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    92 THE It E A D E U [Kp« 460, January 15...

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    FROM THE LONDON GAZETTE. Tuesday, Januar...

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    sounder will be our trade . In this resp...

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  • Note: This text has been automatically extracted via Optical Character Recognition (OCR) software. The text has not been manually corrected and should not be relied on to be an accurate representation of the item.

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    Review Of The Week. Mincing-Lane, Friday...

    morning , and last . week ' s prices were not supported . Beef sold at 2 s . Sd . to 4 s . ; Mutton 2 s . lOd . to 4 s . ; Veal 4 s . to 4 s : 8 d . ; Pork * 3 s . to 4 s . per stone , by the carcase * . Sugar- —Good grocery and' refitting kinds have met a ready sale at extreme prices to 6 d- ' advance ; low soft sugars are , however , without improvement , but the general position of the marketfappears exceedingly healthy . The show of West India has been small , and East

    India has consequently been taken off more freely . Benares have sold at 45 s . to 47 s . 6 d . ; Cossipore , 46 s . 6 d . to 47 s . ; Gurpattah date , 4 Qs . to ; 43 s . 6 d . ; Madras , grainy yellow , 44 s . to 47 s . ; Siam , at late rates , Manilla , unclayed , 32 s . Gd . to 35 s . ; clayed , 38 s . to 39 s . ; foreign Muscovado , brown , 35 s . to 38 s , Gd . ; yellow 40 s . to 44 s . 6 d . ; Havannah yellow , 40 s . to 43 s . 6 d . ; flortts 47 s . 6 d . to 48 s . 6 d . Floating cargoes have met a moderate inquiry , but only one has changed hands , quality No . 9 £ , at 27 s . per cwt . U . K . been ht fo

    how much may be still open . No opinion can reasonably be . formed at present of the prospects for next season ; the Russian supply is estimated by some parties at ' liO , OO 0 to 115 , 000 casks , but the English make , which is the most important part of the question ^ must be uncertain for several months to come . The last price at St . Petersburg was 162 ro . on the spot , 166 ro . for August , 10 down ; exchange , 36 | . To-day we quote Y . C , 53 s . spot ; 53 s . Feb .-March ; 53 ? . 6 d . March buyers ; 5 Is . 9 d . to 52 s . April-June ; market firm Oct .-Dec , 51 s . 9 d . to 52 s . » The public sales today went off briskly at full prices . Of 850 cks . about 600 sold . Australian heef , 44 s . 3 d . to 51 s . ? d , ; sheep , 51 s . 6 d . to 52 s . 3 d . ; South American , 50 s . 6 d . to 53 s . 6 d . ; East India , 53 s . 3 d . to 64 s . ; Archangel , 51 s . 9 d . to 52 s . Tcnvn tallow , 55 s . rough fat , 2 s . 10 id ., melted stuff . 38 s . 6 d .

    Coffee . —The recent imports have broug rward freely , but there have been sufficient orders in the market to effect a clearance at full prices generally . Native Ceylon coffees have realised rather more money , and fine marks uf plantation have gone exceedingly dear , ranging from 81 s . to 94 s . 6 d . ; small coffee of good quality brought 68 s . to 70 s . ; middling and good middling , 73 s . to 768 . 6 d . ; good ord . native , 52 s . to 53 s . ; fine ord ., 54 s . to 54 s . 6 d . ; superior bold picked , 56 s . 6 d . to 57 s . 6 d . j Madras low mid . to fine , 67 s . to 82 s . ; fine ord . Tellicherry , 66 s . 6 d . to 68 s . per cwt . There is still an inquiry for floating cargoes on continental account , and one of Bio was sold early in the week at 47 s . for regular firsts . . ' . ¦¦¦ "¦ ¦ - . . ¦ .: Cocoa is extremely unsaleable , and the parcels brought to public sale , including both Trinidad and Guayaquil , were passed without eliciting a bid .

