The Press. — London, England, 1856-01-19 00:00:00

ANUARY 19, 1856. one rade nnb gitg ititlligatte. FRIDAY EVENING. return of the Bank of England for the week If January 12 shows the following changes com with that for the preceding week : Increase in Circulation £481,514 Decrease in Public Deposits Increase in Private Deposits Increase in Government Securities 1,585,944 Decrease in Private Securities Decrease of Bullion Increase of Rest 45,350 Decrease in Reserve return is again unfavorable. Whilst the active rcirculatiou, inslnding Bank Post Bills, is 20,231,1741., its •ether liabilities on account of Public and rate Deposits are 17,608,117/. more, making a . of 37,8117,291/., the stock of bullion in both de partments is only 10,416,051/., or about 2,250,0001. below the amount which under ordinary circum stances would be kept, in order to maintain the blishment in a perfectly satisfactory condition. bullion has never been so low since 1847; xhilst, judging from the continuous drain, and the uncertainty of supplies being secured, to replace the amounts drawn out, there does not appear much Ipeet of a turn the other way. The figures 1y point to some further action upon the ea iges. The return is unfavorable in some other .aspects. Although the Private Securities have 2,06,320/, by the running off of bills, the repayment of stdrau.cea, the Reserve has gone more than 800,000/., and it is now only 15;504,651/. against 11,11.1,1041. in the preceding week. is partially owing to the large sum advanced to roiernment up n the security of deficiency bills, in • .to provide for the payment of the dividends, tt is estimated have absorbed about 3,000,000/. ,ig the present week. The Bank has probably :arced the Government nearly 2,000,0001. on this noconnt, taking the position of this item in relation Wain the corresponding return last year. The which generally represents profit, is again ly increased. On the whole, while this return motes somewhat improved financial ease on the of the public, it shows that the position of the , and of the Chancellor of the Exchequer, is not ...te so satisfactory as might be desirable under ! present circumstances. Money has been in less demand than last week, generally, the market has been easier, though diminution of rates has taken place. Occasionally, uo laarticular branches of trade, especially the there has been considerable pressure at the 4, but on the whole neither capitalists nor large doyers have needed much assistance, and some ; railways hare succeeded in renewing a portion ieir debentures for periods of three and five at four and three quarters per cent., whilst per cent. was the average required last week. improvement is owing in some degree to the payment of the dividends, which has thrown pro bably 1,000,000/. upon the market for reinvestment, much more to the hopes of peace, which, in ....Jng every day, have inspired confidence, and diminished the growing tendency to add to private reserves. At the same time some of the elasticity of week must also be attributed to a report current Tuesday, that the Government are .coutem ig the issue of one pound notes to the amount 10,000,000/. Such a measure would at any time great effect upon the market, for an issue to extent would release a large mass of bullion, rise to many new enterprises, and stimulate all .:hes of trade, and perhaps at no time more than a time of war. But it would be followed by a corresponding reaction. It may even be feared that delusive idea partially entertained this week will succeeded by some reactionary effects, for it cer affected the operations of several persons who have saved themselves from the possible con mences of a mistake if they had reflected that the of one-pound notes is at this moment abso , prohibited by law, and that Parliament only power to authorise their circulation. Whilst ioney has thus been easier "out of doors," it has been very much in demand upon the Stock .xchange until to day, when it rather increased. railway settlement a few days ago showed signs of any particular pressure; indeed, transactions then brought to a close were very r,and the dealers experienced no di ffi culty in ob ,ining all they required at the current rates of five o five and a half per cent. The specie arrivals of the week have been rather considerable. The West India packet brought 700/. on Wednesday, of which 117,0001. was in - and the rest in silver, and 4,5471. came in yes terday from the Peninsula. The Australian mail 1-ship Ben Nevis, which arrived in Liverpool on Inesday, brought 150,0004 and the United State steamer Pacific, which arrived yesterday at Live 1, brought 4,3221. Nothing has yet been hen the Champion of the Seas, now over-due, w JAN ion 'run ret ending pared w Ic Ii D Ii P This red , circulati and its Private total of partmer below t stances establisl The bu whilst, tincerta. amount prospse clearly .changes .aspects. dirninisl :and the ,down n A. 504,115 'This is Govern order which at .during advance account, to that. i Rest, w largely i :denotes part of Rank, in .quite present Alone: and, gen .no &mit .and its colonial, Bank, h► employe of the ra of their years at five per This imi payment bably 1,( . but muc creasing diminist reserves the