The Liverpool Standard and General Commercial Advertiser.
Liverpool, Merseyside, England, 1848-02-22 00:00:00

TIE LitERPOOL STANDARD.

GENERAL TRADE REPORT.

LIVERPOOL EXCHANGE, YESTERDAY

The budget of Lord John Russell has struck the com-
mercial world with universal panic. Trade for the present
is utterly prostrated, and nothing was heard on 'Change
yesterday but expressions of surprise and indignation at
the audacity of the ministerial propositions. Early in the
day, as if by

general consent, a requisition to the mayor
to call a public meeting was drawn up and left in the Ex-
change News-room for signature, which was eagerly and
signed by persons of every shade of political
opinion, and of the highest respectability, between two
and three hundred firms having appended their names in
a couple of hours. We subjoin a copy :

numerously

TO THE WORSHIPFUL THE MAYOR OF LIVERPOO

aitt,—vr e, unaersignea, inhabitants of the borough of
Liverpool and its vicinity, respectfully request you will call a
public meeting to take into consideration the financial state-
',Gent made to the House of Commons by the First Lord of the

on the

ture theieon."

In compliance with the requisition the Mayor has con-

vened a meeting for Thursday next, at twelve, in the
Sessions-house, which should be crowded.

Yesterday was a very dull day in the SHARE MARKET

with most stocks offered at lower prices—the cause was
said to be French news. During the past week the market
hai not undergone any change of moment ; not much
business has been done, and prices remain firm. The
Great Western Co. have declared a dividend of 31- per
cent., being per cent. less than the last dividend. The
Lonon and North-western have declared 4 per cent.
although this is also a lower dividend, yet from very
satisfactory statements made by Mr. Glynn at the meeting,
the stock has risen in price, and is much asked for in the
market. A special meeting of the Demerara company
has been held, since when an address has been issued to
the shareholders on the subject of calls in arrears. Great
expectations are entertained that this will be a paying
line even in the present distressed state of the West India
colonies. The Lancaster and Carlisle have made a divi-
dend of 20s. per share, and 4s. per third share. The Lon-
don and South-western 8 per cent. Efforts are about to
be made to . wind up" the Great Luxemburg Company—
these shares are £7 paid, and the market price is only
about £l. It is said £3 or £4 could be divided. The

glum ar

money to assist in completing a portion of the line in a
one which will pay very well. A body

of shareholders here and in London wish the remaining
portion of the line to be given up. The meeting of the
Midland Co. was held on Saturday, when a dividend of 7
per cent., as formerly, was declared, with the immense
surplus o f.. 4,090.
_ . _

Meetings of the following companies will take place
before Tuesday neat :—Ambergate, &c., 25th ; Belfast
and County Down, 25th ; Birkenhead. Lancashire, and
Cheshire Junction, 26th; Bolton, Blackburn, Clitheroe,
and West Yorkshire, 24th ; Brighton and Chichester,
28th ; Bristol and South Wales Junction, 25th ; Caledo-
nian, 25th ; Cheltenham and Oxford, 26th ; Cork and
Waterford. 25th ; Cornwall, 23rd ; Direct London and
Portsmouth, 25th ; Dublin and Belfast Junction, 23rd;
Dublin, Dundrum, and Rathfarnham, 26th ; East Lin-
colnshire, 23rd ; Eastern Counties, 261 h ; East and West
India Docks and Birmingham Junction, 24th ; Fleetwood,
Preston, and West Riding Junction, 28th ; Great North-
ern, 24th ; Great Western and Uxbridge, 28th ; Great
Western and Wycombe, 28th ; Hartlepool Dock and
Railway, 24th ; Huddersfield and Manchester, 26th ;
Leeds and Thirsk, 26th ; London and Blackwall, 22nd ;
Manchester and Southport, 28th ; Shrewsbury and Ches-
ter, 22nd; Shrewsbury and Hereford, 22nd ; Shrewsbury
and Birmingham, 24th ' • South Wales, 23rd ; Tenby,
Samdersfoot, and South Wales, 23rd.
In the COLONIAL MARKETS, up to last evening. we

have to report a very dull trade: The deinand for Sugar
continues very limited : grocers purchase cautiously, and
the refiners are not disposed to pay previous rates. The
sales for the last two or three days are trifling. Holders
are firm and do not show any anxiety to realise in the
present dull state of the market. Rum is also quiet, few
purchasers are to be met with, and to effect sales lower
prices will have to be taken. Molasses are more en-
quired after, and a fair business doing. Rice moves off
very slowly,—the article is not much wanted,—the stock
being large will prevent any advance taking place on the
present low quotations. There is still a fine demand for
all kinds of Coffee, which will most likely continue. The
Tea Market presents a very different appearance since
the Budget came out. The Market is very much
depressed, and common Congou may be quoted a
shade lower. For Greens there is a fair enquiry,
the good and fine qualities are much wanted.—
In London the markets, except as respects indigo, have
presented very little animation during the week, and
prices of many descriptions of produce have receded. The
indigo sales, at which great animation in the biddings has
been shown, terminated yesterday. _

