The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1847-10-12 00:00:00

FINANCIAL AND COMMERCIAL SUMMARY.

The prices of stocks during the week have progressively
declined, and further failures have occurred. The
closing price for Consols was on Friday 83f ; and, for the
October account, 84. The pressure for money was, how-
ever. reduced. Nevertheless the current rate of interest
was 8 per cent. Exchequer Bills, which at the com-
mencement of the day were at 20s. to 10s. dis., closed at
I Is. to is., the small descriptions being quoted at par to 4s.
pm. The failures reported during the week have been
unimportant ; and such as there have been are more pro-
perly suspensions than failures, the parties whose difficul-
ties have been brought before the world being well able
to meet all demands, so far as regards the amount of their
assets, and only inconvenienced by the difficulty of pro-
curing the ordinary facility of discounts. On Saturday,
the consol market was heavy, at a further fall of 2 per
cent in value. The unfavourable state of the Bank re-
turns for the past week, together with fears regarding the.
revenue returns, were the causes of the depression. The
" Bear" party operated rather largely. Consols were
831 to for the Account. Exchequer Bills, 12s. to ss.
dis.

Our cotton market has been affected seriously by the
state of the money market; and prices declined 2d. to !lA.
per lb. during the week for American qualities. On
Thursday and Friday, however, a slight rally in prices
took place. The sales of the week were 22,370 bales, of
which 3,500 were on speculation, and 1,500 for export.
The imports were only 5,259 bales.
The Manchester market is in the same state of depres-
sion as last week. Attempts are making to reduce wages,
and two mills have turned out. Further turn-outs are
very probable. On the whole, the manufacturing inte-
rest is in anything but a satisfactory state.
The corn markets throughout the country are tolerably
firm, with a tendency to decline, but prevented by the
fact that farmers just now r.re employed in cut-of-door
avocations, and are not pressed to bring their crops to
market. The prices in our own market have slightly
advanced, owing to the temporary cessation of imports
from the United States. Purchases, however, are merely
for immediate consumption.
The demand for money in the general discount market
was more than usually active last week, owing to the large
amount of commercial paper which had to be met on
Monday, the fourth of the month. The bill brokers de-
manded very high rates for every act of cash accommoda-
tion, but no exact quotation can be given. A great
number of bills had to pass through the hands of the
various notaries, and the latter state that they have been
usy d.l the

The creditors of Messrs. Reid, Irving, and Co. had a
meeting on Saturday, to receive a statement of their af-
fairs, and the balance sheet was read, of which the follow-
ing, in round numbers, is a tolerably correct abstract :
On the debtor's side : acceptances outstanding, £793,782;
of which there ought to be taken up by other parties than
Reid, Irving, and Co. £347,929, (but there can be no es-
timate made with any certainty as to the result of those
acceptances ;) the liabilities on bills receivable are
£493,869 ; on which there is an estimated loss of £32,683 ;
the balance at the banker's was to be retained against lia
bilities, £5,491; the total liabilities are £660,432. The
creditor's side gives the assets : good debts at £9,153 ;
other debts estimated to produce £96,139 ; claims upon
Mauritius estates, West India properties, &c., £665,981 ;
produce, cash, &c., £70,480 ; making an estimated total
of £846,756 out of properties, produce, &c. which cost
originally £1,121,342. The creditors generally appeared
to be satisfied with the statement, but a large dividend
cannot yet be expected.
Although the 4th did not create any symptoms of alarm
in circles where its effects were most dreaded, still the
day did not terminate without adding two more disasters
to our lengthened catalogue of mercantile defaults. These
were the houses of Messrs. Thomas, Son, and Lefevre,
highly connected in the Russian trade, and of Messrs.
Raugement, Brothers, merchants and agents to a wealthy
continental bank. Messrs. Thomas, Son, & Lefevre's debts
and liabilities, it is stated, will exceed £350,000, and little
is known of the extent of assets. Messrs. Rangement,
Brothers, is alleged, will be only a temporary stoppage.
They, it is said, possess property sufficient to pay 50s. in
the pound, but refuse to sacrifice it, while affairs remain
in so deplorable a condition. To these casualties we
have to append one other—Mr. F. J. Van Zeller, the
Portuguese Consul, who closed his doors on Thursday.
There are several extensive stoppages, both in Man-
i chester and Liverpool, principally connected in the Colo-
' nial interest. It is, however, gratifying to find that one
or two of the establishments so mentioned have been en-
abled to resume business after a short suspension. The
most recent failure at Manchester, which has occasioned
much regret, is that of the firm of De Jersey and Co.,
involved by the failure of Messrs. Thomas, Son, and
Co., of London. As engaged in the export trade to Rus-
sia and the north of Europe, it was perhaps, the most
extensive establishment in that district. Messrs. Birlev
and Corrie, of Manchester, in the East India trade; and
Messrs. Murray and Ca., of Liverpool, in the West India
trade, are among those who have already found them-
-1 selves in a position to proceed.
The commercial advices from New -York to the 23rd
ultimo are unimportant. The European accounts by the
French steamer Union were received at New York on the
16th ultimo, and cast considerable gloom over commercial
affairs ; and until the arrival of the Britannia's advices on
the 20th, announcing that Prime, Ward, and Co.'s bills
had been protected, very great anxiety existed. At the
latest dates the money market was quiet. Two failures
occurred on the 20th, namely, J. J. Kingsford and Messrs.
Muir, Taylor, and Co., English agency-houses. Exchange
had declined to 1081 to 109, the latter rate being almost
nominal, and the transactions small. A marked preference
was given to bills drawn by banks. Cotton had also de-
clined, and on the quotations of the previous week a fall of
4- to cent. per pound had occurred. Flour was firm at
5.62 to 5.75, the stock and supplies being light, and
farmers holding back in anticipation of renewed exports to
Europe and consequent increased prices. Freights were
scarce; cotton to Liverpool, *d; flour, Is. 6d. ; turpen-
tine, 2s. ; grain, 6d. to 7d. ; heavy goods, 20s. to 255. ;
cheese, 225. to 255. Business generally continued on a
limited scale, and the markets for most descriptions of
foreign and domestic produce was rather depressed. The
public mind had become excited by the failures, and,
generally speaking, there was a reluctance to operate
beyond the supply of immediate wants, the spirit of specu-
lation having of late materially subsided. Coal was in
good demand, and the supplies being moderate, prices
1 were well supported ; Liverpool Orrel at 9 dollars. Pot
ashes had advanced since the previous steamer 181 cents :
pearls had declined 373 cents. Tobacco continued in fair
demand.
The accounts from New Orleans are to the 15th ult.
They state, that the amount of hills returned to that
city from Europe did not exceed £lO,OOO and that no ill
consequences of moment would ensue. Flour, Ohio and
Illinois, 4.75. Exchange on London, 61 to 7. Freights
were dull.

