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Leader (1850-1860), 24th September 1859, Edition 1 of 2, Page 1090, Untitled Article

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      Untitled Article

      Without , therefore , giving any opinion ourselves in this place as to the justice or injustice , the policy or impolicy of the war ; that the opinion of the mercantile classes , trading with China , or resident in its neighbourhood , is in favour of the war > carries with it no more authority than the opinion of any other class of self-interested and ignorant men .

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      Friday Evening . The Money Market c ontinues easy , and the rates are unaltered . The business is rather dull than otherwise , and-money is so abundant in reference to the demand , that at present a decline in the terms of discount seems more probable than a rise . Gold to the amount of £ 70 , 000 has gone into the Bank in the week , and more is coming forward . Money is equally abundant on the Stock Ex ^ change as in the open market , and business has , in in the weekThe

      consequence , been rather aetiye . _ news from Mexico is favourable to Mexican securities , and they have gone up front 18 to 23 % , The Mexican present Government seems disposed to redeem some of its obligations by the sale of Church property , and the mere payment of the coupons due on this stock will amount to a sum almost equal to its present price . The probability of the Church property being appropriated to this object , has , in consequence , had great influence , and there have been numerous buyers of Mexican stocks at

      advancing rates . Our own funds have been steady ; in the week Consols have fluctuated between 9 . 5 £ and 95 f , and the price to-day wast 95 $ . Other stocks and railtray -shares have been equally steady , with a fair amount of business . In the French funds the Three per Gents , are at 69 f . 30 c . The publication of the agricultural statistics of Ireland , which show an increase of 44 ^ 683 acres Tinder flax , illustrate the effects of price on production . Since 1853 , when the quantity of land under flax was 170 , 000 acres , the price has been low , and the quantity of land so cultivated has continuously declined to 90 , 000 acres . Bast year the price was high , and the land cultivated by flax has been increased a full lialf mor . e than in 1858 . The fact sho \ vs , iii conformity with the general law , that the best stimulus to production is the condition of the market . TVe subjoin the Bank returns .

      BANK OF ENGLAND . | n Account , pursuant to the Act 7 th and 8 th Victoria cap . 32 , for the week ending on Wednesday , the 2 lBt day of September , 1859 : — . ' , ' ISSUE DEPARTMENT . Notes issued ...... . £ 30 , 989 , 710 Government Debt £ 11 , 015 , 100 Other Securities .. 3 . 430 , 000 Gold Coin &Bullion 10 , 514 , 710 Silver Bullion .... ~ £ 30 , 089 , 71 ( £ 30 , 0 S 0 , 71 O BANKING DEPARTMENT . Proprietors' Capi- Government Secutal ... £ 14 , 503 , 000 rities ( including Heat .... 3 , 720 , 472 Dead Weight Public Deposits ( in- Annuity ) £ 11 , 220 , 018 eluding Exohe- ' Other Securities .. 10 , 317 , 820 quer . Savings' Notes 0 , 000 , 935 Banks , Commie- Gold and Silver sipners of Na- Coin 077 , 450 tional Debt , and Dividend Accounts ) 8 , 702 , 598 Other Deposits .... 13 , 810 , 882 Soven Day and other Bills . 830 , 280 £ 41 , 135 , 232 £ 41 , 125 , 232 . M . MARSHALL , Chief CaBhier . Dated September 22 , 1860 .

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      " ' JTriday Evening . Aix our accounts from the manufacturing districts cpntinue to be on the whole favourable . A temporary dulneas prevails in , Manchester in consequence of the new * from China ; otherwise business is very steady , and slowly expanding . The corn markets throughout the country show a tendency upwards , the consequence , we believe , of the unsettled weather . In Mark-lane to-day the market wns steady . Supplies wore good , arid the

      demand was equal . There seems now no apprehension , and there never has been since the corn laws wore repealed , the least apprehension of dearth , properly described as the scourge of Bavago life . Wo linve abundance of food , and as long as wo have aibundnuce of food wo shall either : have , or we may easily dispense with , an abundance of other things . In Minoing-lano there is a little inoroased activity . Tea , which has been inquired for , is now dull . Sugar la steady , with full business . There has boon more activity in the coffee market In the week than has of lot * b © on experienced . Several floating cargoes have j ^ , ' " \ ¦ ™ & « k , o , ¦ ¦ ¦ . ... . . ¦ , ; , ) , : ., ; . - ; a ¦ .:. ¦ ,, ¦; ,,., ¦ ' . " . . . ; . , . „ ¦ ;„/„ . „ >' , ,,

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

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      We have much pleasure in announcing the completion of a further portion of the East India Railway works . The line is ready as far as the River More , forty-eight miles from Birdwan , and will be opened for traffic very shortly . The magnitude of the works on this portion must be seen to be appreciated , and the result is highly creditable to the engineers engaged in the work . All the bridges , including the immense bridge across the Adjai , arc completed for a single line of rails , and there is little doubt but that ' the bridge across the More wilf be open for traffic in four months , if the same activity is displayed in its completion as in that over the Adjai .

