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Leader (1850-1860), 13th November 1858, Edition 2 of 2, Page 27, ITltOiU THE LONDON GAZETTE, Tuesday, Nou...

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      Home, Colonial, & Foreign Produce Market...

      Tea . — Transactions have been wholly confined to the public sales which commenced yesterday . The total brought forward was 39 , 413 pkgs . Of these 2237 pkgs . were Assam , which sold with spirit at full prices . The China teas , on the contrary , met a very indifferent competition , there being scarcely a bid for . any but those Catalogued " without reserve . " Prices were , very irregular , but generall y , in the buyer ' s favour . Of 20 , 000 pkgs . which have passed the sale , 5 t ) 00 have sold ; 19 , 000 P kgs . remains to be brought forward on Monday . The stock of tea in the Kingdom , on the 1 st inst . was 66 , 224 , 000 lbs . against 73 , 514 , 0 O 01 bs . last year and the quantity afloat , 9 , 835 , 000 lbs . . against 11 , 177 , 000 lbs .

      >R,» I^I Nrwembee 13, 1858. 1 The Leader...

      > r , » i ^ i NrwEMBEE 13 , 1858 . 1 THE LEADER , 1235

      Money Market And Stock Exchange. City, F...

      MONEY MARKET AND STOCK EXCHANGE . CITY , Friday Evening . The Bank directors made no alteration in the rate of discount on Thursday , and this determination was passed over without comment , particularly from that section of the press which has been loudest in its vituperation of the conduct of the directors in declining to yield to interested clamour and resolving to adhere to a policy which is now admitted to have been founded on sound principles , and to have exhibited great foresight and prudence . We shall hear no more from this quarter about the Bank refusing to do business at the " market rate , " the fallacy on which such abuse was based having become perfectly and satisfactorily apparent .

      As far as concerns the money market , there is very little of real importance to communicate . At the beginning of tbe week there was a disposition in the money market to show weakness . The price of Consols ' receded about half per cent ., but on Wednesday a rally took place in consequence of information from ' Paris that- the Emperor had resolved to reduce the army , thereby giving to Europe a guarantee of his peaceable views . It must also

      be borne in mind that an . impression ' got abroad that certain large operators here and on the Continent had entered into combination to support prices . This gave an impetus to the market , and sent up prices all round . Not only the money market but the share markers were alike affected , and from the confidence with which business was transacted , and the bustle that occurred , an augury is not unreasonably drawn that further improvement will take place next week . t

      We have taken opportunities as they occurred o warn enterprising capitalists of the risk they would be likely to run by embarking hastily in new projects already launched , and ready to be launched on the money market . We have the satisfaction of knowing that our cautions have not been altogether without effect . We now call attention to the Suez Canal scheme of M . de Lessens . We do not hesitate to say that this would prove a very dangerous and doubtful undertaking for English shareholders . We put out of sight do not hesitate to say that in is wouia prove a very dangerous and doubtful undertaking for English shareholders . We put out of sight

      the question of the unpatriotic character of the project , which lias been clearly and boldly pointed out by Lord Palmcrston . We look at it solely in a paying point of view , and in its character as an investment for British capital . We have not a doubt on the subject . We think the project can never , from its own resources , yield a profit for outlay , and , further , we have not the least doubt , if Englishmen , embarked in it , that they would find they had littlo or no control

      over their property , and that the terms or the concession and the general rules of management would shut them out oljill inuuenco or weight in the direction of affairs . * A project of a different complexion is the now Indian ilailway . India wants railways , and an efficient railway system is essential not onl y to the prosperity of India , to tho development oi its vast resources , but to tho maintenance of our supremacy in that vast and populous region . Communications have been received on tho conduct of

      tho Government of tho colony of Victoria in dishonour * ing their guarantee on the Goelong and Melbourne Kailway . In about a mouth or six weoks an attempt will be inado in tho London market to commence putting into circulation tho first consignment of about 1 , 000 , 000 ? or 1 , 500 , 000 / . of tho 0 , 000 , 000 / . of debentures to bo issued by tho colony during tho next fow years for railway purposes , and nt that period tho subjeot may again porhapa be brought forward with advantage to the public .

