Northern Times.
Liverpool, Merseyside, England, 1860-01-03 00:00:00

-7tiANMIESTER SHARE MARKET.—Jis. 2:

Leeds, 100 i to 4; Great Westerns, 704 to ;
Eastern Counties, 111 •, Edinburgh` 'and --Glasgow, 83 ;
Midlands, 110 Z ; Sheffields, 391 -2-, II; Dcvers,
25 7-16 '

CORK CORN MARKET.—JAN. 2. -
White Wheat, 275. to 28si'; Red do., 255. to 265. ;
Barley, .15s. 6d..t0 265.; Oats, 12s. ld. to 14s. 41.

TRADE CIRCULARS.

STAFFORDSHIRE IRON TRADE.

,Mr. S. Griffiths, in his circular, says :—The preliminary
meeting of the ironmasters took place at the Hotel,
Dudley, on Thursday last, Mr. Philip Williams, the
chairman of the 'association, presided. Mr. William
Barrows (BarroWs and Hail) suggested that no altera-
tion should be made in prices. The feeling. of the meet-
ing was unanimous upon this point. The prices therefore
for next quarter will be the same as those which ruled
during the last two or three quarters. A long disscuse
sion took place with regard to the scheme now afloat for
converting the Regent's canal into a railway. The
meeting was unanimously opposed to it, and there and
then named a committee composed of Mr. John Hartley
(G. B. Thorneycroft and Co:), Mr. R. Smith (Lord
Ward's agent), Mr. John Jones (Spring-vale), Mr. Wm.
Mathews (Corbyn's-hall), and Mr. S. H. Blackwell
(Russell's-hall)—(of course the chairman acting with
them)—with instructions to condUct the opposition on
behalf of the whole trade. Mr. Hartley was likewise
desired to bring the subject before the Chamber of
Commerce, Wolverhampton, and Mr. William Mathews
to. communicate the feeling of the meeting to the Cham-
ber of Commerce, Birmingham. A very strong adverse
feeling to the scheme exists throughout the whole
Midland Counties, as the new project afloat affects all
the trades alike who send their produce to the. London
market. The trade in Manufactured Iron continues
steady, a marked improvement being manifest in the
demand for Nail Rods,-which are much firmer in price,
several heavy parcels having been booked by the manti
facturers this Week for Shanghai.- The' market for Pig
Iron continues firm; and the' business done-this week
has been quite eip to' the late improved rates. The
makers of all sorts have sold heaVily, and not disposed
_now to sell for forivard delivery, the feeling.at the _pre-
meeting.being highly satisfactory withlregard to
the future prospects of the trade. The exports of Iron,
for the month of November, show a falling off as com-
pared with either 1858 or 1857. This is mainly due to
the .decrease in the exports to -the Continent, and par-
tially to the falling off to the East Indies. For the 11
months of the year, there is an increase amounting to a
million sterling over 1858,, but a falling off of nearly
a million and a half, as compared with 1857. In the
latter year, the trade experienced a most unsound ex-
-tension resulting. in the crisis which. marked its close.
The rapid recovery of the demand for the. United States,
and the increased demand. for the East Indies are highly
encouraging features; especially as those two markets
are jpt recovering from the temporary depression Which
excessive impoiis had occasioned: The enormous ex-
pansion which the exports to the East Indies present is
doubtless mainly due to the improved means of internal
transit, which the railways recently,constructed afford;
,_and it is difficult to assign a limit to that' increase. Up
tee 1865 thetotal exports of all kinds of British produce to
India, never reached ten Millions sterling ; this year the
export ofa single at ticle—cOtton—will ampnnt to folpteen
,enfallionsrand A, half. SO remarkable a proof bf the veilom
of extending railway communication to our rndiin Empire
cannot but load to the construction of other lines, which,
while they will immediately benefit the Iron Trade
by the demand for railway iron, will generally lead" to
such an improvement in the social position of the Hin-
does, as will make them large consumers of all kinds
of British goods. It is evident from the returns that
if commercial confidence is restored on the Continent,
we shall have, next year, -a very large demand for
Iron, and for every article produced m this district
and throughout the country. The Iron trade depends
very largely on the demand for the Lancashire and
Yorkshire manufacturing districts, and the growth
of the trades in which they are engaged is marvellous.
Up to 1855 the total annual. exports of cotton goods
had never reached £32,000,000 ; this year they will be:
nearly, if not quite, £48,000,000. Up to 1858 the
largest amount of woollen goods exported never amounted
to nearly £12,000,000; this year they will be upwards
of £15,000,000. The official list of prices of finished Iron
is as follows .—Common Stafferdslaire Bars, 17 104., at
the works'; Best Bars, £8 10s. ; Sheets, £9; Doubles,
£lO lee. ;- Nail Sheets, £8 10s.; Latin,- £l2 ; Boiler
Plates, £9 ; Best and Best Best in proportion ; Common
Rods, £7 , 10s. ; Hoops, £8 10s. ; Gas Strip, £8 ;
Canada Plates, £l2, and all other sorts in pro-
pcirtion. Current •prices of Pig ' Iron Stafford-
shire Cold Blast, £4 10s. ; . Best Native Hydrate
Pigs, £3 15s. to £4 2s. 6d. ; first-class All Mine Grey
Forge Pigs,, £3 10s. to £3lss. ; Good Mine Pigs, with a
modicum of Flue Cinder, £3 to £3 ss. ; Mine Pig's,
deteriorated -by Cindeir, 'L2- 12s. 6d. tat 3 ; Grey Forge
Cinder Pig Iron, £2 12s. 6d. to £2 17s. 6d. ; Melters,
Nos. 1,2,- and 3, £2 15s. to £3 2s. ; superior 'makes of
All Mine Melting Iron, £3 10s. to £4, according to
make and-quality. Favourite Shropshire and Forest of
Dean Brands, £4 10s. Copper.—The market firm for
allkinds; no advance this week as was generally expected.
In our next we shall review the Copper market for
this year.—Lead : -Market firm, Spanish in better
demand, price £2O 16s. to £2l, review for the past year
next week.—Tin: 'A moderate business doing market
-Erin, at fixed rates ; the annual review of this -metal
next Week.---Spelter : No change to notice since
our last; review for the past year next week.—Tin
plates A moderate business has been done during the
week, prices uncbanged.—Zinc : English sheet, £27 se.
—Swedish Steel: Keg continues . scarce, very little
business has been done during the last week.—Regulus :
French star, £so.—Quicksilver : Market quiet, price
£7 per bottle, less 3 per tent.

