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Leader (1850-1860), 21st August 1858, Edition 2 of 2, Page 27

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      General Trade Report. London, Friday Eve...

      " rice "being secured . In wools scarcely anything has L en done in the markets , business having been parrally suspended by the local saturnalia known as rashbearing , ¦ which involves the stoppage of machinery Coring the first half of the week . Fresh supplies of the aew clip are regularly arriving , and sell without difficulty at slig htly advanced rates . The recent weekly addition to prices , indeed , though slight , taken separately , form Aggregate -which induces in the minds of some a fear of a reaction . On Monday the stock ( 100 sheets ) of a deceased broker sold by auction at full rates .

      The lace trade of Nottingham is becoming more animated , though manufacturers are keeping down stocks ; and althoug h the period has not yet arrived when th e tome demand ia brisk , there is certainly a good deal making for home use in the execution of legitimate orders . Shipping orders for hosiery are in hand , and causing considerable activity ; but the wholesale houses in the home trade are not yet contracting for their winter stocks , consequently not much is doing in that lespect . Employment is extending in the glove trade . The Leicester hosiery manufacture is decidedly improving . Stocks are very light . la the districts of Hinckley , Loughborough , and other framework-knitting places , there is more employment for the people . the of silk has not checked the

      The advance in price demand for Macclesfield , Coventry , or Spitalfields goods , though the improvement in these branches of trade has not quite kept pace with that in cottons arid woollens . It is , however , a safe and legitimate improvement . Though the late long-continued depression has left behind it serious traces of its effects , it is satisfactory to perceive that they are gradually disappearing ; and that with the increasing prosperity of the country and the improved means of the people , the demand for all descriptions of silk manufactures is sure to grow in proportion . The general trade of XorM'ich in . stufls , bombazines , & c ., is described as satisfactory , there being few unemployed persons in it ; while the shoe trade is unquestionably active , the demand being principally for home consumption . "

      The reports of the iron and hardware trades are better . From Birmingham the indications of improvement that appeared last week have been confirmed in the present . This is attributed in a great degree to the late reduction in prices ; but this fact is only one incident in the case . Stocks of goods are everywhere so low that country buyers have been compelled to order ; and another satisfactory feature of the home trade is the punctuality with which accounts are being liquidated . For many months of this year the factors experienced the utmost difficulty in getting in accounts ; and the . travellers left large amounts on their journeys-which it was impossible to get in . So . long as this scarcity of money continued , the shopkeepers would not increase their liabilities by further orders . The same disposition to contract fresh

      engagements appears to have been general , hence the stagnation which has so long prevailed . The orders given out in the course of the week have been sufficient to impart increased activity to some of those branches in which the languor has been most felt ; and although there are still instances in which the depression continues , the opinion appears to bo general that a reaction has taken place . The workpeople in the principal manufactories liave been making more time this week , and there is reason to believe that the outworkers are more fully employed than they "were two or three weeks ago . In Wolverhampton the general testimony confirms the fact of there being more orders in hand . More is doing for the United States , and the iron masters throughout North Staffordshire are better employed . The demand for goods from the agricultural districts is

      increasing . The strike of the colliers in the districts round about is becoming less formidable from the number of men daily returning to their work at masters' prices ; and there is little doubt that this difficulty will soon bo at an end . Sheffield letters also speak more hopefully of tlic prospects there , though most branches of trade remain very dull . After harvest there is every reasou to expect that the country ironmongers will replenish their stocks , all of which are as low as they were ever known to be . Orders from the United States are slow ns yet ; but for such as have been sent , the remittances have been perfectly satisfactory . Under these circumstances it is believed that things are about to take a turn for the Letter ; at least there ia a much moro confident expectation of that result shortly .

      The Irish linen trade- continues to show Higns of progressive improvement . In Armagh , Lurgan , and liallyjnena , at last -week ' s markets tho supplies of brown linens were but moderate , and there being a brink dejnand , they wero all sold off at the advance mentioned "j our last . Stocks therefore are not increasing , "lapers and damasks wero in chief demand . Lawns rather dull . In handloom-mado drills and diupora there "no change ; but stock * aro very mode rate , and prices we manifesting an improved tendency . Handkerchiefs w pretty good domnnd ; but there aro complaints of pneos . Light linens for bleaching have boon grontly reduced in atock ; tho Into ndvnnco , therefore , ia more w « ay given . Goods for tlyoing , and hollunds in brisk

      demand , and higher prices are being obtained . Heavy linens also in demand . Power-loom linens , such as drills and heavy and light cloths for bleaching , very quiet ; but prices firm . Roughs continue ia active request at advancing rates . In union cloths little done . There is a good export demand for -white linens , at better prices ; and favourable advices have been received from New York , Havannah , and Mexico . The stock of yarns in the hands of the Belfast spinners is described as moderate in all numbers , notwithstanding that the production in the mills is at its full extent . The quantity of linen yarns soldjthis week has again been under an average , owing to the enhanced prices asked by spinners , which manufacturers are reluctant to give . Tow yarns continue in active request , chiefly for export , and are wanted , stocks having been cleared off . In these

      yarns spinners are in most cases working to order , and the late advance is well maintained . The linen trade of Dundee is characterised by a good demand for yarns at full prices ; while a fair sound business is being done in clothes of all descriptions . Flax has been very firm throughout tlie week , and the better descriptions have found ready buyers at improving prices . Medium and lower qualities have also been inquired for . The arrivals from the Baltic ports have been considerable ; but they have not depressed the price of the raw material , but rather the reverse , owing to the extent of the demand and the firmness of holders .

