The Press.
London, England, 1858-06-19 00:00:00

THE PRESS, JUNE 19,1858.

to keep the market alive for the next fortnight, and tend
to maintain the terms that have been required in the
present week.
A considerable demand for bullion has prevailed from
the Continent during the week. A good deal of it has
arisen out of payments for silver purchased to send to the
East; but the French Exchanges have become rather un-
favourable, and gold has been sent to Paris on com•
mercial account also. The stock of bullion in the Bank
of France must consequently have received a further
addition. The arrivals of gold since our last have been
no less than 1,062,406/. ; and the exports to the Conti-
nent 576,6981., exclusive of 10,5001. to the West Indies.
As the continental demand had to be satisfied before
the bulk of the arrivals were reported, about 172,0001.
in bars have been withdrawn from the Bank ; but this
amount will probably be replaced out of the considerable
balances on hand. About 500,0001. are still en route
from Australia; but the supplies from the United States
are rather falling off.
The Finds, and all descriptions of securities, continue
dull; and the tendency, throughout nearly the whole week,
has been towards depression. The want of business is
assigned as the main cause of this state of things; and
the explanation of the causes of the want of business
is partly commercial and partly political. Private
capitalists are holding aloof from investments in stock
of any kind, in a great measure from apprehensions of
the effects that might follow upon unfavourable news
from America or from the continent of Europe. The
losses of the last ten months are not yet recovered even
by the greatest houses; and the caution which they are
exercising is followed and copied by traders of almost
every other class. The indisposition, therefore, to enter
into mercantile enterprizes of a speculative character
has communicated itself to those whose callings or
capital permit them to deal in stock or shares, and
they are deterred from operating by the same motives of
prudence. This explains the inactivity of the Stock
Exchange, and affords a clue to the lamentations of the
mass of the members of that establishment, that as the
public are not dealing with thorn they are reduced to
dealing with each other,—a practice which is not attended
with any very great advantage. Meanwhile, Consols,
though very dull from the absence of speculation, are com-
paratively steady, the decline in the current week having
been nominal only. Railway Shares have suffered most
for the traffics, which a week or two back promised to re-
cover, are again unfavourable, while the end of the half-
year being at hand it is certain that the dividends will be
less than those for the corresponding half of 1857. Foreign
Stocks are also lower, but with little or nothing doing in
any of them.
Console, which left off last Friday at 951 to 96 ex
dividend, maintained the same quotations in the early part
of the week. Subsequently they declined to 95f to;, at
which they closed yesterday. 'fn•day they closed at 95i
to I, dull but steady. Considerable purchases have been
made in Reduced, during the week, on public account.
Foreign Stocks have been very little dealt in. Turkish
Six per Cents have fallen about a half per cent.; and the
Scrip of the New Brazilian Loan has receded to f to j die.
The fortnightly settlement in Railway Shares took place
on Tuesday and Wednesday, and it passed over without
difficulty. The rates of continuation, owing to the abun-
dance of money, were low. But since Monday, owing to
the causes assigned in a preceding paragraph, there has
been a fall of from one to two and a half per cent. Cale-
donians and Great Western Stock have been the chief
subjects of this decline ; but all, more or less, have been
parties in it. French Shares, however, owing to certain
arrangements between the Government and the companies
with regard to the branches remaining to be made, and to
the operations of the influential capitalists, have rallied,
but they were weak today.
Banking, Land, and Mining Shares have scarcely
changed. Among the latter, however, there has been a
serious decline in Santiago shales, through an accident to
the mine.
Exchequer Bills remain at 325. to 365. prem. The
Jnne Bills, issued on Wednesday, are at a premium of
17s. to 215., notwithstanding the reduction of interest to
I id. per diem per cent.
The Continental Exchanges, with here and there an
exception, are about the same as last week.
The shares in the Atlantic Telegraph Company, 1,0001.
paid, have receded to 4801. to 5101. This price, however,
is only nominal.
The half-yearly meetings of the Joint-Stock Banking
Companies have commenced ; and, so far, the dividends
declared show no diminution in the profits of those
establishments, notwithstanding the abundance and
the cheapness of money and the little demand for
it for some time past. The full effects, however,
of the plethoric state of the market will not be
visible in this way until the succeeding half-year. The
Bank of Australasia, on Monday, divided for the year a
dividend and bonus equal to twenty per cent; and so
satisfied were the proprietors with the management that they
increased the remuneration of the Directors from 2,8001.
per annum, to 3,6001. The Bank of British North
America have divided at the rate of six per cent., and the
prospects of the National Provinci il Bank of England are
such that the proprietors yesterday increased the allowance
to the Directors by 1,000/. a year.
The prospectus is given in another column of a most
promising scheme for extending the system of telegraphic
communicationlwith India, It is that of the Great Indian
Submarine Telegraph Company, whose objact is to
establish a chain of lines from Falmouth, to Gibraltar,
Malta. and Alexandria, and thence, via the Red Sea, to Aden
and India, upon the plans of Mr. Allan, the most effective
yet known. Important results In returns for the capital
invested are a certaintv, from the cheapness with which
the system can he worked, and the business that is sure to
be done. The undertaking is therefore most favourably
regarded in the City.

