The Northern Daily Times.
Liverpool, Merseyside, England, 1856-09-30 00:00:00

MONETARY AND COMMERCIAL.

LIVERPOOL, MONDAY EVENING

There was an animated and extensive demand
for Cotton to-day. The sales reached 12,000 bales,
of which speculators and exporters took 4,000.
Prices were, in some instances, per lb. dearer,
and the market closed with much firmness.
The Liverpool Share Market is still inactive,
and prices continue to decline. The dealings
to-day were chiefly in Lancashire and Yorkshire
Stocks. The following are sales as officially
) reported :—Caledonian, 274. Eastern Counties,
9. Lancashire and Yorkshire, 951,1, -I. 5, 5;4,
fti. London and North Western Stock, 1011 102,
Manchester, Sheffield, and Lincoln,
314, Midland Stock; 764, t t
Newcasi'le and Carlisle, 1011. North British,
94. South Eastern, 20,i, *-2-, In Local Shares
we note sales of Royal Insurance at 24 premium.
The present position of the Money Market is far
from being satisfactory. The raising of the rate
of discount to 9 per cent. at Hamburg has greatly
added to the uneasiness previously entertained
with regard to the future course of monetary affairs
throughout Europe. The various Continental
journals have called attention to the growing
scarcity of money, and to the growing inconvenience
it has occasioned to traders in general. At present
no expectations of improvem ,nt are entertained.
Indeed, there are parties who believe that we have
, oot yet passed the t ura nig point, and that we have
to pass through a more serious and unfavourable
crisis. During the present discouraging aspect of
the Money Market buyers of Consols hold alooff
with a view to purchasing at the lowest possible
point. Meanwhile, uncertainty as to how far the
financial embarrassments of the Continent may
effect our own position continues to exercise an
unfavourable influence upon the market, and to
induce speculative sales. Nevertheless, it is still
believed that the public not only refrain from
selling, but gradually absorb stock. To-day the
dealings were limited, and business was done in
Consols for Account at 031 to 931 and about the
same figure for transfer. The Globe of this evening
contains the following :—The position of monetary
affairs on the Continent, especially in Germany,
although perplexing, scarcely warrants the vague
feeling of alarm which in many quarters is unhesi-
tatingly expressed. There is no doubt a severe
pressure, and something approaching a money
crisis may be imminent; but if the course taken
by the various State Banks be equal to the emer-
gency, they may not be of such long continuance,
nor produce such disastrous effects on commercial
prosperity as many have predicted. The extraor-
dinary demand for silver certainly partakes of the
character of a mania ; and from the unprecedented
nature of the new movement generally, the
difficulty which is found in forming an opinion
of the future probable course of events
increases the uneasiness and depression. With
regard to our Money Market, there is a general
impression, which is no doubt correct, that it will
continue stringent for some time to come, and that
the minimum rate of discount will soon be advanced
per cent. ; but as that measure has been con-
sidered impending for some time past, its influence,
whenever it may be determined upon, will be
comparatively trifling. It is impossible to refer to
the Board of Trade returns just published, without
feeling some degree of confidence in the satisfac-
tory state of our commercial relations with all parts
of the world. It is evident that the vast expansion
of trade since the conclusion of the war has
contributed in no small degree to the prevailing
dearness of money. The value of the merchandise
exported during the past eight months, exceeds by
nearly 2,000,0001. that of the corresponding period
of 1855. The imports during the same period
considerably increased, and in the tonnage of
vessels employed in the foreign trade there has
been a material augmentation. Whatever may be
the state of trade on the other side of the Channel,
that of the United Kingdom, although not active,
is healthy and remunerative.

