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Leader (1850-1860), 7th August 1858, Edition 2 of 2, Page 26, MINING- INTELLIGENCE. "W12 havo already ...

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      General Trade Report. London, Friday Eve...

      complaint of profits being absorbed by the turns in the market for the raw material at Liverpool . Both yarns and cloths have been in more active demand . For some kinds of twist , spinners lave" been willing to take last -week ' s prices ; but in most descriptions jd . per lb . advance has been obtained . Cops have advanced Jd . per lb ., and mule yarn for India is id . per lb . dearer . Indeed , the character of the Bombay letters received on Monday was such that numerous transactions were immediately entered into for India . Large purchases have also been made for the Mediterranean ; and the German

      demand , the remarkable character of which was noticed last -week , is not yet satisfied . Printing cloths and India and China shirtings are readily saleable at an advance of l ^ d . per piece . Long-cloths and T .-cloths remain in good demand . ; madapollums and jaconets are also firmer . Generally speaking , the terms for manufactured goods are in favour of the producer , and they appear likely to continue so , inasmuch as the Foreign inquiry is increasing , while stocks at home are not materially in excess of the ordinary consumption . At today ' s market the same general features prevailed , and a very fair amount of business "was transacted .

      The sales of cotton at Liverpool during the week amount to 69 , 000 bales ; by far the greater part has gone into consumption . Only 55 i ) O were sold fox export . Spinners have discovered that , in the present state of the market , cdmbined with the accounts from the United Stat es , no advantage Is to be gained by waiting , and they have been content to pay idL per lb . higher for their requirements . The-woollen trade in Leeds and the vicinity is still Satisfactory , the factories being almost fully employed , wMle manufacturers have little difficulty in finding markets for their goods . The chief inquiry is from the home trade , letters from the United States , however , lead to the expectation of large orders for woollen goods

      For that market in the course of a few weeks . Already there is a better demand for Canada and Australia , but the latter trade is not , at present , thought much of . At the market last Saturday , and again on Tuesday , transactions were not numerous , but full prices were obtained ^ , and certainly as muck business was done as is usual at the end of July and in the beginning of August . The flax trade is improving , but the scarcity and the high price of the raw material impede operations . The leather trade is springing into great importance in this town , and it is prosperous , and would be more so were the raw material accessible at more reasonable rates . The machine and locomotive manufactories are fully employed .

      The -worsted trade at Halifax is moderately active , and rather better prices are being obtained For Coburgs , Orleans , and other mixed goods , as well as for all-wool fabrics . Tarns are in good production at previous rates . The high price of wools is preventing accumulation of stocks either of yarns or goods , spinners and manufacturers buying only for immediate wants . In Huddersfield the prospects of trade for the remainder of the year are good . At this week ' s market there has been an evident increase in the amount of business transacted . There las been a brisk demand for various descriptions of cheviots , tweeds and twists in various colours and qualities , and few of thes * -. oods remain on hand . The cheviot trouserings are now oeing

      manufactured in low woollens and cotton warps at prices as low as 2 s . 9 d , and 3 s ., and these goods are a very dose imitation of the goods in superior qualities usually Bold at from 4 s . 6 d . to 5 s . pel yard . The shipping demand for low woollens and unions is gradually improving , and large quantities of mixture and check patterns in these goods are being readily sold , as also the sixquarter union mixtures for cloakings . The demand for black doeskins continues steady and improving ; more especially in the piece dyes at 3 s . 6 < 3 . to 3 s . 10 d ., and in wool dyes from 4 a . 6 d . to os . 9 d . per yard . The superfine trade of this district is also progressing satisfactorily , and the demand is good for both black and

      coloured broadcloths . The sales of blue cloths in various shades for coach linings , liveries and uniforms have been larger this season than any previous one in recent years . Prices in all departments of trade in this market remain firm , and cheap lots of any kind are exceedingly few . The country trade continues quiet , the great bar to increased sales being still , we believe , tho generally observed tendency of drapers and tailors to shuffle payment of due accounts . This serves to check effectually any inclination to press for an increase of orders , and acts prejudicially in many ways . Stocks of goods of all kinds in the Cloth-hall axes not larger than usual for tho season , having b « en considerably reduced during the last few weeks .

