The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-10-19 00:00:00

FINANCIAL AND COMMERCIAL SUMMARY.

The depression and embarrassments in the commercial
world are, if anything, aggravated since our last, and al-
though last week several cabinet councils were held.
nothing has been permitted to transpire as to the result of
their deliberations.
The stringent proceedings of the Bank of England have
been the leading topic of discussion in the monetary circles,
the rates of interest charged far exceeding anything known
in regular banking business for upwards of a century. No
specific rule is adhered to, but it is currently reported that
they have exacted at the rate of 9 per cent. on public
securities, and it is an ascertained fact that they have taken
at the rate of 7 per cent. on commercial paper, with
scarcely five weeks to run.
By the return of the Gazette, the movement of the
Bank of England for the week ending on the 9th instant,
gives the following changes compared with the week end-
ing on the 2nd instant :
In the department of issue the notes in circulation had
decreased £160,110, which had been accompanied by the
decrease of £181,316 of gold coin or btillion, and an in-
crease of £21,206 of silver bullion.
On the debit side of the banking department the Rest
had increased £22,078, the public deposits had increased
£85,656, the private or other deposits had decreased
£247,871, and the seven-day and other bills had increased
et
£4,ss3,rscuri which
hsich had
s squared
increased
£1,396, making the total of the liabilities £36,632,648.
On the credit side the Government Securities had de-
creasedand
silver£23s 00
coin hado ;
increased the heared the
de
account.

The bullion in both departments of the bank had de-
creased from £8,565,307 to £3,408,750, being a difference
of £156,557.
The paper in actual circulation, including the seven-day
and other post-bills, had decreased from £19,577,278 to
£19,503,372, being a difference of £73,906.
The Liverpool Cotton Market was last week—if any
alteration can be noticed—not quite so much depressed ;
that is, sales have not been so much pressed. This will
be accounted for by the fact that the arrival of the Ame-
rican steamer was expected to bring such news as would
give the market a firmer tone ; prices are lower to the ex-
tent of id. to Id. per lb, at which reduction nearly 4,000
bales have been taken on speculation, and 1300 for export.
The total sales were 21,700 bales, leaving the quantity for
home spinning upwards of 16,000 bales. The imports
have this week been very large, viz., 47,500 bales. The
estimated stock of cotton is now 415,470 bales against
614.600 bales last year. The prices of the committee of
brokers were declared to be as follow :—Bowed, s:ld. ;
Mobile, 51d. ; and Orleans, 61d.
The tendency of the. Corn Markets was last week down-
wards, and, although no reduction in prices could be
quoted at Mark-lane on Friday, the market was decidedly
weaker. At Liverpool there was a decline of 3d. per
bushel from Tuesday's rates. At Wakefield the decline
was 2s. per quarter.
In the manufacturing districts trade is quite at a stand
still, and it is stated in the Manchester Courier, of
Saturday, that whilst the present uncertainty obtains, it
becomes a matter of great indifference with the majority,
whether they do any business or not, until they are better
able to judge of the likelihood of their sales being met by
payment in due course. On the other hand, there are
very extensive orders from abroad held by buyers, who,
however, will not operate, not by any means because the
present range of prices is too qiigh for them, but because
of the present stringency in the money market and high
rates of discount, which preclude the possibility of getting
their remittances turned into cash to meet the purchases,
except at seriously high rates, and-even were they willing
to pay the high discount charge, there is no knowing one
day before another, whether they will be able to obtain
discounts at all. Under such ctscumstances there is uo
wonder that they should keep back their orders ; but the
effect of such a stoppage to our export trade is to place an
insuperable bar to the return of bullion to this country,
wasmaniat.he first cause to
rlicsiiasfactory accounts fromcal
ti
leadthem absencerues
have,
oa
vteh,
the
and
n presentthe exportcwo
hnol ofml e we,
America. by the Britannia. The commercial houses there
maintain their standing. The creditors in America of
Prime, Ward, and Co. are not, however, expected to re-
ceive more than ten per cent. of their claims, nearly the
whole of the funds of the house being absorbed in meeting
the drafts protected by Messrs. Overend and Co. Cotton
was a little lower, the news of the growing crop being
much better. Breadstuffs had advanced in value, and the
stock in New York being very light, little was shipping to
this country. Freights had, in consequence, receded to
Is. 3d. to Is. 6d. per barrel for flour, and d. per lb. for
cotton : thus extremes beget extremes, the high rates
of the spring causing ruinous rates in the autumn. Ex-
change was 1084 to 108; for private, and 109 for bank
bills.

