The Northern Daily Times.
Liverpool, Merseyside, England, 1856-10-17 00:00:00

MONETARY AND COMMERCIAL

LIVERPOOL, THURSDAY EVENING.
Cotton has been in rather better demand to-day,
prices are well sustained. The transactions foot
up 10,000 bales, of which speculators and exporters
took 3,000. We have had later advices from New
York to-day, but they do not add any further intel-
ligence as to the growing crop. At New York the
market was not only firm, but prices had an
advancing tendency,
The Liverpool Railway, Stock, and Share Mar-
ket continues to exhibit much fluctuation. To-day
business opened with a steady and improving ten-
dency, but afterwards the market receded and
closed quietly at about the opening quotations.
Among some of the last sales were-Caledonian,
27. East Lancashire, 191. Midland Stock, 158.
South Eastern and Dover, 20 5-16. Dutch
Rhenish, 11 16 ap. The market closed as follows :
-Aberdeen, 131 134. Chester and Birkenhead, 151
151. Caledonian, 26T, 27k. Chester and Holyhead,
158 16g. Eastern Counties, 81 9. East
Lancashire, 191 20. Great Northern, 23g 23a,
Ditto A, 10 101. Great Western, 634 64. Lanca-
shire and Yorkshire Stock, 941 948. Liverpool,
Crosby, and Southport, 18 187. London and
North Western Stock, 1001 1003. Manchester,
Sheffield, and Lincoln, ;311 318. Midland Stock,
751 751. North British, 9 98. North Staffordshire,
54d. .South Eastern, 20 5- l 6 20g. York, New.
castle, and Berwick, 191 194. York and North
Midland, 27k 278. Leeds Capital Stock, 17-Z 174.
Buffalo and Lake Huron, 1 ad. Dutch Rhenish,
44P Great Western of Canada, 22 221. Ditto New
Shares, 1 1-0. Great Luxembourg, 113 101-,d.
Money is in strong demand, and there is not any
prospect of a diminution of the enquiry. Full
rates are paid in all quarters, and merchants and
others show anxiety to provide themselves with
funds in case the directors of the Bank should
take further steps to check the efflux of bullion.
For the moment it is not thought that they will
make a further advance, but as the Court has not
yet broken up, any opinion on the subject can be
only conjectural. No doubt can be entertained but
that the monetary crisis, so far as France
is concerned, is assuming a most serious
aspect, and, although our own trading rela-
tions are in a sufficiently sound and healthy
Position, the influence exercised even indirectly
is becoming more discouraging than was antici-
pated. The continuous purchases of bullion,
both by Means. Rothschild and Messrs. Baring,
for the Continent, cannot fail to produce their
effect; and since they are carried out regardless of
the position of the exchanges, there is no telling
what the ultimate consequences may prove. The
future course of action by the Bank of England,
under the circumstances, is of course regarded
with great anxiety. The Bank of England Direc-
tors, after a protracted sitting, separated, and no
alteration in the minimum rates of discount is
announced. The Directors, however, have re-
solved to renew advances on Exchequer Bills
only. It is confidently stated that the Bank of
France has suspended payments in specie, but the
statement has not been officially confirmed.
The last rumour exercised a peculiar effect,
nevertheless there was not any serious
fluctuation in this rate of Consols. Accord.
ing to our London advices of this evening
the pressure for money on the Stock Exchange,
is very severe, and most exorbitant rates of
interest are asked for temporary accommodation.
The market for English Stocks, after further
improving, is now rather depressed, Consols being
911 91; for Money, and 911 911 for Account.
Exchequer Bills have declined to 5s and 7s prem.
The Reduced Annuities are 904 to 901.
The dealings in the Foreign Market have been
extremely limited, and chiefly confined to Turkish
Bonds. The Six per Cents have been 884 to 891
for Money, and 881 893 for the Account. The
Four per Cents Guaranteed realise 991 994 for
Money, and for Account 981 991. Portuguese Three
per Cents realise 43. Sardinians are heavy at 88,
and Spanish Three per Cents at 424. Venezuela 41
per Cents are 32.
Very few transactions are reported in Railway
Shares, prices, however, have been influenced by
the rise in the English Funds, and an advance of
about 1 to Q per cent may be quoted on most of
the principal lines. Caledonians are 53,4. Great
Western, 641. Lancashire and Yorkshire, 941.
Brighton, 105. North Western, 993 100. South
Western, 103. Midland, 75. North Eastern,
Berwick, 784 ; and do. York, 55 to 551.
Whilst on the subject of monetary matters, we
may mention that the news from Victoria by the
Champion of the Seas, contains some interesting
details relative to the production of gold in that
colony. The official returns of the first half of the
present year have been completed, and the total
export of gold is put down at 1,588,051 ounces,
valued at 6,352,204/ ; and there is no room for
doubt that the shipments for the second half of
the year will equal, if not exceed the first; thus
giving a production of over one million sterling
per month. Never were the prospects at the
various gold fields more promising, and the pur-,
suit of gold digging was never more systematically
and steadily prosecuted. At the period of the
year (July) when the mail packet left the
rain falls generally heaviest, and consequently
the miners are obliged to abandon the deep sink.,
ings as well as the surface workings; but they
are not idle, for the quartz reefs offer remunerat-
ing employment, and thus not only are they
engaged during a dull season, but the yield of gold
is likely to be uninterrupted. When it is taken
into consideration that this enormous production

