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Leader (1850-1860), 27th August 1859, Edition 2 of 2, Page 22

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      Friday Evening. Tins Money Market Is Vor...

      banks even feel the want of a demand for money and are rather offerers than receivers . Bills are discounted at 2 £ per cent . Something is due to the reports from Central Italy , -where there is a probability of a further disturbance . It cannot either be concealed that the conduct of the Emperor , so different from all general rules , though in itself now ¦ what we desire , destroys confidence . People cannot reckon on stability , and so they prefer employing their money in loans on good security to engaging in new enterprises . Indeed , the dearth of new undertakings is remarkable . Then , no doubt , the continuance of the strike is not favourable to commercial activity , and altogether there is in consequence unexpected ease in the money market . In the Stock Exchange , from the tvro new loans , there has been activity in the week , and a good deal of business has been done , with a generally improving market . To-day things were flat . From Pans Game a further slight decline in the funds there , and our funds declined . Consols , which opened at 95 & , were afterwards done at 9 ^ , and at that price the market closed very dull . The Indian loan , with the privilege of having the dividends paid at the Bank of England , is regarded by many persons to be as good a security as Consols , and as they can get nearly 2 per cent , more for their money in the loan than in Consols , they have been selling Consols to buy into the loan . It is at a ' premium of 1 to 1 % . For the public , then , it is an English security , for the Government an Indian one , and the Government gives accordingly nearly 2 per cent , more for the money than would be requisite , did it negotiate the loan with the nominal , as it has the real guarantee of Parliament . The Russian loan is about par , Or at a slight discount . What quantity has been taken is not yet known , but we are assured that what remains , if any , will not be thrown on the market . Banking shares , like the funds , are rather flat , but there is no change of importance in the market . We subjoin the bank returns : — BANK OF ENGLAND . An Account , pursuant to the Act 7 th : and 8 th Victoria cap . 32 , for the week ending- on Wednesday , the 24 th day of August , 1859 : — ISSUE DEPAftTaiEJIT . Notes issued ...... . £ 30 , 089 , 800 Government Debt .- £ 11 , 015 , 100 Other Securities . ' . 3 , 459 , 900 Gold Coin & Bullion 10 , 214 , 800 . Silver Bullion .... .-630 , 080 , 800 ¦ £ 30 , 089 , 800 BANKING DEPARTMENT . Proprietors' Capi- Government Seoutal .., £ 14 , 553 , 000 rities ( including Best .............. 3 , 443 , 792 Dead Weight Public Deposits ( in- Annuity ) ......... - £ 11 , 214 , 0 ( 58 eluding- JSxche- Other Securities .. 18 , 304 , 418 ouer . Savings' Notes 9 , 015 , 805 Banks , Commis- Gold and Silver taioners of Na- Coin .... . 002 , 405 tlonal Debt , and Dividend Ac- , counts ) 0 , 152 , 539 Other Deposits .... 14 , 183 , 853 Seven Day and Other Bills , 804 , 222 £ 30 , 197 , 400 £ 30 , 107 , 400 M . MAKSHALL , Chief Cashier . Dated August 25 , 1859 .

      994 The Leader. |Lsfo. 492. Aug. 27, 185...

      994 THE LEADER . | lSfo . 492 . Aug . 27 , 1859 .

      General Trade Report-

      GENERAL TRADE REPORT-

      Friday Evening. All Tho Produce Markets—...

      Friday Evening . All tho produce markets—Mark-lane and Mincing-lane—are in a very quiet condition . Wheat sold very slowly at Monday ' s rates . For barley there is a slight demand . The prices of sugar are steady ; so are those of coffee , rice , tea , & c . There is generally a season of dulness before it is quite ascertained in what condition the harvest will be got' in , and this season is now begun . Worl ? goes steadily on iu the manufacturing districts , but there is nothing liko extra business from either home op foreign demands . When the farmers have gathered in all tho produce of their fields they will come to town for their supplies , and impart a now life to the markets . Prom India and the United States the demands are rather slack , so tho characteristic of tho week is dulness .

      Indian Railways.—The Grand Total Amount ...

      Indian Railways . —The grand total amount of capital raised by the various Indian railway companies , and paid by thorn into the homo and Indian treasuries In the years from 1848-49 to 1858-G 9 is eet down at 23 , 250 , 480 / . The total amount of interest on capital received by all the companies from 1840-50 to 1858-59 was 2 , 7 a » , 453 Z . T " amount of disbursements on account of all tho companies in England and India during tho same period was 19 , 061 , 097 !! . The balance of principal duo to all tho companies from tho Government of India at the end of April lust was 4 . 189 , 3821 .

      Prices Of The Principal Stocks And Share...

