Northern Times.
Liverpool, Merseyside, England, 1859-01-05 00:00:00

woo'

The disastrous state of trade generally, from which we
emerged at the commencement of the past year, exercised
for a long period a baneful influence over our Wool
market ; and, although the opinion we ventured to express
in our last Annual Circular, that we had then seen the

worst effects of the panic, has been happily realised, still,
during the first six months of the year, there resulted an
extreme Caution on the' part of manufacturers, and an
indisposition to purchase, except for pressing wants.
About July however a very decided change for the better
was apparent ; confidence was. being restored ; and, as old
stocks of Goods and Yarns were almost exhausted, the
mills gradually and generally commenced working full
time, and this has continued to the close of the year.
The almost total absence of speculation for some months
past is worthy of note ; yet, notwithstanding this, in con-
sequence solely of the legitimate demands of trade, home-
grown and Colonial Wools, as well as the finer classes of
Foreign, -have very nearly attained the highest prices
reached previous to the panic, and, as there is
every prospect of a good demand, with moderate
stocks for some time to come, we consider the
present high range of prices as pretty firmly
established. We have great pleasure in calling
particular attention to the sound and healthy state of the
woollen districts, as evidenced .by the manner in which
they. bore the terrible pressure at the close of '57!
With the exception of a few very notable cases, for
which special reasons can be assigned, instances of
. disaster and bankruptcy were very rare. We can heartily
congratulate the._ trade on this position maintained by
manufacturers, and point to it as one great cause of our
present life and buoyancy. It is also worthy of remark
by the trade the Mint,' off in imports of foreign wools in
1858, compared with. 1857. We are hopeful in the
future ! T.he settlement of the dispute with China ; the
quelling of the rebellion in India, with the opening up
of that Vast- eountry to commerce ; the recovery from
prostration of craft on the Continent and in America;
the general employment of our own working classes,
with cheap food and an easy money market, are all
causes which must, we think, produce beneficial and
tasting effects. W. GREAME & CO.

MONETARY- AND COMMERCIAL.
LIVERPOOL, Tuesday Evening.
There has been a fair demand for Cotton to-day,
at about previous rates. To-day the sales were
7,000 bales, including 1,500 on speculation and for
export. The Manchester market was quiet to-
day, producers being generally under business.
If goods and yarns were obtainable, an extensive
business would result at advanced prices.
In the Liverpool Share Market there was not a
large business done to-day, and towards the close
prices were hardly supported.
The London Railway Share Market opened with
an improving tendency, but as the day wore on,
prices became depressed, and finished as follows: -
Ambergate, 64, ; Caledonian, 891; Do. Pref.,
163, 165 ; Eastern Counties, 631, 641 ; East Lan-
cashire, 96, 97 ; Edinburgh and Glasgow, 691,
701 ' • Great Northern, 1071, 108 ; Do. A, 72, 73 ;
Do. B, 133, 13:5 ; Great Western, 571, 58 ; Lan-
cashire and Yorkshire, 991 ; Brighton 111, 113 ;
London an& North Western, 971, 98 ; London and
South Western, 941, 95%; Manchester, Sheffield,
and Lincolnshire, 401 ; Midland, 1031, 1031 ;
North British, 614, 62 ; ditto Pref., 111, 113 ;
North Eastern-Berwick, 941, 95 Leeds, 491,
50 ; York, 781, 79 ; North Staffords, 41, 4 ;
Dovers, 751, 76 ; Turkish Sixes, 921, 921 ; ditto
Fours, 1051, 1061; Great Western of Canada, 161,
17 ; ditto New, 31, 31 ; Grand Trunk of Canada,
92,94.
In the Provision Markets the supplies were very
large to day, but the demand being good, full
prices were obtained for Coffee,- Tea, and Spices.
A very unfavourable movement occurred yester-
day afternoon in the Market for Public Securities;
and Foreign Stocks, as well as Railway Shares,
were also depreciated. The Funds still appear
heavy, but in the other departments rather more
firmness is now perceptible. The cause of the
depression in the first instance was the report of
the Emperor's views with regard to the Italian
question, but the heaviness subsequently in-
creased when it became known that the Rentes
had closed at a fall of nearly one per cent.
Numerous sales- were effected, as the speculators
were intimidated by such adverse influences
arising within so short a period of the liquidation
of the Account, which will have to be completed
on the 11th inst. Very little business has been
reported up to this hour, most of the operators
being anxious to learn the tendency of values on
the Paris Bourse before entering into fresh
engagements. It. is expected that the tone of.
the market here will be in a great measure
regulated this afternoon by the telegrams report-
ing the opening quotations of the French Funds,
and meanwhile there is an absence -of specu-
lative animation. Consols are about 964, 961
for the 11th instant, and 961, 96/ for
the .February Account. The New Threes and the
Reduced have receded to 964, 97. The govern-
ment broker has bought 25,0001 Reduced Annui-
ties for the Savings Banks. In the Foreign
Market, the principal feature is the depression of
Turkish Scrip, which is now quoted 21 to 11 dis-
count, for both issues. The old 6 per Cents
are 914 to 91%; and the -4 per Cents about
1051 to 1061. Venezuela Bonds are rather
flat, the advices' received by the Span-
ish American bondholders leading to the
inference that some time will elapse before the
debt is arranged. The Finance Minister, more-
over, in reviewing the probable income and
expenditure, anticipates a deficiency of $231,190.
Mexican Bonds are about 20 to 201, being without
much alteration. The decline experienced yester-
day afternoon in the Railway Share Market has
on'y partly recovered this morning, and prices
have shown but little buoyancy. Caedonians are
quoted 89 to 891 • Great Westerns, 57%, 58 ;
Lancashire and Yorkshire, 991, 984 ; North
Western, 981, 991 ; and Brighton, 1114,
1124. In the Foreign and Colonial Markets
prices are steady. Great Luxembourg,
are 74 to 71. East Indian, 1084 to 109. Joint
Stock Bank and Miscellaneous Shares are in mo-
derate request, at fully late quotations. About
35,0001. in gold was taken into the bank yester-
day. The 3 per cent Rentes on the Paris Bourse
yesterday closed at 72 to 75, being a decline of
nearly 1 per cent. A large amount of business
was transacted yesterday in the general Discount
Market, but upon the whole the demand was not
quite so active. The engagements due to-day,
the 4th of the month, have been provided for,
and although a few failures may occur,
the bills arriving at maturity are expected
to be met with the usual punctuality. It
is now thought that the Money Market will be re-
lieved, and that when the dividends become pay-
able additional ease will be promoted, but at the
same time it is not imagined that the current terms
of discount will experience any material diminu-
tion. The half-yearly meeting of the London
Dock Company took place yesterday, Mr: Cattley
in the. chair. The report for the half-year was
not encouraging, for it not only showed a falling
off of about 1,000 tons in the vessels entering the
docks, but
.upwards of £20,000 in the revenue,
arising chiefly from the items of wines, spirits, and
more particularly tobacco, in respect to which the
Victoria Dock Company has been carrying on a
resolute competion. The earnings of.the half year
were £249,550 5s Bd, which, with the former
balance, made up .E 383,733 5s 4d to the credit of
the company, from which the debits being taken,
£166,509 6s 9d, left a net balance of £217,223
18s. 7d from which the directors now recom-
mended a dividend of '2l. per cent. for the half
year. Some discussion took place in consequence
of the reduced dividend, but the report was
adopted. •