Northern Times.
Liverpool, Merseyside, England, 1857-10-14 00:00:00

THE NORTHERN TINIES.:::-.LIVERPOOL, WEDNESDAY, OCTOBER 14, 1857.

MONETARY AND COMMERCIAL.

apital into the market, but will also tend to deter-
many people from investing in securities. _

From all the other continental stock markets a
fresh fall is reported. The further redueCon in
Austrian stock averages about per cent.
We are almost weary of referring to gloomy
features, yet must draw attention to an unfavour-
able movement of the exchange at Calcutta on
Lmldon. According to two telegraphic despatches
the rate is now 2s. 3*d.: by last mail it was
reported at 2s. 20. to 21(l. About half a million
in silver is engaged for shipment by the packet of
the 20th instant. It is thought that the aggregate
remittances will approach 800,00 C/
The steamer Panther has brought about 12,0001
in silver from Boulogne.
At St. Petersburg, on Saturday afternoon, we
learn by telegraph, the price of tallow was rather
fit mer, at 176r0. on the spot. The quantity ship-
ped up to that date this season is 74,000 casks,
against 95,000 at the same date last year.
The Glasgow Water Commissioners offer 4 per
cent. interest for loans on the security of the works
and water rates of the city. We understand that
the power to borrow extends to 700,0001, of which
300,0001 is already raised.
The concession for the construction of the
Copiapo Extension Railway having been obtained
from the government of Chili, a meeting of the
shareholders is called for the 16th instant, " for the
purpose of authorising the immediate construction
of the works."

LIVERPOOL, Tuesiny Evening

The Cotton Market was rather inactive, but
holders were very firm, and no change occurred in
prices. The s7.les were only 2,500 bales, all to the
trade. To illus`rate the extraordinary position of
the trade at the present moment, we annex a copy
of a circular issued on Saturday last, and widely
distributed amongst Cotton Spinners:-
11, Cross-street, Manchester, 10th Oct, 1857.
Dear Sir,—We did not expect again to address you this
season from this side of the Atlantic, as the writer purposes
sailin! for America by the Persia on Saturday next. The
aspect of affairs has, howaveo, undergone a considerable
change by the accounts this day received from America.
The monetary panic has at last began to affect the cotton
trade, in common with every other interest in the country.
The scarcity of money has become so intense that exchange
on the northern cities cannot be sold at the southern ports
on any terms, and at the latest dates it had become im-
pos-ible to negotiate, even on Great Britain or the Con-
tinent of Europe ; hence the trade is at a stand still, and
at the last dates a decline would have been conceded had
any one been able to purchase. It is now evident that this
state of affairs will continue for some time to come, and
thus that shipments to this country will be as completely
stopped as if the ports ware blockaded, and the cotton will
be left to accumulate. Hence we may witness a consider-
able advance here—which, indeed, is inevitable, unless the
mills stop—cotemporaneoutly with a heavy decline there,
consequent upon the total want of buyers. Indeed a
decline to 7d. or Si per cost and freight in America,
cotemporaneously with an advance to 10d or ls. in
Liverpool, may easily occur. This will be a most tempting
state of affairs for the importer, and, in order to take
advantage of it, we propose, with their co-operation, to
arrange a system of bank credits which will cover the
business of our friends. If you wish to share in the
advantage of this, and thus to provide yourself with cotton
where it is certain to be obtained cheap, instead of sub-
mitting to the almost certainty of stoppage of your
machinery for want of supply, we would be glad to see
you at Mr. 011eranshaw's office, as abive, any hour on
Tuesday next ; or, if you cannot come, pFrhaps you will
write. and we may try to see you. Had time permitted,
the writer, to save yo'i trouble, would have called upon
you ; but that is now impossible.—We are, dear sir, your
faithful servants, (Signed) NEILL, Bess, & Co.
The amount of Cotton now at sea is only 13,230
bales, from the following ports, viz.:—

The traffic return of the Great Western Railway
of Canada, just received, shows a decrease of
3,0591., compared with the corresponding week of
last year.
The Stock Exchange Committee has appointed
the 19th instant a special settling day in the new
shares of the South Australian Banking Company,
which are to be marked in the official lis's.

LIVERPOOL COTTON

MARKEF.—Ocr. 13.

The cotton market today has been extremely quiet,
and prices are nominally the same as yesterday. The
sales—including 100 Bahias 90 to 9id, 50 Egyptian
121 d, 300 Surat 5d to Bd—are reported2,soo bales, of which
500 are on speculation and for export.

NEW ORLEANS.

Lexington
Chicora
Sebasticook
Levi Woodbury . 3773
Sultan

NINY YORK.
'William Tapaeott . 587
Henry Clay .
aurora
Sonthampton
Thorn.on . ..
Washington
Arctic

PHILADELPHIA.
Stalwart . .

CHARLESTON.

Madawaska
Alliance .

count ry and foreign were dull, and 2s per qr. less money
would be accepted. but millers have no disposition to buy
except in retail. Flour was difficult to quit, at 41s. Oats
were held firmly, with but few buyers. Barley, beans and
peas unaltered.