The Northern Daily Times.
Liverpool, Merseyside, England, 1856-08-29 00:00:00

MONETARY AND COMMERCIAL

meet the payments of the next account. The
directors of the Bank of England, however, have
not felt it necessary to interfere with the rate of
interest. The bill brokers are transacting a
profitable business, but their operations for the
present are not extensive, although a fair amount
of trade paper is under discount. The next three
weeks or month will be an anxious period, as the
ultilnate yield of the crops_ may then be fairly
ascertained, and some notion be formed of the
prospects of the close of the year. The influx of
specie from the gold producing countries continues
to exercise a favourable influence ; but, as the
principal part is withdrawn for Continental
purposes, the full benefit is not experienced. A
hope, however, is expressed in some quarters, that
these demands will shortly cease, in which case
there must speedily be an alteration for the better.
Money continues abundant in the Stock Ex-
change, and rates for continuation are, if anything,
lower than yesterday. The tone of markets gene-
rally is good, but the English Funds exhibit no
tendency to advance. Although the weather is
upon the whole satisfactory, still it does not inspire
operators with great encouragement, and this un-
certainty, coupled with the continued unfavourable
accounts from the Paris Bourse, tends to depress
the buoyancy of the markets. Transactions are
also of a limited amount.

LIVERPOOL, THURSDAY EVENING
The American mail steamship Atlantic, with New
York advioes of the 16th inst, arrived here this
morning. Her accounts from the Cotton districts
have not exercised any influence upon our own
market here. Business throughout the day was
somewhat tatne, the sales have been limited, and
prices of all descriptions remain without any
change. The sales reported are estimated 7,000
bales, of which speculators took 1000 American, and
exporters 500. The imports of the week are about
42,000 bales. According to Steward's Cotton
Circular, issued for the sailing of the Atlantic, the
crop prospects were good, and according to esti-
mates of the best informed parties, a yield of
300,000 bales was anticipated, Whilst on this
subject, we just mention that we observe that
our Manchester friends are again turning their
attention to the cultivation of Cotton on the
West Coast of Africa, from the statements put
forward by Mr. Thomas Clegg, a gentleman
who has taken a deep interest in the subject,
and made a series of experiments with the view of
testing that natural ability of that portion of the
globe to produce cotton. Mr. Clegg says :—" If
means of packing, and good cotton first be furnished,
and agencies established to purchase immediately,
with cash, all the cotton that is offered for sale, I
feel confident that an immense and yearly increas-
ing quantity of good serviceable cotton will be
produced on the West Coast of Africa, and that
both the labour, industry, and skill will be found
equal to the money supplied." This is undoubtedly
a matter of much importance to the country at
large, and it shows us that, if we only adopted the
means within our power, we can, in a short time,
place ourselves beyond the imperative necessity of
- depending upon the- United -States for the raw
material of our extensive cotton manufactures.
India and Australia, too, are capable, after a little
time, and the proper, culture of the cotton plant, of
sending us supplies upon a gigantic scale. Let
us hope that the day is not distant when the mills
of Lancashire will be fed with raw cotton, the
production of our numerous and fruitful colonies.
The transactions in the Liverpool Share Market
have been of a limited character Business opened
with an inactive feeling, and, subsequently, mani-
fested an easier tone, and closed with a declining
tendency. The last nominal quotations were as
follows :—Aberdeen, 13! 13a. Chester and Birk-
enhead, 158 161 Caledonian, 271 271. Chester
and Holyhead, 17 171. Eastern Counties, 9a nr.
Eaht Lancashire, 20a 208. Great Northern, 24
xd 241. Do. A, 101 10-1.1, Great Western, 64t- xd
65. Lancashire and Yorkshire Stock, 98 94
Liverpool, Crosby, and Southport, 18- 181. Lon-
don and North Western Stock, 105 xd 105 i.
Manchester, Sheffield, and Lincolnshire, 34 34-i.
Midland Stock, 811 xd 82 North British, 9-1 98.
-
North Staffordshire, 44 44d. South Eastern and
Dover, 221 22 7-16. York, Newcastle, and Berwick,
20 9-16 xd 20 11-16. York and North Midland,
29 xd 291. Leeds Capital Stock, 17i 18. Buffalo
and Lake Huron, ad par. Dutch Rhenish, 2 28p.
Great Western of Canada, 25 3-16 25 5-16. Ditto
New Shares, 2a 2 11-16 p. Great Luxembourg, 91
9 d.
According to our " wind and weather" rain still
seems to fall in various parts of the country, and
thereby retarding harvest operations. However,
we continue to receive reports from nearly all parts
of the country, stating that the extent of damage
done is but very trifling, and that nothing has yet
taken place which can shake the opinion of a liberal
and abundant harvest. The Manchester Corn
Market yesterday smypathised with that held
in Liverpool on Tuesday. This was to be
expected, seeing that all the foreign supplies
sent to that city came from Liverpool.
We have no desire to speculate as to the
probable course which the market for
breadstuffs will, assume. At present we think,
taking-every thing into consideration, the chances
are that prices will not assume a high range once
the_present harvest is fully gathered in. As to the
rumours about potatoe rot, the best answer to
such alarmists is, that as yet none of such are
brought to table, and we must, therefore, infer that
the general crop is sound, and there is an absence of
any taint in this most valuable of exculents. Whilst
on this subject, we may here quote the opinion
of our cotemporary, the Banffshire Journal :
Not for may years has the country been so thoroughly
cleared out of grain as at the present time. Consequently
the weather and prospects .of the crops are viewed with
singular interest—by many with anxiety. The past week
haVing been cold and rather unpropitious in the northern
districts of Scotland, where a good deal has yet to be done
in the way of maturing the crops, some apprehensions are
again rising as to lateness in several districts, and farmers
who have any remnants of grain are not at all inclined at
the present time to dispose of it. In the district markets
scarcely a parcel has been offered during the week. Barley
in particular is exceedingly scarce, several distillers having
great difficulty in getting supplies to enable them to manu-
facture spirits in quantities sufficient to meet their orders.
The new crop will be prepared for use as soon as it is all
ready for harvest, and it may even now be pretty fairly
conjectured that, considering the extent to which barley is
supplanted by wheat, and the early suppliea which must be
taken from the crop, that it won't be over plentiful in the
coming season, any more than in the one now nearly passed.
It is difficult at the present time to fix a price for barley,
money being paid by needy buyers according to the
circumstances in which they are placed as to their means

