Northern Times.
Liverpool, Merseyside, England, 1857-06-25 00:00:00

Egypt, I am empowered to carry out the necessary arrange-
ments for a junction of the Mediterranean with the Red
Sea, by a canal navigable for the largest ships, and for
the opening by this means of a safe maratime route to
India, China, and Australia. The route which will thus
be opened to commerce is shorter by 5,000 miles, as re-
spects England, than that at present followed round the
Cape of Good Hope ; its track lies through seas of
all others most easy of navigation, and it skirts the
coasts of countries rich in natural products, though
at present, for all mercantile purposes, beyond the
reach of European enterprise. Engineers of the highest
repute in England and the chief countries of Europe, have
examined and approved the technical features of the
scheme. An important accessory work, consisting of a
branch canal, is now in actual progress, and the greater
part of the c ipital required has been subscribed among the
commercial classes of the sever el European nations, whose
goveremente have readily sanctioned a project of such
mantfest importance to the development of commerce and
civilization. My object in shortly coming amongst you
will be to ascertain the feelings which exist in the financial
and commercial classes of London with respect to this
great enterprise, and personally to furnish full information
as to its objects and details, well knowing that your coun-
trymen yield only to the most solid arguments, and after
the most mature and circumspect examination. In the
principal cities throughout Europe, where this scheme
his been brought forward to public notice, it has
elicited on the part of the chief municipal, commercial, and
scientific bodies, manifestations of the most signal interest
and sympathy. I am, therefore, naturally desirous to
complete this general expression of approval with the
crowning sanction of the greatest commercial and manu-
facturing nation in the world, who, above all others, is
called to participate in the incalculable advantages
inevitably resulting from a work, which by concentrating
her vast colonial pessessions in the east aed i❑ the south,
must increase and consolidate her prosperity. —I have the
honour to subscribe myself, gentlemen, your most
obedient and humble servant,

London, June, 1857.

FERDINAND DE LESS EPS.

M. de Lesseps entered into his promised state-
ment, recapitulating the various arguments in
favour of the scheme which he has advanced in
various quarters with so much earnestness and
ability. He was followed by Mr. Lange, the Eng-
lish agent of the company, and resolutions were
passed highly approving of the undertaking.
The annual meeting of the African Steam Ship
Company was held in London to-day. The Di-
rectors state in their report that they are unable to
declare a dividend, as during the greater portion
of the year only four out of their six vessels have
been employed, and the company have been exposed
for the last six months to competition with a line
of steamers running from London to the coast of
Africa. Having considerably reduced their working
expenses, they hope for better results next year.
The accounts show a loss of £7,075.
The Chairman, in moving the adoption of the
report, expressed regret that the other business
occupations of Mr. Schneider bad compelled him
to retire from the chairmanship and from the
board. He was sorry that the financial state of
the business, as resulting from the past
year's business, did not justify the payment
of a dividend ; he stated, however, that the
causes of that position were of longer standing
than the past year. The terms of the contract
with the Government were not sufficiently
remunerative ; snd when the war terminated and
the employment of their vessels in the contract
service ceased, their profits fell off. It might be
a question whether, if some better terms could not
be obtained, it would not be advisable to sell the
ships and wind-up the company. After a discus-
sion the report was adopted.

At the meeting of the South Australian CGrnpany
to-day, E. Divett, Esq., M.P.,. in the chair, a
gratifying report was presented. From the accounts
it appearei that the net income of the past year
was 26,6071. 7s. 6(1., from which the Directors now
declare a dividend of 7 per cent. per annum. The
report was adopted.

Cominerttai kutelltyncr

LIVERPOOL COTTON MARKET.-JUNE 24.

•
There has been a good demand for cotton to-day, and, with mode-
rate offerings, prices hive an upward tendency. The sales—including
1,000 Pernambucos 81d to 82d, 6) Bahias Bd, 150 Maranhams Sid to
9441, 1,0)0 Egyptians 93d to 12id, 3,000 Surats ad to 6id—are reported
12,000 bales, of which 3,000 are on speculation and for export.

LIVERPOOL (ScoTcH) PIG IRON MARKET.—JUNE 24,
Oar market for warrants closes with sellers at 755, cash. Business
reported, nil.
Shipments from Glasgow, last week
Do. Do., corresponding week, 1856
Do. Do., corresponding week, 1855

Aggregate shipments from Glasgow from Jan. 1, 1857, to date 206,610
Same period, 1856

Increase
Price this time last year, 73s 6d.

AGRICULTURAL PRODUCE MARKET.-JUNE 24.
Per stone, 20lbs. Per goll4s. s. d. s. d.
s. d. a. d. Potatoes, Seedlings 4 8 l 6 5 0
Hay, 01d...... 0 6 to 0 8 Ditto, Pink Eyes .. 5 0 to 1 0
Ditto, new 0 0 to 0 0 Ditto, Wihterocks. 0 0 W 0 0
Ditto, clover 0 5 to 0 7 Ditto, Balshaws .. 0 0 to 0 0
Green Clover 0 23 to 0 3 Ditto, Beldruma .. 0 0 to 0 0
Vetches 0 2 to 0 23 Ditto, cattle 0 0 to 0 0
Straw, wheat 0 3 to 0 31 Per ton.
Ditto, oat
Ditto, barley .... 0 0 to 0 t/Carrots
Oats, in straw .... 0 0 to 0 0, Mangle wurLe!
;Manure 4 0 t(, 6 0

MANCHESTER TRADE REPORT.-JUNE 24.
Prices continue very fi,m, but the !demand for goods is not very
brisk. Yarns are still taken freely.

LONDON PRODUCE MARKET.-JUNE 24.

FrmAa.—The demand for this article 13 without much activity,
although a decline of 6d to is has been conceded by holders, and no
sales deserving 01 notice have been rep. rted by private contract. The
market for refined is also quiet, and former prices have not been
maintained, 61s to 62s having been accepted for fine pieces,
COFFEE continues in request at Lull prices. Two floating cargoes
of Rio, together 5,800 bags, have been sold at 510 gd to 52s 6d,.
TEA.—The China tea sales are progressing, but the result will nct
bs known until later in the day. The Assam company's growth has
gone off with spirit at an important advance on previous rates.
CoTrom.—No sales are reported.
ARROwIIOOT.-3i half barrels Bermuda found buyers in public sale
at Is 6d to Is 7d, and a portion of 55 barrels and 560 tins St. Vincent
at 54d. to Bd.

Tenons.-150 brls Rio partly sold at 7d to 74d.
Rice.—The better qualities of Bengal are in request, and sales
have been made at 13s to 13s Cd. For low kinds there is not much
inquiry.
GINGER.-100 casss Cochin were offered, and chiefly sold, at 68s to
66s 6d. 250 ba,re.s Jamaica realised .e 4 to £7 12s.
PIMENTO.-210 bags found buyers at 42d.

English and Scotch 1 Irish.
750 ....

Foreign.
5300
220
5290