      From Paisley , Glasgow , and the -whole of lacarksliire , the accounts are good ; the iron , trades however are not active . __ _^ - <^ x The South Wales ironmaster _ S-a * emo > re fully employed . Some expensive orders have been leceived for iron rails .

      Fla, 439, August 21, 1858.] The Leader. ...

      fla , 439 , August 21 , 1858 . ] THE LEADER . 85 !

      Railway Intelligence. The Mass Of Railwa...

      RAILWAY INTELLIGENCE . The mass of railway meetings thi 3 week precludes us , through want of space , from doing more than to take a passing glance at results . The Great Western , as previously announced , declared no dividend , although there was a surplus of 37 , 000 ? . The old complaint was put forward , that competition had takentraffic from the company , and also the new complaint , that the general stagnation of trade had injuriously affected receipts . The proprietary , however , seemed generally satisfied that better times ivere in store , and that under existing circurnstances . it was preferable to have a good dividend next half-year than a meagre one the present half-year .

      liiE Easteioi Counties directors , at the meeting , brought forward the now stock complaint of railway companies , of losses of traffic and money from the competition of rival companies , and further ' losses from ¦ imprudent leasing ^ . The Uijdlaxi ) , also , assure their shareholders that the dividend would have been larger had the company not had to sustain competition fro in more than one quarter . The Mid-Kent appears satisfied with the result of the working of the portion of the line opened from Shortlaiids to Southborough , and also with the terms of the alliance which they have entered into with the South-Eastern . .

      Ihe MetroroiJTAs : project is still in abeyance , but Mr . C . Pearson is working at it untiringly . His proposition is to raise -100 , 000 / . by shares , of 101 . each , and with the progress ' , he has already made , and the foundation he has laid for a commencing line from Farringdon-street to Paddington , he believes , with two months in which to mature his plans , ho will bo able to conic to some definitive determination on this important undertaking . A great many minor companies have held their meetings , but nothing particular has to be noted .

      Ihe Great Northern had their meeting yesterday , and the same story was repeated by the chairman , Mr . Denison , of damage and loss from , competition . The hon . cliairmnn was roundly taxed with being the promoter of this competition . From his replies we do not see that a more pacific policy is contemplated . Surely the shareholders know their duty in such a case . If they -want better dividends , they must get a chairman and board of directors who will be open to reason and reasonable propositions . We may here remark that the prominent fenture at tho leading- railway meetings already held has been the disastrous effects of competition . Thero lias also been a pretty

      general disposition evinced on the part of proprietors to urge upon their directors { . he necessity for combined action , in order to effect a change in tho present expensive , tortuous , and contradictory Parliamentary legislation , whether in committees or by tho House of Commons . There has also been displayed a disposition to urge upon tho directors tho expediency of concerting sonic plan by which reckless and ruinous competition may eventually bo put an end to . From what we havo witnessed we augur hopefully for tho future of railways . If shareholders will come forward roeolutcly and regularly , and enforce proper measures on directors , then wo may look forward to good dividends and tou restoration of public coaildcucc in railways as # u investment .

      Colonial And Foreign Produce Markets. Re...

      COLONIAL AND FOREIGN PRODUCE MARKETS . REVIEW OF THE WEEK . Mincing Lane , Friday Evening . Tbade in several departments is divested of that animation and buoyancy that characterised it in the preceding week , but the . tone continues healthy nevertheless . The cessation of activity observable iu some instances is chiefly explained by the influx of rather heavy supplies , which has induced buyers to withhold from the markets in anticipation of some advantage in terms . Where this has not been the case transactions have evidenced a steady continuous demand for immediate requirements , and current values generally have shown undiminished stability .

      Sugar . —The arrivals of West India and Foreign Muscovado sugars have been exceedingly heavy , and have caused the dealers to reserve their orders in anticipation of some concession in price . Holders , on the other hand , have shown considerable firmness , have supplied the markets sparingly , and have generally refused offers that did not come up to late rates . The result has been an extremely limited business , in which prices have shown a partial decline of 6 d . per cwt . The deliveries continue satisfactory , and , although the stock is increased , the excess , as compared with last year , ia still diminishing , and is now only 4600 tons ; the amount in warehouse at the respective periods being Go , 000 tons and 60 , 400 tons . The accounts from producing countries are without exception favourable . There has been some inquiry for floating cargoes , but at terms which holders have in very few instances entertained .

