Northern Times. — Liverpool, Merseyside, England, 1859-08-06 00:00:00

MONETARY AND COMMERCIAL. FRIDAY EVEN ING operations of the trade during the Dovers, The market for the Public Funds and Securities to-day has been rather bett3r, not as to the great de mand, but with respect to prices. Consols closed firmly at 941,6 951 for both Money and the Account. The New Threes closed at 95g to , 951-. The London Railway Share Market t o -d ay a l so im proved, in sympathy . with Consols. Canadian Shares were steady, and French Shares in pretty good de mand. Caledonians, closed at 831 to ; -East Lanca shire, 95 to 6; Lancashire and Yorkshire, 95 1 to 2 4 , ; London • and • North-western, 931 to 41 ; Midland, 1011 to 2; and Dovers, 73 to 4. There has been little doing in the Grain. Trade during the last • feW days, the weather being, on the whole, favotrable for harvest operations, which are now progressing rapidly. . At to-day's market there was but a slender attendance, and the business done in Wheat was of the merest retail character, at a decline of Id. per 1001bs. from Tuesday's rates. Flour was in fair demand, at late rates. Oats and Oatmeal were 3d. to 6d. per load lower. Indian Corn was • not much inquired for, and prices were rather easier. The. Provision Trade has been dull throughout the week, and although the sales of Beef exceed the vices have declined 9g ~„„ average, few small sales of P o rk are rte. • reported, but of so trifling a character as to make scarcely the slightest impres sion on the heavy stock, which remains practically a dead weight, 'apparently not to be' moved effectually, exc - ,pt at further greatly reduced, prices. There is a slow demand for Bacon, which seems likely to_elear off the small stock of American before the new cure can come forward. Cheese sells well,, and the market is again ,clear of the late arrivals. Thedeniarid for Salt this week has been fair, and prices, are rather stiffer; and the present position of the trade points to the likelihood of rates being still higher than lower, manufacturers seeming determined o them . by keeping back supplies. We quote common salt, 65. , ; rough, is. to Bs. 6d; - stored, Os. to 9s. 6d: and butter salt, 7s. 6d. per ton. M r . T. J. Werninek, of Brunswick-street, fiirnishes us with the following. report, of the state of, the trade during the past month :—" During the past month the - Liverpool — trade has been below the average, ' the- total • shipments comprising only '0,402 tons, aeainst the export of .80,114 tons, in the corresponding month Of last year. decrease has been mainly caused by the scarcity of foreign shipping, and the advanced price asked by manufacturers for their salt. The river Weaver going off, on the 13th of August, for three or four week.s, will necessarily cause supplies to come short, and present prices can therefore be confidently calcu lated upon to be maintained for some time, with the probability of another rise of ls. or 2s. a ton, in the event .4. - the;•usual cirders coming to hand at: this period of the season. The shipments to the United. States.. 17.407 tong. Qbnw • __ • _Drama American exports still continue below the average, only appearing , for 7,124 to ns . Th e I n di an awl African trades h4ve taken their averm.l tic trac V 1 C4i lwll ai Increasea. The Ba. shows a falling off in shipments, when compared with the previous month, and the other ports north of Europe, the same ; the total being only 14,441 tons. Shipments coastwise have been active ; the exports being: to Irish ports, 1,152 tons ; Scotch 9,051 tons ; and to English,, 2,636 tons." There has been rather more bp-* Metal Market durir- siness doing in the the week, and prices of manu- factured iron, tin plates, The letters by the Brf morning. Those from have advanced. were delivered thi Ma il lad bee month, doubloons rancring from 300 to 366, averagin , ._ 362. About £Bo,ooo ° was passed for this steamer al 65s 6d. and 64 the pre va ili ng ra t e b e i ng -655. 6d. The weather had very unfavourable for the staple produee' of the country, the long droughts of autumn being succeeded by severe frosts, which burnt up the little pasturage, remaining, and live stocks of all kinds had suffered very seriously in: consequence. Durino- the . last few days • :before the depar ture- the packet, rains,- and damp cloudy weather, had set in, .and. were producing a bene ficial effect. From Pernambuco we are informed that business throughout the 'month had been dull. ,Heavy . rdins had continued, and consequently impeded intercourse with the interior; .. Supplies of produce had been very trifling, and it was considered that.the Sugar crop was over. Brown Sugars were worth 18s. 4d. to 225. 2d. per cwt., f. o. b. Freights 'wereflat. For • Cotton the quotations were :—Per nams, superiors, 7`7-16d: per lb. ; regulars, 7 3-64 d. to 7-A-d. ; Paraibas, free on board (1-3 d seconds), 6 41-64 d. per lb. ; Maceios, 6d. per lb. Our. own c orrespondent, writing at Monte Video on the 29th or June s,ay . W V - - , w e have, contrary to general opinion, a t the enct of last Tonth; ' eiperienced a still further rise in all kinds of pro duce excepting Wool, which, no doubt, as relates to Hides, must he att r ib u t e d t o `the' commencement and probable de '%ioPyient of warlike operatiOnS in Europe ; for the t.ippa e.t inelination to purchase !was increased since receipt of this news dated t o . As will be obserked, our, stocks are again re to the p os a si lrre Cipher, although doubts are entertained as and consequele effect it may produce in the Money Market, perfectly toot insecurity of some bills considered hitherto There is Protect Pending in the Chambers for levying au export.dautl elf e4cper cent. on produce, which will have its correspondinglawCiiii het ?n our market prices. It is believed that this il.rn, c:rv_!diately issued. A Brazilan ste ame rnved , able news of the annullin g of t es terday, brought the agree ential duties, so that, hencefo r t h law relative to th e differ .of produce from th e Argentine ecnjeed expect good supplies ration. EXPORT OP PRODtru E g o , , 11 , I ''''GLANT FROM MONTE VIDEO. ---B,v s . salted. ox an . a l). 