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

MONETARY AND COMMERCIAL.

LIVERPOOL, Friday Evening.
The Cotton Market was much more active to clay,
the sales being estimated at about 8,000 bales,
including one-half on speculation and for export.
Large parcels of Surat were forced upon the
market for cash payment. The market closes
tamely, at a decline or id. per lb. from Friday last,
on the current qualities of American descriptions.
Messrs. Wright, Jun., and Co , in their circular
dated this evening, make the following remarks:—
Our circular advices cf 20:h instant, per America, re-
ported less irregularity in our cotton market towards the
close of business last week. In the early part of the
present (as has been 'he case for some time past) symptoms
of improvement were apparent, and the absence of further
commercial failures contributed to this feeling until Wed
nesday, when the announcement of mercantile suapsnsions
amongst eminent houses in the German trade unhinged
matters, and once again produced a feeling destructive of
retu-ning confidence, which the decidedly more promising
aspect of monetary affairs was about influencing. At the
decline now established in prices there is an evident dispo-
si ion to increased consumption on the part of spinners,
and many mills are resuming full working time, whilst
those partially or wholly closed are contemplating a similar
course. Pressing necessities in many cases, and want of faith
in others, however, induce holders to offer freely, and in
the ordinary qualities in particular some ruinously low
sales have been made for cash payment. Although a fair
demand has daily been experienced, the market on the
whole has worn a heavy appearance, and rates still continue
nominal and irregular. The reduce value of the necessa-
ries of life, and the abundant crops which the late harvest
yielded, together with the small stock of manufactures in
this country, are favourable features for contemplation
when the crisis in money matters shall have subsided ; but
the mistrust occasioned by recent disasters can only be
allayed by the lapse of time. !Later advices from India are
the most fl atering yet received. The Bank of England's
resources have so far improved as to bring them within the
limit of the Charter of 1844, which encourages the
hope of low discounts at an early date, the Bank
of France having al eady reduced her interest
rates one per cant. from an influx of bullion. The total
sales of the week ant unt to 26,620 bales, of which 15,790
are American. Speculators have taken 1,590, and Ex-
porters 5,070, leaving 19 960 bales of all kinds to the
trade. The Import for same time is 33,030 bales, of which
14,406 are American. The q lantity known to be at sea
from American ports is about 60,000 bales.
PRICES TO DAY,
_

