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Leader (1850-1860), 26th March 1859, Edition 2 of 2, Page 27, HOME, COLONIAL AND FOREIGN PRODUCE MARKE...

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      Friday Evening. Tue Great Feature Of The...

      other things . The disciples of -M . Clievnlk-r will find ' ia this ~ fnct an argument for the doprcc : iaUo : i of gold , but it is entirely the consequence of the act ot the Government . ¦ ' . . A fortnight a ^ o we direqtecl attention to the . attempt now ' mMking by the Great : Western . KaU ; yay Company to raise their fares . Yesterday the 1 unes referred to the subject and gave this additional ex-P ^" riie bill is entitled 'A bill for authorising the construction of a railway for carrying the West London Railway over the Great Western Railway , by means of a bridge , in substitution for the present level crossing ; for revising the tolls of the Great Western Railway Company , and for other

      purposes ; ' and it was in this manner , by putting forth the change of a crossing into a bridge as the prominent object , that it was hoped to gain the means to tax to an almost indefinite degree the entire traffic of the west of England . A more unworthy contrivance has perhaps hardly been recorded in the annals of a respectable English company , and it has awakened , as it deserves , active hostility and reprobation . At a meeting of the wholesale houses of X . ondon ,. on the 18 th inst ., a series of resolutions were passed for a strenuous opposition , and a committee ) was appointed to take the necessary steps . In a statement of the case sub-Morrison

      mitted by Mr . Robert Slater , of the firm of , Dillon , and Co ., it is pointed out that the existing tolls of the Company were actually proposed by themselves , in order to obtain from Parliament the power of trenching upon ground already occupied by ' the London and North Western line ; and , this power having been secured , the aim now is , not only to repeal the conditions , but to make the public pay —as was always predicted -would , be the case—for tlie ruin the Company have brought upon their own heads by misapplications of capital for reckless extensions , unjustifiable competition , and extravagant expenditure . ' ¦ . • ' . ¦ ¦ ¦ ' - . ., ; .

      The debate in the House of Lords yesterday , on limited liability , illustrates the erroneous conduct of the Legislature in dealing-with this question , rather than the incorrectness of the principle ; There cannot be a doubt about the propriety of leaving every man at liberty to decide for himself the extent of the obligations he will enter into , or limit his liability as a member of a company , as well as in other capacities . That the Legislature , in deciding how a man shall lict in contracting this

      liability , settling all the . conditions of such contracts before they can possibly be known , has done extremely wrong , we can readily admit ; and while Lord Overstone may be right in opposing our legislation on the subject , he is hopelessly , wrong in condemning the great principle of limited liability . His lordship fails in this instance , as in others , to distinguish the errors of the august assembly of which he is now . 1 member , and the principles of trade with which he was formerly more familiar than with legislation .

      N- O. 470, March 26, 1859 : ] .___.„;_ T...

      N- o . 470 , March 26 , 1859 ] . ___ . „;_ TH E ___ j ^ j ^ JES ^^^ - ,- — . ^^^^^ . ^^ . ^^ ^^ . ^ JIL ^ '

      General Tbajde Repoet. London, Friday Ev...

      GENERAL TBAJDE REPOET . London , Friday Evening . The extraordinary feature in our trade transactions this week is the exportation of wheat from Liverpool , and we believe from some ports of France , to the United States and Canada . Trade has taken such a course before . The Americans sold more than they could > vell sparo , and wore obliged to buy some back . By the last American papers arrived , we learn that in some parts of Western Cimiula tliero was much distress for want of food , and in parts of the United States food is much -wanted . A hope is expressed that the American Government -will allow the re-importation of whoat and flour without the

      the prospect of the Congress of the Great i ^ owcrs of Europe has . given . confidenceto exporting merchants , the result of ' which . is shown , in a considerable issue of orders for the Continental markets . ¦ LrvJCRPOOi .. —Tiic last advices from Now York report a falliii" -oii-iii the catton . recui ;> ts , and as this is uiti ; rpivted 1 o mean a short supply of thii raw material , the holders in Liverpool have taken the hint , nn / . l have <^ tablished . an advance of about & . l . per 1 !> . This lias tended to repress sales ; but latterly , manufacturors and speculators have bought freely . Manchestjsr . — Last weok tin ; Continental orders were very limited . But this week , the merchants appear to be in better heartand tJie result is , that German and

      , Italian customers have made their appearance , and have " iven out orders * pretty freely . From this circumstance , spinners have regained that firmness which they partially lost last week , and have refused to submit to lower prices . Tlie last telegram from Bombay shows that the markets are overstocked , or , if not overstocked , that the late financial operations in India have so alarmed capitalists that they have reduced their business in every direction . This determination has checked that buoyancy in the Indian markets , which has proved such a boan to our manufacturers . For yarns , for the German markets , there lins been a good demand . The home trade has also been active . Altogether , n disposition to do business for the Continental " markets more freely has been

      evinced . Leeds . —The attendance in hall has been generally good . The improvement in business appeared to be general . Prices , howevei-, exhibited no material variation . The warehouse trade is not very good , and buyers have only made limited purchases . We believe the clothiers are ' busily occupied at this time ; so much so , that in some districts there is a positive scarcity ot hands . Lbioester . —The demand for worsted goods , as might he expected , is pretty near a close , but-still makers are well employed in preparing cotton goods for the season . The operatives have been fully employed , and m some instances at advanced wage 3 .

