The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1853-05-31 00:00:00

THE LIVERPOOL STANDARD, TUESDAY, MAY 31, 1853.

COMMERCIAL AND MONETARY NE it S.

MONDAY NIGHT.
The Public Funds, during the week, have experi-
enced some slight fluctuations, owing to the uncer-
tain and contradictory reports as to the relations
between Russia and Turkey. In other respects, the
tendency has not been unfavourable, though money
for commercial purposes has not been so easy, owing,
probably, to the more active resumption of trade
after the Whitsun holidays. Some influence may
also have been created by the recent large failures in
the iron trade, as well as by the continued drain of
gold, as the weekly return of the stock of bullion in
the Bank of England shows another decrease to the
extent of £265,000, notwithstanding the previous
large receipts. The financial scheme of the Chan-
cellor of the Exchequer for the conversion of the
Three per Cents. into a stock bearing a lower rate
of interest has proved such a miserable failure, that
it is difficult to predict what may be the result of it.
His plan includes the compulsory conversion of
about ten millions into three new varieties, with an
additional permission to other holders of stock to
accept two of the new species of security to the
extent of 30 millions each, and of the third to an un-
limited extent ; but so little has the scheme been
appreciated that the whole of the acceptances, up to
Saturday last, amount to only £2,000,000.
The reports from the manufacturing districts
show a considerable improvement in prices since the
termination of the holidays. In Manchester, the
manufacturers appear to have opened their eyes to
the folly of waiting any longer for that fall in the
Liverpool market, which seems to have been in-
definitely postponed, and the increased rates for
almost all descriptions of Cotton goods betoken a
continued demand, and a prospect of industrial
activity, which can only be interfered with, should
the operatives persist in their absurd threat to turn
out for higher wages. Accounts from other manu-
facturing towns are of the same favourable charac-
ter ; and as there is no reason to believe that specu-
lation has been carried beyond the verge of safety,
we may fairly calculate upon a continuance of com-
mercial prosperity. The mania for emigration,
which was somewhat checked a short time since,
owing to the unfavourable reports from Australia,
has, in some measure recovered, from recent ac-
counts being of a Letter character, while the incli-
nation to emigrate to America, as a shorter, cheaper
and less perilous voyage, has lately considerably in-
creased. This has given activity to the Shipping
trade, and the number of vessels already announced
to sail leave no reason to doubt a busy season at
this port.

Tlie delay which has taken place in passing the
Chancellor of the Exchequer's Budget, has na-
turally induced a lull in those articles more directly
affected by it ; but as no apprehension seems enter-
tained of its ultimately receiving legislative sanction,
at least as far as commercial transactions are con-
cerned, there has been no perceptible re-action,
merchants preferring to wait the turn of events,
rather than speculate further on probable effects.
The return from the Bank of England, for the
week ending the 21st of May, gives the following
results, when compared with the previous week :
Public deposits .. £5,815,477; Increase £719,786
Other deposits .. 11,953.498 ; Decrease 57,904
Rest .. 3,156,577 ; Increase 4,831
On the other side of the account—

Government securities £13,124,653 ; The same as before.
Other securities 14,368,263 ; Increase 354,087
Notes unemployed .. 8,724,030 ; Increase 305,610
The amount of notes in circulation is £22,638,755,
being a decrease of £524,050 ; and the stock of
bullion in both departments is £17,950,524, show-
ing a decrease of £268,493, when compared with
the preceding return.

ISSUE DEP
Notes issued .. £31,372,785 I

ARTMENT.

Govrnt. Debt.. £11,015,100
Other securities 2,984,900
Gold coin & buln. 17,353 ,631
Silver bullion .. 19,154

£31,372,785
BANKING DEPARTMENT,

£31,372,785

Prop.'s capita1.£14,553,000
Rest
Public deposits. 5,815,477
Other deposits . 11,953,498
7-day, &c. bills. 1,326,133

Gov. securities.Xl3,l24,6s3
Other securities 14,368,263
Notes .... 8,724,030
Gold & silt'. coin 577,739

£36,804,685 I £36,804,685
Our SHARE MARKET has been somewhat more
active this week. A large speculative business is
springing up in the new London light shares, which
are considered very low in price in comparison with
the stock. Other shares present no new feature.
The day's quotations are :—Blackburn, 6.1-; Cale-
donians, 35; Eastern Counties, 13,4 ; Lancashire
and Yorkshire, 79:1 :1; Midland Stock, 74..
Royal Insurance, lip.
COTTON.—A fair demand from the trade, a little
buying for export, and some investments on
speculation, with increasing confidence on the part
of holders, have given additional firmness to the
market, and, in some instances, in the middling
and better sorts of American and Surats, a slight
turn of advantage to the holders. The low and
inferior dirty qualities are still heavy. All other
descriptions than American are without change,
varying, however, in some degree, as to their
tendency. For instance, Brazils fully support
themselves, while Egyptians, especially the common
quality, are freely offered in every quarter.—
TO-DAY the prices of cotton continue firm, with a
steady demand, the sales being 7000 bales, includ-
ing about 2000 on speculation and for export.