THE BISHOPS AND TRACTARIANISM.—The Rev. W.
Carus Wilson, of Casterton-hall, has addressed a second
letter on this subject to the Morning Herald, which ap-
peared in that paper yesterday. Mr. Wilson complains of
the Bishop of London preaching on St. Bartholomew's
day for the schools at Kilndown, in connexion "with the
church, built, as is well known, by Mr. Hope, the restorer
of St. Augustin's, Canterbury, which, according to Mr.
Faber, he ' holds in trust for the church of better times.' "
Mr. Wilson adds, " Nor does London alone present the
fostering of Tractarianism in high quarters. What can
we say to the fact of Dr. Hook being selected by the.
Bishop of Ripon to 'preach the Ordination Sermon in
Ripon Minster on the 19th ult. ? Was there ever a step
more calculated to strengthen the hands of the Tractarian
party, or to offend and wound the sound Protestant feel-
ings of both laity and clergy ? I no not see what shadow
of excuse can be offered for such a selection." The
Reverend Mr. Wilson, after noticing Dr. HoOk's
prominent attachment to Tractarianism, goes on—" I can
only say, that, in my opinion, the church has a right to
expect, and a bishop ought to demand, a public and un-
equivocal retractation of his allegiance to the offending
party, an honest avowal of his conviction of the mischief
that is laying waste the Church, before he can properly
be taken by the hand, and selected for the most prominent
and responsible service in a diocese. Until this is the
case, I scruple not to say, the more innocent and powerful
the sermon in Ripon Minster, the more seriously and ex-
tensively dangerous it will prove ; for it cannot fail to act
as a blind to the candidates for ordination, inducing them
to judge of the orthodoxy of Dr. Hook's entire system
by the specimen here presented to them.. I cannot help
expressing my conviction that a more hurtful and dis-
couraging blow could not possibly have been given to
Protestantism by any bishop. But of the same complexion
is theßishop of Ripon's recent appointment of twenty rural
deans; the selection chiefly lying amongst men of Trac-
tarian character, and IR. whom Dr. Hook is one. There
can be no pleasure in thus bringing to light the disgrace of
our beloved Church: it is not the Church that is in fault,
but her administrators. I should be ashamed to venture
upon a reckless and wanton exposure of what is amiss ;
but the increasing urgency of our danger demands that
public attention be roused to it, and public opinion be
adequately expressed to those who ought to be our de-
fenders."

ROYAL AMPHITHEATRE.—The taste displayed by the
manager of this popular theatre in the selection of pieces
fresh from the pen of the dramatist, continues to attract
crowded audiences. " Lilly Dawson," the last novelty,
is a drama of great power ; the rapidity of incident
throughout the piece, and the poetical justice of its de-
nouement; must win for it a position as a favourite
with the play-going public.
MRS. WOOD AT THE CONCERT HALL.—Last evening,
at a concert given at the Concert-hall, the celebrated
Mrs. Wood (late Miss Paton) appeared. Her singing,
although the voice was not so clear as in former years,
was still characterised by that deep pathos and feeling
which has ever distinguished this celebrated vocalist.
She was deservedly encored in every song. She gave
several of her old favourites, including " Waters of Elbe,"
" Bid me Discourse," and " Oh ! no, we never mention
her," accompanying herself on the harp in -the latter
son,. She will appear again to-morrow evening.
eItEATRE ROYAL, WILLIAMSOIs_T-SQUARE.—Last night
the melo-drama of " Blue Beard" was brought out at
this theatre with great splendour, with new dresses,
scenery., and decorations, &c., the cast being a most
effective one. The theatre was well attended, with the
exception of the lower boxes. " Blue Beard" was cer-
tainly as well played as ever. we saw it ; but the piece
ws hhas a certainlyp lay as ,a ,
B difficultlue Beard,"
ear cardd
seemed not to be one much in favour with the audience,
if we may judge from the feeling expressed at the dropping
to play just now ; for the regular drama does not draw
owfitthh9cutc curtain.
a A managerrs
with its fine original music, does not draw, it is difficult
to say to what he is to resort. The interlude of " Pay
for Peeping" followed, in which Miss Clara Seyton (a new
appearance) displayed considerable talent. The perfor-
mances concluded with the play of " The Wreck Ashore.'
the part of 211armaduke Nago# ably sustained by Mr.
John. Reeve, jun.