The Public Securities opened to-day at a decline
on Saturday's rates. The depression was chiefly
caused by the continued downward movement in
the French Funds and the tightness in the Money
Market. This is " Account day " in the Share
Market, and the rates of continuation to next
Account are heavier than they were on Saturday.
Consols opened at 921 921, and there were sellers
at 924 for the Account ; they are now 922- 921
Towards the close of business a firmer feeling
sprung np, and the general tone of the market
improved, Consols being offered at 9.2,:t to T-b for
transfer, and 924 to 92: for the Account. India
Stock was marked 229, Exchequer Bills Os to 12s
premium, and Exchequer Bonds 09',2,.
Foreign stocks were generally flat, with limited
transactions. The sales included Mexican at 21!;
Russian Four-and-a Half per Cents at 96-1 ;
Sardinian, for the 17th Oct., at 91; Spanish New
Deferred Three per Cents, 231- for the 17th Oct.;
Turkish Six per Cents, 99-,.; ; ditto for Account, 17th
Oct., at 1001, 1, and 1001; ditto, Guaranteed Four
per cents at 101.

The Railway Share Market, under the depressed
state of the Funds, experienced a decline of about
1 per cent in the leading Stocks. Great Western,
021 Great Northern, 92. London and North
Western, 101. London and Brighton, 104. Mid-
land, 76. Caledonian, 54f. North Eastern (Ber-
wick). 79i. North British, 37g. Great Western of
Canada, 231. Bengal, 3-16 prem. Calcutta, 1-10
dis. Ceylon, 13-16 prem. Euphrates, 3-16 prem ;
and Riga, !I prem. This being " settling day" in
the Share Market, operators were busy in closing
their accounts. The following are the ruling quo
tations :—Bank of Egypt, 3 dis. Ottoman Bank, 21
dis. London Discount Bank, dis. National
Discount Bank, prem ; and Crystal Palace Shares,
1 15-16.

The downward tendency of the Corn trade
continues ; at Mark-lane the trade was slow at our
late prices both for wheat and flour. Other articles
of the trade were in sluggish request.
We have not any new feature to notice in the
state ofour Foreign and Colonial Produce markets.
The usual Weekly Returns of the trade of the
Port of Liverpool were published in the Customs'
Bill of Entry this morning. The following are
the results :

Entered Inwards

Week ended
27th Sept., 1856
_ _ _

No. of Ships: Tonnage.
....92

27th Sept., 1855 ,
Increase in ships ...29. Increase in tonnage 26,914.
Cleared Outwards.

Weed enderi
27th Sept., 1856

No. of Ships. Tonnaze
....79 45,805

,
27th Sept., 1855 lO4 55,437
Decrease in 5hip5....25. Decrease in t0nnage....9,632,
Reported Inwards.
From let January. Ships. Tonnage.
27'h Sept., 1856..

27th Sept., 1855 3,169 .1,572,029
Increase in ships.. _64. Increase in tonnage ....271,259.
Owing to the inconvenience caused by the rapid
efflux of the French silver coin, the French mint
has undertaken to furnish the Bank of France with
two millions sterling in gold pieces of five francs.
This supply is to be furnished at the rate of 70,0001
oppererdaiteem. as a Apsallfiaait.ha.es t
ot htiisl me
easure g
inconvenienceit will
occa-
sioned to the retail trade of the country by the
scarcity of silver five-franc pieces. It forms,
however, only a species of interim measure, for it
is evident that changes of a much more sweeping
character must ere long be effected in the French
system of coinage.
The Paris Bourse closed on Saturday with great
heaviness, after a further decline in all securities,
which was partly caused by the reported fall in the
per
nCeeyn
at
nldteAnctceosufneltl,
English iosihF aboutundosn.
one
Thepei, T
cent.hrefeer
making a total decline during the week of about
271 per cent., and lowering the monetary value of
the French Funds to a price which they have not
attained since the war. Railway Shares left off at
the following decline on previous quotations :
Northern of France, 12-kf ; Eastern Old, 171 f; ditto
New, 15f; Lyons, 22M; Midland, 2if; Western of
France, 16f; Grand Central, I ; Ardennes, 223 f;
and Orleans, 10f. Credit Mobilier declined 25f.
The Oneida, the first ship belonging to the new,
line from England to Australia, will leave
Southampton for Melbourne and Sydney on the
18th of October, Captain Hyde, late of the
General Screw Company, being appointed to the
command. A suitable banquet will be prepared
by the Mayor on the 17th proximo, the day
previous to the departure of the first vessel, which
will be attended by the directors and other
gentlemen connected with the European and
Australian Company, and by many official profes-
sional persons interested in the progress of steam
navigation.