Northern Times.
Liverpool, Merseyside, England, 1857-08-17 00:00:00

MONETARY AND COMMERCIAL.

LIVERPOOL, Saturday Evening.
A very corfident feeling influences the Cotton
Market. Holders, though supplying the market
pretty freely, ask and obtain extreme rates. The
sales to-day were 8,000 'bales, including 2,000 on
speculation and for export.
In the Liverpool Share Market there was a fair
business done to-day, at rather better prices.
The aspect of the Money Market was rather
better to-day. There was a decidedly less demand,
and terms are generally a fraction under the official
minimum. There were symptoms last week of an
increased demand ior money, which continued to
he manifested up to Monday and Tuesday last,
but fortunately since that period the inquiry has
considerably slackened, and the discount
hdtises are again negociating mercantile paper
about 8 to I per cent. below the Bank
minimum. Occasional withdrawals from the
Bank take place to supply the means for
silver purchases on the Continent ; but there have
been, at the sam3 time, amounts received from Aus-
tralia, America, and Africa, a portion of which have
f.mnd their way into the vaults of Threadneedle-
street, so that on balance no large draught has been

experienced. It was not, consequently, anticipated
that the directors, at their ordinary weekly meeting
on Thursday, would take any measures for modi-
fying the rate of discount, and their sitting was
less protracted than usual. One circumstance,
which has tended to ease the Money Market, and
to give confi lence, to the dealers in securities, is
the release of a portion of the 1,125,0001. paid to
Messrs. Hambro, the agents of the Danish Go-
vernment, who, it is stated, have employed upwards
of 300,0001. in the discount of long-dated paper at
the Bank rate. A further considerable sum will,
it is believed, be used in a similar manner, and,
therefore, the expectation has induced the bill-