New Orleans Fair ..6i3 111iddling..614 Ordin Ary.. 3d to 5d
Mobile ;;* ••Gid • • Gid „ ..41 to 53
Atlantic ~ ..6gtl 63 30 to 423
Total taken for Cant'ption, 1857, 1,741,270 bales. 1856, 1,954,030 bales.
Esrslt (actual) „ 233,001 „ „ 248,888 „
Amerinn Brazil Egy,.l..an E. India W. India Total
Stock this day.. 158,670 36,300 14,730 123,710 1,440 331 830
Sam:: time 1856 260,910 23,150 44,170 45,150 770 379,100
Messrs Kershaw and Jardine state:-
We have little change to note in our market during the
past week ; though the demand has been more general, it
hss been vary limited in character, giving buyers a slight
advantage ; throughout, the tone has been feeble, and
holders have submitted to a further concession of 9 to 1
per lb. to effect sales, in all descriptions excepting mid-
dling, which, being very scarce, and much inquired after,
has Maintained previous rates. To day there is a much
better feeling abroad, which has led to incretved activity,
with more confidence and a general belief that we have
seen the worst; and that the improvement in the Money
Market will soon lead to a reduction in the rate of dis-
count, and restoration of trade.
There has been some animation in the Liverpool
Share Market to-day, and piLes have tended
-upwards, under the 'influence of the expectation
of a speedy reduction in the rate of interest
on the Dart of the Bank of England. The
following were the day's transactions :-Blackburn,
84; Eastern Counties, 19=4; Lancashire and York-
shire, 894, 90/ ; Lancaster and Carlisle, new Third
Shares, 7d p ; London and North Western, 944.
941, 941, 94- 94i ; Manchester, Sheffield, and
Lincolnshire, 36, 3.51, 853, 353, 35; ; North British
British, 11 11-16; North Eastern, 23, 223; Oxford,
Worcester, and Wolverhampton, ld ; Dovers, 181,
181, is 0.16, 188, 18 11-16 c; Grand Trunk of
Canada, 91 ; Manchester, Sheffield, and Lincoln-
shire, 3} DP-r Cent. Preference, 63 ; Royal Rock
Ferry, 4. The business for the next account was :
-Caledonian, 38, 381, 391, 388 Eastern Counties,
101 ; Great Western, 49; Lancashire and Yorkshire
Stock, 90:1; London and North Western, 951, 951,
951 ; Manchester, Sheffield, and Lincolnshire, 351,
351, 351. 35 13-16, 351 ; Midland Stock, 831, 833 ;
Dovers, 1.84. 183 ' • North Eastern, 234- ; York and North
Midland, 391; Great Western of Canada, 181; Grand
Trunk of Canada, 01, 9 5.16, 5-16, 9Z-. The
closing prices were as follow :-Blackburn 83. 91,
Chester and Birkenhead, 621 63 ; Caledonian, 38 ;
381 ; Chester and Holyhead, 141 153 ; Eastern
Counties, 103 11 ; East Lancashire, 97, 88 ; Do.
9/. Shares, par, 4 p ; Great Northern, 231, 231 ; Do.
A, 93, 10 ; Great Western, 49, 493 ; Lancashire
and Yorkshire Stock, 901, 91 ; Do. 9/. shares,
par 1 p ; Liverpool, Crosby, and Southport, 183,
183 ; London and North Western Stock, 951, 943 ;
Manchester, Sheffield, and Lincolnshire, 351, 36 ;
Midland Stock, 833, 831 ; North British, 111, 12 ;
North Staffordshire, 43, 41 d; North Eastern -
Berwick, 233 231 ; York and North Midland,
391, 40 ; Leeds Capital Stock, 241, 241; South
Eastern 18 11-16, 18 13-16 ; Dutch Rhenish,
53, 53 d ; Great Western of Canada, 18, 181; Do.
new shares, 21 23 d ; Great Luxembourg, 53, 0 ;
Grand Trunk of Canada, 9/, 9 5-16. The following
were the continuations paid:-Caledonian, 3s;
Lancashire and Yorkshire Stock, 3 even ; London
and North Western Stock, 11-16, 3,3; Manchester
Sheffield, and Lincoln, 43, 3; Midland St cck, 3;
North Eastern-Berwick, 3s ; South Eastern, 3s.
3s. 61., 35., 3s. 0.1. ; Great Western of Canada,
6 I. ; De. new shares, even; Grand. Trunk of Canade,
1-16, Is 2d, 1-16, Is. 2d•
The Money Market continues to improve. Bills
having more than three months to run, which were
lately refused, are now discounted at the current
terms, and an opinion is prevalent that the Bank
of England will soon be in a position to make some
concession in its rate of discount. As far as can
be judged at present, no obstacles are likely to be
thrown in the way of a steady recovery from the
crisis and its effects.
The Funds to-day have risen 3. per cent., and
in every other department of the Stock Exchange
great buoyancy .prevailed. Consols for `Toney
closed at 913 to 911, and for the Account at the
same figure. After official hours the current price
was 018 to
In the London Railway Share Market there was
a pretty large business transacted, and prices of
the leadina shares show an advance. The following
are the closing quotations :-Ambergate, Notting-
ham, and Eastern Junction, 44, 4,1; Caledonians.
763, 7(11; Dutch Rhenish, 53, 5 ; Eastern Counties,
103, ; East Lancashire, 87, 88; Edinburgh
and Glasgow, 58, 60 ; Great Northern, 90, 91 ;
Ditto A, 76, 78 ; Great Westerns, 403, 50; Great
Western of Canada, 183, 183 ; Grand Trunk of
Canada, 353, 363; Great Southern and Western,
96, 98 ; Lancashire and Yorkshire, 90, 901 ; London
and North Western, 943, 941; London and South
Western, 87, 871 ; Leeds Northern, 48, 49 ; Man-
chester, Sheffield, and Lincolnshire, 351, 353 ;
Midland Stock, 823, 823; North British,
47, 48 ; South Eastern and Dover, 611,
623 ; York, Newcastle and Berwick, 91,
923 ; York and North Midland, 803.
After official horns the following were the nominal
prices :-Caledonians 773 ; East Lancashire, 87, 88 :
Great Northern, 903, 913; Do. A., 76, 78 ; Great
Western, 503; Lancashire and Yorkshire, 913, 913 ;
London and North Western, 95i, 96; Man-
chester, Sheffield, and Lincolnshire, 353, 353 ;
South Eastern and Dover, 62, 621 ; Neweastt
and Berwick, 913, P 3; York and North Midland,
803, 81.
The Manchester Market opened with more
cheerfulness ; but rumours of fresh failures cast a
gloom over trade, and in the limited business that
transpired very low rates had to be accepted, both
for Goods and Yarn. There is, however, apparent
inclination to extend transactions towards the
close to day, but without any redeeming feature
in prices.
Our Grain Market assumed a more settled ap-
pearance, but without much increase in the demand.
The reduced quotations for Wheat brought forward
buyers, who operated more freely, and prices
recovered 2d to 3d per 76 lbs. Flour has also
been more saleable, at last week's rates. Indian
Corn, on the contrary, has been pressed, and
receded in value is to 2s per quarter. There was
a better market to-day, and prices of ail articles
end upwards.
On the day of the stoppage of the Liverpool