land OS ;92i 3'921 3' 911 ;93 *92 4 311 031 it 4 i 911 •j 1 911 i i; 92 t t . 92k 92i 9 1 } 1 3-16 , 31 1211 11211 011 219/ 12111 11 211 ji 8 92i t j: 911 ir id 4(11 3d 5,1 i 1.1 SUARES. di b. 9 59e CO' 15 6 16; "ii 23 5 76 8 9t 101 95 6 102 41 61f 2A I aSs xi 101 3 7 104 11 os s! $t :14 6 . 6 foiti Frill. 28t 61 di 9 147 9 6dl 91 16 6 3 9 is94Gut 1104 di -d il6i 7i 123 6 76 8 10 1 96 6 1102 4 l elf i dde 9 8j rq 9 GO j I.;s G 103 S 73 ; 14 X 5l 71 2 1 04 5 1 71 3 1 rl9 31 .1.40 3 a !101 3 1100 i 1 i r4 i 5 1 63 6 1 3 e id, 34e ;6 6111 26 81 1 10 3 3 7 5. il4 6 1 71 2 91 5 171 3 '29 31 14U 3 3 1 d 10i 7i 23 A 78 8 I 93 1G: 95 8 1 ;62 4 81f 2i, 184 91 1101 8 100 i '74a 62 5 34 3t i bic i 16 Si' 1 28 8 .11)3 75 7 14{ 5a 71 91 b 171 8 I 29 31 140 5 3 41 - 9 - 57 V 59i001 14 G I 41 3I i s 7 gi 'l3 —d Kt 7i 28 176 3 24 10 24 5 102 4 icki4 I 101 7 1001 174 i 121 1 11 3 ki 1 37 V . 13 61 a 2a 3 .* 9 b 3 5 4 id die b 4 G 3iu 20 8 103 6 70 7 14i 6i 704 lj • . :14,1 1,5 171 3 129 31 139 4:3 2i 3; 1 2i 3 1 1 ;17 a lb 1111 TA 23 5 70 94 10 23A 4A 102 4 G 0 1 801 9 101 103 7 # 100 # 74# b 53 5 8 ! 34 5 01 20 28 103 5 75 7 14 5! 70 1 !.4 71 3 29 31 1:18 49 21 3 21 il i 1 8 8 14a 5a Ilb d COMMERCIAL PUBLICATIONS, THE commercial publications we receive from time to time, as they chiefly concern the commercial world, may most conveniently be noticed in this department of our Journal. In a volume of nearly 1200 pages the editors of The Mercantile and Maritime Guide• have compressed the law regulating our mercantile marine, and the branches of commerce connected with it, together with all orders and regulations issued by Government boards, and such prac tical information on customs' laws, warehousing, matins insurance, bottomry, and other matters connected with shipping, as persons interested therein are continually in need of. By the legal part of the work being edited by a barrister, and the practical part by a customs' officer, a guarantee is given for the correctness of all the details. The Merchant Shipping Act of 185.1 (with its amend ments) and the Passengers Act of 1855 are given in extenso, with such explanatory notes as are required. The practical information given for the guidance of Shipowners, Brokers, and Masters, seems very complete; as for example, the ships' stores required per head ; the average duration of voyages to different ports ; the rules for preservation of health; the moneys, weights, measures, and exchanges of all foreign ports; the charges and regulations of docks; the tables of colonial duties ; and the practice of the London waterside customs. The volume is complete of its kind, and carefully produced. • The Mercantile and Jlaritinie Guide. By G. Willmoro, ono of H. M. Conn Bel, sad L. Beedgy, filaign; Tiockeuzli. a the Customs, London. 2 4d; 3 di2d pa* 7 di d 2 3d Mond, Tuesd. Wed„ r 7 Aut. 25i Gi • a !s: a; . 9 3NI !25i es Mr. Pope's well•knowu Trade Journal• in plan and more miscellaneous in int above Guide, though the two works hat common, as the last Merchant Ship? tables, &e. But though mainly mariti►ue Pope's Journal embraces all matters relating merce, and manufactures. and from what has Leen done in those department' one issue to another, it forms an annt ►nercial transactions. The work has now fifth issue, and has increased in size any age. It is especially valuable for its cot. recurd of all decisions in law sffeetini , terests, of all alterations in tariffs, n' lights, commercial treaties, trade di affecting, or likely to affeA, currents f the time of its publication. In one some retrenchment might be made. _ in the present edition he has remembered advice to Dr. hit:lean:, that his work want public, however, were not of the Works devoted to special suijecis cannot confine themselves to their special ens their details to other persons than those intended is their recommendation ; and wisely in making his volume as close possible, excluding every line which has value, and does not give some positive volume contains a good map of the wor The Bombay Calendar and Almanac: the Bombay press of Mr. Wray. It is , of nearly WO pages, containing a noun plete lists of the Indian army, navy, and well written articles on commercial aid variety of local information. Pope's Yearly Journal of Trade. 3866. Litne•etreet, City. Bombay Calendar and Almanac. 1856. Office. EADVURTMEMENT.] KENT MUTUAL LIFE ASSURANI QUZZN•STREZT PLACE, NEW CANNON•STRir JA ME b'S-STRZET, LONDOr The Annual General Meeting of this at the London Tavern, on the tith inst., merously and influentially attended. MI chairman, took ths chair; and a Lel the following are extracts, was read adopted "NEW BUSINESS-18554, " 351 New Policies having been issued day ended, representing New Premik._ 6,1011. 4s. 10.1., and the gross Premiums creased to the large sum of 24,5311. 