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    Ko. 440, Atotjst 28,1858 j THE LEADE R. ...

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    RAILWAY INTELLIGENCE. ^TBBweek has been ...

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    COLONIAL AND FOREIGN PRODUCE MARKETS. RE...

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    RAILWAY ACCIDENTS. The Report of the Sel...

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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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    Ko. 440, Atotjst 28,1858 J The Leade R. ...

    Ko . 440 , Atotjst 28 , 1858 j THE LEADE R . 883

    Railway Intelligence. ^Tbbweek Has Been ...

    RAILWAY INTELLIGENCE . ^ TBBweek has been distinguished by meetings of many of the minor railway companies , but no particular circumstance has been developed calling for special remark . We trust , as soon as the . bustle incidental to these semi-annual gatherings , and the payment of dividends hall have subsided , that directors -will set to -work earnestly , and in good faith , to draw up such a scheme of railwayjwilicy as will be calculated to attain the desirable end of terminating contests and developing traffic .

    It is quite clear that a disposition to meet each other { if we except the Great-Northern ) and arrange differ-« ncefl , exists on the part of the leading railway companies . We shall not stop to inquire whether this unwonted harmony of feeling is due to awakened good sense or to pressure arising from vanishing dividends and discontented shareholders . That it does exist , is proved by the open speaking and admission of several railway chairmen , and it therefore remains for the shareholders to take care that this good disposition is not suffered to cool , but is made to bear legitimate fruits in a new policy , and in a permanent cessation of ruinous competition .

    Russian Railway's . —The report presented at the general meeting of shareholders in the Grand Russian Railway Company , held at St . Petersburg on the 26 th of June , states with reference to the five great railway sections , comprising in all 2585 miles , the company propose to concentrate their energies as follows , viz .: —1 . To connect as soon as possible St . Petersburg with KOnigsberg , and with the Prussian system . 2 . To push forward , actively and open in the shortest time the line from Moscow to N"iJni- ] Hovgorod . 3 . To commence during this year the -works on the southern line , between the Samara and Theodosia , in order to effect the junction of the Dnieper above the cataracts opposite

    Ekaterinoslavwith the Black Sea . It Is anticipated that the communication with Prussia , without break of line , may take place at the beginning of the year 1861 ; and that the remainder of the line to Warsaw may be opened for traffic in 1862 . As regards the Southern line , and more especially the section from the Samara to Theodosia , the directors announce that they will shortly be in a position to make the contracts for the immediate execution of the works across the Crimea . The result of the working from May until December Of the only portion of the lines opened for traffic , viz . that between St . Petersburg , Gatchina , and Louga ( making a total distance of about 57 miles ) was a surplus of only about 212 / . 10 s . over the working expenses .

    The report remarks that this io " air auli wUlcn might bare been expected , the traffic carried on by us in 1857 having been merely experimental . " The financial Statement ehows that the sum at the disposal of the company on the 31 st May last was 3 , 389 , 2922 . It is pointed out that the twelve millions sterling , secured to the company by the first payment on the shares issued , will not suffice to carry out the estimates submitted in the report . An issue of debentures lias been accordingly resorted to . Of these the Government take a portion on account of the Provincial Benevolent banks ; other public bodies have made similar proposals ; and a total of about 8 , 200 , 000 ? . of the loan is - thus provided for . The whole issue of debentures being . 5 , 600 , 000 ? ., a sum of 2 , 400 , 000 / . has been assigned to the general public .

    Gband Tbuuk op Canada . —The step lately adopted by the directors of the Grand Trunk Railway of Canada , with a view to induce the shareholders to xaise the capital required fox the completion of the undertaking , has been followed by an extraordinary fall in the price Of the stock . The proposal put forwarded presses with peculiar severity upon the poorer class of stockholders , many of whom , bring unable to increase their stake in the undertaking , will have the mortification of seeing the advantages derivable from the directors plan monopolised by their more wealthy fellow-partners . —Times . ( We think it right to ad vise small capitalists to look veil before they invest in this line . )

    Colonial And Foreign Produce Markets. Re...