      Accounts from Vienna describe a bettor fooling on the Exohango , the bank having paid in silver rather a largo number of notes of 1000 guilders . Tho total disbursed n specie h nald already to have amounted to more than

      150 , 000 ? . At the same time , the most strict measures are enforced to prevent any exportation of coin , The preliminary prospectus is issued of a new project , entitled the " Palace of the People . " The idea is to erect on Muswell-hill a kind of u Crystal Palace" for the inhabitants of the north of London , but the objects set forth are to be attained at "less than one-half of the cost of the Crystal Palace at Sydenham . " We shall give attention to this project in order / to ascertain whether capitalists can safely support it . Advices from Constantinople state that the funds hitherto received by the Turkish Government on account of the recent loan have been employed in redemption of proportionate amounts of the paper currency , which will be duly burnt from time to time .

      It has been stated that another large call upon the shareholders of the Western Bank has been resolved upon . We are authorised to state that the rumour referred to has no foundation whatever . The last call of 100 / . per share has already produced about 900 , 000 / . As regards the reported discoveries of gold in the province of San Luis , in Buenos Ayres , it is perhaps requisite to receive with caution the statements circulated on the spot . The rates of exchange from Calcutta and China show a fresh , advance . At Calcutta it is equal to about 1 per cent . ; at Shanghai to about li ; and at Canton | per cent . The amount of silver to be despatched to India and China by the packet of the 20 th inst ., in some quarters is supposed will exceed 400 , 000 / .

      Considerable sensation has been occasioned at "Vienna by a decision of the Bank not to discount until further notice any bills but those drawn and accepted within the Austrian dominions . The aim of the Bank is evidently to discourage all attempts on the part of foreign markets to draw back the silver which has been so laboriously piled up in the Bank . The quantity of gold brought into the country this week is nearly three-quarters of a million . About as much more is known to be en route from various places . The exports of gold have borne no proportion to the receipts , though the quantity sent out shows that a growing demand for gold for export is manifesting itself . '

      The demand for silver for the Cast is becoming lively . This is to be expected ; but we hay < no fear that Europe will soon feel a dearth of this precious metal if the efflux is not checked . The Bank of France return for the month ending Thursday has been published . The changes it presents are important , showing that the demand for discount accommodation has sensibly increased . A larger quantity of commercial bills have been , discounted , and loans on public secui'ities have been increased . Gold has been withdrawn , but the total still amounts to 21 , 056 , 624 / ., a falling off of 918 , 392 / .

      Bank Of England. An Account, Pursuant To...

      BANK OF ENGLAND . An Account , pursuant to the Act 7 th and 8 th Victoria , cap . 32 , for tho week endim ? on Wednesday , the 3 rd day of November , 1858 . ISSUE DEPARTMENT . £ ' £ Notos issued 32 , 310 , 415 Government debt . 11 , 015 , 100 Other securities ... 3 , 459 , 000 Gold coin and bullion 17 , 811 , 415 Silver bullion ; £ S 2 , 310 , 415 £ 32 , 310 , 415 BANKING PEPABTMENT . £ . £ . Proprietors capital 14 , ( 553 . 000 Government secu-Rost 3 , 140 , 002 rities ( including Public deposits ( iu- Dead Weight Aueluding Excho- nuity ) 10 , 808 , 501 qucr . Commibsion- Other Securities . 14 , ( 507 , 722 ors of National Notes .... 11 , 327 , 380 Debt , Savings' Gold and Silver Banks , and Divi- Coin 001 , 412 Uond Accounts ) .. 0 , 673 , 581 Other deposits 12 , 21 ) 0 , 682 Seven Day & othor Bills 837 , 750 4237 . W 0 . 103 £ 37 , 405 , 105 M . MARSHALL , Ohiof Cashier . Dntod tho 11 th day of Novombor , 1858 .

      Itltoiu The London Gazette, Tuesday, Nou...

      ITltOiU THE LONDON GAZETTE , Tuesday , Nouember 9 . BANKRUPTS . James Rusarcrx , jun , Aldersgute-streot , stationor . Giconaic Hunt , { Southampton , trunk-maker . Fhkuiciuok CuAnnca Blaynky , Warwick-square , City , bookacllor . Isaac Samuels , Gravesond , leather seller . Thomas Waitd } , Tunbridgo , saddler . John Stuhk , Wolvorhumpton , commission agent . Wiu-iam Adajih , Exotor , glovo manufacturer . William Moomc , Bradford , Yorkshire , innkeeper , SCOTCH SEQUESTRATIONS . WiLtiAwc Coohran , Kilmarnock , tanner . Alibx . Fbuciuson , Glasgow , manufacturing jewollor . SwAinnoK and Muixkh Glasgow , comcalasion agents .

