Northern Times.
Liverpool, Merseyside, England, 1859-01-29 00:00:00

MONETARY AND COMMERCIAL

LIVERPOOL, Friday Evening.
There is a limited demand for Cotton, the sales
to-day being confined to 6,000 bales, including
1,000, on speculation and for export, the market
closing flatly at a reduction, generally on American
descriptions, of id. per lb. Brazils and Egyptians
scarcely support previous rates, and last week's
prices arc barely obtainable for Surats. Messrs.
Edmund Jardine and Co. remark :--- -
The same dull heavy tone which has characterized our
market for some time past still prevails, the offerings dur-
ing the week continue in excess of demand, consequently
prices have further given way, particularly in Boweds,
which are fully per lb. lower, and Orleans about 1-16 d.
The import during the week has been large, amounting
to 125,693, of which 124,500 are American ; this im-
portant addition to our stock will probably tend still
further to depress prices, although the quantity known to
be at sea is not large amounting to only about 65,000
bales. Advices per City of Washington received this
morning quote a slight advance in the Southern Markets,
with a strong feeling prevailing. Surats have been very
heavy, and in favour of Buyers. Brazil and Egyptian
have participated in the general dulness, and the former
is id. lower.
From the circular of Messrs. Wright, jun., and
Co., we extract the following :
We have again to reiterate a dull account of, with
drooping prices in, our cotton market. The liberal
import in the interval since the departure of the Asia
seems to act as an additional impetus for realising present
holdings, and the movement is probably stimulated by
spinners reselling. a portion at least of such as has arrived
on their account in this market, the loss to them being
felt only in reduction of the profit on their production,
and which is regained by. fresh purchases at a lower value.
The last reeeived American advices,, although generally
anticipated, are more confirmatory of what was previously
considered doubtful—a crop approximating, if not exceed-
ing 3,600,000 bales, and the prospect which such figures
involve in the promise of future supplies, induces all
classes to regard the present currency too high to prove
lasting, particularly it the prevailing rumours on political
subjects—which tend rather to diminish than inspire
confidence should assume such an attitude as to inter-
fere with and check consumption. Influenced.by the above
considerations, the trade purchase only for present require-
ments, and holders displaying increased eagerness to
make progress in sales, have submitted to a decline of Id
per lb on last Friday's rates, the market closing to-day
with irregularity. Boweds in particular are pressed for
sale, and the business generally, in all classes, is indif-
ferently represented by the quotations. The total sales
of the week, including what has been forwarded from
the ship's side, amount to 40,000 bales, of which 32,170
are America; Speculators have taken 970, and ex-
porters 3,370, leaving 35,660 bales of all kinds to t)e
trade. The import for same time is 125,693 bales, of
which 124,482 are. American. The quantity known to be
at sea from American ports is about 60,000 bales.

PBICES TO-DAY :
Nevi Orleans Fair, 7id .. Middling, bid Ordinary, 4d to 6d
Mobile If 7d OP Gid ,t 5d to 6d
Atlantic , 611-16 d .. „ 6 -16 a „ 4id to Gd
Total taken foi:consump'n, .1859, 147,120 b 15.1858, 167,060 bales,
„ export ' (actual) , 17,040 „ 8,916 „
American Brazil' Egypen E. India W. India Total
Stock this day.... 365,490 19,860 23,070 24,240 340 433,000
Same time 1858..196,020 34,410 9,820 115,400 4,360 360,100

There was a dull and drooping Cotton market
in Glasgow during the week, the trade buying
with caution.

