Northern Times.
Liverpool, Merseyside, England, 1857-09-11 00:00:00

MONETARY AND COMMERCIAL.

LIVERPOOL, Thursday Evening.

The Cotton Market continues active, though the
business done to-day was not near so large as yes-
terday. Prices continue very firm.. Tc-lay the
sales were 10.000 bales, including 2.000 on specu-
lation and for export.
There was rather more business done in the
Liverpool Share Market to-Jay, but generally
at lower prices. Sheffields, howevea form
an exception ; they opened at 1 per cent.
advance, closing flatter at 411- Caledonians have
shown weakness. The following were the day's
transactions :-Birkenhead, Lancashire, and Che-
shire, 661, 661, 661; Caledonian, 421, 44 42, 411;
Eastern Counties, 111 ; Edinburgh, Perth, and
Dundee, 81, 81; Lancashire and Yorkshire, WO!,
1004 ; London and North Western, 1001, 1.00,
994 Manchester, Sheffield, and Lincolnshire, 421,
421, 421, 411, 41.1 ; Midland, 817-3, Blt, fill, 811 ;
North Eastern, 22,i ; Leeds Capital Stock, 25 ;
Dovers, 218, 211, 21 3-16 ; Grand Trunk of Cana la,
12a ; Great Western of Canada,2li, 21 "7-16. 211;
Great Luxembourg, 6 15-16 ; North Union A 219
Liverpool Borough Bank, 8; Liverpool and
London Fire and Life, 81 p; Steam Tug
Company, 10k. The following were the
closing prices :-Blackburn, 74, 8 ; Chester
and Birkenhead, 661, 67; Caledonian, 41?-3, 411 ;
Chester and Holyhead, 17, 171; Eastern Counties,
111, xd 11 7-16 ; East Lancashire, 961, 97 ;
D). 91. shares, 1, 9-la p; Great Northern, 24,
241; Do. A, 11, 111; Great Western, 65, xd 55i;
Lancashire and Yorkshire Stock, 100, 100} ; Do.
9/ shares, 1, p; Liverpool, Crosby, and South-
port, 19, 101; London and North Western Stock,
99, xd 100; Manchester, Sheffield. and Lin-
colnshire, 411, 42 ; Midland Stock, 81,4, xd 811 ;
North British, 121, xd 121; North Staffordshire,
41, 4 d ; North Eastern-Berwick, 23*. x-1 231 ;
York and North Midland, 391, 391; Leeds Capital
Stock, 241, 241 ; South Eastern and Dover, 218
11 3-16; Scottish North Eastern, 12a. ; Buffalo
and Lake Huron, 41, 41,1 ; Do. New Shares, 4, 31 d ;
Dutch Rhenish. 3f, 31 d ; Great Western of
Canada, 211, 21i; Do. Nef Shares, 5-16 7-16 p;
Great Luxembourg, 61, 7 ; Grand Trunk of
Canada, 1,21, Ufa'.
The Bank of England Directors at their meeting
to-day did not make any alteration in the rate of
discount. As this was anticipated it did not
affect the funds to any extent, which throughout
the day remained dull and inanimate at the nom-
inal quotations of yesterday. The Money Market
keeps moderately active, and some few English
and Foreign Bills of the first class, have been nego-
tiated at 51 per cent, but these instances are by
no means numerous. The continued influx of
gold is likely to produce increased ease, and
towards the end of the month it is expected that a
very large amount will arrive from Australia, as, at
least, a million and a quarter sterling left the
colonies in July. At present there is no demand
on continental account, and the limited operations
in silver insure a continuance of sales to the Bank
of England To-day Consols for Money closed at
901 to 901, and for the Account at 901 to 901 ;
Exchequer Bills 7 to 2 dis. After official hours
Consols for the Account were nominally quoted at
90 11-16 to 90 13-16.