      George Parker , Airdrie , lieutenant in the 1 st Roy ; Lancashire Militia . James Brown , Glasgow , merchant . Alexander Laird , Motherwell , innkeeper . James Wateuston , Edinburgh , wine merchant . Friday , November 12 . BANKRUPTS . Charles James Francis and Henby Fbeer , Grea Saint Helens , wine merchants . Thomas Palmer Branson , Loughborough , Leicester shire , grocer . Emmanuel Marie Manchin , Exeter , tailor and draper Joseph Barnes , Chippenham , Wiltshire , coal merchant Charles Collins and Wm . F . Collins , Sloane-street Chelsea , drapers . Edward Hale Hogg , North Shields , shipowner . Job Mimmack Smith , Lincoln , draper . James Hunter Livingston , High-street , Whitechapel licensed victualler . Thomas Hejiingsi , ey , Willenhall , Staffordshire , cu nail manufacturer . Robert Clayton , Deansgate , Manchester , boot ani shoe maker . Thomas Livingston , Homerton , Middlesex , licensee victualler . Richard Thomas , Conway , Carnarvonshire , shi f builder . SCOTCH SEQUESTRATIONS . Parrock and Dawson , Glasgow , clothiers . Dasiel Menziks , Dunfermline , grocer . Robert Nesbitt Riddell , Fort William .

      Anglo-German Submarine Telegraph.—The La...

      Anglo-German Submarine Telegraph . —The laying of the electric cable , joining England to Germany by the North Sea , being 300 miles long , was successfully accomplished on the Hanoverian coast on Saturday . Projected Anglo-Tunisian Bank . — It appears from a Tunis letter that considerable jealousy exists among the French there about a bank which some English speculators from Gibraltar propose to establish , and to call the " Anglo-Tunisian Bank . " The French have no objection to the bank , but they don ' t like the name . The French element , they say ,, predominates in the trading of Tunis , and it is not fair that a bank intended to serve the commerce of all nations should be

      inaugurated under the exclusive patronage of England . The Bey has issued a circular announcing the formation of the undertaking . The return to Tunis of M . Roches , the French consul , was expected oh November 4 , who , it is said , has so much influence with the Bey , that whenever any project is submitted to his Highness his constant answer is , " Yes , it is good , " but he instantly adds , " Inch Allah ( if God wills ) , " and he only adopts the designs of Providence after having consulted the Frenchman . The Isthmus of Suez Scheme . —Prince Napoleon ' s name appears at the head of the subscription list for carrying into effect M . Lesseps ' s scheme , which undertaking has been lately puffed to an enormous extent . Saturday was the first day of the public subscription in Paris . The report that the English Government has withdrawn its opposition to the project is , without doubt , untrue . >

      Postal Subsidy to the Galway Line . — Lord Bury has concluded the terms of a subsidy with Newfoundland and the Imperial Government conjointly for that colony . It is understood that this commencement has been made on the most liberal scale , and wo have reason to believe that the future operations of Lord Bury with the remaining colonies will be conducted to n similar issue . It may , therefore , be considered that tho Atlantic Royal Steam Navigation Company is now in a position to compete with all , or any , lines of transatlantic steamers . Lord Bury is at present negotiating with the United States Government and the rest of the North American provinces .

      Hop Duty , —On Friday a meeting of hop-planters was held at Tuiibridge-wolls , the Hon . H . Brand , M , P ., in tho chair . After some discussion , it was agreed unanimously that a memorial should be presented to the Chancellor of the Exchequer in favour of a total repeal of tho excise duty ; and a deputation , which all the Sussex Members of Parliament will be invited to join , will present it nl the earliest convenient opportunity . Amendment op tih & Bankruptcy Laws . —On Monday a meeting of City morchants was held at the London Tavern , Bishopsgnto-street , to consider tho Bankruptcy Bills introduced by tho Lord Chancellor and Lord John Russoll during the last session of Parliament , and to

      try to obtain a satisfactory amendment of the bankrupt laws . Mr . J . Russell , secretory to tho Mercantile Law Amendment Sooiety , explained tbo nature of the two bills above mentioned ; and Mr . Samuel Morley , after commenting on tho propositions put forward in tho two bills , moved tUat a committee bo appointed to considor , with especial regard to tho interests of tho mercantile community , tho two bills thus introduced , and to report on tho goneral subject of bankruptcy and insolvency to a public meeting to bo hold on a future day . lue motion was carriod nem . con ., and thanks to tho chairman closed tho proceedings . Australia * Wind . — The Adelaide Observer refers in a tone of exultation to the prospocta of the culture of

  • Citation
    • Leader (1850-1860), Nov. 13, 1858, page 27, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_13111858/page/27/