The Northern Daily Times.
Liverpool, Merseyside, England, 1856-07-16 00:00:00

-^_

IMPORTANT TO THE CORN TRADE.—A very important
trial to the corn trade took place in Dublin last week,
between a foreign house represented by Messrs. James
Pim and Co., and Messrs. Macmullen and Shaw, both
extensive houses in the corn trade, and arose upon
what has now become an extensive trade—the sale of
float at prices covering cost, freight,

foreign eargoe,

and insurance. In this instance the price was 33s for
every quarter delivered in good condition. The cargo
having arrived in a heated condition was, nevertheless,
it would appear, taken by the defendants, in order, as
they allege, to ascertain if, when cool, it would recover
—as corn frequently does. A portion which was
actually damaged was kept by the sellers when landing.
The cargo did, in fact, prove to be out of condition, as
appeared to be admitted on both sides, and the only
question appeared to be, whether by taking the delivery
the purchaser had shut himself out from redress.
Messrs. Pim, it appeared, offered to leave this part of
the question to arbitration, but refused to arbitrate the
mercantile question, as to whether the corn was, in fact,
according to contract, The jury found that, according
to custom, the purchasers were bound to accept or reject
the cargo at the vessel, and had therefore taken a final
delivery. - The judge thereupon directed a verdict for
the plaintiffs. The decision, if upheld, is a most im-
portant one as regards this class of transactions both in
reference to corn and to any other article similarly
circumstanced. It would seem that if the buyer had
rejected the corn, and it on being landed, came into con.
dition, he would have been compelled to take it, and pay
all expenses of storage, &c., while in the present
instance he is compelled to pay sound price for what
is, in fact, a damaged or deteriorated article. There
was no imputation on the defendant that the corn had
not been properly treated, and it is, therefore, plain that
the equity of the case was with them, but the effect
of the decision on futtire contracts will be important.
Holders of contracts, with condition guaranteed, must
be careful not to accept delivery where the quality is
doubtful, without a written undertaking that their doing
so is not to preclude them afterwards from rejecting it
should it not come into condition, and another result
will be that corn in store will have a decided preference
over floating cargoes liable to so many contingencies.
It seems a pity that a dispute of this kind could not be
determined by a committee of the Corn Exchange,
especially where both parties are members of the Ex.
change, instead of rushing into litigation, where the
question must necessarily be decided by parties only
imperfectly acquainted with the peculiar features of the
trade.

LIVERPOOL BANKRUPTCY COURT.—Yesterday, James
Seddon, chimney-piece and marble manufacturer, of
Liverpool, passed his last examination before Mr. Com.
missioner Perry, and a day was fixed for his certificate

meeting,

The Montreal Ocean Steamship Company's Screw
Steamer Indian, Captain Jones, sails this morning with
the Canadian mails, a full cargo, and 180 passengers. The
Bishop of Montreal, and Sir Wm. Eyre and suite, go out
in this vessel.

FATAL ACCIDENT -On the day of the cup race at Aintree,
a man named James M'Donnell was knocked down and
run over on the course, and so seriously injured that he
died yesterday in the Northern Hospital from the effects.
of ' This day an inquest will be held on the body.

EARLY CLOSING ASSOCIATION.—Forty-one sermons were
y -last in places of worship, in and

ironnd the metropolis, on the religious an(
vantages that would accrue from a general earlier suspension
of business, and the adoption of a Saturday half-holiday
where practicable.

social ad-

THE LATE COLLISION IN THE RIVER—ANOTHER DEATH.
—Yesterday, a man named Darkin, one of the unfortunate
persons who was injured on hoard the steamboat Mail,
anti who was in the Northern Hospital, died in that house,
although every attention was paid to his case. ath
was the result of the injuries he had received. An inquest
will be held ou the body this day.
SAINT SWITHIN.—That most respectable Saint—S within
—who is remarkable for his irrigatory powers, and whose
annual, or birth, or death day, was, according to ancient
mythology, celebrated on yesterday, conducted himself in
the very driest manner, for " from morn to dewy e'en," he
never supt a drop, and according to the chronicles, we are
not to have any " heavy wet" for the next forty days—a
desideratum most devoutly to be wished for by all the
farmers in the United Kingdom. At present there is every
sppeatance of the prophecy being fulfilled, for the weather
is remarkably fine and warm.

