The Press.
London, England, 1856-05-31 00:00:00

tours tarket ant) 6111 4ntrittpace.

FRIDAY Rratirwo.
Tax tetern of the Rank of Enghind for the week ending
the 24th init. shows the following chimps compared with
that for the week preceding :

Decrease in Circulation
Increase in Public Deposits
Decrease in Other Deposits
Decrease in Other Securities
Increase in Bullion
Increase in Rest
Increase in Reserve

Bullion in Both Departments
Circulation, including Bank Poet
Bills
This comparison presents some important changes, the
effect of which the Money Market has already experienced,
as stated below. With regard to the position of the Bank,
it will be observed, that it is considerably strengthened by
the large additions to the stock of bullion and the reserve
of notes. It is in a stronger position to the extent of more
than a million and a half, while by the repayment of
advances in the present week its means of assisting the
trade of the country will present a further increase to a
large extent in the next return. In this view, the reduc-
tion in the rate of discount was advisable. The reserve of
notes now amounts to 5,041,91301, but it will be observe‘l
that the circulation has demised. The addition to the
amount of Public Deposits is mainly caused by the pay-
ment of the deposit of ten per cent. upon the new loan ;
and though the '' Other Securities " have fallen off, owing
probably to the exchange operations, which have rendered
it unnecessary to send the balance of the Turkish loan 6
Constantinople in gold, the Bank has not found i 4 nt *Ja-
eery to part with any Government Secnritie, to obtain the
large addition to the Reserve. In all these respects the
present return is satisfactory, while there is reason to
anticipate that the improvement shown in it will
eootione. The bullion neat week may probably reach
11,000,000 k

