The Northern Daily Times.
Liverpool, Merseyside, England, 1857-02-02 00:00:00

MONETARY AND COMMERCIAL.

The Cotton Market has been steady since our
last notice. On Saturday there was a moderate
demaed, and sales to the extent of 7,000 bales were
reported. Prices generally were steady, and
Egyptian rather a point in favour of the seller.
The Liverpool Share Market was somewhat flat
at its opening on Saturday last, but afterwards it
became steady, and closed with considerable firm-
ness. The transactions of the day comprised the
following :—Caledonian, 301, -a, 4, a. Eastern
Counties, 9 5-16. Great Western, 651 Lancashire
and. Yorkshire 961, a ; London and North Western,
1-06-1 ; Manchester, Sheffield, and Lincoln, 336, Q.
Renaud Stock, 824; South Eastern and Dover,
22*, i• Blackburn 6 Per Cent Pref, 21, 1 Dutch
Rhenish, 1-16 d par. The market closed with
a steady feeling, at the subjoined quotations :
--Blackburn, 88.84; Chester and Birkenhead,
T 6,5 65i• Caledonian, 301 301. Chester and
el-01yh.ead, 18/ 18k. Eastern Counties, 94 9 5-16.
East Lancashire, 231 23e. Great Northern, 23
23*- Ditto A Shares, 91 94. Great Western, 651
66. Lancashire and Yorkshire Stock, 964
9fil. -
Liverpool, Crosby. and Southport, 181 181. London
and North Western Stock, 1069 1062. Man-
chester, Sheffield, and Lincoln. 338 331-. Midland
Stock, 821 821. North British, 92 10. North
eStaffordshire, 5 44d. South Eastern and Dover,
.f.,2 3 16 224. Scottish North Eastern, 129 13. North
Eastern
—idßlaenildv,ick) 20 15-16 21 1-16. York and
294 30. Leeds capital Stock, 17-4- 18.
atralo and Lake Huroo, 1 7-16 lap. Dutch
Rhenish, 1-16 d, par. Great Western of Canada,
13-16 24 15-16. Ditto New Shares, 24 213 16p.
Canada,
Luxembourg, 114 114 d. Grand Trunk of
‘'anada, 121 124
The demand for money is still very active, but
"° immediate improvement is expected. The en.
Ve
irY for money on the Stock Exchange has also
been extremely dull, owing to the liquidation of
the Share accounts, and it is stated that the, en-
gagements in the Foreign Market have not in al'
eases been well met. About 40,0001. was taken
f
TM the Bank of England on Friday, for the pur-
chase of silver on the Continent, but this has not
excited much attention, as about 2,923:815 dollars,
ar about 584,7631., has arrived by the West India
marl steamer, Atrato, from Mexico. This is a
ery seasonable supply, as if the vessels due from
Australia come in at once, a very favourable im-
pression would be produced. We may further
Observe that the preparations for the ferurth of the
n'°nth, together with the settlement of the foreign
and
railway share accounts, have occasioned con-
siderable demand for accommodation, and both
le bankers and discount brokers have been
`'making considerable advances at full rates for the
use of their customers. The activity created by
thin state of affairs has consequently increased the
_value of money, and the best paper cannot be
:iT,gociated below the Bank minimum of 6 per cent.
-1e terms for short loans of Consols have again
11been maintained at 6 and 7 per cent, and the
Jobbers in the other' markets were compelled to
pay much higher quotations for any assi,stance
thry required. With the payments falling due in
the first part of the month, and the subsequent
nistr•
langement of the account in the English depart-
ent, there will, probably, once more be an aug-
Mented pressure.
an increased
the Consol Market on Saturday there was
increased degree of animation caused by a
strong inclination on the part of the speculators
'tne the " House " to operate for a fall.
Since the commencement of the month the de-
tehlifie, though slow, has been continuous, and as
1 Prospects of the Money Market do not improve
aePidlY as
was expected, but on the contrary seem
more uncertain than before the Bears are encou.
