The Press.
London, England, 1857-06-13 00:00:00

Aft arta and 6itg late Wpm

FRIDAY EVZNINO.
Tins return of the Bank of England for the week ending
the 6th inst., shows the following changes compared with
that for the week preceding :
Decrease in Circulation X340,330
Increase in Public Deposits
Increase in Other Deposits
Increase in Securities
Increase in Bullion
Increase in Rest
Increase in Reserve

Bullion in Both Departments .... 10,290,649
Circulation, including Bank Post
Hills

The Bullion and the Reserve esch show a large increase,
the former in consequence of the late purchases of gold,
and the latter from the additions to the public and private
deposits having considerably exceeded the money which
th Bank has advanced on securities. The bullion,
th nigh it shows a satisfactory increase, is now more than
1,100,0001. less than that possessed by the Bank of
Fcance, a circumstance wholly without precedent of late
ya irs. In other respects the returu does not require any
ape !jai observation.
The Monthly Debtor and Creditor Account of the
Batik of Fiance, made up to yesterday, was published in
the Moniteur of this morning. It is generally of a favour-
able character, especially with regard to the increase in
the bullion, which now exceeds eleven millions and
a quarter; but, as will be seen from the tabular
statement below, this comparatively high sum has been
attained by a large expenditure in premiums upon its
purchase. Another favourable feature is the falling off in
the discounts and advances of the Bank to its customers.
It amounts to more than a million and a half, and
it indicates less pressure for money among the
commercial classes. The private securities have been
reduced consequently from 23,410,000/. to 21,848,0001.,
whilst the private deposits have only fallen off 82,0001.,
and the public deposits have enlarged by 1,280,000/. Com-
pared with the previous return of May 14, the following
Are the principal changes in the position of the establish-

ment during the month, expressed in English currency
at an exchange of twenty•five francs to the pound
ceiling :
Decrease in Circulation . •
Increase in Public Deposits
Decrease in Other Deposits
Decrease in Commercial Discounts
Increase in Bullion
Decrease in Advances on Bullion
Decrease iu Advances on Public
Securities
Decrease in Advances on Railway
Securities
Increase in Premiums on Purchases of
Gold and Silver
Circulation (June 11)
Stock of Bullion (June 11)
The whole advances made by the Bank are shown com-
paratively in the following table :
JUNE. Max.
Commercial Discounts .. X 19,975,348 £21,313,382
Advances on Bullion .. .. 116,M32 133,352
„ Public Securities .. 1,052,213 1,210,705
„ Railway „ .. 702,532 752,842

Total .. £21,846,925 X23,410:281
Deduct .. 21,840,92.5

Decrease in June .. X 1,563,356 I
The return, therefore, as a whole, is the most satisfactory
that has appeared this year; and it certainly affords hopes
of a reduction shortly in the rate of discount. The
premiums paid on gold and silver purchases during the
current half-year new amount to 84,843L—certainly a very
large sum to be so expended ; but it appears to answer the
purpose for which it is spent. M. de Germiny has been
appointed Governor of the Bank, in succession to M.
D'Argont.
The Money Market has experienced a very moderate
demand in the current week. The general trade of the
country is unquestionably less active than for some time
past, and the effects of the diminution are already felt in
the discount market, in which there has been some little
tendency towards lower rates. Ihe ease, however, brought
about in this way is less satisfactory than that which is
the natural consequence of an abundant supply ; for we
take it to be a symptom that the profits of trade, notwith-
standing its activity for some time past, have not been
enough to enable the mass of mercantile men to sustain
the high charges required for discounting the common
class of bills. It so happens that in this state of the
demand, and in this condition of trade, we have in the last
ten or fourteen days received enormous supplies of bullion
from Australia and the United States, and that the Banks
of England and France have largely added to their stocks,
as appears by what we have stated above. Capital, conse-
quently, is just now showing slight and cautious but un-
doubted symptoms of accumulation in the banks and
discount houses; and during the last day or two a disposi-
tion, certainly not very well defined, but sufficiently obvious
nevertheless, has been manifested to seek for its employ.
ment at current rates. Today, however, there was rather
more tightness.
The Continental Exchanges ate about the same as last
week. This afternoon they were a shade firmer.
The transfer books of Consols being now closed, quota-
tions are given ex-dividend. The final price this day
week was 93 to with the dividend deducted, and they
have been stationary at that price all week, the variations
having never exceeded }. Business has been as languid
as possible; indeed men of the longest experience in the
Stock Exchange assert that they cannot remember a time
when the market was less animated, or less disposition
shown by the public to invest. Activity, however, will
certainly follow uny decided improvement in the Money
Market. To-day they opened and closed at 931 to ex-
div. Little or no business was done.
Railway Shares have declined since our last, and
among them London and North Western, in conse•
quence of the loss of property by a serious fire at the
principal goods-station in London. Several other descrip-
tions are lower. But Sheffields, Oxford and Worcesters,
and some others, have rather lanzely advanced. Canadian
shares are generally lower, the traffics being comparatively
unfavourable. French descriptions were depressed in the
early part of the week, but at present they are rallying.
Foreign Securities have shown little or no movement.
Turkish Six per Cents., however, are nearly one per cent.
better, the Greeks having been large purchasers. Mexicans
rather flatter.

