The Press.
London, England, 1857-04-18 00:00:00

Plug Prim anb tit Itttistigma.

FRIDAY EVENING.
ME return of the Bank of England for the week ending
the 11th inst., shows the following ci.anges compared with
that for the week preceding :
Increase in Circulation
Decrease in Public Deposits
Increase in Other Deposits
Decrease in Government Securities 312,14414
Decrease in Other Securities
Decrease in Bullion
Decrease in Rest
Decrease in Reserve

Bullion in Both Departments .. 9,001,612
Circulation, including Bank Post

•
Bills
There is quite sufficient shown by this comparison to con-
firm the expediency of the Bank policy in adopting the
restrictive measures of last week, for it reveals an ex•
ceedingly weak and discouraging position. Indeed, if
there were not reason to anticipate that the succeeding
returns will be of a totally different character, the present
would suggest apprehensions in which it would not be
agreeable to indulge. The Bullion shows a failing off of
279,1081., following another of no less then 643,8391.,
making a total of nearly 02:1,0001. within a week, and re•
dining the stock to a mere fraction above 9,000,0001. BO
the next week's return will disclose a recovery of about
half a million. The Reserve shows a still greater falling
off. The decrease in the Public Deposits is owing to the
payment of the April dividends, and the diminution of the
Rest is ascribable to similar payments on account of the
Bank proprietors. The large. reduction in the Private
Securities has brought that item down to 18,9R4,6401.,
or nearly 10,000,0001., still a very heavy amount, and one
more likely to increase than to diminish. The other
changes shown by this comparison do not call for any par-
ticular remark, being only such as are usual at ibis period.

The Money Market, during the whole week, has mani-
fested nearly all the usual signs of a pending crisis. It
has had to support an amount of pressure that we believe
to have been unparalleled since 1817—an amount certainly
greater than has existed since discounts assumed some-
thing like permanently high rates. In face, an incipient
panic has threstenel the market. We attribate the sensi-
tiveness that has prevailed, not to any disorganisation in
our extending trade, or to any limitation of credits—though
a silent process of that character has been apparent for
some time—orto the natural results of unsound speculation ;
but to the unavoidable operation of the causes pointed out
last week. The restrictions imposed by the Bank upon
discounts and advances, by increasing the rates upon one,
and limiting the duration of the other, naturally produced
some degree of alarm as to the future, especially as it was
well understood that the reasons upon which that policy
was founded still existed in almost undiminished force.
The import of silver from the Continent to supply the
India demand had not, nor has it yet, relaxl ; the demand
fir gold to pay for that silver was therefore in full action,
most of the geld being obtained by means of discount and
loans upon stock. Then there is a constant demand
for foreign enterprises of various descriptions, besides a
home demand to meet a large aggregate of commercial
acceptances, falling due at irregular but almost daily
intet•tls. From these causes, to which must be added the
slow improvement of the exchanges, arose a community of
sentiment that the market would be unable to sustain the
adverse influences thus created. This feeling prevailed
on Monday ; on Tuesday it assumed a more tangible and
outspoken aspect; and on Wednesday it was nearly a
universal expectation that the Bank Directors would. at
their weekly court yesterday, advance the rate of discount
from six and a half to seven per cent., and altogether
refuse to take brokers' bills or to make advances on stock.
If such a policy had been resorted to, we believe the con-
sequences would have been highly disastrous. Up to the
very close of business on Wednesday, however, something
of this sort was anticipated. But yesterday morning
before the Bank court assembled better impressions
existed; opinion was generally more reassured ; and when
it was found that the Directors separated without doing
anything, and after a shorter sitting than usual at such im •
portant periods, confidence fully returned into its usual
channels, and the market assumed an appearance of solid
e tse. On taking a calm review of the tendencies mani•
f ?stet' during the week, it was then generally admitted
t tat the apprehensions prevailing up to Wednesday had
b greatly exaggerated ; that us we had received large
arrivals of Australian gold, the mass of which had been
sent into the Bank, the stock of bullion must have been
largely increased, while the payment of the dividends had
enabled parties to withdraw a vast amount of private secu-
rities, and so the reserve was rapidly recovering. So far
as to the position of the Bank. It was believed to be im-
proving, and the simple opinion supported confidence.
But although the alleged weakness of the Bank has been
a highly adverse element in the state of the market this
week, it has not been the only one. About 2,000,001)1. of
railway debentures fell due on Wednesday. To provide
this sum several of the leading banks called in their
loans. This compelled the borrowers to sell stock, and to
obtain advances where and at what price they could. In
one instance a sudden sale of 200,0001. stock was the
immediate consequence. Hence the market has been in
anything but a natural position, and its irregularity has
tended to produce very considerable evil. !tut the pay-
ment of the railway debentures and the dispersion of the
dividends have, beth yesterday and to-day, greatly helped
to restore it. A full demand, however, still exists; but
the feeling is improved, and bat little uneasiness is left.