5,442 dry horse hides, 486 pipes tallow, of i ---- b cow hides, bales hair, 7 bales sheep skins, 150 bales tobaal" wool, 49 bone ash and bones. tobacco 1 cargo FROM URUGUAY AND PARANA.--23, 705 salted o and tow hides, 419 pipes tallow, 130 bales wool, 7 bales: ' l l az, ), cargo bone ash and bones. e Cotton 'market remained in a very . quiet and steady position. To-day the sales were about 7,000 bales, of which 1,000 were on speculation and for export, at the rates of yesterday. The total sales of the week are 46,200 bales, against'3/,336 bales im- ported. Messrs. Geo. Holt and Co., in their circular of this evening, allude in the following terms to the ':an,e to notice ia the cottoh mar There is hardly and ket for the past week ; A in life and animation. Tl. to a fair extent, but the, deli. and in some instances a conces_ . in the "middling" and better g hasten sales—but - this is not 'gen dusty, sorts continue to be much' n -4-d. per lb. in these haS 13,7 , 0 prettY ; ;pr the whole, there is so little change tc the general useful qualities if An resume our quotations of last weep Uplands, 7d. ; Mobile, 74-d.; and Or mittee of Brokers place "fair" Upla and Orleans, 84d. SuratS have be wand, but there is no quotable change to notic, va l ue . Brazils are firm, at full prices. Egyptiam but freely offered for sale, at previouS prices. American and 10 Surat are reported to have beervtaken or. speculation ; 1,660 'American; 3,700 Surat, 20 Madras, 200 Pernam, 120 Maranham, and 30 Bahia, for export ; so that the deliveries to the trade for the week have been 36,800 bales. ,a of ,I : l6th pe . r lb:, elen very Although there was very little business doing in the Liverpool Share - Nia4et ,to day,. there was a decidedly better tone, and prices left off at an im provement. The transactions included—Chester and Birkenhead, 73 ; 1 ; East Lancashire, 941 ; Edinburgh and Glasgow, 721, ; Lancashire and YOrkshire, 954 ; London and North-Western, 64, 3H ; Manchester, Sheffield, and Lincoln, 35 Grand Trunk of Canada, 8.4,'7-16; -I; Great Western of Canada, 141; Borough Bank Promissory Notes, 24 months, 974, and Magnetic Telegraph Company's Shares, 13 15-16. ted, and a decline o, ally conceded. Upon notice in the v:lne r- o ; of American Cotton, that we I qeing "middling" The Com- _ s, more moderate de n their THE HIDE TRADE LIVERPOOL, August Z. SALES THIS WEEK. HIDES.-3,766 B.A. salted O Hides, 48 to 61 lbs., at 84d., tare 4 and 5 lbs., heated in proportion; . and 2,430 TN. to Vid., tare 4 and 5 ills.;• '460 B.A. to 58s. 6d ; yellow, 53. 548. 3d. per cwt. 43.5 tons Bone Legs,' £4 12s. Gd. to £4 15s. £4 is. -M. to £4 10s. per ton. , Drvinivi.-50 tons Rio Hache, 'at £lO IN. to ton. 8.1RK.-76 tons Oak Bark, £G ss. to £7 10s. common, - We have received the following pondent, by the Brazil /mil OS . AYRES, June 27.. the arneu b~innbut litt advanced rapidly but stocks being low, holtle nation . to sell without skins; averaging 91b. to 101 b., at 56 real MONTE VIDEO; June 30, PERNAmBuco, July 16. - Hides scarce, at 260 rein. per lb., equal to 7 43-64 d ` -.- ---.40 , - TIN The great rise .haS rather checked the demand, 3melters, however, do not show any anxiety to sell. LEAD : No change.. COPPER : A rise - was anticipated in this article, but none is yet announced. Smelters will not take orders, except for immediate delivery. ZINC : No transactions. SPELTER : Market quiet. Tho following appeared in a portion of our impression of yesterday (From the Daily Hem City Article.) THURSDAY EVENING.—The Flinch to-day were very qui e t. _ . . _ _ . scarcely any variations "occurred,; and the closing. quotations were the same as those yesterday. Afavourable impression was produced by the additional proofs afforded from day to day of the present desire :of the Emperor Napoleon to reassure Europe. The tendency to firmness' was also promoted by `Z900.000 in gold and Silver pt about .£150,000, and ither from Australia. the enormous arrivals of specie has arriVek all for this country, exC India and Russian loans will be the two next grea financial operations. tauluauu Jul money continues to be experienced, md an advance upon the Bank minimum is asked in many _Ube business at that establishment • continues The steamer Teviot has - arrived from the West Indies with nearly £600,000 in specie, the bulk of which consists of silver. The steamers; Vigo, Arago, and Weser have • . , arrived from New York with £200,068 in specie, the greater portion of which is on French' account. The_Avon, from Brazil, has brought £32,564 in gold. (Front .the Tintes City Article.) THURSDAY EVENING.—The probable_ character of the transformation of the French army and navy from a war to Ls now to be well miderstoo, Fore, notwit Uonsols; there ,nstanding the pacific `announce ments daily received, remain without any tendency to im provement. The demand for money has been rather less 2ctive this afternoon, and atthe Bank there was a falling off the applications. The mercantile bills maturing to-dav 'the 4th) have been remarkably well met, no case of cm.: e slizhte3t impc once having transpired. There were no bullion operatio at the Bank to-day The , £43,000 by the Etna has been ,taken for the Coutinnt RAIL' Yesterday Great Northern rallied I per cen stock recovered 3 per cent. The Lancashire and Yorkshire advanced 1 per cent. Great Western closed I hover. East Lancashire dividend declared 4 . 