The Northern Daily Times.
Liverpool, Merseyside, England, 1857-01-08 00:00:00

MONETARY AND COMMERCIAL

LIVERPOOL, WEDNESDAY EVENING.
The Cotton Market to-day was very firm, and
Prices are somewhat higher than on Friday last.
The sales were 10,000 bales, including 2000 on
speculation and for export.
The Liverpool Share Market opened very firmly
to-day, continued so, and closed at the best prices.
The following were the day's transactions :
Blackburn, 6-1, 13.16, 7,-. Eastern Counties, 9,
9 16 East Lancashire, 231. Great Western, 681
Lancashire and Yorkshire, 972. London and North
western, -107. Manchester, Sheffield, and Lincoln
iire, 341. Midland, 83, -L. North Western, 7-1
2
hovers, St. Helen &nal and Railway, 6 per
cent , 120 Dutch Rhenish, / p. Great Western of
Canada.24a. Liverpool and London Insurance, 6e- p.
Royal Insurance,2 7-16 p. Magnetic Telegraph,46l.
The closing prices were :—Blackburn, 8e 9
Chester and Birkenhead, 651, 651. Caledonian,
311 31: Chester and Holyhead, 19 194. Eastern
Counties, 94 9 9-16 East Lancashire, 231 23k.
Great Northern, 221 23. Ditto A shares, 9e 91
Great Western, 63k 68a. Lancashire and York-
shire Stock, 971 97fi Liverpool, Crosby, and
aithport, 181 IBa. London and North Western
Stock, 1067- 107. Manchester, Sheffield, and
Lincoln, 3.1„1,. 31;.. Midland Stock, 83 834 North
tritiela, 10 101 North Staffordshire, 4a 4:- d.
South Eastern and Dover, 222 22 11-16. Scottish
North Eastern, 13.1 131 North Eastern—Berwick,
211 21Z. York and North Midland, 30} 302.
Leeds Capital Stack, 18 9-16 18 11-16. Buffalo and
Lake Huron, 14 28p. Dutch Rhenish, 1 9 16p
Great Western of Canada, 248 25. Do. Now
Shares, 2-1 28p. Great Luxembourg, 101- 104 d
Grand Trunk of Canada, 13k 13 11 16.
There is rather more ease in the Money Market,
the application for discounts by the commercial
Cohlmunity being comparatively of a less urgent
character, and the supplies being ample. Trade
\v es exceedingly dull, while speculation on the
stock Exchange is also quiet, the pressure for
money has naturally abated, and, as usual under
snail circumstances, the bill brokers and others
aare now charging a to 1 per cent less than the
auk of England, iu 'order to secure as large an
li°aount of business as possible. The difference
between their quotations, however, and the mini-
'flutri is not sufficient to diminish the inquiry at
the national establishment ; but altogether, there
hasan easier market, and increased confidence
naturally been the result. The divi-
dends are payable to morrow, but it is
questioned whether this will have any immediate
ei ect upon the value of money out of doors, espe-
allY as advances have been obtained at the Bank
-'n anticipation to a considerable amount. With
regard to the New Turkish Loan, it is now ru-
Inoured that this measure will be deferred. When
1t is recollected, however, that the Sultaa will,
eeoner or later have to raise a large amount, the
question of a few weeks is one of little importance,
When the probability that the supplies will have to
e obtained from this country is included in a con
Kideratiort of the prospects of the Money Market.
i,ret-class Bill are diecounted at 51- per cent ; and
'a the Stock Exchange the supply of money is
abundant, so that loans are now obtainable at pro-
portionably lower rates. The banking and dis-
count houses have good reserves, which will pro-
bably be further increased in a few days ; and it
Scents to be anticipated that some competition will
then arise for the best class of paper. But
although present appearances are favourable, great
caution is visible in making advances, and in some
ibranches in foreign trade, which ore thought to
141Etve been rather overdone, complaints are made of
'he diffinfity of obtaining accommodation as well
as of the terms required.
The easier state of the Money Market, the arrival
(IF specie from Australia, and the official announce.
!neat of the final settlement of the disputed points
In the treaty with Russia, have strengthened the
potations for Consols, but there was an absence of
buoyancy. Consols have been privately transferred
at 04 to 941 The prices for the Bth (to morrow)
;I'l're 94 to 941, and for February 5, 941, a. The New
1.1.°e per Cents wore 94i 2, the Reduced 941 Z
Icllequer.Bills par to 4s' premitim, being rather
at,
and the Bonds 99. Bank Stock is 2162
stocks have attracted very little attention
aiezt
quotations are almost nominal. Sardinian
Per Cnts were 88.1, being a sllght i
proven-lente: Spanish Committee's Certificates
reat
ee Ise 6, Turkish 6 per C ,nts have ad
encel to ee-7_, se, but the 4 per Cents were
edeals in. Dutch 4 per Cents brought 971
erie following are the nominal prices of Foreign
ne
e ei
el 4..5s :—Grenada Deferred Bonds, 6 7 ; Mexican,
g Peruvian 4! per Cents, 77 88; ditto 3 per
faittetse 55 6 ; Portuguese 3 per Cents., 43 5 ; Rus
snansPer Cents.,
cn
n t se. ,1t
50.6, 8; ditto 41 per Cents., 95 ;
4 3 P 1 40r 41; ditto. Deferred, 23k
ditto
