The Press.
London, England, 1857-05-30 00:00:00

lone, glarhet anD Citg 3nittligenct.

FRIDAY EYZNING.
THE return of the Bank of England for the week ending
the 23rd inst., shows the following cidinges compared with
that for the week preceding :
Decrease in Circulation £143.142
Decrease in Public Deposits
Decrease in Other Deposits
Decrease in Government Securities 2,910
Decrease in Other Securities
Decrease in Bullion
Increase in Rest ....
Increase in Reserve
Bullion iu Both Departments
Circulation, including Bank Post
Bills

539

The changes shown by this comparison possess consider-
able importance. The falling off in the Bullion is not large,
but it was scarcely expected, and it is not likely to be reco-
vered by the publication of the next return. As to the
Reserve, the increase is satisfactory; the notes in the till
now exceed four and a half millions. At the same time
the comparison bears ample evidence of the activity of the
demand for money, inasmuch as the advances made by the
Bank on Private Securities have been largely reduced, and
the inquiry created out of doors for the means to make
these repayments has diminished the Private Deposits
more than half a million. The Private Deposits, indeed,
have now fallen to little more than 9,00u,0001., a less
amount than for a long time past; and the Public De-
posits show a decline, owing to the payments on account of
the public service having temporarily exceeded the re-
ceipt of revenue, a circumstance not unusual about this
period of the quarter. Altogether the return is not un-
satisfactory, for, notwithstanding the changes which it
discloses, the position of the Bank with regard to its notes
and coin is certainly stronger.

Less perplexity has been felt in the Money Market this
week than in the last ; but there is still an uncommon
degree of sensitiveness as to its future condition. This
feeling has prevented improvement, particularly as it has
been associated with an active demand both upon the
Bank and in Lombard•street during the last three or four
days, mainly, it is thought, in connection with the ac-
ceptances at maturity next week, for ordinary trade has
not sufficiently improved to require more than ordinary
advances. The pressure from the middle class of traders,
dealers, and maitu'ecturers, is, nevertheless, extremely
severe, and whatever assistance is rendered to them is paid
for at a high price ; the inconvenience, however, is chiefly
felt in the country, and is only partially known here by the
reluctance of the great wholesale houses to take any but
the very best bills. Yesterday, and again today, there was
an appreciable degree of anxiety in monetary circles, owing
to a further rise of live per cent, in the value of dollars
at Shangh,d, where the rate of exchange has ad-
vanced from 7s. to 7s. 4d. This will naturally
give a powerful impulse to the shipment of silver,
the supply of which in this market is all bought up,
and orders have been transmitted to the Continent to effect
purchases there. This state of the silver market will
necessarily require a corresponding export of gold. and of
course our reserves are likely to be affected by it unless we
have speedily some heavy arrivals from Australia. l'o
these causes of anxiety and motives to caution must lie
added another in the state of the Money Market at PdliB.
The distrust caused by the failure of M. Thurneyssen is by
no means abated; indeed it has been rather strengthened
by the publication of an injudicious letter from M. Isaac
Pereire in relation to that case, which has revived all the

considerations front which, in this market, the Credit
Mobilier is believed to be based upon an unsafe and danger-
ous principle. Whatever may be thought -if the Credit
Mobilier in Paris it can never be popular in London ; and
any discussion provoked by its friends is sure. so fur as
opinion is concerned, to awaken a host of prudential
feelings with reference to every class of its engagements
and connections. Certainly it has been so since the ap-
pearance of this letter; so that what with the aspects pre-
sented by our own trade and our own markets, and the
suspicions as to the soundness of things In Paris, it is not
surprising that capitalists are showing a good deal of
sensitiveness. Rates, as may therefore be expected, are
very firm and rather hardening. To•day the demand was
again active, and in the Stock Exchange seven and a half
per cent. was required fur short loans.
The specie movements during the week have been
rather important, though the expected arrivals front
Australia are still delayed. The imports have amounted
to nearly 400,0001., including 72,000 sovereigns from Con-
stantinople for the Ottoman Bank. The exports have ex-
ceeded 100,0001. Of the balance, about 1(10,0001. has been
taken to the Bank, and the remainder for the Continent.
The Bank, however, has parted with more than an equal
amount of gold, which has been sent to Brazil, Malta, and
the Cape. The silver to lie sent to India and China by
the packet of the 4th is expected to amount to one of the
largest, if not the largest, shipments on record—between
900,0001. and 1,000,0001. Silver has advanced id. per
ounce since the receipt of the telegraphic despatches
announcing the state of the exchange with Shanghai.
The Continental Exchanges have been firm, but to-day
they were all rather lower.