      Nottingham . —The lace trade , hitherto so slack , lias been brisker , particularly in plain goods . We are sorry to have to notice several failures ^ which have tended to shake confidence . The general feeling in the trade 13 , that trade is improving . Operatives appear to be fully employed ; ¦ . ¦ . . HtrpDEKSFiTSi . D . —A fair attendance of buyers from Glasgow and London houses took place this week . Li / rht goods , mixtures , . and other goods for the summer trade found a full demand . Bradford . —The wool trade is quiet . For brig-Jitliaireil sorts thero is a demand at easier prices . The Continental buyers do not make their appearance in our markets . The * advices from Halifax ; , lloclidale , and other districts ^ arc similar in character .

      The Inox Trade . —There is . a fair trade doing in hardware goods . The iron districts in Staffordshire and Wales are well employed on railway orders . We regret to have to notice the increase of strikes . The cotton districts are threatened with this piece of tolly , but we hope the operatives . will have good sense enough and feeling enough for their families to resist the suggestions of the designing . We hope the operatives of Padiham will not listen to tlie foolish representations of the clique calling itself "The East Lancashire Amalgamated Association . "

      payment of duty , but that Government is so much in . want of money , that wo are afraid this hopo will bo disappointed . We see , however , that its customs rovenuo is rapidly increasing . Till , next harvest it is probable that the flow of grain will bo not from , but to , tho American continent . The coffeo market lifts assumed a vcrj r firm chnrnctcl *; for good sorts of coffee tho demand is great , and it is oxpocted that the pi'lco of cofl ' ee at , the approaching salos in I Jo Hand will be high , The tea market , too , is very firm . A much greater quantity lias boon sold lately than has arrived , which is tantamount to an innmd on our stock , and shows a demand superior to tlio supply . 1 ho

      corn marlcot ir also firm , and tilings look genorully moro ehporful than for some tiiuo pnst , As tho improvement accompanios tho report of a Congress to assemble , ifc will , by somqporsons , beattrihutbel to this circminstanoo , but it ig rather tho cansocjuencc of consumption having ovortalcon tho supply , than of any political action . At tlio sama timg tho political disputes havo intorferrcid wltli tratio , and prevented tho Improvement from maujfo ^ ting its . clf at 0 . 11 earlier period , Tho details of tho several markets follow . riia general trade of tho manufacturing , districts has shown ah improvomont this week . Tho war manifestations havo not boon quite so alarming , and

      Home, Colonial And Foreign Produce Marke...

      HOME , COLONIAL AND FOREIGN PRODUCE MARKETS .

      Tjie Sugar Markets Have Shown Nn Upward ...

      Tjie Sugar Markets have shown nn upward tendency , but the advance has not been so well maintained as at the beginning of the week . Coffee . — 'The inquiry is-steady . Holders , however , insist on their prices , and this restricts business . Some sales of Coylon and Plantation hnve been effected at the prices of lost week . . Cocoa .. —A small business" only was done in this article . Tea . —The public sales finished pn Wednesday ; prices were with difficulty supported . Common C 011-ltoh , in tlie privnto contract market , sold at J 3 Jd . cj ) sh , The exports from London for th « week ending tlio 17 th ltT * riM /« l » «¦¦»/* . * .. iii < i « i # - £ k # l * # x l » n * X (\ nr / A Ilia Iill | UU KUUVl IUU VUj ( ( fWfli

      ATA ^^ VU MV W Bum .-7-A fair business wns tloho at old pricos , Xeownr ' d Isinntl , common , Is . 7 d . ; fair , Domurara , 2 s . Id ., 3 s , 2 d ., 2 s . 8 d . proof . Rick . —Thoro hns been no transaction of importance to report . Pupr-Jin . —At tho . public salus , Ponaug went oft'stoadily at 3 J | 1 . 5 fcJingaporo , ' 4 , \ d . 5 ni'At-cluss , damaged , 4 il . White Pc'ppoi .- —Poilung , 7 ( 1 < I . to 8 d , j Singapore , 75 ( 1 . InOirunsn , Mack , Ci / ovks , 'Cinnamon , thoru Ih no variation , ^' utmkos are about Id . lowur . MAi / rpiSTKis . —Tho business done was ljmltoil . Fine Crystal , M per . cont ., roaHaoil 41 s .