Certificates 61 61; ditto Passive, 51 6.
eathilee London Stock and Share Market was.
Eir
anl quiet, most of the dealers being engaged in
arlre egtng the settlement of the English funds,
Prielecui taikes. place to-morrow., One or. two of the
Pal lines, however, nave slightly imd
tile led. Great Northern, Great Western, and
fixate„ improved 10s., and Scottish North
deeper° and South-Eastern ss. North-Western
portttlaed about ss, No business has been re-
wool' in the French lines, and prices nominally
The Canadian lines rule steady. In
of t 'to r.k Bank Shares only a very limited amount
I-lainess has been done, at about previous
citations. Ottoman Bank declined about ss.
1-31 a In Miscellaneous Shares prices have
to 137waY to a slight extent. Canada had receded
Ste,„L• Crystal Palace, Peninsular and Oriental
low-er', and General Screw Steam were a shade
slvbele
ng the past year the price of leather has
that „meeed, and it would appear from all accounts
fitterle consumption of that article has enormously
sirroe:ised in England, and in almost every nation
street Messrs. Tristram and Kipling, of Dale
the ' in
their remarksra just issued, make
n, ;Cowing on the position of the
earket
Thor the e no want of satisfactory reasons to account for
ape main
position of the trade, particularly as to pri(es—
tokvheatain fact being that many countries from which (even
selveen prices were half their present standard) we received
serable supplies of both hides and leather, are them-
iri ,t importers, and strong competitors with us fur hides,
th:-2.9 South American and other markets; with respect to
4 United States this is particularly apparent, as well as
j,‘ll many countries on the continent of Furop-. One
ti7epoitant cause of the increase in the home requirements, is
eq large orders for boots and shoes far (apart to the
e,„„4lleel and other parts, which have had to be executed.
trade ding
to the Board of Trade returns, this branch of the
appears to have greatly increased, and it evidently
iviVent that this country is yearly becoming a depot. to
oftia._ other countries look for supplies. With this state
eaa,eulge existing there can scarcely be any doubt that the
teelmption
A ate: of leather has for some time exceeded
for trnufacture, which of itself is sufficient to account
high value of all articles connected with the trade.
fiat, !Ig Proof that the present value of leather is legiti-
eirei; lte that the principle advances took place at a time
peiitio a tightness in the money market depreciated the
den,. 13.01 almost every other branch of trade in the king.
are b At the present time the stocks of hides and leather
Santa°ln exceedingly small, and quite
of insufficient for the
is athe trade, which are large and increasing. There
as
gtajal°d Prospect of the money market becoming easier,
4144
to general business of the country is satisfactory ;
the couoetwhich the working classes are well employed ; and
%seri, try beieg
u no longer at war, all the markets of the
Roce'te" °Pen to our manufactures., As the prospects for a
that demand for leather are very encour.a ine it is evident
t}ie Prices leancannot recede without a considerable increase. in
leech , uracture this cannot take place unless we receive a
4D.,
ea Larger supply of foreign hides, which from present
13fPlinetertitee.4 seems involved in more than the usual amount
str sBlll. eetJames Gordon & Co , of -Tithebarn
In o' 'flake the following observations:—
heur tee
Nat
_L- annual circular we ventured to remark that in
Re'°rat..y, ta!" peace being declared, a depression,,merely tem-
rTcineeraitt be expectek?, and this was verified by some
(lotion
ofSales of River Plate hides being effected at a
tetlratioe. id to id per lb immediately after its
Ae the u
eetaanelhis decline was instantly responded to by an
ao sew prices soon resumed their former level
e," the ania, advanced, the moderate extent of sepplies,
then deterredanese of stock iu the hands of tanners (who had
that 04 f_
h 'on' operating freely, under the impression
ttlablealme cenclusion of the war prices would recede,)
With
- an increased export, as well as

home demand for leather, tended to raise prices
to a pitch far beyond what was anticipated. To
the undiminished demand and the diminishing
stock are to be attributed our present uDprccedented quota-
tions, and until there is a prospect of these conditions being
reversed, no retrogression of value can be looked for. If
it is also borne in mind that the wants of the Continent and
the United States are as pressing as our own, and that the
constant production]of gold has a tendency to enhance the
prices of all articles, there appear to be good grounds for
aesuming that hides must for some years rule et a very high
figure, and there is no chance whatever of their returning
to anything like the old level, and that until a greatly in-
creased production takes place (of which there seems no
immediate prospect), prices are more likely to advance than
to decline.