DEATH FROM TEASING A BULL.—At Little Hulton, on
Saturday last, Mr Rutter held an inquest in a case where
death had ensued, to a person of weak intellect, named
Bate, from injuries received from a bull. Bate had got a
fancy for teasing the bull, which was rather quiet than
otherwise, by throwing stones at it. On one occasion,
abort a week ago, when doing this, in the same field, the
bull got at him before he could make his escape over the
fence. Getting him upon the ground, he knelt upon him,
arid began to gore him with his horns. Bate of course
cried out vigorously, and this had the effect of bringing
round him a number of cows which were grazing in the
field. Whether from some remonstrance on their part, or
whether out of respect for the presence of the milder sex,
certa'n it is that the bull desisted, and allowed Bate an
opportunity of retiring. The poor fellow, however, had
received injuries which terminated fatally. The jury
returned a verdict of " accidental death."

THE LIFI4-130kT AT FISIIGUAHD.—On Monday morning,
the 9.. h instant, in a heavy north-westerly gale, a schooner
belonging to Chester parted both her chains in the roadstead
of Fishguard, and went ashore on the Goodwin Sands ; her
crew got safely' to land in their own boat. Immediately
afterwards, a brigantine outside hoisted a signal of distress.
She was the Theodore Oakley, of Liverpool, bound for Mar-
seilles. The life-boat belonging to the Royal National
Institution was soon ready, and went out in beautiful style,
the men wearing their life belts. They found the brigantine
with her windlass capsized, and her crew' determined to
abandon her or run her on the beach. The life-boat men.
however, persuaded them not to do EO, as the gale was
moderating, and then the life-beat returned to the shore;
but it was announced directly afterwards that another
schooner had got aground. Before the life-boat could
proceed to her assistance a messenger came to say that it
was no longer required, as the two survivors of thelehooner's
- - ethers having unfortu-
tog and drowned.

crew had go

uately been

land, three o

;he'd off the riz

THR SARAH PALM!
SHIPS

Some timE

" METALLIC S. AP " FOR IRON
ated that the above fine

ce we St

vessel had arrived from Calcutta, after a very successful
voyage, which was mainly attributable, so far as speed
was concerned, to the fact of her bottom having been
covered with Mr. Winne? metallic soap, for the preven-
tion of fouling in bottoms, both of iron and wooden ships,
and for the preservation of both. Since that time the
vessel has undergone the most rigid and elaborate insoec-
tion,,and for several days past she has been visited by
large numbers of merchants, shipowners, and scientific
gentlemen, and all unhesitatingly pronounce the result of
the metallic soap, not only to have answered the purpose
to perfection, and beyond the most sanguine expectation,
but that it is one of the most important and valuable
discoveries-of the present age. It has been stated by the
ablest practical men in port that the fouling of the bot-
toms of iron screw ships retard their progress two to three
knots, and sailing vessels from three to six, but that the
metallic soap, used either in iron or wooden ships, obviates
11:3 difficulty, and is the means of adding to, rather than
cting from, the velocity of the vessels. The Sarah
Palmer was visited yesterday, previous to her hauling
dock from the gridiron, by hundreds, who expressed

at her extreme smoot

mess ax

eanli-

;a1 .--all say that, so far as ships are concerned. the
ial produced by Mr. M'lnnes must prove of para-
mount importance, and will probably cause a revolution
in the present mode of protecting ships' bottoms.

LIVERPOOL, WEDNESDAY.

M02,12.J.A

IA.ItY AND COMM

TilyEApont. TVESDAY EVENING.
This has been a re/rim-614 quiet day in the
Cotton Market, and a very small business hat been
done, the sales amounting to not more than 2,000
bales, of which 200 were taken for speculation and
export. Prices remain -without change.

