Northern Times.
Liverpool, Merseyside, England, 1857-07-16 00:00:00

MONETARY AND COMMERCIAL.

LIVERPOOL, Wednesday Evening.
There continues to be a good business done in
Our Cotton Market, and prices of all kinds are
extreme. The sales to-day were about 10,000
bales, including 1,000 on speculation and for ex-
Port.

There was rather more activity in the Liverpool
Share Market to-day, but towards the close of the
market a dull feeling was experienced, and . prices
ciceied with a downward tendency. The following
were the day's transactions :-Caledonian, 371,
371; Eastern Counties, 11 7-16, 111; Great
Western, 641; Lancashire and Yorkshire, 1008,
1001; Lancaster and Preston, 321 p; London and
North Western, 1031, 1031, 1031, 1021; Man-
heater, Sheffield, and Lincolnshire, 438, 431, 431.
431, 431, 431; Midland, 831; Buffalo and Lake
Huron, 4 15.16 d; Demerara, 4 d; Grand Trunk
of Canada, 131, 13 9-16 ex interest; Great
Western of Canada, 211, 211; St. Helens Canal
and Railway, 41 pref; D Shares, 92. The
following were the closing prices :-Blackburn,
8; Chester and Birkenhead, 70, 701 ; Caledonian,
,37i, 372; Chester and Holyhead, 181, 182; Eastern
°llnties, 111, ill; East Lancashire, 962, 97; Do.
e‘
shales 6, p ; Great Northern, 241, 242; Great
western, 641, 641; Lancashire and Yorkshire Stock,
Ir,i, 1001; Do. 91, shares, le, p ; Liverpool,
Zr"bY, and Southport, 191, 191; London and
villa Western Stock, 1031, 1036; Manchester,
Sheffield, and Lincolnshire, 43k. 431; Midland Stock,
831, 831; North British, 101, 11; North Stafford-
shire, 4a, 41 d; North Edstern-Berwick, 221, 222;
.tYork and North Midland, 35/, 36; Leeds -capital
t,?ck, 221, 221; South Eastern and Dover 22
""16, 221; Scottish North Eastern, 121, 121 ; Buffalo
and Lake Huron, 41 xd 44 d ; Ditto New Shares,
IVxd 4 d ; Dutch Rhenish, '4 1 16, xd 4 d Great
stern of Canada, 211 xd 212 ; Ditto New Shares,
ad P ; Great Luxembourg, 11 9-16, 11 7-16 d ;
Grand Trunk of Canada, 13.9-16, xd 13 11-16.
The Funds continue to fall. A fresh decline of
4 Per cent. took place to-day, and the transac-
ums were rather limited. While there is some
_relight measures respecting the aspect of affairs in
e4twie, there is yet sufficient confidence in the
,' easures adopted, and being adopted, by the
b.
'lona° Government, and the Money Market
generally is easy. The supply of money in the
discount market still increases, and, being much
to excess of the inquiry, the competition amongst
those having funds to employ in negotiating
Commercial bills, is acting beneficially upon the
lierent quotations. Instead of an eager inquiry
for deposits on call, the joint stock and other
ter
now refuse to allow such high
Zlns for sums offered to them for use. The
a'sequence is that the rates for discounting
ti:at-eiass paper are considerably under those of
the Bank of England. It is, therefore, presumed
ai the anticipated reduction will immetliately be
te,lt'e by the authorities, because, during the last
tial°l °r three days, the applications at that estab•
au 'tent have almost ceased. The temporary
asPension of the strain upon their resources has
n doubt strengthened the position of the Bank,
eke "le opinion, prevails that the contemplated
theltion will be made on Thursday next. Under
ee " circumstances, those who are in need of
erieuniarY assistance are waiting till after that
°d, because if the official rate is reduced to
d'outer `cent., the bill brokers and others will, no
submit to a still further concession. On the
as Exchange the inquiry for money is' limited,
oves' moderate terms are only charged for carrying
and loans are obtainable at 5 to 51 per cent.
antounts of gold 'sold to the Bank are still
iesldereble, and yesterday about £150,000 (form-
-4 Part of the supply transmitted by the Francis
theal:i end the Roxburgh Castle), were added to
-4° metallic resources in Threadneedle-street. It
re..alan stated that the greater part of the amount
a 'elved
ated by the James Baines will be similarly
PPeopt i .
t 4 for
prices of Consols declined to-day to 911 to
for Money, and 911 to 91* for the Account, at.
'ltch figure the -Market closed. Exchequer Bills