Notwithstanding the enormous fluctuation during the
account, only two small defaulters have been declared in
the London Stock Exchange, the differences being, In. a
public point of view, of no importance whatever. It is,
however, stated that a yen- great number of the out-door

operators- have been extinguished ; as a proof of which the
courts and alleys surrounding the Stock Exchange were
clear ofltheir presence on Friday morning. The pres-
sure for-money in the house has been very severe, and the
rates of interest charged proportionably high, every effort
very naturally being made to avoid forcing securities on;
the market. As much as 9 and 10 per cent. was current
on Exchequer Bills for eight or ten days.
A meeting of the creditors of Messrs. Lyall Brothers
and Co,, was held on Saturday. The statement submitted
shows a deficiency of £188,831, and a dividend of not
quite9s. in the pound; but with commendable care to
guard against expectations that may prove fallacious, the
firm have excluded all estimate of the sums that may be
received from the estate of Lyall, Matheson, and Co.,
except such as are actually looked for by the three next
mails. Hence a claim of £203,675 figures in the assets
at only £60,000. Messrs. Lyall appear to think that the
Indian house " will be able to meet all their engagements
by the sacrifice of the partners' capital," in which case
the dividend would be increased to about 17s. • but,
taking the much more probable supposition that that
house will not pay more than 10s. or 15s. in the pound,
the dividend from the present estate would then range
from about Ils. to 14s. The concern is to be wound up
under inspection.
On the same day a meeting of Messrs. Usborne and
Sons' creditors took place. The balance-sheet presented
shows a dividend of Ils. 3d. in the pound, and Messrs.
Usborne have made a proposition to pay I Is. in the pound
in the following manner, namely 7s. on the 15th of No-
vember, 2s. on the 15th of February, and 2s. on the 15tlx
of May, the meeting agreed thereto.
With regard to the Abingdon Bank, the stoppage of
which has been mentioned, it is understood that Mr.
Luard, the manager of the London and County Bank,
left London on Saturday with the expectation of making
arrangements by which it may be enabled to resume busi-
ness. Should this step succeed, the concern will hence-
forth be carried on as a branch of the London and County
Bank.
Advices from Riga, dated October 7th, quote the ex-
change 381 d. Of new sowing flax seed 24,000 barrels had
already arrived, of which 15,000 had been sold, chiefly for
Belgium and Germany, very little having been bought for
Ireland. The market for hemp was flat. Intelligence
had been received of the failure of Perkins, Schlusser, and
Mullens, but it does not appear to have produced any bad
results..

STEAM COMMUNICATION BETWEEN
LIVERPOOL AND GLASGOW.
REDUCTION ON RATES OF FREIGHT.
The Rates of Freight by these Vessels have
'•:;,,•it *4 recently been considexably Reduced, and. now
yti , ,k, . includes all the
.Clyde Dues. For particulars
Nar& apply at the different Companies Offices, as
1)
under :
The Glasgow and Liverpool Steam-ship Company's Steamer
ORION, (new Ship) ('apt. MAIN,
The City of Glasgow Steam-packet Company's Steamer •
ADMIRAL Capt. BOYD,
COMMODORE Capt. HARDIE,
The Glasgow and Liverpool Royal Steam packet Co.'s Steamers
PRINCESS ROYAL Capt. CRAWFORD, '
Are intended to sail (with or without Pilots) as follows :
FROM LIVERPOOL,
OCTOBER.
PRINCESS ROYAL .. This Day, the 19th.. at 5 , Afternoon.
ORION Thursday, the 21st.. at 7 , Afternoon.
ADMIRAL,
PRINCESS ROYAL
ORION Tuesday, the 26th.. at 12 , Noon.
ADMIRAL
PRINCESS ROYAL
FARES:-Cabin, 155.; Steward's Fee, 25.; Steerage, ss.