      THE SCOTTISH PROVIDENT INSTITUTION . Tit ; -: twenty-first annual meeting of ths contributors to this Society was held on the lGth of February . John Hunter , Esq ., Auditor of the Court of Sessions , in'the chair . The Chairman * after adverting-to the details ' of the the year ' s business , said— " It was stated to you at last annual meeting that-a . careful and minute investigation had been made into the whole of the securities on which the funds of the institution have been from . time to time invested , and that the result had been in the highest degree satisfactory . There is no department of the administration of the

      society ' s . affairs that is more important than this ; and , without recurring to the details given by Mr . Binny last year , I shall merely , as liavivig had tlie honour to act as chairman of the Loan Committee during the past year , add my assurances to his , that all your funds are safely and surely invested , that no greater care or caution could have been exercised than has hitherto been shown in the selection and examination of the investments , and that we are all of us fully and continually alive to the importance , or rather absolute necessity , of avoiding the slightest relaxation of diligence in this fundamental department of our , duties . "

      The Directors' Report stated that" 562 new policies had been opened in tlie year , assuring 269 , 610 / . The claims by death— . 63 in number—amounted to 39 , 9 io ; . 13 s . The gross amount of premiums received in 1858 was 94 , 139 / . The income of the Society at 31 st of Deceriiber last was 112 , 990 * . The realised fund arising from accumulated premiums was 562 , 559 / . Mr . Edmund Baxter , W . S ., in submitting the Report , referred to the position of the Society on the completion of its 21 st 3-ear . Comparing this with the two leading institutions—the . London Equitable and the Scottish Widow ' s 1 ' und—he Showed that , at the corresponding period of their attaining their majority ; these great offices had—the former only 720 , 000 / ., and the latter " upwards of two millions " Of assurances ; while the subsisting assurances in the Scottish Provident exceeded three millions and

      a quarter . Mr . Baxter then addressed the meeting on the distinctive principles of the Institution—as , premiums on the lowest scale consistent with perfect safety to insurers ^ and . reservation of surplus for those by whose continued contributions it has been created > members being at once secured in tlie full sum to which their -jJremiunis are coniniensurategenerally from a nftli / fco a fourth more than in other participating offices—while their interest in the profits is preserved . These , however , are not given to the contributor who dies eai-ly , to the loss of the society , but become available to a member whenever surplus arises on Ins individual assurance . The report was , on the motion of Thomas Stevenson , Esq ., civil engineer , unanimously approved of : and the management was constituted for tho ensuing

      year . l ? ull reports of the meeting , containing statement of the principles of the society " , forms of proposal , and every information , may be had at tho Head Office , or at the London Branch , C 6 , Graeechurchstreet . Jamjss Watson , Manager ; j . Muir Leitch , London Agent and Secretary ,

      J VTU .- ' -A . reduction of about 20 s . to 00 . $ . per ton ia roportud In some inntancos . Hhmi ' . —lino Manilla with difficulty fotohod 07 / . fis . per ton . OiT . s . —Hupp , without activity . In Olivo , a Inr / ffo business was uono at rathor lower pi'leea . Pjilin , Btuady nt 4 . ^/ , Cocoa JN ' ut lms uxporionend a hcittoi iloinand ; Coylon , ill . ; Cochin , & QL j LIubcou , marlcot fiat and tondoncy towards lower prices . Conrf . —Tho supply of both Knu-llsli and Foi'oign wliont was limited ; no variation occurred in prices worth noticing . Flour stoutly 5 Oats (]» ilot ; Malting Uavley , firm . 11114 . 1 Peas and Buaus dull nt Inst wt- ' ok ' s rntoj ,

      The Livi,Sri»Ool Bonouou ,Banjc.— A Priv...

      The Livi , sri » ool Bonouou , Banjc . — A private meeting of the shareholders was held at the offices of ; tho Bank , in Water-street , on Monday , to receive a report from some of the shareholders who had succeeded in obtaining an order from the Master of the Rolls for an inspection of the books and , accounts of thotmnk by a professional accountant . It was also resolved that Mr . Diclcson , of Edinburgh , who has been engaged in winding up tlio affairs of tho Western Bank of Scotland , should bo appointed accountant , and that another meeting of tho ' shareholders should be called to rgcoive his report , and then to decide upon taking any further stops which may bo doomed necessary . ManujiWctuuks im tjik lIninui > Rfl , ;—Sir Jamc 3 Mutheaon is about to oroct extensive chemical worksfor tlie manufacture ofparatfino , & o ., fVom poat moss , at Garrabost , near tho town of Stornoway . ^ Experiments have been already in ado witli a satisfactory result . Tho Now York Times speaks of nn Hum of secret history never before ilivulgod . " President Joilbrson ' s gunboat navy , which was tho subject of much ridicule , was ostensibly built for tho protection of our sea-coast ; 180 of these boats wore sent southward , Theso' boats woro built for tho special purpose of taking possession of Cuba , but boforo the plans oC Mr . Joflerson wuro porfoctod rolations with England booamo throatoning , and tlio project was postponed and never afterwards revived . " Tine TnwATY qv Tii'W-SiKa . > -It is stated that tho French Government havo received intimation from China that tho Hniporor rofti « os to ratify that clause of the Treaty of Tion-Stnjj which refers to facilities for the extension of tho opium trado .

  • Citation
    • Leader (1850-1860), March 26, 1859, page 27, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_26031859/page/27/