MANUFACTURED GOODS. '-
Messrs. Da Fay and Co, in their trade report of Dec.
31, say i—The year we are now on the point. of closing
was begun with sanguine expectations by most
commercial men; and, although a check was early given
to the development' or.the, favourable elements :which
encompassed it, by the ominous words spoken-by the
Emperor of the .French to the Austrian ambassador,
1859 has been a satisfactory year as regards trade .in
general, and a prosperous one to those more particularly
engaged in.the spmning and manufacturing industry of

THE DAY'S NEWS.

The great topic of the moment is the French
Emperor's reception of the diplomatic corps on
New Year's Day, of which we were eriabled to
publish an account. yesterday." It will have been
-oliserved, that two versions of' the conclusion of
the Emperor'S speech were given. One account
.represents. his Majesty as saying; " I shall also.
prove to them, in future, that all 'my,efforts hare
no other- aim but , the maintenance- -of peace."
Instead.. of which, the other report makes him
-utter these words :—" Be convinced, therefore,
that the constant aim. of my endeavours will
always be to re-establish every where, as far as
lies in my power,- confidence and peace."-- The
language of the latter, is rather more'cautipus
and.guarded than that of the former ; bursub,
stantially the meaning of both is the same. In
the immediately preceding sentence in this• ad-
dress, the Emperor appeals to the past history of
his reign, as showing that he has "always re-
spected. recognised rights ;" and be urges this as
a good ground of assurance, that as it has been
in times gone bY,.. so will it be in time tol come,
his constant aim to "re-establish everywhere,
confidence and peace." The expressions may be
meant to' soothe the anxieties of those who have
been unduly alarmed by the publication of the
mysterious . pamphlet. But they are too yavome

mean anything definite ; and mark the prudent
lualification, "as far as in me-lies." The mighty
Emperor owns that there is a limit to even his
great power—that there are certain things even
he cannot do. He has had many lessons on this
subject of late, and these words seem to show
that, so far, at least, he has profited by experience,
and acknowledges himself the slave of circum-
stances. _

Whatever may be the real intentions of the
Emperor, as regards the Popedom, there can be
but one opinion as to the fact, that he is above all
things desirous of re-assuring Europe that his
motto still is-The Empire is peace. In corro-
boration of these pacific views of the Emperor,
we may here notice a report, which we publisgd
in a later edition yesterday, that the French bud-
get of the Ministry of War for 1860 will be pre-
pared for a strictly peace establishment, the army
being reduced to less than 400,000 men; and it
will be seen by our latest intelligence to-day,
that a French naval officer of rank endeavours to
prove,- that the French navy is not equal to'the
task'of aggression, and he asserts that there are
some._ among the officers of the French navy to
whom a rupture with England is anything but
desirable. We are happy to add, that there are
various indications 'from other quarters that the
desire for peace is decidedly in the ascendant
with all the other great European powerS: So
far, then, the year has indeed begun well abroad.