The specie movements of the week have been important.
Australian gold has arrived to the value of 531,0001. ; last
week there came from the same source 340,0001., making
a gross total of 890,0001 in about ten days. The Bank
obtained none of this gold before Saturday, but since that
day there have been taken to it about 070,0001., leaving, in
round numbers, about 20 O,OOW. still in the market. But
against this must be placed several amounts sent to the
Continent, 60,000/. sent to the West Indies, and about
700,0001. which will be despatched to India by the packet
leaving Southampton on the 20111 inst. The balance would
therefore appear to be exceedingly adverse ; but it must
be remembered that nearly all the 700,0001. for India is
silver, which has been accumulating for the last fortnight
from the Continent and South America, and that there is
still so much in the market that the price declined yester•
day one-eighth per ounce. Tho West India packet which
arrived to-day brought 137,9601., so that, on the whole,
our prospects with regard to our stocks of bullion are
improving, particularly as the Bank of France is com-
peting with us less actively. Still, a report prevailed at a
late hour this evening that the Bank of France had in-
creased the premium per mille upon its gold purchases to
the old rate. If this report is confirmed, gold will be
withdrawn from this country for France as rapidly as
before, and it may be difficult to retain any large portion of
future Australian arrivals. We doubt, however, the cor-
rectness of the report.
The Foreign Exchanges waver a little, but they are
slowly improving. The Indian arc no better.
Public Securities have not varied much, notwithstanding
the agitation of the Money Market. They were, however,
very weak up to yesterday, and were only sustained by
reinvestments of trust and other monies, out of the divi-
dends. Railway Shares have, however, fluctuated to a
greater extent, being affected by the haltmontlily settle-
'tient, which was brought to a close yesterday, and by the
disturbing influences of the Money Market. Foreign
Stocks have been dull.

Consols, which closed last Thursday at 93 to have been
as low at 94 to 93, and never higher than 931 to 1. Last
night they closed at 931 exactly. Today they opened at
031 to I, and improved to 93f to f ; but rumours of a bad
Bank return, and of the change made by the Bank of
France, caused a reaction, and they closed at 93t to 4,
looking weak.

Exchequer Bills have been flat; yesterday the sale of a
large amount by a leading broker caused a decided decline,
until there is now a doebt whet) ee they will float in the
market, unless the Chancellor of the Exchequer interposes
with an undertaking to advance the rate of interest—a
course which we do not anticipate he will be willing to
take just at present. The March descriptions are at Os.
dig. to par; and the June at Ins, to 'ls. dis.
Railway Shares improved with the Money Market im•
mediately after the settlement, and some descriptions are
from one-half to one per cent. better than this day week.
During the depression which has been the characteristic
of the week, there has been no disposition to part with
stock; on the contrary, at the settlement a vast amount
was carried over in the expectation of better prices.
Turkish Six per Cents. are now quoted ex div. They
have been dealt in to some extent at various prices, and
are now one half per cent. better than un Wednesday.
Mexicans have been steady throughout. Other foreign
securities have changed very little.
Joint stock Bank, Miscellaneous, and Mining Shares
have all been inanimate. Crystal Palace Shares ate in
favour, at a shade better prices.
Letters from the north of Europe express an opinion
that the recent Order in Council, prohibiting the importa•
tion of foreign cattle from the Baltic ports, will be ineffec•
tual, from the ease with which they can be transported by
rail to Hamburg, and thence sent to Hull. The disease is
very bad in Holstein. It is now causing great precautions
to he adopted by our own breeders.
The charter of the Bank of France is likely to be re•
newed for a period of fifty years from the Ist of January,
1854. The capital of the bank is to be increased to
8,000,010/., 4,000,0001. of which is to be advanced to the
Government at a rate of interest one per cent. below the
market rate, for a period not yet defined. This has been
truly described as a loan in disguise.
The Russian railway scheme is being quietly ventilated
by degrees in this ccuntry. A Liverpool paper has been
the first to render it a hold and direct support. Capitalists
are rather inclined to nibble ; but a constant series of
attacks upon it, in the shape of warnings from an influen•
fiat organ of the Money Market, are being kept up with
consistent bitterness, so that very few persons of any con•
siderable standing have yet ventured upon giving it more
countenance than is comprised in being quiet, and ab-
staining from opposition or criticism.
Several branches are likely to be constructed in connec-
tion with the Northern of France Railway. One of them
will run between Boulogne and Calais.
The Bank of Amsterdam has declared a dividend at the
rate of about fifteen per cent. per annum.
An adjudication of Bankruptcy has been made against
Colonel Waugh, one of the directors of the London and
Eastern Bank. He is described as of I3ranksea Island,
Dorset, and of Little Abiugdon-street, brick and tile manu-
facturer.

