The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-09-07 00:00:00

FINANCIAL AND COMMERCIAL SUMMARY

The announcement by the Bank of its ability to ad-
vance upon stock and securities at £5 per cent. gave a
firmer tone to the money market in London on Thursday,
and prices of Consols advanced slightly. A further ground
for confidence was the fact of the bills of Messrs. Prime,
Ward, and Co., previously refused acceptance by Messrs.
Overend, Gurney, and Co., upon whom they were drawn,
Laving been honoured through the mediation of friends
of the former firm. As a proof, however, that something
more is required to restore confidence, on Friday prices
declined, a sale of £lOO,OOO at 884- being sufficient to
damp the feeling of the dealers. The uneasiness created
by the threatening aspect of our foreign relations, and a
demand for money to meet the seventh instalment of the
Irish loan, contributed to the effect noticed. Bank Stock
left off on Friday at 1951 to 1971 ; Reduced Three per
Cents., 88; Three-and-a-Quarter per Cents., 891 to I ;
Long Annuities, 9 to 1-16th ; India Bonds, ss. dis. to
par ; and Exchequer Bills, 3s. to 6s. pm. Foreign Secu
rities closed less buoyant than at the beginning of the
day.

On Saturday the Stock Market was firm. Consols for
Transfer on Tuesday were up to 87a to -a, and for October
88 to ; the New Three-and-a-Quarter per Cents. were
894 to 4-; Bank Stock was 197, and India Stock 241; the
Unfunded Debt was 3s. to 6s. prem. The Foreign Secu-
rities were merely nominal ; and, although the accounts
from the Peninsula seemed to be more satisfactory, they
did not stimulate business. Portuguese Four per Cents.
might be called 241 to 251, and Spanish New Three per
Cents. 291 to 301. Mexican Stock was marked 181 to
194. Brazil Bonds were at 83 to 85. Dutch Four per
Cents. were 894. In Railway Shares the transactions
were moderate in amount.

Further failures amongst commercial men continue to
occur, amongst the latest of which are two firms of this
town, and Mr. A. Roux of London, an extensive shipper
of manufactured goods to Valparaiso, whose liabilities are
put down at £lOO,OOO. Some Continental failures have
also been announced one in Paris to a considerable
amount. A failure has also taken place in Greenock—
that of Messrs. Gray, Roxburgh, and C0.,--which, how-
ever, is not extensive ; and one in the north of Ireland,
names not announced. It is anticipated that, owing to
the great reduction which has taken place in the prices of
breadstuffs since the shipments coming forward from the
United States were made, many of the bills drawn against
them will exceed the value of the article shipped, in all
which cases, where the houses drawing them are not of
undoubted credit, the bills will no doubt be sent back
dishonoured. Many of these are remitted to cover orders

arther Inc

ase the depression felt amongst the manufac-

turing body

As connected intimately with the present state of com-
mercial affairs, the following statement, shewing the pre-
sent position of the currency, as compared with its posi-
tion at the same period last year, will be of interest :

. .
Aug. 15, 1 Aug. 14,
I Incr. Decr
1846. 1 1847.

Bank of England. 20,603,010 18,784,890
Private banks . 4,363,076 4,258,380
Joint-stock banks 3,061,279 2,991,351

1,818,120
104,696
69,928

Total in England. 28,027,365 26,034,621
5c0t1and........ 3,371,906 3,455,657 83,745
Ireland.

1,992,744

United Kingdom] 37,879,7881 34,587,4871

3,292301

Thus showing a decrease of £1,992,744 in the circula-
tion of notes in England, and a decrease of £3,292,301 in
the circulation of the United Kingdom, as compared with
the corresponding period last year.
The average stock of bullion held by the Bank of Eng-
land in both departments during the month ending the
14th of August was £9,410,311, being a decrease of
£821,740 as compared with the preceding month, and a
decrease of £6,525,185 as compared with the same period
last year. _ _