1 per cent. ul the A MANCHESTER. SHARE MARKET, AuGusr.s. Great Westerns, 581 ; Down, 22 1-16 ; Midlands, 101; Trunks, 8g- , , Leed MANCHESTER TRADE REPORT, AUGUST 5. A very firm and steady Market.. No change since Tues day last. ' . . BOROUGH HOP MARKET, AUG. 5. Our market continues in a most 'depressed: s • prices rule nominal. Very favourable accounts still come to hand from the plantations, and the duty is freely backed at 4260,000. LONDON CORN MARKET, AUGUST 5. • Weather continues splendid. Liberal supply of Foreign Wheat and small of Barley. Attendance of buyers very small; sales of Wheat limited ; prices 'not lower than last day. Barley Was dull Without alteration in Value. Oats rate demand at Monday's prices. Norfolk how in value WAKEFIELD CORN MARKET, AxaysT 5 prices ; other sorts rather lower !reels /el )then art K CORN ARKET White N-vii;;;‘2-I;is--o-at;,--1-4-;-t-o-11-4.s • GLASGOW IRON Market steady. No. 1, makers to 628 6d ; warrants, 62s 6d to 52 , , 9tl, 3TARKET.---A - nr.-c,T .5. iron, and No, 3,52 s 3d . The saiaderos were. inactive ; slaughter during th e month had been estimated at 20,000 head. Sales of salted ox and cow hides were 25,000 ; prices opened at fifty reals, and continued till the arrival of the mail steamer,. when the imprcved pro4pects in Europe indr , orl purchasers to come forward . freely ; and - there at fifty-six reals, bnt as high as fifty-seven had been refused by one of the few holders. were about 2,000. Salted horse hides wet, quest, and nineteen reals had been refused; •, 9,000; no stock,. The market for dry Ox and Col Hides also received an impetus by the advices fror Europe, and buyers were coming forward freel , German classes opened at 65 reals, gradually a , yancino. to 67, at which rate there were still le being reported t half e in r is evinced little incl further. advance amounted to 12,000. Mediterranean Hides '';ee' sold early_ in. Ile month at 54-1 reals ; last quotation, ,:56 ; for this destination and Spain about 15,000 changed hands. Low weights and Calf- arrived to-day, with dates to 25th May, from Eng land. Salted Hides will now command higher rates, whereas Dry Hides must fall considerably in conse quence of low prices ruling in the United States. Salted Hides have been sold to-day at 83 reis. per 75 lbs. Exchange steady, at 40 d. per current dollar ; transactions limited. STOCK.—Dry hides, 15,700 ; d►y horse do., 500 ; salted ox do., 800 ; tallow, none ; hair, 40 bales ; bones, 250 tons. Rio DE JANERIO, July 10. In Hides nothing had been done; for 2,000, held in stock, owners asked 400 reis. Some feW policies of .6 per Cent. Stock had been sold latterly at 107 per cent. ex div. Bank and Railway Shares quite nominal, nothing having been done after pay ment of diVidendS. In Exchange £40,000 was nego ciatedt' on the morning of the 9th ult. at from 244 dis. to 25 dis., market closing flat. Business on France had been to an average extent ; ruling rates, 390 reis. to 395 reis. On Hamburg little had been done, and quotations nomin a l. Freights to England, 255. to 30s. ; the Channel, 30s. to 355. ; the Mediter ranean, 30s. to 355. ; Hamburg, 255.t0 '3os. ; Antwerp, 30s. ; Havre, 40f. ; the United States, 40e. to 50c. MANUFACTURED IRON F.irst-rate brands have ,risen to £6 SS. for common bars. The demand remains good ; bat in Staifordshire no change is quoted. PIG-IRON : Speculati on is quiet, and the shipments froth Scotland. are. lar g e. The market- clnses at 525. 3d. to 525..-6 d. cash, ans3s. three months open. TIN PLATES are ad vance d i n price, and Coke realise 265. 6d. NORTHERN DAILY TIES. TON MARKET.—AtGiTstr 5 ROY At, INSURANCE COMVANY. pilot week in Cotton, and although 'better grades of American are not Thring for sale is so liberal, that The fourteenth annual meeting ..If the Royal: insuia.ncQ 'it concession, bat notsufficient - Company was held yesterday in the - Barra-room of the ' , wet- qualities are irregular, , company, Nerth.ffehn-street •; Mr. Charles Mummer occupied the chair. Among the other gentlemen present theiOvere "i n 4 - lt; and tq effect Mesg-s. Brocklebaak, Samuel liolrne, Italph,•Thomaspgiver, ..er continue of the mail E arle, must be. sub- Wm. - Titherington, J.. C. Corbally, Alderman:Cooper, Hard spinners and Wafter, 3. Yates. Lee, lkiozlay,. Hall; Sze. -V In The Chairman . called upon the Maaager,• 'Mr. Percy M. which , = == • , 1 . Dove, to read the -annual report, statell,thatnotwith= standing the fire losses of the year 1858, which- included r lb., mus s week 3 ably brie I in , 3 yet the rernaininn• losses. fell far belena the•itsual averag lat both 3A , etlier proclueed a ess in I provortion to the premiums rec 1 1 the company' s do*ses during sc ived, than the average of Arai preee - ding years; It drew .attemion to the gratifying fact that fae — ex . 'pansion of Igreat, • —1 business w as so that the increase alone .of the last three vents exceeded th?. entire buiiness of sonic of the existing, and of many of the recent defunct, fire insu- rct q ranee mpanies of this: kingdom. There .was shown an nerease of premiums, for the last three -.years, of . In the London branch there was, during the largest advance th a t h a d ever been :made in re rezTnnes, there beim ecl oar In increase, alien compared with 2s. lid. The profit for the same W LSO been vex satisfactory, netivithstaiidi s made on the co:npany from th j e'extensilfe fires at St. Katharine and London Docks, as well as =at Fresh Wharf. , In Scotland the company were also successful, the Three vE Niarch 1 ion mo. of the Year immediately sing, and promis•ad to be of was a 'matter of gratifieation to inc3ted with the Anicrikan bran3h is proceeding most satis4ictorite tends in the "--1- ars bit the Anieriean Coathunt lest estimation in every city on lore it has establidhed as an exceptio; .a bninch year, in which. 