The Northern Daily Times.
Liverpool, Merseyside, England, 1857-03-16 00:00:00

THE NORTHERN TIMES.--LIVERPOOL, MONDAY.

MONETARY AND COMMERCIAL.

LIVERPOOL, Saturday Evening.
The demand for Cotton continues on a moderate
scale, at firm prices To day the sales were about
5 000 bales, including 1,000 on speculation and for
export.

The Liverpool Share Market was not so fit in to-
day, and with little business doing we have to notice a
slight decline in prices. The transactions were, Bir-
kenhead, Lancashire and Cheshire, G 8; Blackburn
84; Caledonian, 351 ; Eastern Counties, 103 ; Lan-
cashire and Yorkshire, 1013 ; London and North
Wf:stern, 104 k; Machester, Sheffi,dd, and Lincoln,
373 ; Midland, 831 ; North Staffordshire, 5, d ;
Dovers, 223, 23. 223 ; St. Helens Canal and Railway
D Shares, HI; Liverpool Borough Bank,
10 7.16, 101; North and South W►►les_ Bank,

6-1; Lancashire Insurance 3 7-10 p ; the busi-
ness done for the next account was—

Caledonian, 35 5-16, 1; Eastern Counties, 10 13 16;

Lancashire and Yorkshire Stock, 1014 ; London and
North Western, 1043 ; Manchester, Sheffield, and
Lincoln, 373, ; Midland Stock, 831; Dovers, 23;
York and North Midland, 313 The following
were the closing prices :-Blaelzburn, 84, 83 ; Ches
ter and Birkenhead, 68, 683 ; Caledonian, 353,
353; Chester and Holyhead, 183, 19 ; Eastern
Counties, 103, 11 ; East Lancashire, 98, 983 ;
tareat Northern, 233, 24 ; do. A shares, 10-1, 103 ;
Gha:at Western, 683, 691; Lancashire and York-
shire Stock, 1013, 1021; Liverpool, Crosby, and
Southport, 101, 191; London and North Western
Stet:lz, 104, xd 1043; ditto 8 shares 3-16, xd 3d ;
Manchester, Sheffield, and Lincoln, 37, 373 ; Mid-
land Stock, 831, 831 ; North British, 11 11-16 11
13 16; North Siaffordshire, 5,44 d ; South Eastern
and Dover, 22 16-16, 23; Scottish North Eastern,
133, 141 ; North Eastern-Berwick, 213, xd 213 ;
York and North Midland, 31, xd 313 ; Leeds capital
Stock, 194, 20 ; Buffalo and Lake Huron, 13,
11 p; Dutch Rhenish, 1-16, p; Great Western of
Canada, 261, 263; do. New Shares, 33. 3/p; Great'
Luxembourg, 103, 1031 ; Grand Trunk of Canada,
13, 131.
A very active demand continues to be experi-
enced for money, and full rates are in every
instance demanded. Although the enquiry at the
Stock Exchange has not been so extensive as pre
viously, through the diminution of speculation in
English. Stocks and Railway Shares, the demand
to provide Bank Notes for the purchase of Gold to
send to the Continent, has increased the pressure
which now has become almost permanent. The
high rates of money check the development of
trade, and prevent adventures, which would other-
wise be accompanied with a profit, from being
prosecuted, hence remarks are freely made
by the mercantile interests of the existing
anomalous situation of affairs. It is already
estimated that the steamer for India and
China, on the 20th, will take out as much as
£600,000 or £700.000, and the exchanges announced
by the Overland Mail from Calcutta, Bombay, and
Shanghai, are regarded - as unfavourable, and of a
nature to stimulate the shipments to those parts
Under these circumstances the enquiry for Money
• will be maintained, and if temporary ease were to
be experienced, the introduction of the Russian
railway scheme, the Turkish National Bank, the
International Bank, and other undertakings
requiring large subscriptions, would again
produce that stringency which has been the
leading characteristic of our financial position
• during the last six or seven months. We
regret to state that some very heavy failures
have been reported during the week, and
suspensions, it is feared, will take place. Very
serious loss has been incurred by tradesmen in
Southampton, through the failure of Messrs. Cop-
land and Barnes, of London, who had a contract
for victualling the Royal Mail Company's ships.
Large quantities of the victualling stores were
supplied to Messrs Copland and Barnes by the
Southampton tradesmen. A very great sensation
has also been caused in Southampton by another
failure, that of one of the most respectable men in
that town. With respect to the late Greek and
