The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1838-06-19 00:00:00

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COMMERCIAL IN I'ELLIG ENCE.

(From the Sunday Times.)

LONDON, Sarni:par.—The mercantile advices received this
week from the United. States are, it is satisfactory to observe,
of a much more favourable character than those previously
obtained, as respects the state of trade. A very material reduc-
tion had taken place in the exchanges between New York and
the other principal cities of America. ,This alteration has been
most anxiously looked for by the, merchants and_traders fur
months past, as the only means of facilitating the liquidation of
debts between the several sections of which the United States
are composed; numerous individuals having hung back in the
discharge of their obligations under the general plea that the
previous ruinous depreciation in the exchanges effectually pre-
vented them from meeting the demands of their creditors. Al-
though the resumption of specie payments had. become pretty
general in the northern states, still the banking interests dis-
counted only to a limited amount, and the want of accommoda-
tion necessarily checked a return to a general activity, in the
various branches of industry. It is, however, gratifying to be
enabled to state that the packets which are loading for New
York will take out a considerable quantity of British goods,
which no doubt will find a very ready market in America.
Specie continued to flow into the United States in very large
amounts, forming a strum" contrast to the state in which the
bullion market was placed a few months since, when gold bore
a premium of from 8 to 22, the latter value having been realised
in the southern parts of the Union.
The mercantile markets in the City have for some days past
exhibited a great degree of animation. The sales, both for
public and private contract, of nearly all the principal articles
of import have been upon a very extended scale, and it is satis-
factory to observe, that in the majority of instances, enhanced
prices have been given by the dealers. As some very heavy
prompts must follow these sales shortly, money has become
more in request. The principal discount houses now ask from
3to 3 per cent. for accommodation, even upon the best de-
scription of Bills of Exchange. It is not expected, however,
that money will become much more in demand, as the quarterly
dividends will shortly be paid, and from £1,500,000 to £1,700,000
in addition will be thrown into circulation by the reduction of a
portion of the floating debt of the East India Company.
Very little speculative business has been transacted in the
Funds this week; many of the chief operators in time bargains
have been attracted to Ascot to witness the sports the race-
course afforded, rather than attending to the ordinary occupa-
tions of the Stock Exchange. The Bears have taken advantage
of this circumstance, and they have occasioned a fall, although
their operations were not by any means considerable, of nearly
per cent. Consols for Account yesterday left off at 95, rather
buyers. The transfer-books being closed preparatory to the
payment of the dividends, necessarily restricts the business in
real transactions, iu Consols as well as in the New Three-and-
a-Half per Cents, and other portions of the public debt There
has been a slight improvement in the premium upon Exchequer
Bills, which have again reached 70, and India Bonds 76 prem.
Bank Stock yesterday reached 2054, being slightly above the
prices obtainable in the early part of the week.
The state of the market for Foreign Securities has been very
nearly the same as that noticed on this day week. The account
was settled yesterday, but without producing any movement in
prices. Spanish Stock has advanced from 211, to 21i; Portu-
guese Five per Cents from 354 to 2412. French Rentes have
risen from 109-50 to 110, the exchange being quoted at 25f. 50c.
The alterations in Dutch, Belgian, and the other Foreign Bonds,
have been slight this week. The same remark will apply to the
South American Stocks.

For Shares the inquiries have not increased, but the princi-
pal projects have looked more brisk within the last week. The
Great Western Railway have been advanced to 90, or 25 prem.;
the Brighton to 113 or 3 prem. ; the London and Birmingham
from 182 to 174, or 8.3 prem.; the North Midland to 391, or 41
prem.; the Leeds and Manchester to 371, or 171 prem.; the
Blackwell to 51, or prem. and the Croydon to 16, or 4 disct.
Shares of Banking Companies remain very nearly the same as
last week. Asphalte and Bitumen Shares are very flat. The
Claridge's patent Asphalte have rallied from 4 to 6, or 4 prem.,
but all the others have been sold on cheaper terms.
HALF-PAST TWELVE.—In the Money Market there has not
yet been much business doing. Consols have been quoted at
94i 95; Exchequer Bills at 68 to 70 pm.; and India Bonds at
76 pm. Bank Stock is at 2054.
Portuguese New Bonds are (looted at an improvement to 361
37, and Spanish Consols, to 21i 22; Brazilian have advanced to
102. Dutch Two-and-Half per Cents remain at 513 55
, In the Share Market the prices are not essentially different
from those obtainable up to the close of business yesterday after-
boon. Great Western Shares have risen to 27 pm. Claridge's
Asphalte Shares have been sold as low as 31, but are now Worth
41 prem.