•••sep

NATURDAY
Imeemmegimrseire
The ease in the Money Market which was referred to
last week as
haling
given
a yesterday bv
aonaidersbleiinpe"
t
brunches of trade has continued daring the present wslis
and the impression that it is likely to be pro e
siy Pe
re-
ceived strong practiced confirmationtthhe
lotion of the Directors of the Bank of England to reduce
tl°-
minimum rate of discount on all elasses of bills r I
to five per cent. Considering that the reserve of notes
according to the return for the week ending the 17th inB
was only 4,136,6751., and that it amounted to 7,286,8151 in.
September last, just before the rate was advanced ftom
four and s half to five per cent., while the bullion was
12,895,250/. at one period and only 9,198,6151. in the other,
it was natural to conclude that a measure of this character
:
would not be so speedily adopted. Oar own impression
was that five or six weeks at least would elapse before the
policy of the change would recommend itself to the
court: certainly, in common with the most intelligent
busir.ess men in the City outside the Bank parlour, we
did not expect it in the present week. In fact, the an.
nouncement took everybody by surprise, and for a time it
was positively discredited. Today, an impression has been
correct that it has been made too suddenly, and that it
may, unless great prudence is manifested, give an arti•
ficial stimulus to transactions not warranted by the legiti.
mate operations of actual commerce. The effect of the
measure will therefore be watched with much interest.
Putting aside these more general considerations, and re.
ferring solely to the position of the Bank ass tradiag
company dealing with money for the benefit of its shut.
holders, we see much more reason fur the resolution
adopted yesterday. For a full fortnight, indeed for neary
three weeks, its discount business has been uudergoing a
process of transfer, by the natural effects of competitior,
to the Lombard-street houses. Advances on Private and
Government Securities it certainly has been making ; but
bills, and the best class of bills too, have been tak.
over the way, seeing that they could be done there .
one-half, and far some days past at three quartets, per ern.,
below the Bank minimum. Now, remembering how vast
a proportion of the commercial business of the country
is carried on by means of a bill circulation, and the large
profits that fur many months past have been derived from
discounts, it is not unlikely that the directors felt it their
duty to attempt to recover their former position. They
cannot, therefore, be blamed for the resolution, nee-
cially if, in relation to the general circumstances whit h
ordinarily guide their policy, they saw no strong reason to
postpone it. Some such reasons against delay may be
suggested at once. They are, the great influx of bullion
last week, partially continued in the present, the favorable
nature of the continental exchanges, the prudence with
which the trade of the country is being obviously con-
ducted, and the prospect of all, or nearly all, of the gold
that may arrive fur some time to come not being with-
drawn by foreign demand or foreign competition. Besides
these considerations there are others connected with the
essential business of the Bank, one of which is the reps!•
merit of advances, amounting to nearly 1,000,000 i., made
a fortnight ago to meet the deposits required with 'Ali-
cations for allotments in the new loan. Of course, this
amount will swell the Reserve, and the Reserve can only
be profitably employed when the rate of interest is not in
excess of the proper market value of money.
The Joint-stock Banks have all reduced their rates on
deposits front five to four per cent.; and the discouet.
houses gave notice this morning that they would not give
more than 41 per cent. for money at call.
Money has been in fair but not great demand during the
week, and there has been no pressure. Tne commercial
hills falling due next week are expected to be heavy, but no
inconvenience is anticipated. On the Stock Exchange the
rates have been low; they have not exceeded five per cent.,
notwithstanding the occurrence yesterday and to-day of the
railway and foreign settlements, and the approach of the
Consol settlement next we k.
The bullion imports during the week have amounted to
about 350,0001. 'I he exports have been very trifling.
The Bank of England will make advances during the
shutting of the transfer-books, from the 6th of June to
the 17th of July, at the current rates.
Consuls have improved about one-half per cent. since uur
last. Last Friday they left off for the 4th June at 941 to 1,
and for a great part of the week they have been quoted at
95 to 4 both for June and for money. They would un-
questionably have remained at this prise, if not have
gone higher, had it not been that the American advice.
received yesterday morning announced the probable recog-
nition of the filibustering commander in Nicaragua. This
intelligence caused a reaction of nearly one-half per. cent.
But the announcement of the reduced rate of discount
caused a rally, and they finally left off at 944 to 1. Fur
the 10th July, which is the next Account-day, they
..
closed at. 951 to 1. The market is still extremely sensmie
in relation to the unsettled questions wit h the United States,
and there is a certain sense of impatience at the delay !n
arriving at an understanding. Today the opening price
for June and for mousy was 941 to 1, and they closed at
941 to 1, the decline being owing to the American diffi-
culty. After official hours, however, there was more firill•
ness and a partial recovery; for the 10th July the het
price was 951 to 1.
The scrip of the new loam has been rather extensively
dealt in, at prices which have fluctuated in the same ratio
as Consols. Last Friday it left off at 11 to 2 preMi
yesterday at 21 to 4 prem., and today at 21 to 1 prem. 7 :
settlement in it took place to-day. Exchequer Bills have
improved from Is. dis. to 2s. prem.
The Railway ,Market, atter being exceedingly firm al_
the week. each day showing an advance upon the prices e f
the preceding in some descriptions of heavy Siocks. W 5
also very sensitive upon the American news. Laricsslii e
and Yorkshire and Midland Stock, which are am TB
those that had most improved during the week, t 11
nearly one per cent.; but, as in the case of Consuls, ti
unexpected action of the Bank produced a partial recover,
which was aubastpently maintained. To-day she mato

MAY 31, 1856.

was heavy and inactive, without any material reduction in
quotations.
In other securities there has not been any great activity
during the week ; and for the most part they were in.
gueocei to 80.110 extent by the same causes which affected
railways and Consols.
The trade reports from the country are tolerably
favorable. Employment is general in the manufacturing
districts.
The Board of Trade returns for the month of April show
a largely increased export trade ; and they clearly indicate
a revival of those branches which more immediately refer
to our Australian dependencies.

BANE OF ENGLAND.
An Account, pursuant to the Act 7th and Rtb Victoria, cap. 32
for the week ending on Saturday, the 24th day of May, 1856.
311111011 DBI
►iotes Issued .... 144,413,576

£24,413,875
BANKING D

Proprletors'Capi tal X 14,533.0410
Rest
Public Deposita'
Other Deposits . 11,47201
Seven Day .t other
Bills

FROM THE LONDON GAZETTE,
Tuesday, May 27 .