      YVest Lndia . —The sales are restricted to 920 hds ., including the public sales , in which Barbadoes sold 36 s .. 6 d . to 45 s . 6 d . for brown to fine bright grocery . MAUKlTtus . —4163 bgs . in auction , partly sold 33 s . 6 d . to 37 s . 6 d . j for mid . to good brown , and 38 s .. 6 d . to 43 s ., for low to good yellow 5 915 bgs . crystallised , 49 s . to 50 s . per cwt . Bexgax . —The auctions have offered 1968 bgs . which chiefly sold , brown and yellow date , 31 s . 6 d . to 36 s . 6 d . ; fine grocery yellow 48 s . per cwt . Madras- —2500 bgs . chiefly brown descriptions , met a partial demand in public sale at Sis . to 38 s . per cwt . Foreign . —The public sales , although not extensive , have but manifested the determination of buyers to hold off for some advantage in price , and nearly the whole of the goods brought forward have been withdrawn or

      bought in ; 516 hds ., 225 brls ., Porto Rico , at 43 s . to 47 s . Gd ., for middling to very fine bright yellow , and 41 s . Gd . to 42 s . 6 d ., for ordinary to middling , 631 cks . 100 br ] s ., Culm , Muscovadoes brown 35 s . 6 d . to 37 s . 6 d .- *~ - yellow low to fine 38 s . to 46 s . ; 4720 bxs . Havannah ' white , duty 18 s . 4 d . at 54 s . Gd . to 55 s . ; floretts , 16 a . duty , 49 s . 6 d . to 51 s . Gd . ; middling to fine yellow 43 s to 47 s . per cwt . ; 174 bds ., 112 brls . St . Crois , middling to fine yellow , 42 s . to 47 s . per cwt . ..-,. ¦ . Coffee : —The market has been somewhat freely supplied , but the demand sufficient to effect a pretty general clearance . Good and . fine colory coffees have realised fully late rates , but unclean and doubtful

      qualities have sold with considerable irregularity , averaging Is . Gd . to 2 s . Gd . decline . The auctions have comprised 474 cks ., 520 brls . and bgs . Plantation Ceylon , fine fine ordinary to good mid ., G 3 s . to 72 s . Gd . ; fine 81 s . ; 1000 cks . Neilgherry mid . small to good coIotv , 67 s . 6 d . to 7 l ) s . ; Peaberry , 70 s . to 72 s , ; G 27 cks . Tellecherry , 6 < 5 s . to 70 s . ; a parcel of Mysore kind 66 s . to 71 s . 6 d . for mid . to good bold pale ; 5700 bags Costa Rica mid . palish to good colory , 67 s . Gel . to 71 s . ; fine fine ordinary , 64 s , Gd . to 65 s . ; triage and unclean , 55 s . to 60 s . ; 3000 bags Rio , of which only a small part sold , good ordinary to fine ordinary , pale , at 41 s . to 43 s ., the bulk being held at 41 s . to 46 s . per cwt .

      Cocoa .- —The demand for colonial descriptions is rather more active , and several sales bavo been effected at better prices . Trinidad sold at 57 s . to G 2 s ., and Grenada at 4 Gs . Gd . to 59 s . per cwt . ; 100 bags fine Surinam in auction wore taken in at 71 s . per cwt . Tea . —By private contract very little has been done , the trade having been more immediately engaged with the public sales which commenced yesterday and concluded to-day . . They offered 17 , 000 pkgs ., inclusive of 9 U 0 pkgs . Assam . The China teas met only a moderate deniiuul , but were sustained in price . The Assanis sold with spirit at full prices .

      Rice . —The business is still confined chiefly to low and damaged parcels , for which about former prices arc paid . Tho principal transactions reported are , 8000 bags , low : Bussien , at 5 s . 9 d .: and 900 O bags Rangoon , a 1 6 s . J ) d . to 7 s . Cd . per cwt . ; 5000 bags mid . white Bengal , at 10 s , Tho clearances have fallen off , but aro in excess of tho arrivals , and tho stock is therefore slightlj diminished . Spices . —Cassia lignia has declined 4 s . to Cs . poi cwt ., middling third to fir * t pile having sold at Ms . t ( Ills , per cwt . in a public sale of lf > 7 boxes . An arrival of 800 boxes has recently taken place . Oingci brings late rates ; ' 120 bags Call * -ut in mietion won mostly sold : good middling niul good , 70 s . to 85 s . U 0 bagH middling quality'sold at GJJ . s . to 67 s . ; 8 G ! uockcta Bengal were held at ltis . 0 d ., but 804 barrel

  • Citation
    • Leader (1850-1860), Aug. 21, 1858, page 27, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_21081858/page/27/