    Rice , —Considerable supplies , reaching 41 , 000 bags , which were all placed at steady prices ; ord . to mid . Rangoon , 6 s . 2 d . to 6 s . Cd ;; good , 7 s . 6 d . to 8 s . 6 d . ; mid . to good pinky Madras , 7 s- Gd . to 8 s . ; mid . to good white Java , 11 s . to 12 s . 6 d . Bengal rice remains out of demand , but is steadily held . Accounts from Calcutta represent a continued absence of shipments . SpicEs . —Black pepper has sold laTgely at TstifFer prices , especially for : export kinds ; Malabar brought 4 d . to 4 ld . ; Sumatra , 3 | d . to 35 d . ; Penang , 3 ^ d . to 3 | d . ; white popper is easier , Singapore and Penang having sold at 8 d . to 8 # d . ; Nutmegs declined Id- per lb :, but sold readily at the decline ; small to good , Is . 4 d . to 2 s . 6 d . Mace , Is . 2 d . to 2 s . Id . Pimento , steady at 2 jd . to 3 jd . for ordinary to good ;; mid . Zanzibar cloves realised 2 | d . to 3 d ., being the full value .

    OiLS .- ^ Linseed , on the spot , has declined 292 . 5 s . ; for future monthly deliveries there are few sellers under 30 / ., but this price is not obtainable . Rape oil meets a moderate sale at 46 / . 10 s . to 47 / . for foreign refined , and . 43 / . for brown ; English brown , 41 / . to 41 / . 10 s . ; Bombay ground nut and Gingelly , 357 . ; Madras , 39 / . ; Niger oil , 35 / , to 36 / . ; Olive very unsaleable , and offers at 45 / . to 457 . 10 a . for Mogadore , 48 / . for Spanish , and 50 / . for Gallipoli ; Cocoa-nut has advanced 10 s . to 20 s . per ton ; Ceylon , 39 / . ; Cochin , 40 / . to 43 / . Palm oil has risen to 41 / . 15 s ., influenced partly by the advance in Liverpool , and partly by the rise in tallow . Common fish oils remain dull of sale—pale seal at 36 / . 10 s ; pale southern at 34 / . ; and cod at 31 / . ; but sperm is in , request and sold in auction at 90 / . to 96 / . per tun .

    WjiAtn Fxns . — -Prices are nominal , Davis Straits , 520 /; Polar , 550 / . ; North-West , 470 / . ;\ Southern , 420 / . to 430 / . Turpentine . — -Prices advanced to 40 s . 6 d . to 41 s from a rumour of considerable purchases , but the terms of these purchases having proved lower than had been expected , the market has again receded , and 40 s . is the highest ; offered , whilst there are sellers at 40 s . Gd , per cwt . Rough , 108 . to 10 s . 6 d . Safflowbr has declined to 20 s . per cwt . Shellac is dearer . Ord , D . C . orange sold at 85 s ., and good button at 100 s .

    Metals .- —A moderate business is passing in manufactured iron at Iato rates . Scotch pig declined to 58 s . Copper advanced £ d . per lb . on sheet , and 5 / . per ton on rough cake ; Burra hold for 116 / . Banca tin is dearer ; 181 / . paid early in the week , and still higher prices said to have been given to-day . Cotton . —Prices have receded id . per lb ., and the week ' s sales are confined to 1400 bales . At Liverpool business has also been dull , and prices quoted 1-16 d .

    down . Tba . ~—Business has been susponded during the week , the telegrams received on Monday having induced the trade to await the full details before operating . To-day a Bin all sale of common congou was made at ll ^ d . Sajmopbtrb . -- / The threatening aspect of political affairs on the Continent has strengthened , the market , and about 3000 bga . have sold on rather better terms . 81 to 8 per cent ,, 89 s . 8 d . to 42 b . per cwt . Calcutta J otters report considerable supplies awaiting shipment .

    TAr ., r , owv- ' -TJhero has boon a . good demand for consumption , and the market has been firm , with an improvement in price on the spot , of Oil . to Is . per owt . Many contracts , fpr delivery to the end of March have boon closed by settlement , but It Is'not possible to say

    92 The It E A D E U [Kp« 460, January 15...

    92 THE It E A D E U [ Kp « 460 , January 15 , 1859 .

    From The London Gazette. Tuesday, Januar...