The Liverpool Share Market was much more
steady to-day ; indeed, prices show an advance,
closing with much firmness. The following are
the day's transaction :--Caledonian, 861; Chester
and Holyhead, 48 ; Lancashire and Yorkshire,
971 ; London and North Western, 96+, 961, 964,
961; ditto one-eighth Shares, 4, 13-16 d ; Man-
chester, Sheffield, arid Lincolnshire, 38 ; Midland,
103, 1031 ; Dovers, 22 3-16, 221 ; Great Western
of Canada, 164 ; Lancashire and Yorkshire Six
per Cent., 140 ; Royal Insurance, 44, p.
The following were the closing prices -
Blackburn, 11 5-16, 11 7-16 ; Chester and
Birkenhead, 674, 671 ; Caledonian, 86, 861 ;
Chester and Helyhead, 48, 484 ; Eastern Coun-
ties, 12 7-16, 12 9-16 ; East Lancashire, 954, 96 ;
Do. £9 shares, 4, 4 p ; Great Northern, 104,
106; Do. A, S 9, 90; Groat Western, 554, 554;
Lancashire and Yorkshire Stock, 974, 971; Do. £9
shares, 4, d p ; London and North Western,
MI, 964; Do. one-eighth shares, 11-16, a d;
Manchester, Sheffield, aria Lincolnshire, 374, 38 ;
Midland Stock, 1024, 1024 ; North British,
'624_ 63 ; North Western, In, 131 ; North
btallordshire, 4=4, 4.4. CI :; /cm Ut ix ry
93, 931 ; York and North Midland, 77, 774;
Leeds Capital Stock, 148, 481; South Eastern and
Dover, 221, 22 5-16'; Dutch Rhenish, 44, 44 d:;
Great Western of Canada, 14, 164 ; Do. New
Shares, 44, 41 d ; Great Luxembourg, 6 15-16,
7 ; Grand Trunk of' Canada,. 81, 81.

A large supply of gold. fram-kustralia has been
announced, this morning, viz., £339,100 by the
Swiftsure, and £322,356 by- the"Blackwall, making
a total of £661,450, part of which will, no doubt,
pass into the possession of -the Bank authori-
ties. As silver is in more demand for the East,
and gold will be sent to the Continent for the
purchase of the necessary remittance, it
can scarcely be expected that the bulk •of
these receipts will remain here, especially as the
general exports are temporarily augmented by the
transmission of instalments on account of the
foreign loans lately negotiated. It is nevertheless
imagined that the bullion at the Bank of England,
mithough it alreadysekceeds 19 millions sterling,
avill yet attain a hitcher point before a contrary
movement is experienced. The Money Market re-
mains without any quotable variation, and these
large arrivals of specie will tend to prolong the
prevailing easiness. Early next week, however,
the inquiry will, probably, receive a stimulus
through the preparations for the 4th of the
month, and the payment of one million sterling
for the Victoria Railway debentures. The
market for the English Funds continues in a very
dull and heavy state. 'The operations, both real
and speculative, are still circumscribed, and
until the settlement in Consols is completed, no
revival of business is anticipated, unless some
political intelligence of an important character
should be received from the Continent. Consols
have been 95a to 961., for Money and Account, and
the New Threes, and the Reduced Annuities are
also rather flat. 'The Government broker has
made a further investment in the 20,0004 Stock
for the Savings' Banks.
Foreign Securities also present a dull and un-
favourable appearance. The New Loans are still
at a heavy discount, whieh, it may be presumed, is
sufficient to delay the negotiation of the Loans,
which, it is stated, are intended for Austria, Sar-
dinia, and other countries.
The London Railway Share Market was dull
this morning, there being an absence of business.
Great Western of Canada improved, and London
and South-Western were higher. Foreign Stocks
closed rather better, and Mexican considerably
impioved on purchases. There was little doing in
Mines. Banks and Miscellaneous shares were
steady. The following were the closing prices :
—Ambergate, 6i ; Caledonian, 86, s6};
Do. Pref., 103, 105 • Eastern Counties,
62, 63 ; . East Lancashire, 95, 97 ; Edin-
burgh and Glasgow, 69, 70 ; Great North-
ern, 1041, 105 Ditto A. 88, 90 ; Ditto B, 132,
134 ; Great Western, 55, 551 ; Lancashire and
Yorkshire, /96 971. Brighton, 1091, 110-1 ex. div. •
_4
.4