      PRICES OF THE PRINCIPAL STOCKS AND SHARES AT THE CLOSE OF THE MARKET .

      Last This Week Week Stocks. 3 Per Cent. ...

      Last This Week Week STOCKS . 3 per cent . Consols—Money 95 £ 95 g Ditto Reduced 95 J 96 £ Ditto New 96 9 G £ BankStock 223 223 India .. 221 £ 219 Exchequer Bills 20 * 20 Canada Government 6 per cent U * i 113 New Brunswick Government 6 per cent New South Wales Government 5 per cent . 99 $ 9 JWSouth Australia Government Gper cent .. 110 lOftjr Victoria Government 6 per cent ........... Ill 110 * Austrian Bonds , 5 per cent 77 7 ? £ Brazilian Bonds , 5 per cent . .- - 104 French Rentes , 3 per cent 68 . 90 69 . 70 Mexican Bonds , 3 per cent .. 185 Peruvian Bonds , 4 J per cent 93 * Sl £ Spanish Bonds , 3 per cent . 32 $ Turkish Scrip , 0 per cent .... 83 S 3 | RAILWAYS . Bristol and Exeter ... , 99 99 i Caledonian • S 3 Si > i Eastern Counties .... 58 57 f East Lancashire -. Great Northern 10 H 1 O 3 J „ Western 5 « f * GOi Lancashire and Yorkshire 95 96 * London and Black wall • 65 f & 5 * London , Brighton , and South Coast 109 109 * London and North-Western 944 964 London and South-Western 91 i 91 £ Midland •• 105 £ 106 NorthBritish .. 58 60 | North Staffordshire ....... .. ; 13 18 £ Oxford , Worcester , and Wolverhampton ; . 32 3 a South-Eastern . 75 76 £ South Wales 63 03 Bombay , Baroda and Central India ....... 17 17 Calcutta and South Eastern £ p £ p Eastern BengaL ..- ga 4 J East Indian 100 101 Great Indian Peninsula 98 9 S £ Madras 90 90 Scinde ...... 19 | 19 | . Buffalo and Lake Huron 5 5 £ Grand Trunk of Canada . 364 36 Great Western of Canada 14 f 15 & Antwerp and Rotterdam 44 4 f Dutch Ehenish 5 £ d 5 Jd Eastern of France 26 .. 20 Great Luxemburg ° i ° $ Lonibardo-Venetian 1 O | 10 * Northern of France .... 37 37 & Paris , Lyons , and Mediterranean 36 35 Paris and Orleans 6 f > 55 ¦ Southern of France . 20 £ - 2 OJ Western and North-Western of France 22 23

      Railway Intelligence.

      RAILWAY INTELLIGENCE .

      At The Half-Yearly Meeting Of The Shareh...

      At the half-yearly meeting of the shareholders of the Gkeat ^ Northern Railway CoaxPANY , on Saturday , a dividend was declared at the rate of 3 Z . 7 s 6 d . per annum on the original stock , yielding 3 l . per cent , for the half year to the " B , " and 7 s . 6 d . per cent , to the " A " shareholders . The meeting went off more quietly than has lately been the case with the meetings of this company . It was announced some short time back that the Eastern Bengal and Calcutta South Eastern Railways had been transferred by the Government of India to the direct control of the Lieutenant-Governor of Bengal , The E . I . Railway has also , we learn , been placed , from the 1 st July , under the local government .

      At the meeting of the London , Tilbury and Southend Railway Company the statement of the revenue account showed that the receipts amounted to 21 , 576 Z . 14 s . Cd . and the expenditure to 14 , 630 * . 15 s .. 5 d ., leaving a balance of 6 , 945 * . 19 s . Id ., which is 656 ; . 15 s . Id , more than in 1858 . The contractors pay a , fixe , d dividend qf 6 per cent , per annum to the proprietors . The meeting of the Amreugatb , Nottingham , & c , Railway Company took place this weak . Theife was a favourable report , and the accounts showed a considerable increase in tho canal revenue , A

      dividend of 3 s . per share for tho last six months was declared , and the report was adopted . The report of the directors of tho Eastern Counties Railway Company adopted at tho meeting on Thursday recommended ( as noticed previously ) a dividend in the ordinary shares of II . Is 3 d . per cent , for tho half year , The falling off in the goods traffic was accounted for by the chairman , who stated that the flsh supply to tho ports of Yarmouth and Lowestoft had boon less than at any period for the last twonty-flvo years , reducing that fcrafl & o to a third of tho amount .

