The Press.
London, England, 1857-07-25 00:00:00

THE LAND TRANSPORT CORPS.

THE report of the select committee on this corps has
been printed. The committee think that the terms
of enlistment were not violated by the immediate
discharge of the corps on its return from the East.
They regret, however, that in discharging the men
the ordinary rules of the service have not been ob•
served, as then all claims must have been investigated
and settled prior to each man receiving his parch-
ment. discharge. The committee, however, find that
the Government did notify to the men their readiness
to investigate all claims, and to settle them when
proved; that this inquiry was accordingly instituted,
and still continues. They say :
Your committee cannot quit this subject without re•
calling to the recollection of the house that a time may
come when the services of our artisans may be again needed
for the support and furtherance of the most important
interests of our common country, and that it will depend
upon the opinion entertained by the working classes as to
the justice of the Government towards them, whether those
services can be obtained; they would therefore suggest
that all •the unsettled demands made by the Land Transport
Corps, and the various classes of artificers engaged during
the late war, should be carefully and justly examined by
the departments which employed them ; that no niggard,
narrow spirit should preside over the examination, and that
claims justly made should in all cases be freckly acknow-
ledged and generously discharged.
The committee point out the proved want of unity in
the relation of the Secretary for War and the Corn-
mander-in-Chief with reference to the corps, and call
attention to the fact, proved by Colonel Wetherell,
that during the time the army was in the Crimea the
Land Transport Corps was not under the orders of
the Commander-in• Chief in England.

CRYSTAL PALACE.—The success attending the first
appearance of the Vocal Association has induced the
directors to arrange fora second concert by that able
body of choristers, to take place in the centre transept
this afternoon, under the direction of their indefatiga-
ble conductor, Mr. Benedict. The programme com-
prises glees and madrigals, already established
favourites, as well as several novelties which cannot
fail to interest the musical public.

alonc2 fflathet an 6itg Ptelligenct.

FRIDAY EVENING.
THE return of the Bank of England for the week ending
the 18th inst., shows the following ci.anges compared with
that for the week preceding :
Increase in Circulation
Increase in Public Deposits
Decrease in Other Deposits
Increase in Government Securities 377,857
Decrease in Other Securities
Increase in Bullion

Increase in Rest

41,168

Increase initeserve

23007

Bullion in Both Departments .... 11,640,652
Circulation, including Bank Post
Bills
This comparison shows the present return to be, in all
essential respects, the most favourable that has appeared
in the present year ; for while the bullion and the reserve
are both larger than at any previous period in 1837, the
amount of private securities is less. The bullion proves
to be more than was anticipated, and the same may be said
of the reserve. The repayment of advances, and the

reduction of that item to its present amount, accompanied
as it is by an addition to the government securities, shows
that the Money Market is comparatively easy. Yet even
these satisfactory features are likely to be netaralised by
the state of feeling with regard to India. The public
deposits are beginning to grow, but there is a slight
falling-off in those of a private character.

