Northern Times.
Liverpool, Merseyside, England, 1857-12-09 00:00:00

THE NORTHERN TIMES. LIVERPOOL, WEDNESDAY, DECEMBER 9, 1857.

MONETARY AND COMMERCIAL.

LIVERPOOL, Tuesday Evening.
There is not much business doing in our Cotton
Market, the sales to-day being confined to 2,000
bales, and prices may be said to be the turn in
buyers favour.
The Liverpool Share Market has been inactive
and fiat all day, and closes et lower prices. The
day's transactions were-Blackburn, 9 1-16, 91;
Caledonian, 38*, 331; Great Western, 501 ;
Lancashire and Yorkshire, 91, 908; London and
North Western, 941. 931, 94/, 91, 944-; Midland,
858, 851 ; Dovers, 191, 19 3-16; Grand
Trunk of Canada, 9 11-16, 01; Dutch, Rhenish,
51d ; Great Western of Canada, 181. The
following were the closing prices : : -Blackburn,
94, 91 ; Chester and Birkenhead, 64 651 ; Cale_
donian, 381, 381; Chester and Holyhead, 16,161;
Eastern Counties, 101 11; East Lancashire, 88,
89 ; Do. 9/. Shares, par, 1p ; Great Northern, 23/,
24 ; Do , A, .10, 101 ; Great Western, 491, 501 ;
Lancashire and Yorkshire Stock, 901, 91; Do. 9/.
shares, par 1 p ; Liverpool, Crosby, and Southport,
181, 181 ; London and North Western Stock, 931,
94; Manchester, Sheffield, and Lincolnshire, 36/,
364 ; Midland Stock, 85, 851; North British, HI 12;
North Staffordshire, 41, 4 d; North Eastern -
Berwick, 231, 231 ; York and North Midland,
41, 411 ; Leeds Capital Stock, 251, 262 ; South
Eastern and Dover, 19 3-16, 191 ; Dutch Rhenish,
51, 54 d ; Great Western of Canada, 18 5.16,
18 7-16 ; Do. new shares. 2/ 21 d ; Great Luxem-
bourg, 6, 68 ; Grand Trunk of Canada, 9 9-16,
9 11-16
In the London Stock Exchange to-day, the names
of three more defaulters were announced. This had
a depressing influence on the market, and the de-
mand for Money continues active, without any
decrease in the rate of discount. Messrs. T. and
H. Littledale, in their circular for the East Indies,
thus alludes to the present state of the Money
Market :-
Money has remained unprecedentedly high upon the
best securities, and the numerous failures which have
occurred have affected credit so generally that the money
dealers have been at a loss to discriminate the securities
offered, which has increased the difficulty in discounting,
to an extent scarcely ever before experienced. At the
date of our last circular, 7th Nov., the minimum baiik
rate was nine per cent; on the 9th November it was
advanced to ten per cent ; this praying inadequate, they
had again, as in 1847, to make application to Government
for a suspension of the Bank Act. Unlike 1847, how-
ever, the fact of the authority having been granted was
not sufficient-the demand absorbing nearly £2,000,000
out of the authorised unlimited issue, and although this
has since been cancelled, the directors have not felt justified
in relaxing the rate.
Messrs. Brown, Hunter, and Co., remark :-
Since the suspension of the Bank Act there has been a
considerable influx of bullion into the coffers of the Bank
I of England, and the additional amount of notes which the
directors were authorised to issue, to protect that establish.
meat, has been nearly regained by the increase in its
banking balan-e, which, however, is not suffeiently
strengthened to admit yet of the issue department being
placed within the requirements of the Act. The improving
position of the bank, however, has, to some extent allayed
the anxiety which previously existed; yet the great evil
of our present monetary system-the exacting ofa ruinous
charge for discount facilities-still continues, Ind until
some reduction from the present rate of 10 pr cent, is
made, it is in vain to look for any relief. Tie opinion
that our monetary code requires immediate reision, it is
satisfactory to observe, is becoming more general, which,
it is to be hoped, will exercise an important influence on
the deliberations and report of the commttee whom
Government purpose to re-appoint for the instigation of
the subject, and its bearing upon the latecrisis. Our
Produce Markets still continue in a very demessed state,
and sales are only effected at low prices. Tae bullion in
the Bank of England has increased 872,37/ dazing the
past fortnight.
There was much firmness in the Funds this
morning, and in the forenoon prices were quoted
about 4 per cent higher than at four o'clock yes- I
terday. Consols for the Bth January wore first
marked 921 and 924, and are my quoted 921
" buyers." For Money the preseit price is 911
" buyers." The Three per Cent Reduced have
been dealt in at 90 to 901; the New Three per