    COLONIAL AND FOREIGN PRODUCE MARKETS . REVIEW OF THE WEEK . Mincing Lane , Friday Evening . Busotess , although somewhat inactive , continues healthy . The easy condition of the inoney market facilitates the steady progression of bonafide trade , but the magnitude of existing stocks , and the continuation of rather liberal arrivals , still keep speculation in check , and induce the legitimate trader to "withhold purchases as Boon as he finds them affecting prices to his disadvantage . Meanwhile the clearances from warehouses indicate a large and increasing consumption of most of the leading products , and as the condition of the working classes is necessarily improving by the extension of manufacturing operations , there is every prospect that tbis important feature will be permanently sustained . /

    The Board of Trade Returns bear satisfactory evidence of an advancing trade in foreign and colonial merchandise throughout the country . The duty-paid entries of sugar continue greatly in excess of former years , as also do the exports of coffee . The home deliveries of tea show an increase of nearly 1 , 000 , 000 lbs . on the seven , months . Of nearly all products the imports have been very large , and except in the article sugar , the extension of home and . export clearances has not trenched materially upon the aggregate stock in ' - 'the ' . * United Kingdom . . v

    Sugar . —The market continued inactive until yesterday , when the demand somewhat improved , and rather a large business was concluded in West India descriptions , rnces nave uiRtcigvue very little fluctuation . Good grocery qualities have made rather higher rates , and brown and inferior yellow have in all instances recovered the recent decline . The landing of 8800 tons has again increased the stock , but the deliveries , which for the week reach 4900 tons , are much in excess of last year ' s , so that the relative position of supplies in the two periods remains about the same as before . The Netherlands Trading Company have advertised 57 , 376 baskets Java sugar for sale at Rotterdam on the 1 st September against 22 , 132 baskets in September last year , and the valuations are said to be affixed at 1 J to 2 fl . above the last public sales . On the Continent as well as in the United States , the markets are advised as active , with ah upward tendency in prices .

    Molasses . —Small sales of Antigua made at 16 s . Gd ., which is the former value . Drysalteries . —Cutch firm , and sales at 34 s .. Garabier steady at 15 s . to 15 s . 6 d . West India . —The week ' s transactions comprise 4037 hogsheads , including Barbadoes at 39 s . to 46 s . for low to good grocery . Demerara , 44 s . to 484 . ; Grenada , 38 s . to 43 s . 6 d . Mauritius . —The public sales have offered only 1985 bags , a small portion salvage , sold at 34 s . to 35 a . for brown , low soft to fine yellow , 38 a . to 4 . 5 s ., grainy , 45 s . 6 d . to 48 s . Bengal . —3983 bags realised 31 s . to 86 s . Gd . for low brown date , 87 s . to 38 s . 6 d . for low to middling yellow Dumma date .

    Madras . —5100 bags good grocery kinds met a good competition ] and realised full prices ; good and very superior growing yellow 46 s . 6 d . to 48 s . 0 d . ; middling to good , small grain 43 s . Gd . to 45 s . Gd . ; syrups 41 s . to 41 s . 6 d . per cwt . Pbnano . —The whole of 5889 bags refining kinds was bought in rather above market dates , brown at 88 s . to 89 s ., and yellow 89 s . 6 d . to 48 s . per cwt . Foreign . —52 hds . St . Crois sold at 12 s . for brown and 44 s . to 46 s . for low to fine grocery - , 200 hds ., 10 trs . Cuba Muscovado , brown and yellow 83 s . to 44 s . 6 d ., a portion salvage 35 s . to 39 s . ; 100 bxs . clayed , mid . to good yellow , 48 s . 6 d . to 4 . 5 s Cci . Floating cargoes have been steadily held , but buyers have actod with reserve , ami only one , consisting of 200 tons Rio , is reported to have been sold , at 25 s . per cwt . f . p . a .

    Refinisd . —Stovcd goods have met a very limited demand , but prices are steadily maintained ; Brown Lumps have realised 63 s . per cwt . Unatoved goods continue in request , and Pieces have sold to a fair extent at 40 a . 6 d , and 47 s . per cwt .

