Northern Times.
Liverpool, Merseyside, England, 1859-05-04 00:00:00

THE NORTHERN TIMES "WEDNESDAI, MAY 4, 1859

MONETARY AND COMMERCIAL.

LIVERPOOL, Tuesday Even'ing.

There has been no improvement in the Liverpool
Cotton Market, and the amount of business done to-
day has been exceedingly small, the sales not exceed-
ing 1,500 bales, all of which has been taken by the
trade. Prices are nominally the same as yesterday,
but in reality is scarcely so good.

The Liverpool Share Market has exhibited rather
more steadiness to-day, and prices have shown an
upward movement, under the influence of a stronger
disposition to operate. The transactions reported
were as follows: - Caledonian, 724; Eastern Coun-
ties, 10t, 101: Great Western, 50 ; Lancashire and
851, 86, 85k, 86; London. and North

arkshi

Western, 86, 858, 861, 861, 85:1, 86; Ditto one-
eighth shares 24, 2 1-16 d ; Manchester, Sheffield,
and Lincolnshire, 331 ' • Midland, 94, 941, 941, 931 c,
941, 941, 94 ; South Eastern, 181, 18 3-16 ; Dutch
Rhenish, 71d ; Grand Trunk of Canada' 7 'Ditto,
7 per Cent, 1872, 56-; Great Western of Canada, 14.
There was a good deal of business done after
official hours, and sales were made in Eastern
Counties at 101; Lancashire and Yorkshire, at
851, 852 g ; London and North Western, at 864;
Midland, at 94 ; York and North Midland, 691 ;
and South Eastern and Dovers, at 184, 18 3-16.
The final closing prices were :-Blackburn, 111,
11?-4; Chester and Birkenhead, 60, 61 ; Cale-
donian, 721 731; Eastern Counties, 10Z, 101; East
Lancashire, 'B5, 86 ; . Great Northern, 96, 93 ;
Do. A., 81, 82;;;TGreat Western, 50, 501; Lancashire
and Yorkshire Stock, 851, 851 ; London and North
Western Stock, 85, 86 ; Do. one-eighth shares, 21,
2d ; Manchester, Sheffield, and Lincoln, 331,
34; Midland Stock, 931, 94 ; North. British, 51,
.52; North Staffordshire, 44, 41'7 d; North Eastern
-Berwick, 821, 83+ ; York and North Midland, 69
70 •, Leeds Capital Stock, 41, 42; South Eastern
and Dover, 18+, 18 3-16 ; Dutch Rhenish, 71,
7d ; Great Western of Canada, 14, 141 ; Do. New
Shares, 6,5 y d ; Great Luxembourg, 5, 51 ;
Grand Trunk of Canada, 7 7-16, 74; Lombardo-
Venetian, 21, 2d; Do. New Shares, 3, 23 d.
The Corn Trade continues in a very excited con-
dition in all the markets of the country. At the
Liverpool Exchange this morning there was a good
attendance of buyers, but, in consequence of the ex-
treme advance demanded in prices, the amount of
business done was restricted. Wheat was held for
an advance of is 6d to 2s per cental. Flour was 2s
to 2s 6d higher, and Indian Corn, Barley, and Oat-
meal were a shilling dearer. At Leeds the quotations
for Wheat was 8s above that of this day week.
The excitement which has recently been noted as
prevailing in the Rice Market has, in some degree,
subsided to-day, but holders are still" firm in demand-
ing full prices, which, therefore, remain unchanged.
The sales reported to-day were 5,500 bags Necransie
at 9s 6d, and 3,250 bags Bengal, chiefly at 13s, up to
14s for fine, and late yesterday 750 tons Rangoon, to
arrive, were placed at lls 6d, ex quay ; 150 tierces
Carolina have also been sold at 21s to 23s 6d per cwt.