of gold by our Australian colonies finds its way
almost entirely to the parent country, and that
the balance of trade with America is daily in-

creasing in favour of England, there is no appre-
hension of this country experiencing any serious
perturbation in the money market for want of the
precious metal. A newly discovered gold field, at
the Rocky River, about 240 miles beyond Maitland,
in New South Wales, is calling forth the strenuous
exertions of the searchers for hid treasure, A
letter of very recent date from New England,
says :—" There are upwards of 2,000 people here,
who have quite a little town of tents. Some
of the diggers are making 1001. a week each, and
employ labourers at 4/. and 5/. a week each. The
rush to the new diggings has seriously incon-
venienced the squatters, whose workmen uncere
moniously leave them for what they deem more
remunerative employ."

The trade in the manufacturing districts is for
the most part unchanged. At the market in Man-
chester to-day, the demand was limited for both
Goods and Yarns, and to effect sales lower prices
would have to be accepted.

Generally speaking, the Produce Markets keep
well supported, and the dealings are, to a moderate
extent, at about former rates. Sugar continues to
attract attention.

We have had later advices from New York by
the arrival of the Kangaroo, from Philadelphia, but
they add but little to our previous accounts.
Money at that city was in good enquiry, and Bank
accommodation for commercial purposes brought
full rates.

The London Indigo sales commenced yesterday.
They are thus noticed in a circular, received this
evening :—" We beg to inform you that the quarterly
sales of Indigo commenced this day, consisting of
17,633 chests, including 7,848 chests of old goods,
bought in at or withdrawn from former sales, and
1,510 chests in second hands. The qualities of the
Bengal ail about two thirds good and fine (with
but a small proportion of perfect fine), and one-
third middling and ordinary. The Madras two
thirds good and fine, and one third middling
and ordinary. The Kurpah one third good and
fine, and two thirds middling and ordinary:
The Salem middling to good, and the
Manila chiefly ordinary. Previous to the
commencement 56 chests were announced
as withdrawn; the sale then opened with a parcel
of middling to fine Bengal, which was withdrawn
from the last July sale, and purchases were freely
made at an advance of 6d to 8d per lb for the good
and fine qualities, and 4d to 6d per lb for the ordi-
nary and undesirable sorts ; beyond 8d per lb
advance there was no disposition to buy, and some
fine marks were consequently bought in above that
rate. For Kurpah the demand was also good at
an advance of 6cl per lb. No Madras passed to- '
day. There was a fair attendance of both home
and foreign buyers. 1,225 chests passed to-day,
of which 56 chests were withdrawn, 499 chests
bought in, and 670 chests sold. Total quantity at
present announced as withdrawn, 56 chests."

On the Paris Bourse, yesterday, a reaction took
place in the French Funds, which influenced other
securities, and in the course of the day a recovery
took place as follows :—Three per Cent Relates for