Mr. Sheffield Leave has been elected Governor, and
Mr. Bonamy Dotree Deputy Governor, of the Bank of
England.

The Trade Reports from the provinces show less activity
this week.

BANK OF ENGLAND.
An Account, pursuant to the Act 7th and Nth Victoria, cap. 32
for the week ending on Saturday, the 11th day of April, 1e57.

ISSUE DICPARTIKENT.
Notes issued .... .422,796,165 Government Debt £11,015,1( 0
Other Securities .. 3,159,90.
Gold Coin& Bullion 6.321 1t
Silver Bullion ....

i22,79G.1G5

L 12,736,165
BANKING DEPARTMENT.
Proprietore'CapitalZl4,s33,ono, Government Secu.
Rest
Public Deposita* .. 6.1:0,350 Dead Weight An.) 111,33312'1
Other Deposits 10,481,057 Other Securities 18,964 640
Seven Day & tithe; I Notes 3,144,120
Bale

434,105,333 £34,10),333
• Including Exchequer, Commissioners of National Debt
Savings' Banks, and Dividend Accounts.

BRITISH FUNDS.— Closing Pzices.
OFFICIAL. QUOTATIONS.

3 per Cant.Consols
Ditto for Account
per Cents Reduced
3 per Cents
Long Annuities
Bank Stock. 7 per Cent
Oinniuin
Exch. Rills, 20... (June)
India Bonds,(1,000i.)
FO
Per Cent.

Brazlltan
Danish
Dtch. ( Ex 12 Gull )
French

D 0....

Do. Bank Btoci

Mexican
Peruvian
Portuguese
Russian
:punish
Turkish Ac

Moir!. Tueid.lied. Thurs. Friclny

N 92+ 92 19.11 93
y y
1231 y 931 yOh 93Y y, 93y
191 g 191 g f9l st 91y 0,91 y
!91y 2. 91y
,91 y 91Y el 91/ 2
1 !' 2Y ; 21
1213 6! ! 213 )213 24

,9 811 10 d
8 die
lIGN FUNDS.
Mond. 7'uesd. Wed. Thurs,
994 100} 100:
63
21V lk 70f 20c
t t e
f.l 1.
111 231
t'
- 42 1:

70'15c'
f.l
231
77

Friel n 11
100 e 901
101
64i
f c
f o

83f 9So

:0.6 342 911 xd
lOREIGN RAILWAYS.
Mond. Tuesday. Wednes.
71 II 7k 7
14 1 11 1 1
pad ip id par
1108 10 108 10 wa !
1 211 1 211 214 1
1441 1 1 20 111 61
Is 2 3 32 $2 3t
19 20 19 20 19 20
gt
161 ' 391 391
10 9 10 9 10
621 3 02/ t 621
6() 9 81 01 3

41
911

Antw. & Rttrdm.
Belgian East. J.
Dutch Rtiet.ish
East Indian
Gt. Indian Pen
G.W.ofCan.,Sh
Lyons & Geneva
Madras
N.A.& Lga.(w.in )
Nrthrn.of
orw. Truk. Prf.
Paris & Lyons
Paris & Orleans
Paris di RouguiA

Thurs.
71 1 7; 1
11 11
%d par id par
103 9 103 9
91$ 1 214 1
151 Gi 25 4
34 3 32 3
19 20 19 20
8 I'
:;90 404 391 40
I 621 31U1
629 101
3}
E 1 3I 61 03

FROM THE LONDON GAZETTE.
Tuesday, April 14.

