The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-09-28 00:00:00

FINANCIAL AND COMMERCIAL SUMMARY.

The city capitalists appear to be under the impression.
that the pressure upon the money-market is about to de-
crease, and a slight rally in the price of the public sees-
rifles has been the result. A few more failures have taken
place—one in Liverpool, to the extent of £300,000; but
such cases, unlike those of houses in the same position as
Messrs. Sandersons, do not really affect the general tone
of our monetary affairs. Many more, similar failures of
parties who have speculated beyond their means, and out
of their proper business, are doubtless to follow. These,
however, will only affect the individual means of those
houses with who;❑ they have had business.
The real difficulty of our position, however, is only be-
ginning to show itself. Tied down, as we are, to the for-
tunes of the old lady in Threadneedle-street, the following
statement, which we extract from the city article of the
London Times of Saturday, is pregnant with matter for
anxious consideration :

" The return from the Bank of England for the week
ending the 18th of September, gives the following results
when compared with the previous week :
Public Deposits £8,749,178 Increase.... £583,396
Other Deposits 7,185,073 Increase.... 204,080
Best 4,020,878 Increase.... 20,874
On the other side of the account :
Government securities.Ell,636,34o thesanoeas before
Other securities .... 18,740,486 Increase 937,102
Notes unemployed .. 4,372,940 Decrease 193,635
The amount of notes in circulation is £17,932,465, being
an increase of £91,900; and the stock of bullion in both
departments is £8,880,400, showing a decrease of £34,582
when compared with the preceding return." -.
The decrease of the month, however, amounts to
£370,000. We have also to take into consideration the
probability, amounting almost to certainty, of epproach-
ing large imports of cotton and corn from the United
States. The forthcoming crop of cotton is set down as
lame ; and the result even of such an anticipation must
be the pressing forward of the stocks of last year, known
to be kept back. We have, moreover, no confidence in
the opinion expressed that the American farmers, will hold
back their immense stocks of grain.: Both must come for-
ward ; and they must be paid for principally hi bullion,
whilst. the state of the exchanges between this country and
America is not such,. or likely very shortly to become
such, as will attract much gold to this country. Upon this
subject the Manchester Guardian., of Saturday, contains
the following calculation, which is a tolerably cornet
statement of the case :

" Our attention has been called to a typographical error
in the calculations as to the rate of exchange at which gold
will begin to return to this country, which appeared in
our number of Saturday last. The price at New York of
100 sovereigns, at S 4 83c. was printed .8488 33e. instead
of 4483 33e. Corrected, the calculation will stand as
follows : -

Supposing the exchange goes to 110— 4r c,
£lOO, at 110 per cent. would produce.... 488 88
100 sovereigns, at =fi4 83c. (the New York
price), would cost
.. 483 33
Freight to Liverpool, I per cent
Commission and other charges, atl per cent 2 41

Cost, laid down in England 8488 15
So that it. would really require an exchange of above 110
t brine specie back.'

A still 'further contraction of the currency, therefore,
may be calculated upon, to take place in the course of the
next three months, which will severely try the stability of
commercial men.

Our cotton market is acted upon by the recent advices
from America, which hold out hopes of an increased crop,
and by the state of the money market. Prices this week
have declined N. per lb. for American, and id. for Egyp-
tian, Brazil, and Surat. The sales have been 24,700
bales, of which 2,000 were on speculation, and 3,200 for
ex port. _ _ _

The state of the Manchester market we give in the
usual place; and in addition we subjoin the following
extract from the circular of Messrs. Gibson and Ord, of
that town, dated 22nd instant :

" Our last circular gave you but a gloomy aspect of
affairs, and we regret now to be obliged to stare, that,
great as were the feelings of depression and apprehension
then existing, they have been fearfully aggravated by the
events of the past month. Failures to an enormous and
almost unheard-of extent have taken place, involving in
the aggregate an amount little, if anything, short of five
millions sterling. Under such circumstances, it could
not be expected that anything short of an almost total
suspension of business would take place, and that the
ordinary channels of discount would be closed, During
the present week, no further disasters have been reported
from London ; the funds show some improvement, and
generally there is manifested a better feeling. Still, se
great is the prostration of mercantile credit, and cor-
responding difficulty in obtaining money facilities, that
we fear many more suspensions must take place ; more
particularly, as in many cases the acceptances of the failed
houses will come back on parties whose resources are
abroad, and who will thus be unprepared to meet such
an emergency. The year will probably close upon us
without any very material improvement; the ordeal we
shall have passed through will have been so searching,
that our progress to a better state of things, marked as it
will be by the greatest caution, must be slow, but not the
less certain and continuous on that account. We have
many elements in existence calculated to produce this
change, and we look with confidence to its being brought
about, when the effects of undue speculation and over-
trading shall have passed away. The result of our har-
vest, and consequent reduction in the price of food—the
unproved end improving state of the exchanges, with the
almost certainty of an import of specie both from the
United States and the continent of Europe—the probable
increased supply of cotton—together with the enhanced
demand for our manufactures which must follow the
cheaper food on the continent, and to supply in foreign.
markets the deficiency's of this year's exports—all com-
bine to place our prospects in a very different position to
what they were at the same period of last year. To these
ingredients we hope at no very distant day to be able to
add that of a suspension of calla to a large extent for rail-
way projects, as this matter is now engaging the attention
of the mass of business men, and will, we think, be so
brought to bear as materially to lessen this incubus on
the commerce and industry of the country."
The corn markets throughout the country have declined
during the past week, and there seems every probability
of further depression. Undoubtedly prices are at this
moment held up by the fact that large stocks are kept out
of the market by various bankrupt firms ; and when these
come in, along with the imports which may be expected,
we look for very materially reduced prices of all descrip-
tions of bread stuffs.

