The Northern Daily Times.
Liverpool, Merseyside, England, 1857-02-25 00:00:00

MONETARY AND COMMERCIAL.

LIVERPOOL, Tuesday Evening.
The 'Cotton Market was very dull to day, the
sales only reaching 4,ooo*bales, of which specula-
tors and exporters took 1,000 bales. Prices are not
quite so firm.
The Liverpool Share Market opened firmly this
morning, afterwards improved, but closed slightly
lower than the best quotations of the day. The
transactions consisted of-Blackburn, Si-; Caledo
nian, 344 1,4; Eastern Counties, 10 7-16 ; Great
Western, 654 ; Lancashire and Yorkshire, 100, 4,4,
4; London and North Western. 1081. .1, 9; Do.
Shares, 4s. d ; Do. 4 Shares, 4,d ; Manchester, Shef
field and Lincoln, 36-4 ; Midland, 81, ; North Bri-
tish, 11 ; North Eastern, 224 ; York Capital Stock,
324 ; Dovers, 234, 4,4; North Union A, 159 ;
Dutch Rhenish, 1,5-16 p : Grand Trunk of Canada,
124; Great Luxembourg Consolidated, 10 9 I6d
Great Western of Canada, 254; Bank of Liverpool,
24 ; Borough Bank, 104; Royal Insurance, 3p. The
business for the next Account WAS-Caledonian,
34 1-16 ; Eastern Counties, 104. 9-16, 4 ; London
and North Western, 1094; Midland, 844, h ; Dover's,
234, 5 16, 7-16 ; York and North Midland 321,
The closing prices were as follows :-Blackburn,
84, g 4 ; Chester and Birkenhead, 69,4, 70 ; Cale
donian, 33 15 16, 34 1-16; Chester and Holyhead,
18, 184 ; Eastern Counties, 10 7-16, 10 9-16 ; East
Lancashire, 244, 241 ; Great Northern, 23} 234;
ditto A shares, 10, 104; Great Western, 084, 694;
Lancashire and Yorkshire Stock, 1004, 004 ; Liver-
pool, Crosby, anti Southport, 19, 194 ; London and
North Western Stock, 1084 1094 ; ditto 8 shares,
4, 3-16 d ; Manchester, Sheffield, and Lincoln, 37,
374 ; Midland Stock 844, 844 ; North British,
11 1.16, 11 3.16 ; North Staffordshire, 5, 44 d ;
South Eastern, 23 5-16, 231 ; Scottish North
Eastern, 13, 134 ; North Eastern-Berwick, 224
224 ; York and North Midland, 321, 323 ; Leeds
capital Stock, 194, 194; Buffalo and Lake Huron,
14, 1,4 p ; Dutch Rhenish, 4, 5-16 p; Great Wes-
tern of Canada, 258, 254; ditto New Shares,
2 15-16, 3 p; Great Luxembourg, 104,104 d ; Grand
Trunk of Canada, 124, 12 9-16. The following
were the continuations paid :-Blackburn, 9d, 10d,
9d, 10d ; Caledonian. 3s, 2s 9d, 4,2 s 3i ;
Eastern Counties, Is, is 2d, la lid, .1-16 ; East
Lancashire, 2s, 4; Great Western, 4; Lancashire
and Yorkshire Stock, 1, 7-16, 4, 7-16 ; London and
North Western Stock, 4, 9-16. ; ditto 4-Shares,
3d; Manchester, Sheffield, and Lincoln, 2s, 2s 344,
3s, 2s 9,1, i; Midland Stock, 4, 5-16, 1 ; North
British, 1-16 ; south "E
-tern, 2s 3d, 4,2 s 3d. is 91,
; North -:astern-Berwick. 2s. is 6d, is 04, 2s,
2s 31 ; Date,h Rhenish, 11d, is Id, 1 s ; Great
Western of Canada, 42s 34, 4,2 s 31 ; Ditto New
Shares, 1.C,1, 11d, 10d, is ; Great Luxembourg, 7d,
Bd, 9d, 81 ; Grand Trunk of Canada, is 6d.
The Manchester Market was firm to day, and the
transactions were at the following quotations-
Dovers, 23 1-16, 234: Leeds, 100, 1004 ; Midlands,
844 ; and Blackhurns, 8 11-16.
The Money Market was decidedly easier to
day, and although the bill brokers are still
endeavouring to exact six per cent. for first class
paper, it is admitted that the applications are rather
less urgent than of late. For several days past it
has been found that the pressure has not been so.
.continuous, periods of relief having occasionally
been felt when first class commercial houses have-
been enabled to procure accommodation at 54 or
51 per cent. The mere fact of these occasional
pauses in the general inquiry is indicative of a
somewhat improved state of things, but , those
acquainted with the subject look, with some
anxiety to the career of the Russian railway
project, which threatens all the principal
money markets of Europe, it having been
determined to raise the capital in Russia,
France, Prussia, Holland, and England, as the
concessionaires have establishments in those coun-
tries. It is believed, however, that these capitalists
will take a large stake in the concern themselves,
and that as the subscriptions will be invited in the
several markets named, the effect of launching the
first series of shares will not be so prejudicial as
the vastness of the enterprise has induced most
persons to suppose. The prospects of the Money
Market, independently of this scheme, the influence
of which cannot be calculated, are deemed favour-
able, and the arrival of gold yesterday by the
Ocean Chief, viz., £292,000, and the knowledge that
the Blackwall, with about £320,000, is also near at
hand, strengthens the expectation that the strin
gency now experienced will relax rather than in-
crease

