The Daily Times.
Liverpool, Merseyside, England, 1860-05-09 00:00:00

of at very_ full and satisfactory prices.. The", Lo-
ndon Colonial sales eolimenoecl onjhe ;id mitant,
i ac the
and with a less stringent iney market, and
French
_Tariff -.l;aving; become a: fat accompli,
,
opened at id to lAd per lb declinn.,on, the MarCh
series—sine which however, and .most observable.
last .tllO4, attendance' has become less
numerous e
er:sin'agnd prices more irregular, in many
instances a decline of full 2d per lb. having taken
giving-wity- —will reduce prices to a
14, :Ppltaie—
rcitywttith . those of Liverpool. Frenchmen are
present in large numbers, and, being eager
buyers, have hitherto been the chief supporters
These sales will contain fully 68,000 bales.
COTTON : The market was quiet during the first
three weeks of last month, and prices gradually
gave way about id per lb. for middling, and id
to d per lb. for the lower grades. The large
receipts and shipments from America, w ith an
already heavy stock here, induced holders to offer
freely, and with such an abundant supply buyers
gained gradually more and more advantage. The
low prices, however, caused more inquiry; and as
the Manchester market improved considerably,
spinners bought very freely. This not only stop-
ped the decline, but caused more firmness, and
an advance of id per lb. in the more current
grades. Low Cotton is still very freely supplied,
but there is less irregularity in prices. The
receipts begin at last to show a slight falling
off ; but it is now so late in the season,
that the excess cannot. be greatly reduced.
The total stocks on the 4th instant were estimated
at 1,016,000 against 403,000 bales last year;
afloat—American, 430,000 against 450,000 bales
last year ; East India, 103,000 against 105,000
bales last year. Total this year, 1,549,000 bales ;
last year, 958,000 bales. Spinners are considered
to hold heavier stocks of Cotton now than at this
time last year, but the present consumption is
also greatly in excess of that period, and still
increasing week by week. East India Cotton
was much depressed during the beginning of the
Month, and holders, who were anxious to sell,
accepted lowprices. These figures brought spinners
and exporters into the market 'as buyers, and
with large sales prices improved id to id per lb.
-in the current qualities. The stock is still heavy,
but there is at present no pressure to sell.
GENERAL REMARKS: The general course of
business continues remarkably' steady, and during
the past fortnight increased activity has pre-
vailed in several of our large imports, which has
stopped the previous drooping tendeney in prices,
and given more confidence to holders. The
operations in Cotton have been unusually heaV7,
the sales for the four weeks amounting to
270,000 bales. Tea, after remaining stagnant
since the budget, has experienced increased atten-
tion the last week or two. Sugar also seems to
have turned the lowest point. Coffee is 'in a
fair position, and good qualities wanted. Jute
and Saltpetre took a jump in value on the
announcement of increased freights and addi-
tional duty 'on the latter, somewhat, greater than
could be supported, but neither article can go
back much in price, the prospects of supply being
more limited than usual. Rice, in sympathy
with the corn market, has steadily, though
slowly improved ; whilst the diminishing stock
and supply place it in a good position for holders.
This partial revival in our produce markets has
been caused by the returning ease in the money
market and by the favourable change in the
weather. A clear bright sky'is not without its
influence in exhilirating the tone of commercial
feeling any more than the dark gloom of a
November fog has in depressing it ; the more so
at this time as exercising a favourable influence
on the coming harvest, which seems to be the
centre of interest in looking to-thrfuttiFF.---
MONEY.—The moment the cause of the sudden
drain on the Bank, and the consequent drop in
their reserve of notes, was found to be the with-
drawal of a million and a-half of notes by Messrs.
Overend & Co., the apprehension of pressure
ceased, and the rates of discount in the open
market subsided below the Bank minimum for
best paper. Does it not seem strange that, '
by
the action of one firm, the whole mercantile com-
munity should be thrown into a state of uncer-
tainty and alarm, and be made to pay 25 per
cent. more for their money accommodation ? but
is it not still more strange that a system of cur-
rency, with such elements of uncertainty' and
danger, should be considered, by its supporters,
as the most perfect that can be devised by human
wisdom, and be viewed with such indifference by
the commercial body that no effort is made for its
modification ? The fluctuations in the Bank
returns are worth reviewing. On the last day of
January the rate was raised to 4 per cent., the

