The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-12-14 00:00:00

FINANCIAL AND COMMERCIAL SUMMARY.

We have not yet the pleasure of noticing much im-
provement in the position of commercial affairs. On the
contrary, during the last week we have lost some of the
buoyancy of feeling which was occasioned by the resump-
tion of the Royal Bank, and the satisfactory announce-
ments made with respect to two other local establishments.
The occurrence of two more failures in Liverpool, and of
an important house trading with London, have not 6on-
tributed to dissipate the uneasy feeling existing, and which
must continue antil we receive further accounts from India
and the United States. This is, however, at all times a
dull month ; but we never witnessed, even in December,
such an indisposition amongst merchants to refuse offers
for produce at any thing like a moderate rate of depre-
ciation. .

The Bank directors separated on Thursday without
altering the rate of interest, and the money market con-
tinues easy. Indeed, it is said that the coffers of the se-
veral bankers and discount-houses are abundantly sup-
plied. The general rate for first-class bills is is 51 and 51
per cent., and such as have but a week or two to run are
done on lower terms. The quotations for other descrip-
tions of paper still run high. On the Stock Exchange
money has been quoted free daily at 4 to 5 per cent. for
the usual period of accommodation. The supplies of spe-
cie from abroad have been limited.
Our cotton market has been very dull during the week,
and prices have further receded id. to 4d. per lb. The
sales for the week ended Friday was 21,900 bales, includ-
ing 650 for export. The imports have been 9993 bales.
On Saturday 2500 bales were sold, without any change in
price. Spinners cannot now complain of being prevented
buying by the state of the market for the raw material,
New Orleans and Mobile being now 2d., and Upland lid.
per lb. above the prices of the corresponding period last
year.
Business in the cotton manufacturing districts is slowly
improving, and the hands are being set to work. A con-
siderable number, however, still remain idle, and in a most
deplorable condition.
Our corn market continues dull, and prices are lower,
except for the best fresh wheat and flour, which are
scarce and the turn clearer. The announcement of the
intention of Ministers to reimpose the duties under Sir
Pobert Peel's late Act on the first of March has taken
some parties by surprise, and the opinions are various as
to the, sufficiency of the stocks in the country. The effect
upon prices of this just consideration of the claims of the
native agriculturist must depend very much upon the
question whether or not the present open weather con-
tinues. Should the former be the case both the United
States and the Continent could afford us an overwhelm-
ing supply to arrive before February closes. Should
frost, however, set in, the foreign grower will have to re-
gret that he has not availed himself of the extremely low
rates at which freights are now procnrable. At the pre-
sent average of grain, 525. 2d. per quarter, a four shilling
duty would have to be paid, rising as the average falls by
a shilling until at 48g. per quarter the duty reaches the top
of the scale, viz., 10. The encouragement will hence be
great to press forward shipments.
The accounts by the last West Indian mail are most
discouraging, as to the condition of toe planters. We
have referred at length to this subject in another column.
The most important intelligence received from the
Continent relates to the temporary suspension of the large
sugar-refining works of Messrs. C. Bruyn and Co., at
Amsterdam. The advice of this unfortunate disaster was
first received on Thursday via Antwerp, and has been
fully confirmed by the arrival of the Rotterdam mail,
which came to hand on Friday. A week or two ago it was
mentioned that this firm was in difficulties, but the truth
of the assertion was then denied, as the report went that
the Dutch Government were so largely interested in its
fate, as to render it almost imperative upon them to afford
it all reasonable assistance. That notion having exploded,
we now approach the real facts. In consequence of the
monetary pressure, the usual facilities of the house of ob-
taining accommodation have been closed, and hence,
though their assets are estimated at between £3OOO and
£350,000 to meet debts and liabilities equal to £200,000
or £250,000, the partners have been reduced to the neces-
sity of praying time for the arrangement of their affairs.
So much as is here stated has been communicated by
them to their friends at home and abroad. A list of the
heaviest creditors which has been seen in the hands of
individuals well acquainted with their connexions, throws
the burden of £78,000 upon -five foreign establishments,
and of £37,000 upon four London establishments.
The following is the position of the Bank of England
for the week ended sth instant, as compared with that of
the same period last year :

IDec. 4, 1847

Dec. 5, 1846.