      At Bradford some , extensive orders hnvo been received on Russian account , which must be completed before the frost sets in . Other orders on foreign account have been received to a large extent . The home trade is also more active . The staple trade of the district is therefore satisfactory , and tlie prospects of its improvement aro more general and more decided than they wore a fortnight or three weeks ago . Orleans and Coburg goodB are in good demand . Uusiness has increased in English -wools , > and the demandH of tho spinners have imparted firmness to prices , particularly of good brighthaired sorts . Manufacturers have in a great decree got over their recent etiugglcfl j and there is every reason to

      anticipate that this season -will remove all their difficulties . At the market yesterday the general tone and disposition was very good . The Glasgow markets have been showing an improved feeling all the week . From Nottingham and Leicester -we hear that an average business is doing , plain goods being most in request . Norwich manufactures arc coming rapidly into notice again , a . very favourable change having taken place in the course of the last fortnight . Both the mills in this town -which spin yarns are in full operation , and there is a good demand for spun mohair For France and Germany , independent of that for home consumption .

      The accounts from Belfast of the linen trade continue perfectly satisfactory . For handlootn linens , and man ufactures there is a very good inquiry , especially for 4-4 th light fairies and the lower Set 3 ; and the tendency is towards higher prices . Diapers and drills are in small supply , without change in demand . In lawns more business doing at firm prices . Handkerchiefs still dull of sale . Goods for hollamls and dyeing still sought after at full prices . As to power-loom makes tlie accounts are much the same . For drills there has been a better demand than for some time past , and stocks are decreasing . Heavy linens are in limited request , owing

      to the firmness of manufacturers , tbe cost of production having been increased by the advance on yarns . In light linens for bleaching a fair demand exists at steady rates . In cambrics and handkerchiefs there has been a moderate business . For lawns there was an improved sale , aad stocks are decreased . Prices are still low and stocks decreasing . For roughs there has been a steady sale at an advance of id . to id . -per yard . In -unions there -was more doing at a little better than late low rates . In white linens both the home and foreign trades are active , and prices are firm , owing to bleachers not being able to replac « goods at former rates .

      At Dundee the demand for yarns has not been so brisk as could be desired , but prices continue about the same . If anything they are ratter firmer . In some descriptions of linens a good deal naore business has been done . The flax market here is still showing an upward tendency , and a good deal of business has been done both in goods arrived and to arrive , at gradually improving prices . The demand is chiefly for the better descriptions , but . common qualities are also sought for . The accounts from the foreign markets still show great firmness in the raw material . The quality of the new Archangel flax is stated to be very good . Fine tows are wanted , and jute is in fair demand .

      The circulars issued , by the leading silk brokers state that a large business lias been done in silk during tbe past month , inwhichpurckas . es for the Continent have materially assisted ; the unsatisfactory prospect of the new crop , and consequent advance in prices of European silk , rendering the cost of China silk comparatively very moderate . Although higher rates have been paid in some instances for choice parcels , - \ ve cannot quote any general advance in the prices of Cliina silk . Should the markets remain in the same relative position , we may

      fairly look for a continued good demand for export . The deliveries are the largest on record , being 8585 bales . Some small musters of the new silk had reached Shanghai , the quality of which , is reported to be good , and the size rather finer than tbe old silk . In Bengal silk there has been more , business done , the finest and best filatures being beneficially affected by . the high prices of Italian silk . In Italian silk there has been a consider , able improvement during tie past month , every bale of thrown that arrives "being readily taken at advanced rates .

      The hardware trades are still extremely quiet . A few country orders are described as ha-ving been sent to Birmingham during the week , but they are small , as dealers aro limiting themselves to bare additions of articles to stock , even of such as are in general use . The like spirit of caution is observable amongst consumers , who are contracting their purchases in every direction . In the agricultural districts business is very much suspended by harvest operations . This and other causes continue to exercise a chilling influence upon tho home trade . As regards Birmingham , complaints of this nature have seldom been so general as they arc at the present time , and that these are not without foundation is evidenced in various ways , all tending to their confirmation . The very slight degree ef improvement which has been observable in some brandies ia attributable to n

      few foreign orders , tho principal of those now on hand for export beingfor the north of Europe . In this branch of tho foreign trado there is some degree of activity in completing ordora for shipment whilst tho navigation is open . Tho South African trade is also moderately pood . The Bamo may be said of tlio West India trade , tho crops in that quarter having turned out , favourably . In the adjoining district of South Staflbrdahire trado lms not recovered to the slightest extent . At Wolverhampton , business has not been so dull for years na it is « t tho present time . Tho iron trade is without improvement . It is only beat brands of finished iron for which there is ny inquiry , and wo seo no immediate prospect of tho trade becoming more brisk . That it will recover hi time there can be no doubt ; and it is bottcr that tho progress should bo slow than that wo should havo a return of tho artificial prosperity which characterised tho trudo for

      twelve or fifteen months prior to tlie collapse wMi * " * curred last year . The quotations fox best S SV ^ undergone no chang-e , but very few sales havf VV * place this week . In Staffordshire there are ™ - en immediate improvement . During the month of ? , i ° things were worse than in June ; but considerublfni y arc expected from South America and tlio wntinSj ^

      786 The Leader. [No. 437, August 7 I^S

      786 THE LEADER . [ No . 437 , August 7 i ^ s

      Railway Intelligence; The Markets For Es...