. - --
BANKRUPTCIES ANNULLED. —THOMAS ATKINSON,
I3rearley, near Luddenden.foot, woolleinnanufacturer—EbW4ltll
GRAY, Broeklehurst, Liverpool, hose and strap manufacturer.
BANKRUPTS.—EDWARD BEVAN, liididOCUROSISI, victualler--
THOMAS 111DLET, Hartlepool, Durham, draper—RW.lEla SWAN
Youxo, West Hartlepool, Durham, tea dealer and grocer—
TltollAB 11UNTLEY, Sunderland, grocer.
scOTC IL S EQU ESTRATIONS.—Tuomas Ronor.r. (de,-cased ),
Coatbridge, Old Monkland, Lanarkshire, grocer—Cli.O;LE.ll
MANSON, Saint Andrews, potato merchant—Jamas ADAM, Porn.
Glasgow, joiner—WlLlAlM WILSON, Content Fann, Wallace.
town, St. Evox, Ayrshire, fanner and provision merchant--
GEORGE DAVIS, Cowcaddens.street, Glasgow, draper—WlLLlAll
WILSON, Clovorhill, Ayrshire, cattle dealer'—DAVlD GOVAN, 6,
Mathieson's•latte, liutcheson-toau, Glasgow, cow feeder.
Friday, April 17.

BANKRUPTCY ANNUL LE D.—WILLIAIt Porium DAVIS,
and JAMES DAVIS, Cardiff, slate, marble, and brick merchants.
BANKRUPTS.—JAMES CHoAr, Albert-road, Daliston, tailor—
WILLIAM ADAMS, Huntingdon, miIIer—ALEXANDER DLoitiAlt,
HEND-itsoN, London-street, Paddington, livery-stable keeper—
TROMAs HICHARDs, Aberystwith, draper —FREDEuicic LErT,
High-street, Lambeth, potter—JosEPH SUITH, Brcail-street,
Lambeth, dealer in iron—WILLIAM JAMES TAYLOR. Albiuu-
terrace, De Beauvoir.square, Kingsland, cabinet maker—As-
DERSoN STOKOE, nation Hill, Durham, grocer—RICHARD
WINTER NEAVE, Sheffield, miIIer—GEORGE JAYNE, juti.
Newport, builder—SAMUEL DALTON, DANIEL DALTON,
ALFRED DALTON, Chester, iroumasters—WlLLlAM TENT, Royal
Exchange, City, hosier.
SCOTCH SEQU RSTRATIONS.—Joms BURosriE, Cried,
flesher—DAVlO SPENCE, Ferry•Purt.on-Craig, merchant—
JAMES GLENNIE, littehauall-strlet, Glasgow, lace and sewed
muslin warehouSetnall—WlLLlAM SliAlip, Kirkwall, draper—
THOMAS 3ilultßAV, Port-Glasgow, tailor and clothier.

311(trapolitan Markets.

(Reportedexclusivelyfor "TRz Pazes.")

CORN EXCHANGE—OnIy moderato supplies of Eng.
lish wheat, chiefly in poor condition, have beeu on otferiu our
marsetthis week. Selected samples of both red and white have
sold steadily, at full quotations; but interior qualities have
moved off slowly, at the late decline in value. There has beim a
better feeling iu the trade for foreign wheat, but we have no
change to notice in the value of any kind. Floating cargoes
have ruled dull. Fine English barley has r ealised full quota.
tions ; but other kinds have given way fully is per quarter.
The malt trade has ruled dull, on tomer terms. A full
average business has been passing in outs, at is per quarter
less money. Beaus, peas, and flour have ruled steady, at lute
rates. The imports trout ab road have been trilling.
N;NOLISII—Mieat, Essex and Kent red, 47. to 565; white,
Oda to his; Norfolk and Lincoln red, 468 to 565. Malting barley,
36s to 40e ; grinding ditto, 23s to 30s : distilling, 35s to 378.
Malt, 62s to 78s. Feed oats, 20s to 225; potato, 22s to 28e.
Rye, 32s to 365. Tick beans, 321 to 33s ; Harrow, 33s to 345;
pigeon, 38. to 40s. Grey peas, 35s to igis ; maple, 37s to 38s;
white boilers, 35. to atis per quarter. Town-made dour, cos to
525; country marks, 36s to 395; households,42s to 44s per
StiOlbs.