weel, since T plating t • of 10,00 X produce this exU •give rise "branche! in a tim correspo the delu be SUCCE - tainly al might h sequenc, issue of lutely has poi money I not bee Excham The ra no sigi the tran few, and taining to five a The a oonside► 170,700, gold am terday steam-s 1 IVednes steamer pool, hi of tho THE PRESS. .100,0001. on board. The Cunard steamer on Mon day brought no specie from New York, even on French account, as was expected, snd in consequence gold has been sent to the Continent this week from the Bank to the extent of 100,0001. It thus appears that the total arrivals have been 359,5691., and the known exports about 100,0001., but there is reason to believe that the greater part of the week's imports have been purchased for the Continent. As the exchanges are still adverse to the pro fitable import of gold from the United States in the ordinary course of trade, while the demand for it from the Continent is not appreciably less, much anxiety was felt during the early part of the week as to the course which the Bank Directors might take at their meeting yesterday. The bullion is now at its lowest amount since October, 1847, when the Government interposed, while the position of the Bank of France is exactly analogous. The Stocks in both being extremely low in relation to their liabili ties and the constancy of the drain upon them, this anxiety was perfectly natural. On Wednesday, how ever, it was ascertained that the Finance Committee had not recommended any change for the present, and, consequently, no advance was made in the rate of interest yesterday. It is presumed that political as well as financial considerations guided the deci sion of the court on this occasion; and the wisdom of their policy is generally approved, At the same time, it is not unlikely that gold is beginning to return from the East, notwithstanding the popular propensity to hoard, and that there may be symptoms of a relaxing demand from the continent of Europe, known to the Court, but of which there are not yet any public indications. Owing to the almost certain prospects of peace, or of negotiations for peace, by the time appointed for the meeting of Parliament, a great change for the better has taken place in the value of all Public Securities. Last Friday Consols left off at 861 to 1. Yesterday (Thursday) they were done at 001, being an advance of more than four and a half per cent. in the live days. The improvement commenced on Satur day upon the publication, by THE PRESS, of the fact that the Russian propositions for peace were frank and conciliatory, and that the prospects of the war ending were favorable. It suited the convenience of the leading journal to say that no news arrived on Saturday to affect the market, but this news arrived on Saturday, and it did affect the market, so much so, that, owing to it, there was an improvement in the quotations, which was steadily maintained until a heavy fall, caused by speculative transactions, took place in Paris. But., notwithstanding this adverse influence, the market was exceedingly firm in consequence of the statement in THE PRESS, and it was impossible to effect pur• chases below 861 to 1. Had it not been for this news, the fall in Paris and the then state of the Money Market would certainly have led to a decline of five-eighths at least.. Passing by these matters, the market improved to 861 to 1 on Monday on the intelligence that Russia was prepared to admit some of the Austrian propositions, and that Austria would withdraw her ambassador if they were not all con ceded. On Tuesday they left off at 861 to 87, and on Wednesday at 874 to 4, the improvement in both cases being due to rumours of peace. Yesterday, however, effected the great advance, an advance cer tainly not unprecedented, but which may be charac • tensed as extraordinary. Consols opened at 871 to 1, and for a few minutes they remained at that quotation. But almost immediately it was announced that Russia had unconditionally accepted the terms demanded on the part of the allies, and in a moment quotations advanced to 801. The market became ex ceedingly agitated, and great excitement prevailed at the suddenness of the change, many dealers and others not being acquainted with the nature of the intelligence that bad arrived. But they soon com prehended its importance, and, holders being firm at 801, a further improvement took place until there were buyers at 001, which was the highest quotation of the day. Some doubts being felt as to the perfect accu racy of the intelligence, especially as to the uncondi• tional acceptance, a reaction set in, and prices fell to 891 to 4. But from this there was a recovery on the publication in one of the Government organs of a different but an official version of the Russian offer. Russia, it appeared, had accepted the proposal not quite unconditionally, but as a basis for negotiations. For a time this version caused no particular change, but it being considered on the whole as highly favorable to peace, and the market being extremely buoyant, prices once more touched 901. From this a marked reaction followed, and numerous engage ments were made at a gradual decline until they finally left off, firm, at 894 to 4. On this