Consols are quoted at 9541 to 3 for money. and
951-, to for the 10th September. The Three
per Cents. Reduced have been dealt in at 95 to
the New Three per Cents. at 951 to 96k ; Ex-
chequer Bills at 1 ls. to 14s. 'preen. ; and Ex-
chequer Bonds at 1008 to Z. The closing prices
is 951 to Z for Consols for Account.
The chief feature in the London Share Market
to-day was the Settlement.

As regards prices the only feature of importance
was an unfavourable reaction from the rise which
was attained late yesterday afternoon in . Great
Western stock. This stock, which closed yesterdoy
at 66 to .4„ has been marked to-day 66 and 651 for
money. Berwick shares were more enquired for, and
most other descriptions steady. The following were
the closing prices :--Caledonian, 543 54. Eastern
Counties, 91 9i. East Lancashire, 82 84. Great
Northern, 974 94 Ditto A. 87. Great Western,
65Z. 658. Lancashire and Yorkshire, 974 981.
London and North Western, 1078 m. Man-
chester, Sheffield, and Lincolnshire, 341 341
Midland Stock, 83a 848. North British, 37 38.
South Eastern and Dover, 752 754. York, New-
castle, and Berwick, 84 85. York and North
Midland, 59 60.

Several railway meetings were held to-day. The
South Eastern company adopted the report issued,
and -agreed to a dividend of 3/. 3s. 4d. per cent. per
annum. The Newry and Enniskillen Company

met and agreed that a junction should be formed
with the Warrenpoint Company, provided the latter
were disposed to contribute their proper share
toWards doing so. The half-yearly meeting of the
Worcester and Hereford Company have also held
a meeting, and agreed to a dividend.

FRANCE.

(FROM OUR OWN CORRESPONDENT.)
PARIS, WEDNESDAY EVENING

I hear that it is not yet definitely settled whether
1r not the Emperor will visit Toulon, and other
eaports, or remain at Biarritz during the whole of

the Empress's stay.
Some sensation was created a few days back by the
seizure of the Presse, the Sieck, and other papers,
for publishing an address of congratulation to them-
selves, from some students, for their support of the
liberal cause in Italy. It was reported that the
papers in question would be prosecuted, and I
believe that a prosecution was actually commenced,
but I hear to-day that the only object of the
government is, if possible, to discover the names of
the students who signed the address.
The government, I am told, has received to day
a telegraphic despatch announcing the arrival of
General Serrano, the Spanish Ambassador at
Biarritz, and saying that he will probably present
his credentials to the Emperor at that place.
A Marseilles despatch announces a sad fact—
earthquakes in Algeria. Slight shocks, it appears,
were felt on the evening of the 21st, at Algiers,
stronger at Constantine and Bona, and some - de-
scribed as " truly terrible" at Philippeville. In the
last mentioned place there were not, it appears,
fewer than twenty-two shocks. The church steeple
was partly thrown down, a great many houses
were damaged, the hospitals had to be evacuated,
and the greater part of the population left the
town and encamped in the country. In the vicinity
of the town several French villages are stated to
have been destroyed.
The Bourse has been a little better to-day.
Constantinople accounts to the 20th have come
to hand. M. de Boutenieff, the new Russian
Ambassador, arrived there the day before,
and, in consequence, Mehemed Kepresli was
about to leave for Moscow to represent
the Sultan at the coronation of the Czar. The
actual surrender of Kars by the Russians took
place on the 4th. The Russians had blown up
the fortifications of Toultcha, and it was said that
in doing so had destroyed the town. They had
not, however, evacuated Bayazed. It is denied,
too, that they have completely quitted the Isle of
Serpents.
A Vienna despatch tells us that the Emperor of
Austria has offered a " pardon" to the Austrians
who served in the English German Legion with-
out permission, and that four hundred of them
have accepted of it.