Aciording to the annual circular of MesSrs.
C'nurehill and Sim, of London, the imports of wood
during 1856, into the United Kingdom, were some
25 per cent. over those of 1855, but to London
there was an increase of only 8 to 10 per cent , so
that

The London importation has not been resumed in its full
proportion with that of the United Kingdom; but if, in the
metropolis, we have imported less than our usual fourth
part of the aggregate, it should rather create satisfaction
than regret ; for while our consuming power shown in
the subjoined estimate to be vigorous and nearly equable,
scarcely affected by the war, or daring periods of greater
or less supply, we remain unburthened with heavy stocks
of wood, and, consevently, neither exalted by high, nor
deprosed by low pric3s.
The corrs7imption in London, in 1856, of sawn
wood. was c qual to 6,731,000, and of hewn wood,
170,000 lea(is. The circular alluded to, noticing
this fact, observes :
It is not at any tine easy to trace the channels of trade
through which this large amount is consumed ; and we are
debarred from referring it to building speculaticn, great
public works, or schemes of convenience and improvement,
in a year like the past, when many such undertakiags we-e
suspended in consequence of the high value of money. Yet,
the fact of the large consumption of wood is before us. If
enterprise, if speculation has been inactive, and if in the
building and equipment of ships, and in military prepara-
tions, we have not obtained the same equivalent for the
work of peace, as in 183.5, where can we look for a solution
of the fact, but to the indispensable use of wood in every
branch of our domestic economy; in all directions, and in
every form, increasing with our own growth of numbers,
wants, and necessaries, and requiring yearly renewal to
keep nave with the progressive commerce cf the country ?
Breadstuff; of all descriptions are to be allowed
free admission during the present year,and several
alterations are reported in tariff and port charges
at the port of Hamburg,b :—Abolition of export
duty ; abolition of ship dues; abolition of tonnage
dues on river boats for their passage on the river,
including vessels that arrive from beyond sea and
Heligoland with fish ; and also on steamers carry-
ing passengers to and from Heligoland, Fohr,
Norderney, such vessels, however, in case of
entering into harbours, to pay harbour dues in
conformity with regulation of &h December, 1843
Abolition of import duty on cotton, woollen and
half woollen yarn, flax, and other articles, in-
serted in paragraph 3of the Customs Regulations
and in the list of articles not liable to duty,
annexed to that paragraph; on passenger's
baggage, if accompanied by owner, and not ex
ceeding the value of 100 marks banco, exclusive of
wearing apparel; and on all articles imported in
parcels not exceeding the value of 20 marks banco.
Goods will be allowed to remain in transit for a
period of nine months, and the transit dues are
reduced to Is. Si.. per cent for the first three
months, and to a like amount for a further similar
period ; the value of such goods, the prices of
which are not quoted on 'Change, or otherwise
notified, to be calculated according to cost price,
with addition of freight and charges.
The Montmorency has arrived from Australia
with late dates, and about 400,0001. worth of gold.
The commercial accounts are most favourable and
cheering. Dry weather had set in, and operations
in goods and produce of every description were
most extensive. Prices had not, however, advanced.
The large stocks previously on hand preventing
this. The wol, trade was rather dull, but tallow
and hides met with a ready sale. Gold sold at
75s 6d to 77s per ounce, and the accounts from the
mines were unusually flattering ; large deposits
being obt tined in nearly all the recognized gold
fields

Tho Candace has arrived from the Coast of
Africa with 1,500 ounces of gold.

Commerclat

LIVERPOOT! COTTON DARK T.-JAN. 7

The cotton market continues daily to harden ; the de
maud to-day has been good, and, with a moderate supply,
priccc are very firm. The sales—including 500 Pernam-
buco; 7'd to 80, 100 Bahias 71d, GOO Egyptians 81 to 121,
2,000 &rats 4i l to 61—are reported 10,000 bales, of which
2,000 are un epeculation and for export.