The tendency of the CorroN MARICKT throughout
the whole of last week (for Friday always closes. the
cotton week), was downwards, and we then quoted 4 kd
to id for the highest point in low and middling qualities ;
on Saturday, however, there was a slight re-action, par-
ticularly for low cotton, which was continued yesterday ; our
market has a firm though rather a subdued tone about it,
and buyers try in vain to knock it down. The extent of
import is now the barometer ; last week it was very fair,
and on Sunday and yesterday we number three or four
cotton laden ships amongst the arrivals; these droppers
in keep us going very nicely, and tend to keep the
holders of " ould cotton" very civil.

The Scotch pig IRON MARKET is firm, and prices may
be quoted 50s. 6d. to 51s. in Glasgow for 3-sths No. 1,
and 2-sths No. 3, nett cash. Higher rates have in many
instances been obtained, and with a likelihood of being
maintained. Bars are now quoted in Wales at £7 ss.
The TIMBER TRADE has exhibited a firmer tone during
the past week at an advance of prices. A cargo of good
St. John Pine has been sold at 174 d. per foot, the aver-
age being 18 7-12 inches. A cargo of 18,895 St. Andrews
spruce deals of 21-cl. per foot of two inches. By auction
about 18,000 feet of Quebec pine was sold at 134 d. per
foot, 2,500 feet at Ind per foot, 17,116 feet at 12111., and
2000 feet at 14td per foot, 2000 feet of red pine at -20 d.
per foot, and 8,600 feet, at 194 d. per foot ; 22 logs Quebec
oak at 2s-per foot, 146 logs of Lower Port pine at 12d.
per foot, 200 logs birch at 12d. per foot, and 100 of larger
size at 174 d. per foot ; 19 birch planks at 3d. per foot of
two inches, 247 Quebec yellow pine deals at £lO. 12s. 6d.
per standard, and 2,530 at £9 10s. per standard. Some
hemlock deals at 1241. to 1 11-16 d. per foot of two inches;
St. Petersburg lathwood at £9los. per fathom of 8, feet
long, and Sweedish at £6 2s. 6d. per fathom of 6 feet.
Notwithstanding the discouraging accounts which con-
tinue to pour in of the almost universal depression of
the CORN trade, a slight reaction took place towards the
close of last week in the LIVERPOOL MARKET, and on
Friday, as will be seen from our report of that day's mar-
ket, in another column, the prices of Wheat, Flour, and
Indian Corn and Meal, took an advance. Since that date,
up to last evening, there has been a steady business doing.
We have to note an increasing export of Indian Corn and
Meal to Ireland. The accounts respecting the aspect of
the country continue favourable ; the autumn-sown
wheats have a very healthy appearance, and the spring
tillage is going on encouragingly.
In the LIVERPOOL PROVISION TRADE we have to note
an improvement in the best qualities of new Irish and
American bacon. Prime hams in demand ; old and in-
ferior nearly unsaleable. There is little variation eith(r
in the value or demand of butter since our last ; full prices
are obtainable for fine qualities, which are rather scarce ;
middling sorts are little inquired for, and our quotations
for these kinds may be considered nearly nominal. The
arrivals from the 15th to the 21st instant, inclusive, were-
Butter, 5,113 firkins, 1,213 crocks • bacon, 91 bales ;
hams, 67 hhds. ; tar& 3 tierces, 35 firkins, 192 kegs.-The
prices in Liverpool are-Butter : Waterford, 88s. to 945. ;
Kilkenny, Carlow, and Clonmel, 88s. to 925..; Carrick,
86s. to 88s. ; Wexford, Carlow, 88s. to 89s. ; Belfast,
88s. to 925. ' • Ballymoney and Coleraine, 86s. to 89s. ;
Banbridge, 84s. to 88s. ; Newry and Dundalk, 80s. to 82s. ;
Dublin, Carlow, 84s. to 88s. ; Sligo, 80s. to 86s. ; London-
derry, 82s. to 865.-Bacon : Long Middles, free from
bone, new, 565. to 60s. ' • Short Middles, do. do. 58s. to
60s. ; American, 40s. to 545.-Lard : Fine Keg, 60s. to
665. ; American, 58s. to 60s.