In the London Ittilway Share Market to-clay,
there wts very little business transacted and
prices show a decline of 4 to 4 per cent. The
following were the closing quotations :—Cale-;
donian, 831, 834; Eastern Counties,ll 5-16, 11 7-16
East Lancashire, 96, 97; Great Northern, 951, 96& ;
Great Northern A, 871, 831: Great Western, 541,
551; Lancashire and Yorkshire, 1004, 1004; Leeds
Northern, 491 50 ; London and North Western, 991,
1001; London and South Western, 92i ; Manchester,
Sheffield, and Lincolnshire, 414. 421 ; Midland
Stock, 814, 814 ; North British. 504 ; South
Eastern and Dover, 694; York, Newcastle, and
Berwick, 93, 94; York and North Midland, 791
; Grand Trunk of Canada, 124, 124 ; Great
Western of Canada. 214, 214; Do. New, 5-16, 7-16.
After official hours the bnainess done was at the fol-
lowing. prices—Caledonians, 831 ; Eastern Counties,
11 5 16, 11 7-16 ; East Lancashire, 96, 97; Great
Northern 952, 964 ; D. A Shares, 87, 80; Great
Western, 564; Lancashire and Yorkshire, 1004,
1004; London and North Western, 994, 1004 ;
Manchester, Sheffield, and Lincolnshire, 41.1. 421 ;
Milland Stock, 814, 82 ; North British, 494, 504 ;
York, Newcastle. and Berwick, 93, 91; York and
North Midland, 704, 80.
A meeting of the creditors of a cotton spinner,
residing in Stalyhridge, was'lately held in Man-
chester, an? as some Liverpool merchants were
the principal creditors for cotton sold, we are
tempted to give some prominence to the facts
elicited at the meeting, as they cannot fail to interest
our commercial readers. It appears that the
balance sheet exhibited assets about 1,2001, lia-
bilities to general creditors 2 8001.; but, in addition,
the landlord—who is a dealer in yarns, in Man
cheater—claimed for rent of mill, interest, commis
sion, &e., about 6,0001. more; and having a clause
in his lease granting, apparently, such power, he
immediately took possession of all that was in the
mill, including the cotton supplied by the Liver-
pool merchants; and thus, there is left not a
shilling for the general creditors.
We will tracia the matter further in relation
to the Liverpool trade in cotton. The spin.
ner, in this case, commenced to work the
mill with a capital not exceeding 5001., engaging
to sell all the produce of the mill through the
owner paying him a commission on such sales
and, for a length of time, a dealer's profit of a
farthing a pound also upon all Cotton purchased.
The spinner bought the Cotton in his own name
in Liverpool, and as long as it suited the dealer's
purpcse, the dealer remitted for it to the sellers
but at last he refused to do so, and pounced upon
everything the spinner possessed. Our merchants
will do well to inquire if there be many mills
worked upon such terms ; if so, to trust spinners
who work them must lead to certain loss. Bound
to pay an expensive rent, interest on value, of
machinery, commission on purchase of raw mate-
rials, again on sales of manufactured produce.
Even in profitable seasons, it is difficult to see how
a spinner could struggle long ; but at periods when
high cost of Cotton adds another serious obstacle,
his career must be a short one, and its end, as in
this case, utter ruin of his estate. It will, doubt
less, be said by some, that such a spinner ought
not to have had credit in the Liverpool Market, but
to have bought in the dealer's credit. It seems a
defective system which permits it.

We are indebted to the circular of Mr. Treden-
nick, of London, for the following information res-
pecting the Mining Market :
The Market generally for shares in British Mines has
been heavy—in fact, with few exceptions, prices have
gives way. Alfred Consols during the past month from
171, 18, Jell to 141, 15 ; South Frances 275, 285 to
220, 225 ; Basset 230, 235.t0 210, 215 ; Treweatha 2i to
11, with rumour; of a call instead of diva as formerly;
during the same period North Basset from 11, 12 rose to
19, and now stand at 14i, 15 ex div. of 10i; North
Roskear 105, 110 has risen to 160, 170, with few sellers ; a
discovery recently made of some importance in the western
part of the sett, with other improvements eastward, rear
North Crofty, caused an active demand for shares. The
latter mine has also advanced from 31 to 6, 61 ; Kelly
Bray. from 7s 6d to 11, Wheal E lward, 5, 51, reached
8, Bi, and now stand at 7i; Old Tolgus United which
stood formerly at 100 are now 50 to 55 ; at the last meeting
88 new shares were issued at £5O to raise additional capital,
thence the fall in market value; the prospects are good,
and the system now adopted will rapidly develops
the property. Great South Tolgus 161, awl likely to
advance; South Tolgus 115 to 120 ; these with Eut
Tolgus, 50 to 55, constitute the Tolgus group, and will
yield vast returns and profits; the latter, however, is not
traversed by the Buller cress-course. Cupid to 2 has
been largely dealt in,—the shares, 5,120 in number, will
materially advance should the rumoured discovery of a lode
turning out 2 tons of ore per fathom be confirmed. South
Gorland 4 to 5 is opening rut well ; the works are carried
out at an expense of from 601 to 701 per month, whilst the
deep edit, above 70 fathoms from surface is now worth 81
to 101 for fathom, and likely to improve; this property
is well situate, and has every analogy in its favour.
Dlleoath, Stray Park, and Camborne Vean are all in
demand. The 50 at Bailer and Basset United is about
being started east and west, upon a magnificent lode
fo:;r feet wide; a discovery here would send the price of
shares very high. Tresavean stands to the east, whilst
Buller, B isseti North Basset, West 13 Isset, and other im-
portatu.t 0400 adjoin to the north; ankle machinery