The Manchester Goods Market is in a state of the
most ',complete stagnation, and to-day there was an
entire absence of buyers from the market. As re-
gards prices for both Goods and Yarns, they cannot
be tested, but if sales were pressed, sellers would
have to submit to a very heavy reduction from
recent quotations.
The London Stock Market is gradually recovering
from the severe panic with which it was seized
towards the close of last week, and, with more dispo-
sition to do business, prices have -again improved.
Consols opened steadily at an advance of about a
quarter per cent., and after attaining a further
advance of about three quarters per cent.
receded a little, and finally left off about
three-eighths above the closing prices of yesterday.
Stock for Money was better than for the Account.
The closing prices for Public Securities were :
Consols for Money, 904, 901 ; Ditto on Account,
904, 902. ; Bank Stock Three per Cents., 894, 897,.

The London Share Market, like that of
Liverpool, has shown much more steadiness
to-day, and a fair amount of business has been
done at better prices. The final closing
prices were : Caledonians, 73,74; Eastern Counties,
52, 53 ; East Lancashire, 84, 86 ; Edinburgh and
Glasgow, 68, 70 ; Great Northern, 951, 961 ; Ditto A,
78. 80 ; Great Westerns, 491, 501-;', Grand Trunk of
Canada, 7, 71 ; Great Southern and Western, 102 ;
Lancashire and Yorkshire, 84, 86 ; London and
North Western, 86, 87 ; London and South Wes-
tern, 84, 86; Leeds Northern, 41, 42; Manchester,
Sheffield, and Lincolnshire, 33, 34; Midland Stock,
931, 941 ; North British, 50, 52 ; South Eastern
9
and Dover, 601, 61 ; York, Newcastle, and Ber-
wick, 82, 84; York and North Midland, 67, 69;
Lombards, 24, 21 ; ditto new, 31, 3.
The Tallow Trade has for some days past attracted
considerable attention. We quote- the following
from the London circular of Messrs. Colchesters and
Woollier :

The unsettled state of politics on the Continent, and the
fear that this country might be brought into collision with
Russia, caused the Tallow market to be very excited in the
early part of the week, and the prices ran rapidly up to 60s.
at which some amount of business was transacted. This
brought forward sellers, as the belief began to gain ground
that, at least for the present. nothing was likely to interrupt
the importation from St. Petersburg, buyers became less
anxions, and we closed dull on Saturday at 68s. 6d. for the
end of the year. The prices remain high at St. Petersburg
192 roubles are paid on the spot, and 189 roubles for

August with hand. money. This, at the exchange of 34d,
would cost about 575. laid down here. To-day the market
is very inactive, and hut little is done. 58s. instill paid on
the spot. 575. is offered for June, and 58s. 6d would be
accepted for the last three months. There are but few sorts
offering. Town tallow quotes 565. 3d. nett cash.
___ _

The following is from Messrs. Smith and Charles

After a week of extrnordinary excitement, it seems de-
sirable, as far as possible, to review the fresh events which
have occurred, to ascertain how far they are likely to
influence the future position of the Tallow market. We
stated last Monday that it was the opinion of many parties
that war in consuming countries, such as Austria and
France, should tend rather to a decline than an advance in
prices. We think, however, that such parties hardly look
at every side of the question ; for, although Austria and.
France are certainly consuming, they are likewise pro-
ducing countries, though not for export; and calculating
the large crops of olive oil they produce, which we may
suppose it will be difficult in a state of war to collect and
export, and the damage which might result from war to
every department of agricultnral industry, we very much
doubt whether war will not reduce their native production of
tallow and oil to a degree superior to the reduction of
their power of consumption. No doubt the first effect of
the war is to induce the holders of tallow in those countries
affected, especially at this season, when the consumption
is comparatively small, to ship their surplus stocks to this
market; but if there is any force in the foregoing remarks,
such shipments will only make their necessities the greater
in the ensuing season. These surplus stocks, however,
are very small, and are hardly of sufficient consequence to
be an element in the price here. By far the most import-
ant matter for consideration as bearing upon the future
course of prices of tallow, is this treaty, convention, alliance,
or " written engagement," or whatever else it may be
called, which has passed between France and Russia,
and which, in the words of the most astute of our diplo-
matists, is an alliance, he fears, "with the object of
aggression upon other powers ;" and when we hear of
Russian armies of observation on the Gallician frontier, of
assurances from St. Peterburgh that such "an arrange-
ment contains nothing which in the most distant manner
could be interpreted into a hostile alliance against Eng-
land," of the sudden rising here by increased boun-
ties of a large extra force of seamen (not to mention
the mobilisation of the whole Prussian army), one is un-
pleasantly reminded of the events which preceded the late
Russian war, with the additional certainty that there is a
" convention" in existence which will prevent France
opposing the traditional policy of the Russian government.
Nis not for us to predict how soon we may again hear of
the "sick man ;" but, in recollection of the gravity of the
circumstances which attended his last appearance, it is
hardly a matter of surprise that last week there was so
much excitement in our trade, the fluctuations once or twice
amounting to as much as ls. per cwt. in a few hours. The
advices from Petersburg quote an Advance on the spot to
192 rs, and a decline for August to 188 rs, rather a
cant indication of the views entertained there of the present
situation. Not a great deal of business has passed to-day,
and the market leaves off without excitement. Spot 575. 61,
June 575. 6d., July and August 585., sellers, October and
December 58s. 6d. to 58s. 3d. No Odessa or South
American offering. We quote Palm Oil 475., Cocoa-nut
Oil (Cochin) 435., ditto Ceylon 41s. 10d. to 41s. Town
Tallow 56s nett cash.