The Mediterranean Electric Telegraph Company have
divided at the rate of six per cent per annum, for the seven
months they have been in operation.
The Provincial Trade Reports are still satisfactory. A
fall in cotton at Liverpool has rather checked the demand
for Manchester goods, as the manufacturers are firm.
But, on the whole, the industrial occupations of the
country are progressing, while there is every prospect of
a most abundant harvest.
GOVERNMENT OF INDIA.—The private journal of the
Marquis of Hastings, Governor-General and Commander-
in-Chief in India, just announced for publication, will be
a most important acquisition at the present moirent. The
journal commences from the day of his landing, and re-
cords the great events of his government with the impor—
tant results following. The Marquis bequeathed this
journal to his family, and his noble daughter, the Mar-
chioness of Bute, has decided on its being published
now that the question of the Government of India is under
discussion, and requiring that every possible light should
be thrown upon it.
Bin News von THE Bernal AWL—The correspondent
of the Times with the British army, writing from before
LucknoA, says:—" The camp guiders ham manifested
their spirit of avarice and their want of enterprise here as
in Europe. Bad beer is 245. a dozen ; a better quality coats
30s. I paid the other day 70 rupees, or 1405., for a dozen
of trendy of ordinary quality. Gin is nearly as dear.
There is no wine fit to drink for any money. The con-
coctions called port and sherry are ludicrously bad. A
smell tin of biscuits costs 11., and so in proportion, or out
of it, for every article of the few that can be bad. The
beer issued by the Commissariat, or rather sent up by the
Calcutta authorities, is so harsh and sour that it is, I hear,
all to be condemned—a fitting punishment, if the price
came out of their pockets, for the cut horities, whoever they
were, who rejected an offer of Ailsopp to supply the army
with the best ale at a few shillings above the usual price
paid by the Governinent."

FROM THE LONDON GAZE TTE.
Tuesday, June 15.

BANKRUPTCY ANNULLED.—Jscon lauc DM Jowls,
Mark•lane, City, merchant.
BANK RU PTS.— ROBERT CUMBERLAND, Addle•street, Wood-
►treet, fancy goods manufacturer—CHAßLES GARLICK, H gh•
street, Guildford, ironmonger— Nunes! Ror.re, Regent•street,
pianoforte maker JOHN COWEN, Newcaale•under•Lyme,
Staffordshire, travelling draper—Gsoaog 111,1311tRD RIMMING-
TON. Wymondham, Leicestershire, grocer, draper, and general
dealer--Joats LOCKWOOD, Moli•greea, Kirkheston, Yorkshire,
cloth manufacturer—done WILLIAM HOLDERNESS, Kis3ston-
upon•Hull, timber merchant and commission agent-8011CW
EDWARDS, Mold, Flintshire, joiner—JOHN WALL, late of South•
port, Lancashire, carpenter and joiner.
SCOTCH SEQUESTRATIONS.- -ALExsurint Moo and
Co., Bank, New Cumnock, coal masters—Tnousit WEDS, ISIS
of Stratford, near London, now at Fort William, InTeT111011W••••
GEOROE CHRISTIE, George •street, Aberdeen. grocer— GALLowst
and LI/MSDRN. Glasgow, masons and builders—DONALD CAMS,
SELL. Glasgow, grain slid provision merchant—Davin and
WILLI tit SMITH, Laariston•street, Edinburgh, grocers and spirit
dealers.

Friday, June 18.
BANKRUPTS.—Tnonas J. CLARriON, Liverpool, pu,illeito-••
%TORN MoREWOOD, At6ollll.one, WarWckshire, grocer—Atri-
a/thin W. LAIDLAW, Saint Mary Axe, City, dealer in cigars
JOREPH A. lizacien, Queen's Head Passage. weargate•street,
bookseller-01'011oz H. RIIIIIINGTON, Wymondham, Leicester-
shire, grocer—WILLIAM PARROTT. Leicester•sgnare, bo4t and
shoemaker—WlLLlAM F. STRZET, Austin Friars• City insurance
brok,r—Fassetti H. MAra and ROBERT H. Main, Henrietta.
street, Cocent•gerden. publishers—JAmes Mums futon. High-
street, Bow, gasfitter--BastAxim ROWLEY Wakefield. York-
shire, maltster—Joust F.. WlLictasos and MANY MARVIIL,
Newcastle•upon•Tyne, innkee oers—WILLT 4W 00nORE. Man'
cheater, commission agent—Jolla 0. BoLnv, Halifax, dealer in
small wares—EDWARD BORKINIRAW and WILLIAM HUDSON.
Knaresborough and Wetherby, eumera.