The Funds to-day were better, and an advance
of per cent. must be noticed, owing, no doubt, to
the result of the debate in the House of Commons
last night. Consols opened at 931 for money, and
93 for the account, advanced to 934 for money,
.nd 91 for the account, and closed at 938 to 94 for
both money and account. Exchequer Bills were
quoted at par to 3 p.m., and New Three per Cents
at 941, to 94Z.

The London Railway Share Market to day
showed a further improvement, and closed very
firm, at the top quotations of the day. The follow-
ing were the closing prices:--..Aberdeen, 41. ;
Caledonian, 671, 68 ; Chester and Holyhead, 36, 37 ;
Eastern Counties, 10Z-, 10k; East Lancashire, 98, 99;
Great Northern, 934, 94; Great Northern A., 81, 83 ;
Great Western, 69, 691; Lancashire and Yorkshire;
104 100, ; London and North Western, l 0817 109 ,
Leeds Northern, 19k, 191; Manchester, Sheffield,
and Lincolnshire, 37, 37k; Midland Stock, 84 844;
North British, 41, 40 ; Bauth Eastern and wer,
77k, 78 ; York, Newcastle and Berwia, Bp, 90 ;
York and North Midland, 614, 65.
The business done after official hours was at
the following quotations :—Caledonian, 671, 68;
Eastern Counties, 10i, 101 ; East Lancashire,
98, 99; Great Northern, 954, 941; Great Western,
681, 69 ; Lancashire and 7orkphire, 100 k, 1001 ;
London and North Western 1081, 109; Moriches
ter, Sheffield, and Lineornsiire, 37, 374; Midland
Stock, 811, 841; North:British, 44 45 ; South
Eastern and Dever, "i'7!-;, 78 ; York, Newcastle,
and Berwick, 89, 89i ; York and North Midland,
644,65.

The Grain Trade ;n all quarters of the kingdom
remains dull, rind altogether without inter, st, as
there is no inducement to either merchant or
miller to enter into Wheat purchases of any
weight, in the unsatisfactory condition which still
universally prevails ; little change of prices is
apparent at the close of the week, but the tendency
continues rather downwards for the inferior
qualities, 'which form, as before, the bulk of the
Wheat supply. The only symptoms of life exhi.
bited at present consist in the liberal exports of
Wheat and Maize .to the Continent of Europe ;
these absorb the few cargoes arriving from the
eastward, and make some impression upon the
granaried stocks, but are entirely without the
effect of improving our internal trade or communi-
cating the slightest elasticity to prices. Business
here, since Friday, has been very slow, without
any quotable change of values. The American
markets are somewhat lower, but prices still show
considerable loss upon British currencies ; ship-
meats, will, however, pres,ently increase from the
southern ports, but the chief mart of export, New
York, must remain for some weeks incapable of
furnishing supplies, Our arrivals this week of
home and foreign produce, in the aggregate, are
of moderate extent ; the export of Indian Corn
sums up to 14 393 quarters. To day, however, the
general tone of the markets held, was rather
firm, but no cilange can be noticed in the price
of any article, excepting fn* inferior Wheat, which
was rather lesser in our local market.
In the Produce Markets a fair demand exists for
the leading articles such as Sugar and Coffee. Tea,
however, still remains dull.

The Manchester Market remains very dull. At
to day's market fine Yarns commanded fr,ll rates,
coarse Yarns were rather dull of sale, but on the
whole there was no change of the least importance
on the general tone of trade.
From a list publishe4 in the
s Bankrupts6fl
se
iaxl
teyn
-davr
e,
it appears that during the year
dividends have been declared in bankrupt cases in
Ireland. These vary from lSd. to 15s. in the pound.
The traffic returns of the Grest Western Railway
of Canada for the week ending Jan. 31, amounted
to 8,7201, being 3841. more than in the correspond-
ing week of 1856, The aggregate gross receipts
from the commencement to the termination of the

half year are reported at 322,6271. 13s. 3d. sterling.
For the corresponding half year in 1856 they were
270,772/. 10s. ld. The balance, therefore, in favour
of 1857 is 51,855/. 3s. 2d.