BANKRUPTS.—WIL RAWKR, Great Queen-street, Lincoln's.
inn-tields, builder-01%mA. PAWLEY, Stock Orchard-crescent,
Holloway. builder--Ogoaoh R CAD, H gh-street, Snoreditch. corn
dealer—Jaime WALKER MIN tots, Tunbridge Wells, wamainakei
—Gr;ottoe WILLIAMS, Wolverhampton, paper dealer—Joni
YOUIL, Burton-npot -Trent, brewer—Jawas GIBS RD, ear.iiff,
victualler—CHAßLES 013MBY. Leeds, cabinetmaker —Tnowas
FEARNEROUOR, Dure, Derbyshire. scitbe manufacturer—Joun
ROSE, St. Helen's. miller—Owsx Owe NS, Bangor. dour dealer.
SCOTCH SEQUESTRATIONS.— A. MILK( and J. H. Dirs.
CAN. Glasgow, tailors—W. P. MACKE:nit, Aviemore, Lynvailg,
tackeman.

Friday, May SO.
BANKRUPTS—SA.Ins WALKER NINNES (and not James
Walker Minnes, as formerly advertised), Tonbridge.wells, watch•
maker—Be sus tx RIDGE, Putney, apothetary —0 Emma TIN•
DALL and RANNON Geotios WILKINSON, Great St. Helen's, in.
surtax* brokers—MAlMED QUILTIR, grocer—linicAan
Ps al I JONER, Wbachurch, Salop, ecrivener —Gsosos Vita tc,
BottesforA, Leicestershire, builder—James SEDDON, Liverpool,
sculptor —Auousvus BccaANAK, Plonouth, baker—Geoaoa
BINNs and GODFREY RUINS, Elartaheactmoor, Popplewell•mill,
Yorkshire. cloth manufacturers--CAmiatas SoLomos, Bristol,
outfitter—Fast:mans G). mina BEALE, Gloucester, billbroker—
:

WILLIAM DODDS, Leadellllll-SISOSI: irunfounder GEORO
ROWLAND. Frill, brewer—THomas CRAVEN, Birmingham,
builder—Witmeit HctL, Cleobury, Salop, timber merchant
SCOTCH S N.QU EST RATIO S.—Taoxas J crts ,
Dumfries', contractor—Howl, KERNEDY, end Co., Glasgow,
engineers—Wmarem KLNNIEDT and MERSA/MT KENNRDT, Glaa-

525

Java, 436 to 536. Sumatra, Padang, and Batavia Lind, lie
to 465. Manilla, 44s to 4es. Mysore, 45s to 79s Id.
Mocha, garbled. 70s to to s ; trogarbled, 56s to 626. Ceylon
native sorts, ordinary to good ordinary. 496 to 558; ilantetion
kinds, good ordinary, 51s to 548; One to hue tineerdinory, Nato
no.; middling to good middlit.g, cis to Ti'.. Jamaica ordinary.
4116 to 49s ; good to tine oidiuery, 50s to 536 ; low middling
to middling, 55s to 64s ; good to tine middling, 656 to Os. Oesna
Rica, onlimuy to good orciinary, 476 to 525; tine ordinary, Us lo
ti6s 6d ; tine tine ordinary to colory, tas to Gos Sd. ML
Domingo, 45s to 495. Rosana and Cubs, oreroory to good ordi-
nary. 446 to 475; line ordinary to middling, ors to 6es. 1 orto
Rico, 466 to 61s. Rio, 406 to i6s. La Osayra, good ordbMl yto
middling coloury, 506 to 692.
RlCE—About 1,000 tons Bengal have *hanged hest& this
week, at previous rates. Carolina, iris to 45e; Bongo% fa lid to
12s 6d ; Madras, Vs bid to N 6d ; and Java, tit td to lie id per
cwt. Tnestock is over 26.000 tons.

COTTON—Great iota/ray pr2vailo in Ibl demsad tilt obi
kinds of cotton, and to etfect sales lower rates must be sub-
mitted to.

