Northern Times.
Liverpool, Merseyside, England, 1859-01-03 00:00:00

MONETARY AND COMMERCIAL,

LIVERPOOL, Saturday Evening

To-day was kept as a close holiday in the Cotton
.Trade, and there is consequently no business to
report.
There is little, if any, variation to notice in the
state of the Liverpool Share Market.
In the London Railway Share Market to-day,
transactions were limited, bUt in some instances
prices show a slight improvement. Cale-
donians have advanced to 89, 881 ; Eastern
Counties, to 64 and 641; Great Western,
to 57 and 571 ; and North Western, to
971, 978 ; South Westerns have declined to 951;
Manchester, Sheffield, and Lincoln, to 391 ; Mid-
land, to 1031, 1034 ; and South Eastern, to 75i,
76. The Foreign lines are at quite nominal rates.
In the Colonial Market, East India have declined
to 108 k, 1081. Joint-Stock Bank and Miscel-
laneous Shares are exceedingly dull, and but little
variation can be reported in prices, London Joint
Stock are 341 ; and Electric Telegraph have de-
clined to 109.

The near approach of the 4th of the month, and
the heavy payments falling due at the close of the
year, have caused a considerable pressure for money
during the last few days. There is a large amount
of capital, at present abstracted from the public,
remaining in the hands of the Bank, which must
very shortly be paid out in the dividends, and for
the public services, so that the ordinary channels
of business will soon experience a favourable turn.
The rate charged for first-class paper has been
fully maintained up to the Bank minimum, but for
other sorts higher rates have been readily given.
Advances upon Government Securities have
ranged during the week from 2 to 5 per cent.
The prospects of the new year are considered
highly satisfactory. It is confidently believed that
a steady revival of business will be experienced in
all directions, and unless political affairs should
take an unfavonrale course, a return of prosperity
may be fully anticipated. The advices from for-
eign and colonial markets are of a more promising
character than any that have been received since
the crisis of 1857, and an impulse will no doubt
be given to trade by the treaties lately concluded
with China and Japan. Although numerous
loans are likely to be negociated during the
ensuing twelve months, monetary affairs will, no
doubt, remain in a favourable condition, and the
mercantile community may therefore calculate
upon ample facilities for the extension of engage-
ments. Among the borrowers who are expected to
make their appearance in the London market,
Austria and Russia wil probably be the most con-
spicuous, but Portugal and Egypt are also in want
of financial assistance. At present, however, the
various projects are not fully matured, and conse-
quently they are not expected to exercise an imme-
diate influence upon the Money Market. -

The Funds to-day were dull at the closing
quotations of yesterday : Consols are quoted 96-2-
to 964 ex div. for the 11th of January. The Three
per Cents. Reduced have been dealt in at 97 to
971 ; the New Three per Cents., at 96Z to 97-Z- ;
the Indian Four per Cent. Debentures of the first
issue at 991 to 99Z ; India Bondi, at 16s. to 18s.
; the March Exchequer Bills, at 40s. prem. ;
the June Bills, at 375. to 40s. prem., showing a
rise ; and Exchequer Bonds, falling payable in
May next, at 1001. The new Turkish Loan
retains a drooping tendency. The scrip of the
first series is now quoted 1Z to 1-a- dis., and that of
the second series, 14 to 11 dis. The Six per Cents.
of 1854 are likewise fiat at 912 to 92. Dutch and
Venzuelan Bonds are inquired for.

Respecting Mines, the Mining Journal of to-day
says—

The Mining Share Market, f,,r the time of the year,
has been in a remarkably active state ; but the demand
for certain shares has been so much greater than the sup-
ply, even at increased rates, that, consequently, actual
transactions have not been so extensive as they would other-
wise have been. In regard to the Share Market—the
state of which we have from week to week, throughout
the year, endeavoured to keep our readers informed of as
correctly and as truthfully as it is possible in such a
fluctuating property to do—we have only to observe that
we hope the new year may prove as prosperous to mining
adventure as the most ardent could wish it, and as the
present appearances lead us to expect. A large amount
of capital is coming into the market, and a great, and
perhaps an unprecedented rise may take place in the
shares.