      RAILWAY INTELLIGENCE ; The markets for established lines , and for lines course of construction , havo been very good all rou * h Last week wo noticed the improving tone of the mark *™ and our anticipations of a rise has been confirmed brT ' upward movement generally in prices , an * an inched bonujtoe demand on the part of the investing public 1 here can be no reasonable doubt of railway slices even tually taking the very first rank as permanent invest ments—ranking even before the public funds—becniw railways have a substantial foundation , and have the prospect of increasing dividends , while the funds rest upon nothing- but public faith , and the interest is fixed The only drawback against unlimited confidence in railways is the unsettled and contradictory condition of

      legislation which has special regard to railway P-ir liament is at the root of all the distrust " on the public mind , and all tlie positive mischief which lias of late years been inflicted on railway interests . Next session something is . to be done to remedy the existin " discreditable condition of things '; but we confess looking at the composition of the committee , v , c have very little faith in anything being proposed which wilL really meet the mass of evils , absurdities , jobbing , and injudicious decisions , which . have operated so disastrously on railway interests and railway progress . We shall , how . ever , do the best in our power , from time to time , to point out the prominent evils of the present system , ; v : d to offer such suggestions as will , we think , meet the worst portions of the mischief .

      There has been some fluctuation in the prices of the shares of several of tlie leading lines , owing to reports of reduced dividends ; tut the markets , after a slight depression , have resumed their original position , ' .-with ' a tendency to farther improvement . Our reading of the markets is that a gradual . and . steady advance " in railway shares will occur . Dividends . — -The Great Northern Railway Company officially announced at the rate of 3 £ per cent , per annum . on the original stock , and 3 / . 7 s . Gd . on the li stocky towards the G per cent , for the year . Bristol and Exeter Railway will be at" the- rate of 5 per cent , per annum , against the same rate at the corresponding period of last year ; and Soutii Devon Kailway stock at the rate of 1 per cent , per annuuin , against 11 . 12 s . 2 £ d . per cent , per annum last year .

      Midland Railway Company officially announced at the rate of 4 ^ per cent , per annum , against tlie same rate for the corresponding six months of last year . London and North- "Western reported at : Y \ per cont ,, but nothing known officially . Tho London and Blackball Railway Company recommend the'payment of a half-yearly dividend of 2 ? . ' . HI . per share . Tho dividend on tlie stock of the North London Ilailway Company is also officially announced at the rate of 5 per cent , per annum , showing an increase of J percent . over that declared for the corresponding six mouths ol last year .

      Indian shares hnve been in considerable request throughout tlie week , and several companies in progress have liad their shares quoted at a premium . Higher prices arc generally expected , ispi-cially in all the guaranteed linos . Foreign shares were generally hotter , hut there , aro very few buyers . Some of the l-Ycneli sluuvs were quoted at a higher figure , but there is very little doiii £ , and the public appear to distrust tlicse securities American shares wore in favour , and goin { £ up . (> r « nt Western of Canada shares in demand .

      The Cupe Town Railway nnd Dock Company have nt length concluded their arrangements with the colonial government , and have obtained a guarantee- of . six jior cent , for fifty years . Interest ; at this rate will silao , we aro informed , bo paid upon the company ' s capital dining tho progress of tho works .

      Mining- Intelligence. "W12 Havo Already ...

      MINING- INTELLIGENCE . " W 12 havo already slated thnt wo deal ¦ with mines in doubt . Tho mining interest is one of tho moat important interests in tlio wholo circle of our coiniiu'iviiil rulationa , nncl yet so much mystification , ini / repiv . seiitation , and unfair dealing is connected with mining operations in what is termed tho mining inurla-. t , tlinL we IVul reluctant to do nioiv , hcbdomndly , thiin to advert ( o alleged transactions and nominal prices i \ h they coino K > us from thoordinary rtuiirces of information . Tlio moneyed man , if ho determine to try his fortune in mim-M , ou , i ; lit to tnlto no stop on his own judgment or infoinmi ii » n tlwit may bo communicated to him ; his only security is t 1 rely on tho udvico of respectable and cximtkiio d iniiiin ; . V brokow , and not entirely on that . We shall mnUo an

  • Citation
    • Leader (1850-1860), Aug. 7, 1858, page 26, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_07081858/page/26/