Agents fer the ORION,
T. MARTIN and BURNSand Co.,
7, Water-street.
Agents for tke ADMIRAL rnd COMMODORE:
DAVID MACEVER and Co.,
14, Water-street.

Agent for the PRINCESS ROYAL : -
ROBERT LAMONT,
33. Water-street,

On WEDNESDAY, the 27th instant, at One o'clock precisely, at
the Cotton Sales-room, Exchange-buildings,
The BONDED STOCK of the late firm of Messrs. JAMES
WINSTANLEY and SONS, and other WINES, viz. :
About 19 Butts 50 Hogsheads SO i-Casks SHERRY, of sundry
shippers ;
„ 18 Pipes 30 Hogsheads 50 4-Casks PORT, of sundry
shippers ;
„ 30 Hhds. BRANDY," Martell," " United Vineyard Co."
„ 10 Hhds. PONTAC.
Catalogues may be had on application to the Brokers; and
Samples will be ready at their Office, on MONDAY and TUES-
DAY next,•the 25th and 26th instant, and On WEDNESDAY,
until the hour of sale.—Apply to
CHRISTOPHER BUSHELL and Co., Brokers.

Without reserve.
IMPORTANT SALE OF BOTTLED WINES,

On WEDNESDAY, the 27th instant, at One lock precisely, at
the Cotton Sales-room, Exchange-buildings,
The following Duty paid Bottled WINES, viz. :

(Of superior PORT, from th;ee to twelve

yeais in bottle, shipped by Smith, Wood-
Abouthouse and Co., Lambert, Kingston, and
2060 Dozens. Co., Allan, Morgan, and Co. Knowles,
Procter, and Co., Croft and Co., and
other shippers;
' 350 Dozens of first growth CLARET, shipped by Joan-
sons and others ;
' , 50 Dozens of very superior East India MADEIRA,
„ 30 Dozens of very old East India SHERRY,
15 Dozens of very fine Old HERMITAGE,
and various other WINES.
Also, about 400 Three Dozen Cases of PORT, of first quality,
bottled at Oporto, in bond.
Catalegues may be had on application to the Brokers, and
Samples will be ready at their Office on MONDAY and TUESDAY
next, the 25th and 26th instant, and on WEDNESDAY until the
hour of sale.—Apply to
CHRISTOPHER BUSHELL and Co., Brokers.
N.B. No tasting will be permitted during the time of sale.

&tram flabigation.

STEAM COMMUNICATION TO HAVRE

6c .•z 4h,
01 „p

Saturday

The Screw Steamer BLARNEY,
Captain SULLIVAN,
Is intended to be despatched
FROM LIVERPOOL,
23d October,

at Nine o'clock Morning,
FROM HAVRE,

Monday lst November.
Fare to Havre .... Cabin .e 2 2s. 6d., including fee.—Deck, 15s
Agent in Havre .. Mr. WILLIAM DAVIDSON.
Agent in Paris.... Mr. HENRY BENNETT, 6, Rue de-la-Paix
WM. WILSON and SON. 15. Water-street, Liverpool.

DROGHEDA STEAM-PACKET COMPANY.
ST. PATRICK, Captain P. HEANY,
sji . BRIAN BOIROIMHE, Captain REYNOLDS,
FAUGH-A-BALLAGH, Captain WHITE,
(new iron Steam Ships,)
IRISHMAN, Captain TOK ER, and
FAIR TRADER, Capt. OWENS.
The above splendid first-class Steamers sail regularly between
LIVERPOOL AND DROGHEDA,
with or without Pilots, and liberty to tow vessels -
Tuts Day, Oct. 19, at 4 o'clock Afternoon.

THURSDAY,

21, 6i ~
23, 8 ~
- 259 9 ~

SATURDAY, ,;
MONDAY

Afternoon
Afternoon.
Afternoon

A Steamer sails frotii " DROGHEDA for LIVERPOOL, on
MONDAYS, TUESDAYS, WEDNESDAYS, THURSDAYS, FRIDAYS,
and SATURDAYS.

