The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1855-06-19 00:00:00

THE LIVERPOOL STANDARD.

COMMERCIAL and MONETARY NEWS.

MONDAY NIGHT.

THERE has been little during the week to disturb
the quietude which has recently prevailed, and conse-
quently the price of the Public Funds has fluctuated
but slightly, the tendency, if any, being in favour of
an advance. The Bank Directors, on Thursday,
announced a reduction of half per cent. in the maxi-
mum rate of discount, which is now 31 per cent. The
measure had been, however, anticipated, so that it had
no effect on the Funds, which slightly receded, owing
to the advices from Paris of lower prices. There has
been an abundance of money for commercial purposes,
and the prevailing rates for first-class paper are lower
than that fixed by the Bank of England. The Returns
of Friday show a slight decrease in the stock of Bul-
lion ; but is now very large, amounting to £17,764,058,
and the reserve of Notes unemployed is above
£11,500,000, so that there is an ample margin for
contingencies. The Exchanges have also recovered
the depression which prevailed a few days previously,
so that there is no immediate prospect of any further
shipments of spe'cie to any great extent.
This abundance of unemployed capital in the face of
demands for the exigencies of the War, will, no doubt,
encourage internal enterprise ; but many speculative
adventures have been delayed until a decision has
been come to by the Legislature on the important
question of limited liability of partners which is now
before Parliament. The differences of opinion on the
subject are chiefly with reference to the amount to
which the relief shall be permitted to apply, and also
as to the security which shall be taken for giving
efficient publicity to the exercise of the privilege.
These are, however, merely details to be considerd
in committee on the bills, the broad principle of
some relaxation of the present law being generally
admitted.

The principal event of the week has been the failure
of the banking-house of Messrs. Strahan, Paul, and
Co., one of the oldest firms in London, and which has
been brought within the jurisdiction of the Court of
Bankruptcy. It is said that the total liabilities are
nearly 0700,000, while the assets are comparatively
very trifling. The failure is attributed to rash specu-
lation in an Italian Railway Company, but the losses
are stated to so far exceed the whole which has been
sacrificed in this particular instance, that the
affairs will require a very searching investigation. The
principal sufferers are peers and wealthy commoners
of the West end ; the City men of business being
but slightly affected.

Accounts from Manchester state that business there
is almost at a stand, owing to
.the check which the
speculation in Cotton here has received, and the diffi-
culty under such circumstances of maintaining the
recent advance in prices. On the other hand, the
prevailing opinion is very strong that the supply of
Cotton will prove inadequate to the demand, which,
combined with the easiness of the money market and
the prospect entertained of an abundant harvest, will
no doubt render the present stagnation of brief dura-
tion. The Woollen trade is still active, there being a
fair demand, and prices .are firmly maintained. In
the Hosiery and Lace trades 'there is a fair amount of
business doing.
The return from the Bank of England, for the week
ending the 9th of June, ;gives the following remits
when compared with the previous week
Public Deposits. ... £5,417:207; Increase ... £236,039
Other Deposits ... 13,168;985; Decrease ... 113,891
Rest ... 3,11)1,923; Increase ...
1;980

On the other side Of the account :
Government Securities.. E 12,702,488, Increase £24,672
Other Securities .. 12,305,431; Decrease ... H 372.7
Notes unemployed ...... 11,605,775; Increase ... 262,805
The amount of notes in circulation is £19,451,170,
being a (decrease of £28%035; and the stock of bullion
in both departments is £17,764,058, showing a de-
crease •of £25,044 .when compared with tile pre-
ceding treturn.

ISSUE MEPIRTMENT.
Notes 'issued ... £31,050;945 Governmt. Debt en.;on,ioo
Other Securities '2;984,900
'Gold coin & bu11'n.17,056,945
Silver bullion ...

£31,05%145
BANKING DEPARTMENT.

