The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1854-01-24 00:00:00

COMMERCIAL 4 MONETARY NEWS.

MONDAY NIGHT.

The still unsettled state of affairs in the East,
and the belief that it has assumed a far more war-
like appearance, have operated to produce a consi-
derable fall in the value of public securities, Consols
having been to-day as low as 90, which is a decline
of more than three per cent. within the week.
Part of this decline may be attributed to the fall
in the French funds, affected not only by the
Turkish question, but also by the rise in the rate
of discount adopted within the last few days by
the Bank of France. This measure has been in-
duced by the reduction in the stock of bullion,
which has amounted to no less than £3,000,000
since October last ; and it may have the effect of
causing further remittances of gold to be made
from London to Paris. The weekly returns of the
Bank of England show an increase in the stock of
bullion to the extent of £238,060—a large sum,
when it is considered that the Public Deposits
have decreased no less than £5,078,000, arising
from the payment of the dividends and the holders
of uncommuted stock. The " other deposits" have
increased £1,395,858, while the " other securities "
have decreased £2,073,114, showing a considerable
falling-off in the extent of accommodation. The
irate of discount on good paper has been about 5
Iper cent. ; and, notwithstanding the failure of a
highly respectable firm near Manchester, for about
£lOO,OOO, little has occurred to disturb the confi-
dence which prevails in the security of commercial
credit. It is said that the rate of discount in Bel-
gium is to be raised, but as that has ruled at only
2 per cent. for some time past, the increase is not
likely to have any effect on interest here. A
rumour has been current in Paris that the expenses
of the war against Russia are to be met by a joint
loan of £16,000,000 to England and France. This
loan, it is said, is to be issued at 78, as a medium
between the prices of the French Threes and. the
English Consols. Such an arrangement would
doubtless suit the various financial houses on both
sides, eager for commissions, but, except in the
wishes of these persons, it can certainly have no
foundation. A correspondence with the Govern-
ment, on the collection of the export duties on teas
at Shanghai, has been published by Messrs. Sillar,
Brothers, of this port. Since the occupatiQn of the
place by the victorious insurgents, the British and
American exporters of tea have been required by
their respective Consuls to give promissory notes
for the amount of the duties, and the object of
Messrs. Sillar was to ascertain from the home
Government the reasons upon which this demand
was founded, and the intentions entertained as to
the appropriation of what may thus be collected.
The reply of the Board of Trade is, that it will be
handed over to the Imperialists if they should re-
cover their power, or to the insurgents if they
should succeed in establishing a permanent autho-
rity, supposing in either case it should be proved
that the ships of other countries have not been
meanwhile allowed to take cargoes free or on less
favourable conditions than those observed by Eng-
land and America. Messrs. Sillar allege, however,
that such has notoriously been the case already, and
in their dissatisfaction at the answer obtained, they
recommend shippers forthe future to charter foreign
vessels. The duty is equal to an average of about
20 per cent. upon the original cost of the tea.
Assuming any extensive shipments to have been
made with the advantage of a difference of this
kind, the result would, of course, be a very unfair
one for those who are called upon to undertake a
liability of payment, but it is not easy to suppose
that the Consuls of the two countries can have acted
without a sufficient acquaintance with the facts of
the case, as well as with the views of the mer-
cantile community at Shanghai, to justify their
course.

The return from the Bank of England for the
week ending the 14th of Jan., gives the following
results, when compared with the previous week :
Public deposits ... £3,213,993; DecreaseEs,o7B,ooo
Other deposits ... 14,140,492; Increase 1,395,858
Rest ... ... 3,295,813; Increase • 47,919
On the other side of the account—

Government securities £13,644,025; DecreaseEl,lB9,274
Other securities ... 14,683,21)5; Decrease 2,073,114
Notes unemployed ... 7,443,015; Decrease 357,585
The amount of notes in circulation is £21,940,825,
being an increase of £592,625 ; and the stock of
bullion in both departments is £16,069,132, showing
an increase of £238,060, when compared with the
preceding return.

ISSUE DEPARTMBNT.

Notes issued ... £29,383,840 Governmt. Debt £11,015,100
Other Securities 2,981,900
Gold coin 8Dbu11'n.15,383,840
!Silver bullion

£29,383,840
BANKING DEPARTMENT.