Live Stock to be on the Quay of Drogheda three hours before
sailing: • -

Go(ids received daily at the Clarence Dock, and forwarded to
Drogheda per first vessel. Freights moderate.
CABIN FARE, (including Steward's Fee,) 10s. ; DECK, ss.
For further particulars apply to
PATRICK TERNAN,
35, Water-street, and Clarence Dock, Liverpool.
STEAM COMIVIUNICATIONAIETWEEN
DUNDALK and LIVERPOOL.
THE DUNDALK STEAM-PACKET CO.'S
Splendid and powerful new iron Steam Ships
PRIDE OF ERIN,
"(800 tons burthen, and 420 horse power,)
WILLIAMS,JOHN Master, and
DUNDALK, -
(600 tons burthen, and 300 horse power,)
JOHN HUTCHESON, Master,
Are intended to sail as under:

FROM LIVERPOOL TO DUNDALK,
(From the Clarence Dock Basin,)

Tuts DAY, the 19th October, at 5 o'clock. Evening.
THURSDAY, the 21st October, at 7 o'clock, Evening.
SATURDAY, the 23rd October, at 9 o'clock, Night.
TUESDAY, the 26th October, at 11 o'clock, Night.
THURSDAY, the 28th October,
_at_ 2 o'clock, Afternoon

4 -Stewardess attends the Ladies' Cabin

One of the Company's Vessels sails from DUNDALK for
LIVERPOOL every TUESDAY, THURSDAY, and SATURDAY,
about two hours before high water.
Goods for shipment to be down at least two hours before the
time of sailing.

For furtheF particulars apply to the Agents, WILLIAM
M'MASTER, Steam-packet Quay, Dundalk, or to
JAMES ➢METGE, 35, Water-street, Liverpool.

PORT OF LIVERPOOL

NOTICE TO MARINERS,

Dock-office, Liverpool, September 16, 1847
(ALL BEARINGS BY COMPASS.)

. ~
THE TRUSTEES OF THE LIVERPOOL DOCKS AND
HARBOUR do HEREBY GIVE NOTICE that the following
CHANGES in the LIGHTING, BEACONING, and BUOYING
of the Northern Approaches to this Port will take place on and
after the Night of Tuesday, the 2d November, 1947.
CROSBY LIGHTHOUSE.—A new Light Tower has been
erected nearly Half a Mile N.E. by N. of the present Crosby
Lighthouse. The Light therefrom will be exhibited, for the
first time, on the Evening of the above date, and be continued
every Night from Sunset to Sunrise.
The Light in this Tower will be Stationary, of a Red- Colour,
elevated 96 feet above the Sea at Half-tide Level, and will be
visible between the bearings of S.S.E. and N.E. by E. i E.,
which limits will indicate respectively when a Vessel is west-
ward of Mad Wharf, and when she is abreast of the Crosby
Light-vessel, and ought to shape her fairway course up the
Crosby Channel.
The FORMBY LIGHT-VESSEL will be moved 170 fathoms
N. by W. zi W. of her present position, into 35 feet at low-wa-
ter. When brought in a line with the New Crosby Shore Light,
she will lead in from seaward through the Victoria Channel, on
a course of S.E. by E. 2 E. ; and when brought in a line with
the Crosby Light vessel, she will lead in through the Half-tide
Swashway, on the bearing of S.S.E. 2 E.
CROSBY BEACON—The Crosby Shore Beacon will be
moved nearly Half a Mile N. z E. of its present position, on a
line with the Crosby Shore Light and Formby Light-vessel.
The BELL BEACON will be moved about 170 fathoms S.W.
of its present position, into 35 feet at low water, with the
Formby Light vessel and Crosby Shore Light in one, and bear-
ing from the N.W. Lightship N.E. i E. four miles.
V. 4, RED (Can) BUOY, with Formby Light-vessel bearing
I.
PERCH, will be moved nearly it N.E. by E. about one-sixth
a Quarter of a Mile N.W. by N. of a mile.
its present position, into 21 feet C I, Red, (tan,) S.S.E. 2E.
at low-wafer. J nearly one and a half miles
FORMBY N.W. SEA MARK will be moved One and One-
Eighth Mile N.N.E. i E. of its present position, and a New
Beacon will be erected on Mad Wharf.

These Beacons when brought in one, on the bearing of S.E.
by E. E., will lead from Formby N.W. Buoy up the fairway
of the Entrance of the Old Formby Channel.
WILLIAM LORD, Marine Surveyor.
By order of the Dock Committee,
DANIEL MASON, Secretary.