Northern Times.
Liverpool, Merseyside, England, 1857-11-28 00:00:00

THE NORTHERN TIDIES. LIVERPOOL SA_TURDAYI NOVEMBER 28, 1857

IBorough Bank, says one of the London papers,
several respectable firms had their credit damaged
by their acceptances being protested, owing to the
London agents of the bank having refused pay-
' ment, although the funds to meet them had actually
' been paid into the bank in due course. One case
is especially complained of, that of Mr. George B.
Kerford, who had an acceptance noted in London
at the very time when the Borough Bank had
debited him in his passbook for the payment of it.
The bill upon its return was, of course, met forth-
with by the acceptor ; but, as any irregularity at
at the London clearing-house is noticed and regis-
tered by the various bankers, unless explained at
the time, the annoyance from such a circumstance
is not easily remedied.
The sums falling due at the Bank of England
are so large as to warrant a belief that their
resources will continue steadily to accumulate,
Their note issue has already been curtailed within
the limit fixed by the Charter, and this fact is of
itself sufficient evidence that affairs are now
beginning to return to their ordinary channels.
Further mercantile embarrassments will, doubt-
less, transpire, but all idea of panic may now be
dismissed. At the same time we cannot join
in the expectation, which is beginning to be
expressed in many quarters, that the Bank will
immediately reduce the rate of discount. Such a
step would undoubtedly go far towards restoring
coefidence ; and it is notorious that the position
of the Bank has greatly improved ; but these
are times for wary walking, and, despite the
example set yesterday by the Bank of France,
the directors of the Bank of England, who have
displayed throughout the late crisis judgment
and ability of the highest order, will probably
take full time to deliberate upon the ques-
tion of a reduction. It must not be forgotten that
the. Bank, though liable for so many *millions of
deposits, have at present scarcely any " reserve."
Between the present date and the January dividend
period, they must draw in a very large amount of
money. Meanwhile, it will suffice for the pubrc to
be assured that our immediate prospect is that of
a gradnA and steady improvement.
The steamer Tamer, with the gold and heavy
portion of the mails, is expected to arrive at
Southampton from Alexandria about the sth Dec.
The steamer Petropolis has taken out 30,000/ in
specie to the Brazils.
It is stated that the directors of the Bank of
England, actuated by a wish to alleviate as much as
possible the local distress resulting from the em-
barrassment of the Northumberland and Durham
District Bank, have instructed the managers of the
branch of the Bank of England at Newcastle to
afford every facility as regrads discounting the
trade drafts drawn by the colliery proprietors upon
London for current sales. This measure will faci-
litate the continued working of collieries which
otherwise, there is reason to fear, might be brought
to the verge of a stoppage. We understand that 1
several of the principal landed proprietors in
Northumberland are shareholders in the District
Bank.

Yesterday, at an adjourned meeting of the
creditors of Messrs. Smith, Boyle, and Co.,
whose suspension took place on the 9th inst., the
total liabilities were stated by the accountants,
Messrs. Turquand, Youngs, and Co., at about
15,000/., and the assets at 7,500/. It was agreed to
accept a composition of lOs in the pound, payable
by instalments.

Now that every requisite arrangement has
been finally completed, it may be mentioned that
Messrs. George Peabody and Co. are the eminent
American firm who, to the satisfaction of the
whole commercial community, have just been
assisted by the Bank of Engll,nd. In common with
the rest of the press, we have hitherto refrained
from referring to the name; but as instances have
been brought to our knowledge in which positive
misapprehension has thereby been excited, especi-
ally abroad, it is a mere act of justice to the other
houses in the trade that the name should be
mentioned.

The decrease in the weekly traffic return of the
Lancashire and Yuikshire Railway Company is
£2 515.

The following are the latest quotations of the
Foreign Exohanges :—Amsterdam short, 11 18,
12 3 ; Ditto, 3 months, 123 to 12 3 ; Rotterdam
do , 12 2,1 to 12 3 ; ,Antwerp, do, 25 80 to 25 90 ;
Brussels, do, 25 80 to 25 85; Hamburgh, do., 13
13 to 13 141; Paris, short, 25 35 to 25 55; do.,
3 months, 26 to 26 5 ; Marseilles, do, '26 to 26
10 ; Frankfort, do, 1214 to 122 ; Vienna, do, 11 10
to 11 20 ; Trieste, do., 11 10 to 11 20 ; Petersburg,
do., 33 to 33! ; Madrid, do., 47i to 47i.

BANK OF ENGLAND RETURNS.
Account, pursuant to the Act 7th and Bth Victoria, cm. 3
for the week ending Wednesday 25th Nor., 1857.