.The. postponement of the meeting of the Con-
gress sine die is looked• upon, in some quarters, as
equivalent to an ultimate abandonment of it
altogether ; and the Times says "so much the
better." It seems possible that the difficulty of
obtaining anything like unanimity, of opinion
among those who alone can form.such a Counciil,
upon the great principle now accepted by France,
as well as England, as the only possible basis for
the proceedings of a Congress, may be found to
-be insurmountable. That principle, we need
`scarcely say, is the right of a people to choose its
own rulers. It is not astonishing that Austria,
.which ignores the existence of such a right, and
Russia, which holds the theory of legitimacy, and
German Courts who have always leaned so much
on Russia, should one and all entertain a strong
dislike to any-recognition of such a principle, as
that of the so vereignity of the people. But if
these Powers. continue to hang back, and if, -in
consequence, a Congress should never be prac-
tically realised, England has nothing to regret.
We have only, as the Times says, " to leave the
Pope and his supporters to their remedy."
There would appear to be no doubt now that
Austria is in earnest in the desire to effect a large
reduction in her army. This design has been
reported some weeks past; but an autograph let-
ter of the Emperor Francis Joseph, addressed to
his Minister of the Interior, has apparently put
it beyond all doubt. The mode of proceeding is
to discontinue all compulsoiy recruiting during
the year just begun, without reserving a counter-
balancing increase in the number of recruits for
future years. The expedient seems to be a popu-
lar one in itself; and, as an indication of pacific
policy, it is highly important.

The Cabinet Council summoned for to-day
(Tuesday) will bring up to town most of the
Ministers unexpectedly from their Christmas
holidays in the country. It is inferred from this,
that some matters of very urgent importance have
rendered a Council necessary. We should think,
however, that as the time of meeting of Parlia-
ment draws near, the Cabinet will find it neces-
sary to have very frequent conferences.

Among the numerous public appOintments of
trust, which the extensive and varied interests of
Liverpool demand, probably the duties of no one
is more important, and few are more onerous than
those of a member of the Dock Board. The vast
and complicated interests which are confided
to the care and management of that im-
'portant trust necessarily 'compels its members
I to devote much of their time and attention
to the various matters connected with the

Wo4ing_of the dock arrangements._ Time and
Attention alone, however, are not sufficient for the
discharge of those duties. Great business aptitude
and energy, combined with extensive information,
are indispensible requisites, and it is, therefore, no
matter for surprise that when the ratepayers had
been successful in securing the services of such
gentlemen as Messrs. Brocklebank, Farnworth,
Graves, Smith, Tobin, and Maclver; they should
be desirous of retaining their services, and con-
tinuing the confidence. reposed in them. We are
therefore glad to find that five of the gentlemen
named were re-elected yesterday, and that without
opposition. The sixth gentleman, Mr. Maclver,
whose continuance in office had been solicited,
positively declined, consequent on the pressing
demands which, his own business makes upon: his
time. Such an objection was unanswerable, and
the ratepayers supplied the vacancy occasioned
by his retirement by electing Mr. B. Darbyshire.
As was said, and properly said, at the meeting,
by fir. James Beazley, the ratepayers were the
favoured parties, and not those who were elected.
This is so truly the condition of the matter, that
the public are indebted to Mr. Beazley for the
franknesk as well as good taste, with which he
declared it.

As will be seen from our. reporting columns, a
special meeting of the -Town Council was held
yesterday. The business before the meeting was
merely of a routine character, being confined to
the appointment of truitees and commissioners
for the execution of certain local trusts As will
be seen from .a prograwne of the business which
is to come before the Council at its ordinary
monthly and also special meeting, to be held to-
morrow, several matters of Ccillsiderable general
interest will be brought forward. Conspicuous
among these .will be a report from theFub-commit-

Tuesday, January 3,
_1 €6O.

tee of the Council- appointed to consider the report
of the Liverpool -Law Society • relative to the
appointment of a second stipendiary magistrate
for the borough.

