Northern Times.
Liverpool, Merseyside, England, 1857-11-10 00:00:00

Vim, Messrs B,.owne, Hunter, and Co's Circular]

The depression and gloom which have prevaded our
produce markets during the past fort night have perhaps
been unprece tented ; it iA difficult to estimate the extent
of the decline in nearly every article of import, so great
has been the desire on the part of holders to realize, that
the most serious sacrifices have been made and prices of
many staples have been nominal. Although the
intelligence of the fall of Delhi imparted a somewhat
more cheerful feeling, the continuous drain cf bullion
from the Bank of England, and the disastrous state of
monetary affairs with the United States, have produced a
want of confidence and distrust, which has not only
caused suspension of many houses, but must also lead to
further calam'tits, if cot speedily checked._ The recent
having failed to arrest the (DI ix of bullion, another
movement took place on the sth inst., when the rate was
further raised to 9 per cent-, the highest that it has yet
attained uuder the present Bank Act. It now remains to
be seen whether the mercantile community will be aroused
to demand the immediate interference of Government to
relax the Act of 1844, which would give instant relief, and
avert the most serious consequences that must follow
from a continuance of the present extreme tightness,
which no profits in business can withstand. As in our
commercial relations with foreign countries gold only is
required to adjust adverse balances, for the Government
and the Legislature to permit an Act to continue in
existence, whereby the cautious home trader is vier irnised
by reckless speculations of these abroad, is a cruelty that
ought not to be tolerated, and the filancial crisis of 1837.
1847, and 1857 prove to demonstration that our National
Banking system is on a very wrong foundation. The stock
of bullion, by the returns of the 4:h inst., is reduced to
.£8,497,780.

OILS : Cocoa nut oil being scarce maintains its value,
small sales of Cochin having been eff cted at £52 to £52 l 0 ;
seed oils having been pressed on the market, prices have
declined £5 per ton, Gmgelly having sold at £3B, and
rape at £4O per ton.
COFFEE : There has been little or no demand for coffee,
and to effect sales, a recline of 3s per cwt has taken
place.

Coin JUNK YARN : Owing to the unsettled state of
commercial matters in America, where large parcels of
coir goods are exported to, the demand for yarn has
fallen off, and l rices have declined es per cwt.
Owing to the very heavy impor.s of Manilla
hemp from America and the prospect of further supplies,
together with the pressure in the money market, a
decline of £4 per ton has taken place, and sales of
current were made at '2B; but, as there is now less
offering, holders are asking £3O per ton. Bombay, of
good quality, being scarce, has been sold at .£2.3; other
descriptions aro 20s to 33s per ton lower. Jute has
experienced a further decline, being £7 per ton from the
highest point, and even at this reduction it is almost
impossible to effect sales ; owing to the dull state of trade
in Dundee, and the stringency iu the money market ; the
stock here is 33 000 bales against 21,000 bales ; last year
in London, 32,970 bales ; atl)at to both ports, 23,345
bales. Tne sales reach about 2,000 bales, coas;sting of
No. 1, \V W, No. 1,2, 3,4, at £23 10s, .e2O, .418 lOs,
£l7, SS 3, £lB (W. E. I. & CU ). £l6, and some
American parcels at £l6 per ton. •
Rica ; The value of rice has suffered almost a greater
depreciation than any other article, so great has teen the
anxiety on the part of holders to effeet sates, that prices
have declined 23 6d to 3s per cwt. Ballam has been sold
at les to 8s 63, broken 8s 91 to 9i, good table lle 91, old
NecrauziO at 8s to 8s 61, new 9i to 93 61, per cwt. The
stock 38,750 tons against 32,345 tons, and the itinpoAs
be 770 tons against 60,1e0 tone last year.
SALTPETRE: The demand for saltpetre has been
extremely limited,:and the only transaction that has taken
place has been at a reductie of lOs per cwt., 5 per cent.
being now worth 50s per cwt. The stock 4,250 bags
against 1,000 bags, and imports 74,400 bags against 58,465
bags last year.
PEARL SAGO is only in limited request, without change
in value. Sago Flour has further given way Is per cwt.,
the last sales being effected at 16s 6d per cwt. The stock
is 1,157 tons against 625 tons last year.
SEEDS : All descriptions of seeds have been almost
unsaleable, with the exception of linseed, which has been
sold at 60s, and at this decline there are further buyers,
the quantity at sea from ludia, and what is expected from
Russia, being so very light.
SUGAR: Has been severely affected by the lightness in
the money market, and holders having pressed sales,
prices have further declined 6s to 8s per cwt. Should
the pressure here and in America continue it is difficult
to furesee the point it may recede to, as further arrivals
are expected from the United States. The stock here is
23,927 ions aeainst 15,832 tons, and imports 70,209 tons
against 65,708 tons last year.
SUFLL-LAC: There are no transactions to report in
Shell-lac, but prices in London have given way 10s. per
cwt. The stock is 300 chests against 130 last year.
MADDER Roots having been pressed on the market,
prices have declined from 2s to 3s per cwt., at which
there is now more disposition to purchase. Stock,
3,000 bales.

GAMBIER has only been in limited request, and some
forced sales have been made at 15i to 15s 3d per cwt.
The stock is 1,949 tons against 500 tons last year.
WOOD: Sapan Wood is in better demand at the late
decline. Manilla and Siam have realised £l3 to £l4.
Malabar +Bl3 per ton.
Wool,: The general dullness of trade has likewise had
its effects upon this article, and hardly any transactions
have taken place since our publio sales here last mon' h,
and the most gloomy accounts are received of the state of
trade:in manufacturing districts, the mills onIT working