The Northern Daily Times.
Liverpool, Merseyside, England, 1856-10-18 00:00:00

--LIVERPOOL, SATURDAY.

MONETARY AND COMMERCIAL.

LIVERPOOL, FRIDAY EVENING.
Notwithstanding the stringent state of the Money
Market, arid the fact that the Bank of England
was compelled to give the " screw" another turn,
although not in the rate of discount, namely, a
determination to altogether refuse advances on
Government Securities, Exchequer Bills excepted;
this decision implies that the resources at the com-
mand of the Bank of England are altogether
unequal to the requirements of the Stock Exchange,
in addition to the ordinary and legitimate require-
ments of trade. It will require a few days to
elapse, ere the full effect of this additional
measure of restriction will manifest itself.
Meantime, the general appearance of the money
market is of such a discouraging character as to
require the utmost caution in every quarter, since
it Is totally uncertain when and what further mea-
sures of monetary restriction will be adopted.

Had it not been for the causes indicated above,
we should, in all probability, have had a somewhat
excited Cotton Market. In the early part of the
week it was stimulated by the continued advices
from America of a discouraging rvt`ure respecting
the growing crop, and large sales took place at
extreme sates; siubsequently, however, owing t
the stringency of the Money Market, business has
been checked, and less animation apparent.
Prices, notwithstanding, continue firm, and the
rates current this afternoon do not differ materially
from those quoted in last Friday's circulars. The
weeks transactions amountto 73,000, of which47,ooo
were American. The sales included 14,250 on
speculation, and 8,060 for export, leaving to the trade
50,690. The estimated stock of all descriptions are
put down at 553,340 bales, against 493,920 at same
date in 1851. This year the average quantity taken
weekly for consumption has been 41,500 bales,
against 40,180 to same time in 1855—being an
increase weekly of 1,320 bales, of which 450 are
American. The Committee's quotations for fair cot-
ton are the same as last week, viz., 61d for Uplands,
68d for Mobile, and 71c1 per lb for Orleans. At the
same time last year, they were-51d for Uplands,
61d for Mobile, and fild for Orleans. The market

Debit.
Proprietors' ea-

to-day was steady, and sales to the extent of 8,000
bales were effected, of which 2,000 were taken for
speculation and export. We should have previously
remarked that the imports this week were 25,766
bales, making a total of 2,065182 bales, against
1,770,304 to same date in 1855.

Although monetary matters are so unsatisfac-
tory, there is, if anything, more confidence on the
Liverpool Stock Exchange. To-day, the market
opened in actively, but afterwards improved, and
closed with a steady feeling. The following were
the closing rates as officially reported—Aber-
deen, 134 13?-4.. Chester and Birkenhead, 151
15k. Caledonian, 261 27. Chester and Holyhead,
151 160. Eastern Counties, 84 9. East
Lancashire, 196 20. Great Northern, 238 238
Ditto A, 10 101. Great Western, 63.1 631 Lanca-
shire and Yorkshire Stock, 94 941. Liverpool,
Crosby, and Southport, 18t 188. London and
North Western Stock, 100 100/. Manchester,
Sheffield, and Lincoln, 318 31-a. Midland Stock,
75175-1. North British, 81 9. North Staffordshire,
54 nd. South Eastern, 20i 201. York, New-
castle, and Berwick, 191 191 York and North
Midland, 266 27. Leeds .Capital Stock, 17 171
Buffalo and Lake Huron, I id. Dutch Rhenish,
-2-p. Great Western of Canada, 22 221. Ditto New
Shares, I lip. Great Luxembourg, 118 110.

Trieste

Pete' sburg

Madrid

Barcelona
Seville ..

According to advices which we have received
from London, there was an exceedingly brisk
demand for discount accommodation yesterday,
and this morning there is a continuance of the
pressure, consequently the measures recently
adopted by the Bank of England, by which it can
husband its resources, are proved to have been well
advised. Having the interest of the commercial
community in view, the directors have nothesitated
in limiting their accommodation to the speculative
public and the holders of stock in general ; but the
step taken yesterday of refusing to grant advances
on stock, Exchequer Bills excepted, is not likely
to be attended with much embarrassment on the
Stock Exchange. The joint stock banks, however,
who hold stock to a large extent, and have hitherto
obtained advances on them when necessity re-
quired, will, perhaps, be subjected to temporary
inconvenience, but not to a serious extent, as they
can easily resort to the market and effect sales.
The opinion is still expressed that an issue of
notes of small denomination will have to
be adopted both by the Banks of England and
France, but in times like the present all kinds of
plans are suggested, to which little attention should
be paid. The same idea was promulgated towards
the close of last year, when money commanded
quite as high terms as at present. In consequence
of a disposition on the part of operators to specu-
late for the rise, and the continued purchases on
account of the public, the Funds are firm, with a
buoyant market. Consols for Money were done at
91 913 ; for the 6th November they ruled at 911,
91g. The Three per Cents. Reduced are 898 90 ; and
the New Three per Cents•, 90 90t. Later in the day
there was a continuance of purchases of stock for
investment, and several large parcels have been
taken off the market. About 50,0001 was bought
in one operation this morning. The Funds, there-
fore, were firmer, and Consols about 91 to 911 for
Money, and 918 to for Account. The New
1 hrees were 90 to 901, but Exchequer Bills were
depressed, being is dis. to 4s prem. Bank Stock
is 210 213.