Several failures have taken place during the week, the
most important of which is one at Liverpool of a party
engaged in the American provision trade, with liabilities
to the extent of 100,0001., and very indifferent assets.
Consols have not improved since this day week, but
they would, in all probability, have been considerably
better had not the market been adversely affected by the
present and prospective demand for silver. Last Friday
they closed at 93f to 4, and they hail yesterday attained to
944, just when the unfavourable exchange with Shanghai
became known. This threw them back to 034 to 94, at
which they left off, officially. During the week there has
been some heavy selling by the Greek operators, but
quotations have never descended below 93f to 4. Today
they opened at 931 to 94. but money sales, said to be on
account of purchases of silver to be transmitted to China
by the packet of the 4th, caused a decline, and they left
off flat at 934 exactly. For the July account the present
price is 944 to 4.

The purchases of Exchequer Bills at the rate of 30,0001.
per diem have been daily made by the Government broker
on account of the savings•banks, but today they cessed.
The premium has consequently improved to 4s. to 7s.
The advertised descriptions stand at 2a. to 4s. prem.
Railway Shares have fallen one per cent. since this
day week, and some descriptions lower. liminess has
been extremely inactive, owing portly to this being the
week of " the isthmian Game.," which have attracted
numerous !umbels of the house to Epsom Downs.
and to the settlement, which was brought to a close
yesterday.

540

The Foreign Market has been very inactive.
Nothing worthy of notice has occurred in Joint-stock
Bank, Mining, and Miscellaneous Shares.
The committee of the Stock Exchange have today
appointed Tuesday, the 9th of June, as the special settling
day in the shares of the Grand Russian Railway Company.
The settlement is to take place in the provisional certifi•
cates issued by Messrs. Baring and Co., but the shares are
not to be quoted in the official lists.
The Board of Trade Returns for the month and four
months ending April 30th have been published during the
week, and they again show a large increase in the declared
value of our exports, though nut in the same proportion
as that during the preceding three months. It should
also be remembered, in estimating the importance of such
comparisons, that the value of the raw materials used in
oar manufactures is considerably higher now than at any
previous period included in the return. The increase is
0t30,9181., or about five per cent., as compared with the
corresponding period of last year, and 1,899,8801., or
twenty.three per cent., as compared with April, 1855.
Linen shows rather a large decrease. The total increase
during the first four months of the year has been rather
more than twelve per cent., and compared with the cor-
responding four months in 1853 about forty five per cent.
The net profits of the Trust and Loan Company of
Upper Canada, the meeting of which is to be held to.
morrow, for the half.year ending March 31st, are stated to
be 9.3111. The dividend is to be at the rate of seven and
a half per cent. per annum, free of income tax. Small
sums are to be applied towards the preliminary expenses
and the reserve fund, and 3111. to the credit of the current
half year.
The Mercantile Bank of India, London, and Chins, had,
during the halt-year ending December 31st, earned a net
profit of 31,4941. A dividend at the rate of eight per
cent. per annum has been declared, and 11,4971. added to
the reserved fund, which now amounts to 40,2191.

An increase of capital has been determined upon by
the American and European Steam Shipping Company.
The creditors of Messrs. Thomas Biggs and Son, of
Broken Wharf, Thames•atreet, have signed an agreement
to accept 9s. in the pound, secured.
The value of the Joseph Sornes and its cargo, destroyed
by Ere upon the voyage to Melbourne, on the 25th Feb.,
was 80,0001. _ _ _

_ .
The amount paid into the Treasury of the East India
Company for bills on India from the 9th to the 25th of
May was 28,51-I/..

The Fruit Trade who are interested in the repeal of the
metage duties have received a favourable reply to their
memorial from the Commissioners of Customs.

At the annual meeting of the Oriental Bank Corporation,
a dividend and bonus of seven per cent. for the last six
months were declared. The reserved fund now amounts
to ?,00,0001.; 8,0621. are carried forward to the next year's
account. It was stated in the report that the Corporation
have ample security for any advances that may be made
during the liquidation of the affairs of the London and
Eastern Bsnk.

