The Northern Daily Times.
Liverpool, Merseyside, England, 1856-10-25 00:00:00

MONETARY AND COMMERCIAL,

LIVERPOOL, FRIDAY EVENING

The Cotton Market keeps firm, and sellers have
still the advantage in price. To-day the sales
reached 12,000 bales, of which speculators and
exporters took 4,000. The recent accounts from
the United States, respecting the growing crops,
have induced a strong speculative demand, and
established an advance during the early part of
the week of ld to id per lb. upon the current
qualities of American, and I Per lb. on Brazil,
Egyptian, and Surat. Subsequently, the Baltic's
advices gave increased tone to the market, an ex-
tensive business was transacted, and, compared with
last week's circulars, the advance has been id upon
American, id to 7-id on Brazil, and -id to id on
Surat. The authorised quotations for " fair"
Cotton this afternoon are, for Uplands 74-d, Mobile
711, and New Orleans 71(1 per lb. Middling Up-
lands and Mobile, 61 ; middling Orleans, 6 15-161
per lb. The week's transactions sum up 129,890
bales, of which speculators took 59,160, exporters
12,150, leaving a balance of 58,580 to the trade
The week's imports only reach 15,357 bales ; but
during the year there is an increase of 284,050
bal,-s- The estimated stocks now on hand are
488,850. against 479,880 at same dote in 1855.
Should the accounts from the United States con-
tinue of the same unfiisonrable tenor as those
received here during tha last fortnight, we may
anticipate a rapirlly advancing market. The
following is a statement of Cotton at sea from
Bombay, to 12th ultimo :—To London, 8;479: at
same period last year, 18,349. To Liverpool,
57,214; at same period last year, 102,002. To
Clyde and Hull, 3,785 ; at same period in 1855,
905

-The Liverpool Share Market has been much the
sarno as yesterday. The dealings were chiefly
in heavy stocks. Among the latest sales were
Manchester, Sheffield, and Lincoln 331 33,1. Mid-
land Stock, 781. South Eastern and Dover, 20 201.
At the close of business there was a rather easier
feeling, and the latest quotations were as fol
lows:—Aberdeen, 12 121. Chester and Birken-
head, 151 152. Caledonian, 27 9-16 27a. Chester
and Holyhead, 161 17. Eastern Counties, 91 16
9,1. East Lancashire, 20i 201. Great Northern,
231 23a. Ditto, A shares, 10 101. Great Western,
641 64k Lancashire and Yorkshire Stock, 941
941. Liverpool, Crosby, and Southport, 18 181
London and North Western Stock, 1021; 103
Manchester, Sheffield, and Lincoln, 331- 33k.
Midland Stock, 781 781. North British, 91 91.
North Staffordshire, 5/ sad. South Eastern and
Dover, 20 1146 20 13-16. York, Newcastle, and
Berwick, 19a 20. York and North Midland, 281
282. Leeds Capital Stock, 17 171. Buffalo and
Lake Huron, 1 id. Dutch Rhenish, 11 lip. Great
Western of Canada, 23 13-16 23 15-16. Ditto,
New Shares, 21 21p. Great Luxembourg, 111
lOid.

Although there is rather less demand for dis-
count se mmmodation, • the supply of Money on
offer is by no means liberal. Money on the Lon-
don Stock Exchange continues easy for loans from
day to day, owing to the investments of the public,
but higher rates are exacted for longer dates.
One of the London papers of this evening contains
the following, in reference to the state of the
Money Market :—" Neither the continued stringency
of the Money Market, nor the revival of unfavour-
able reports regarding the course of financial affairs
in Paris, appears to have power to check invest
ments. The immediate supply of government
stock comes chiefly from banking sources, and was
increased yesterday by several sales. It is under-
stood, however, that the Bank of England and
many other parties who have lately added to
the supply of stock afloat in the market,
have preferred to lend it instead of selling it.
Prima facie this policy seems to indicite that the
well-informed parties in question consider the
existing pressure merely temporary. It may also
be pointed out that as the public are steadily
absorbing this stock, which is only lent to the
Stock Exchange, a much firmer foundation is
being gradually given to the market; for it is not
unreasonable to suppose that when the present
exceptional phase of the money market shall have
passed over, the withdrawal of stock by the lenders
will occasion considerable scarcity at a period
when the tendency of prices will probably be
strongly upwards. It is essential to remember
that. the rroatinn of fresh govornmont otock line
now ceased."