The traf t.! returns of the Grand Trunk Railway
of Cinada for the endin...; Jan 21, amounted
to 5.(W1 1, hein,q, 2 01W!. more than in the correspond-
ing week last yenr _

Our advices from 'lreland state that the large
sums paid for spirits in bond last week, in antici.
pation of a rise in duty, have naturally caused on
the part of those firms in the trade who are involved
in the panic, a desire that the duty should be
increased. This desire is raised to an anxiety by
the fact that the Scotch distillers are trying to get
rid of their stocks at a reduction from last week's
prices,. Whether the Chancellor of the Exchequer
may consent to " take back" his Budget or not
remains to he seen ; but even in the event that he
does not revise the items of taxation, the equalisa
ton of the Irish spirit duties with those of England
and Scotland, is a questionable proceeding. High
duties in this country have always stimulated illicit
distillation, and when grain cannot be had
the illiCit distillers are not slow to avail themselves
of other materials. At present there is an extensive
manufacture of contraband spirits from molasses,
and when the duty on Irish spirits shall have been
increased from 7s Bid to 10s, the makers of
Mountain Dew can better afford to increase
production, while the consumption of the legalised
liquid must sensibly fall off. If, however, the
question be either to retain the high duty on tea
and sugar, or provide another source of revenue,
there can be no hesitation in saying that the
luxuries, and not the necessaries of life, should
bear the necessary impost.
Reports that a new. Austrian loan is impending
are circulated on the Continent. What foundation
there is for them remains to be seen.

The St. Petersburg advices inform us that Baron
Stieglitz, as the (thief home promoter of the Rus
sian railway scheme, has issued a public notifica
tion, in which he intimates that a certain portion
of the capital has been reserved for allotment in
Russia, and that due notice will be given when the
undertaking is to be formally launched. This
advertisement is regarded as an indirect invitation
to subscribers to come forward

It is reported in Paris, that within a. period of
about eight days, the coin and bullion in the
Bank of France have increased by about
17,000,000 f., or 680,0001. The fact that the Bank
is now enabled to retain the gold purchased by it
abroad, forms undoubtedly a highly favourable fea-
ture. Coupled with a diminution in the demand fen*
money, it strengthens the hope that the regulation
excluding from discount bills having more than 75
days to run will soon be rescinded. Private bankers
are stated to be discounting in Paris at 51 to 5.1
per cent being 11- to per cent below the minimum
rate of the Bank of Fiance. As the tendency of
most of the other Continental money markets is
also in the direction of ease, a sensible stimulus
has been given during the last few days to specula
tion on the Paris Bourse The letters mention that,
in addition to a considerable business in the Rentes
and other speculative securities, many descriptions
which have been unsaleable for months now find a
market The field for speculation has been lately
extended by the introduction on the Bourse of a
number of stocks not hitherto quoted there; includ-
ing those of the Lombardo Venetian, Carmeaux and
Toulouse, Francis• Joseph and Saragossa Railway.
Companies, and of the Marseilles Docks. Since it
has transpired that the new tax about to he imposed
on railways will not exceed 2 or 2,1 per cent. of the
revenue of the companies, the market for these
securities has evinced buoyancy.
There was a rumour on 'Change to-day that an
extensive Greek firm in Liverpool have failed.
Their liabilities are set down at 60,0001.

FOREIGN EXCHANGES.
Amsterdam, Short
Ditto three months . ll 181 to 11 181
Rotterdam ditto
Antwerp ditto 25 4271 to 25 47
Brussels ditto - to 25 471,
Himburg ditto ... ... 13 71- to 13 8
Paris Short
Ditto three months
Marseilles ditto
Frankfurt ditto
Vienna ditto .. . .... 10 27 to 10 30
Trieste, ditto 10 28 to 10 32
Petersburg ditto .... .... 374 to 37k
Madrid : ditto ..... ... 491 to 491

Lord Lyons has officially announced his departure
from the Turkish waters,
The Times states that the manner in which the America•i
Senate has dealt with this treaty is tantamount to a rejec-
tion. The New York press acknowledges that the treaty
is a7good one, and that England has done her best to make
an honourable settlement, but It cannot be helped. The
Washington people wish to keep the question open to
make political capital. The incoming Government is
jealous of the outgoing, and cannot let it have the credit
of a pacific settlement, and so perhaps several months of
wrangling with England will inaugurate the Presidency of
Mr. Buchanan.