LIVERPOOL COTTON MARKET.—Nov. 27.
The continued stringency of the money market, with its attendant
misfortunes, and the consequent derangements of trade, still press
heavily on the cotton market; the transactions of the past week have
been curtailed to the narrowest limits, and with an ample supply,
prices of American are generally icl to Id per lb. lower, with here
and there instances of eve greater de line. Brazil and Egyptian
freely offered at a reduction of id to id per lb. Surat pressed at /d
per lb. lower price. The weekly sales are 26,620 bales, of which
1,590 are on speculation, and 5,070 for export.

This
Import.

week.
Sales.

P.icespaidl
this week•',

Description.

Cum. Prices.
Mid. Fair. Sto,

140
7110
1280
7260
1740
300

Sea Island
Upland
Mobile - -

d. d.
10 to 23
3 to 74
42 to 7
3 to 82
84 to 92
84 to 10}
to
34 to 64

d. d.
12 13
6 61 6.,f 1
01 161
ft 6i
71 n 31
1 8i 9 1;
61 6;
4 4f 121

New urleans
Brazil -
Egyptian - -
West India -
East India -

•
LIVERPOOL PRODUC6 MAR.KET—Noy. 27
Suc.sa —We have ro change to notice; the sales comprise 20 hhds.
Jamaica at 428, 30 hhds. Barbadoes at 38s, 400 bags dates at 35s to
388, 1,640 bags Pernams and 400 bags Bahia at 20,s per cwt. in bond.
MOLA ass AND RlTM.—Nothing has occurred.
COFFEE. —lO tierces Jamaica are reported at 90s per cwt. for fine
middling.
Rica.--1,600 bags Bengal have been sold at 8s 3d per cwt.
REVIEW OF THE WEEK.

SuciAL—The market has been dull throughout the week, and
prices have declined 61 to Is per cwt. The sales are 60 / bhds B. P.,
200 bags Bengal, and 2,500 bags Brazil, at 20 s to 225, and of imports
from the United States 2,700 bags low red Dates at 29a 3d, 4,600 bags
clayed Manilla at 35s per cwt., from the quay, and 350 hlids Cuba
Muscavado, for which no prices are reported.
MOLASSES.—The market continues dull, but without change in
prices: Only 53 casks inferior eayed Cuba sold at 13s per cwt.
COFesu.—The business is again quite unimportant, being confined
to 20 tierces Jamaica, 30 bsgs Brazil, and 3) bags Manilla, at former
rates.

Cocos.-20 bags of Trinidad sold at 85s per cwt.
PEPPER.-80 bags of Singapre black realised 4id per lb.
RICE continues difficult of sale, and lower prices have again been
acceded to. The transactions have been restricted to 7 000 bags
Bengal, at 8s 3d per cwt. for low middling old, up to Ils 63 for fine,
1,300 bags damaged Necransie, at 7s 9.1 per cwt. for first class
damaged, and 9! bags of Paddy, at 5s 9.1 per cwt. for first class
damaged.
Rum. Rather lower rates have been accepted for Demerara, of
which 150 puncheons a ild, the value being 2s 7d to 2s 8d per gallon
nroof for good, and 3s 114 to 4s per liquid gallon for choice marks.
TEA.—Sales have again been very limited, and prices barely sup.
ported; the clear4aces continua good, and the article is lookcd on as
being in a favourable position.
GAMS' E R.—All descriptions of drysaltery articles were neglecteJ,
and only a small lot sold, all fau ts.
I INDIGO.-25 chests Oude at 3i 6d to 4s 6d per lb. for ordinary to
fair consuming quality.
SAGO FLotia.-150 bags at Is 6d.
SALTPETRE —A tr.fitng parcel of Bengal is reported at 37s for 171
per cent. retraction.

NITRATE OF SODA —Only small parcels at 20s 6d to 23i per cwt.
Dyhwoons.—The transactions do n)t leach 150 tons, at low,
prices for most sorts.

RO:IN.—The sales reach 1,503 barrels, common at 43 to 4s 31,
me lium at 5s to Bs, and fine at I4i to 153 per cwt.
TAR OR TURPENTINE.—No sales reported.
ASHES.—OnIy retail sales ate reported at the quotations.
Il(uss.—The market continues depressed, and at the public sales
on Tuesday, nesrly the whole were with ir.iwn ; 2,000 salted Buenos
Ayres nave since been sold at 7d, 3,00) salted North American at
3gd to 31d, anl 300 dry salted Ceara at Ed par lb.
BRIAISTONE.—SaIes are quite of a retail character, and prices
nominal.

t acocs.—The only business reported consists of 15 boxes white al
70, to 753 per cwt.
TARTAss.7Nothing done.

