The Northern Daily Times.
Liverpool, Merseyside, England, 1856-12-29 00:00:00

MONETARY AND cOMMERC;AL.

The Money Market remains in much the.same
position as noticed in our remarks on Friday
evening. The demand for commercial purposes is
still large, so that there is not any relaxation in the
rates of discount, nevertheless the market for
English securi ties manifests considerable buoyancy,
although the Bank of England return gazetted on
Friday evening, exhibits a decline in the stock of
bullion, and a large addition to the other securities
The cause of those alterations, however, is well
understood, and, as there is a disposition to close
outstanding hear accounts, the quotations are
firmer. Besides this the Bank of France will soon
make a further relaxation in their discount restric-
tions. The money market at Hamburg is becoming
easier, as the rate of interest is now 61- to GI- per
cent, instead of 7 to 11- per cent, and the prospect
of financial affairs in the ciuntry is very encou-
ragin..t, so that there is nothing to check an upward
movement in prices.
On Saturday the transactions in Consuls were
soinawhat limited, 'out the prices ruled rather
buoyant. The tendency of the markets appeared
so decidedly in the direction of improvement, that
the Bears have in most instances closed their ac-
counts, but speculation continues very quiet. A
more confident feeling with regard to political
affairs, together with an expectation that the di-
rectors of the B tnk of France will soon extend
their discount operations to bills of 00 days, also
gives support to the market. Consols opened at.
94,1- but afterwards they rose to 941 f. This
point, howorer, was not maintained, the latest
quotations " after hours" being 94 The New
Three per Cents were 9-ti- to 94!-, and the Reduced
94 to 942 Exchequer Bills were is discount to
2s premium
The subjoined table shows the fluctuations in
Console during the past week :
Lowest Highest Closing
prices. prices. prices.
Monday ... .Money ... shut
Account .. 931 931 931
Tuesday ......Money .. shut
Account 932- 933 933
Wednesday... Money .. 911 shut
Account 931-, 94 94
Thursday ..Money .. shut
Account Christmas day.
Friday Money ... shut
Account .. 94 94-1 94k
Saturday .. Money ... shut
Account ... 941; 942 941

