The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1853-03-15 00:00:00

THE LIVERPOOL STANDARD, TUESDAY, MARCH 15, 1853.

l• COMMERCIAL AND MONET.,4RY NE JJ 'S. I

MONDAY NIGHT.
THE monetary tide has at length turned, and the
returns of the Bank of England show an increase
in the stock of bullion- to the extent of nearly three
quarters of a million, and since the account was
made up several large arrivals of gold have been
reported, with the prospect of many more. The
funds have consequently advanced, and Consols
have gone beyond par, while there seems a general
feeling of confidence in the security of commercial
credit. It was stated in the House of Commons,
on Thursday, that the establishment of a mint in
Australia depended on the local authorities, and
that Sydney had already remitted £lO,OOO towards
the expense of sending out the necessary machinery.
This had puzzled The Times exceedingly, not as to
the right of a Colonial Legislature to place the
Queen's image on coined gold, but as to the effect
which a colonial supply of sovereigns will have
upon our home currency. Our contemporary con-
fesses to the seeming absurdity of transmitting
gold from Australia to London to be returned in
the shape of coin, thereby incurring the expense
and risk of two long voyages ; he admits the only
practicable remedy to be the establishment of a
mint where the gold is produced, but sees a further
difficulty in the hazard of having our own currency
disarranged by an inundation of colonial sovereigns,
when perhaps they are neither expected nor desired.
He seems to have been afflicted with the popular
error of supposing that any probable accession of
this element of our circulating medium can have
any more serious effect than stimulating industrial
activity, augmenting commercial enterprise, or
enhancing the value of real property.
The movement which we noticed last week as
having taken place in Manchester, in the agree-
ment to work the mills at short time for a limited
period, has partially bad the effect which was
anticipated, strengthened by the advices per
Niagara of continued large supplies on the other
side. We however adhere to the opinion which we
then expressed, that the fall in the lower qualities
of Manchester goods has been but the temporary
reaction from full activity, and that the spinners
have been purchasing as lightly as possible, in order,
by their influence
.on Liverpool holders, to replace
their stocks of raw material at lower prices. This
view is confirmed by a comparison of recent sales
with those of last year, when an apprehension of
limited supplies induced the manufacturers to pur-
chase more freely. Reports from other seats of
manufacture show a continued demand at fully
previous rates, and as nothing has yet occurred to
check the rate of consumption, we are the more
firmly convinced that Manchester is merely work-
ing upon the fears of Liverpool for her own
advantage.
The return from the Bank of England, for the
week ending the sth of March, gives the following
results when compared with the previous week :
Public deposits .. 7,312,751; Increase £250,622
Other deposits .. 12,622,301 ; Increase 224,758
Rest .. .. 3,617,702 ; Increase 370,366
On the other side of the account—
Government securities £13,464,53b ; Decrease £24,315
Other securities .. 13,401,220 ; Increase 475,006
Notes unemployed .. 10,086,030; Increase 423,760

_
The amount of notes in circulation is £22,275,870,
being a decrease of £285,820 ; and the stock of
bullion in both departments is £18,894,312, show-
ing an increase of £703,507 when compared with
the previous return.

Our SHARE MARKET has been pretty steady all
week, without any particular feature. With the
exception of a few quiet transactions of bond fide
operations there has been no business, there being
very little to tempt speculators either for a rise or a
fall at present. The business of this day has been
done at the prices annexed, the market closing
with a very heavy appearance :—Chester and Bir-
kenhead, 211 ; Caledonians, 321 ,15 ; Dublin and
Belfast Junction, 11 ip; Eastern Counties, 13 3-16
1; Lancashire and Yorkshire, 78* i; London
Stock, 120 119 ; Sheffield Stock, 30; Midland
Stock, 761- ; North British, 9 1-16 ; Dover Stock,
; York and North Midland, 29a ;
Lancashire and Yorkshire 6 pref., 15 1-16.
METALS.—The market for Scotch Pig Iron con-
tinues in a very unsatisfactory state. A weck ago
there were sellers at 515., without meeting with any
buyers, but upon the execution of a few orders the
market assumed more firmness, and was nominally
put up to 535., but subsequently relapsed into the
previous unsettled state. In Birmingham the pig
market is very dull, owing to the inability to work
up the immense amount which has been made
within the last few months. Tin has again advanced
£5 per ton. The last advance in copper has been
maintained, and there is a further tendency to
advance.