NAPIER'S DIPLOmATIC INTERVIEW WITH THE KING OF
SWEDEN —The interview commenced by his Majesty
paying Sir Charles Napier many compliments on his
arrival, to which the Admiral replied that he was proud
of commanding a British fleet in one of his Majesty's har-
bours ; adding, that he had directions to be of use to his
Majesty, should he wish to avail himself of his services.
The King, perhaps thinking Sir Charles a somewhat off hand
diplomatist, took no notice of the offer ; and, after saving
that the command with which Sir Charles was entrusted
was a very important one, he entered into conversation as
to the change which must be effected in the art of naval
warfare by the introduction of steam and shells. Passing
from this his Majesty broached the question of the war,
especially as regarded Turkey, giving it as his opinion that
Turkey was only a secondary object, and that the war bore
a European rather than a Turkish aspect. It was clearly
the opinion of the King of Sweden that it ought to be
rather an European than a Turkish question ; but he must
since have been miserably deceived by the peace which
has converted it into a purely Turkish question altogether
unsettled, and Turkey little better off than before. That
peace is the greatest victory Russia ever achieved. It has
trained her armies at no cost beyond their maintenance,
given her fortresses the reputation of being impregnable,
and bestowed upon her an everlasting prestige of the
highest character, in place of the questionable one which
existed before the war. The allies have gained little
beytend the cost of the war, and England in particular
absolutely nothing. To the remark of the King on the
European aspect of the war, Sir Charles Ilapier replied,
that as regarded the Turkish question it was impossible to
foresee what would happen ; that if Russia adhered to her
first resolution of acting on the defe9sive, bqt contented
herself with the occupation of the PrincipalltieS, it might
be diffiqult to drive her out. On the other hand, if she
crossed the Danube, Austria would probably act, and if
sbe crossed the Balkan, 'would.certainly do so. and not
only impede her progress, but stop it altogether; and in
that case the Allied Powers would assuredly not be satis-
fied with the present status of Europe. Sir Charles said
this, not knowing that :the hope of the Allies as to the
co-operation of Sweden rested mainly on the attitude
assumed by Austria ; but the King, evidently considering
these remarks to be thrown out as a feeler, made no reply.
Sir Charles then said, thit iri case of the war becoming
an European question, it appeared to him that the position
of Sweden was such that she could take a great part in the
final settlement thereof; that Russia was within four
hours' steam of Stockholm, and that Sweden must always
be in danger so long as Russia possessed the Aland Isles.
He represented that England and France had a large fleet
in the Baltic, but few troops, and those marines ' • whilst,
with an enemy's fleet in front, it would not be advisable
to land a force sufficient to take the Aland Isles. He
represented, moreover, that Dresden had a,good array and
a good fleet of gnnboats, and that • if she came forward at
once, it would hasten the settlement of the question, and
greatly tend to improve her own condition. The King said
this was all very well, but neither he nor his people re-
quired conquest, even of the Aland Isles, whilst the
neutrality pt Sweden was secured. His position was
delicate, and he would remain as he was. It was true that
Russia was rather a formidable neighbour, but he did not
know how an alliance with the other powers would mend
his position. His Majesty was not to be shaken. He was
anxious to imnress upon Sir Charles Napier that he was
most friendly to Great Britain, but his osition was pecu-
liar, nnd he must not vacillate, He said he had spoken
frankly to Sir Charles, as one gentleman to another. Beyond
this, his Majesty left the admiral to draw his own infer-
ences. After about an hour's conversation, his Majesty
introduced the admiral to the Queen's apartments. The
Queen received him very graciously, afterwards present-
ing him to the Queen 'Dowager, and to her own sons and
daughters, as well as to the Crown Princess. After this
ceremony, the whole Royal Family, together with the
Admiral and the Hon. Mr. Grey, the British Charge
d'Affaires at the Court of Sweden, sat down to a sump-
tuous breakfast, which passed away with all the ease
and familiarity observed amongst private famiies. After
breakfast the conversation was resumed pretty nearly in
the same strain as before ; and same time having been
thus passed, the Admiral took his leave, returing to the
fleet in the King's yacht, which had been placed at his
disposal.

Cominerttat Intelligence.

LIVERPOOL COTTON STARKET.-FEB. 24

There has been a quiet market for cotton to-day; the
transactions have been of a limited nature, and prices are
ahogt thn same as yesterday. The sales—including 30
Bahias 8,1, 1.4:00 Surat s sid to o,l—are reported 4,000 bales,
of wilich 1,000 are fur export.