Cents, at 94 to 901 ; Bank Stock, at 217 to 218 ;
India Stock, at 219 ; Exchequer Bills, at 3s dis to
Is prem, being firmer; and India Bonds at 283 to
26s dis. At the close of the Market Consols for
Money were quoted at 91/ to 911. and the Account
92# to 924 ; and after official hours they were quoted
at the same figure
The London Railway Share Market has been
dull and inactive during the day, closing at its
worst. The following were du closing quo.
tations :-Calodonians, 77, 78; Zaetern Coun-
ties, 541, 55 ; East Lancashire, 88, 90; Great
Northern, 94. 95 ; Do. A, 79, 80 ; Great Westerns,
494, 501; Great Western of Canada, 181, 181 ; Grand
Trunk of Canada, 94, 91; Goat Southern and
Western. 97, 99 ; Lancashire .nd Yorkshire, 901.
01 ; London and North Wesern, 934, 94; Lon-
don and South Western. 874, Leeds Northern,
504, 514; Manchester, Sheffied, and Lincolnshiie,
36, 364; Midland Stock 85, . 85ki Nbrth
British, 47, 48; South astern and Dover,
631, 641; York, New-ctstle. and Berwick,
921, 921; York and Noel Midlan 814, 82.-
After official hours the nominal prices were as
follows:-Caledonians, 77 ; Eastern Counties, 104,
11; East Lancashire, 88 90; Great Northern, 04
95 ; Do. A, 79, 81; Goat Westerns, 591, 594 ;
London and North Vestern, 934, 961; Man-
chester, Sheffield, aid Lincolnshire, 364 ;
Midland Stock, 851-E,,; North British, 47, 48;
Smith Eastern and Dyer, 631, 641 ; York, New-
castle, and Berwick, 92, 93; York and North
Midland, 814, 824.
The Circular of Masts. Littledale says :-
The past month has ben one of greit trial to all engaged
in commerce, from the icreased difficulty in effecting sales
of any kind of produc, and the almost impossibility of
obtaining monetary feilities adequate to requirements,
indeed, when sales hie been made, the promptitude with
which payments are net has become frequently matter of
convenience to the buer. anything but a certainty to the
seller. The crisis in ff.irs here has now, we hope, been
passed, and engagemnts must be so rapidly narrowing as
to give to those who save withstood the storm, the expec-
tation of a steady tale henceforth. In America they are
' easier in money. Te most severe pressure at present is
in Hamburg, whereall business is suspended; they have
probably felt the fte. force with even greater intensity than
in this country or imerica. So far, France has escaped,
and judging from to ffirther reduction in the rate made by
their Bank on Satrday last, may be in a stronger position
than previously suposed.
Referring to the state of the Wool Market,
Messrs Brown Hlmer, and Co.. say :-
Oar Wool Maret has been extremely quiet during the
past fortnight, ad scarcely any transactions of importance
have taken place; prices are in a great measure nominal.
The London ales of Colonial terminated on the 12th
instant. The ttal quantity brought forward amountel to
44,853 bales. The, sales' commenced under the most
discouraging ocumstances, and it was not to be expected
that prices cord be sustained, under the pressure of the
Money Marlet, and the unsatistactOry state of business
in the manufetnring districts. Although the attendance
of buyers we most numerous, the biddings were very
languid, and it became necessary to withdraw a large
quantity. At average decline of about 31 per poun i may
be quoted a Australian, although the fine qualities may
onty be cosiderel 2d. per lb lower, but inferior and ill
conditioner' fully 41. per lb. The fall in Cape Wools was
more serio.s, ranging from 23. to sd. per lb.- The sales of
East India amounting to 3,000 bales commerce there to-
day.

The fdlowing are the latest quotations of Foreign
Excharges :—Amsterdam short, 11. 18k, to 12 193;
Ditto .hree months, 12 21, to 12 3-1; Rotterdam
ditto, 12 81, to 12 33 ; Antwerp ditto, 25 80, to
25 85; Brussels ditto, 25 80, to 25 85 ; Hamburp,h
dittc, 13 13 to 13 14; Paris short, 25 30, to 25 45;
Dito three months, 25 95, to 26 5 ; Marseilles ditto,
26,t0 26 10; Frankfort ditto, 121! to 1213,; Vienna
ditto, 11 12, to 11 20 ; Trieste ditto, 11 14, to 11 22 ;
Pctersburg ditto, 34 to 331; Madrid ditto, 47
tc 471.

The Corn Markets which were held to-day show
teat there is a very limited demand at present for
;rain and grain produce, and prices of the leading
articles are much lower.

A Half-yearly Dividend, at the rate of 6 per cent.
per annum, is acivertised on the stock of the Bank
G f British North America.

The decrease shown in the Weekly Traffic
Return of the Great Western Railway of Canada,

BOYS' CLOTHING MADE WITH G tIFAT TASTE, atjLEWllkanct
COMPANY'S, Ra;iela,gh-stn3et.