The transactions reported in the Railway Share
Market were very limited, and prices generally
had a downward tendency. We quote Eastern
Counties, 81. Great Northern 901. Great Western,
633,-. Lancashire and Yorkshire, 94 941. North
Western, 1001. South Western, 1011 102. Mid
land, 75 75k. North British, 35t. North Eastern,
Berwick, 76i 77k. North Eastern, York, 531 54 ;
and South Eastern, 661 671.

On the Paris Bourse, yesterday, the French
Funds opened with great buoyancy, and made a
further recovery during the day of if 25c in the 41-
per Cents. for money, 80c in the Three per Cents. for
ditto, and 30c for the account. This recovery was
chiefly attributed to the satisfactory settle-
ment of the account in the Share Market,
which turned out profitable to the buyers of stock.
Railway Shares improved. Bank of France
Stock was dealt in at a decline of 25f ; but
there was no mention made during the day of
this national establishment resolving to suspend
cash payments. Such a measure it is expected
would have the effect of raising the prices of pro-
visions, at present unusually dear ; and it is said
that the Government will hesitate before they
sanction this last resort to cheek the drain of
bullion from the country.
The Liverpool Produce Markets have been well
supplied during the week, and sales to a fair
extent have been effected in both sugar and coffee ;
the price of the former has advanced 6d to is per
cwt, whilst the rates paid for the latter are
extreme. Dyewoods maintain late rates, and a
moderate business is going forward in naval stores.
Considerable sales of palm oil are reported at 42/
to 431 lOs per ton. Other articles are steady, but
not in active demand. A good consumptive
demand has been experienced for wheat since
Friday last, and the rates then current have been
generally maintained. Flour has continued to
meet a ready sale, and all descriptions are fully as
dear as last week. Indian corn has attracted
rather more attention, and an improvement of
nearly is per quarter. Oats have gone up ld per
bushel, but oatmeal on the contrary has rather
given way. Egyptian beans meet a good sale, at a
further improvement of 6d to is per quarter.
The Bank of Amsterdam have raised their rate
of discount from 4i per cent, at which it was fixed
on the 23rd ult, to 5 per cent.
It is stated that the shipments of specie by the
Peninsular and Oriental steamer Indus, on the
20th inst, will reach about 450,0001. On this occa•
sion there is no mail to China. _ _

The steam-ship Colombo, with the heavy portion
of the East India and China mails, arrived at
Southampton this afternoon. She has 1,9001. in
specie. The West Indian mail steamer has also
arrived at Southampton. Her specie amounts to
1 060,000 dollars.
The prospectus has been issued of a London,
Harwich, and Continental Steam Company, with a
capital of 100,0001. in 101. shares. The object is, in
the first instance, to establish direct communica-
tion between Harwich and Rotterdam, and a traffic
arrangement has been made with the Eastern
Counties Railway for a term of years. Passengers
proceeding to India via Trieste by Harwich, Rot-
terdam, and the Dutch Rhenish Railway, will, it is

alleged, effect a saving of 48 hours as compared
with the route via Marseilles.
Relative to the market for American securities,
Messrs. D. Bell, Son, and Co., remark—" There
has been more activity in the market for American
securities during the past week, and both state
stocks and railroad bonds have been more freely
offered for sale."

BANK OF ENGLAND RETURNS.
An Account, pursuant to the Act 7th and Wh Victoria, cap

32, for the Week ending Oct. 10, 1856,
ISSUE DEPARTMENT.
Debit. Credit.
Notes issuedl £24,064,400 ! Government

Debt
Other securities
Gold Coin and
Bullion . .

£11,015,100
3,459,900

9,589,400

£24,064,400 I Total £24,064,400

BANKING DEPARTMENT.
Credit.
1 Government se-

pital
Rest
Public deposits 8,001,501 Notes 3,521,620
Other „ 9,318,912 Gold and silver
Seven day, and I coin
other bills

98,121

550,687

£36,500,309

£36,500,309

The foregoing bank returns show the following
results when compared with those of preceding
week :—Notes issued, decrease, 637,1451 bullion
in both departments, 10,140,067/. ; decrease,
644,1801.; rest, decrease, 64.7,010/. ; public deposits
increase, 242,0021.; other deposits, decrease
474,640/. ; seven days and other bills, increase
316/. ; on the credit side government securities
show a decrease of 85,3731; other securities remain
as last week ; notes unemployed, decrease, 253,8701;
actual circulation, 20,n42,780/.
COURSE OF EXCHANGE.—Tars DAY
Amsterdam 11 164IGibraltar

Ditto, three months .. 11 19i Leghorn
Rotterdam.
Antwerp .
Brussels

Hamburg
Altona
Paris

Ditto, three months .. 25 85 Lisbon .......
Marseilles..

Bordeaux
Frankfort-on-Maine .... 120 Buenos Ayres.... .....
Berlin .. — New York, 60 days' sight
Vienna .