    FROM THE LONDON GAZETTE . Tuesday , January 11 . BANKRUPTCIES ANNULLED . Alfred Critchell , Upper Dorset-place , Claphamroad , cabinet maker . Hexky Cheluxgworth , Park Attwood , near Kidder-| minster , maltster . " i JOINT-STOCK COMPANIES WINDING-UP ACTS . The Maresfield Patent Gunpowder Company ( Limited ) , proof of debts , Feb . 2 , at 1 o ' clock , at the Bankrupts'Court . . The British and Foreign Smeltin g Company , for Winding-up , to be heard , Jan . 20 , at 2 o ' clock , at the Bankrupts' Court . BANKRUPTS . Tilden Chrismas , Sheemess , coal merchant . Eli Wainwright , Earl-street , Kensington , corn chandler . . Henry Rogeks , Bradford , Yorkshire , milliner . Charles James Hill , Birmingham , grocer . Walter Lodge , Alrnondhury , woollen manufacturer . Joseph Woolf , jun ., Manchester , small ware manufacturer . . SCOTCH SEQUESTRATIONS . James Bruce , Hillhead , Glasgow , builder . ; Roderick M'Donald Scott and Thomas Edmond , Glasgow , oil . and commission merchants . . . Malcolm M'Intosh , Portree , general merchant . Alexander M'Dougal , Killiernan , Ross-shire . Jajies Martin , Goldenberry , West Kilbride , farmer .. James Fleming , Leith , grocer . John Inglis , Glasgow , wright and builder . Walter Edgar , Glasgow , grocer . John Listek , Edinburgh , advocate . Friday , January 14 . ¦ - •' BANKRUPTS . Thomas Bakon , Sloane-square , Chelsea , printer . Matthew Henry Cowell . and Charles Brock , Southwark , brewers . John Symons , Manchester , commission agent . John Davidson Newbold , Lincoln , toyman . Henry Parry , Capel-Cerrig , Carnarvonshire , draper . Joseph Sharp , Metberingham , cattle dealer . William Burbidge , Birmingham , com dealer . William Limbrey , Dunstable , grocer , George Manby , Sudbury , Suffolk , licensed victualler . John Peter Flint , Sheffield , plumber . James Turner , Warsop , Nottingham , miller . Henry Barriok , Homerton , shipowner . William Tinker , Newington-causeway , Surrey , and Oxford-road , Manchester , carriage-wheel manufacturer . William Smith , Weston-super-Mare , Somersetshire , builder . Thomas Brewtn Turnell ( and not Furnell , as advertised on 7 th of January ) , draper , York . SCOTCH SEQUESTRATIONS . John Howden , Stornoway , insurance ngent . John Douglas and Archibald M'Millan , Glasgow , shawl manufacturers ,

    Sounder Will Be Our Trade . In This Resp...

    sounder will be our trade . In this respect the experience of other nations corroborates our own . The comparative security of French commerce during the late crisis was no doubt greatly owing to the modified nature of its credits ; and , on the other hand , the disasters which overwhelmed the commerce of America were as certainly the result of an exaggeration credit system . Ever }' - where the stability of commerce is in an inverse ratio to the development of credit . But the abuse : of mereatitile credit could not exist to any greater extent were it not fpstercd by the abuse of banking credit .. Traders could , not give excessive credit unless bankers supplied them with the means . The great fault of modern banking ia the insufficiency of reserves . The insufficiency of banking reserves is the immediate cause of our panics , and

    one great cause of insufficient reserves is undoubtedly the high rate of interest allowed upon deposits . Viewed as a Whole , our present credit system appears eminently insecure . Our Whole credit system is an inverted pj-ramid . Your committee does not look for any legislative remedy for the abuse of credit . The cure must be found in the more honest and intelligent appreciation of their duties by all ¦ ¦ who either give or take credit . " Mariquita and New Granada Mining Company . —A general meeting of this improving concern was held at the London Tavern on the afternoon of the 7 th inst . The Directors have now 1084 persons at work , and the balance of assets in favour oif the company in Londo n being i 2 , 296 ' . A dividend was declared of Is . Gd . per share , free of income-tax .

