The Northern Daily Times.
Liverpool, Merseyside, England, 1857-02-09 00:00:00

MONETARY AND COMMERCIAL.

The recent advises from New York have bad the
effect of hardening the Cotton Market here, so that
in Saturday there wawa pretty good enquiry, and
prices were reported stiff. The sales reached
10,000 bales, including 5,000 on speculation and
for export. The rates paid were 7z1,-- to 8(1 for
Pernambuco, 71 to 71 for Bahia, 51 to 6 for
Surat, and 81 to 10d for Egyptian. At present
prices the trade is, with the exception of the
finer makings, unprofitable. Many spinners are
abandoning the lower for the finer numbers—
and though all the mills are at full work, there is
no doubt that the consumption is gradually
decreasing.
The I iverpool Share Market on Saturday was
steady, and a somewhat moderate extent of
business was transacted. The following sales
were reported : Blackburn, 8 13-16 8. Cale_
donian, 311 1. East Lancashire, 231. Lanca.
shire and Yorkshire, 961 to I. London and
North Western, 1061 Manchester, Sheffield, and
Lincoln, 341 1. Midland Stock, 821 g, South
Eastern, 221 Great Western of Canada, New,
2 11-16 p.
The market at its close was hardly so good, and
prices went a point in favour of the buyer. The
last rates were—Blackburn, 8H 81. Chester and
Birkenhead, 654 66. Caledonian, 311 311. Chet;
ter and Holyhead, 18 181 Eastern Courltie.
9 5-16 91. East Lancashire, 238 231 Gr&A
Northern, 231 231. Ditto A Shares, 91 10. Great
Western, 661 66g. Lancashire and Yorkshire Stock,
961 968. Liyerpool, Crosby, and Southport, 181 14.
London and North Western Stock, 106 1061.
Manchester, Sheffield, and Lincoln, 341 347-4.
Midland Stock, 821 8.28. North British; 10 101.
North Staffordshire, 5 41,1. South Eastern and
Dover, 221 221. Scottish North Eastern, 121 13.
North Eastern—Berwick, 212 211. York and
North Midland, 301 308. Leeds capital Stock, 171
181. Buffalo and Lake Huron, 11 lip. Dutch
Rhenish, 1d par. Great Western of Canada, 241
241. Ditto New Shares, 211 16 21p. Great Lux-
embourg, 111 100. Grand Trunk of Canada,
127 121

The Money Market is in a somewhat singular
position, and there has been no diminution in the
demand for discount accommodation. The market
has latterly been extremely tight. The demand
alluded to represses spelulation, especially as the
operators for the rise have not yet closed their ac-
counts. In Lombard street, Sic., the bill brokers
are negotiating paper within a fraction of the Bank
rate, but for second and third class descriptions
they are enforcing very onerous terms, in addition
to a commission. The Bank Directors have, as re-
gards their own customers, made an alteration
which will be attended with considerable benefit, and

the measure may eventully lead to an increase of
their private banking business. They have inti
mated that they will, in future, extend to their cus
tomers who have drawing accounts, the privilege of
havingtheir paper at a longer date than three months,
negotiated at such rates as the state of the Money
Market may permit; but it is understood that the
rule will apply solely to those who exclusively keep
their drawing accounts at the Bank. Placed in
this position, they will have an advantage over the
public, particularly whenever a pressure is exile.
rienced, and many consequently may he induced
to avail themselves of the alteration. These modi-
fications anal improvements show that the directors
are assiduously cultivating an extended connection.
Messrs. I ittledale and Co , in their circular issued
on Saturday, alluding to monetary matters, say :
The almost unanimons feeling entertained at the opening
of the year, that Money would gradually, though slowly,
become cheaper, has been disappointed and the market has
become slightly dearer, The continuous large remittances
of Bullion to the East, amounting to £1,768,000 by the last
three steamers, have been a steady drain on the Bank, as
well as the open market, for Gold to purchase the Silver.
This mode of remittance has been increased in amount by
LOU c,,st gaup. ...orupauy rietawg weir rate or orawnig ou
India Id per Rupee,—but the supply of Silver is more
abundant since the arrival of the last West India Mail, and
by the return of Gild from Ireland. the position of the
Bank is more satisfactory than might have been expected,
and the tone of public feeling decidedly less gloomy than a
few days since. The current rates of discount are 6 per
cent for paper, under 90 days,-6i and 6i for 4 to 6 months
bills, and no scarcity of Money.
On Saturday the Market for English Securities
exhibited signs of weakness, caused, no doubt, by
speculative dealings, and the continued sales of
stock in small parcels by the public. At present
there is no immediate prospect of any decided
movement. Tho arrival of gold would strengthen
prices for a time, but the anomalous state of the
Money Market and the efflux of gold do not justify
the expectation of any great improvement. Besides
these censiderations, the market is usually dull
during the early proceedings in Parliament. The
public, from a variety of causes, are not encouraged
to invest, and the quotations are frequently
influenced by the mature of the account.
Extensive engagements fora rise are now open,

and while priCes may be advanced by purchases
whenever any encouraging circumstance arises, so on
the other hand, are they liable to be depressed by the
closing of transactions, if political or financial
affairs present the slightest unfavourable change.

The Bank return was considered rather satis-
factor, but this did not preVent a little heaviness
in values. Consols for Transfer were 921 to 93,
and afterwards 92.1 1, while for the Account they
were 934- a and 931 id. After the recognised hours
they were about 93 The New Three per Cents.
left off at 93 S, the Reduced at 931 a, and Long
Annuities at 21 Bank Stock was 219 to 217 f

Exchequer Bills were par to 3s premium, and the

Bonds 984.
There was little business done in the London
Railway Share Market, on Saturday, but quotations
remained firm at previous rates. Edinburgh,
Perth, and Dundee rose I, Brighton I, and South
Western 1„ and all the other lines, including Great
Western, Lancashire and Yorkshire Midland, North

British, and North Eastern (Berwick) ruled steady.
Very few bargains took place in Colonial Shares,
but East Indian advanced I and also Grand Trunk
of Canada. In foreign undertakings there were
not more than half a dozen bargains. Dutch
Rhenish were marked 11i, Norwegian Trunk
Preference 91, and Paris and Lyons 54. The new
concerns were at about the following rates, namely,
Oude par to a prem., Central of ditto 140 to 3-16
prem., Punjab 3-16 to 5.16 prem. Ferdinand and
Nassau Shares were nominal. Subjoined are the

closing rates of the day :
Ambergate, Nottingham,
,Boston, and Eastern
junction
Bristol and Exeter

41 ...
93 .., 94

62i .. 63
Clledoniart ..
Chester and Holyhead
East Anglian
Eastern Counties .
.... ••• • • • •• • 4 • 2
East Lancashire
V
Edinburgh, Perth, and Dundee •• ••• 34 .. 35
Great Northern (A. Stock) 7B ... BO
Great Southern and Western (Ireland)
Great Western
67 .. 72
Lancaster and Carlisle. .

Lancashire and Yorkshire 96 .. 97
London, Brighton, and South Coast
London and North Western
Llndon and South Western....
Manchester, Sheffield, and Lincolnshire 34 34i ex d
Midland . .
Midland, Birmingham, and Derby 53 .. 55
Norfolk
North British 391 .. 401 . .
North Eastern—Berwick , • ,
811 . 851
North Staffordshire 4l 4S-' dis
Oxford, Worcester, and Wolverhampton.... 27 .. 28
Scottish Central .
.. .. 106 108
Scottish Midland . ,
South Eastern
South Wales B4 .85
Buckinghamshire
Hull and Selby
:PREFERENCE.

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