Messrs. Grant, Hodgson and Co. give the following
report of the London Tobacco Market in their
monthly circular just issued :
The market at the commencement of last month presented
no change in character to that described in our last, and
sales continued very limited; subsequently an improved

demand was experienced, especially for good and fine
descriptions, and the sales of the month may be estimated
at 730 hhds., viz., 120 hhds. Virginia Leaf, 50 hhds. and
tierces of Strips; 200 hhds. Kentucky Leaf, and 360 hhds.
of Strips ; In Maryland sales were confined to a few
selected hhds. Varions opinions have been expreesed for
some days past, as to prospective prices, consequent on the
state of affairs on the Continent, and recent purchases have
in some measure been influenced by the views of buyers on
this subject. There has been a slightly improved demand
for exportation, but almost confined to very common
descriptions. Latest advices from Richmond represent
prices very firm; and from New Orleans, it is stated that
there has been an increased number of buyers, for selec-
tions, which are held firmly; but the market was heavy and
dull for low and medium qualities. There has been a fair
extent of business transacted in most descriptions of
substitutes, and desirable sorts are becoming comparatively
scarce.

Messrs. Alfred Brett and Co., in their monthly
circular, issued yesterday, say that " The depart-
ment of shipping. cannot, •at present, claim any
exemption from the general depression which may
be said to pervade the commercial world. It is even
feared that, in consequence of the political con-
dition of European affairs, the free navigation of
waters, upon which a large amount of steam and
sailing tonnage has hitherto found employment, may
undergo interruption. Some enquiry exists for the
charter of small size steamers, by the voyage ; and
a few engagements have very recently been made in
coal freights for the French Arsenals, at fair rates.
In contracts for new steamers very little was done
last month ; and building establishments generally
remain inactive. The amount of steam tonnage
which changed hands in April has not been exten-
sive ; but it is understood that some important nego-
ciations are pending. Inquiries on the part of
buyers are not very urgent. Under the dread of
impending war,rand the consequent political compli-
cations, the aspect of the moment is very -

far from

encouraging fox

lipping property.
urket is reported by Messrs. J. P

The Freight
Platt and Co., as follows

Australia : Tne langour mentioned in our last report of
goods coming forward for this colony still continues, and the
tonnage at present on the berth is more than sufficient to
meet the requirements of shippers. The unsettled aspect
of political affairs, and the almost certainty of war at pre-
sent pervading the public mind, tend further to retard ship-
ments, and consequently make freights very unsettled.
Melbourne : To Railway Pier, our quotations, which must

be considered nominal, are 40s to 45;; earthenware, 37s 6d
to 40s per ton measurement ; dead weight, 35s to 40s per
ton weight, per Royal Charter (screw steamer), sailing 15th
May. Freight to Melbourne Wharf, 60s to 70s per ton
measurement. To Sydney : Fine goods, 40s per ton mea-
surement; earthenware, hardware, &c., 35s to 40s per ton
measurement. To Adelaide : Fine goods, 405 per ton mea-
surement; earthenware, 35s per ton measurement. United
Staes : The prevailing easterly winds preventing the arrival
of ships inwards, has tended to keep freights firm. 'We,
however, as mentioned in our last, do not anticipate a con-
tinuance. Our present quotations are:—