    Free Trade in France . —A small extension of free trade has just taken place in the French customs . Some minor articles , particularly necessary to promote French industry , have been declared free , of duty , lint even this advantage is clogged with discriminations relative to origin and flag . For example ' ^ rough - ' iewn timber for building , the most important of these articles , is only to be admitted duty free when brought in French vessels . These are changes which the . French Protectionists themselves have demanded . Russian Finances ^ - — The Oestprrcichische Zelt ung contains some information which is ' calculated . to excite the surprise of those persons who have been accustomed to believe that money matters are very well managed in

    St . Petersburg . The floating debt ( ' ^ uncovered no tes ) of Russia is almost as large as that of all the other European States taken together , and the natural consequence of the superabundance of paper money is that the prices of all the necessaries of life are exorbitantly high . Russia is now about to make a loan , in order , as she says , that she may be able to withdraw a part of the notes , for the convertibility of which their is no security , from circulation . A few years ago people used to talk much of the immense quantity of gdld and silver which the Russian Government had locked up in some almost inaccessible vault , but , as nothing is now said on the subject , it must be concluded that the Russian treasure was a myth . At the present moment eppper money is at a premium in Russia .

    Cheques on Country Bankers . —The arrangements for the " clearing" in London of cheques on country bankers are found to work very smoothly and satisfactorily . Only two or three of the country banks now stand in the position of opponents of the new system , and little doubt is entertained that they will ere long recognise its value as tending to economise labour . A few of the country bankers have refrained from actuully taking part in the new arrangements : but their case also may bo left to the operation of time . Useful innovations are occasionally discountenanced merely because they arc innovations , involving an infraction of ancient routine . In a few instances , country bankers have levied a commission upon the collection of cheques , but so illiberal a practice is not likely to be persevered in . — Daily News . Tithe Commutation . —Wo learn from Mr . WUlich ' s

    usual annual return , that according to the corn averagoa for the seven years to Christmas , 1858 , published by authority in the London Gazette of this evening , viz .: — - wheat , 7 s . 4 d . per imperial bushel ; barley , * la . 5 £ < I . ditto ; oats , 8 s . Old . ditto . Each 100 / . of titho rontchargo will , for the year 1850 , amount to 108 / . IDs . ( ijd ., which is a little more than 8 por cent , above the last year ' s value . It appears by the A nnual Tltho Commutation 7 \ iblea } that since the passing of the Titho Commutation Act , the lowest value of the titho rent-charge was in 1854 , 90 / . 10 s . 5 d ., and the highest that now declnrod . Phqjjictkd Ship Canal * in France . — A doputntiou from Bordeaux has boon permitted to address tho

    EmTjhjhi Credit Svstrm in Tradk . —At a meeting of the Glasgow Chamber of Commerce on Tuesday tho committee on banking laws submitted a report , which was laid , on tho table . It said : — " Your . oommitteo is of opinion that the great cause of the periodical derangements of our commercial system is the sudden collapse of previously inflated credit . But tho system of credit is only prudent , or oven honest , in so far as each individual trader has a reasonable certainty of meeting his engagements ; otherwise , tho whole credit system is a vicious circle ; and insolvency is propagated from one trader to another to an indefinite extent throughout tho whole commercial system . To stretch credit without making such provision for contingent calamity , la simply to gamble at the expense of tho " community . The trader ' s reserve should bo proportioned to his risk . Tho long credits granted in our foreign trade are a fruitful source of danger- —directly to those engaged in it , and indirectly to the whole mercantile community . The boot soourlty against commercial convulsion is to limit credit . The nearer wo come to a onsh business the

    peror , proposing the formation of a canal from tho Atlantic to the Mediterranean , through which Fronch ships may go from the western to the southern const of Franco without passing through tho Straits of Gibraltar . Port ov Hum , ..- —The duty paid on grain and Hour imported into Hull during tho past week was an follows : —> Wheat . 785 qra ., 80 / . 16 s . ; barley , 8420 qrs ., 42 XI . ; beans , 203 qro ., 1 , 8 / . 5 s . ; peas , 87 qrs ., 1 / . 17 « . ; wheat flour , 004 cwt ., 18 / . U . 0 < l . j potato flour , 7 Q 0 owt ., 18 / . 2 s . Qd . Tho imports of cattle during tho same period wore as fpllows : —Por Seahorse , from Rotterdam , 0 calves ; Helen Maogregor , from Hamburg . 11 horses f Graaf van Roohtoron , from Kampon , 2 U 0 pigs ; Norfolk , from Rotterdam , 01 cows , 11 calves , 0 shoop . Total , 01 cows , 17 calves , 200 liige , 0 sheep , 11 homon .

• Citation
  • Leader (1850-1860), Jan. 15, 1859, page 28, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_15011859/page/28/