The Press.
London, England, 1857-03-14 00:00:00

Mom Riarhtt nab 6it,g `lntelligent.

FRIDAY EVENING.
"THE return of the Bank of England for the week ending
the r.:th inst., shows the following oi.anges compared with
ithatfor the week preceding :
Increase in Circulation £220,467
Increase in Public Deposits
Decrease in Other Deposits
Increase in Government Securities 104,027
Decrease in Other Securities ..
Decrease in Bullion
Increase in Rest
Decrease in Reserve
Circulation, including Bank Post
Lulls
iu Both Departments
This eon/prison is not very favourable. The Bullion con-
'limits to decrease, but it still keeps above ten millions
and a quarter. The Reserve, however, shows a considerable
faliing off, owing to the withdrawal of a large amount of
private deposists in consequence of the active demand for
money which prevailed last week. The Bank, however,
has added to its investments in Government Securities—a

-circumstance that no doubt helped to sustain the market
last week. The Public Deposits continue to increase;
they nons exceed 8,000,0001.
Lord Palmerston has declined to become a candidate
for the representation of the City, hut Lord John Russell,
rather contrary to expectation, will try the issue of the
election ; and he will be found a formidable opponent to
any nominee of the irresponsible clique which aspires
to control the representation of the capiial, unless peace
be soon male between them. On dil that Lord John
• offended his brother of BeiltOrd by his vote on Mr.
Cobden's resolution, the Duke having supported Lord
• Palmerston in the House of Lords, and therefore Tavis•
• tock is closed to his lordship. Although there is a good
.deal of talk kept up about the occurrences in China, and
%the necessity of the Government being supported in their
imeasures for the protection of British subjects and pro-
party, this cause us an electioneering cry is not golfing
:ground. Candidates are merely expected to approve the
.measures necessary to bring the Chinese to reason. This
'done, the great point required from them will be that
'thirpshall reflect the popular opinion, which is certainly
opposed to the present scale of public expenditure. As to
Lord Palmerston becoming a candidate for the City, the
idea was never seriously entertained even by those most
actively engaged in getting up the temporary agitation on
his behalf.

It was reported to-day among the houses connected
with the China trade, that the Earl of Elgin has been
appointed Plenipotentiary to the Emperor of China, and
that the noble earl will proceed forthwith upon his mission.
A heavy demand for money has existed all the week.
• Some slight relaxation was felt yesterday, but not enough
to affect the general character of the market, and at present
there is but little prospect of ease, although in some quar-
ters an opinion prevails that an improvement may soon be
expected. The activity of trade is making heavy demands
upon capital ; the pending elections are already exercising
a disturbing influence, upon the country banks especially ;
we are unable to retain any considerable amount of Atts-
tralian gold when it comes ; and the continental exchanges,
which for two or three weeks have been improving, are
row turning rather adverse. The Indian and China ex-
changes are also adverse. These are all circumstances
more or less repugnant to speedy improvement, and we
may add that money in Hamburg and some of the Ger-
man commercial cities is a half per cent. dearer than it
was ten days ago. We are, therefore, unable to concur
with those who believe that rates will soon be easier,
although it is probable that, from a temporary cessation in
the demand, some change for the better may be partially
realised. We doubt even whether the dispersion of the
April dividends will produce any material effect unless it
as preceded by large arrivals of gold, and a diminution in
the continental competition to obtain them. To-day the
demand Was again active at full rates.
The specie movements of the week have again pre-
sented some features of importance. We have had two
arrivals from Australia to an aggregate amount of
154,0001., but the greater part of the gold has been taken

THE PRESS.

for France, partly on account of the Bank of France, and
partly in return for silver bought for export to India and
China. It is said that only about 20,0001. will remain in
this country. The exports besides have been ;33,40:)/. to
Brazil. In consequence of these movements a sum of
1.2.:1,000/. has been withdrawn from the Bank. Nothing
has come in from the United States, not even on French
account. _

