The Press.
London, England, 1858-08-14 00:00:00

THE PRESS, AUGUST 14, 185(9.

week a large amount will come in from Smith America
and the West Indies. I3ar-silver has declined ad., and
Mexican dollars 1,1. per ounce. This is attributed to
the magnitude of the stuck here, and to the total cessation
of the demand from China. There seems now some
ground for the apprehension that the price will return to
the average of 1850.
English Securities of nearly all descriptions have been
firm since our last ; and the markets up to yesterday
were animated by a good tone, though business was as
inanimate as possible. The favourable tendency was
promoted by investments on public account, and by a con-
siderable advance upon the Paris Bourse. It was not, how.
ever, uniform, for yesterday, and again to-day, there was a
reaction, which leaves quotations about as they were this
day week. Speculative sales to realize the profits upon
speculative purchases were the cause. Railway Stocks
have been in favour all the week, and in some instances
the firmness of holders has induced a marked rise in
prices. Holders now are tenacious from a conviction
that though dividends aro generally lower this half-year,
there are all the essential elements in the market of sub-
stantial improvement in their property. Among others,
there is the certainty that working expenses are being
permanently reduced, while the improvement in trade is
enlarging the receipts from goods traffic—a circumstance
that invariably brings with it an amendment in the more
profitable item of passenger receipts. Other securities
have been firm, without much change in prices.
Consols, which left off last Friday at 961 to 1, for
account, improved to 961 to 1, and at one time they stood
temporarily at 96g. But the reaction of yesterday drove
them down to 961 to 1. To-day they opened at 061 to 1,
and closed at 961 to 1 dull. The public investments,
which have been on account of the savings•banks, and to
the event of about 40,0001., have been in Reduced and
in the New Threes. . . . . .

Foreign Stocks have not materially varied, but such as
have changed are lower. Among them are Brazilian Scrip
and Turkish Six per Cents., both of which declined to-day.
Railway Shares are, upon an average, from one-half to
one per cent. higher than they were this day week. The
lines that have most improved are Caledonians, Midlands,
Lancashire and Ylrkshires, and North-Easterns. Great
Northerns are lower, owing to reports of competition in
certain quarters. On the other hand, the cause of the im-
provement in Midlands has been certain reports of its prac-
tical immunity from competition. Great Westerns have
not altered much. Indian Stocks steady.
Banking, Mining, and Miscellaneous Shares were to-
day much as they were this day week, and during the in-
terval nothing deserving of notice has occurred in any of
them.

Exchequer Bills remained, up to yesterday, at 325. to
3,55. prem. for the March issue, and 21s. to 255. prem.
for that of June; but today all descriptions were Is.
lower.

The Continental Exchanges are generally favourable for
this country.
The Atlantic Telegraph is going on well. In a few days
it will be in complete working order, and the communica-
tion with America perfect. The shares have been done
at 950.

The selection of seven members of the Court of Direc-
tors of the East India Company for the new Indian
Council took place in Leadenhall-street on Monday. The
gentlemen appointed were, Mr. Charles Mills, the senior
director, Captain Shepherd, Mr. Elliot Macneghten, Sir
J. W. Hogg, Mr. R. P. Mangles, Mr. IV. J. Eastwick, and
Mr. H. T. Prinsep. The Government have now to appoint
eight members to make up the Council of fifteen. The
Council must be constituted by the Ist of September, when
the East India Company will cease to exist except in a
brilliant and enduring history. The Government have
already appointed that distinguished and most eminent
man, Sir John Lawrence, who is coming home, and it is
stated that Sir Henry Rawlinson and Mr. J. P. Willoughby
have also been requested to join the Council.
The shareholders in the Eastern Steam Navigation
Company have authorized the directors to treat tor the
lease or sale of the Great Eastern.

The shares in the Red Sea Telegraph Company were
allotted yesterday. They are at a premium of to I.
A second dividend of .2s. in the pound has been paid
under the estate of Messrs. Sieveking and Son.
The 'Westminster Palace Hotel will be proceeded with,
more than 7,000 shares having been subscribed. Great
advantages are expected to arise from the contiguity of the
Victoria Railway Station.
A memorial to the Colonial•office on the necessity for
an Australian mail by the Panama route is in course of
signature among the leading houses interested in New
South Wales, Moreton Bay, and .New Zealand. It urges
the necessity of a fortnightly communication, and suggests
that this route is more than ever desirable, considering
the importance of the goldfields of British Columbia, and
by the fact of the completion of telegraphic communica-
tion with America. By this latter means intelligence
might, if this route were opened, pass between England
and Australia in thirty days.
Few Insurance associations ate conducted with more
prudence, and have been rewarded with greater success,
than the Royal Insurance Company of Liverpool. A very
slight reference to the facto stated in the report which
appears in another column will confirm this statement.
The figures speak for themselves. We can only add
that a careful investigation of the documents satisfied
us that the company is in a sound as well as in a pro-
sperous condition, for the two phrases are not convertible ;
and that both in the fire and in the life branch it affords
every possible advantage and security to all who contem-
plate availing themselves of the advantages of insurance.
The Trade reports of the week continue of a very satis-
factory character. The only exception of consequence is
still in the iron and hardware occupations of Birmingham,
Wolverhampton, and Sheffield. But even in them there
are good hopes of revival, inasmuch as a reduction of 10s.