bullion then standing at £14,900,000, the reserve
of notes at £6,800,000, from that date both items
steadily increased to the 21st March, when they
stood—bullion £15,300,000, reserve £8,700,000 ;
thus showing seven weeks of steady, uni-
form improvement. On the 29th March
the Bank suddenly raised the rate to
41, and again the following ' fortnight
to 5 per cent. ; their reserve of notes in the mean-
time having fallen from £8,700,000 to £4,900,000
in a manner quite unaccountable to the public,
but who saw, of course, that if such a drain con-
tinued another fortnight, a most frightful panic
must be the consequence. Stop it by raising the
rate, says Lord Overstone ! But what rate could
stop other discount houses from following the
course:of 0. G. & Co., and withdrawing:their own
funds to strengthen their own position, since they
could get no assistance from the Bank ? and had
they done so, what would have been the position
of the Bank if only £4,000,000 of the £13,000,000.
of deposits had been abstracted from her coffers
by this means ? Suspension or Government inter-
ference must have been inevitable, and a state of
confusion throughout the country, even worse
than '47 or '57, with every element of individual
and national prosperity in the soundest position,
and in the fullest activity. Surely a danger
escaped will lead to some modification by the
Bank to prevent its recurrence. Rates of discount
are 43 per cent. for short paper, to 5 per cent. for
3 months; 51 to 5 for longer dates.

Zte Agricultural Vf.°hate glarlitt.
The Liverpool Agricultural Produce Market
.a-day ruled as follows:

e. d. e. d.
Hay, old
Ditto, new
Ditto, clover 0 0 ... 0 0
Green Clover 0 0 0
Vetches 0 0 ... 0 0
Straw, wheat
Ditto, oat
Ditto, barley 0 0 .. 0 0
Oats, in straw 0 0 ~. 0 0
Potatos, flukes 4 5 ... 4 7

s. d. s. d
Potatos, kemps 0 0 to 0 0
Do. Seedlings. 4 3 ... 4 4
Do. whiterocks 4 4 4 6
Do. Balshaws 0 0 0 0
Do. Beldrums. 0 0 ... 0 0
Do. cattle
Turnips 0 0 ... 0 0
Carrots
Mangelwurzel3o 0 ...35 0
Manure 5 6 7 6

placedoutaclot
lef:i:ttoihFwo nais.
gates of f reiglit.
Freights are fully 2s to 3s per ton lower for
India and China this week, and vessels are only
less demand for tonnage. Homewards there are
difficulty, as there is considerably
but few charterers, and our quotations cannot be
exceeded. Timber freights are firm, but the quo-
tations are considerably lower, and in consequence
several vessels are leaving
: here unchartered,
expecting to get better rates at the port of load-
ing. Rates to United States ports remain with-
Theg
dBa. r. .e.
stl .
6114 e 6.
Tr
ratesof
ebTizoo n
dfer e. i.
........... .
..
18 0
.0M LIVERPOOL OR EIRIigENIIEArD7
.16.7 dt:
... 8.0 d.o
16 0 ... 17 0
To
18 0 ... 0 0 Sinope
Malta
Trieste
15 0 ... 16 0 Ancona ***************
16 U ... 0 0 Ragusa .................
Corfu
Smyrna
17 0
nominal. Venice ............ 19 ii)) ..
00
(0)
Rhodes a lel ........... n. 0. rn. .. : 16 0 : : 0 0
Ve„rna
14 0 ... 0 0 Genoa ............... 17 0 .:.
Gibraltar
0 0 1
0 0
1 0 ••• 17 0
18 0 .. 19 0 St. Thomas ...... 19 0 .., 20 0
Ilavannah •
16 1..) ... ,17 0 Rio Janeiro ...... 29 0 ••• 30 0
Cardenas
29 0 ••• 0 0 '
40 .0 Cape of G. Rope 32 6 ..• 0 0
BALttet
hvgnehonossr n.
gyres. Leghorn... m....
311:
600 .
...
Constantinople.. 16 0 ...PBearhniaambuco 2B 0 ... 29 0
0,0 itive4,o4 416 0 ••• ; Ri 1 .
BAILS—BRISTOL CVANNEL.,
sitio:tec Video ... 37 6. .. . 400
00
2,55. and ,d par cent.
To GalvesoA
To ILobile (nominal)...
To New York
To New Orleans.