English Securities are generally lower than they were
this day week, and less business has been done; but the
decline has not been material. Consols have suffered
most, mainly front the unwillingness of operators to con•
tract engagements of any magnitude, and from a falLug
off in business consequent upon the scarcity of money.
Railway Shares have been more active, and fluctuated
more. Banking, Mining, and Miscellaneous Securities
have been moderately active.
Consols, which left off last Friday for the Sth of April
at 931 to 91, were first affe3ted by a considerable sale on
Monday, on account of the Court of Chancery ; and since
then they have been almost stationary at 931 to f. Occa-
sionally they have been higher, and on Wednesday they
were temporarily one.eightli lower. The quotations fur
money have, in like manner, been steady at 931 to f. To-
day they opened at 93i to f, and they were rather firm for
a part of the day, but just before the close they gave way,
and left off at 93i to i heavy.

Exchequer Bills, notwithstanding the demand fur money,
have been steady at par to Bs. prem.
Railway Shares are not quite at the highest prices of last
week, sales having preponderated. Caledonians, however,
have maintained the late advance, and some of the French
lines are better. Eastern Counties have improved, and a
good demand has existed for Canadian descriptions. Great
Northerns have been adversely affected by the fact that for
the present no dividend can be legally paid owing to the
Redpath frauds.
Foreign Securities continue well supported. Turkish
Six per Cents. have further advanced about k per cent.
Joint-atock Bank Shares remain firm, and in some
descriptions business has been active. Among these
Ottomans have been prominent, owing to statements
that the approaching dividend will be ten per cent., leaving
a handsome balance over. They have frequently been
dealt in at 161, but they closed rather flatter yesterday
and again to• Jay. Shares in the established under.
takings have been firm throughout. Australian deactip-
tions are however weaker.

Miscellaneous and Mining Securities have been dealt in
but to a moderate extent.

The monthly return of the Bank of France was issued
yesterday, and published this rooming. It is almost
wholly favourable, for the Bank has reduced its advances
more than two millions and a quarter, while the
has increased no less than 1,067,4++51.

.
The firm of Messrs. Dodge, Bacon. and Co., merchants
and patentees of India-rubber cloth, have suspended
payment in consequence of the non-receipt of remittances
from the United States, where the house have an
establishment at Newark, New Jersey. Their liabilities
are stated to be upwards of 100,000/. A considerable
dividend may be expected.
The details of the intended constitution of the new
international bank at Paris have been published. It is to
be called " The International Society of Commercial
Credit." The capital is to be 4,800,0001., in shares of
2001. each, of which only one-half are to be issued in the
first instance ; 40/. is to he paid on subscribing ; 401.
within a month after the decree of authcrisation ; and the
remaining 120/. at the discretion of the directors, but not
until after the issue of the entire capital. The company
is to transact all the business of bankers and bill brokers,
and in some respects it will be a most formidable rival of
the Credit Mobilier.

The amount paid into the treasury of the East India
house for bills on India from the 25th February to the
9th March was 82,6.281.

The estate of Messrs. Swayne and Bovill, m2rchants
and engineers, who failed on the 3rd instant, is to be
wound up under inspection.
A meeting of the creditors of P. Sinnnides and Co.,
Greek merchants, was held on Tuesday, when an
adjournment took place fur three weeks. Irrespective
of a debt in Alexandria of 20,8001., the assets show
about 2s. in the pound, but there are some hopes that
they may be further increased.
Mr. Ealade, the governor of the Royal British Bank,
was examined at the Court of Bankruptcy on Wednes
day, with regard to the formation and management of
that notorious enterprise. The disclosures were of a
disgraceful character. An adjournment was ordered.
The dividend court of the Bank of England proprietors
is called for Tuesday next. The dividend will be four
and tehalf per cent. for the half year.
The Trade Reports of the week are generally of a
very satisfactory character.