New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1855-10-01


Il Co. The latter house consists OF T. 1. Barnum OF
Bridgeport Conn, and son OF Msees \. Besch, Of
The Sun newspaper of this City. The Alta California
Of the 9Th SAYS:
HTrvxn.y EyTxrSG, Sept. 4-We hsve very few
.ranscops of ANY importance TO record this evening
The attention of The merchants has been aimee. wholly
occupied by then .respondence and IN The settlement
of their accounis and the operators have had but
email show on California and FfOnt-sts. The iobbng
trade has also been light; but We notice some e0nsd-
cradle Transactions IN Hams, and IN one or Two other
classes of Provisions
Money has been exceedingly tieht to-day, and we
have 8 en- more shining than for many past steamer
days The fact has been that during the pat fort
MI ht al:houah not so much show hes been made dl;
inc " past two weeks preceding avery large busi
ress has been done, ard large number OF contracts,
involving very heavy sums Of money, nave mafursd
to day. The present scarcliy may Oe a.,io-ao'e ~
Outside causes bat we would again call the attention
Of the merchants 10 the necessity OF making some
alteration in the "seamer day system, which brings
the whole of fortnigbts business into the twenty
four hours prior TO the departure OF the mall ana NOT
onl, ircopyeIierces every body by the accumulation
of business but gives character of uncertainty to
operations which may at any time be productive OF
Vely bad results.
Bars have been in good request to-day at y
cent pre- MUM but we do not think so many were cold
ar for The last steamer The bankers say that less Ex
change has been drawn than was expected, but for
our own pslt we expect very heavy shipment.
The Lackavans and Bloomsbury Railroad, sbranch
OF continuation O. the Delaware, I.ackawans and
Western, extending from Scranton, Pc, southwestery
through the great anthracite coal region to Blooms
burg. about 60 miles, being built rapidly, the entire
grading masonry and bridging is already more than
half finished The rails have been contradiction, and
are now being built at the Scranton Iron Works The
Directors expect te have the northern division, from
Scranton 30 Nsnticoke dam, ready for superstrucure
by the fir. of January next. The road will De ready
for busness soon after the opening OF the eastern d.
vision OF the Delaware, Lackawana and Western
Railroad, and will afford outlet direct to this city
for the red ash coal OF Plymouth, az well as the white
ash Goals so abundant in the Wyoming and Lacka-
vsna valleys. This is very valuable road to New
Y0k.
The second advance in the rate of interes. by the
Bank of England appears to have taken the English
public by surprise. The London Times OF the 46th
says:
within the last ten years there has been only one
rreyous Instance Of sn advance Of the rate in two
consecutive weeks and that was in January, 1917,
wi en- the threatenngs OF the approaching panic were
suddenly becoming plain. Between the two periods
there If no resemblance for a. the presen, moment the
trade of the country az sound and healthy at any
time on record. Nevertheless there Is quite enou IN
10 Justify O repetition of the unusual course me ia
ze,te returns Of the last and present week will doubt
less exhibit dmnutions in the amount of notes unem
ployed and in the stock of bullion calculated TO excite
anxiety but fer the knog ledge now afforded preyi-
ously 10 their appearance that vigorous check has
been applied. Little question seems TO be entertained
that the Dstalu ent OF 900 sterling paid on the
Turk sh loan will forthwith be sent in soveregns to Con-
stan,iuople snd thai during the next FIVE months the re-
naming $4,000 600 will be dispatched in similar man
ner The Austrian arrivals moreover are still de aged,
only fl76 coo having been received out OF teOOOJO
tina; may be considered due; and finally the extraor-
dipsry frmpess of the Corn market in the face of a
satisfactory harvest az home and an unusual surplus
in the United States and Canada ba. disappointed all
expectations and led 10 the transmission of large or
des accompanied by specie, TO the Danube and else
where. Under these circumstances, the Bank had no
alternative in deciding upon furt1er and immediate
rise, espe tally as there was not the remotest pros
pect of its suddenness causing panic or incOnve
nience 10 sny quarter. Although commerce has late
" assumed increased activity, there are no signs of
undl sps cuaiion either in the manufacturing towns
or Oh the London Stock Exchange; and the news Of
the fail Of ScvGsouo has impaired feeling Of co1t
DE- nee the tfiect Cf which will be much more powerful
IL sustaIiT ade than that OF the present n0tnca-
ton in depressing il. There Ia, consequently, no rea-
son 70 depart from the conviction that everything
will GO on smoothly, that, if further meas
u es g. ould be requisite, they will not produce any
disturbance. Some penons are disposed 10 believe
that return to z cent will be adopted before the
close Of the year; but the drain of specie just wit
nessed has been go sudden, and has 80 evidently re-
suited from combination of unusual causes, that 4
will be against all experience II an early reacuon IS
not Witnessed
The Money market continues to manifest more
string mt aspect, the demand for accommodation both
at the Bank Of England and Lombard street being
very active. The Joint stock banks have simul,a-
neousy with the raising Of the rate of discount ad
varced their rates for fixed deposits, several now
allowing 81 = cent. The discount houses were un-
prepared for the step taken by the Bank, and have
received TO delay their decision regulating their future
rate of allowance for money al call. The arrivals Of
gold from Australia and TIE United States have been
moderate and chiefly taken FOR export to the Con-
tnent.
The return from the Bank of England for the week
end gthe sh Of September gives the following results
when compared with the previous week:
Public Deposits 81 Lleresss 80 $50
other Deposits i0sytseo decrease. IsSoo
Rest.....-................. Sb<I 30 DecFease SS3
On the other side OF the account:
Goverume 1t Secunes..sl3l Gee Decrease. 1900
Notes unemployeo....... 1870 Decrease. ~! 20
Other seeuIues...ss.'.' bOor<' Insresse'''' SH@io
The amount Of notes in circulation is 49, l42, lO5
being decrease of E962, 525, and the stock OF bull
lion in both departments is 114,2l7 &c. showing &
decrease Of ts2l ,742, when compared with the pre-
cedirg return.
English securities, under the influence of the sue
cesses of the Allies in the Crimea, were buoysnt in
the early part OF the week but, owing to the active
demand for money and the advance in tie rate Of dis
count by the Bank of England Consols have since
undergone q considerable decline. On Friday, 18th,
the first quotation Of Consols was 9os to for money
whence they went TO 9oi TO Z. The notice from the
Bank then caused fall 10 sO., from which there was
TO alteration.
The following table viii show the fluctuations in
Consols:
For Money. For Account
Sept Lowest Highest Closing. Lowest Hishes ClOans