The Bank Directors separcted on Thursday, after Cord-
ing to the decision of extending the minimum rate of 54-
per cent. interest to bills not exceeding two months. On
bills of more than two months, and not exceeding three
months, the rate of discount will be 6 per cent. The in-
creased accommodation afforded to the mercantile world
by this extension, has been, of course, very satisfactory
to the trading interests. In the general discount markets,
the rate of accommodation continues unchanged, and the
brokers and private bankers are in some cases rather ad-
verse to doing much business. Other discount houses
manifest more disposition to render assistance where they
consider they can safely do so.

The variations that took place in Consols last week,
amounted to nearly one per cent.—fortunately on the right
side for the fundholder, prices having advanced to that
extent. The market has, however, been far from steady,
owing to the aspect of political. relations, which stand in
anything but an agreeable position. For the last three or
four days the arrival of the continental mails has been re-
garded with extreme anxiety, the intelligence from Italy
and Austria, at this juncture, being of the highest impor-
tance. Had it not been for these considerations, the value
of most Stocks, under the beneficial influence of a calmer
state of things in the commercial world, would, we have
reason to believe, have yet further improved. Consols far
Money left off, on Friday night, at 86?;- to -, and for t'ie
Account at 861 to Exchequer Bills were not so gcol
as in the early part of the week.. They closed on Friday
at 4s. to Bs. pm.

Twn CRICKET MATCH AT KNOWSLEY.—This match
came off on Saturday between the Edge Hill Club and
the Knowsley party. The Edge Hill first took the bat
and scored SO. The Knowsley party then went in and
scored 59. The second innings was not quite so fortunate
for the Edge Hill gentlemen, the Knowsley side display-
ing much more activity than in the first innings. The
last wicket of tee Edge Hill gentlemen -being lowered,
Knowsley again went in, and after some fine playing, six
o'clock was called, and the stumps drawn, when the Edge
Hill claimed the game, as having been previously arranged
that should the second innings not be concluded by that
hour, the first innings should decide the game. The crack
members of the Edge Hill Club were selected for the
occasion, and the Knowsley party consisted of Lord Clive,
the Hon. Mr. Herbert, Leicester Pentrym, Esq.; Oswald
Pentrvm, Esq., Geoffrey Hornby, Esq., James Hornby,
Esq., the Rev. Mr. Abrahams, and four men in the
employ of the Knowsley family.
A BURIED WOMAN Am-vr. " Truth is strange,
stranger than fiction,' and the following story is not
more extraordinary then true:—Two or three weeks ago
the daughter of an old soldier, who resides in Miller-street,
in the north-eastern part of the city, was seized with
fever, and was conveyed to one of the hospitals. The old
man, of course, made frequent inquiries at the hospital as
to the progress of the disease, and was pained to learn, on
every visit, that his daughter was gradually getting worse.
At last lie received. the melancholy information that she
was dead. The necessary arrangement& were made for
the funeral, and the body was interred in Sighthill Ceme-
tery, on Tuesday of last week. On Tuesday last, while-
tlie mother of the buried woman was engaged in her
usual household avocations, the door slowly opened, and,
lo I there entered, pals and emaciated, the figure of her
dead daughter, which uttered the word "mother." "Ye
canna get in here—ye enema get in here!" exclaimed the
of mother, "your father buried you last week."
And having thus endeavoured to- lay the ghost, fainted.
Osni
tcoormsiitntgingtoi
nh
thee senses,
hoti she rushed
yienbtulriedsalmaset
rtsheerrividngoallesutaniwrsetleno thenle
vi
xd
caluagi mh
teed;
workshop of he: husband,
,antalhee
voice of extreme terror, Oh,
and she went off in another fit,
v
'or and surprise dropped the im-
weheilk e is
the s i tt in g
husbandup sitnaitrcs7 l'
Elements of his craft, with which at the time he was en-
gaged. When the old couple had recovered a little self_
possession, neighbours were called in, ,the haunted house
• was entered,ve'd there sat —not an intrusive, ill-I.re].
ghost, but the veritable daughter, pale and thin, but as
truly in life as ever she was. Here was a mystery not
easily to be solved at the moment, but subsequent in-
'quiries showed that the-daughter and an Irishwoman of
nearly a similar name lay in the hospital next bed to each
other. Hence the mistahe of the father, being misin-
formed as to the state of his daughter's health ; and
when the Irisliwoman died her body was given to the
supposed father, and,•frem the circumstance of the viru-
lence of the disease, intaTed viidleut
Gleagote ExatraiAer.