The English Funds opened with much buoyancy on
Friday, owing to the prevailing certainty that there would
be no funding, coupled with the statement of the Chan-
cellor of the Exchequer as to the increase in the Bank
reserve ; considerations of the inevitable unpopularity of
the contemplated addition to the income-tax, however,
produced a considerable reaction. Foreign securities dull.
A more unanimous feeling of disapproval has perhaps
hardly ever been observable in the city than that which
was expressed on Saturday, in relation to the minis-
terial proposition of Friday evening,. The English funds,
after opening heavily, experienced a rapid decline of a
half per cent., and although in some degree they subse-
quently recovered, they still left off a quarter per cent.
below the closing prices of Friday. The first quotation
of Consols was 894, whence they receded to 894, closing
at 894 to 4. For the 13th of April the last price was
894. Bank Stock left off 200 to 202 ; Reduced Three
per Cents., 894 to I. Three-and-a-Quarter per Cents.,
904 to 4 ; India Stock, 242 to 245 ; India Bonds, 6s. to
10s. premium ; and Exchequer-bills (March), 235. to 26. ;
(June), 245. to 28s. pm. According to some calculations
made on Saturday, it appears that the income tax, as it
applies to the holders of Long Annuities which have now
only 12 years to run, will amount to an annual charge of
15 per cent. per annum.
In the Foreign market the sole transactions of the day
were—Brazilian, Small, at 86; Granada, at 204; Spanish
Five per Cents., at 21; Belgian Four-and-a-Half per
Cents., at 904; Dutch Two-and-a-Half per Cents., at
54 ; and the Four per Cent. Certificates at 85.
The payment of a third dividend of ss. in the pound by
Messrs. Scholes, the bankers, of Manchester, has been
announced.
Great uneasiness has been manifested during the last
few days on the Paris Bourse, in consequence of the deter-
mination of the Reform party to hold the contemplated
banquet ; and despite the exertions of the " Bulls," a
depression of Government securities has resulted. The
Three per Cents. closed on Saturday at 74f. 10c. ; the
New Loan, 74f. 90c. ; the Five per Cents, 116 f. 80c.
The Commercial Bank of Dubois and Co., of Havre,
is expected to resume payments very shortly.
Advices from Paris announce the failure of the highly-
respectable banking establishment of M. L. Luuyt.
Mention has also been made of the failure of Jacques
Reinach and Co., bankers, of Mentz, with liabilities
£40,000, and assets £16,000.

We lerrn from the news brought by the Overland mail,
which arrived in London yesterday, that commercial
affairs at Calcutta remained very much as they were a
fortnight before. The creditore of Cockerell and Co, will

' consider themselves fortunate if £120,000 of available
assets can be recovered from the wreck ; the Union Bank
has refused payment of all considerable sums, but it has
not publicly avowed a stoppage. The produce-market
was stationary, and the tendency of prices was downwards.
The import trade was dull, though latterly there had been
a renewal of inquiry. Exchange had slightly advanced,
the market having been fairly supplied with document
bills. The last quotations are-6 m. s. with documents,
Is. 11d. to Is. Ild. 111 d. per rupee. in other descriptions
of paper little business has been done. Freights rose ss.
to 10s. per ton for dead weight shortly after the last
advices. At the enhanced rates business was done for
London, but to Liverpool could not be maintained.
The last quotations are £6 ss. to £6 10s. to London, and
£5 15s. to Liverpool, for sugar.
At Bombay there was a general dulness in trade. For
cotton goods the demand was limited, and the amount of
business d6ne was small. The Bombay cotton market
was in an excessively dull state. The rate of freight to
Great Britain had declined to £3 ss. per ton, at which
several engagements had been made, with a trifling one or
two at £3 7s. 6d., and which was the last range of rates,
and with a good supply of tonnage. To China engage-
ments were done at 14r. to 14ir. per candy, the latter
being the last quotation. The rate of exchange on Lon- -
don has advanced, bank paper being ls. 10d., Barings'
credits Is. 100. at 1, and local paper with shipping do-
cuments ls. 10Id. at Is. 10V. per rupee, six months'
sight, in all which transactions had been done. Three
months' sight bank paper was still ls. 9,1 d., and thirty days'
ls. 81d. per rupee. On Calcutta the rate is 991 r., thirty
days' sight ; and China 210 r. per 5100, sixty days' sight.
Mauritiu dvices extend to Nov. 25, when the news of
the home fliPures had not transpired, although one firm
in the island were understood to be in possession of im-
portant intelligence. Rice was 2.80 to 2.90 dollars per
bag.