HEMP AND FLAX—Baltie hemp is that, at 111 to 11l per
ton for Petersburg clean. In Mood.* qualities only a Ranked
business is doing. The inquiry for bat is contiatd to mall
parcels, at late currencies.
V 1 00L—Owing to the late immense importations—About
30,000 bales—and the prospect of large supplies be ng brought
forward at the next series, the public sales hive become heavy,
and the &thanes in prices noticed at their opining has not b..en
s ipported. In the private market scarcely any busineei is
doing. This week'. imports are over i,utar bales.
INDIGO—Our market contitattes very Bat, at the late reduo-
tion in the quotations.
METALS—ticotch pig iron has changed bands steadily, at
78a 641 to 79s 6d. Manufactured parcels rule about a
Rails, at the yolks, el is to Si 15a ; common hers,°:.n
.
to 4 158; slows, single, in London, ill is to 11l 7.6 d;
hoops, fist quality, 101 10a to 1.1; and nail rods,_ 61 10e to
9115 s per tau. Tiu is still SCLI72O—BSAICII at 1328 to 1408;
straits, 137. to 13-8; British, 13 as w 133., and refined, 1322
to 1408. Tin plates are steeriy, but not high. r. 1.0. ooke
Sls to 311. 6d ; LX. ditto, 378 to 1178 ed ; I.C. chin Doak Mt 6d
to 37s ; and 1.X., 42S to 4:411 per box. Lead motes ,tr
a* barely late rates. pig, 261 101 to 271; milled tdamt,
26115. to 271 per ton. Copper is rather brisk. Enghab ti • end
cake, 12.4; Russian, 1201; South America,' 1101 to 1111 per
ton; sheet, Is 2d per lb. Zinc, Sit Speller, en the MA
231 178 Gd to 241 per ton.
SPIRITS—There is a fair demand for rum, at aim* etatine-
ary prices. Proof Leeward., 2s 14 to 2s Id; line 'Mk
2s to is Id per gallou. Foreign, proof to 10 ant net,
is selling at is bud to 28 2d. Brandy contes wog 11116
Sales of Corpse, beat broods of 1646, 108 3d in l al MN,
10. 6d to 10s rod; older, lOs 7d to 118 Gd ; and law le
9s 4d to 10. ad per gallon. Gin, 17 waliarprad. ION; IS
ditto, 94 (id; raw spirit, proof, los 7d; Germs, Os kill 10 Ss Od
per gallon.
HOPS—There has been a moderate assnand for mod Weis of
hops—the supply of which is moderate —at full prima. and
East Kent pockets, 31 to 61 hs; Weald of Kents‘ N toolle ;
&Mini. 21 Hie to 41 .56 per cwt.
POTATOES—The supplies are bessaing less
mo t kinds are rather dearer. rreasst ratatiodiaralint
per too.
OlLS—This market is very inactive, sad primers
Linseed oil, on the spot, 11 11. 641 pat slot Tnoptionlilliiiit
steady. Spirits, at .10. 64 to Sas; sod no" is a• is Id
per cwt.
FALL° 27—Very little change has taw plane In the eiseelw
lions, and the deinaud is waned to ialmediate wants. P.Y.C.,
011 the spot, as 458 9.1 to Cis per cwt Town tallow, 46s
net cash.
COALS—Stewart',, Ids; Hartlepool, 17e 64; Kellee, 178;
ambton, 178 64; Riddell, Its 6d; Hartley, lie ltd;
lts ; Hetton, 168 nd per ton.
METROPOLITAN CATTLE—on Monday the supplies of
stock w.'re seasonably good. yet the general demand ruled
steady. and very little change took plac in prices. There was
an active business done in beasts and • beep .in Friday, and the
'otations were higher. Lambs, nivel., and pigs, however,
were dull. Beet sold at from Is 2d to 48 ; mutton, is 10d
to is 4d ; lamb, Cs 2d to 6s 2d; veal, Is dd to is 111; pelt,
as 2 t to 4a ad per 81b8 to sink toe offal.
NEWGATE AND LFADENHALL— about an 'verso*
business has been doing in these markets, as foll•iws:—Beef„
from 2s 104 to 48 2d ; mutton, is ad Isle Id; lamb, es rod
58 rd ; veal, Ss 64 to ls dd ; pork, is M fir 45 ed per filbe
by 'he OST(11"111.