Northern Times.
Liverpool, Merseyside, England, 1857-09-29 00:00:00

MONETARY AND COMMERCIAL.

LIVERPOOL, Monday' Evening.
The Cotton market keeps steady. The sales
today were about 5,000 bales, including 500 on
speculation and for export. As holders do not press
sales, prices are well maintained.
Under the influence of vague reports of unfavor-
able news from India, the Liverpool Share Market
was extremely depressed during the greater part of
the day. Very little business was transacted, and
at the close, after the publication of the Ind7an
despatch, there was,more steadiness.. The follow-
ing were the day's transactions :-Lancashire and
Yorkshire, 954 ; London and North Western,
96i, 0,4, 6 lc, 53, 6 ; Midland, 801, 80, 793, 80 ;
North British, 224 3, Dovers, 193, 4; Grand
Trunk of Canada, 114; Great Northern of
Canada, 20 7 16. The sales for the next account
were :-Caledonians, 43 ; London and North
Western, 964, 96.4 ; Midland, 80 ; Dovers, 194 ;
Grand Trunk of Canada, 114. The following were
the closing prices : -Blackburn, 74, 8; Chester and
Birkenhead, 653 xd, 66; Caleaonian, 423. 43;
Chester and Holyhead, 164, 16`; Eastern Counties,
113, 11 7-16; East Lancashire, Stock, 91, xd, 92 ; do
new 9/. shares, I xd, 9-16 p ; Great Northern, 244
243; do. A shares, 103, 114; Great Western, 531,
54 ; Lancashire and Yorkshire, 954 xd, 955-;
do. new 91. shares, 3 xd, 4 p ; Liverpool,
Crosby, and Southport 183 xd, 184; London
and North Western, 96, 961 ; ditto 4th Shares,
I, 3 d ; Manchester, Sheffield, and Lincoln-
shire, 401, 403 ; Midland Stock, 80, 801 ;
North British, 123. 12 7-16; North Staffordshire,
44. 4g d ; North Eastern-Berwick Capital Stock,
224. 22 11-16 ; York Capital Stock, 383, 384-;
Leeds Stock, 233, 24 ; Scottish North Eastern,
late Aberdeen, 11, 12; South Eastern, 194 xd, 19,
9-16 ; Dutch Rhenish, 33, 34d ; Great Luxem-
bourg, 64, 63; Buffalo, and Lake Huron, 53, 54 ;
do. New Shares, 58, 53 d ; Grand Trunk of
arnada, 114 ; Great Western of Canada,
204, 204 ; do. Ne w Shares, 4, 4 d.
Through an error in the Official Share List on
Saturday, we stated that the Liverpool and London
Fire and Life Company had declined from 84 to 4
pm. Such is not the ease-the nominal price of
shares to-day was 84 to 83 p.
The Funds fell 1 per cent. to-day, owing to the
rumour of unfavourable advices from India. On
the publication of the official despatch, a slight
alteration took plaae ; and the Market closed at
decline, viz :-Consols for Money 894 to 90, and for
the Account at 90, 904 to 90, 904; and Exchequer
Bills 10 to 6 dis.