Trade at Hong-Kong had been materially affected by
the excitement during the month. The quotations for
most of the staple articles of import were considerably
under last month's rates. The sales of raw cotton did not
exceed 10,000 bales, and prices had seriously declined.
The total export of tea from China to Great Britain, from
the Ist July to 30th December, is—black, 28,573,4101b5. ;
gree, 2,287,9201b5. ; total, 30,861,3301b5. The total ex-
port of silk during the same period was 14,819 bales.
Exchange on England, 4s. 41d for first class bills, others
4s. 4Ad. to 4. sd. A few transactions in Company's bills
on Bengal, and rates as high as 218 for accepted. Freights
to London £4 10s. From Shanghae our dates are to the
21st instant. Trade had somewhat improved, and long-
cloths 10c. better. Woollens without change.

LATEST INTELLIGENCE.

(BY EXPRESS.)

LONDON CORN MARKET.—YESTERDAY.
At this day's market there was only a limited supply of
English Wheat, which met a steady sale at the currency of this
day week. We had a better attendance of country buyers for
foreign, in which a fair extent of business was transacted at
about former rates.

lange to re

barrel Flour. The

pressure of Indian Corn, and sellers displgy greater firmness,
and but few floating cargoes now offering fdr sale.
The supply of Barley was rather beyond the demand, and
buyers had the turn in• their favour.
We have again a large' arrival of English Oats, and a slow,
dragging trade, although all descriptions are freely offered at a
further reduction of fully Is. per qr.
Malt, Beans, and Peas a slow sale, and Is. per qr. under last
week's rates.

SMITHFIELD CATTLE MARKET.—YESTERDAY.
Foreign stock were plentiful, but prices were well supported
The Beef trade was active at an ndvan PP A. 9- nay. Qll.

Calves moved off steadily at full prices
The Pork trade was far from active.

MONEY MARKET-YESTERDAY

- - •
The market for Public Securities has been very inactive this
morning, and but a small amount of business has been trans-
acted. Consols have been alternately buyers and sellers at 89f
for the account, but beyond that slight oscillation no change
can be noticed in the appearance of the market. Reduced
Three per Cents. have been done at 891 i; and the Three-and-a
Quarter per Cents. at 901 Bank Stock has been sold at 201
199. and India at 2421 4. The advertised Exchequer Bills are
quoted at 24, the June bills 29. and India Bonds at 7, p.m.

EXPRESS FROM PARIS

The arrangements for the Paris banquet have been de-
finitively made. It will take place to-day (Tuesday) at
noon, in the Rue de Chaillot. Negotiations between the
liberal Conservatives and members of the Opposition for
having the banquet put off, had, after some promise of
success, failed. The way from the Place Vendome to the
Barriere de l'Etoile, Champs Elysees, through which the
procession to the banquet will pass, will be lined by 10,000
National Guards, unarmed, but in uniform, and all sym-
pathisers.

The news from Italy is:important. The constitution has
been well received at Naples, and negociations were going
on favourably.

At Rome there was great agitation on the 11th. The
people want a constitution, which the Pope is not inclined
to give. Lombardy was generally agitated.

INDIA AND CHINA

We have received by extraordinary express from Mar-
seilles our letters from India in anticipation of the over-
land mail on the 15th of January. The dates so received
are from Calcutta to the 9th, Madras to the 14th, and
Bombay to the 16th of January. From China we have
intelligence down to the 30th of December last.

Lora Dalhousie, the new Governor - General, had
touched at Madras, and his arrival at Calcutta was hourly
expected when the mails left.
Among the last acts of Lord Hardinge's Government
was a notification, prohibiting, under the penalties of
imprisonment and confiscation of property, the perpetra-
tion of Suttee and infanticide in the territories of the
Punjaub. The notification further announced, that his
Lordship had directed his thanks to be expressed to the
Maharajah of Lahore, as well as to all those princes (23
in number, mentioned by name) who had co-operated
during the last three years with the British Government
in suppressing these cruel practices within their several
territories.