aseerd
soon
atos
tdheal largely
notwithst for the March account. As
arrival fan
e
the e o a large
market opened rates were commenced,
ding the favourable Bank return, the
sum in silver from Mexico, and
xpected receipts from Australia. There was
evidently,oe_ therefore, a disinclination to attach im-
t:onanee to these encouraging influences, the
demand for money and the drain of gold being
Considered sufficient, with other contingences, to
Warrant a lower range of prices. When the precise
amount of the remittance from Mexico became
""nru, however, the downward movement was
arrested, although, at the close of the market, the
quotations were still very heavy. Consols were
successively as follows—for Money 924 93, 921 4
and 921 93 ; for the sth February 924 93, 924 4, 934
?3; for March the charge for " continuation" being
per. cent. ; the latest quotation was 931 1. Ex
.?„heouer Bills were rather firmer, viz par, and the
'lsoncla realised 981. The New Threes were 93f 1,
ntici the reduced 92f 932. Bank Stock was 216,
1411 East India ditto 2181 to 219.
On Saturday the transactions in the London
e
r,ate Market, were, as has been the case for some
4.13 s past, extremely limited, but, notwithstanding
I;7e heaviness of the funds, they were mostly at
eadY quotations. Caledonian advanced 4, corn-
ared with yesterday's range, and North British 1;
'gut Great Northern declined 1, Lancashire and
erkehire toa t, and Midland 4. Most of the other
the day
remained as before. Subjoined are sales of
" 'lay ; Bristol end Exeter 93, Caledonian 604
reaest Lancashire, 944.. Great Northern, 931, 4—,
,Z.eat Western Guar. Stock, 651, 4, 2. Lance-
Nivel e and Yorkshire, 961. London and North
t•eStern 1061, 51, Q. Midland, 821, 2, 4 ; do ,
Ntreee
"gham and Derby. 54. North British, 394, 40.
xrorth Eastern, Berwick, 831 ; do. Leeds, 174.
"°,llll Staffordshire, 124,1. South Eastern, 741
the j'ae importations of the precious metals during
reek have been large, viz., about X 783,169,
ee''Blsting of 510001. from the United States by
Niagara, 584,763/. from the West Indies and
10:11e0 by the Atrato, 7,4061 from Oporto, and
011 t 140,000/. in silver from the Continent.
I,e exports, as far as they are publicly known,
eVe been extremely small, and have consisted
leelefier of shipments to the Continent, througli the
itceildala Custom Nouse, amounting to about 2,6001,
be-e Pendent of whicdi large sums have been taken
',Private hands to France.
wiPtde in the manufacturing districts continues
to(not...
n .1, much change. " Most articles of general
ta(;s°lnntion," say Du Fay and Co. in their
etni •
.Y Circular just issued,
tett vie of late assumed a rising tendency, with tbe.excep-
pTie°l wheat and other cereals, which are declining in
13f the notwithstanding a changeable and unpropitious state
sq e weather. The high or famine prices we paid for wheat
me,tiele back has been the cause of attracting supplies to
tbe-Cint we had no conception of. It follows from this
the consumers of cotton and those generally
ilLe-eated in this trade continue for some time longer to pay
peleieresent high price for the raw material, a similar
Porte t will be attained. The stock on hand of cotton in the
of America was, according t- the accounts per the
atet,re, 760,000 bales, or in value above £7,000,000,
seek ne consumers on this side maintain that such a
more cannot long be held in a country wh,-re
oiled
generally much higher than here. It is
tir;;„`eu that the cotton will be consigned to
qpinPelan en American account attracted by present prices.
Nye! vary of course greatly on this subject, and these
the e,acquainted with the present state of money matters in
eeveu cited States, and at New Orleans in particular, be-
utei'Lthat the planters are in a position to hold their cotton
thee u*na fide purchasers or speculators rid them of it at
then- Tve terms. Meantime the cotton trade must submit to
bere-areueal of high prices, in order to be put in a safer position
try arteeroehich will be the case when the stocks in this cone
see,i4iacrewaed somewhat in proportion to our present cr-
ty'e lan• Violent fluctuations in the value of cotton ouch
Art
e_anave seen in former periods are not likely to occur.
toe! ti parallel cannot be drawn b:tween times present
ea Past, because circumstances, as we endeavoured to
ee,e 'I en a former cccasion, have changed. Jost as we cannot
, • ct dee,
e'tek to the unt to recede 24 per cent, so we. must not look
- ezir • e lowest point cotton had at one time reached, as
It tee-nll for our operations in yarns and cotton goods.
e*crie-Yeake a lOn, time before the different markets of the
'',iffieett's" adjusted themselves to this position of things ;
u'e V.and even loss may ensue to some in the meantime,
*eteistil'!gher range of prices will in all probability be
say ni.eti. Not cotton only but all other materials,
71114; °° •
wages, in fact everything has risen in
14Infe' value ; cotton being still the cheapest textile
, cannot be replaced by other articles. We hear
irelectißa'nive that the present high prices of cotton are
teeivatte vast preparations in America for increasing io
slaves ian• One circumstance of importance seems to be that
10 eat. role the corn lands have. ecently been removed to
'Proof `?en Plantations and replaced by free labour. Another
to 'l4 needed
ullU°111t►I) a. 1' of' that whatever pays best, is most ate-tol!d
the e_ withstanding the increase which has taken place in
Spindles in Great Britain of about one