The directors of the Sombre and Meuse Railway are
negotiating for an amalgamation with the Louvain and
Charleroi and Morialme and Chatelineau lines, which, if
effected, will increase the traffic and diminish the expen-
diture.

Mr. Henry Freshfield is now associated with Mr. Charles
Freshfield in the appointment of Solicitors to the Bank of
England.
From the report of the directors of the lonian Bank, it
appears that the profits for the twelve months ending
December last were 9,0771. The dividend is at the rate of
five per cent. per annum.
The mass of the Trade Reports of the week describe a
dull, inactive business. The short•time movement is
spreading in Lancashire, and it will be nearly general after
the lilt of June.

BANK OF ENGLAND.
La Account, pursuant to the Act 7th and t4th Victoria, cap. 32
for the week ending on Saturday, the 16th day 01 May, Itll7.

ISRUE PFPAitTMENT.

Notes Issued ..,.123,533,315 tiovereroent Debt £11,015,1(0
Other Securities .. 3,459,90.
Gold Con& Bullion 8,958,3:b
Silver Bullion .... --

A 23,533,316

£23.533,313
RANKING n KPARTSIZNT.
Proprietors'CapitalLl4,6s3,ooo Government Seen-
Rest
Public Deposlto*.. 6.555,5n6 Dead WeightAno i 10.326 131
Other Deposits
Seven Day & other Notes 4,601,835
Bills

£33.213,328
of N.tloual Debt,

433,24,328 1
• Including Exchequer, Commies._
Saviuga' Banks, and Dividend Accounts.
BRITISH FUNDS. Clos
OFFICIAL 4UOTATI
jMond. Tuesd.
_____
S par Cent.Consols I 231 1,1911 1
Ditto for Account ^4 31, 331
3 per Cents Reduced 921 .4! 915
3 per Cents
Long Annuities
Hank Stock 7 per Cent 2131 212
New 2$ per Cent Annuit —77 i I
Exoh. Wile, 2sci. .. (June), 0 UIG I 0
DWI& Donds,( 1,0001.) 1 td 1.1 17d !4 74
FOREIGN FUNDS.
Per Cent. Mond. These!. Wed. Thum
Brazilian S 99j 1100 i look I
DIIIII6II 5 i
Dtch. ( 14:x120101 M I._
65i
F touch 8 G'Jf We,
Do. 4l
Do. Bank Stock

f ei
f
f.
22
764

i6Ett )sci
t e
i CI

Prtoes.
is.

Wed. Thurs.

93144 93i
; 04
92i 92e
192 i 192 s

212 e 1218 i

169130 c.
C

Mexican 3
Peruvian 4l
Portuguese 4
Russian 6

Spanish ...., 3 1 41i
Turkish Aco 6 94}

-- 1 42
941 i leil i

42 I
INI Ii

991
92%
931

Friday.
100 e

f a
f c

76
107 g

THE PItESS.

3littrupolitatt forkets.

(Reportedesolusivelyfor "T it z Pages.")

CORN EXCHANGE—Since our last report only moderate
supplies of English wheat have come to hand, coastwise and by
laud carriage, and the demand for all kinds has ruled some-
what active, at an advance in the quotations of 2s to 3s per
quarter. There has been an improved feeling in the sale for
foreign wheat, at is to is per quarter more money. Floating
cargoes of grain have realised a slight advance. The few
samples of barley on offer have found ready buyers at full
quotations; but malt has commanded very little attention. The
oat trade has continued steady, and prices have had en upward
tendency. Both beans and peas—though the demand has been
far from active—have sold at extreme rates. Town•made flour
is unaltered in value; country marks have advanced is to 2s
per 2861b5.
Esousit—Wheat, Essex and Kent red. 51s to COs; white,
IS2a to 695; Norfolk and Lincoln red, 49a to Os. Malting barley,
368 to 468; grinding ditto, 23s to 30s : distilling, 359 to 98e.
Malt, 62s to 78a. Feed oats, 209 to 22a; potato, 23s to 28s.
Rye, 32e to 36e. Tick beans, 32s to 345; Harrow, 33s to 365;
pigeon, 38s to 40s. Grey peas, 368 to: ; maple, 36s to 40a ;
white boilers, 36s to 41s per quarter. Town•made flour, 60s to
525; country marks, 39s to 41s; households,42a to 44s pet
4801 bs.