7other shahe were• reminded of the .company's losses in •tiymer in transatlantic risks. It was to be regretted: that an injudicious .reduction of the rates of premium had taken place in. many of the cities of America, and Canada.. It was, . _ satisfactory to add that tl • ae six expired months of the present year, whilst they did not exhibit such a ratio of profit as in the last year, yet left a full average of result : on the right side of the account. The two branches together —the British and Foreign" and the " American"—would be found to produce a larger amount to the credit of • profit and loss than in any former year, showing together, includ lug interest, a sum of £59,020 175.. 6d. In the life depart ment, the amount of nett/ life premiums received last year was by far the largest received in any similar period since the eommencement of the business. This unusual influx of new litsiness to the company clearly showed the increased confidence of the public in the establishment. The directors, having given full consideration to the state of the accounts for the yeArunder review, recommended, on .this occasion, a, dividend of 3s. • per. share,- and a bonus of 4s. per hare, tozeth, , • 'ome-tax.. They also resolved account a sum of £30,000 , to carry f - ;•onz the profit and 1 L_ to the r \mien would make the amount to .the _edit of the latter account.Xl4o,Bso. - The report alluded to•the extensive. fire that oceurred at Valparaiso, destroying a large to part of the city, an d b y w hi c h t h ey h ad b een put a - considerable loss, the greatest,. indeed, that ever the company sustained. :The rep-DA concluded by a-reference to the many testimonies that were volunteered from "eta& respectable offices, to the fair repute of . the . Royal Insurance Company, which .with the care that. was taken in the selection of their llsiness, .gave encourage men t t o ' . - qTlticipations of the pro" experienceo £he lii ie rea, future and increasing profit. The MANAGER, then read th which The 1 ' of th as productive of tomcat of account ;, after 4AIRMAN said it was very_pleasing to the directory Atoyal Insurance Company to be able to meet their shareholders with such .a report as they had just heard read, It would be as gratifying. to them and the shareholderS to hear it, as it was to the directors to make it. They would have gathered from their - report the great increase of their life. business, which had amounted to about fifty per- cent: of the *hole of . the -business, Aud, which had ex:tended' ip almost egnal ratio ; for it was a 'matter, he thotight, worthy of rerahrk, -- that the increase of their business did not arise so Much from large timo,unts having been tak en froai one risk, but principally and almost entirely to an increased number of moderate riles. Their progress in, L on d on ,- Sc o tl an d , 'lreland, and !Manchester, had been alluded to,in §omedetail, in the rbport; and this was 'another proof, not only of the Wide-spread area of their business, and the elementS of great safety, but also some proof, he trusted they would think, of the care with which their business was conducted,' and by which alone they were able to fix themselves firmly iu these. new places, and by which it was with advantage the company 'could eitend , itself. 'The American business he would. also •allude. to in a very few Words. That business, they would: recolledt, for many years after the''fermatiOn of the company,' was attended' with considerable • less. -Latterly,• it had been remunerative. But he thought the :improved position of affairs had' been in ' great degree owing' to the great pains and anxiety with which 'that hasiness had been conducted.. At the same time, he unite concu r r e d w ith the remarks in the repoit, that it was a husinesS Which "reipiited very vigilant watch-ing, . particularly when they saw the' new turn of affairs: which had taken place in that country, by the reduction of, the rate of premiums, whielrwould'take great care on the part of their direCtors to watch. • As regarded the fire business, the figures would at once show that a very great increase had taken place. • The number of new policies had increased during the last ten years from 93 to 832. As one of the best proofs that could . be' given of the increase of business, he might state, as an agreeable fact, showing the gigantic and rapid• strides that the company was Makino., that the number. of 'p o li c i es . re j ec t e d i n 1853 cons id erabl y 'xceeded the whole number of policies which theywere able 'ebapt in,!18 , 43. This clearly indicated the necessity *of 'icrease to •their reserve fund, to provide for those —ies .fir' which the business •of • insurance was .unavoidably liable. Serious fires had occurred in the London iii Valparaiso, and elseWhere; , which would some .now that they were not exempt: from `calatnitieS 'of this attire, The ..total loss in London was not • very large, but 'ley would bear in mind that these fires might have been 's; considering the amount bf Ask in those localities. lie was not afraid to ~ne loss in these places might, in the aggregate, have mounted. to several hundred thousands of pounds sterling. lie therefore honed they would approve of the step the directors had taken in adding. £30,000 to the reserve fund. It was 'very gratifying to the'directors to be able to propose to the shareholders an increase of ls. to the bonus, Making a bonus- of 4s. in-addition to the ordinary dividend 0f . 