London and North Western, 96, 961 ; London and
South Western, 951, 95i ; Manchester, Sheffield,
and Lincolnshire, 371, 38 ; Midland, 1021, 1021 ;
North British, 621, 621 ; ditto Pref., 112, 114 ;
North Eastern—Berwick, 93, 934 ; Leeds, 48,
481 ; York, 77, 771 ; North Staffords, 41, 44 d ;
Dovers, 731, 74 ; Turkish Sixes, 91, 911; Ditto
Fours, 1051, 106 ; Great Western of Canada, 161,
164 ; ditto New, 44, 4 d ; Grand Trunk of Canada,
81, 81; Bank Stock, 227, 229.
The annual Timber Circulars have just been
issued. Messrs. Farnworth and Jardine, in
noticing the trade movements during the year
says :

The trade in Wood, on the whole, has been unsatis-
factory, for, notwithstanding the large business, as shown
by the aggregate consumption exceeding that of any
previous year, and that the dealers have probably
experienced a profitable return, the importers generally
have not been remunerated, although favoured with
unprecentedly low freights from Canada. In consequence
of the altered circumstances of many parties in British
North America, the supplies from thence have been in
moderation, and a considerable portion has been brought
forward, more with a desire to liquidate outstanding
liabilities than with a view to profitable employment of
capital, for at no period of the shipping season was
there any g0,',11 reason to expect a price in thin market

which would yield the value current at the ports of
shipment. From the commencement to the close of the
import there has not been much change in the value of
the leading articles ; importers generally have realised
ex ship, preferring to make the sacrifice at once rather
than face heavy storage charges. A more than usual
portion of the supply has been sold by auction, although
this mode of disposing of wood is not generally con-
sidered beneficial to the importers. We close the season
with somewhat better prospects for the coining one,
providing the peace of Europe be not disturbed. Stocks
are in the aggregate less than in any year since 1852, and
as prices are moderate, and manufacturers enjoying
great prosperity, we may reasonably anticipate a fair
consumption. It may, however, be well to note that the
low and unprofitable rates at which a large portion of
the supplies were forced off during the past year has
tended to increase the consumption, and also that the
country dealers hold much larger stocks than nsual.

Messrs. Duncan and Ewing thus alluded to the
prospects for the future :
Entering upon a new year, as we are now about to do,
with the stocks of the leading articles of supply not
exceeding an average quantity, the manufacturing inter-
ests in this and the neighbouring counties in a flourishing.
condition, the necessaries of life at a reasonable cost, and
an easy state of the money market, it is only fair to pre-
dict, with all these favourable influences bearing on the
future course of the market, that the present currency
will be fully maintained, with a prospect of an improve-
ment in some of the staple articles of consumption.
No change can be reported in the Corn Trade.
Transactions are narrowed down to consumptive
requirements in all articles, and prices of each are
in the buyer's favour ; and, in the present apathe-
tic state of the market, difficulty would be experi-
enced in moving quantity, either of Wheat, Flour,
or Indian Corn.

The Manchester Market for Goods and Yarn
has been less active this week, with an occasional
increased desire to make sales at a slight reduction
on previous rates, more observable where a renewal
of orders is solicited. No general relaxation in
prices can be noticed, as existing contracts having
inn. some time to run impart steadiness ; but the
feeling is evidently in favour of cautious action.
During the week there has been a little more
enquiry for Salt, and prices are now firmer than
on Friday last. Mr. Werninek quotes : common
Salt, 4s 6d; rough, 6s to 8s; stoved, 7s 6d, and

butter Salt, 6s per ton.
The half-yearly meeting of the Scottish Austra-
lian Investment Company has taken place to-day,
at which a report was presented, stating that the
gross profit made in the colony was 9,0841. 13s.
10d., to which must be added 19,0931. 13s. 2d.,
realised on the sale of Good Hope and other pro-
perties, which, with other items made an aggre-
gate profit of 28,8031. Os. 9d. The directors
proposed dividend at the rate of 10 per cent.
per annum, after which a balance of 15,405/.
18s. 71 would remain to be carried to the Reserve
Fund, which would then amount to 22,2311. Os. Bd.
It was proposed by the directors to raise a further
sum of 200,0001. at 5 per cent. on Preference
Stock.