During the past week the movements of the
Precious Metals have been important. The imports
have amounted to about £892,654, including
£371,764 from Australia by the Kent ; £16,000
from the United States by the Europa, £36,000 by
the City of Washington, and £135,083 by the
Persia ; £3,380 from the Cape of Good Hope by
the Norman ; £186,427 from the West Indies by
the Atrato ; about £44,000 in gold from Russia ;
and £lOO,OOO in silver from the Continent; The
shipments have been confined to those through
the London Custom-house, estimated at £34,584.
The specie announced to-day by the Persia- from
New York, and the Atrato from the West Indies,
is included in the above particulars.
The settlement of the Specnlative Account in
the Tallow Market, fixed for yesterday, passed off
quietly, although the amount involved was heavy.
With the exception of Consols, there is no com-
modity that gives rise to so much pure gambling
as Tallow. A person pays a certain sum for the
option of taking, months hence, at a price now
fixed, a certain quantity of Tallow, or he may
purchase the option of selling Tallow under
the same conditions. It is by no means
an uncommon circumstance for speculators to
have open numerous transactions, both in " puts"
and " calls," as they are termed, in addition to a
number•of absolute purchases or absolute sales, all
fixed for a settlement months distant. The settle-
ments in Consols takes place every month, but
speculators for tallow are even now entering into
transactions for the last three months of the year
1859.

According to rumour the Great Western of
Canada Railway Company are to lease and guar-
antee the Buffalo and Huron Railway. We
believe the facts to be that the (Janadian
directors of the Great Western Company have
adopted a proposal of this kind, which, however,
the London directors of that company decline to
ratify, objecting altogether to give a guarantee.
They are apparently willing to effect a fusion of the
two undertakings, but if the present relative
values of the two stocks are to form the basis of
such an arrangement, the directors of the Buffalo
and Lake Huron Company will probably with-
hold their assent. Buffalo, Brantford, and Gode-
rich Railway bonds, which were endorsed by the
Buffalo and Lake Huron, were quoted at a con-
siderable advance during official hours.

The following are the Gazette average prices of
Muscovado Sugar, for the week ending Dec 28,
1858, exclusive of Custom's duties payable thereon,
on the importatien thereof into Great Britain :
From the West Indies 27s 41d per cwt ; from the
East Indies, 26s 61d per cwt; average price of th-
foregoing descriptions, 27s Oyd

in sterling exchange had checked business, and led
The letters
London
eoin•tdhoen Persiaw ast ftlp2s
citunalutitegeottu,lll3l:ti
plataltii ed._esa,,pcod:riiNipicahetit3isee,lo.;
to the shipment of specie. Although the
market was quiet, it closed firm at 109 f, to
109 k for bills on London. Money continued I
abundant. Stock had shown
\sroaoinanduecepamrcitcaieisrkitevitns
York
lio,rik
were dull, and rather low.
but at loweraBt3ol
iiNot
;otpelcrewbieacnole
ytesris..
os.
iln.
kCoNI
Banks,ol,css h‘aivnaslngoBrer4akt:e
ii.s,3nw .Erie epr
Shares,
rhNks e:::
11‘CCI,I,oeeanteit.kti:eaillst3 6
e demand agailvnass
centslnaia. hi ga
il, her.
buyers.
Nl)i were again
By the arrival of the Weyst
fa3sealixi)iiiedsolcsiuubilsili.AsttiorietePtidstern Flour t
Exchange on hreavy'
we Statelam
Havannah on the 16th ult.,
that business at
ranged from 19st Jamaica2l continued limited. Sugar
over 500 o s ; coffee, 38s to 50s, at which
bags changed
hands. East India rice
14s, and. Patna 17s. Freights very dull: nothingoffering.
:Exchange on London, ' 90 days, I per
cent premium
; 60 days, 1 do. ; 30 days, 11 do.