35.,. making a dividend of is. This, the directors reecatmended with confidence ancl.prudence, thinking it an amount- which the shareholders might very fairly receive. Considering, that the, very large .fire at 'Valparaiso had been paid,"alid having,stili a large margin to carry over to the reserve fiend, he thought was: a . circumstance which the Shareholders would be gratified- to hear. He did net know of any other reTnarksdie had •to make, , but he would be glad to answer any questions which ails- gentlemen present might choose to put. lie concluded by moving that the report just read be adopted. . : • Mr. BROCKLEBANK said his duty was a fOrthal one; 'and after the lucid statement of the. Chairman, in addition to the .re;or.t . .. as . to the mode in which that company was worlcA, in w.iich he cordially concurred, he had not much no believad there never was any company, whose stood in a more 'favourable position, than the L'!3, of the ßoyal Insurance Co;npany. It was 'lO to the assured, that, whatever business they 'ititahat.eorapany, 1 7 . 011111 be doiie in a satisfactory these...few.word3,_ he begged to second the -/?ert .be adopted. r irliungliusband, the emmii.MAN stated I laseyear, the reserve fund wag ,£105,000, loss •was £27,00.0, which Made a rthr of . £13'4,0130. : The, fundS were, in. effect, 'the same, omy Aifferene denoininati ens.. Tit ey, were anaWerahle fir the "ompany. Tlie Profita.n. dloss ;and was first liable case of. Joss. 'The reserve fund,. he o call pi;im it; . property state that secueitie3 th • enormous I - 11 , 4greect with the ehnirruan - eomPlete l 3 c in. reference to the - inerease of the reserv( ,ecl' .1 hlrtlic ' ° n?I, ) PPY, whit appeaied • . Lere would not be a single hesitation uLt proposed to be carried ov'er. ,ffe and, judging from the bisinclss. of ng by such rapid . strides, !entml that they shouM Re _, cne reserve fund'should I; .-009,000, so as Le ferl:l a. safe guard and a proketion to the sliareWtlers, anti so that they Would be able to meet any of those casualties which all ins uranc e companies we're liable to. The re was another y point. R e o b served in the .state m ent of accounts that there was £20,000 Ru t down for the b u ildi ng - the were now in, and the one I n London, If h e reco llectkd.nghtly know w the -g. aunt coesiikr to be !e..7cperidedliin that and the London l .building was •siniething like £50,1)00. He begged the '-board to believe ;hot lbc Vas(4ot tiftking any. , objettiens 'to the - cause - whieli Ihny "thought proper to pursue, because he went with 'Them to - a largu extent- on the necessity -ef -reducing" the 'cOritl , of their.; building, and that something like a fair - and - tangible amount should, be fixeill•bnthe 'thought 'the r e -Should be . a limit placed on that amount. As the amount had been put rather beyond what was Considered necessary, the hdped that board would in fiiture 'leave it at• such a sum as would place them on a fair footing not .only with .respect to. that ,but other build ings, and have a fair return , ef rent for :such portions as could be let. The CRAIRMAN said the amount that 'had beef expended on that building was £30,000, which had been reduced to £1.5.000. With regard to London, the amount - for their building in that place was £34,000, which ,was reduced to £5,000: The building in London, they were not able to let any portion of it. Mr: Mon, - ny asked if it was intended - to leave the amount as it then stooil, or to make any reduction hereafter. The emmamAN-could only-say that they had no present intention - of reducing. it. Looking, at what had been . taken off then, mid considering that the building stood at a fair and reasonable ainonnt, he coniideied it was not called for to propose anything further Mr:Coornu said, on a former occasion; ho drew attention to their American business, -and urged the great necessity of caution with reference ..,to it. Last year had 'proved that necessity. „ They had had a .considerable Joss at Vali and it would be highly satisfaCtory to know t that loss. He could see no Objection to the directors giving the information. i_The amount - of the loss had been stated - • out of . doors, and the 5 h.,,0, - was the act aal loss sustained lime. had arrived when they ou partiellai-s of it. The C .e amount of iflAUtsiarr said there MS no objection whatever in answerinz the queition . of Aiderman'Cooper. The amount was X 22,00- . - Mr. Cnourt said it ha.d been stated out of doors as much from the chair The CITAITt:IA in too many (1, questions of that nature there, was no cliff The motion for the adoption of the and carries •epprt was t. . . . . . .. . The CHAI MAN then moved tte next resolution, declar ing the dividend as mentiohedin the report Mr. JonirsTo - gu said he had much plcek - are in seconding the resolution, which had just ,been proposed. Looking at the amount that was carried to the credit, side of the account, he had no doubt some of his co-shareholders thought the threctors . had been very cautious in carrying dyer So ,small f a shin to the reserve fluid. When they looked at the large and extending operations of the company, extending as they were to every quarter of the world, they would agree with '4in in saying that the -, (!tors hay' - Tile motion wa .ction to tt ferred to by in all wouldlose oue farthing" y, and he c no 4n +1 impression tl very sew caret shown a wise discre- occasions divided tion in diiriding so small an amount on this occasion. The holders as was 'comp,_ amount they had derived last , year from th e " . B r iti s h an d and they were always foreign" brtsine ss wa s a ' little more than £B,OOO ;of course, met with the approval irrespective of the amount derived from the United States, shareholders. He must re, which was the .largest amount of their. profits.., But on all occasions what they coi. they must alsa bear in mind that they had had losses of the company,.and ghat prssperity in that nart of the wnrld Tn 1,;.