IT is satisfactory And hopeful to find trade-
circulars and orgins of political opinion all
agreeing to congratulate the
_country on the-
prospects of the new year. Things wore much
the same appearance on the last new year's day—
at least till-the-afternoon. But now that those-
Imperial diplomatic utterances, which usually
seignalise the season, are found to breathe peace
instead of war, the barometer of the stock.
market maintains its elevation,—capitalists begin.
to calculate with a feeling of some certainty, and
speculators to see visions and dream dreams.-
Yet, we must admit, one of the most satisfactory-
features of the moment is the apparent absenee
of that speculative mania, which so often leads -
to a state of unnatural and ruinous depre-
sion. Commerce seems, on the whole, to•
have been steadying itself for the next
development of its energies, without having:
formed undue or fanciful expectations, or calcu- .
lated upon sudden and gigantic results. The.
commercial classes do not seem to be looking:
forward to anything more than the legitimate
course of trade, nor to be really wishing for more-
than success in the legitimate exercise of their
industry- - and enterprise. Perhaps the recent
pause, with all its tediousness and discouragement,
has turned out to the general advantage of com-
merce by gaining time for introspection, for
examination of its footing, for making a fresh
start with deliberation and forethought. There
can be no doubt that• the general commercial
aspect presented by the country has been in its cha-
' racteristics not More favourable than remarkable
and unusual. Money is not only cheap,
but, after a long spell of cheapness, gives
no signs of becoming dearer. Yet there is
no eagerness to embark in new undertakings, or
to listen to the voice of those charmers, who
charm with mote cunning than honesty or wis- -
dom. Foreign loans had scarcely ever a less.
favourable chance of being entertained in this
country ; and men are asking of competing specu-
lations not what promises the highest return, but
what is the safest and the most reputable.
Now all this may show us the vanity of human
expectations. In the first half of the year just
closed, the atmosphere of commerce was thick
with the most startling predictions, and -dis-
tracted with the most disturbing-fears. The war
begun in right earnest in Italy, bore every
promise of long continuance, and every likelihood.
of wider extension. It is only six months since,
that the active . participation of non-Austrian
Germany was imminent, and a question of days_
The aspect of Russia was doubtful and
threatening ; and our own implication in an
embroilment fast becoming general was a thing:
to: be calculated on with certainty. On the
other hand, the appearance which " outraged
nationalities" were putting on, and putting on
more threateningly, was fraught with still
greater danger to the prospects of returning
peace, and carried with it greater complications
into the position of the combatants. The right
hand of trade was paralysed, and the more deeply
so, that no one dared to prophesy the returning
era of confidence. Meantime, wiseacres and pro-
phecy-mon'gerS'were beginning to count upon the
most universal, the most disastrous, and the most
important war that had ever convulsed Europe,
and' threatened changes to its old-world systems.
The end of all this was, that one fine morning
the world awoke and found , itself at peace !
The war originally set on foot by one who was
looked upon as the foremost man in Europe, with
great magnitude of preparation and great. bold-
ness of design, v. as brought to an abrupt termi-
nation after a brief portion of a single campaign,
leaving the great object not half accomplished
the outlines of the new kingdom that was to be,
hazy and indistinct ; and the freedom, from the
Alps to the Adriatic of a Xenia " programme,"
dwindled into a faint compromise still scowled at
by the Quadrilateral, and threatened by Austrian
legitimatised interference.

What was most important, however, to
trading world was, that it was. in reality
peace. Trade cannot thrive on the great deeds of
the battle-field ; the more stunted and abirtive
the designs of generals turn out, the more calmly
and confidently does it turn to its proper work--
Slowly has this confidence been gaining ground.-
Commerce has, as it were, been unable to realise •
to itself this sudden Change of events, all at once.
The question is now, how long a lease of peace-
and stability we can at the beginning of this-
year calculate upon. We have hitherto been-
frightened by. events abroad more than hurt.
We need to take care that the end of this year-
does not find us hurt by events at home, without
having been enough frightened. Certain it is,.
that unquiet spirits have been doing their utmost
to raise an internecine political war, and sap as-
much as they can the sources of domestic con—
fidence. It is in the power of a factious or a sel—
fish Ministry so to mould the coming legislative-
proposals for reform in the representation, as to
convulse the country to its centre, and adthinister
another delay to the progress .of trade. If the
of England wishes to go on its way
and. leave to themselves the arts of diplomacy,
and the abstractions of political philosophers, it
must keep its eye well on the reckless empiricism.
and the interested partisanship of the day,—the-
first in the person of Mr. BRIGHT; the second in,
the person of Lord JOHN RUSSELL.

•
The recent severe weather has made manifest symp-
toms of decay in some portions of the new fccade of
Buckingham-palace. Soon after its erection the stone
was protected by many coats of paint, in hopes to arrest
the miscbief, but the paint has, in many places, quite
perished under the severe test to which it has recently
been exposed, *and the progress of decay in the steno bats
recommenced,—Cow t tro(rna?,