brokers and others to give g: eater facilities to their
customers. It will also be remembered that the
railway and other dividends are now in course
of distribution, and as the supplies of capi-
tal from this source will tend materially
to increase the floating balances in the market,
there is some hope that, if no further reduction
takes place in the Bank rate, there is, at all events,
little probability of any fresh advances Owing to
the encouraging accounts of the harvest, and the
statements that the quality is above the average,
there is an impression that comparative easiness
will exist for the next two or three months ; and
the announcement of the Chancellor of the Ex-
chequer that no loan will be immediately required
for In lia hits abated part of the alarm which was
previously exhibited with respect to any proposals
for providing a sum ranging from 8,000,0001. to
to 10,000,000/. In the current state of affairs,
therefore, the Money Market may be considered
to present satisfactory features, and although it is
difficult to predict what will. be the ultimate course
of events, the public appear more sanguine than
of late. The Bankers' Circular of to-day makes
the following remarks upon the state of the Money
Market :
The Money Market during the week has been almost
entirely governed by hopes and fears about India, and in
the early part of the week the Stock Market was very
heavy, Consols falling on Wednesday as low as 89,; the
deliver; of letters from India yesterday created more con-
fidence, and prices gradually rose until an improvement
of a half per cent, was established ; to-day a further ad-
vance has taken place; but as there is no certainty about
the time Delhi may probably hold out against the British
forces, the market has experienced only a temp ,vary ad-
vance. The news by Bombay not having arrived has
given rise to considerable disappointment and incon-
venience, though it may arrive in the course of today.
In the City there has been an easier feeling, and in some
few instances we hiar of commercial discounts being done
at a fraction belew the Bank rate, though 51 is the geaeral
, -- rate. The attention of the railway community has been prie-
-.
4,221 I cipally fixed upon the shares of the Great Western, which
eel
declined yesterday to 51, or 11 to 12 per cent. Tne
returns of the Bank of France and England exhibit a
farther decrease in bull'on ; but in the latter the amount
is very trifling, while in the former it is £683,890, not-
withstanding that p•emiums on the purchase of gold
amount to upwards of £12,000 during the month. The
Bank has also an item, for the flist time, showing that
32,300 francs had been advanced on the security of the
obligations of the Credit Foncier, in accordance with the
new law of the 9:h of June last. This change introduces a
new element into the Bank in relation to its advances ;
these obligations or bonds being issued on the loans granted
by the Credit Foncier, the mortgages on land in France are
made transferable. An active trade continues in the
precious metals, and silver has fully maintained the recent
advance in price. Same expectations are entertained that
the demand for the East will be diminished ; but in looking
at the wide extent to which our transactions are carried on
in that direction, we fear that there is but little hope of
any speedy diminul ion in the demand.
The Market for the Public Funds and Securities
was animated to-day, and an advance of g to 3 per
SUMMARY.—Receipts—Decrease at the ports, compare, cent realised. It is evident that there is a strong
with last year, 576,000 bales; compared with 1853, disposition to speculate for a rise, and those who
310,000. Exports—decrease to Great Britain, 512,000; recently operated in a contrary direction are now
compared with 1853. 303,0C0 bales, Decrease to France, sanguine of a higher range of prices The investing
69,000; compared with 1853, 13,000; decrease to other public, also, who, perhaps, have been deterred from
foreign ports, 112,000 bales; increase compared with 1853,
56,000 bales. W. P. \Valour. purchasing by the late unsettled condition of the
BREADSTUFFS.—The market for State and Western Flour the market, are eagerly coming forward, under the
is firm, with an increased demand fur good qualities. Southern impression that there will nut be a more favour-
is very heavy for the higher grades, owing to the increased able opportunity for some time to buy at the
reee'pts of new in addition to the new Rialto already noticed, present reduced quotations. The easier con-
there is new flour from the flop-, Grey Eagle, Phce six, North dition of the Money Market, also, has exercised
.Side, and Richmond City Mills, all at 9 slots 25c. The latter some influence, but the improvement is chiefly
swshaeantew bverrynd,andof beautiful colour, made from prime white
carefully ground, ani put up in fine order, and is attributable to the expectation that better news
a great acquisition to the assortment. It has been sold at will soon be received from India, and also to the
9 dole 25c. to 9 dols 50c., anti has given excellent sathf tction recent announcement that no immediate pecuniary
It is made at Richmond, and will he known by the name of. assistanceany. will be required by the East India Corn-
" Richmond City Mills." Canadian Y p
Flour is steady, at 6 dole The Bank of England Return had no effect
25c to 6 dols 40c for superfine, and 6 dols 80c to 8 dols 75c whatever upon the market, and the unfavourable
for the range of extra brands. Wheat is a little firmer for weather, although it may have excited some appre-
prime new, which is taking for milling as fast as offered ; but hension lest the result of the harvest might be
old is heavy and lower. Red Southern, at 1 dol 40e for in- prejudiced, did not impede the upward movement.
ferior, 1 del 70c to 1 dot 77c for good to prime; white, mostly Consols for transfer were 90,1 91k. and afterwards 911
at 1 dol 8,5 c to 1 dol. 9)c for good to prime, btr including an 911 ; while for the Account they were 913, 91f 91i,
an invoice of common at 1 dol 721-c ; mixed Wisconsin, and 911, and 91Z, 9112. After the official hours they were
Illinois, 1 dol 65c. Indian Coin is 1 to 1 cents lower; el 7.16 elie The New Three per Cents advanced to
Sound Mixed Western opening at 88 and closing at 87 cents.
is dull at Bc. Domestic is unchanged.
HE UP : Manilla 911,, 9.11, the Reduced to 91*„ 912-d ; and the Long
We notice that about 1,000 bales of Russia is to be reshipped Annuities were 2 7-16 Exchequer Bills were Is
higher, viz., 4s discount to par, and the Bonds were
to Liverpool.
BIM : The market is quiet, and we do not hear of any 98i. About 14,000/1n gold was taken from the Bank
sales of moment. 700 Tris, 25ibs, at 25c, six months, as of England yesterday.
they run; 1,500 Chili, to arrive, and 780 Chagres, both on The following list shows the fluctuations in Con-
private terms. sols during the past week :
II P.; : There is very little doing, although prices are Lowest Highe't Closing
steady at 7to 9 for Eote r n , and 9to 11 for Western. After prices. prices. prices.
Monday Money ..... 901 901 901
an interval of five weeks, in which we have not had a single
Account _904 906 90-P-,
hale reported export, we notice that 100 bales have cleared for Tuesday Money .... 89Z- 550889 i
Hamburg.
Account ....90} 90-1 90;-,
IRON : Scotch pig is quiet and steady at 30 dots to 31 dots Wednesday Money .... 891 90 8 i
six months. Bars are in good demand ; sales of common at Account ....90i 9077 901
53.dels 50e to 55 dole, six months ;25 tons hoops brought 77 Thursday Money 891 90 891 dols 50c, six months. Other descriptions are scarce and in ....
Account ....90 90* 901
fair request.
, .... 1 q
Nievee &roars : There is an improved demand for Friday --Money 90/ 90 9(
spirits turpentine, and we notice sales of about 700 brie at 91
Money 904 91
Account .....907 91 901
. .... ,1 1
46 to 47 cen s the market closing at time latter rate. Com-
Saturday
men rosin is selling in small lots at 1 del 90c per 310 lb', and Account ....914 911
94,-,
at 1 dot 82tThe London Railway Share Market was much
g e to 1 del 85c. There continues to be a
good
demand for fine rosins, and choice grades aro firm at 7ao's more active to-day, an:l a decided improvement
per 280 Me. Tar is still quiet, ' took place its prices. Caledonian rose i, Eastern
OILS : Crude whale oil is quiet and firm at 72 to 74 cents, Counties about i, Great Northern 1, Great 'Western
a-cording to qualil ; manufactured ditto is held with more (in which there were numerous dealings) 1. to LI
(Irmness, and the demand is also on the increase; we quote Lancashire and Yorkshire ke South Western 1,
spring and summer wt 20c to 83c ; winter bleached 86e to 88c. North Eastern (Berwick) li, Ditto Leeds i, Oxford,
Crude Sperm is steady, with sales in New Bedford of 1,:00 'Worcester, and Wolverhampton, 1 to 2, South
bits for home use at I dot 2.5: to 1 del 26c. Manufactured Eastern 1, and Vale of Neath about k. After
ditto is in fair request, and is quoted at 1 del 3.5, for summer, official hours prices further advanced. Brighton
1 dot 40c for spring, and :1 (lel 45c to 1 dol 35c for winter shares, however, were rather flat. East India
natural and bleached Linseed oil has farther advanced, 3,nd shares are also at reduced rates. East Indian s
's buoyant:at 77c to 78z. ruled as high as 101 to 102, &eat Indian Penin-
Paovlsious : Pork is buoyant at 24 dots 30c to 24 do's 1
a rose 1, and the others, including the Madras,
33c for mess, and 19 dole 50c for prime. At the e 0 3C mess su
was held at 24 dole 50c ; prime mess is nominal at 20 do's to Punjaubs, and Eastern Bengal, were also firmer.
20 dots 25c; clear, 25 do's 75c to 26 dots. Beef is in good Canadian Securities were well maintained, but busk
demand at improved •pee 3, 16 dole 50c to 17 dole 50c fir re-
ness was quiet. The following were the closing prices;
packed Western, and 2.8 dols to 19 do's for extra mess, —Ambergate, Nottingham, Boston, and Eastern
Prime mess is firm at 30 eels; we notice also sales of Indian ! Junction, 54 51 ; Bristol and Exeter, 88, 00,
mess 4.S 32 iota. See 4teis .are dull at 23 dais ~50e tc 23 dots Caledonian, 74, 78'4 ; Chester and Holyhead, 35,

