Northern Times.
Liverpool, Merseyside, England, 1857-07-10 00:00:00

MONETARY AND COMMERCIAL.

LIVERPOOL, Thursday Evening.

The Cotton Market keeps buoyant, and prices of
all descriptions are extreme. The• sales to-day
were 15 oda hales, of which 5,000 were on Specula-
tion and for Export.
The Liverpool Share. Market was rather more
active to-day, and prices, are slightly higher. The
day's transactions consist of-Caledonian, 371 ;
Lancashire and Yorkshire 1001, 10t, 1011, 101;
Lancaster and Preston 3219 ; London and North
Western, 1031, 1031, 1031 1031,103, ;.Manchester,
Sheffield, nod' Lincolnshire, 441 ;: Midland,
831, 8.317; Dover, 221, 22/, 221 221, 22/;
Buffalo and Lake Huron, 41d; Grand Trunk
of Canada, 14*, 14 3-16, 14*, 14 6516; Great
Western ' of Canada, new I, • p;. Atlantic
Telegraph, 110 d. The following were the closing
prices :-Blackburn, 71, 8 ; Chester and Birken-
head, 701, 701 ; Caledonian, 37i1, 3'71; Chester and
Holyhead, 14. 181- ; Eastern Counties, 111, 1.11 ;
East Lancashire, 97. 971, ; Do, .£9 shares, 13-16 p ;
Great Northern, 241, 241; Great Western, 641,
651; Lancashire and Yorkshire Stook, 1001, 1011;
Do. £9 shares, 1, 1 1-16 p ; Liverpool, Crosby,
and Southport, 191. 194 ; London and North
Western Stock, 1031 1031; Manchester, Sheffield.
and Lincolnshire, 44/ 444 ; Midland Stock, 831,
83i; North British, 11, IIS ; North Staffordshire,
44, 41 d ; North Eastern-Berwick, 23, 1-16, 23 3-16 ;
York and North Midland, 351, 351 ; Leeds Capital
Stock, 221, 221 ; South Eastern and Dover, 22
5-16, 22* ; Scottish North Eastern,. 12i, 121 ;
Buffalo and Lake Huron, 41- 4 'd
-e Ditto New
Shares, 4, 31 d ; Dutch Rhenish, 31, 31 ; Great
Western of Canada, 218 211; Ditto New Shares,
p ; Great Luxembourg, 11,9-16, 11 7-16 d ;
GrAncl Trunk of Catiada, 14 5.14., 141
The weekly Court at the Bank of England has
not made any alteration in the rate of discount.
The announcement had scarcely any influence on
the Funds, which closed at about the rates of yes-
terday. At one period of the day, prices had
advanced about per cent , but afterwards declined:
Consols for money closed at 921 to 921; do. for the
Account ,6ill Aug). 921 to 925; and the same rate
was current after official hours. Exchequer Bills
closed at 3 dis to 2 par; and • the New Three per
Cents, at 921 to 921
There is no chaege of consequence to notice in
the London Railway Share Market. Old Stocks
were a shade firmer. Caledonians were in good
demand, but Dovers wore weak. The follow-
ing- - were the - closing prices :-Ambergate,
Nottingham, and . East Junction, 61, ;
Caledonian, 751, 751; Edinburgh. and Glasgow,
62, 64 ; Eastern . Counties, 111 111; East Lan-
cashire, 97, 98 ; Great Northern, 091 ;
Ditto A, 90. 91 • Great Western, 641,-654 ; Lan-
'caahire and Yorkshire, 104 1.011; Leeds Northern,
451, 451; London and North Western, 103*, 1031 ;
London and South Western,loll,lo2; Manchester,
Sheffield, and Lincolnshire. 441 449; Midland Stock,
83ti, 831; North British, 431, 441; South Eastern
and Doier,' 741, 74/; York. Newcastle and
Berwick, 92. 93 ; York and North Midland, 711. 72.;
After official heurs the following were the ruling
quotations :-Caledonian 75/, 751 ; Eastern Coun-
ties, 11, 11-16, 11, 13-16 ; East Lancashire, 971,
981 ; Great Northern, 99, 991 ; Ditto A, 90, 91 ;
Great Western. 64. -648 ; Lancashire and York-
shire, 1007,-; 1011; London and North Western,
1031; 7.031 ; Manchester, Sheffield, and Lincoln-
shire, 411. 4411; Midland Stock, 831 831; North
43, 441; South Eastern and Diver, 741,
74.1; York. Newcastle,. and Berwick, 9.2, 93 ; York
and North Midland 711, 72.
Respecting the state of the Mining Market, the
circular. of Mr. j.Tredennick, of London, contains
the following interesting information _