* le approval of Mr. Mozh ' , mark that thi only to consider last year's profits . fi.em America - a s been carried out by the mana gti ... a sort of a loan. Wh en their . accounts Were made up as the able andjadicions manner in wh they would have a larop.rinaniint .nf ..;,,t: - ...,, A , .a. a— .1 • , the manner Emu utuscancting been carried out by accounts, and,:it was nothing but:. common -prudence that `concluded by moving they, should have a large reserve.fund;„and, as Mr. Moiley Mr. COOPER secon had observed, as their business went on increasing, the _unanimously: reserve fund should also go on increasing in the same ratio. When they had . put their foot forward, they ought, ai a bdsin rule, never to draw it back again. When they - increased He thought their dividend one year they: ought to:be able to , increase-it had none of t} the next, unless that some nufortunate, circumstance might instil, — occur to prevent it. He thought they ought never to their shareholders an . ' increased dividend• - •mvinced tl ' fir. DoyE returned thanks ar but a reward .ations ant here w - would he favour of the peon: amount :I xi to the .; The meeting,theii broke up -4.--- COURT OF PASSAGE (BEFORE ,The quart( Yesterday, in the there was one spe CLAIM ON A arguni /Mini Henry Walsn, is RA.DCLIFFM S BALA. *ought .t neared' foi the plaintiff fencian ho statedthat, in January, 1858, he saw tl told him that he had just been made a would be required by the went to the official assig rupt's_hooks, which. were in a 1; derendant that if 1 those .owed by it agreed betwdenthe ilaint Olney to post up thuboot then to make out • the bal attendanc complete the work for X5O pay him then; but, as a' cle £lO on account "of irregular ; id after 10/1 ; itry - is of WL had a very (4-e this moi ow. at a r ;lance of b I the trale in - i\Thc of ld. to 2d. Der while Oats clef was quite I and may b per quarter The arrivals from Irel Piave beell fair of oats, kat ports we lave received .6, beans, 3,761 quarters Indi The exports in the same ti 700 quarters Indian corn There has bees little doiiu .days, the weather being ul 519 sacks vest operations, which are now pre Peas.very quict, at last Monday' 48s. to 50s. ; hog and grey, 48s Englisl s rates. 38: r i. to 42 Floating Cargoes : Sin last Friday 13 - - vessels were reported lirrived at ports of call,, viz., 9 maize, and 2 beans, The latest sales not repor were, riaize, .Ibraila, 275. 6d. per 4801bs. ; Odes r , was sold at 425., another at 41s. Gd. per 4921bs Odessa, 425. 6d. per 4801b5., another cargo ditto a LONDON WOOL SALES.—AimusT Public :;.des held to-day have been Well atienl home and in.,?ign buyers. Biddings have rnlnr d coastwise since Tnesdal ~- luarters - eat, 424 quarter uai and 4 7 485 barrels flour 7 ini?rise 425 quarters wheat, d 150 barrels flour: in the trade during the past few in the whole favOurable for har- Atiden ae rates to, in some instan LONDON CORN MARKET.-luQusr• 5 LONDON - PRODUCE AiARKET.—AuousT 5. Strautl--The market has been.dull during. the week; and a decline of 6d. has in many. instances been submitted' to irr order .to effect sales. Refined : This market has Also been. dull. . • CORFEE:—The quantity 'offered in public has been very large this week, and prices have - been irregular, bnt good desirable qualities have about: sustained last week's prices. Tea : The advices received from China were considered favourable, yet the trade have not bought freely this week": prices have been fully Supp, - - has been small. • Rice : A - limited .busin rate mt the amoun- lone, at abou Rum.continnes out of Cocoa has advanced 2s. Cotton : About ,1,000 Saltpetre has' been in li sold at 323. to 40s. this week at emand; refr Spices have gone off without • spirit ; prices generally are unaltered. • • • Drugs sold (in the fortnightly public sales) steady, at previous rates.. Oils have maintained pl . In other articles no mi rally have been auiet this ration. M MIN COR There r to-day; p: Oats of ti geared, few sa s . of New Wheat on 't ere nominal. A few there w AMUSEN TS IN LIVERY morning u All the kb Conqueror prinees4e3, ten at nir„li and queens, own to 'Qu ukes, • ducli warriors, of the pa .llkp's Wax-. Work ( 1 including 1filli; )ria ; also vrinces poets, divines ;" also eminent states ~,rist oted ersol ml present ages , `&e, Allsop's scu n lpture p bgall pwards' of 3,000 statues, selected frol'n all , varying from five to twenty feet in 11( arnie, panoramic; cosinoramie, and stereo containix of the wf Allsop's views of I The above known County the Ay exhibiti London, and elsewhere, magnificent, and•largest es that , cannot possibly be cc the name, u Win. Allsop. ARISTOCR in descril)ix at the Witley Co flowers al copied fro inily-b , v's musical prc forrninz c effects- a are yel and nea a to tlie - ptiblie At aostipert€ . bliOinient in theivorl tradicted. Be sure ff Sole p: Wocestershir ,t, of Lord W; ~ which is apparci ; but the pa thing of the kind we ever saw, duced the most sininle mater d, pieces, the - white is the corn places broken Small, and the bh rangement that is so excellent, 1 Of Lit nery, will have coseX.lo,boo to lay for fou walks 'or h artz found in sof elite. It rich reflects th is bouTrl r Tilt° fished as regards 'ountains week together be mai The church is cli.ise to auu, aitnough the parish . chui:eli, this is being done at the expene• of Lord Wa:.,L Some idea of the expenses incurred may be formed by the cost of the one fiantain, and by-that for the gilding of one apartment—the picture gallery—which is put . at /10,000. The whole of the gut lay, including that for the church, and the furniture for the mansion, is estimated at 4250,000," The attendance of the trade was fair, and the tone calm. Prices of most articles of the trade were unaltered, or tend-. ing doe awards: The supply -of home-grown grAin was small., The imports of foreign grain into Loudon since last. Monday were reported this morning as small of Flour; fair of Wheat, and large. of Oats, ,buesmall of Barley. Wheat,: Englisli held at fast lionday's prices.. Foreign unaltered at last Monday's rates:: English white,' 40s. to 465. ; red, 355. to 433. per qr. ; Dantzic and Konigsberg, 425. to 565. per 404 lb. ; Rostock, 423; to 50s. ; other Baltic ports, 40s. to 40s. ; French 355: to 40s. Flour, firm at last Monday prices. Town, 355. to 435. ; Norfolk, 295. to 30s. per 280 lbs. ;: French,. 