Per ton Measurement.
New York. Boston. Philadelphia. N. Orleans.
s. d. s. d. s. d. s. d. a. d. s. d. s. d. s. d
Dry Goods .. 12 6t015 0 10 oto2o 0 12 6t020 0 25 oto3o 0
Hardware ..126 to 15 0 12 6t015 0 15 oto2o 0 25 oto3o 0
Earthenware 76 to 80 70 to 80 76 to 80 10 otol2 6
Per ton Weight.

Chemicals... 17 6t020 0 20 0 v 20 0t022 6 25 oto3o 0
Iron 176 to 200 200 to 226 200 to 226 250 to 300
Salt 15 oto2o 0 15 0 17 otol7 6 Nominal
Present price of Salt : Coarse, 4s 3d to 4s 6d ; stoved, 7s 6d
to 8s ; factory filled, 11s to 15s per ton. Sacks : Common,
6;ld to 61d ; fine, 15d to 17d each. Coal : Orrell, lls 6d to
12s ; steam, 9s to lis ; cannel, 16s 6d ; coke, 16s to 18s
per ton, f. O. b. The total value of British goods exported
from Liverpool for the month of March, 1859, was
£5,513,147 ; and for the three months ending 31st March,
£15,775,614, against £3,483,294 and £10,919,186 for cor-
responding periods last month, The declared value of
exports from this port to the United States for the month of
April, 1859, was £1,791,991; and to the Australian colonies,
£105,137.

The demand for Money yesterday was brisk, and
in consequence of the high charges of the dealers in
respect of all but the shortest-dated imper, a large
amount of business has again been carried to the
Bank. The demand indicates the existence of a con-
siderable degree of timidity, and, should the with-
drawals of gold be continued, may ultimately

an advance in the minimum to 4 per cent.,
paper, having 30 or 45 days to run, is taken in Lom-
bard-street at 34 per cent ; for longer periods, 4 and
41 per cent is demanded, and six months' bills are
exceptionally treated.

ca use
Only

The amount of Gold withdrawn from the Bank
yesterday for exportation was 86,0001., making a
total of 166,000. since the date of the last return.

The Champion of the Seas has arrived from
Melbourne, with 92,2001. in Gold.

The exact amount of specie engaged for transmis-
sion to the East by the steamer Indus to-morrow is
367,0721., of which 12,2581. is gold and the rest
silver. The whole of the silver for Calcutta is re-
mitted by Government. Subjoined are the particu-
lars : --For Calcutta, 323,0001.; for Hong Kong,
28,054/4 for Madras, 7,453/4 for Manilla, 3,600/4
for Alexandria, 2,000/4 for Shanghae, 1,800/.; for
Ceylon, 1,065/4 and for Aden, 100/.
The demand for silver for the Continent has
sensibly slackened, but the quotation here is still
maintained at 624 d. This high price tends greatly
to check private remittances of silver to the East.

The government contract for 50,0001b5. of tea
was taken on Friday, by Messrs. Strachan and Co.,
of Cornhill.

Amsterdam Short

FOREIGN EXCHANGES,

Ditto,3 months

Rotterdam

Antwerp

Brussels....
Hamburgh

Paris Short

Ditto,
.3 months

11 ... 11i to 11 12
11 ... 14 ... 11 ... 15
11 14 .. 11 .. 15
24 ... 92,k ... 24 ... 971
24 ... 92; .. 24 .. 971
13 ... 4 ... 13 ...
25 0 ... 25 ... 10
25, ... 25 ... 25 ... 30

Frankfort
Vienna ..
Trieste ..