The dealings in the London Share Market
during Saturday were limited. but prices generally
were without material alteration and ruled rather
firm. Bristol and Exeter advanced 1, Great
Northern to 1, Great Western Lancashire and
Yorkshire is and Midland 1 The others were
generally at about previous rates. The only trans-
actions in the Foreign Market were in Great
Luxembourg at 54, and Sambre and Meuse at 91
The Grand Trunk of Canada, and the Great Western
of Canada wereat rather enhanced values. The North
of Holland railway shares are about 4. to premium.
The transactions of the day embrace the following:—
Bristol and Exeter, 94 3 ; Caledonian, 631 ; East
Anglian, 19 ; Eastern Counties, 91 ; East Lan-
cashire, 92; Edinburgh and Glasgow, 54 1; Great
Northern, 204, H, 1 ; Great Western, 691 ; Lan-
cashire and Yorkshire, 97i 4 ; London and North
Western, 106 51 ; London and South Western,
107 ; Manchester, Sheffield, and Lincolnshire, 34
Midland, 822, d, , ; Newport, Abergavenny, and
Hereford, 14; North Eastern Extension, 191 11;
North Eastern—York, 60 591 , North London, 06i ;
North Staffordshire, 121 Z ; Scottish Midland
Stock, 72 ; South Eastern, 731 ; South Wales,
82 11.
There was very little business transacted in our
local Share market on Saturday, but there was a
better feeling, and prices were a point higher. The
sales reported comprised :—Caledonian, 311
Eastern Counties, 91. London and North Western,
1051. Midland Counties, 82! 1. South Eastern
Stock, 224 2 L. The market closed at its best
point.
The traffic returns of railways in the United
Kingdom for the week ending Dee. 20, amounted
to 420,400/, and for the corresponding period of
last year to 416.7371, showing an increase of
3,663/. The gross receipts for the eight railways
having their terminus in the metropolis amounted,
for the week ending as above, to 181,444/, and for
the corresponding week of last year to 191,7281
showing a decrease of 10,2841. The decrease on
the Eastern Counties amounted to 5501; on the
Great Western to 3,3361; on the London and
North Western to 4 2201; on the London, Brighton,
and south Coast, to 1291; on the London and
South Western, to 2.9761; and on the South
Eastern, to 3481; total, 11,5591. But from this
must be deducted the increase on the Great
Northern of 1,1601, and on the London and
Blackwell, 1151, leaving the decrease as above,
10,2841. The receipts on the other lines in the
United Kingdom amounted to 238,9561, and for the
corresponding pericei of 1855, to 225,0091; showing
an increase of 13,9471 in the receipts of these lines,
from which must be deducted the decrease on the
metropolitan lines, leaving the total increase 3.6631
as compared with the corresponding week of 1855.
During the past week the imports of specie
amounted 250,0001, viz., by the Persia, from New
York, 178,0001; by the Ericsson, from New York,
10,0001; by the Columbia, from Alexandria, 28,0001;
and two cases of specie from Alexandria, by the
Candia. In the same period the exports were limited
to 10,0001 by the Ilermaun, to New York The
bar silver brought by the last West India steamer
has been sold at 610 per ounce, and the price is
now rather firmer
Owing to the intervention of the Christmas holi-
days, trade in the manufacturing districts has been
rather dull and restricted. At Manchester the
attendance on 'Change has been scanty, and every
one apparently more anxious to escape the discom-
forts of the weather than to negociate purchases
or sales. And good reason there is for indifference
on the latter subject; because the heavy transac-
tions of the last five or six weeks have left compa•
ratively little to work upon, and made it a matter
of prudence both with buyers and sellers ti stay
their hands for a while. For the season of the year,
there is, indeed, a remarkable lightness of stocks and
fulness of contracts in the hands of spinners and
manufacturers, especially the former; And hence it
is that we have the unusual occurrence of a consider-
able advance in prices in the month of December.
Business both at Leeds and Halifax has been very
quiet, but prices are steady. From Bradford we
learn that there has been a very insignificant
amount of business transacted in the worsted trade.
There were very few merchants present at our..
market on Wednesday. and a small number of
pieces changed hands. In all kinds of wools there
has been a dull demand ; combing wools were held
for later prices, and short descriptions were not
much enquired after. In yarns a fair trade has
been done for home use, at full rates ; and spinners
for export are generally well employed working out
their orders. The trade meeting of the ironmasters of
this district, preliminary to the ensuing quarterly
course, was held at the Swan Hotel at Wolverhamp-
ton on Wednesday afternoon. There was an unusu-
ally full attendance. Since the commencement of
last week a great number of orders have come in for
all descriptions of finished iron ; the leading houses
are most of them full, and the second class estab-
lishments have participated in the improvement
which has taken place. An occurrence of this
kind within a fortnight of the end of the year is
almost without precedent, especially having in
view the prospect of a reduction of 1/ per ton. It
is known that there aro a vast number of orders to
bo given out, and which were held back only until
the result of this meeting was delayed. It may be
noticed, too, that the improvement which has taken
place is not confined to Staffordshire; Welsh bars
are about 12s 6d per ton dearer at Cardiff than
they were three weeks since. The Welsh iron
masters generally are fuller of orders, especially foi
rails ; and there aro indications of an improvement,
in the demand for rails for Staffordshire. These
undoubtedly favourable features in the aspect of
the trade brought about a feeling adverse to any
reduction of prices; and a resolution was agreed
to, to the effect that the old prices be adhered to,
This was carried with two dissentients only. The
present quotations are—for bars, 9/. ; hoops, 91. 10s
to 101. ; and sheets, 10/. I.os to ill. per ton; these