The tone of the Mining Share Market is decidedly more
healthy, and the demand for dividend and sound progress-
ive shares is not only strengthened but extended ; during
the past few days transactions have been marked with an
upward tendency, and a perfect freedom from speculative
adventure; shares have mostly been purchased for bona- I
fide holders, resident in the north of England—Manchester,
Liverpool, Leeds, Bradford, and other important towns
have absorbed stock recklessly forced upon the market by
needy and timid holders; thus capitalists have secured at
depressed prices property legitimately good and improving
in its character. Periodical depression is as necessary,
nay essential in the mining markets, as periods of undue
or overwrought excitement : had we no variation in current
value the actual worth of property would rarely be cor-
rectly realised, and less frequently supported at its true
standard: we, therefore, hail with satisfaction epochs in the
history of commercial enterprise which for a time paralyse
speculative progress, afford time for reflection, and weed
the markets of spurious and ephemeral schemes; such an
one we have experienced during the past few weeks, and
the beneficial results are apparent in every transaction
upon the Lapis. The public is aroused from the lethargy
in which it sunk, and capitalists deal alone in that which
is intrinsically valuable, schemes are abandoned, and com-
panies recognised which possess the elements essential
to success, practically managed, with capital subscribed
and expended in the development of lodes, and success
placed almost beyond question. The decline in value of
Tin and Copper is now generally admitted to be only of
tempOrary duration, and it is not improbable that the
advance will be equally rapid with the fall, whilst
discovery after discovery of hidden wealth is con-
tinually being made to encourage the miner in
his certain progress to wealth ; patience,. perse-
verancp, and moderate amount of capital wilt ensure
success in the chief mineral districts of West Cornwall,
and we would advise all associated with the mining• interests
of that country to think less of market operations than
smelly is the ease, and rely for remuneration upon divi-
dends from profits ; these alone lead to permanent wealth,
or enrich over a series of years ; a Bailer from £5 rose
to £1,250 per share; Tresavean £32 108 paid to, £2,700 ;
East Rose £5O paid to £1,750 ; South Caradon 10e
paid to £350; East Pool £5 to £525, with a host of
others equally startling in effect ; yet in every instance
market specul.tors were sacrificed, and. those alone who
held for dividends reaped the advantages in fall—the for-
mer realised upon small profits, whilst the latter secured
the whole—buyinF and selling shares in Cornish mines is
gambling just as time transactions in. Consols are univer-
sally acknowledged to be.
In addition to the Francis Henly and Roxburgh
Castle—the former of which has now been at sea.
100 days, with 98,900/. in gold, and the latter
days, with 122 5001.—the following vessels from
Melbourne must now be approaching our coast—
viz• : The James Baines, out 75 days; the Swift.
sure, out 70 days ; the steamer Indomitable, out
09 days; and the Sardinian, out 08 days. This is
assuming that they sailed at the dates previously
fixed.

The Candace has brortght 1,349 ounces of gold
worth about 5,000/ , from the West Coast of
Africa. • _

The ateamor Alhambra has taken °nit 20,3001. in
specie to the 1.3,ni nsnla.
The steamer Tamil-, whieh sailed from Smith-
amptott to-ply for the Brazils. has 33,1301; in
specie on fright, of which 22,2301, is gold, and the
rest silver
. We notiec this week the importation into Lon-
don of 600 qrs. of wheat from Antwerp, being the
first supply that has been releived from that port
since the removal of ate . prohibition to export

corn from Belgium.
Itsthe French corn markets a further decline
has taken place. The fall is esPecially conspicuous
at Marseilles.
We understand that a meeting of gentlemen con-
nected with the London Joint Stock Banks has
been held, with reference - to Mr. Lowe's new bill,
entitled " The-Joi,:it Stock Bank Bill of 1857." It
has been deeidet4, that a deputation shall wait upon
i Mr. L)we this week to state the objections enter-
tained by the Joint Stock Bank,; to certain.
porZions of the bill, and, above all, to what the
parties in question consider hasty legislation.
The mill, it will be remembered, renders it cool-
! pisory upon all Banks registered under the Acts
cap. 46., and the 7 and 8 Viet., cap. 113
(Peel's Act), to register, themselves by the lstJan..
185.8, under the Joint Stock Companies. of 4856
and 1.857, with however as express proviso that
the liability of the shareholders is to remain un-
limited, as heretofore:
• Mr.- George Round; the head of' the firm •of
Round and Co., -bankers, of 'Colchester, and
partner in the house of Messrs. Sparrow, Round,
L and -Cc., of Chelmsford and Maldon, died
.on
Tuesday.
. It is stated that the Directors of the Western
Bank of London intend to call a meeting of the
shareholders at an early date. with a view to refut-
ing the statements mad* ill the circular just