St. Petersbur

Madrid

115 ... -
14 ... 0
14 ... 0

48g... -

The Funds to-day have again shewn a tendency to im-
provement. The latest quotations were nearly 3 per cent.
above those of Saturday. The actual recovery in prices is
principally confined to the English Funds. Many other
classes of securities are still prejudiced by continued
realisations for account of embarrassed houses in the Stock
Exchange. Not until the payment of the monthly
differences in Consols, fixed for Friday next, shall have
been completed, can the Stock Exchange be said to have
fully weathered the storm. The demand for money to-day
was brisk, and indicates the existence of a considerable
degree of timidity, and should the withdrawal of gold be
continued, it may ultimately cause an advance in the
minimum to 4 per cent. Only paper having thirty or
forty-five days to run is taken in Lombard-street at 31 per
cent. ; for longer periods, 4 and 41 per cent. is demanded.
The amount of gold withdrawn from the Bank to-day for
exportation was £86,000. The £145,000 by the Heather
Bell and Austral, from Australia, will be taken for the
Continent. - Daily News City Article,Monday Evening.
In the early part of the day continued investments, on
the part of the public, caused an advance in Consols ; but
the moment these investments ceased, there was a relapse.
Almost invariably whenever Consols fell below 90, the
public came forward to employ their spare means. Thence
it is only through a series of adverse events that
the price is driven permanently below that point. There
were no further failures in the Stock Exchange
to-day, and in most instances the dividends to be
paid by those who have suspended will prove better than
had been anticipated. The average is likely to range between
Ss and 15s in the pound ; in one case a settlement in full
has been effected. The demand at the Bank for discount
is active, and a further advance in the rate is probably not
distant, For immediate purposes there is no particular
pressure, but the leading commercial firms are taking pre-
cautions against all contingencies. The charge for six
months' bills is consequently 54-- to 6 per cent. The Bank of
England, however, accommodates their customers by making
advances for two or three months on such paper at 41 per
cent. The effect on the merchant service of the Govern-
ment bounty offered to seamen can scarcely yet be ascer-
tained ; the supposition is that it will lead to an increase Of
between 20s and 30s per month in the rate of wages.—
Times City Article, Monday Evening.

-----®--

MANCHESTER TRADE REPORT.-MAY 3

We have a dull market, and so little business doing that
the price of yarn is becoming irregular. Spinners generally
would to-day concede, but buyers are shy.

LIVERPOOL PRODUCE MARKET.—MAY 3.
Colonial, &c. : There is rather more inquiry for Sugar ;
5,000 bags clayed Manilla are reported at 38s, and 600 bags
old low white Bahia at 24s 3d per cwt in bond. Nailing
done in Molasses. A parcel of 60 puncheons Demerara
Rum has been sold at a further advance of 2d per gallon.
The excitement in the Rice market noticed yesterday has
rather subsided, but holders display firmness, and prices are
without change ; 5,500 bags Necransie are reported at 9s 6d,
and 3,250 bags Bengal, chiefly at 13s up to 14s for fine;
late yesterday 750 bags Rangoon, to arrive, were placed at
is 6d ex quay ; 150 tierces Carolina have also been sold at
21s to 238 6d per owt. We have nothing to report in Dye-

woods. Ashes : Pots quoted at 31s 6d to 325, and Pearls at
31s 6d per cwt.- A steady business doing in Nitrate of Soda,
at 15s 6d to 16s per cwt; and nothing further to notice in
Saltpetre. In Brimstone, only retail sales at £8 7s 6d per
ton for best 2nds. 400 boxes small Pearl Sago, of fine qua-
lity, reported at 22s to 22s Gd, and 300 bags Sago Flour, to
arrive, at 17s 6d per cwt. Oils, &c : Palm at £47 per tun ;
Olive is very steady, with little offering ; a small business in
Cocoanut Oil at 45s per cwt. Tallow quiet ; PYC at 60s.
Of Rosin, 450 barrels common' at 4s 3d to 4s 4d, with 200
barrels medium at 7s ; and 44s to 45s per cwt asked for
Spirits of Turpentine. The Jute at auction went off with
spirit at advanced prices, and including a parcel by private
contract, 1,500 bales have changed hands from £l4 15s to
£lB per ton. We have also to notice 350 bags Bombay
_Rapeseed, at 46s to 46s 6d per quarter.