14s. ' turn do not hesitate to anticipate that you gratification at such a result. The New past year exceeds considerably even the result attained in the previous year; closed has, in every view, been by tar which the Society has yet experienced." " The I hrectors have, at the same time. that, instead of relaxing in their care as Members, they and their Medical Officers contrary, given their most earnest attet cuttistances "f every proposal—and they is evident from the circumstances of having been declined." " Further Proposals, to a large amours payment." " The following Tabular Statement greuive ailvance of your Society's 13usi Number. . Preinnuna on Ain& Year. of Now Assur Policies New Ne liciep. homed. Polk d. 1821-51 293 2,427' 2 2 66,990 1851-54 127 1,236 15 U 30,749 1852-58 127 2,287 4 7 89,1118 1653.51 271 6,983 8 2 1.'8,253 1951.55 bO9 6,:05 la 5 17 , ,::r.5 185!..56 351 0,401 410 105,994 Total_ 1.648 21,531 14 11 086.1:4 " BALANCE Sit.- " The Yearly Statement of Receipt to the 25th of March last, and of as at that date, duly framed ani you, exibibitiug transactions of showing Amiets amounting to 48, " ASSETS AND LIABILITIES. " The Assets and Liabilities have been valued most scrupulously, and a much larger amount of realised As.eta is in hand than is actually necessary for the discharge of claims. without anticipating the Profits of the future : anil this, after the payment of every preliminary expense in establishing the Society, without the ail of Proprietors' Capital, and the consequent detraction on that head from profits, which, in this society, are exclusively the property of the members." The railing Directors and Auditors were re-elected, and votes of thanks were enthusiastically tendered to the Medi. cal Officers, the Actuary (Mr. Hillman ), and the Manager ( Mr. Cumming), and to the Chairman, for his conduct In the Chair. In the evening the Directors entertained a party of the supporters of the Society at the tavern, which was honoured by the presence, among others, of Sir James Duke, Bart., AI P., Lieut.-General Sir John Burgoyne, Bart., G.C.8., General Wylde, C.B. Thomas Critchley, Esq , William Fergusson, Eaq., F.8.5.E., Dr. James Bird, Richard Till, Esq., A. B. Cutbill, Esq.. CAP taiu Macgrigor, Bev. Dr. Mecguire, Jrc., &c. The emit° conre of the proceedings was Most harmonious ai,d gratitying, and promised well for the future operetious of the Society. f:itiontpamitita r tin.fea sra rir soaetilmismnintsletrlnoiceeidto: of trade , from date twenty. SATURDAY, aemeadtilicse.ct,pou Journa l :s e . nd i i s n izi ch o a re ni e c l te t r e ,:l ea r . yolks have us in infOnnation than the vaetinsognitoe trfeaanteulsmin. n size and Pwurilt Ilats)ril completeen' register carefulgu e A f e t e eu t sivrn moue, e g torvatd.reie, commercialciht changes ut w t r a rra ri de e ffe, notices concerning In one particular we think made. Mr. Pope says that •emembered the publisher's work wanted variety. The of the publisher's opinion. jecis cannot too rigorously lecial cud. The dryness of ban those for whom they are Lion ; and /dr. Pope will act As close and business-like as thich has not some practical positive information. The r the world. !mantic: is very creditable to It is a volume altogether g a Bombay directory, cum- navy, and civil service, with ercial subjects, and a great rade. 1366. I.ondon: Nike, mar. 1856. Bombay: Timis EVENT.] SSUItANCE SOCIETY, !ANNON•STREET 3 AND 39, Sr. LONDON. ing of this Society was held 6th inst., and was very nu• nded. Mr. J. T. King, the rod a lleport, from which els read and unanimously ;s —18.55-56. leen issued in the year this Premiums amounting to Premiums being thus in ,6311. 14a. 1111., your Direc- te that you will join in their The New Business of the y even the very satishietury s year; and the year now by far the must successful ienced." awe time, distinctly to state r care as to the reception of deal Officers have, on the lest attention to all the cir• -amid they conceive that this ices of so many Proposals ;e amount, arc still awaiting .atement exhibits the pro. y's Business : posed fur A A s 1 a s t u e w d t t b a y se Policies. s• 6. A A A rn s o r u ur n an ts s c p . 7. d. 66,990 8 d 88,733 11 5 96,749 6 C 46,106 9 it 89,918 6 0 :12,269 3 0 168,263 810 2604,620 1 0 3 17,4,::65 6 6 28:0,29:1 3 1 166,994 2 9 232,638 1 6 6006,17 i 16 7 1,647.646 :7 1 Sli LET. teceipt and Expenditure up 1 the Assets amid Liabilities ind audited, are laid leaure f a very large exteut, and 8,4081. Ss. AB IL ITIES. m have been valued most r amount of realised Assets :essary for the discharge of s Profits of the future : gni ry preliininery expense in . out the ail of Proprietors traction on that heed from are exclusively the property uditors were re-elected, and ieally tendered to the Medi. ), and the Manager 'airman, for his conduct in