The Money Market has all the week felt the benefit of
a good supply at the joint-stock banks and discount
houses at the reduced rates established last week; for
though there has been rather an active demand during the
last day or two, it has been readily met without any ap-
preciable advance in the terms. At the same time the
tendency at present is not so favourable as it was some
days ago. This, in a great measure, is owing to the state
of feeling created in the minds of the leading capitalists
by the aspect of affairs in India, by certain unsatisfactory
elements upon the Paris Bourse, by the less favourable
character of the American Exchanges, and by the discovery
of a conspiracy against the Emperor of the French,
which, it is feared, may lead to demands upon this country
with respect to the right of asylum not a little embarrass-
ing. The great consideration, however, is India. All
others sink into insignificance compared with that.
Practically it is the only impediment to a solid improve-
ment in the value of securities of all descriptions, and
the sole obstruction to more ease in the Money Market.
Its influence may be partially conceived, when it is
mentioned that from Saturday up to Tuesday there was
a gradual improvement in all values which by this time
would have been firmly consolidated; hut the mere
breath of a suspicion that the mutinous spirit had
extended rather confirmed by the faint official
denials immediately stimulated the worst apprehen-
sions, and induced speculative and bonii•fide sales of
stock, thus reviving the pressure for money and main-
taining the terms required for it. Not much business has
therefore been done, particularly since Wednesday, under
the Bank minimum. The market, however, is yet under
the influence of large supplies, and in this respect it looks
satisfactory ; but on the other hand it is sensitive to and
excited by anticipations of the next Indian news now
hourly expected. In fact, it is in a state of transition ;
whether for better or worse depends upon this intelli-
gence more, for a time at least, than upon the simple
relations of supply and demand, or any conditions con-
nected with the trade or politics of Europe.
The specie imports of the week have amounted to
about 300,0001.; the exports to quite a 3 much, as an active
demand has sprung up for silver for shipment to India
and China by the next packet. which, it is said, will
take out fully 1,000 0001. Silver has advanced to
ss. lid. per ounce, and is firm. Owing to this export very
little gold has been taken to the Bank this week—under
20,0001. But yesterday advices were received of the
arrival of the Simla, from Australia, at Suez, and she
brings intelligence of the sailing of a number of vessels
with gold on board to the value of more than 1,100,00 W.,
a great portion of which may be expected in a fortnight
or three weeks. From the United States the supplies are
likely to fall off in the present state of the exchanges.
The Continental Exchanges are upon the whole rather
flatter, though in some places, such as Antwerp, they are
a shade higher.
The Bank of France has reduced the rate of interest
from six to five and a half per cent.
Consols, which closed this day week at 911 to / for the
account on the 6th August, left off last night at the same,
being just a shade better than they had been in the course
of the day. On Saturday, Monday, and Tuesday they
stood at 921 and 92, but on Wednesday the speculative
sales alluded to above were made, and a decline to 911
was the immediate consequence. They have been dull
ever since. To-day they closed dull at 911 buyers.
The Foreign Market has been dull. Turkish Six per
Cents. have fluctuated in consequence of a variety of
reports respecting the projected loan for the Sultan, and
they are fully three quarters per cent. lower than this day
week. In other stocks no material alteration has occurred,
but the business of the week has been very quiet.
Railway Shares, after having recovered from half to one
per cent. upon the lowest prices of last week, lost the im-
provement through the same influences which depressed
Consols; and yesterday they closed from three•eighths to
five•eighths lower than this day week. Business has been
confined to the dealers, the public having held aloof from
investing as much as possible, preferring to wait the course
of events in India. French Shares were in demand in the
early part of the week, and some descriptions obtained a
considerable advance; but it has since been partially, if
not wholly, lost.
All the other markets have been very quiet.
Exchequer Bills have declined to I.M. dis.
The Commercial Bank have declared a dividend of four
per cent., making, with the previous payment, a total
dividend of seven and a half per cent. for the year, free of
income tax. It was stated that as much as thirty-six per
cent. of the assets are retained in cash to meet liabilities
in lieu of twenty-five per cent., the ordinary proportion ;
and that no large sums are sunk in building or inconverti-
ble securities. The halfyearly dividends of the leading
joint-stock banks in the country, so fur as they have yet
been held, are quite as satisfactory as those earned by the
metropolitan establishments. The Carlisle Cit.) and Dis-
count Bank have declared a dividend of five per cent., and
a bonus of five per cent, fur the half-year ; the Perth
Banking Company a dividend of 201. per share over and
above a previous bonus ; and the Clydesdale Banking
Company seven per cent., being 10,0001. to be added to
the reserve.