    Cora-EB . —The clearances bave somewhat fallen off especially those for export , bnt the demand is well sustained , and the rather liberal supplies brought on offer have been readily disposed of at full prices . The sales comprise 780 casks , 850 barrels and bags Plantation Ceylon ; low mid to middling , 64 s . 6 d . to 67 s . ; middling to good middling bold colory , 68 s . 6 d . to 76 s and good bold blue , 79 s . to 81 s . ; 296 casks Neilgherry low mid to good mid colory , 65 s . 6 d . to 76 s . 6 d . ; yellowtriage and ordinary , 57 s . to 60 s . ; pea berry , 71 s . to 74 s per cwt ; 653 casks Tellicherry , middling to good middling palish , 66 s . to 74 s . per cwt ; 150 bags CosU Rica , 50 s . to 64 s . A floating cargo" St . Domingo is reported sold , but the price has not been allowed to transpire .

    Cocoa—Small sales of middling red Grenada have been effected privately at 46 s . 6 d . ; but 300 bags Trinidad in auction obtained scarcely any bids and were all bought in at 56 s . to 70 s . for grey to fine red , except one lot good grey which sold at 52 s . 6 d . per cwt . Spirits . —The arrivals of rum have increased the stock to 28 , 355 pna . against 26 , 340 pns . at this time last year . The market is steady . Demerara sold at 2 s . 2 d ., proof ; Jamaica , 3 s . 9 d . ; Leeward Islands , Is . 8 d . to-Is . 9 d . per gallon proof . Sago . —A small sale of 150 cs . -went steadily . Common large grain bringing 17 s ., and yellowish to fine white medium 19 s . 6 d . to 22 s . per cwt .

    Saltpetre . —The delivery of 278 tons against a landing of only 45 tons , has further reduced the stock to 3580 tons against 4970 tons last year . There have been free buyers of both landed and floating parcels , but business has been to some extent checked by the high prices required . On the spot the sales are about 3000 bags Bengal , 11 per cent at 41 s , ; and 8 J to 6 per cent , at 42 s . 6 d . to 44 s . 6 d ., with small lots 3 £ per cent , at 47 s . per cwt . For arrival 300 tons have been sold at 41 s . 9 d . English refined has been advanced Is . per cwfci and is now quoted 44 s . per cwt . Int > igo . —East India descriptions are firmly held , and the demand has this week been again active . Public sales of 128 srns . Guatemala , of indifferent assortment , went unevenly at rather lower prices for all but the good qualities ; 3 s . 2 d . to 6 s . 4 d ; was paid for low lean cortes to fine sobres . : ; " - •' : ¦ : >¦ ¦ ¦ ' . . ;' -.

    Cochineax ,. — -The sales have offered 310 bags , which met only a moderate competition . Honduras grain sold in some cases rather cheaper . Other imports were chiefly bought in . Prices ranged as follows : — Honduras silvers , clean small to good bol ^ 3 s . 6 oL to 4 s . id . ; pusty , 3 s . 3 d . ; blacks , 4 s . 3 dMo 5 s . ; Terieriffe silvers , 3 s . 7 d . to 3 s . 10 d ., and blacks , 3 s . lid . to 4 s . Id . per lb . Rubber . —Rather a large business has been concluded in good East India lump , at 7 £ d . cash . Para is firmly iieiu , aua nne quoted at la . id . t » la . 6 d . per lb . Hemp . —Russian has been taken off more freely at rather better prices privately , and in public sales 30 tons St . Petersburg clean sold at 29 ? . 5 a . per ton for sound , and 28 ? . 5 s . for slight damaged . Manilla hemp has also been more on request , and business is reported privately at fully late rates , but 665 bales in auction met only a partial sale at 26 / . 5 s ; to 271 . 5 b . for fair Toping .

