Northern Times.
Liverpool, Merseyside, England, 1857-12-21 00:00:00

THE NORTHERN TIMES. LIVERPOOL, MONDAY, DECEMBER 21, 1857.

MONETARY AND COMMERCIAL.

LIVERPOOL, Saturday Evening.

There was a much better demand for Cotton to
day, ani prices, under the inflaenoe of the improved
position of the Bink of England, have improved
from ji to 2„ per lb. The sales were fully 10,000
bales, one-half 1- Bing on speculation.
The Liverpool Share Market was much. more
buoyant to-day, and prices shows a considerable
advance, with a good business doing. We notice
sales as follows : --Birkenhead, Lancashire, and
Cheshire, 70; Blackburn, 9 9-16; Caledonian,
401, 404 ; Eastern Counties, 111; East Lanca-
shire, 91 ; Great Western, 53; Lancashire and
Yorkshire, 93, 03k. 931 93-,1.; Liverpool, Crosby,
and Southport, 16t1,-; London and South Wes-
tern, 96, 961, 9IL 96$ ; Manchester, Sheffield,
and Lincolnshire, 391, 391 392, 39a ; Midland, 882,
88i; North Eastern, 24; York Capital Stock, 411 ;
North Staffordshire, 3 7-16 d ; Dovers, 202-.
202, 202-, 201, 201 ; Dutch Rhenish, 41, 51 d ;
Grand Trunk of Canada, 105, 102, 108, 10f- ; Great
Luxembourg, 75; Cupiapo Mines, 5 d; Bank of
Liverpool, 22.
There is a marked improvement in the Money
Market, and 9 per cent. is the currant charge for
first class bills in Lombard-street. Owing to the
satisfactory Bank return, it is thought that an
official alteration in the rate cannot be delayed be-
yond next Thursday. The Bankers' Circular of to-
day makes the following remarks on the state of
the market.

During the last week the improved state of the Bank of
England has been so generally anticipated that the Roney
Market has assumed a vary decided improvement ; this
opinion has been confirmed by the Gazette returns, pub•
lished last night, by which it will be found that the stock
of gold coin and bullion has increased by £1,381,366,
making a total of £9,450,855 in both departments, which
closely approaches the amount held by the Bank on the
Bth of October, when the rate of discount was raised to 6
per cent., the total at that da'e being £10,109 943. Ex-
pectations have been raised in some quarters that the
Bank would have reduced its rate on the strength of these
returns ; but they cannot have been founded upon a know-
ledge of the actual position of the Bank under the Indem.
nity Biil, which gives to it no security, except on the con-
dition of maintaining the minimum rate of discount at 10
per cent. If the sum granted under the Treasury letter be
withdrawn from the Bank, the progress of its condition
since that measure was adopted, will nave been as under :

Gold Coin and
Bullion.
Nov. 11. Notes in Reserve........ £957,710 £7,170,508
18 Legal issue exceeded 851 815 6,120,096
25. Do. Do. .... 81.160 7,263:672
2. Excess of £2,000,000 .... 268,340 7,356,457
9. D 3. Do. .... 1,900,485 8,069.489
16. Do. Do. 3,757,175 9,430 855
It will be seen that the Bank exceeded its legal issue
only two weeks, and that the highest amount of excess
was less than a million. It has now returned to its
normal condition ; but considering the state of public
feeling, and the unsettled condition of commerce, the margin
of notes represented by the last return, is not
sufficient to enable the Bank to throw off the protection
of the law, by reducing its rate of discount below ten

per cent. It is true that the pressure on the Bank's
resources has greatly diminished, and bills are discounted
below the Bank rate from one-half to one per cent., yet it
would produce an indescribable confusion in the
monied and commercial world, were the Bank to place
itself again under the necessity of appealing to Parliament
for protection. The Bank of France has '3 qualised its rate
of discount once more to six per cent without distinction,
which will produce a beneficial effect, for there were
already symptoms abroad that the commercial classes of
that country must give way under the recent heavy rates
Failures of considerable magnitude amongst our own
merchants and manufacturers still continue, several of
whom manifest in their accounts the extreme pressure upon
their resources, and the depreciated value of produce and
securities of all descriptions forming a sad contrast to that
boasted prosperity, which Government have so long pro-
claimed through their several organs, NI hen referring to our
foreign commerce.