£29,383,840

Prop. Capital ... £14,553,000'G0v. Securities £13,644,0g5
Rest ... ... 3,295,813 Other Securities 14,683,2D5
Public Deposits 3,213,993 Notes ... 7,443,015
Other Deposits 14,140,492 Gold & Silver Coin 685,292
7-day & other bills 1,232,329

£36,435,6271

£36,435,627

PRODUCE.—The markets during the week have
presented few features worthy of note. Sugar has
been in active demand, Coffee rather lower, In
Tea little doing. Rice has recovered the previous
week's depression. Palm Oil lower, owing to large
arrivals. Tallow stationary.
To-Day, Sugar continues firm, but the sales are
confined to 250 bags Benares at 405., 150 bags
Madras at 315., and 20 hhds. Cuba Muscovado at
375. per cwt. Nothing has taken place in Molas-
ses. There continues a very good demand for Rum,
150 puns. Demerara having realised a further ad-
vance. The Tea market remains unaltered, and the
sales small ; common Congou nominally ls. ld. per
lb. The Rice market has. again become active,
1550 bags middling Bengal being reported at 16s.
6d., to 16s. 9d.' with 100 tons, to arrive, at 175.,
4,000 bags Arracan, chiefi3 at 15s. 6d., including a
small parcel at 165., 500 bags Madras, to arrive at
155., 6d., and 110 tons Java, also for arrival, at 17s.
6d. per cwt. We have also to report 25 tons Lima
Wood at £l3 25.: 6d. to £l3 10s., 1,000 bales Jute
at £24105., for first class damaged M&C 2, and at
£24 15s. per ton for sound, 100 tons Sago Flour,
to arrive, at 235. 3d. to 235. 6d. per cwt., and 100
tons Bengal Linseed, also to arrive, at 595. per
quarter. _ -

InoN.—For the past week the market for Scotch
Pig Iron has been very inanimate, and has gradually
receded from 78s. to 745. 6d., at which it eloses Acry
heavily this evening.
CorroN.—The trade during the week has been
steady, but the arrivals being large, and spinners
buying no more than for their immediate necessi-
ties, holders are more ready sellers; and prices have
declined from 1-16 d. to *d. per lb. The week's
sales up to Friday amounted to 45,100 bales.
Notwithstanding the recent large arrivals, the
sto,.k of American Cotton in this port is 19,000
bales less than this time last year, but the stock of
Surats is 118,000 bales more, and the total is 65,000
bales in excess of last year. To-DAY there were no
advises from America ; trade was inanimate, and
prices rather in favour of the buyer. The sales
amounted to 5000 bales, of which about 500 were
on speculation and for export. The following is a
comparision of present prices with those of the cor-
responding period of last year :

- • 1853. 1854.
New Orleans, middling 5-id. -16d.
fair
Uplands, middling 5 9-16 d..... 5/d.
fair

WooL.—With respect to the public sales held
here, we give. the following extracts from bro-
kers' circulars. Messrs. W. GREAME and Co. say :
At our public sales 2,238 bales Australian and Cape,
4,541 bales East India, 1,049 bales Egyptian, 1,175 bales
Spanish and Lisbon, and 4,308 bales Turkey, Smyrna,
and sundry other low Wools were offered. We had an
unusually large attendance of the trade, the biddings for
Australian Wools were very spirited throughout, and
late prices well supported. For East India there was
also a very animated demand both for the home trade and
for export, particularly for the better classes of true bred
Wools, which were fully Id. per lb. higher. These Wools
are in great favour with our manufacturers, which, no
doubt, may be in a great measure attributed to the careful
and correet manner in which they are classed and as-
sorted. Well-selected parcels of Egyptian sold readily at
full prices, but inferior parcels mixed with Syrian and
other bad-bred Wools were not so saleable even at a pro-
portionate reduction in price. These Wools would come
into much more general use if greater care was taken in
classing and assorting them. For Spanish frontier and
Lisbon there was not much demand, and a great part
withdrawn, sales have, however, been made since the
auction at our quotations, Of Russian, Turkey, Smyrna
and other low Wools, a great part was also withdrawn,
as the prices offered did not come up to the expectations
of the importers.
Messrs. HUGHES and RONALD say :

The public sales just concluded were very numerously
attended, including many of the leading buyers from the
continent. East India formed the great bulk of the low
Wools brought forward; and, from the continued activity
throughout the Blanket districts, this descriptioncom-
'Banded more than usual attention, and, with some trifling
exceptions, the whole met with ready sale : for the better
qualities in white, yellow, and grey, there was a very
active competitition, both by the foreign and home
buyers. On the first and last of these we quote an advance
of fully lid. per lb, ; on good yellow of id. per lb. ; and
in all kinds below middle yellow of nearly Id. per lb., on
the average since our last public sales at the 'end of
October. A large quantity of Egyptian was put up, but
by far the greatest part was either bought in or with-