pyrehW -coated at 3 dis. to par., and the New Three
Ceets-at 912 to 911.
In the London Railway Share Market to-day
there was only a moderate business done, but on
the Whole foprices were pretty well maintained. The lle • P
efewlteee were the closing prices :-Caledonian,
752 ; East Lancashire, 971 ; Great Northern,
ea 99 ; Great Western, 631, 64 ; Lancashire
451 Yorkshire, 1001, 1001; Leeds Northern, 44,
S, London and North Western, 1031; London
3 South Western, 1001, 1002 ; Manchester,
d effield, and Lincolnshire, 431 ; Midland Stock,
83a ; North British, 43f, 44; South Eastern
ea(' Dover, 741, 742 ; York, Newcastle and Berwick,
92 ; Ydrk and North Midland, 711, 72; Great
:stern of Canada, 211, 211; Grand Trunk, 14*.
; Oxford and North Western, an 9 341 After
ffieial hours the business done was at
771 c fo ollowing quotations : - Caledonian, 75f,
; Eastern Counties, 11#, 11f ; East
:a.ncashire, 97, 98 ; Great Northern, 991;
A, • 90, 91 ; Great Western, 631,
do' Lancashire and Yorkshire, 1011, 104; Lon-
n and North Western, 1031 ; Manchester,
Z"Llefaeld, and Lincolnshire, 43i ; Midland
t°ek, 84, 831; North British, 43, 44; South
-eastern and Dover, 741, 741; York, Newcastle, and
46erwick, 911 ; York and North Midland,
71a
The general Produce Markets remain dull and
naninaate, and prices of the leading articles of con-
"roption are merely nominal.
Pl iest
A the London Corn Mirket to-day the sup-
of
grain and produce were small. The
attendance was also limited, and very few sales
e- _
re effected at the prices of Monday. Norfolk
Flour was offered at 42s per sack without inducing
purchasers to operate.
virThe half-yearly meeting of the London and
~,,estminster Bank was held to-day. From the
7ort, we learn that the net profits of the half
year were 104,0211. The deposits ha 4 increased
,t'alf a million. The report was
,s'iyidend was declared at the rate of as-
18sed pera cent
er annum. The Shares of the Bank, on which
',re is 201 paid up, are worth about 501.
At the annual meeting of the Union Bank of
t(`:.)Ldon, today, .the profits of the year were stated
eateue_l36,226l, and a dividend was declared at the
There
20 per, cent per annum.
et V!_ ere is rather more business doing in Yarns
vite",tinchester, and prices are f-d. per lb. higher
fur7he week. Even in mule yarns for India,
eitead2lch the demand is slack, prices are quite
has tY, and indeed rather stiffer, but ne business
hee.,'en done in them to-day. The continental
exiie',B seem well disposed to operate to a fair
thee'', at the full prices current last week, but
114 are kept in check by the additional advance
tiokp demanded by spinners, and which has to
is • extent restricted business. Notwithstand-
trooetll4l) however, a moderate amount has been
No" trt this departtnent, in general at extreme
geea The demand runs most actively on 30's
tter twist of the better qualities, which have
N' fully Id. per lb. during the week, and in
which the Russian buyers have dealt freely. For
of st the comedium and lower counts of Yarn in
P, warp, and bundle, the demand is tolerably
active, although a good deal checked by the
'lattffenin of prices.
_We cannot report so favour-
ute of the goods market as of that for yarns. The
eel:to
.us nature of the political intelligence from
,o,da has checked the demand for that market ;
ts manufacturers are at the same time aiming
er,,,lgher prices, to cover the enhanced cost of
eguction consequent on the rise in cotton, almost
nothio
g has been done in India skirtings,
Leeds'
IS an evident indispositiOn to do business in
e", Which can only be accounted for on the
le position that the approaching wool sales have
pri merchants to defer any purchases until the
ce of the raw material for the next few months
Should be indicated.
between co iT epsepio. dvernactiecie'e,lating to the treaty proposed
tioe _ n and England, for the protec-
t-et-A. the
'lane Islands, which the British
lie have declined to ratify, has just been pub-
ralt The arrangements would doubtless in
obvtiYouzephects h.ave been desirable, but it would
.
have Involved the possibility of contin-