In the London Railway Share Market to-day
there was very little business done, and prices
suffered a decline. The following were the closing
prices :—Caledonian 83i, 841; Eastern Counties,
118, 11$ ; East Lancashire 91, 93; Great Northern
97. 98: Do. A Shares 88, 89; Great Western 531.,
534; Lancashire and Yorkshire 959, 96 ; Leeds
Northern 461, 47k; London and North Western
954, 96 ; London and Smith Western 891, 90 ;
Manchester, Sheffield, and Lincolnshire 404, 41.;
Midland Stock 791 80a ; North British 48, 49 ;
South Eastern and Dover 65k, 654; York,Newcastle,
and Berwick, 90, 91 ; York and North Midland
76, 77 ; Grand Trunk Hi ; Great Western Canada
201 204 ; Do. New a, I.
Notwithstanding the approach of the 4th of the
month, when, as usual, heavy payments in corn,
mercial accounts have to be made, there is no
increase of pressure, and at the currenzecharge of
5i per cent. the best description of bills are easily
negotiated. There is a good supply, as the liberal
terms offered by the banks and discount brokers for
deposits bring a large amount of capital into circula-
tion. The activity of trade, as demonstrated by the
official returns issued on Saturday, will ex.
plain why the inquiry is so continuous
for, although
.the Indian mutiny, and the de-
pression in the United States may affect
certain departments, others improve, and thus full
employment is found for available means, and an
accumulation, which would result in lower terms,
is prevented, The high prices of the raw
materials, such as cotton, wool, and silk, also
lead to a greater absorption of cash, but all things
considered, the condition of our commerce with
all parts of the world, is an unqualified source
of congratulation. When 51- per cent. as the
minimum had been established some mouths,
people began to talk of financial and com-
mercial distress, failures in rapid succession were
predicted, and increased restrictions were hel4
to be imminent; but owing to the prudent
policy pursued by manufacturers, retailers, ex-
porters, , these adverse contingencies have not
only been averted, but trade continues sound, and
little complaint is made about remunerative profits.
During the next few days the applications for
discounts will no doubt become more numerous,
because preparations for the shipment of silver on
the 4th, as well as the bills falling due at the same
time, will be in progress, but additional stringency
is not generally apprehended.
The "gerants" of the London General Omnibus
Company announce a dividend of 43 per share, or 5
per cent., out of the profits realised during the six
months ending the 4th of July last. A general
meeting of the shareholders is called for the 20th
of October, in London, " for the purpose of receiv-
ing the reports of the gerants and members of the
Council of oupervision, and the statement of the
accounts for the half year ending 4th July, to CM'
sider a project for new and extensive develop-
ment of the business of the company, and for
other general business." It is reported that by the
" new and extensive development" is signified a
proposal for the company to build a large number
of new omnibuses. It is
.to be hoped that the
shareholders will avail themselves of this oppor-
tunity to demand full and explicit details of the
company's accounts, the more especially if addi-
tional capital is to be spent, It is one of the most
serious disadvantages of companies formed under
the French law that English shareholders are vir-
tually deprived of control over the management of
their property. We believe that by far the larger
proportion of this company's shares are now in the
hands of English holders, to whom they have been
gradually transfnred from French subscribers ;
and, as the English law now confers the privilege
for the attainment of which the undertaking was
avowedly constituted under a foreign law, why
should not the company adopt measures for
registering themselves under the Limited Liability
Act ? Until they do so, and the accounts and
system of management are laid bare, it is evident
that the shares will never stand well in the market.

The traffic returns of all the French railways for
the last week exhibit an increase over those of
last year, with the single exception.of the Mediter-
ranean Company.

The Dutch Rhenish Railway Company advertise
the interest on the first and second series of their
loan of 4,800,000f1.

In pursuance of resolutions adopte2 at a recent
meeting of the company, held at Paris, share-
holders in the Submarine Telegraph Company
have the option of converting their 1/ shares into
201 shares.

The True Briton has arrived from Melbourne,
with 61,893 ounces of gold and 30,400 sovereigns ;
and the !sTourmahal, from Sydney, with 3,334 ounces
and 26,000 sovereigns—the total value of the two
remittances being about 317,0001. The dates, in
each case, have been anticipated.
The advices received this morning by the steamer
Asia, from New York, are decidedly more cheer-
ing, the panic and its effects having partially
subsided. The rates charged for discount aeon-
modation were still high, ranging from 15 to 30
per cent., according to the character of the paper,
but the banks were strengthening their position,
and there was every probability of an early return
of confidence. The " City Banks," in the last
general return, showed a reduction in the amount
of outstanding loans and discounts of about
450,000/, and there was an increase in the specie
to the extent of nearly 400,0001.

At LEWIS & COMPANY'S, Ranolagh-street,
BOYS are CLOTHED from the Agee of Six to TWenfl Years'

LUNDUN o&TTLE MARKET.

-SEPT. 28.

The number of beasts is nearly as large as on Monday last. Trade
is active for cheice deseript ons, at ruby that day's prices, and, in a
f,iw instances, iather more is realised. The supply of sheep is rather
larger. Trade is not quite so brisk, but yrices on the aver ge are
noL lower. Good ca ves are scarce, and about 2d per sro ie dearer.
From Germany and Holland there are 1,610 beasts, 1,680 sheep, and
6g ca:ves; 2,203 beasts from the Northern and Midla,cl Counties, and
400 from Ireland,

Per stone of Bibs. s. d. s. d. Per stone of Blbs. v. d. s. d.
Best Scots, Herefords 4 8 5 0 Best Dos & He-bred .. 0 0 0 0
Best Short-horns 4 6 4 8 Best Long-w 0015.... b 0 5 4
second quality beasts 3 4 4 h Do. do. Shorn 0 0 0 0
Calves 4 4 5 2Es es and 2nd quality 4 6 4 8
Pigs
Best Dns & Hf-breds 5 4 a 6 Lambs 0 0 0 0
Beasts at market, 4,9J4 ; sheep and lambs, 21,430 ; calves, IC4 ;
pigs, 205.