The Market for the Public Funds and Securities
has been rather buoyant to-day, and prices are
much firmer than yesterday. Consols closed at
92-1, to 921 [ln to-day's paper Consols (new)
quoted as being closing on Friday
,at 914 to 91i
It should have been at 924 to 921 ]
The following list shows the fluctuations in
Consols during the past week :

Lowest Highest Closing
prices. prices. pricer.
Monday Money "... 921 921 921
Account ...91i 91- 917,

Tuesday Money ....shui --
Account ....91f 91i 91i
Wednesday . Money ....shut -- --
Account ....914 91/ 91
Thursday Money .... 92i 92t 94
Account ....911 914 911
Friday ~ Money ....shut -- --
Account —...914 92
Saturday Money ....shut
Account ....92

In the London Railway Share Market there has
been a good business done to-day, and prices show
an advance of about 1 per cent. The following
were the closing prices :-Ambergate, Nottingham,
Boston, and Eastern Junction 44, 54 ; Bristol and
Exeter 86, 88; Caledonian 801, 81 ; Chester and
Holyhead 33, 34; East Anglian 174, 18; Eastern
Counties 581, 591 ; East Kent 17, 18 ; East Lanca-
shire 90, 91 ; Edinburgh and Glasgow 534, 591 ;
Edinburgh, Perth, and Dundee 271, 284; Grea'
Northern 96, 97 x d ; Great Western 631 ;
Lancaster and Carlisle 74, 78; Lttneaslitre and
Yorkshire 93, 931; London and Blackwall 51, 6 ;
London, Brighton, and South Coast 104, 105 ;
Loudon and North Western 96, 961; London and
South Western Q 3, 94; Manchester, Sheffield, and
Lincolnshire 39, 40 ; Midland 884, 89 ; ditto Bir-
mingham and Derby 62, 64; Norfolk 58, 60; North
British 49, 50 ; North Eastern-Berwick 941
951; Oxford, Worcester, and Wolverhampton
30, 31 ; Scottish Central 104, 106 ; South
Eastern 68, 69; South Wales 78, 80 ; Buck-
inghamshire, 90, 92 ; Hull and Selby, 104,
106 ; Eastern Counties Extension, 5 per ceet.
No. 1), 105, 108 ; East India Guaranteed, 5 per
cent., 108, 109; Geelong and Melbourne Guaranteed
5 per cent., 18, 19 ; Grand 'flunk of Canada, 41,
42; Great Indian Peninsula Guaranteed, 5 per
cent, 211. 211; Great Western of Canada Shars,
181, 19 ; Madras Guaranteed, 4$ per cent, 181, 191;
Scinde Guaranteed, 5 per cent., 11 2 pm. ; Eastern
of Franco, 264, 204- ; Great Luxembourg Con-
stituted Shares, 7, 74 ; Lyons and Geneva, 25, 26 ;
Namur and Liege 6 per cent. pref., 19, 20 ;
Northern of France, 374, 371; Norwegian Trunk
Preference, 8, 9 ; Paris, Lyons, and Mediterranean
Fusion sharos, 33k, 332- ; Paris and Orleans, 51,
53 ; Royal Danish, 131 151 ; Sambre and M,-,rKe,
7, 71 ; Southern of France, 211, 213 ; West
Flanders, 44, 4.4.
Respecting the Mining Market, the Mining
Journal of to-day says :-
The Mining Share Market has shown rather a healthier
tone this week; still the amount of business transactions
has been limited, for parties seem to have little disposition
either to buy or sell just now. Wheal Basset shares have
been in demand at 140 to 145, and South Basset at 5
Copper Hill shares in request at 175 to 200, Condurrow •
fiat at 90 to 95, Wheal Edward 6;.t- to 61, Wheal Mary
Ann 451 to 464. Trelawney shares have been inquired
after at -231 to 241, Wheal Wrey 51, South Frances, 225
to 230, South Tolgus 110 to 120, Clijah and Wentworth in
demand at 41 to 5, Great Alfred 4, Wheal Grenville 14,
West Grenville 4s. 6d. to 58. 63 , Great South Telgul 141
to 15, South Caradon 340 to 350, Devon Consols 425 to
435, Kelly Bray 14, Pendew shares have been much
inquired after at 34 to 31, Wheal Margaret 44,
Grambhr and St. Aubyn 82.. to 85, East Basset 92 to 94,
Herodsfoot 61 to 7, HingstonjDown 4 to 44, Bedford United
6to 64, Redmoor a to 4, Rosewarne 25, Tolvadden
inquired after at 6 to 7, Alfred Consols 13 to 14, East
Alfred 2 to 24, Weet Alfred 30 to 32, Wheal Kitty 15 to
17, North Crofty 4, North Frances, 91, West Frances 15
to 171, Pednandrea A, West Basset 22 to 23, North Bassett
12 to 121, Cwn Erfins 51 to 6, Lady Bertha 18s.
The Imports of Specie this week were rather
large, viz. :-By the Bellona, from Constantinople,
4 cases 2 groups specie; the Belgium, from Ostend,
1 barrel bullion ; the Soho, from Havre, 3 boxes
specie ; the Triton, from Boulogne, 12 cases bul.
lion ; the Niagara, from America, 803,542 dole, or

160,700/ ; the Tyne, from the Brazils, 7,3801; the
Ariel, from America, 20,000 dols, or 4,0001; the
Symetry, from Adelaide, 822 begs silver lead ore ;
the Centurion, from Sydney, 107 ozi gold and
10,000 sovereigns, or 10 4001; the Holland, from
Ostend, 1 barrel bullion ; the Amazon, from