of getting it.
Trade at Manchester is rather dull; this is
owing enterely to the unsettled state of the wea-
ther. The business gOing forward is limited, but

holders of both Goods and Yarns continue to
maintain late rates. . .

A London firm, extensively engaged as Ship
Brokers, publish the following remarks respecting
the Freight Market :
There is no material alteration in the freight market
since the date of our last report. There is some improvement
in the demand for screw steamers, especially for short pips,
the partial failure of the wheat crop in Spain having caused
large shipments of grain from hence, and for this service
steamers have been in demand. There is also enquiry for
this description of tonnage to St. Petersburg, and fir con-
veyance of troops to the Brazils, &c. The Emigration
Commissioners continue chartering two vessels a week, the
last engagements being with Liverpool ships, at 131 4s for
Sydney, and 14/ 4s Portland Bay. The Australian tracle. is
brisk, but the large number of vessels on the berth checks a
rise in freights, Good 'British.' ships- are in demand
at about 3/ to 3/ 5s per register ten. The , vessels
entered out and cleared for Australia last week comprise the
following :

Entered out.

Cleared.: ,!
Ship!. Tonnage,
3 1,155
1 374

Ships. Tonnage.

Adelaide .. •
Hobart Town
Moreton Bay
Port Phillip
Sydney

1 393

•-• ••••
1 795 ....

1 1,018
2 2,449

Total. 2 1,178 7 5,026 J
%Guano freights from the Chineas continue as last re-
ported. In the East India trade there is a languid demand.
BUs from Calcutta; 63s to 655, Bombay to United King-
dom; 80s to Continent; 80s to 84s from Akyab to United
Kingdom, or Continent; 100 s, :Moulmein (teak) ; 80s,
Mauritius, &c., are the nominal rates. Outwards the
rates are firm for coals, but without advance. From the
Tvne to Aden, £35 is quoted ; Sues, 460 ; Ceylon; £24 ;
Bombay, • £2O ' • Calcutta, £25 ; BinFapore, £2O, Bm.
During the last week the New Australian Company have
made contracts for coaling their vessels at Sydney,
King George's Sound, and Ceylon, and the contractors
are now chartering vessels to load at Cardiff or Newport,
at 35s to Sydney, 32s 6d King George's Island, and 21s
Ceylon. The arrangements for Aden, Suez, Malta, and
Alexandria arp not yet completed. In the Mediterranean
trade there is no iMprovement. The rates from the
Danube continue firm at 13s for small vessels ; but from
the Blank Sea and Azoff there is less doing, and 55s to 57s
6d from the former, with 105 extra from the latter, are
extreme rates. From Alexandria the only quotations are
for small vessels, under 200 tons, for which 6s 6d, beans,
may be obtained ; Messina, 25 9d to 3s per case lemons;
Sicily, 17s sulphur ; Leghorn, 29s timber ; 'Marseilles, 16s,
&c. West India timber freights are still firm, the rates
current being 85s from Minatitlan, 65s Belize, &c. From
Archangel the rates advance with the season, and 5s 3d
oats, Os 9d tar, 1058 deals to east coast, is freely offered.
There is also good enquiry for small vessels from St.
Petersburg town, at 6s 3d... heat, gax or hemp in pro-
portions ; outward cargoes of -lead from Newcastle being
also offered.
The market for American Securities has been
steady during the past—week. The demand foci
first class railway securities has been moderaie,
and sales have been more easily effected wherever
I holders were disposed to' make some concession.
This is what might be expected, as many of the
best class of bonds can be had- fully as cheap as
they could be bought in New York, and in some
cases rather cheaper. .
The Money Market is rather unsettled, which is
owing to a combination of causes, viz., the demand
occasioned by the progress of the harvest, the
supply necessary to meet the loan instalment
payable to-day, and the advances necessary to
•

NORTHERN TIMES.-LIVERPOOL, FRIDAY.