Another robber chief had been secured, named Ragojee
Bangria, lately as noted in the south of India as Doongur
Singh had been in the north. This man, with a numerous
band, had infested for some time back the Concan and
eastern routes from Bombay. After many fruitless ef-
forts, he was captured by Lieutenant Gell, who, disguised
as a Brahmin, traced the freebooter to the celebrated
shrine of Panderpoor, and, getting sight of him while in
the act of ablution in one of the sacred tanks, entered and
effected his capture.
• A smart shock of an earthquake was felt at Delhi on
the Ist of January.

The Scinde prize-money was about to be distributed,
the Royal warrant and order of the Court of Directors to
that effect having reached India. By the present arrange-
ment Sir C. Napier will receive a 1-16th share, or about
£27,000. His claim to the share of Commander-in-
Chief, or one-eighth, is still held in abeyance, to be paid,
if admitted; out of the proceeds not yet distributed.
An announcement is made by the Calcutta Star, that
a column 150 feet in height is to be erected at Calcutta to
commemorate the victories in the Punjaub, and that the
captured Sikh guns are to be set up in it, muzzle to muz-
zle, in fluted compartments; the summit to be crowned
with three figures—Britannia and two native soldiers.

A resolutiiin passed by the Governor-general in Coun-
cil, and dated the 31st of December, declares that cotton
shall henceforward be exempt from export duty through-
out India. It is hoped that the measure in question will
relieve the cotton trade of India. It must at least prove
an additional boon to the traders from India with China.
The late export duty of nine annas per Indian maund of
cotton, at the rate of value some years back, is said to
have been equivalent to a tax of from five to eight per cent.
Orders had been received in India from the Court of
Directors for the remittance home of X 500,000 sterling
in specie.
Our correspondent at Hongkong writes under date
Dec. 30 :

" We have this month to record a dreadful tragedy in
the horrid murder of six English gentlemen by. the Chi-
nese, about three miles from. Canton, on the sth of tnis
month. After church they went up the river, and landed
to take a quiet walk, and shortly after they found them-
selves attacked by a body of Chinese, and eut off from
their boat. In this attack, one or two of the party fell;
the others, being overpowered, attempted to escape, but
were taken at one of the villages and con ined. and, by
the evidence of the Chinese on the coroner's inquest, it
appears too true that, up to the morning of the 7th, they
were alive, when they were cruelly put to death. The
names of the gentlemen are—Mr. W. Rutter, Mr. Small,
Mr. Bellamy, Mr. Brown, Mr. Balkwill, and Mr. M` Carte.
A force was immediately sent to Canton, and his Ex-
cellency Sir John Davis went up in the Ikedalus to demand
redress. After much negotiation with Keying,, four
Chinese were executed on the 21st instant, and eleven
were under trial. Sir John returned here on tho24th,
having given Keying to the 20th proximo for his final
answer to his demands. It is understood that steamers
have been sent for from Singapore, and men-of-war
ordered down from the coast, to be prepared should any
coercive measure be necessary. All, however, may end
in negotiation. It is to be hoped every advantage
will be taken of the present state of matters to secure
permanent security for the future, seeing that hitherto
nothing but deceit has been practised by Keying, who has
been unable to controul the Chinese, though making the
English authorities suppose he had the ability to do so.

SUDDEN DEATIL—On Saturday night, about nine
o'clock, John Morris, seventy-three years of age, living.
in Horatio-place, went into, a neighbour's house, appa-
rently in his usual health. Soon after, while handing his
snuff.box to a female, he fell back in his chair and in-
stantly expired.
FATAL ACCIDENT.—On Saturday night, Ann Thomp-
son, aged sixty-four years, who resided in Back Bittern-
street, was crossing Park-lane, when a spring cart came
up, and the shaft striking her she was knocked down, and
the near wheel went over her body. She died on Sunday.
The horse was walking at the time. The driver and two
other men in the cart were taken into custody.
The great success of the introduction of Melton Mow-
bray pork-pies has given rise to the establishment of a
shop, in Commutation-row, for the sale of Birmingham
pies of the same material, which are not only excellent in
quality, but are made sufficiently small to suit every taste.
—See advertisement.
One of the splendid shops in Elliot-street, known as
Manifold Buildings, has been opened by Messrs. Hamilton
novela n d Co.in thev
ag trade.a pro t tyTphee
ostyle e
The abundant,
stock is various, and excellent.