    Jute continues in active demand , 2000 bales have been taken for arrival at-172 * . 10 s . ex-ship for Nos . 1 , 2 , and 3 , with allowance for damage ; and 2000 bales on the spot at 10 s . to 15 s . advance on the sales of Wednesday ^ week , besides which 3100 bales were 'disposed of in auction at 161 to 20 ? . per ton for medium and good , fully confirming the private terms . Coa—96 tons 1000 bales yarn sold steadily at 19 a . to 26 s . for coarse to medium ; several parcels fibre , 232 . 15 s . to 25 / . 10 s . ; 990 coils Cochin rope 25 ? . 5 s . to 31 ? ., and 20 tons Cochin Junk 14 ? . 7 s . 6 d . to 22 ? . 15 s . per ton . Flax . —In consequence of the unfavourable crop accounts , priceB have advanced 8 / . per ton in the North , which has rendered holders less disposed to sell here , but business is too restricted to establish quotations .

    Cotton . —The improved condition of the manufacturing trade has induced a better tone in the market for the raw material , and transactiono bave been upon a larger scale both in London and Liverpool , whilst prices have in general had an upward tendency . The week ' s sales at Liverpool are 66 , 400 bales ; prices Jd . higher for Upland , and l-16 th for Mobile . Imports , 55 , 572 bales . The week ' s business in London is 1300 bales , including 1000 Surat at 8 { d . to 5 id . for ord . seedy to good fair , and 800 Madras * at 5 d . to 5 id , for ord . seedy to good fair Tinnerelly .

    Metals . —Transactions are still limited in extent , but quotations generally firm — Scotch pig iron is worth 55 s . 6 d . to 56 s . The week ' s shipments are reported 12 , 893 tons against 10 , 786 tons in the corresponding week last year . The few sales of tin have been at 114 ? . for Straits , and 116 ? . for Banca ; Spelter is quoted 23 ? . 10 s ., which , is again easier . Copper and lead remain without Alteration in value . To-day Straits tin sold at 115 ? . in auction . Oil-seeds . —The week ' s arrivals of Unseed are 8850 quarters , the whole East India , except 750 quarters , which consisted of Alexandria seed , and of which 400 quarters have sold for export at 51 s . 6 d . ex ship . Bombay seed offers at 60 s ., and Calcutta at 60 s . to 58 s . on the spot . Of the latter , as also of Taganrog , several sales have been mado for arrival at 58 s . delivered U . K . Rapeseed is still drooping in value .. Calcutta , fine , 67 a .

    Railway Accidents. The Report Of The Sel...

    RAILWAY ACCIDENTS . The Report of the Select Committee appointed to inquire into the Causes of Accidents on Railways , and into the possibility of removing any such causes by further legislation , has been published . Tlio report states that the causes of accidents on railways may be classified under three heads : —Inattention of servants ; defective materials , either in the works or rolling stock ; excessive speed . The opinion of the committee is , that the supervision necessary to check the carelessness of men employed , and insufficiency of matorial , is best given by the companies themselves ; but that the Board of Trade should be invested with the fullest powers to investigate and report in cases of accidents or neglect of the companies .

    A rate of spe « d considerably in excess of what is safe is sometimes attained on many of the lines . Such excessive speed has arisen , not so much from the average speed required as from the want of strict punctuality in the time of the departure and arrival of trains , which leads to increased speed to make up for lost time .

    The committee does not recommend any direct legislative interference by tie House upon the question of the extreme speed at which railway trains may be permitted to travel . But perfect regularity in the time of departure and arrival by the trains , a material element « f safety in railway travelling , may be attained by enacting that —the public should have some means of obtaining prompt and cheap redress in the recovery of penalties in every case of want of punctuality- The necessity of communication between guard and engine-driver is insisted upon , and various sugges ' tions are made with regard to telegraphic communication , the distance apart of telegraphic stations ; but the day and night signals , breaks , & c , are better left to the railway boards' own management . In conclusion , it is the opinion of the committee that the Board of Trade must apply to Parliament for sufficient powers to carry out the above recommendations .

• Citation
  • Leader (1850-1860), Aug. 28, 1858, page 27, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/cld_28081858/page/27/