The Liverpool Share Market opened this morn-
ing without much animation, but subsequently
improved, and closed steady at the fol•
lowing quotations :—Aberdeen, 141 15. Ches-
ter and Birkenhead, 17 171. Caledonian, 304
304. Chester and Holyhead, 161 17. Eastern
Counties, 10 5-16 10 7-16. East Lancashire. 21.1
21k. Great Northern, 231 24. Ditto A, 9-1 08.
Great Western, 621 621. Lancashire and Yorkshire
Stock. 97-a 974. Liverpool, Crosby, and Southport,
181 19. London and North Western Stock, 1072
1071. Manchester, Sheffield, and Lincoln, 33i
331. Ditto Preference, 12g 121. Ditto New 6 per
cent. Pref., a :4p. Midland Stock, 828 824. North
British, 9a 01. North Staffordshire, 48
41d. South Eastern and Dover, 224 .221. York,
Newcastle, and Berwick, 22 15-16 22 1-16. York and
North Midland, 31_4 312.. Leeds Capital Stock, 181
18,1. • Buffalo end Lake Huron, 11 lip. Dutch
Rhenish, 21 21p. Great Western of Canada,
258 261. Ditto New Shares, 3,1 31p, Great
Luxembourg., 81 81d.
The following is a statement of traffic receipts
of the Great Western Railway of Canada by pas-
senger and goods trains for the week ending 27th
June, 1856 :—Week ending 27th June, 1556, total
receipts, 10,0061. 3s 4:1; per mile per week, 351. 7s.
Week ending 29th June, 1855, total receipts, 7,9.18/.
13s 7d ; per mile per week, 291. 19s. Increase:—
Total receipts, 2,7871. Os 9cl;:per mile per week,
51. Bs. Aggregate gross receipts from the com-
mencement of current half-year to date, 246,742/,
13s 3d ; for the corresponding period last year,
174,4161. 6s 7d—all sterling.

Although the amount of business done in the
Manchester Goads Market to day has been small,
a good feeling has prevailed, and both buyers and
sellers seemed alike reluctant to operate to any
extent. Prices for both goads and yarns were
supported.
Accounts from Vienna state that M. de Lesseps,
the chief director of the company for cutting a
canal through the Isthmus of Suez, had arrived in
that city, from Paris, on his way to Constantinople,
for the purpose of obtaining from the Sultan a
firman necessary to commence the execution of
that great undertaking. M. de Lesseps has profited
by his sojourn at Vienna to see the Count Buol,
Baron Bruck, the Minister of Finance, and Herr
von Toggenburg, the Minister of Commerce, and
also Prince Metternich, who are favourable to the
project for cutting a canal throngh the Isthmus.
With regard to the grain crops of France the
reports are generally satisfactory It is probable
that there will be a deficiency in the Midland
districts, but that is amply compensated by the
large yield expected in the Northern, Western, and
Eastern departments. The prices of wheat were
fully supported, as the supplies brought forward
were limited, but an early decline was anticipated.
In accounts from Spain it is stated there had
been a side of national property, which realised
300,163,786 reals. The upset price fixed by the
Government being 191,124 672 reals only, the
sale has produced 318,029,114 more than was
anticipated.

Letters from Constantinople to the 3rd instant,
mention that shortly after the arrival of the Grand
Vizier, Aali Pacha, Mr. Layard had an audience of
his Excellency, to lay before the Grand Council
the project of establishing a bank at Constanti-
nople. It was generally supposed that Mr. Layard,
as the representative of the Ottoman Bank of Lon-
don, being first in the field, would obtain some
special privileges from the Ottoman gevernment ;
but anything of this kind it appears that the
Grand Vizier is determined not to accede to either
English or French capitalists separately. Conse-
quently, it is supposed that there will be a fusion
of the interests of both, which will be more satis-
factory in its results than if either party were
accorded some special privilege which the other
did not enjoy.
With a view to allay the dissatisfaction generally
expressed at the mode in which the allotment of
shares in the Ceylon railway has been conducted,
the directors have to-day caused the following com-
munication to be addressed to Messrs. Huggins
and Rowsell, one of the Stock Exchange firms
acting as brokers to the company :

Ceylon Railway Company, 8, Austin-friars, July 14.

Gentlemen,—Wi.h reference to your representations of
the dissatisfaction with which the allotment of shares in
the Ceylon Railway Company has been received, I am
directed by the board to call your attention to the fact,
that there were only about 21,000 to allot; the remainder
of the 40,000 being devoted to the original share—
holders, those who subscribed between the 2nd of
February and the 15th of June last, and the reserve for
Ceylon.

