The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1856-02-05 00:00:00

LIVERPOOL STANDARD.

COMMERCIAL and MONETARY NEWS.

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MONDAY NIGHT.

TILE tendency of the Public Funds during the week
has been upward, owing to the increasing confidence
in the negotiations for peace proving successful, but
towards the close there was 'a slight depression, arising
probably from the demands for money which have
been more than usually active, both at the Bank of
England and on the Stock Exchange. The high rate
of discount has consequently been fully maintained,
and in some instances an advance, particularly for
loans on Government securities. The Bank returns
on Friday, for the week ended 26th of January, shows
a decline in the stock of bullion in both departments
of £79,209, which may be considered very moderate,
when taken into account with a decrease in public
deposits of £594,034, and in other deposits of £640,692.
The actual circulation of notes has also diminished by
£72,065, while the decrease in the reserve of notes
unemployed is only £38,225, leaving the balance at
£4,874,975, so that, notwithstanding. the present
pressure for accommodation, there is nothing to
impair public confidence.
The return from the Bank of England for the week
ending the 26th Januaiy gives the following results,
when compared with the previous week :
Public Deposits ... £3,264,203 ; Decrease ... £594,034
Other Deposits 12,871,553; Decrease... 640,692
Rest 3,376,632 ; Decrease... 11,420
On the other side of the account :
Government Securities.. £12,636,261; Decrease £1,101,985
Other Securities
Notes unemployed ...... 4,874,975; Increase 38,225
The amount of notes in circulation is £19,298,605,
being a decrease of £72,065, and the stock of bullion
in both departments is £10,346,103,5h0wing a decrease
of £79,209 when compared with the preceding
return.

Similar remarks are equally applicable to the low qualities of
Red and White Deals from the Northern European Ports,
a strong current of popular approbation setting in in favour
of the American varieties.
In reference to the aggregate amount of present stocks,
much diversity of opinion has been expressed from time to
time by the trade, and statements have in some instances been
hazarded by parties who ought to have known better, to the
effect that the stocks were unusually large. That, in parti-
cular, the article of Deals was so greatly in excess of all pro-
bable demand, that a large portion of them were likely to go
into decay in the yards in which they are stored. The entire
fallacy of such assertions will be best manifested by reference
to the subjoined statement of the actual quantities of all the
various descriptions of Wood held at the present time.
From that statement it will be clearly seen that, although
some particular descriptions may be in excess, the bona fide
aggregate is very considerably less than it was at this period
of last year or the year previous. Of the motives which may
have prompted the remarks to which allusion has thus been
made, it is no part of our business to speak. The direct effect
of such mystification on the condition of the market, and
ultimately on the public interest, falls more legitimately
within our province to comment on. Parties at a distance,
who are led to believe the misrepresentations alluded to, have
good ground for complaint, when on entering the market,
either as buyers or sellers, they are painfully disabused of the
erroneous impressions they have been induced to form. The re-
sult is disappointment and dissatisfaction,and they consequently
regret the misfortune of having subjected themselves to the
direction of ignorant or interested guides.
Timber and deals held in stock, in cubic feet, from the Bri-
tish North American colonies, and the northern ports of Eu-
rope, for the years ending first of February :-
1854. 1855. 1856.
Total.. 9,527,655 feet. Total.. 9,333,240 feet. Total.. 9,269,310 feet.
The preceding tabular view of the stocks at present in
hand, while it clearly shows that the .quantities of all kinds
are moderate—under rather than over an average—indicates
also the probabilities of a good trade during the year 1856.
From the prevailing low prices, particularly of deals, which
are lower in Liverpool than in any other port in the kingdom,
and far below their relative value in comparison with timber
in the log, the likelihood is, that shipments will find their
way more readily to London and elsewhere, till the balance of
price and value between Liverpool and other ports is re-esta-
blished. These considerations, taken in connexion with the
fact that the stock of colonial wood held throughout the king-
dom is very bare, give just reason to induce the expectation
of a rise in the value of most, if not indeed all kinds, before
any new imports can be brought into the market. The pros-
pects of returning peace are cheering to all, and even already
begin to exercise a favourable influence on the money market.
Manufacturers look forward to increasing demands for their
productions; these demands being stimulated by the pro-
spective cheapness of food, and the reviving energies of trade
once more directed into its legitimate channels. Should these
prospects be hapily realized, every branch of industry will be
extended and promoted, and in such a state of affairs no room
exists for disbelieving that the trade in timber, forming so
large a proportion of the imports of the United Kingdom,
will share largely in the general benefit.
Messrs HOLME and BLITER, of Birkenhead and
Liverpool, say :
The import of Honduras Mahogany this year has been
considerably above last, and with the exception of 105,030
feet, all the cargoes have come into the Docks here, which,
from the facilities afforded, have become the favourite resort
of the importers of this bulky article of commerce. The
facilities for shipping wood bought at this side is fully appre-
ciated by the buyers, who give a preference to the mode of
business adopted here, the price at which it is sold covering
the expense of loading on the railway truck, or putting on
board a vessel in these docks. The import has been 2,453,709
feet against 2,166,000 feet, viz., 2,348,679 feet here, 105,030
feet in Liverpool against 1,602,439 here, 663,680 feet in Liver-
pool. The consumption has been 2,451,492 feet against
2,196,000 feet. The present stock is estimated at 696 logs,
229,217 feet, against 737 logs, 227,000 feet last year.
The following table shows the number of vessels, and their
tonnage, employed in the timber trade of the Mersey during
the year, contrasted with those employed in the previous one:—
From January 31, 1855, to January 30, 1856.
British America 397 vessels 307,294 tons.
Baltic

434 318,119
From January 31, 1854, to January 31, 1855.
British America .........421 vessels 311,109 tons.
Baltic ...... ...... 69 „ 19,562

330,678

Mr. EDMUND CHALONER says :--

The consumption of Deals considerably increases each year,
and is likely to continue even to a greater extent, as compared
with Logs, owing not only to their ready adaptation and fa-
cility of transport, which enables foreign to enter freely into
competition for freight with British vessels, the ships of the
'United States being now extensively in the enjoyment of the
Deal trade carrying between our colonies and Liverpool, fast
displacing British ships in this respect, whilst the Log is
almost exclusively carried by the latter, but also from the
'yearly increasing difficulties of procuring the Log, the large
trade lately established between Canada, the United States,
and other places, diverting the supplies from this country.
Mr. JAMES HOUGHTON SayS.:—

Although during the last twelve months the country has
been deeply engaged in war, the consumption of Wood gene-
rally does not appear to have fallen off in comparison with the
preceding year ; it must, however, be borne in mind that,
during the greater portion of the year, the money market was
comparatively easy, and the scale of prices lower than those
now ruling, and that, during the last three months, under the
influences of dear money and advanced prices, a considerable
falling off has been experienced. How the consumption will
rule during the next six months it is difficult to say : should
peace be obtained, on the one hand, more activity in the home
trade may be expected, and an increased consumption ; but,
on the other hand, a high scale of prices, combined with a pos-
sibility of lower rates of freight ruling in the next season of
import, may tend to postpone the demand which, under other
circumstances, might have been expected to follow more im-
mediately. If, however, the war be continued, and conse-
quently the value of money sustained, a limited consumption
will in all probability be the result.