other failures, we learn that a committee of consul-
tation has been appointed to investigate the affairs
of Messrs. Franghiadi and Sons, and at present
their assets show an available amount of about
three or four shillings in the pound. The debts
and liabilities are £125,000, and the assets £48,000,
but as £29,000 of this amount depends upon
remittances from the house in Alexandria, whose
position is doubtful, it is feared the amount
involved may be partially sacrificed. The firm
commenced with a capital of £15,000, but the losses,
extending over a period of less than two years,
have been upwards of £30,000. A great number
of the creditors are in favour of winding up under
inspection, but two of them exhibited a disposition
to carry the estate into bankruptcy; it may be
eventually administered there. The house pos
sessed branches at Galatz, Alexandria, and Trieste,
and was thus enabled to enter into large trans-
actions. The estate of Messrs. P. Sinanides and
Co., although less indebted, does not show a more
satisfactory state of things, and a considerable
portion of the amount available also depends upon
the proceeds to be received from Alexandria.
The house in which they are interested in that
city stands indebted to the London firm to the
extent of 4200,000, but it is apprehended that
they are not in a position to pay it. If this
should prove the case the creditors will not be able
to obtain more than 2s. in the pound, the debts
and liabilities amounting to about £36,000. Specu-
lations in colonial produce, corn, cotton, and other
fluctuating artieles,•have occasioned these losses,
and in both cases the greater amount has been
incurred during the list twelve or eighteen months.
At present the affairs of Messrs. Swayne and Bovill
have been confided to the administrqtion of in-
spectors. If the whole of the assets in this case
could be realised at their valuation there would he
a surplus, but, as about 900,000/, is put down for
patents, it is difficeit to fix the amount. Apart
from this the statement to the creditors would
lead to the impression that a dividend of Ils. to
12s. may be secured.
The Copsol Market was rather stronger to7day,
and, with a fair demand for stock, an advance of
3 per cent. was established, closing firmly at 938
to 933 for money, anti 93 to 933 for the account.
Exchequer Bills were firm, at 3s premium.
The following list shows the fluctuations in
Consols during the past week :-
Lowest Highest Closing
prices. prices, prices.
Monday ..... . . MonoY • 931 934 933
Account . . 933 931 933
Tuesday Money . . 9317 934 93i
Account . . 931 934 931
Wednesday Money 93k 931 933
Account .. 93K 933 933
Thursday . Mono, .; 93a_
Account 9331 931 93.4
931 931
Friday Money 9 933
Account 03(2. 931- 99.1
Saturday Money . . 934 031 033
Account .. 933 933 933
" Making up" day in the Railway Share Market
is chiefly connected with the settlement. Today
was no exception. The current rates of " eontango '
have been I to 3 per cent on Great Western, 3 to 3
on South Western, 1-16 on Caledonian, 3 to 3 on
Midland, 1-16 to 3 on South Eastern, 3 on Great
Western, 3 0 on puicaehire and Yorkshire, and 3
to 3 on Brighton. With regard to the prices at
which business was done, there -is no important
movement to report, but they were generally lower.
The heavy shares, including Great Western, North
Western, and South Western, receded about 3, but
late in the day more firmness was apparent. Great
Nortliern ruled steady, and North British, as a
few others, closed with increased firmness. The
Colonial lines were quiet, but their value was fully
supported.
The following were the closing prices :-
Amberga.te, Nottingham, and East Junction, 43, 43
ex d; Bristol and Exeter, 90, 92 ex d; Caledonian,
701 704 ; Chester and Holyhead, 37, 38 ; Eastern
Counties 103, 103: East Lancashire, 98, 99 ;
Edinburgh and Glasgow, 56, 57 ex d ; Edinburgh.
Perth and Dundee, 363, 373; Great Northern, 95,
96; Great Southern and Western (Ireland), 103,
105 ; Great Western, 68, 683 ex d ; Lancaster
and Carlisle 72, 76 Lancashire and Yorkshire,
1013, 10l4; London, Brighton end Soilth Cow,