I am also instructed to acquaint you that the board,
in considering the enormous number of applications
before them, felt compelled to give a prtference to those
from proprietors in Ceylon, who will he called upon to
submit to taxation on their produce to meet the guaran-
teed interest on the undertaking,

I am authorised to lay before you the list of allot-
ments for your satisfaction, from which you will
remark that in no case has a larger number been
allotted to any individual applicant than 200 shares,
and of such allotments there are only two or three.
You will also observe that nearly 2,500 shares, about
one-eighth of the number divisible among the public,
have been distributed to about sixty members of the
Stock Exchange.

With refrence to the complaint that interest was derived
from deposits, I am directed to state that a small amount
of interest, applicable to the reduction of preliminary
expenses, was derived from the deposits ; but that no
interest has been derived from them since the 4th instant,
before which day it was clearly impossible that the allot-
ment could be completed. The directors regret the delay
which has since occurred ; but it was unavoidable ; the
making of the allotment involved great labour and consi-
derable expense, numerous (clerks having been employed,
working extra hours to expedite the business.-1 am, &c.
(Signed) G. E. COOPER, Secretary.
Messrs. Huggins and Rowsell, 1, Threadneedle-street.

Perhaps the directors intend this letter as a
complete justification of the course adopted by
them, but to our mind the reply is far from satis-
factory.

At the National Discount Company's meeting,
just terminated, a resolution was passed unani•
mously to increase the capital by 1,000,000/ (making
a total of 2,000,0001), by an issue of 40,000 shares
of 25/ each. These shares are to be issued pro
rata to the shareholders at par, and not at a
premium, as was first contemplated.
The Funds continue to exhibit increased firm-
ness, partly in consequence of the favourable
reports from the agricultural districts relative to
the growing crops The closing prices of Consols
were quoted 95 11-16 95 13-16.
_ . _ _ _ _ _

In the Foreign Stock Market business during
the morning was extremely languid, and prices
have generally declined. At the close of the day
the Foreign Exchanges stood thus :—Amsterdam,
short, 11 162 to 11 171. Do., three months, 11 191
to 12 171. Rotterdam, do., 11 191, to 12 171.
Antwerp, do., 25 50 to 25 55. Brussels, do.,
25 50 to 25 55. Hamburg, do., 13 8:1 to 13 9.
Paris, short, 25 25 to 25 321. Do., three months,
25 621, to 25 673. Marseilles, do., 25 621 to 25 674
Frankfort, do , 1201 to 120*. Vienna, do., 10 17 to
10 19. Trieste, do , 10 18 to 10 20. Petersburg,
do., 371. Madrid, do., 491 to 491.
In the Railway Share Market the transactions
have been numerous, and in many instances, the
quotations have advanced. We subjoin the state-
ment of Railway Shares at the close of the day :
Caledonian, 61 61. Eastern Counties, 101
101.. East Lancashire, 86 88. Great Northern,
95* 901. Ditto A, 77 78. Great Western,
621 621 Lancashire and Yorkshire, 971 98
London and North Western, 1071 108. Man-
chester, Sheffield, and Lincolnshire: 331 331.
Midland Stock, 821 83. North British, 38 39.
South Eastern and Dover, 734 74. York, New-
castle, and Berwick, 872 881. York and North
Midland, 631 631

LONDON GAZETTE

B XNKRUPTS.—JOHN M'MILLAN, Wolverhampton,
publican. SA,N.UEL SKETCHLEY, llorncastle, Lincolnshire,
scrivener, and dealer in railway and other shares. JOHN
and JAMES BLAKELY, Thornhill, Yorkshire, builders and
stonemasons. Jolts POSTHUMOUS DAVIES, Merthyr, Tyd-
vil, Glamorganshire, chemist and druggist. ELIZA. HORNER,
Manchester, cabinet-maker.

GENERAL SIR FENWICK WILLILMS, OF Karts.—This
gallant General has determined to give some of his
letters to Colonel Lake, to he included in his narrative of
the " Blockade of Kars, and the Account of the Captivity
of the Defenders of this extraordinary Fortress." Col.
Lake's own Diary will, moreover, form part of this
volume.