30s. to 335. per 230 lbs.. ; Amer. U.S.,—per barrel. Barley slow sale, at about last Monday's rates. English 21s. to 345. per qr. ; Baltic, 245. to 275. ; other sorts, 235. to 275. per quarter. Oats sold 6d. per qr.. under last Monday's rates. British, 20s, to -30 s. per: qr..; Russian,- 21s. to 235. per qr. ; other Baltic ports, 225, to 275. per-qr. Beans : English and Egyptian quoted. nominally as last Monday. _English tick, 365. to 425. ; harrow, 425. to 465. per qr. Yoreign, 40s. to 50s, per qr. Egyptian, 335. per qr. LIVERPOOL ~00l We hare had a fiery < prices of _middling Mid; lower, still the quantity buyers for alt - Qring gizotatinmi.: 3se COI in 18 )pen from mr 'own' min Me to continue that increase: ' =The-1, profit gained, by that company . T. increasing: business, and not, panics, by an abso r pti on of undertakings, taken with. gr liabilities, and with great risks up o n tlicln. (Hear, hea Theirs was a legitimate business and a sound business, in many. increasing,: because the peopleltial: a growing conyktion of the permanent stability.of •the -cOinpany; and :added to he might say,. the untiring zeal of . their able inanan not only hi his - zeal. and but the _ good judgment nagement there 71_MUST 6, 1859• WAS right in net *pending upon a . London 0: po establishing a kindred institution, not only for the hr benefit of the commerce of the port, 'but likewiSc.that might be come th e i r own insurers, and put into th e ' pockets those Jorge dividends that were metropolitan offices. He alluded to the enorra° 3 l which was put upon iiiurers, which, he said, was ab so disproportionat e to the amount in' many. persons of sniall income from and he believed t, " cornpam this dut time had really cc ;hould go together'io j r ti reduced to the smalle, for of the Ex was sure the Cha hoped the a Bail everycmifidence in th were r Tien - propa , qnently id say from I ' g pl d a tO of the Royal Insurance C, heir, ot )mpany n whom he had E Ibre, .h e purpose 0 ;t amount, per mug n,l, ne atteut s for t L goon A which he I Lown . _ the ieleetion - of gerittenien as theirr - agents in 'bther . 65untrx all over the world. Looking at this increase of business, he was perfectly convinced that, 'under prudent management, with the shareholders putting their shoulders to the wh - eei, they would rise to.a point which had not yet been attained Jr any other office in the kingdmn. In reply to' Mr: Hall, .• '• - The CHAIRMAN said the profit at for 111 year.was £59,000, including -. interest. 7 ik:} , better .at,the end . of 1857 than theywere.at th The resolution was carried unanimously. were £33,000 act of 1858 • . . . . The CHAIRILLN moved, that the retrin c ,o• ,directors .he •eeteeted, with the 'addition of Mr., Hyslop, who was •eeoinniended for re-elettion! Mr. TITHERINGTON seconded the motion. thought it was well that. the directors, :who had managed their busi ness so well,,heretofore r should be. re-elected. They wire men whose names stood high •in the commercial. world,-and did not require any eulo,goun, from him.- As one of the auditors, he might remark, that ,there was perfect freedom or access to all the 'boa§ and accounts, and no'one wished to exercise the slightest control Over them. 'And, he would venture , to say, that the company did notiosc £soo' during the fourteen years of its .existence,. while it had : hundreds of thousands of ponndS undoi its control. The machinery - of the company was, in every respect, in good order ; and it only remained for them to supply the - raw material in - the . shape of premiums.. As he had seen inscribed .at Chester, ‘‘. God's providence is our, inheritance ;'.' so, he thought,' God's providence was their inheritance. . They had a very prosperous year. As regards their losses, he was glad to hear- Alderman Cooper put the question in reference to Val,. paraiso, as it had been stated at a much larger amount out, of.doors. £lO,OOO-a-vear was oiven. tire mein Ircini ; and he attri- losses; and, he thouglit,: it was'iwell hated this to.the few losses they had sustained. The mi9t94 was carried unanimously.. , Mr. Bitedimmuivx.returned‘tbanks on behalf of himself and the other directors. out ins batar. t. After tha Defend no. tiine, he told ti -- 0 4411; agicome he went on. with the woi*, le, ; 4n of to the scale allowed by the court. nd I will Eiroltuall which th fendant passed He was.eng and ex nd plaintiff, -sheet, defenc ) ltr. Rove hich was c9'rr great incr ch lie had ,1',71, itude that, contrina t o b:: N Chi e f c ec kiAt"tyc York r'D' Tg PelB,, ' tat,— c trom January to J u The CHAIRMAN then intievrd-' that the - Titherington and Andersoni.be re-elected. . Mr. SAMUEL Hama, in seconding the motion, saidit did Air. not rcq - Are a very astute mathematician to say that 171 per the'Bunkruptcy cent., w.as a problem wbich.was Ye.U7Pieesing to 4well upon. I was according to the Scate He was strick with "one 'circumstance connected with the Mr. Aspinall, on the part of the defen reading of the accounts, to Whieli he beg g ed to call th e the j ury , an d contended that: the:o attention of.the meeting. It was, that there had only been secondary-though t tond that the - ag• £22 paid in law.expenses. That was a most extraordinary, work for £5O, £lO of which wr circumstance. ; , There was another - circumstance still more . , paid ou accou n t, an d £lO h a d b een pa i d in extraordinary,. if he. hea r d 'the, figures aright. The out- Mr. Radcliffe, the defetidant, - was called standing debts reached the _enormous: sum of £l6: • Ile': having had a disputelvith the cleric, he made these remarks not for gentlemenpreseut;. but for more and told him that he wished timid shareholders out of doors:' It was said that the look at: the books, and higher rate of interest paid, so in ratio was the greaterris ; whole for. He .told - hith to 'name a this:WAS generally true,!but he w' -" -1 'to " e corrrt :kr and ,t d that as adautte is a] say- what he w igait . not b e any extras, as he . ~-,- , ~ - ~ was xasposeu toti k."