gencies in connection with which it would be most
impolitic to incur any responsibility.
The Peninsular and Oriental Steam Navigation
Company have announced their intention to de-
spatch their steam-ship Candia, of 2,500 tons, and
450 horse-power, for India, via the Capo, on the
sth of August, and that she will carry at reduced
irates officers who have been ordered to rejoin their
regiments. The Candia may be expected to reach
Ceylon in 65, Madras in 70, and Calcutta in 75
days from Southampton.
It appears that there is really some foundations
for the rumours of an attempt at a negotiation of
a New Turkish Loan. The sum spoken of is
6,000,000 sterling, which a certain London firm, co-
operating with another house in Vienna, is stated to
have an idea of offering to the English public at
84 per cent., in a 6 per' cent. stock. It is alleged
that the operation in question is not to be regarded
as a Turkish State Loan, but rather as a Loan to
the Sultan, whose private domaines, itAs reported,
are to be specially hypothecated as security.
About 80,0001. in Silver arrived in the Thames
yesterday from the Continent.

The Public sales of Indigo in London, at which
13,132 chests will be offered, • commenced yester
day. As will be seen' by the following remarks
contained in the Circular of Messrs. Jewsbury and
Co., the news from India has had an important
influence upon the market for this article. " The
trade meet at the usual time, ten o'clock, to com-
mence the sales, but in consequence of the letters
from India being only recorded that morn-
ing, an adjdurnment till twelve o'clock was
proposed and carried in order to give time
for the letters, SL.., to be read and to receive
instructions. At twelve o'clock the sale com-
menced, under considerable excitement, there
being -a large attendance of both hoine and
foreign buyers ; importers were very firm, and
Bengal qualities sold at an advance of 3d to 6d
per lb. ; Kurpab, 3d to 4d per lb. advance, and
Madras par to 2d per lb advance on last May rate
Importers have withdrawn freely to-day, which
they will probably continue to do under the present
aspect of Indian affairs. 999 chests have passed
to-day, 600 of which were withdrawn, 155 bought
in, 211 sold. The following are the highest and
lowest prices :-241 Bengal, 3s 7d to 7s 6d per lb. ;
104 Madras, 2s 3d to. 3s 9d per lb. ; 36 Kurpah,
2s 3d to 4s 5d per 112,*•' 18 Calcutta Fig, is 6(.1 to
is 8d per lb. 600 withdrawn.
The advance in the Indian Exchanges, which at
Bombay is equal to 2 per cent., has increased the
demand for silver, and it is expected that the
shipments on the 20th instant -will approach half
a million sterling. If the exports to India, how-
ever, are augmented, it is presumed that those to
China with diminish, the rates at Hong Kong and
Shanghai being lower, so that the actual amount
sent away by these bi-monthly steamers will,
perhaps, after all, be on a more moderate scale
than that established on recent occasions. Another
reason why the remittances to China are likely to
be restricted is the favourable result of the silk
crops in Europe, and the consequent weakness in
prides, which must necessarily deter importers
from sending such large orders as heretofore.
The shipments of silver to the East by the Indus
on the 20th inst. will be to a certain extent checked
by the comparative smallness of the stock of silver
on sale ; hut as the London market for silver is now
sensibly firmer, additional supplies of the metal will
doubtless be drawn from the Continent. According
to present appearances, the total remittances on the
20th will reach about 600,0001., but it frequently 1
happens that fresh orders come in suddenly at the
last moment. On the other hand, caution is
imposed upon the parties engaged in these opera-
tions by the apprehension that the East India
Company, with the view to attract additional funds
into their home treasury, may at an early date
make a further reduction of id in their rate of
exchange on India. The reduction of a i an-
nounced on the Ist instant has evidently failed to
effect the Company's object.
A general meeting, convened by circular, was
held yesterday at the London Tavern, of deputies
from the joint-stock banks of England, Wales, and
Ireland, for the purpose of taking into consi-
deration the Joint-Stock Companies Banking
bill brought forward by Mr. Lowe. At this
meeting it was announced, as the result of the
interview which bas taken place between Mr. Lowe
and a deputation on the subject, that joint-stock
banks formed prior to the passing of Peel's Act
are not intended to be included within the opera-
tion of the bill, unless they should specially apply
for registration under it. Power to this effect is to
be given in the bill. The London banks classed in
this category are, it will be remembered, the Lon-
don and Westminster, the Union Bank of London,
the London Joint Stock Bank, the London and
County Bank, and the Commercial Bank.