Joint stock Banks dull. Ottomans have improved to
I die. to # prem, and have been repeatedly dealt in at par.
The Discount Companies are heavy.
. .

Mining Shares hive been totally neglected this week in
the Stock Exchange, the dealings in them not having
numbered half-a•score bona fide transactions.

Miscellaneous Securities remain without change.
The amount of June Exchequer Bills sent in on
Monday for which money has been demanded is said not
to have exceeded :100,01X/1.
The Bank of Australasia have declared a dividend and
bonus at the rate of twenty per cent.
Several mercantile suspensions have been announced
during the week. The largest is that of Messrs. Evans,
Hoare, and Co., a firm largely engaged in the Australian
export trade, whose liabilities are stated to be between
1 50,0001. and 200,600/.

The total sum' to be contributed by this country in
redemption of the Sound Dues is 1,1'23,2081., and the
Chancellor of the Exchequer has proposed to pay it down
at once instead of spreading it over a series of years at four
per cent. interest, as will be the case with many of the
other nations interested in the settlement of tha question.
The House of Commons has adoptei the proposal, and
the measure is now making progress through the Legisla•
ture. The prosperous state of the revenue is assigned as
the main reason for at once discharging the British
proportion out of the present balances in the Exchequer.

Some apprehensions have.been felt lest the transmission of
such a sum will disturb the Money Market; they are,
how ever, exaggerated, though of course some effect will
be produced by it.
The bank of Messrs. Gotch and Co., of Kettering,
suspended on Tuesday. The liabilities are not very heavy.
The bank was established sixty-lve years ago. It was a
bank of issue, with a circulation limited under the Act of
1814 to 9,1921., and, according to the last published
returns, its total of notes out was 8,79!1.

The sum paid into the treasury of the East India
Company for bills on India from the 25th May to the 9th
June was 72,3301.

The Trade Reports of the week read better, but
general complaint is made of the smallness of profits and
the dearness of money. In the manufacturing districts
of Lancashire the adoption of short time and the volun•
tary idleness of Whitsuntide has already told so well upon
stocks that producers of most sorts of goods have been
enabled to command a shade better prices. But, on the
other hand, cotton has advanced in Liverpool about
Rd. per lb., and the brokers' circulars say that the raw
material will go higher, and that the market looks now as
unpromising for spinners as at any previous period in the
year, even if money should become cheaper. This
opinion is also held in Manchester. The cotton trade,
therefore, will for some time continue to be watched with
interest, if not anxiety ; but we hope that whatever disasters
may be suffered by weak houses in consequence of the
present and prospective state of things, they will not give
rise to exaggerated alarms. The fact is, the cotton trade
is in a state of transition with regard to the raw material,
and the pending crisis must stimulate the spinning and
manufacturing capitalists to endeavour to enlarge the fields
of supply.

BANK OF
An Account, pursuant to the Ai
for the week ending on Saturi

EN GuAND.
Let. 7th and sth Victoria, cap. 38
Iky, the 30th day of May, 107.
PAK CIiENT,

Government Debt 511,015,100
Other Securities .. 3,459,900
Gold Coin k Bullion 9 588 580
Silver Bullion

.424,00,L80

P&RTXINT.
Government Seen-

rides (including
Dead Weight An.) i 10.328 131
Other Securities l9 06t 740
Notes 6,277,00
Gold h Silver Coin 702 OG9

03.372 W
of Natioual Debt