Trap 6,945

Prop. Capital £14,553,0001G0v. Securities T 12,702,488
Rest ... 3,114,923 Other Securities 12,305,431
Public 'Deposits 5,447;207 Notes ... 11;605,775
Other Deposits .13,1664985 Gold & Silver Goan 707,113
7-day &other bills 1,030,692

£37,320,807

-L37,320,807

In our SHARE-MARKET there has been less activity
during the past week, but the late advance has been
well maintained. A large amount of London, Leeds,
Midland, and other 'Stocks is being -taken off the
marketut this settlement, both by thepnblic and by
-speculators. •Local Stocks continue very steady, with
the -shales in them scarce. To-day our market is very
inactive, but the -tone is firm, with _a -tendency to
improve. We annex -prices of business-done :—Cale-
donians, 31'1; Easterni Counties, 121-_; -Lancashire and
Yorkshire, 82 ; London:Stock, 103-1- ;...alEdland Stock,
74; • Copiapo
COTTON.—The market during the ;week has been
quiet and inactive, all parties appearing resolved-to
wait after the recent -speculation, :though with what
object -it is not easy to define. The-aecounts from
America not only confirm the previous-statements of
short supplies, but show the deficienCies to be still
greater ; and it is the prevailing opinion that the
supply Will be inadequate to the demand. Spinners
must, however, be in good stock for the present, and,
though money is abundant, they withhold from fur-
ther purchases. The -week's sales up to Friday
amountedio 38,710 bales, of which 17,060 were taken
on speculation, and 1,940 for export, leaving 19,710
for the trade. Prices are without change, and it is
expected 'that they will go higher. TO-DAY the
advices per the America-were to hand-with accounts
of still diminishing receipts, but they had little effect
on this market. The sales were 5,000 bales, including
500 on speculation and far export, and the market
.closed quietly, without alteration in value. The fol-
lowing is a comparison of present rates with -those of
the corresponding period of last year

New Orleans, middling
C 6 fair
Upland, middling
" fair. ..

1854.
sd.
64d.
5 3-16 d

1855.
6311.
71d.
Giti.

rates of our last sales; good fair yellow have gone rather
dearer ; but middle and lower qualities of gray have not quite
maintained previous rates ; native black and gray have gone
fully as high as before.
Messrs. W. GREAME and Co., in their circular, say:—

At our public sales we had a good attendance of buyers, both
for the home trade and for export. The following wools were
offered, viz. :-4,476 bales East India; 1,674 Buenos Ayres,
E. Rios, and Cordova; 1,472 Russian, Crimea, and Odessa;
1,666 Peruvian and Chili ; 1,155 Turkey, Smyrna, Egyptian,
Mogadore, &c.; 116 Australian, Cape, Spanish, and Portugal;
286 Italian and sundries ; total, 10,845 bales. The East
India wools were all sold at full prices, and for best whites a
further advance of id. per lb. may be quoted. A large pro-
portion of the Buenos Ayres and Cordova sold at satisfactory
prices. In Russian wools, Donskov fleece brought &l. to sp. ;
but for the low and burry Crimea wools there was no demand,
and they were chiefly withdrawn ; from Turkey, Smyrna,
Egyptian, &c., there was a fair competition, and the late im-
proved rates were fully supported, particularly for the better
classes of Turkey and Egyptian wools, for which there was
considerable competition.
Messrs. ABRAM GARTSIDE and Co. say :
During the last few weeks we have had a decided change
in the Wool market; the revival of commercial confidence,
consequent upon an abundance of money, better harvest pro-
spects, and a more hopeful tone of public feeling, has operated
beneficially upon Wool; prices of most descriptions have risen
sto 10 per cent. This improvement is also attributable to
the very reduced state of stocks, and to a moderate advance in
the value of manufactured goods ; at present the market is
buoyant, with an upward tendency, but the probability of a
continuance of this activity may be accurately judged when
the result of the coming harvest can be more correctly ascer-
tained. At the public sales here 10,855 bales East India,
South American, and Mediterranean Wools have been offered.
There has been a fair attendance of buyers, both home con-
sumers and exporters; but, owing to the improved position of
the English market, the transactions of the latter have been
on a more limited scale than of late.
TIMBER.—At the sale on Wednesday, by Messrs.
lioLmE, SLATER, & CROOK, there was an active compe-
tition for Baltic and Canada timber at higher prices,
but holders required a still further advance, and some
of the quantity offered was in consequence withdrawn.
For Mahogany and other Furniture woods there was
a spirited demand, at a considerable advance on pre-
vious rates, and the greater portion was sold.

METALs.—There is little to notice in this market.
In Pigs and Manufactured Iron prices are firmly
maintained. In other Metals there is little doing,
and no alteration in value.