The Directors of the Crystal Palace Company have
issued a circular to the shareholders recommending the
creation of a debenture stock of 210,0001., carrying a per-
petual preference interest of six per cent. The object is
to remove the financial uncertainties consequent upon the
present form of the company's floating debt. The charges
to be so paid off amount to 347,7801. _

The Clarendon Mining Company of Jamaica have
resolved to sink a new shaft at an estimated cost of
19,2001., to be extended over four years. To meet this
expenditure a call will be made.
The North Staffordshire Railway Company have de-
dared a dividend at the rate of four per cent. per annum,
carrying over a balance of 3,2431.
The indigo sales have terminated. Owing to the state
of affairs in India a fair advance has been established.
The same may be said of saltpetre.
Owing to losses by some of the Greek firms which
recently failed, the National Discount Company have been
unable to declare a dividend. The chairman, however,
said the company could pay 20s. in the pound ; but Mr.
Coleman, the accountant, dissented from this view.
The half•yearly dividend upon the Five per Cent. Gua-
temala Debt is advertised to be paid on the Ist of
August.
A dividend of 11. per share has been declared by the
Cobra Mining Company. It was stated that the yield of
the year 18.56 was 14,617 tons, being 2,913 tons less than
in 18.5.5, and that the copper has deteriorated in quality.
The dividends on the Louisiana State Bonds and New
Bank Bonds are payable on the Ist of August by Messrs.
F. De Lizard's and Co.

It is announced that the cable of the Atlantic telegraph
is finished, and its shipment on board the Agamemnon and
Niagara completed. Both vessels sail to-morrow for
Queenstown, and in the ensuing week they will commence
laying down the line from Valentia Bay. The process is
to be carried on entirely from this side, the vessels steam•
ing direct to St. John's, Newfoundland. Various opinions
prevail as to the result.
The debts of the Hastings Old Bank are estimated at
150,8151., and the assets at 105,9091. It is expected that
the estate will realise 13s. lid. in the pound, less the

expenses.
The Euphrates telegraph is about to be commenced
immediately.
The Trade Reports of the week are generally satisfactory,
though business appears to be rather quiet than
otherwise.

BANK OF ENGLAND.

An Aocount, pursuant to the Act 7th and Rth Victoria, cap. 3
for the week ending on Saturday, the 18th day of July, 1857.

IBRUC PrPARTSIENT.
Notes Issued ....:25,665,4901 Government Debt £11,015,in0
Other Securities .. 3,459,9nn
Gold Coln & Bullion 11,190,490
I Silver Bullion ....

£25,665,490 1
NANNING DEPARTYZNT.

£25,6 65,490

Proprletors'Capitalll4,663,ooo, Government Secu•
Rest
Public Depositor.. 3,4:9.958 ,' Dead Weight An.) 40,596 581
Other Deposits
Seven Day et other 'Notes
Bills
133,118,080

L 33,118,080
of National Debt

• Including Exchequer, Commissione
Savings' Banks, and Dividend Accounts.

Rittropolitan fiarhtts.

(Reportedexclusivelyfor "THZ PRINS.")

CORN EXCHANGE—The arrivals of English wheat fresh
up this week have been only moderate, Tet the show of
samples has continued tolerably good. 1. or all kinds the
demand has ruled heavy in the extreme, and prices have given
way fully Ds per quarter. About fifty quarters of new wheat
grown in Essex have been on offer in good condition. There
has been scarcely any inquiry for foreign wheat, and prices
have fallen from 3s to fully 45 per quarter. The fresh Imports
have increased to some extent. English barley has realist d
full prices; but inferior foreign parcels have fallen in value la
per quarter. Malt has ruled about stationary, with a moderate
inquiry. There has been less activity in the oat trade, and the
quotations have ruled a shade lower. Beaus have commanded
full prices. New peas have made their appearance, and old
parcels have ruled steady. Flower has moved off slowly, at
Inrther depressed rates.
Ettousx—Wheat, Essex and Kent red, 4's to 61s; white,
48a to 665; Norfolk and Lincoln red, 466 to 60s. Malting barley,
38s to 44s ; grinding ditto, 23s to 30s : distilling, 35s to 30s.
Malt, 626 to 78s. Feed oats, 21s to 27a; potato, 27s to 335.
Rye, 32s to 365. Tick beans, 36a to 395; Harrow, 36s to 40s;
pigeon, 43s to 475. Grey peas, 42s to 45s ; maple, 42s to 47a ;
white boilers, 40s to 44s per quarter. Town•made flour, 536 to
545; country marks, 398 to 438; householda,44s to 45s per
2+2lolbs.