...... the Royal Insurance Company was,. to. a- great 'extent; , an officers, The plaintiff told , him . that . exception te.that, general rule : , H e h a d been connected . with , in a very bad s t a t e, an d' that he must" the company f r o m it s f oun d at i o n ; an d such washis confidence .' the work, and that if 50 - was not . though, in it th a t h e wou ld h o ld hi s shares, in it as long as he lived,' Would do it for that. With th e un d erstar ' and he had effected in it a considerable insurance for one of work was to be done quickly he 'consented"tie his children. He belie ve d th a t it s pr i nc i ples were sound, , plaintiff complain e d of hi s,not , attending as based upon such a, commercial foundation, managed witb he (defendant) complained of the plaintiff prndence and with care, that it offered to ,the insurers the reason. He was not aware that the plaintiff . o on unle ss h e were pa i d the scale allowed by the coin greatest protection, while to the:sh a r e h o ld ers t h emse l ves i t g offered perfect security. He confessed that he felt some tre- The learned assessor, in, summing up,, instructed thW itij pidation when, in the exercise of the 01, •eater.wisdom of the' that the Whole question' timed upon whether there ' ol c he chairman and the other directors, than - he possessed, they understanding subsequent to the first agreenient, that bs , entered upon the transatlantic risks ; and he knew that many - plaintiff was to be paid. according to the stale allowed .of the shareholders felt a cons id era bl e t rep id at i on when they the court. If .they were ,of opinion that. th ere was thato;bat Contemplated the risk in the , ailed States, in -South d erstrindin, they would find a verdict for the plaintiff , th e America, and various. other foreign parts. But h e w as 'if they believed that there was no agreement beyond ~`'.o . :glad to hear the chairman state tt, the whole amount of firat; . rd., that the plaintiff would 'do the work for 4 , `" ' loss .at Valparaiso was only, £22,000,:, and . which had been then they would find for the defendant. a stated at such an enormous amount as to damage the sha res ' I The -jury, after' a:. few -minutes consideration,.. go,' 1 of the compa n y, . They ,must ex p ec t oc c as i ona l losses of an verdict f or the pl a i n tiff .for £4O, in addition, to the .£l O Y'r extraordinary character. He was glad to,.hear the remarks into court. . , . , p from _the chairma n :that they, were going to raise their re- LA - SlrilUND v. Bincti,—The 'plaintiff in this cases . serveefund to £140,000;' and lie quit e agree d w ith w h at M r. William Lashmund, brought a n action to, recover X 0 00 Mozley stated, that. they should be content' with smaller seventeen days' demurrage on a fereign vessel' called v, dividends ; their .present one was 'not to, be grumbled at. Eugenie, from Mr.' James Edward Blech: Mr.- AsP in , t 3 ho To,, raise that , reserve fund he 'would go so far as to add who appeared for the plaintiff, 'stated that his• client was, 00 ; . C25,000, because it was a very small sacrifice to each share- master.of a vessel which was chartered by the defendaw 0 , holder, and it would give the company increased security. the Bth January ,in the present year.. The question l ir t ..., They must, take the average of years for an insurance corn- whether the ship, which took a longer period than spilt pany, because. losses 'were, the necessary consequence of the five working. days to load, was detained by the fault of t o establishment of a company like that. He believed, how- plaintiff or the' defendant. The'charter-a r t 'was . to P; . ° is ever, from h av i ng pa id some attention to the accounts of the Athenre s, .Constantinopl e y ': and Odessa.. p The - 1 1° 0 . e company, th a t the, premiums: wou ld f ar exceed: losSes contained a. clause ts, the,effect that £4 a.day for charter dernurifo., with ; which they should'have to contend, and still would have should be paid for each day after the thirty-five days; au t `r a ilarge and handsome balance for the benefit of the sharehold- the vessel was not loaded in the time which was named, t'l t erg. Silently and steadily had that great company proceeded action was brought for the Temurrage - .. - For the defeno 3 1 , till it had now become one of the eistablished institutions of was contended that the delay in loading was altogether O r s the land. And he was. sure he spoke the sentiments of jng. t o th e plaintiff himself, , who' refused to _receive per every.proprietor in that company 'when lip said, at the same , of the cargo on board, and closed the hatchwa • - Ultimata 3 , 5.. . • time they . were tixankful for that prosperity, they rejoiced the jury found a Irerdiet for the plaintiff. 1 lac that their labouring sister had progressed likewise in a The court adjounind shortly before six o'clock, uuti4 nine weer. . `,his prosperity showed their judgment o'clock this morning. )W made w„'",l,-0 ye that ) do it xequireu, •;„0 !or up — lv ever refuse!' us" tutor Live oa Lod thCy manager were he 11Gild sit had paid . t() t silareilc hat the nent produce simil tie secreta. th- ?Pp Agt ,L ~l ' % 4 0,n - Zi'„! Rill b e 4, 4~ might ,431 - f A AO SP u qROQ ~1~~~•-P, ..: 4141 C -1 • `-',.._ I" , 4t• t% •••tsi Lt o 1, 14 .111 t/ I 'Epp L}oPl • LO T?P'll LgoPAltt tlltl, g . 0 718 ri IA 1y • / 1. 1 , 1 11.1 kn. 4,- ity of tl 11 ihe Jv STERD:%. I7 ssage George`". in the Lis'. nt is Mr. . 'eudant's le necess-a-I_sl r said he id he cook u -0 -.--, • 'dance was. A .e with Lg,ed.in the Ro