The Press. — London, England, 1856-09-06 00:00:00

SEPT. 6, 1856. fault. The noble hall newly decorated, th i orchestra remodelled, and the organ increased in size, were a merely preliminary outlay, without reference to the enormous expenditure in the organisation of the festival. And without fee or reward the chairman (Mr. S. Smith) and committee gave their time and trouble for months to secure a brilliant execution. In this they have fully succeeded, and no amount of detraction can deprive them of the grateful reminis cences of those amateurs who are free from local prejudices and dislikes. It is given out gravely that one reason of the deficit is to be found in the absence of Mrs. Sunderlend, a local soprano, who has been heard at Exeter hall, more distinguished by a fine voice than for her polished style. Pages and pages have been published of a controversy touching the omission of the lady's name from the last part of The Messiah, because the abbreviated version was used. And, assuming that the compensation offered to Mrs. Sunderland's artistic dignity by giving her the lead in Frida3's miscellaneous selection was not enough, were the destinies of a great meeting to be compromised by such miserable cabals? The friends of the Yorkshire " Queen of Song " have turned an incident of the most trifling kind to the best specu lative account. But the final judgment of the public will arrive at this,—that if the committee hastily took out Mrs. Sunderland's name, without considering the artistic temperament, which is of the volcanic kind, Mrs. Sunderland's susceptibility might have been softened by her taking the noblest revenge, namely, by having sung the day after The Messiah one of her most successful airs, given in the true Yorkshire tongue, which a local critic assures us " is a manlier, and more open language than the mixed London dialect," a discovery which, if generally adopted, must lead to the compilation of a new dictionary. The Bradford Musical Festival will remain one of the greatest of musical meetings. MUSIC AT RIRMINGHAM.—rhe opening of a new music-hall at Birmingham has been celebrated by the performance of Handel's Messiah and Mendels solin's Elijah, last Wednesday and Thursday, and by two evening concerts on the same days. The hall has been erected by a company, the committee of which emphatically deny the intention of inflict ing any injury on the great triennial festivals held in aid of the funds of the General Hospital. This intention, it is to be hoped, will be rigidly adhered to, as nothing more suicidal for the fame of Bir mingham can be conceived than an organised oppo siticn to a charity, one of the first of its class in the country, and to a music meeting which is of Eu ropean interest and importance. The principal singers for the four performances were M me. Novello, Mine. Weiss, Mrs. Bull, Miss Dolby, Mr. Simi, Reeves, Mr. Montem Smith, Mr. Thomas, and Mr. Weiss. Mr. Simms was the organist, Gray and Davison having built a new and powerful instrument for the new hall, the interior of which is more re markable than the exterior. Mr. Alfred Mellon was the conductor, having his well-trained band of the London Orchestral Union strengthened for the occa sion. The chorus was a complete failure. ROYAL SURREY GARDENS.—The dead calm in musical London has been relieved this week by the singing of Alboni at the concerts in the Surrey Musical Hall, supported by M. and Mme. Gassier, and Mr. G. Tedder, the tenor. DEATH OF LINDPAINTNER.--GerMany has lost one of the best of modern musicians in Lindpaintner, the chapel-master to the King of Wurtemburg, and director of the well-organised opera-house in Stutt• gardt. Lindpaintner was the composer of several operas, symphonies, overtures. His name will be remembered in England chiefly by the " Standard Bearer," so admirably sung by Piachek. Lindpaint• ner conductei Dr. Wylde's New Philharmonic Con certs at Exeter-hall, after the secession 'f Berlioz. The rumour that the future Royal Italian Opera House would occupy the site of the proposed St. James's Hall is contradicted. Ett gimme. PRINCESS'S THEATRE.—This theatre was reopened on Monday, after its brief close, with the play of Pizarro. More a melodrama than a tragedy, Mr. Kean has here a less illegitimate opportunity for attempting great scenic effect. The mice en scene is perfect, the paintings of the mountain passes have never been surpassed on the stage, and the repre- sentations of the Temple of the Sun, in the first and third acts, are very beautiful and effective. In the cast Mr. Komi plays Rolla, a character unusually suitable, Mrs. Kean Elvira, Miss Heath Cora, and Mr. Ryder Pizarro. The five acts are rather more tedious on the stage than in the library, which even Mr. Kean's Scenic effects fail to relieve. The house has, how ever, been fully attended, and the piece Diu the whole well reLeived. HAYMARKET.—As You Like It was performed on Wednesday evening, tor the purpose of introducing a young lady to the London stage in the character THE PRESS. of Rosalind. The ruing debutante supported the character well, and upon traditional principles. In the scenes with Orlando she was most successful, and threw much freshness and piquancy into her acting. She was very well received, but As You Like It was not repeated on Friday night. Compton's Touchstone was the real feature of the play, and one of the most finished bits of acting for some time seen upon the stage. Ouranc.