COTTON.—The large import during the week of
140,000 bales, added to the advices by Niagara,
which represented the receipts on the other side as
still being very heavy with declining prices, had a
flattering effect upon this market. Buyers operated
with caution, while some holders were anxious to
realise, prices consequently gave way to the extent
of fully id. per lb. from the rates of the previous
weeks. This decline was more particularly in the
lower qualities, Sea Island remaining unchanged.
On Saturday the sales amounted to only 4,000
bales. TO-DAY the advices by the America, which
were received in the forenoon, were looked upon in
a more favourable light for holders, as prices were
maintained in New York, though somewhat lower
in the southern ports, and the impression is gaining
ground that the yield of crop will not be in excess
of the demand for consumption. There was a
firmer tone, and the sales amounted to 5,000 bales,
of which about 1,000 were taken for export and on
speculation at fully the rates of Friday last.
WooL.—The imports during the last ten days
have been more extensive than for some time past,
owing chiefly to the contrary winds which have
prevailed, but still the market is very bare, and
prices for all descriptions are very firm, with an
upward tendency. Skin Wool continues very
scarce, and sells readily at extreme prices. Stocks
in growers' hands, of both English and Irish, have
not been so light for many years, and the new clip
just on is anxiously looked for by the manufacturers.
PRODUCE.—The demand for Sugar has conti-
nued good, with better prices for refining qualities.
Owing to the short supply of West India the sales
were confined to 100 hhds., but of East India
13,600 bags were sold chiefly at 355. 6d. per cwt.
In Foreign a very extensive business was done at
an advance of 6d. per cwt. on previous rates. The
sales amounted to 450 cases, and 11,000 bags Bra-
zil ; and 3,800 bags Pernambuco and 400 cases
Bahia were sold to arrive. In Molasses nothing
doing. Of Coffee only 230 bags St. Domingo were
sold at 455. to 46s per cwt. In Tea a considerable
business was done in the better kinds of congou,
and for common sorts there was more enquiry. For
greens there was a good demand at full prices. Of
Chicory 110 tons were sold at £l5 10s. to £l6 per
ton. For Rice there was an active demand, but at
lower rates ; and 8,080 bags Bengal were sold at a
decline of 6d. per cwt. Little doing in Rum. Of
Saltpetre about 1,600 bags, chiefly of fine quality,
sold at 295. to 295. 9d. for 3 and LI refraction.
Nothing doing in Hides. Ashes were dull. For
Olive Oil a fair demand at fully previous rates.
Sperm Oil in good demand at £9l to £93 per tun.
In Palm Oil but little doing, and the same remark
will apply to Linseed Oil and Spirits of Turpentine.
In Tallow a limited business at 455. 6d. to 465. for
Petersburg Y. C. On Tuesday, Jute was slightly
depressed, but it recovered on Friday, and sold with
spirit at full prices. The total sales were 1,850
bales at £l7 ss. to £22 ss. TO.DAY, owing to the
recent arrivals of plantation Sugar not being yet
upon the market, no sales have been effected, but
1500 bags East India have been taken, at 11s. 6d.
for Cossipore, 395. for Benares, and 355. to 365. for
Dates; 680 boxes Havana have also been disposed
of at 225. 6d. per cwt. Of Molasses, 100 puns.
Barbadoes, to arrive, have realised 19s. per cwt.
There has been rather more doing in Rum, the sales,
including Saturday's business, consisting of 300
puns. Demerara and 100 puns. Trinidad, the latter
to arrive, at about previous prices. The Tea market
continues firm ; blackish Hohows in demand at
Is. Old. to Is. ld., with not much offering ; common
Congous are worth 10d. to 10/d. per lb. 500 bags
Bengal Rice sold at 10s. to 10s. 3d. per cwt. for
first-class damaged.

MR. GRANTHAM'S HIGH LEVEL RAILWAY.—!A
numerous and influential meeting was held last night at
the Royal Institution, in Colquitt-street, to renew the
discussion on Mr. Grantham's scheme for it high level
railway along the docks. There were several plans and
diagrams both of this scheme and that of Mr. James
Holme, which Mr. Grantham attacked as being applica-
ble to one line of railway to the exclusion of others, and
a trade which did not exist. Having replied to Mr.
Newland's observations at the former meeting, he said
he was glad to see that the Dock Committee, while they
determined to have a line of railway round the docks, had
resolved to have a rigid enquiry into every plan before
adopting any. Mr. James Holme said he should
object to any large outlay until it had been seen bow the
scheme would work. He denied that his plan had been
brought forward for the occasion, and that his position as
a Director ',of the Lancashire and Yorkshire Railway had
anything to do with it. Mr. Brocklebank remarked that
the scheme might interfere with the erection of ware-
houses, which he thought of more importance to the port.
After 5Q1330 (gram discussion, the meeting separated.