occasion the Committee of the Stock Exchange kept the establish ment open half an hour beyond the customary time for the accommodation of members and the transac tion of business. _ _ Consols opened this r morning at the closing prices of last night, and the business of the day was marked by various fluctuations, arising from differ ing opinions as to the probable result of negotiations on the basis assented to by Russia. The prevailing 67 opinion was uniformly favorable to the sne.cesa of the present effort to ob:ain peace. Opening at 891 to prices gradually improved until they reached 901 buyers. Between this and the opening quotation there were many speculative transactions, the range being exactly one-half per cent.; but a good deal of business was also done for investment. Several efforts were made in the course of the day to depress prices below R9l, but they all failed, a reaction invariably setting in whenever that limit was touched ; and at the official close they were DO to I. Afterwards, however, they receded to 891 to Exchequer Bills, 6s. to Is. dis. The improvements in the French Three per Cents, yesterday and to day, in consequence of the prospect of peace, has been equal to five and a half per cent. Railway Shares, in sympathy with Consols, have all jumped up. The average rise has been 21. per cent. The business of the week has been extremely limited. Traffics still good. The dividend of the Brighton Company will be 21. 18s. for the half-year. Foreign Stocks much higher. Turkish Six per Cents. are 41. better than this day week. The Four' per Cents. not quite so good, owing to the forthcoming instalment having to be paid, but still greatly im proved. The Six per Cents. closed to day at 861 to ►l. Joint stock Bank Shares have also advanced; Miscellaneous the same. The London and West minster Bank have declared a dividend at the rate of six per cent. per annum, together with a bonus for the half year of five per cent. upon the paid-up capital. This makes the total annual distribution sixteen per cent. The London Joint stock Bank have declared a dividend for the half year at the rate of 121. 10s. per cent per annum, and a bonus of 14s. 3d. per share. A small sum has been added to the guarantee fund, which now amounts to 160,8531. The capital of the City Bank is to be increased. The dividend of the City Gas Company for the half year is at the rate of 21. per cent. per annum. BANK OF ENGLAND. An Account, pursuant to the Act 7th and Stii Victoria, cap. 32 for the week ending on Saturday, the 12th day of Jan., IeLG. MI MI PVP&RTMENT. Notes issued .... 12074,305 Government Debt £11,015,100 Other Securities 3,159,900 Gold Coin & Bullion 9,7:69,305 Silver Bullion .... /34,274,305 DAMIUNO DI ProprietorsTapitalSll,333,ooo Rest Public Deposits* 3,638,(0.1 Other Deposits 13,967,308 Seven Day & other Dille :24,274,303 £36,333,664 • Including Exchequer, Savings Banks, Natioual Debt, and Dividend Accounts. BRITISH FUNDS. Closing Prices. OFFICIAL QUOTATION. Mond. need. Wed. Thar*. $ per Cent. Consols .. Ditto for Account .... 3 per Cents Reduced 3 per Cents Long Annuities Bank Stock, 7 per Cent Omnium Exch. Bills, 20. per diem India Bonds, (1,0001.)....1 851 et 86 1 A 8 ii I ----$ B l ll r 7 7 8 1r7190 9 i 8 86 7 87 901 7 1 a wool St -206 a 6 3- 4 7 e 79 4 —• II e Rik LwAls— Aberdeen Birtn.Wolv.&StourVal Bristol and Exeter ' Caledonian Chester and Holynead Cork and Bandon Dublin 1 Belfast June East Anglian Eastern Ouior.(B) East Lancashire Eastern Counties Great Northern Gt. Sth. and Wst of Ire. Great Western Lancashire& Yorkshire Lon., Tilbury, & Stheud Lon., Brighton, &c London and Blackwell London and Nrth-West Midland Newmarket Newry and Enniskilla Norfolk Nrthrn. Counties Unto': • North British North Staffordshire... North-Western Oxf., Wrestr., and Woli Scottish Central Scottish Midland South Devon South-Eastern and Duv. South- Western South Wales Waterford & Limerici .1 .1 2ori 3 7d' BHA' Mond. IR 3 t; 1 .4 !1 4t :4) 9 ,21 3 I t 3 41 124 110 2 altscELLanzous— A ustralian Agriculture Canada Crystal Palace Crystal Palace of Ft ant ' North British A us. Laud Peel River Land & Scottish Aust. 1 uvest South Australian Lan, Van Diemen's Land .., Tied. Ji 8 7j 8 79 81 Nit 10 2 S 4j 11 2 17 9 Adi 9i; ;02 41 51i 21 7d i SI 6 41 ,x}3 i :i 42 4 1 . 8 9 101 3 i 1 S 14 lj 41 74 '4 3 63 7 t 5 8 120 5 2 3 144 I LS 8 I'S 4d 11 2 17 9 18) 71 Is' I il BB i Pi 002 4 1 42 ,78 193 4 .s 6 93 4 63 i 1 42 - 4 101 1 71 3 101 34e5 ,61 26 8 120 44 11 I 17 9 70 SI 11 SI 88. ei , I 114 41 Z.. 3 4 1 ,761 Tt i'hur. 22 4 1:1 8 179 81 lbGt 110 2 S Id] 11 2 17 9 71 3 '9l 2 103 64 5 Tej In 7 !Gal el I i 43 5 d 29a3041 9 diu lit 6 1 120 2 2 i• I 19 4 le 94 6I 26 8 12J ! f i 34 109 4 72 4 104 14 944 94 46i 64 63 7 127 9 ,13 4( s i i i 11 a _ 1 N 15 6 iPANTIIIC/IT. 1 Goverument Seen -11 rities including 1 DeadWeightAn.) i13.411.4L9 r Other Securities .. 17,415,651 Notes 4,ns. ,t NIS Gold & Silver Coin 617.06 136,333,1;64 issionea r of 891 90 90 i 89; 9ok , 90 1 i 8 Id 2d Frid. 22 4 71 81 MI 2 :44 7 11 2 i 4 d lle 2 18 20 .1 3 8 1 j 211 li 103 5 64 5 70 91 )8 61 38 554 Gi 43 5 d 294 301 b 4 7441 41 21 3 4 102 4 72 4 11 2 59 60 134; 86 8 27 9 135 40 i f 2i II 75 8 181 7 bt 119 Stk —d 28 9 i ii a lib i I