The Northern Daily Times.
Liverpool, Merseyside, England, 1857-05-07 00:00:00

MONETARY AND COMMERCIAL

LIVERPOOL, Wednesday Evening.

The Cotton Market was rather buoyant to-day,
a large business being done, and prices advancing
about 1-16 d per lb. The sales sum up 1,200 bales
of which exporters and speculators took fully 6,000
bales. The present position of the Cotton Trade is
worthy of careful examination by all interested, and
the following estimates can be made with
tolerable certainty. I❑ the first place, " consump-
tion" calls for our attention. We told by the Man
Chester Circulars that, although there are instances
of mills consuming less than la-•t year, there are
new mills at work, which almost counterbalance
the reduction ❑amed, and that the present rate of
consumption is nearly the same as last year. We
are told also that the stock of Cotton in spinners
hands is absolutely nil at the present time. They
held

Oa Ist January, 1857, about 80,000 bales of American.
An 'have taken since that date 464,000
st
Exporters have cleared at Cus. i 10,000
torn House .... ... - .... . )
And estimate of purchases for 1 30,000 • .
export not yet shipped .... i ~
Total actual consumption
.. I 5.84:000s May, oito 1 t 18"" .
and export
_.... .

Or sexy 17 weeks at 34,400 bales per week.

We have every reason to thick that this is not far
from the truth ; but, to meet any objeetor, we
will place for our future requirements 10 per cent
iesi, or. say 31,000 bales of American per. week,
We may be permitted to remark that had the con-
sumption really fallen Off. tol any considerable
extent, we should, long ere this, have. heard of
complaints from the hands, and 1 bitter dis-
tress in the manufacturing districts. Now ,we
will turn our attention to supply for the next
six months,. say to Ist November. The crop
is estimated by many at three millions, and we will
take that figure as our basis, although we see no
reason to be sure of over 2;950,000. The receipts
after this period last year were 460,000; rind 'few are
sanguine enough to expect more than half as much
for this year
Bat we will presume the receipts will be 30Q000 bales more
Stock in ports at latest date 440,000 „

740.000 bales

Of this quantity Great Britain may get 370,000 „
Now at sea 230,000 „
Stock in Liverpool 390,000
LOSS bought for export 30,000...360,000 „

Total supply to Ist November 1857 060,000 bales
27 weeks requirements at 31,000 per wk. 837,000