I rates having prevailed since the preliminaiy meet-
ing held at the end of September, 1855. This
resolve, to adhere .to the. old rates has led to an
abandonment of the contemplated reduction of the
wages of the colliers and stone-getters in the
Wolverhampton district.. , Mine pigs are from 5s to
7s 6d dearer than they were a month ago ; at that
time pigs of very fair make were sold at 31 12s 6d ;
these' are now called 41 per ten. ' Some of the
large houses are reported to have bought an
immense quantity at the low prices; and although
there are a very large number of furnaces in blast.
the stocks with producers are small. The state of
trade in the town has undergone no change what-
ever since our last week's report. The celebrated
Pontypool works, in South Wales, immensely rich
in material and in the means of production, have
just changed hands. The new proprietors are
Messrs. Darby, of the Ebbw Vale Company.
The official returns relating to trade and naviga
tion; for the month ending the 30th Nov., 1856,
have been published. From these, it appears that
the total declared value of exports from the United
Kingdom for the month, was 10,272,0751, being an
increase of 1,512,2261. compared with those of the
like month in 1855. The increase is perceptible
in beer and ale, butter, coals and culm, cotton
I manufactures, earthenware, glass manufactures,
haberdashery and millinery, hardwares and cut-
' lery, linen manufactures, linen yarn, machinery,
thrown silk, stationery, refined sugar, sheep and
lambs' wool, woollen and worsted manufactures,
and woollon and worsted yarn ; but there was a
falling off in leather, silk manufactures, soap, and
cordage. The importations of the principal articles
were larger as respects pearl ashes, animal char-
coal, brimstone, cocoa, wheat, barley, beans, Indian
corn, flour, oatmeal, raw cotton, cotton yarn, dyeing
stuffs, flax, currants, hemp, hides, leather manu-
factures, linen manufactures, palm oil, potatoes.
provisions, raw silk, spices, brandy, rice, saltpetre,
unrefined sugar, tallow, tea, timber, wine, and
sheep and lambs' wool. There was a diminution
in live animals, bark, coffee, needlework, oranges
and lemons, raisins, mahogany, palm and cocoa
nut oils, opium, and quicksilver.
The Shipping accounts exhibit an increase in the
amount of tonnage employed in the foreign trade
of the United Kingdom of 106,720 for the entries
inwards, and 69,005 for the clearances outwards.
In the coasting trade 164,519 tons more were
employed for the entries inwards, but there was
a decrease of 19,467 tons in the clearances out-
wards, as compared with the corresponding month
of 1855.

Tenders will be received by the Admiralty on the
30th inst. for the conveyance of stores (ball car-
tridges, medical stores, powder, combustibles,
provisions, masts, &c.) from the river Thames to
Auckland, Honduras, Jamaica, Antigua, Demerara,
Ascension, Cape Town, Graham's Town, Hong
Kong, Corfu, and St. Helena.
The Emigration Commissioners will receive
tenders on the Ist of January for the hire of ships,
to proceed respectively to Sydney and Geelong
These vessels must be ready for passengers between
the 10th and 17th of February.
The East India Company will receive tenders on
the 2nd of January for the convey/taco, in a vessel
of about 500 tons register, of 250 tone of dead
weight, and 200 tons of measurable goods, from
England to Madras ; als,), on the same day, for the
conveyance, in a vessel registering about 500 tons,
of 100 tons of galvanised iron wire, from Liverpool
to Calcutta.