—The benefit of Mr. W. S. Emden, the acting-manager of this theatre, is fixed for Saturday next, when there will be performed Stay at Home, Medea, and A Conjugal Lover. Lllariat anb (Eitg FRIDAY EVRNING. THE return of the Bank of England for the week ending the 30th ult. shows the following ci.anges compared with that for the week preceding : Increase in Circulation .. £232,929 Increase in Public Deposits Decrease in Other Deposits Increase in Government Securities Increase in Other Securities Decrease in Bullion Increase in Rest Decrease in Reserve Bullion in Both Departments Circulation, including Rank Post Bills This comparison reveals several important changes. As far as regards the Bank, it shows that the demand for money last week was more active than was supposed, inas much as the loans and discounts are upwards of 1,000,0001. more than in the previous week. The money thus put into circulation caused a diminution in the Reserve, not withstanding the large addition to the Government Deposits, though not one of an excessive character, con sidering that private depositors withdrew large sums, an 3 that a moderate addition has been made to the Govern ment Securities. The Bullion is again lower, not, how ever, to an extent to lead us to believe that resort will be had to higher rates of discount. The Government de posits having been increased by the payment of the instalment of 500,0001. upon the loan, now amount to nearly 6,000,0001. Altogether, the return is the least favorable of any for the last three or four weeks, but there is nothing in it to justify serious apprehensions of money being rendered dearer in consequence of it. At the same time, there is enough in it to render caution necessary. When we lately wrote upon the prospects of the harvest, and their effect upon the value of money and the price of securities, bad weather had been prevailing, followed by an advance in corn. Money, however, was easier, while the public funds and securities in general were manifesting a tendency to higher rates. During the present week these conditions have been partially reversed. We have been visited with weather highly favorable for the progress and termination of the harvest; but money has been increas ing in value, and securities of nearly every description have been falling in price. A position so anomalous does not often occur at this period of the year; but to a certain ex tent it is capable of satisfactory explanation, and in the course of our remarks upon the topics involved in the con si.leration we shall suggest a few points that may assist iu the solution. The weather has been all that could be wished to relieve anxiety respecting the character of the harvest. It has been fine and genial, with a sharp dry air, accompanied by a warm temperature. The crops have been matured not too rapidly, yet effectually; and though labour has been scarce, they have been safely gathered in over fully two thirds of the entire surface of the country. The condition of the young cereals has, at the same time, been improved, while the testimony of independent reports is highly satis factory as to the amount of the yield. Under these cir• cumatances the market in London has given way to the extent of lOs. per quarter; while some of the provincial markets have declined still more. Ten days more of the present weather will place the entire harvest beyond ap prehension; and as there is no immediate prospect of foreign supplies diminishing to any great extent, notwith standing the Peninsular demand and the prohibition of exports from some parts of Italy, we do not see how prices can be maintained at the present average. Although money has been in good supply, the general character of the market all the week has been one of til:ht nese, attended with slightly advancing rates. Yesterday and to day, the 4th and Oth, being the days on which in every month vast sums have to be provided, in order to tetire the commercial acceptances falling due, there was naturally an active demand ; and rates, in the mass of cases, have been barely under the Bank minimum. The reserves in Lombard-street, though good in the aggregate, have nevertheless been reduced, while next week a renewed 861 demand is probable from the approach of the period when the final instalment upon the loan, which is twenty per cent., or 1,000,00 W., must be paid, in conjunction witt. the Stock Exchange settlements in Consols, Railway, and Foreign Securities. It must be remembered, too, that the time is at hand when there will be an additional circula tion of bills from the manufacturing districts for which it is usual for certain houses to provide largely beforehand. These circumstances, incidental to the period, naturally affect the market to an extent that may temporarily coun teract the tendencies of the corn markets. Besides, during Wednesday and part of yesterday, al prehensions were felt lest the Bank, in order to protect its bullion, should add one-half per cent. to the present minimum rPte of discount. This assumption—for it proved to be nothing more—arose from the fact of some amounts of gold having been taken from the Bank for the Contineut. It was certainly not jus tified by the previously published accounts of the Bank, nor by the alleged reduction in the stock of bullion ; but it produced a tangible effect upon the market, from which it cannot yet be said to have recovered, for all such impres sions, whether founded or otherwise, generally last a con siderable period. On the whole, then, the present dispo sition of the Money Market is not one to encourage the hope of much ease for the next fortnight, though we do not anticipate such an amount of inconvenience as would be caused were the Bank next week to increase the rate of interest. We do not expect any such policy on their part; but we do anticipate that the minimum value of money will remain at four-and-aquarter and four-and a-half per cent. The specie imports during the week have amounted to nearly 1,100.0001. The exports have not been less than 950,0001., including those to India and China, consisting of silver to the extent of 808,5701. It is probable that of the balance 100,0001. may remain in this country. But there seems to be a good deal of uncertainty as to our power to maintain our stock of gold much beyond the existing average at the present rate of import, in consequence of the apparently permanent necessity to buy up silver on Indian account, for which gold is paid, and the demand from France, caused by the change in the metallic circu lation, and the drain upon Paris for material works in different parts of Europe The gold production in Australia is increasing, however; 60 that, with supplies from that source in conjunction with supplies from California, it is possible we may, while supplying the whole Continent with the precious metal, increase our own stocks. Still the import is at present too irregular to enable us to calculate upon its amount with certainty at any given period. When the Australian mail packets, which commence running next month, shall have become so effective as to insure a quick periodical transit from that quarter, we shall have better data to guide us. The irregularities which now perplex us will be diminished ; and the supply and demand will be ascertained with the same ease and accuracy as those of any other commodity. Until this period arrives our stocks must necessarily be subject to more or less fluctuation, liable to be increased or diminished by special causes, such as are now in full operation. But in the meantime there is nothing in the course of trade, the tendencies of speculation, or the financial position of the great European money markets. to lead us to expect that the stock of bullion in the Bank of England will per.nanently fall below its present amount. We have again to report a slight decline in Consols. On Friday they closed at 951 for account exactly, and last night at 94j to 95. The decline consequently is a quarter per cent., an amount which must be considered as extremely moderate, or rather as very small, consider. ing the influences by which the market has been affected during the week. The opening price this morning was 941 to 95 ; and they remained et that quotation the whole day, with a quiet but pretty firm market. Foreign Securities are about the same as this day week. Business in them has been uniformly languid ; and perhaps there are fewer transactions recorded in them during the last seven or eight days, than within the same length of time at any former period this year. Quotations appear to be solely maintained by the fact that any thing like a fall would be sure to bring in buyers, particularly of the more approved stocks. Holders therefore remain fi rm. In Railways there have been considerable fluctuations, which have resulted in a decline of from lOs. to 20s. upon last Friday's quotations. Want of business, and an unde finable sensibility as to the position of the Money Market, may be ascribed as the principal causes of this change. Traffics keep up with great regularity, and there is no abatement of public confidence iu the value of these secu rities ; but against this must be placed the circumstances just named, and the great rise which wok place a short time ago—a rise sure to be followed by a reaction of more or less severity. That reaction is in progress now, and it is doubtful whether it will be checked before the termination of the present account. Caledonians have partially recovered the extreme fall noticed last week, but• they are still heavy. To-day there was a marked improve ment in the general tone of the market, but only a pealed recovery in prices. Joint•atock Bank Shares have sustained a shock by the suspension of the Royal British Bank, and moat of them are lower than this day week, but not to any great extent, unless it be Western of London, which have declined one per cent. Ottoman Bank Shares remain at about dis. Miscellaneous Shares are inactive, with no change in quotations. Crystal Palace are now at 2to The Royal British Bank suspended payment on Wednes day ; and its affairs will have to be liquidated in the way pointed out by law. This establishment—the connections of which were chiefly among middle-class tradesmen and people in a small way of business—acquired a fair repu tation during the earlier years of its short career; but lately numerous unsatisfactory reports have been in circu lation respecting its condition, which precipitated the final catastrophe. Mismanagement and neglect of the ordinary principles of banking, as understood by the cautious ex perience of the present day, combined with irregular ad-