The Northern Daily Times.
Liverpool, Merseyside, England, 1857-01-27 00:00:00

descriptions of bills very much depressed, with, but a
moderate enquiry, and large offerings. Since thee, and for
the past three days, the sales of cotton have continued large,
consequent upon which the offeringi of both foreign and
domestic bills have been further increased, and with, if any-
thing, a decreasing enquiry, prices have again given way,
the market closing yesterday very heavy and dull at our
quotations. Bills on England have been sold at from 64 to
7 and 71 for fair to good, and A 1 clear bills, 71 per cent.
premium, being occasionally paid for fancy names for direct
remittances. Even at this reduction, buyers operate but
sparingly, anticirer eitin a still greater and more positive de—
cline for the better gradeb of bills. Bills on France continue
slow pf sale. The market ranges from 6 281 to 6 32* per
dollar. Time drabs on the North are more depressed
than when last noticed. The enquiry is limited to
A 1 signatures. direct on New York, for which 2*
per cent discount may be considered the very best obtainable
rate. Good. .to fair signatures direct on New York and
Boston, range from 21 to 2* and 3 per cent discount. Bills
on Baltimore end Philadelphia, payable in New Yurk, caall
not be sold yesterday at the close of business, at better than
21 to 3 par cent discount. Sight funds are very freely
offering, and the market wears a dull and heavy appear-
ance. The banks hold ,at ato I per cent dis. for checks.
Out of doors eight drafts sell at from y to 1. per cent died.
3,5, dud 10 day drafts range at from * to It and 17-, per cent
disct. We quote s'erling clear bills 61 to 7 and 71, per I
cent prem. Francs 5 281 to 5 32* per dollar. New York.
Boston, tee, 60 dLy draftee 21 to 21 and 3 per cent disct.
Sight bank ch'.cks, to 4 per cent. Out of door sight
drafts, to 1 per c,nedis. _ _

Private adviees from Boston inform us that the
Money Market in that city is well supplied with
capital, especially for first class notes, which are
scarce in the street; second grade names are more
freely offered and command one per cent a month
readily. The price of money has been unusually
steady for some weeks now, and what iS techni-
cally termed " stringency," has hardly been
realised in our market for a long period. Busi%
ness generally throughout the States was steady
but not active. The demand for imported produce
was to a moderate extent, but the supplies were
fully equal to the consumptive requirements.
" Considering the fact," says the last number of
the New York Shipping List, " that the shipping
interest of this country have been unproductive
the last two or three years, it is a little remarkable
that such large additions are constantly making to
our already large maritime force. At the East
there is a large amount of new tonnage on the
stocks. The fact is, the habits of those engaged
in the marine carrying trade are fixed and cannot
be changed in a few months— nor a few years even.
With the constant'developrsent of new channels of
trade, howev, , the shipping interests cannot in
the common course of events, remain long so
depressed as at present. Every navigable sea
and ocean are now flocked with American vessels,
and in the course of time it is not unlikely that
American bottoms will monopolise the larger por-
tion of the carrying trade of the world."
The Australian Agricultural Company have
issued a report preparatory to their half-yearly
meeting on the 30th. A loss appears to 1-la7c
been incurred on the operations of the company
for 1855 of 4,4t01, and no dividend is recom-
mended. The! agricultnral department having
proved a failure, is to be extinguished. The last
returns of stock show 43,094 sheep, 9,947
cattle, 1,276 horses and ponies, and 55 asses
and mules. During the year 10,530 store
wethers and 700 cattle were purchased for 5 787?
The sales in the same period amounted to 11,3431
Wool also produced 8,8921., and land at Newcastle
and Port Stephens, 12.358. The number of persons
employed by the company was 380, of whom 31
were natives or Chinese With regard to the col.
lieries, an abstract is given of the favourable report
of Mr. Odernheimer, but it is stated that, owing to
the damage inflicted on the coal trade in 1855 by
the excitement in the labour market, the with-
drawal of the ocean tteaniers, and the specula
tive shipments from England, the profit derived
from them was only 6771, while 92121 was expended
in their development. They are now, however,
yielding supplies previously unattainable. The
arrival of the engines and machinery despatched
from London has not yet been advised. On the
Port Stephens estate a large formation of magnetic
iron ore has been discovered, and a Government
survey is now in progress from the harbour to the
New England district, which, it is hoped, may
result in a new road being made. A new township
has been laid out in the harbour, to he named after
the Governor-general,. Sir William Denison. Mr.
Hodgson,. the new superintendent of the company,
had arrived out in September, and had formed a
committee of advice at Sydney, consisting of Messes.
Arthur Daniel, Edward Knox, and William Brown.

Comincrval Enteltiqcnce.

LIVERPOOL COTTON hfARKET.-JAN. 26.

We have again to report' a very steady market for
cotton, the demand to•day has been active, and with only
moderate offerings, prices are firm. The sales—including
350 Pernambucos 71d to Ba, 40 Bahias 'ad to 71d, 70
Maranhams 8d to Bld, 500 Egyptians 7gd to 90, 1,.%0
Surats sid to 6d—are reported 10,000 bales, of which
2,500 are on speculation and for export.