Northern Times.
Liverpool, Merseyside, England, 1857-08-29 00:00:00

THE NORTHERN TIMES.--LIVERPOOL) SATURDAY, AUGUST 29, 1857.

They contend that the London and North-Western
Company have not performed the stipulations of,
and have broken the agreement of. July, 1854; that
:he London and North-Western have pursued
towards the Sheffield Company a general course
of bad faith ; that they have attempted unauthorised
negociations for an injurious territorial division,
&e, without the knowledge or concurrence of the
Sheffield Company; that the London and North-
Western Company have, on various occasions,
assumed a hostile attitude towards, and refused
arbitration when urged by, the Sheffield Company ;
that the Manchester, Sheffield, and Lincolnshire
directors were therefore justified in treating
the agreement of, July, 1854, as terminated
by the London and North-Western Company
The Sheffield directors further state that the
London and North-Western Company have since
repudiated agreements and refused arbitration,
and that the proceedings which the London and
North-Western Company's management is now
adeptieg are neither 'wise nor dignified, nor likely
to advance the interests of their own shareholders
nor of railway property generally. The Man-
, ehester, Sheffield, and Lincolnshire Company con-
tend that they have honourably performed their
part of the agreement. In conclusion, the Sheffield
directors appeal to their own shareholders and
the public, and state that they have acted through-
out as honourable men ought to act-under circum-
stances of extreme difficulty, and their consola-
tion is that, mot only is the course they have pur-
sued right and just, but that it will, in spite of all
temporary obstructions and embarrassment which
an angry and powerful opponent can bring
about, redound to the advantage not only of
their proprietary, but also to the greater interests
of the public
The following are the latest quotations of Foreign
Exchanges :—Amsterdam, short, 11 16 to 11 17 .;
do. three months, 11 19 to 11 194; Rotterdam,
do , 11 19 to 25 40 ; Antwerp, do , 25 35 to
25 40; Brussel?, do, 25 35 to 25 40 ; Ilamburgh,
do., 1' 7 to 13 8; Paris, short, 25 171 to 25 25 ;
do , three months, 25 57 to 25 62i; Marseilles, do.,
,25 53 to 25 65 ; Frankfort. do., 119 f, to Ima;
Vienna, do., 10 30 to 10 32.; Trieste, do , 10 30 to
10 U; St. Petersburg, do., 361 to 301; Madrid,
481 to 49.

BANK OF ENGLAND RETURNS.

Account, pursuant to the Act 7th and Bth Victoria, cep.
32, for the Week ending August 21, 1857.

ISSUE DEPARTMENT.

Debit. Credit.
Notes issued .. £25,039,490 Government
Debt
Other securities 3,4159,9Jt:
Gold Coin and
Bullion

£25,039 490 i Total , ... £25,039,490

BANKING DEPARTMENT.

Debit. •
PrOprietors' ca-
pital
Rest
Public deposits 5,793:,03
Other „ 9,765,803
Seven days, and
other bills 727,692

Credit.
Government se-

curities £10,593,654
Other securities 1.7 3:53,'8.5
Notes 5 830,885
Gold and silver
coin

Total .... £34,443,565 I Total £'4,443;565
Compared with the returns of the previous week,
we have the following results :
Active circulation
Decrease
11,239,131
28,794
Rest ..... 3,598 203
Decrease 37,044
Seven day and other bills . 727,691
Decrease
Public deposits
Increase
Other deposits
Decrease
Government securities 10,593,654
Unchanged
Other securities . 17,353,385
Decrease
Notes unemployed 5,830,885
Increase

Bullion..

Decrease . .

.It would appear from the telegraphic despatches
that the exchange at Calcutta on London is rather
worse, and that at Bombay a little more favourable
to this country. At Shanghai no change has oc-
curred, whilst at Hong Kong the tendency is still
rather unfavourable. Business in silver for ship-
ment to the East by the Indus, on the 4th
September, is restricted, pending the arrival of the
letters from India and China. It is still thought
that the Indus will not take out so large a quantity
of silver as was despatched in the last steamer.
A telegraphic message quotes the price of the
Company's 4 per cent. paper at Bombay at 17 per
cent. discount, showing some improvement, It is
also stated that the government will accept sub-
scriptions to the three million 5 per cent. loan,
half in cash sad half in 4 per cent. paper at par.
This would naturally tend to diminish the discount
on the latter stock.

The Tea market yesterday was firmer, owing to
the telegraphic news from China. For common
Cougou is 2id was paid. It appears from the
telegraphic intelligence that the shipments of
Tea from China up to the 30th June (the end of
the Chinese year) were 27,500,000 lbs. less than in
the previous year, and that the quantity of the
new crop arrived at the ports was very small.
In the Bankruptcy Court yesterday the case of
ssrs. Evans, Hoare and Co , was adjourned
until the let of October, the accounts nos being
filed. The joint liabilities are stated at about
25,0001., whilst the assets are rather uncertain.
ith reference to the market for American se-
curities, Messrs. D. Bell, Son and Co., report as
fellows : "During the past week no change has
taken place in the market for American securities,
and our report continues to be prices nominal,
nothing doing."