♦RRIVALS THIS WEEP.
Wheat. Barley. Malt. Oats. Flour.
.. 33u .. 3130 40 A)
Irish

Foreign .. 4320 .. 14710 1837-0 3010sks.

3520

LONDON AVERAGES DECLARED ON FRID A.Y—Wheat,
2,7r;3 quarters, 56s ,sd; barley, 369 quarters, 468 Ild ; oats, 249
quarters, 258 Id ; rye, 15 quarters, 33s 7d; beaus, 561 quarters,
388; peas. 68 quarters,39s Id.
IMPERIAL WEEKLY AVERAGES—Wheat, 53s111; bar.
ley, 458 9d ; oats, 248 4d; rye, 3,3 s 9d; beaus, 39s 10.1;
peas, 38s sd.
THE SIX WEEKS' AVERAGES—Wheat, 55s 2d; barley,
468 sd; oats, 23a 9d; rye, 39s 7d; beaus, 39s id;
398 2d.

F.NL,LISH GRAIN SOLD LAST WE E. K Wheat , 93,845:
barley, 32,i73 ; oats, 9,728; rye, 4111; beans, 6,119; peas, 436
quarters.
BREAD—The prices of wheaten bread in the metropolis
are 8d to Aid; of household ditto, 6d to 71d per 41bs lust.
TEA—The amount of business doing in our market this
week is very moderate. In prices, however, we hate no change
to notice. The following are present rates :—Couguu, is id to
2s 4d ; Sing Yong and Oolong, Is 2d to 2s; Souchong, Is id to
2s ed ; Flowery Pekoe, 2s to 4s ; Caper,— to —; Scented Caper,
la Id to is 104; Orange Pekoe, is 2d to Is 4d; Scented Orange
Pekoe, is 4d to 2s 4d ; Twaukay, 9d to is 3d ; Dyson Skin, ed to
ls 24: ilyson, is 51 to 4s ; Young Ilyson, 10,1 to 25 4,1;
Imperial, Is to 2s 4d; Gunpowder, 11/d to 3s 6,1; MUM, is Id
to 45 44 per lb.
SUGAR—There has been only a limited inquiry for all kinds
of raw sugar; nevertheless, the quotatioLs have undergone very
little change. The supply on otter is much less than last year.
liarbadoes has realised 53s 6,1 to 59a; Berbice, hls to 55s (;(1;
Mauritius, 46s to 17s 61 ; Madras, 42s to 411 s; Bengal, 46a 6,i
to 568 per cwt. Floating cargoes of foreign sugar have com-
manded full prices. Refined goods are steady, at wily late rates
—viz., 64s tit to Ilea Gd per cwt.
MOLASSES—The demand is chiefly confined to small
pat eels, yet previous rates are supported. Present
quutauons
vary from 22s 6,1 to 26s per cwt.
COFFEE—Our market has been very inactive, and to have
forced sales of most kinds of coffee lower prices must have
been submitted to. Good ord native Ceylon is held at 604
per cwt
COCOA—The supply is still rather on the increase, and the
value of most kinds is drooping. Grey Trinidad has sold at
71s to 7:is ; common red, 7,:,s to 80s; and SL Vincent's, ties to
70s per cwt.
RlCE—Very few transactions have taken place in sr*,
kind. Prices, however, rule about stationary. Bengal, 103 to
13s 6(1 per cwt.
COTTON—The demand has continued heavy, at barely last
week's quotations.
HEMP AND FLAX—AII kinds of hemp are very dull, and
almost nominal in price. Max moves off slowly, on former
terms. Jute and Coir goods are held at full currencies.
WOOL—About 8,000 bales of foreign and colonial wool have
come fresh to hand. Owing to the high value of money, our
m ortedarket generally is heavy, and prices are with difficulty sup-
p.
SPIRITS—For rum there is still an active demand, and
prices have an upward tendency. Foreign proof has sold es
high as 2s 84 per gallon. The brandy market is active, an.lsales
of the best vintage of last year have been effected as high as
15s led per gallon. Malt apii ii a are steady.
INDIGO—The next public sales will be commenced on tho
12th of May, when about 16,000 chests will be brought forward.
All kinds are dull, but aot cheaper.
METALS—Scotch pig iron has sold to a moderate extent,
at 74a 041 to ha 9d cash. Thu abipmeuta from OlaagoW lug