To Pernandina (Florida)
To Portsmouth (nominal)
To Savannah
To liavannah (small cargo) ...30s.
Alextuidria 255.

r•
rk,.. Nt.
..7 GENERAL FREIGHT!.
Is.
d., .r.
d.
ivep!r,ol to Aden
Hong Kong ft
- Chusan
„ Ceylon : Iron
, • R,
0, ',45 ,0 to 0 0
450t000
Ditto from Wales , ..50 0t052 6
Bombay, do O6O ota 0 0
45 0 to 0 0
, : 0 oto . 0 Q
from the Clyde ...'9.5' 0 WI 4 4
„ 'Bombay : Coals .15 0 t&-.0 0
''' Suez 62 6to 0 0
1' Sydney or i ~ • Melbourne i£3 ss. register ton.
~ Singapore ..,
Galle
'
Of
, f Shanghai
Ditto from Wales
„ Calcutta: Saltwithout consignment
with ditto
p, Calcutta : Iron, Engines, &c. ..
Ditto, 'Coals . - -.
!I Ascension, from Wales ... ....
f 9 Fernando Po, from Wales
ff Callao

40 0 to 0 0
40 ,0 to 41 0
50 oto 0 0
52 6to 0 0
;37 0 to 0 0
40 0 to 41 0
47 6 to 0 0
. 40 0 to 0 0
. 28 0 to 0 0
. 29 0 to 0 0
.. 30 0 to 32 6
.. 35 0 to 40 0
Woosung
Liverpool to Madras Iron erc. 455., Clyde 505., CbuSan 555.
Do. Coals 425. 6d.
Do. from Wales 455. Od.

Flag Stbnes..

Liverpool to Valparaiso for orders, to discharge there or at a
Port not North of Callao 325. 6d. to 350 small ships.
Liverpool to New York, Coals, full cargoes, 15s. Od. & 5 per cent.
, Moulmain 755., Teak to U. K. nominal.
Akyab,' option of Rangoon, Bassein, or Moulmain, to U. K. or
Continent, 60s.
Calcutta to Liverpool, 655.; ditto on the round, £5 to £5 55.,
with option of London.
Guano from Chinchas to U. K. or Continent, 60s.
Bombay to Liverpool or London, 475. to 50s.

We are indebted to ,Messrs. Taylor, Tip
for the following rates of freight to the Uni

Pig Iron, Bars,
Rails, &c....
Chemicals and

Fine Iron
Salt

Dry Goods
.

Hdrdware

Earthenware.
Passengers ...

Boston.

Pig Iron, Bars, /
Rails, &c .... j
Chemicals and
Fine Iron ....
Salt .

Dry Goods
Hardwai e

a. d. s. d.
15 0... 0 0

0 0...17 6

uominal.
20 0... 0 0
20 0... 0 0
0 0... 8 0
£5 Os
Nominal.

Earthenware
Passengers

New York.

s. d. s. d.
15 0... 0 0

0 0...17 6

nominal.

O 0...25 0
O 0 ..25 0
O 0... 7 6
£5 Os.
Gross.

?per, and Co.
ited States:—