14aving stock of 123,000 bales
and for the remaining eight weeks ut. the year
we have to depend on an import :248,000
bales to, keep our stock up to: that,.low 'level.
We do not -wish-,to take either a gloomy or a
sanguine:view:of our ,position, but to get if pos-
sible as near the truth as we can, and place
before the trade what may reasonably be looked
forward to. We have taken a very moderate esti-
mate of. consumption. We have placed the
requirements for export at 40,000 for the past four
months, arid on the same ratio for the next six
months 60,000, or a total of 100,000 .bales, against
130,000 bales last. year. We have estimated the
crop, and the :proportion England will get of the
balance to be -shipped, at as high a figure as
prudence will justify ; and. ,yet we come to the
final result that the . stock of American cotton
will be reduced to 123,000 bales by the Ist of
November next, and to maintain that stock, can
we ex. ect, from the late accounts of the cold season in
the Cotton diltricts, to receive 248,000 `bales in Nov.
and December next ? It needs no great stretch of
foresight to predict that a cheaper Money market
will improve business in. Manchester; will sti-
mulate consumption. and will enhance the value
of the rtw material and no counteracting
infirienifie can prevent it.
The Liverpool Share Market to day was not so
active, and although a fair business was transacted,
prices are not so firm as on yesterday. The
following were the days' sales :-Caledonian; 348 ;
Eastern Counties, 11•13-16,1, 13-16, 1 ; Lancashire
L
and Yorkshire, 102 k, 2, 1-7 g, 2,7; London and North
Western, 1)58, Manchester, Sheffield, and
Lincolnshire, 40, 391 8 ; Midland, 83, 22,
North British, 10, 1316; North Eastern,
214. 4 ; Dovers, 221, 4, k, Q, a; Grand Trunk of
Canada, 16k, 15-16, k-,1, k, 9-16, ; Great Western of
Canada, 241 ; ditto Now, 21, 5-16 p. The following
were the closing prices:-Blackburn, 8/, 9 Chester
and Birkenhead, 66k, 67 ; Caledonian, 34 13-16,
34 15-16 ; Chester and Holyhead, 171, 184 ;
Eastern Counties, Ili, 11 13 16; East Lancashire,
981, 99; Do. £9 shares, 1.1-16, 13-16, p ; Great
Northern. 241, 9.44 ; Great Western, 67, 671 ;
Lancashire and Yorkshire Stock, 102, 1021 ; ditto
.R 9 Shares, 1 146, 1 3-16 p; Liverpool, Crosby, and
Southport,.l9l, 19k; London and North Western
Stock, 1056, 105 k ; do. k Shares, .3-16, A d ; Man-
Cheeter, Sheffield, and Lincoln, 391, 40 ; Midland
Stock, 821, 821 ; North British, 10 13-16, 108 ;
North Staffordshire, 5,46 d ; North Eastern-
Berwick, 21a, 21k ; York and North Midland,
32k, 321 ; Leeds Capital Stock, 208, 20k ; South
.Eastern and Dover, 22 9-16, 22a ; Scottish
North. Eastern, ;13k, 131; Buffalo and Lake Huron,
p ; do. NeW shares. a.. 8p ; Patch. Rhenish,
1,. k d ; Great Western of Canada, 241, 241 ;
ditto New Shares, 2 5-16, 2 7-16 p; Great
Luxembourg, 11, 10k d ; Grand Trunk of Canada,
16 7-16,-164.
The market for the Public Funds and Securities
to day was rather dull and inanimate at the begin-
ing, but as the day wore on rather better feeling
Set in, and an advance of k per cent was estab-
lished. . Consols for money- were quoted-itt noon
at 931 to 93#, for the June account at 931 to 938:
The closing price for the former was 806, and fur
the latter 93k. Exchequei Bills, June, were quoted.
at 5 dis to par, and the New Three per Cents at
928 to 921. •
The. London Railway Share Market was very
inactive to-day. The following were the closing
prices: - Ambergate, Nottingham, and East.
Junctioo,sl, rtf ; Caledonian,69l 70; Edinburgh and
Glasgow, 55, 56 E stern Counties, 114, ; East
Lancashire, 081. 981 ;.. Great Norther'', 97,2, 98 ;
ditto A„88, 89 ; Great Western, 661, 671 ; Lancashire
and Yorkshire, 1021; 'Leeds Northern, 40k.;
Loudon and North Western, 1051, 1058; London
and South., Western, .104 ; Manchester, Shef-
field, and Lincolnshire, 391 404 ; Midland
Stock, 82/, 82/ ; North British,' 43, 44 : South
Eastern and Dover, 75#, 75k; York, Newcastle and
Berwick, 868 87k; York and North Midland 651 66;
After official hours the prices paid were-Cale-
donian 691, 70 ; Eastern 00111'16M 111 llk ;
East Lancashire, 98, 99 ; Great Northern, 971,-, 98 ;
Do. A. Shares, 88, 89 ; Great Western, 66k, 67k ;
Lancashire and Yorkshire, 1021, 104 ; London and
North Western, 1051, 1058 ; Manchester. Sheffield,
and Lincolnshire, 401; Midland Stock,.B3l; North
British, 43, 44; South Eastern and Dover, 75-g,
75k ; York, Newcastle,' and Berwick, 86/, 878
yo,k and North Midland, 65k, 66. -
The intelligence from Melbourne by the Euro-
pean gives another warning with respect to the
excess of importation from this country. There
is a glut of British goods in the Australian market,
and prices have in consequence been greatly
depressed. From-the mode of doing buiihess with
that distant country, the loss arising from this
state of things will fail chiefly on this side, and it
behoves our. exporters to Australia to be upon
their guard, • and make sure of a deroand before
sending their means.and substance to the other
side of the world. The state of business was:so
unfavourable that several ;of' the smaller Melbourne
firms had failed, and worse consequences were
only prevented by the liberal accommodation
afforded by the Banks. It is a pity that by our
own excess of enterprise and adventure Australia
should prove a land of gold to every country but
ourselves. It has doubtless been more than nsnally
difficult, from the great distance of Australia, and
the irregularity of the communication between
the two countries, to regulate our consignments to
that market ; but these difficulties' have now been
greatly obviated by the four new line of mail
steamers, and when intelligence from Melbourne
can now be regularly obtained within fifty days, it
would be unpardonable were our exportations
to Australia to be conducted in the same hap!,