COMMERCIAL INTELLIGENCE.
NEW Yonx, August 5.
VONRTARY AFFAIRS : There is an increased demand for
Money, and the turn of the market is in ftvour of the lender.
We quote :—Loans on call, stock securities, 6 to 7 ; do., o her
good securities:7 to 8; prime endorsed bills, 60 to 90 days,
8 to 9 ; do. 4 to 6 months, 9 to '9l; ; first-class single signa-
tures 9 to 10 ; other good bills, 12 to 15 ; names less known,
15 to 18. Foreign Exchange is moderately active at 109 k to
1091 for leading bills at 60 days on London ; 1102 for sight
do. We take the following from Marie and Kauz's circular,
just issued :—Since our advices of 27th July, the Stock
Market has been less active, and speculative secutities,
influenced by the dullness, have generally experienced a decline.
Investment securities have not varied much, but on the whole
quotations are lower. In the meantime the Money Market
grows daily more easy, and loans on call have, in several
instance=, been made at 6 per cent. The specie in the Sub-
Treasury amounted to 11,996.667 dots on the 31st July,
against 10,260,037 dots on the 30th June—making an increase
of £1,736,630 doll for the first month since the operation of
the new tariff. The increase for July, 1856, was 1,735,560
dots, with a b tlance at the close of the month of
12,265,402 dole. The payments for duties in July, 1857, were
7,049,182 do;s, against 5,510,391 dole in July, 1856
increas.r, 1,538,788 doll. Money quite easy. Oa clll, 7 to
6 ; firer-class paper, 8 to 9 ; names less known, 9 to 10 ; Stock
con'racts, 6to 8. Exchange without much change ; transac-
tions moderate.

COTTON.—The market is g better, with a pod demand.
The sales t:1-lay are 1,200 bates, incluling 500 in transit.
The sales for the last week are 8,000 bales, of which 3,000
were in transit. We quote—

N. Orleans

!,751,000j2,811 0 ) 0
1,480,000'1,536.000
407,000 337,000
276,006: 331,000
!,163,0062 2C4 000
149.000, 181,000