By the Arabia, which arrived here yesterday
forenoon, we hive New York advices of the 16th
inst. Money was in active detnand at New York,
and the rate for loans on call was 7 per cent. Bills
were without change, ruling at 8 to 10 per cent,
according to length and signature. A large busi.
nest was done in Foreign Exchanges for the
Arabia. Bills on London were heavy, at I per cent
decline, the chief sales being made at 1081 to 109.
The state of the New York markets is thus noticed
in the Herald's " City Article :"—" The bank move-
ment last week was very extraorlinary. In the
face of a decrease in all other departments we have
an increase in discounts of nearly one and a half
million of dollars. The aggregate line of discounts
now is greater than we have reported since the 27th
of Sept. last, while the specie reserve is less than it
was when the loans were six million smaller. The
bank movement at present is by no means a healthy
one. An increase in discounts without a corre-
sponding increase in deposits, is by no means
desirable, and very seldom exhibited. The decrease
in specie last week is greater than that reported in
any one week throughout the whole of the con-
traction. In proportion to the discount line, the
specie reserve is at a very low point. The Money
Market must be sensibly affected by the movements
of specie. The stringency is increasing, and is likely
to be severe before the turning point is reached. The
Cotton Market at New York was firm, and a mode-
rate business going forward ; prices also have had
an upwa.zd tendency. According to the circular of
Mr. W. P. Wright, we have the following statement
respecting the movements of the Cotton trade :
Exports Stock
Receipts. to Great Britain. on hand.
1556 ...1,068,000 212,000 550,000
1855. ..1,108,000 387,000 464,000

From these figures it will be perceived that the
decrease at the ports compared with last year is
40,000 bales ; compared with 1852, 59,000. Decrease
in the exports to Great Britain, 175,000; compared
with 1852, 199,000 ; other foreign ports, 47,000 ;
compared with 1852, 7,000.

The Breadstuffs trade was quite vigorous. Flour
was freely purchased at rising prices. A lively
demand existed for wheat and corn at a slight im
provement in value The amount of each of these,
available to buyers, was very moderate, Provisions
were in fair request at, however, somewhat irregular
rates. Freights were quoted heavy, though the
demand for ship-room was very fair. The Asia
brought 268,932 dols specie, on freight.
We have late commercial advices from Havanah,
from which we learn that Sugar had improved in
price, the'crop which was to he gathered in, promised
to be an abundant one, and some decline had taken
place in making contracts for the coming delivery.
The lhst report of the markets in that city state
that business in produce was active and shipments
quite large for the season. Sugars advanced
another fraction in the lower classes for merchant
able goods. Contracts for the new crop reach
56,000 boxes from second hands at $23 to $24 per
box of 400 lbs net, equal to $5 to $6 ql, through
all classes and qualities of the product of several
estates of good reputation. Our quotations are
are firm, for whites through $7 to $B2 per ql (100
lbs), yellows equal to Dutch standard, Nos. 18 to
'2O, $6 to $7 ; Nos. 15 to 17, $6 to $6l; Nos. 13 to
14, $52 to $5l do ; browns do, Nos. 11 and 12 at $5
to $5l; Cucuruchos do, Nos. 8 to 10 at $4-a to $4l;
and for Muscovado new crop many bargains closed
for early delivery at s4f to $5 per ql. Stock 75,000
boxes. Molasses, contracts for new crop at Brs per
keg of 5i gal. Exchange—London n to 4 p.m.
hero observe that an attempt is being made at
Washington to have sugar put upon the free list ;
but it is opposed by the Secretary of the Treasury
on the ground that some arrangement must be
made with the government of Cuba that the abro-
gation of the duty here shall not have the effect of
increasing the export duty in Cuba. In this the
Secretary Is in error. The export duty on sugar
in Cuba is a specific one of 871 cents. per box, and
a change in our duties or prise would not affect
the duty in Cuba iu any manner.

STEAM COMMUNICATION WITEI CANADA.—In a letter to
the Times, " Canada," after arguing the matter at great
length, sums up thus : " We want a weekly line of steamers
and must have it now, if we are to secure a trade of vast
importance to our future prosperity, and which will not
wait for us. We ask from you a contribution but equal
to what we ourselves will give, and we are content that it
shall end when your subsidy to the foreign ports shall cease.
If you will not do this, the world will see the spectacle of
the parent not only building up the trade and revenue of a
foreign nation in preference to that of its own offspring, but
contributing, by pecuniary aid, to withdraw from it that
very trade which it is straining every nerve to attract. You
are aware that in the public works of Canada are invest' d
£5,700,000 of Engli4h money. To render these more
productive an effort at the present juncture must be made.
S hall we have imperial co operation, or its active diacour
ag ement "