Sumac.—Only small sales are reported, at 12s to 149 •for new
Palermo, and at 83 per cwt for Catania.
BEES' Wax.-15 packages American sold at £7 to .67 7861 per ewt.
OLIVE OlL.—The transactions are barely 50 tuns, at prices which
hove not been reported.
SEAL AND COD OILS continue doll of sale.
SPESM OIL.-10 tuns sold at £7O to .W 72 per tun.
LINSEED OlL.—Small sales are reported it 31s to 323 per cwt.
RAPE OlL.—Pale at 43s to 45s per cwt.
SPIRITS OF TURPENTINE.—RD erican are in moderate request at 32s
to 333 per cwt. _ _

Penm OlL.—About 145 tons on the spot have been sold during the
week at to £3B 103 and 50 tons to arrive at
.e 39 p.r ton.
TALLOW.—The market is lower, but the demand has improved;
about 200 casks Petersburg Y.C. sold at 49s to 51s, 45U pipes South
American at 48s 6d to 493, and 150 casks North American at 46s to 504
per cwt.

LARD is quoted nominally at 56s to 583 per cwt.
JUTE os o tra]sactions to report.
BEEF.--The demand has slightly improved, but the saes are
altogether on a r-tal ec de, and, as the new cure begins now to
appear, old becomes neglected, and more difficult to seal, even at
farther reduced rates.
InPoarc.—The demand, which, in the absence of assortment o f
American, is nearly confined to Irish, is also of a retail character,
but without further change in value.
BACON —The low price of home-cured operates against the demand
for American, hence the sales are unusually light, and generally at a
farther decl'ne of Is to 2s per cwt.
LARD.—The demand does not revive ; a farther reduction of Is to
2s per cwt. does not tempt buyers.
CHEESE.—Large arr,vals, now in process of landing, will test the
market.

week, but the tone of the market improved yesterday, and particu-
I arty to-day, so that we continue last week's quotations, with a very
steady market at the close. Refined lumps are quoted firm, at 55s to
4 3s.

Our markets continue to be influenced by the monetary crisis, and
the actual business done has been small.
COFFEE.—List week's prices have been supported, and the article
has a steady appearance. -
TEA —This article has been less influenced than many others by
the crisis, yet of course prices are lower, say' 2d per lb, from the late
highest point of the ma ket Common Congon now quoted Is cash ;
medium Congou, Is 31 to Is 6d.
F ICE.—A reduction of 6d has been established this week on low
qualities withoat producing buyers to any extent.
Sar.vrantn.—.A further decline has taken place in this article,
w:th a limited busine=s done. Refraction 4to 9 wilted 34s to 39.
Roar.—No transactions of importance reported this week.
COTTON.-"he sales made have been too few and unimportant to
0 give quotations, but prices may be considered lower.
.360 FPICES have sold heavily, without any material alteration.
820 In other articles no material alteration, and a general want of
-Co. confidence in most articles is apparent, although somewhat less
than last week.
730 •••••••••.....

LONDON TALLOW MARKET—Nov 27.
The market Is steady at the annexed quotations :—Town tallow,
48s fid net cash ; Petersbure• Y. C. on the spot, 49s to 49 3d; all the
year, 48s 63; December, 495; .Ltnnary and March, 525.

BOROUGH HOP MARKET.—Nov. 27.
There is again mo-e doing in hops, both for consumption and on
speculation, at rather improved prices.

LONDON CORN MARKET.—Nov. 27.

There was a little English wheat on sa'e this morning in Mark-
lane ; and the increased indisposition evinced by the farmers to supply
the country markets freely at the recent decline in prices, has given
greater firmness to the wheat trade, and purchases could not be made
so well as earlier in the week; and this remark will apply to country
flour, which was cer ainly dearer. Barley in short supply and good
request, with price against the buyer. Oats in some instances made
6d more money. Beans and peas firm.
ARRIVALS INTO LONDON FROM NOV. 23 TO NOV. 27.

Wheat.
Barley.
Oats...
Malt...

English and Scotch
1220
251
180
970

Foreign.

B'9o
8510
4110 2llBO

Flour. 3,380 barrels. 1,010 sacks.
LONDON AVERAGES—Wheat, 52s od ; Barley, 38s O 1; oats,
26s Od; Rye, Os Od; Beans, 40s 3d; Pease, 45s Bd.