The Public Securities showed a little flatness
at one period this morning, but afterwards an
improved feeling set in, and the closing rates of
yesterday were realised. Consols for the next
Account were first done at 924, receded to 922, and
afterwards were marked at 92w, and 92/. For
Transfer the opening rates were 9277 I, after which
th3y fell to 92w, but subsequently realised 921
closing firm. The new Three per Cents have
been dealt in at 911, 92, and the Reduced 911 1.
Exchequer Bills were flat at ss. premium.
Foreign Securities are generally firm. Turkish
Four per Cents. are 99,t 991. and the Six per Cents ,
90/. Russian Five per Cents. are marked 106
107 ; and Spanish New Deferred 24 Dutch Four
per Cents. have been dealt in at 941.
The London Railway Share Market has been
steady, but a fair business is reported in mos-. of
the principal lines, particularly Lancashire and
Yorkshire, and Midland, Bristol, and Exeter, are
quoted 93. Caledonian, 55k. Eastern Counties,
94. Edinburgh and Glasgow, 51/ 514. Edinburgh,
Perth, and Dundee, 331. Great Western, 648
Lancashire and Yorkshire, 9477 951. Brighton, 106/
North Western, 1021 103. South Western, 104/
1041. Manchester, Sheffield, and Lincoln, 338.
Midland, 78 781. North Eastern, Berwick, 80 801;
and ditto, York, 56,1 57.
The market for American Securities still con-
tinues active, and daring, the past week some
considerable amounts of the best State and City
Bonds have been offered for sale, for which pur-
chasers have been readily found. The business in
the various Railroad Bonds and Shares has been
exceedingly limited, and there is at present more
disposition to sell than to buy them.
The Liverpool Foreign and Colonial Produce
Markets have been very steady during the past
week. The demand for Sugar has continued
extremely active, and prices have again advanced
from 6d to is per ewt. The sales comprise 410
hhds and 440 bags West India, 4,500 bags Benares
to arrive at 50s to 51s, 6,000 bags Bengal on the
spot, consisting of grainy from 51s to 545, Benares
at 51s, and Dates from 48s to 495, 1,600 mats
Mauritius at 45s Od, 80 cases and 11,000 bags
Brazil from 29s to 31s, with a cargo of 300 tons
brown Bahia, now off the coast, at 32s landed, for
an outport, 100 boxes Havana at 33s 6d in bond,
and 200. tons clayed Manilla to arrive at 45s 6d
per cwt duty paid and delivered in store. The
sales of Molasses consist of 800 puns clayed Cuba
at 21s 6d per cwt, chiefly from the quay. The
demand for Coffee is good, and full prices are
readily obtained for • anything brought forward ;
the sales are 70 tierces Jamaica at 60s to 925, 1,400
bags Rio at 42s to 465, and a few bags Santos at
53s per cwt.' Rice has been in moderate demand,
but as holders are firm no change has taken place
in the value ; 6,500 bags Bengal sold at Os 3d for
middling Ballam, Os 9d for broken white, lOs
to Ils for low middling to middling, and 13s for
good white ; a small parcel of pinky Madras
brought Os 9d ; of Arracan, 3,000 bags sold at 98
9d per cwt for good old Necransie. The st!ies of
all kinds of rum are. about 130 puns, without

change in price. Tea has been in active demand
during- the week, and prices of Congous
are on the advance. Both the trade and
speculators operate rather freely. A moderate
amount of business has been transacted.
Naval Stores—Palm Oil has been in active
request, some 2,000 tons on the spot, and 1,200
tons to arrive were sold at 42/. 10s. to 431. per ton.
Tallow is still in good request at 555. 6d. to 565. for
Y. C. and South American. Although the demand
for all kinds of Rice is only moderate, holders
are firmer at late prices.
We subjoin the following remarks from the
Circular of Messrs. Browne, Hunter, and Co.,
issued this evening
In consequence of the continued efflux of bullion, and the
adverse state of all the Continental exchanges, the directors
of the Bank of England on the Ist instant were compelled
to raise their minimum rate of discount from 4i to 6 per
cent., but as this measure did not sufDce to arrest the drain
of gold, a further advance was mlde on the 6th instant to
6 per cent. on bills maturing within sixty days, and to 7
per cent. on those having longer run ; and on the 15th inst.
they further adopted a more stringent course of refusing to
make loans upon any government securities except Exchequer
Bills Had these sudden changes, which assume additional
importance from the circumstance of their having taken
place out of the customary course of the directors' weekly
board days, been attributable to any unfavourable position