      And Ireland ; The Proportion Of This Cap...

      and Ireland ; the proportion of this capital actually raised , and the total capital actually raised by each company , the total for-each division of the kingdom and the aggregate for . the entire kingdom . II . The annual preferential charges on each line for interest on preferential and guaranteed shares ' and loans , and the totals of the whole . III . The gross traffic receipts ; the working expenses ; the total of working expenses and preference charges , and the net income available for dividend . The total capital authorised for railway purposes amounted at the end of last year to The

      346 , 408 , 287 ? . for lines Open . amount actually raised for open lines was 308 , 824 , 851 Z ., of which 33 £ per cent , was in ordinary shares , 21 £ per cent , in preference and guaranteed shares , and 25 £ per cent . in loans . The total sum of money authorised to be raised for the construction of railways , open and remaining to be opened , on the 31 st of December last , was 392 , 6 S 2 , 755 l . of which 325 , 375 , 507 ; . had been raised—viz ., 181 , 837 , 7812 . by ordinary share capital , 61 , 854 , 547 / . by preference shares , mid the remainder , 81 , 683 , 179 ? ., by loans , leaving 67 , 3 O 7 , 248 Z . to be raised .

      Indian Railway Prospects . —We are given to understand there is every likelihood that by the end of the year our local railway will be opened southward to the town of Sholapore , a length of about one hundred miles ; and simultaneously there will be an opening northward to Nassick of nearly another one hundred miles , making the total length of line , which will be at work in 1860 , amount to something like four , hundred miles . Pleasing as these figures are , we feel assured that every extension which is opened will not only increase the passenger traffic with- the rents offered for amusement seekers , but the denizens of this tight little island may look forward to a prospect of obtaining grain and gram for something like one-third the prices now paid . And then who shall calculate at this moment the thousands of devotees prevailed upon to attempt

      a pilgrimage by rail (!) to the Hindoo shinies at Kassick I How the myriads of Banians , who now revel in filth , will then be seen in all the beauty and pride of cleanliness , with limbs laved in the purity of these sacred waters ? What an exquisite annual report might now be fairly expected of the directorgeneral of prisons , as with the philanthropy of John Howard he reduces the number of passengers in a third-class carriage from 200 to twenty ! What blessings he will earn from the Bhuddists for his tenderness to animal life ; how likely to induce said Bhuddists to transport the Pinjrapole from Bombay to Nassick by the railway ; and how , finally , we shall find a monument erected at the conjoint expense of the railway companies and of Pinjrapole societies of that directorrgencral who promoted their mutual interests ! Our feelings will not permit us to say much xaoYe . - ~ -Bomhay Gcizetle .

      The elaborate annual report on tho railways o tliq United Kingdom , prcsonted by Captain Douglas Galton to tho Board of Trade , furnishes all the loading financial and working details of eaoh company , together with tho aggregate totals of tho complete systom . Thcso statistics comprise- —I . The total capital authorised to bo raised by each company respectively in England and Wales , Scotland

      Portuguese Railways . —The Spanish financier , Salamanca , has made the deposit of £ 40 , 000 required by the provisional contract entered into between him and the Portuguese Government . Tho concession is still open to competition for the space of forty days , but unless Sir Samuel Peto enters again , and revises his proposals , which is very Tinlikely , the contracts of Salamanca will be definitively adopted . Whether this gentleman will be able to execute the extensive works contracted tor at so low a figure is matter for grave doubt ; the terms arc far moro advantageous for the Portuguese Government than those of Peto ' s contract , and the work draughted out is more costly and difficult .

      Joint Stock Companies.

      JOINT STOCK COMPANIES .

      At The First Meeting Of Tho London Distr...

      At the first meeting of tho London District Telegraph Company the report was adopted . It was stated that the paid-up capital of 10 , 740 / . ia more than sufficient to meet , all tho liabilities for contracts , & c , and that no call will bo made until required by the progress of tho works . An agivoiiionfi for interchange of traffic has boon concluded mtn the British and Irish Magnetic Company / , m whose now establishment , in Thrcadnccdlo-strcot , will bo the chief station of the London District Company . Eligible sites have also boon secured for three other principal stations . The eighty-nine sub-district stations will be taken as the wprks progress , and it is expected that tho whole will ue ready for opening by tho commonccntont ol homyear . At tho annual meeting of tho Eaolk Imsuhaxcb Comi-any a most satisfactory report was proseiuou and adopted ;¦ which gave a highly fuvourablo account of tho prospects and presont condition 01 i « society , and of tho ability which has clmr « wtorlsea its management . A groat many votes oi iJ ' " * and complimentary speeches wore oxolmngcm " » twoon tho directors and ' tho shareholders , wlio aoom mutually pleased at tho result of tho businosa ot year . With rogard to tho existing state o . t « o company ' s affairs it appoarud that tho balancoiwj year was £ 482 , 000 ; it was now 4050 , 000 , 1 ho now

  • Citation
    • Leader (1850-1860), Aug. 27, 1859, page 22, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_27081859/page/22/