The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1838-03-06 00:00:00

i'VrAncia 6, 1838.

COMMERCIAL INTELLIGENCE AND MONEY

MARKET.

(From the Sunday Times.)

CITY, SATURDAY.—The inland navigation of the country
having been resumed by the absence of ice in the canals, an
increase has taken place this week in the transactions in ma-
nufactured goods, almost solely confined, however, to the sup-
plies for the home trade. There were large amounts of all de-
scriptions of manufactures locked up in the canals, which. were
ou their way to the metropolis, the detention of which, by the
suspension of the traffic, led to many very serious inconven-
iences. It is satisfactory, however, now to state, that business
is renewed with double energy, and the prices of most of the
more important description of manufactures are on the advance.
The speculations which have been, however, in progress, in
some articles of raw produce, especially silk, is likely to prove
prejudicial. as the present high rates—and they are equal to
those which have hitherto been realised—check the operations
of the manufacturer, who cannot yet obtain prices for his goods
anything equal to the advance demanded for the raw article.
It will hardly be possible, however, to keep up the value of cot-
ton wool, the imports from America being very great indeed.
We incorrectly stated the amount of the exports from the United
States in our last week's summary. The shipments up to the
Ist ult. from the United States, had amounted to nearly 375,000
bales, which rather exceeds the quantity.
.dispatched off up to
the same period, 1837. The general export trade of the country
has rather improved, especially to the more northern parts of
Europe. In the United States, manufactured goods are still
in heavy demand, and it is, therefore, now considered certain,
that no very material revival in this important branch of the
country's commerce will take place until the end of the year.
There may, however, be some considerable shipments made
shortly for the fall trade of the United States. The doubts
which still exist as to the possibility of the banks of the Union
returning to specie payments—upon which so materially depends
a return to a bealty state of things in America—necessarily in-
duces our merchants to exercise extreme caution in all their
operations. One of the most recent papers received front New
York, in reference to the specie payments, observes as follows:
"The Committee from the banks of New York, who visited
Philadelphia last week, have returned. We are not furnished
with the result of their deliberations ; but this, we believe, that
notwithstanding the talk in New York about specie payments,
they neither can, nor wish to pay specie. How can they ?
There are payable in New York within about sixty days, four
millions of dollars in bonds. Now if the general government
will only take specie or treasury notes, how are the New York-
ers to meet that payment, which is nearly equal to all the specie
of that state ? When people talk about resuming specie pay-
ment, let them think a little of the causes of suspension, and of
the ruinous consequences of re-suspension. While the govern-
ment persists in its war upon the people by the demand of
specie, it is impossible for any one to say when specie payments
can be permanently resumed."
The returns -relative to the stock of the principal articlesof
West India produce for the month which terminated yesterday,
show a considerable reduction in the amount of produce in hand.
Of sugar, there was at present in first hands only about 10,000
hhds., and 700 tierces, or full 7(X)0 hhds. and tierces leas than
at the same period of 18,37. Of Hum, the present stock may be
estimated at not more than 7500 puncheons, and 900 hhds.,
being less by 4,5(X) puncheons and 900 lairds. than at the com-
mencement of the month of March last, Of British Planta-
tion Coffee the reduction has been from 400(.) casks, and 'l3OO
bags and barrels, in the end of February, 1837, to 1700 casks,
and 850 barrels, and bags at the termination of the past month.
There is, however, a considerable increase in the stock of fo-
reign sugars and coffees on hand as compared with the quanti-
ties held at the same period of 1837.
The funds have agaip further advanced this week, the specu-
lators for higher prices having been much assisted by the reso-
lution of the Bank of England to reduce the rate of advances
upon approved security, to 31- per cent. This determination
was communicated to the public on Thursday, when the follow-
ing notice was sent to the Stock Exchange.
"The governor and company of the Bank of England do
hereby give notice, that on and after the Ist inst. they will be
ready to receive applications for loans upon the deposit of ap
proved Nils of Exchange, not having more than six months
to run, such loans to be repaid on or before the 16th of April
next, with interest at the rate of 31 per cent. per annum, and to
lie for sums of not less than £2OOO, Bank of England.—March
1., 1838."

This determination of the Bank was known on Wednesday
afternoon, when a rise of about % to 1 per cent. took place in
Consols. The effect of the reduction of the rate of interest to
31 per cent., will not, however, much assist the resources of the
Bank, as the same accommodation can be obtained in the city
generally, at least one halt per cent loner. The value of Bank
Stock, however, has advanced from '‘o6 to 2071. Upon Con-
sols, and the other public securities, the improvement this
week may be stated at %. per cent. Consols for the April Ac-
count reached 931 Yesterday ; for money 93% ; the 31 per
Cents. Reduced 1011; and the New Stock 100%; and India
Stock 2651. The prem. upon Exchequer bills has also risen
from 54 to 63; and on India bonds from 55 to 63 prem. The
arrangement of the Accouot in Consols took place on Tuesday
last. The Bulls have had in this instance the advantage over
the Bears.
The prices of Foreign Stock have not materially changed this
Week, though in general much buoyancy has prevailed, the na-
tural consequence of the state of the other markets. The quo-
tations of the Continental securities were very firm—Russian
has advanced to 1 i3l; Danish to 751; Belgian to 1031 ; and
Dutch 5 per Cents to 1031. The speculation in
.Spanish and
Portuguese Stock has increased this week, but there are stilt
few hopes of any improvement in the state of affairs in Sliain or
Portugal. The prem. of the latter (5 per Cent) has risen from
271 to 271; the 3 per Cents from 18 to 181; and of Spanish
trotn 194. the Republican Stocks have been also in
good request; Mexican at an improvement from 29 to 291;
Colombian from 26 to 294; and Peruvian from 20 to 204
The Share market is still rising. The business doing has
been so extensive, that it is not possible within the limits usually
devoted to this article, to detail all the fluctuations. The high-
est prices which have been given are the following—in the Lon-
, don and Birmingham 170 or 90 prem.; for the Brighton 131 or
54 prem.; for the Great Western 94 or 291 prem.; for the
Southampton 43 or 8 disc.; for the Leeds and Manchester 40
or '2O prem.; for the North Midland 41 or 9 prem.; the Black.
wall 74 or 4.1 prom.: the Greenwich 19 or I disc.; the Northern
and Eastern 6 or '2 disc. ; and the Manchester and Birmingham
12 or 5 prem. The Irish Waste Lands IMprovement Compa-
ny's shares have been in request at 4, or about 4 disc.; Lon-
don and Westminster Bank shares have risen to 224 or 24
prem. ; Colonial Bank to 254 or 1 prem.; and British North
American shares to 191 or 4 disc, for share.
We are informed that Mr. Jaudon, the agent of the United
States Bank, has received instructions to anticipate the paying
of the Bonds in circulation here issued by the Bank, and which
were redeetrable in April next. Parties disposed to receive
their money may do so, with the deduction of interest at the
rate of Three per Cent.; the Bonds have been quoted at 2544.
TWELVE o'cLocx.—Not much business has been transacted
in the Funds. Consols for Money are worth 934; and for Ac-
count, 23g. The Money St cks are most of them shut, prior
to the payment of the dividends. Exchequer Bills and India
Bon Is both fetch 63 premium.
In the Foreign Bond market Portuguese now are at 274;
Spanish Consols at , 191 • Brazilian at 76; Colombian at 294;
2
and Dutch Two-and-a-Half per Cents at 531.
Shares remain much the same as yesterday- Great Western
are at 281, and the Brighton at 4j premium.