      It appears by the report of the meeting of the G « J 3 r . oNO ani > Mexbouknb Railway Company held at Geelong on the 5 th July last , that the trafflo receipts for the previous six months were , £ 28 , 131 12 s . and the expenditure £ 21 , 676 is . 8 d ., leaving a balance in favour . of the shareholders amounting to £ 6 , 555 los . 4 d . A meeting was appointed for the 26 th of July last , to consider the proposal for transferring the railway to the local Government , at which the English shareholders would be represented . A report of the proceedings is oxpectcd by the mail in October next . The twenty-eighth half-yearly mooting of the SAamnE and Mbusb Raw , way Company is oalled for tho 12 th Oct ., and that of the West Flandeks Railway Cojhvany for tho 14 th Oct . The direction of the ' Dutch Rhenish Railway Company advertise the payment , in due course , of

      the interest coupons due the 1 st prox . on their loan of . 4 , 800 , 000 florins . The increase in the receipts of the North Staffordshire Railway , for the week ending the Uth inst ., is £ 1 , 307 . The receipts of the Grattd Trttnk : Railway of Caxada , for the week ending the 3 rd inst ., show-an increase of £ 374 . The receipts of the Oxfobjd , Worcester , and Wolvebhampton Railway Cosipaky , includin g the

      Stourbridge . Extension and . Stratford-upon-Avon . Canals , for the fortnight ending nth September , have been £ 10 , 264 Os . lOd ., whilst those for the corresponding fortnight of 1858 amounted to £ 9 , 580 12 s . 10 d . ; and the expenditure , also including that of the Stourbridge Extension and Stratford-upon-Avon Canals , £ 3 , 964 6 s . 3 d ., being at the rate of 38 . 62 per cent ., whilst those for the corresponding fortnight of 1858 amounted to £ 3 , 608 17 s . 5 d ., or at the rate of 37 . 66 per cent .

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      At the adjourned Court of Proprietors of the Bank op England it was announced that the dividend declared on Thursday for the half-year ending in August , at the rate of 4 £ per cent ., Las been confirmed by ballot . At a meeting of the Commercial Ba > tk of Sydney , at Sydney , on the 12 th ef July , a dividend for the half-year was declared at the rate of 18 per cent . per annum , absorbing 23 , 51 Jl ., an addition of 4 , 000 / . was made to the reserve fund ( thus raised to 54 , 0001 . ) , ' and 4 , 908 / . was carried forward .

      At a recent meeting of the directors of the Baxic or Bengal , seven of the candidates were selected for the secretaryship . A majority of tke directors however , evincing a desire to get a man from England , it was moved that a committee be appointed in London , consisting of . Messrs . J . A . Dorin James Church , and some other gentlemen of Indian experience , who may be requested , to select an English financier for the new post . We also hear that the Government directors present were unwilling to throw open this appointment to the civil service against the spirit of Lord Dalhousie ' s minute . .

      At the meeting of , the North Rhine Copfeb Company op South Australia , Mr . Cope in fixe chair , the first annual report was presented ; from which if " appeared that the whole of the shares had been issued and paid upon ; and that in April last the property had been duly transferred to the company for the sum of £ 10 , 000 cash . The first consignment of 385 bags of ore had arrived in London , and had been despatched to Swansea . It was expected that , as the miners proceeded to a greater depth , the returns of ore would be considerable . The accounts showed an available balance pf £ 9 , 185 11 ? . 7 d . in favour of the company . The report was adopted .

      At the meeting of the Chartered Bank or India , Australia , and Chixa , a dividend was declared for the half-year ending in June at the rate of 5 per cent , per annum . It was stated that tho bank continues to make satisfactory progress , and that a considerable increase has taken place in tho business . The branch at Singapore 1 ms been I ally started , and promises to bo a valuable link between the India and China establishments . A new branch has also been Opened at Hongkong . The late calls have been promptly met , and there « iro none overdue in England . In India there may possibly u ° some delay , but no ultimate default is wxuuetod . The balance of profit in the past six months was about 16 . 50 QZ ., subject , however , to jibfttemonts ,. tivo second half of the year determining tho result oi the great trading operations entered into in the first . About 9 , 000 * . will be absorbed by tho i » x e-Bent dividend .

      Untitled Article

      CONSUMPTION OF COTTON IN EUROPE . Last year , to the end of December , oux-total imports of ootton were 1 , 034 , 342 , 176 lbs ., of w iicli o derived 823 , 000 , 000 lbs . from the Un tod States , n »« the remainder chiefly from the British hast iniMOs and other countries . Of those Imports , » w ^ - we re-exported 149 , 600 , 000 lbs ., leaving o ou » supply 885 , 700 , 000 lbs . Wo have soen , 1 OW 0 ^ JJ Um { the exports from tho United States to other countries than Great Britain , chiefly in J- «» ° Pf were almost one-half as great as the exports I . men and adding to them the exports from ° «* ^"' "JJ . we shall got a tolerable measure of the cotton hum u factures of the other countries of Europe . »» P nnnlno t . linfi tliftir im * . nft RllTinHoS dlrCCt IfOIll II '

      Kt&ndtea , ^ Brazils ; and ^ gy . , tm * o >* J J their suppUes of the cotton of those w «» J » , through England , which is not exactly , but uw the fact , thqlr supply and our wipply « t » nd " '

      Aeneteabe Ebp0et

      been taken , supposed on speculation , and prices have had an upward tendency . To-day the quantity of coffee offered is large , but it is steadily taken . That there is little to report of Trade is a sure sign that business is on the whole good . Trade , like a woman , is more respectable as it gives little occasion for many remarks . All the raw materials of our manufactures , we are happy to say—silk , cotton , flax , hemp , and wool—indicate abundance , as the prices tend down wards , and the market for them , is dull .

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      MONEY MARKET & STOCK EXCHANGE

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      GENERAL TRADE REPORT-

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      RAILWAY INTELLIGENCE .

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      * ox . dlv .

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      Last This i "Week Week STOCKS . 3 per cent . Consols—Money £ § 95 * . Ditto Reduced 06 $ Ditto New 96 Bank Stock • 22 ° 220 * . India ' ¦¦• 'X 217 Exchequer Bills 23 23 Canada Government 6 per cent . .......... 1 ^ 4 112 New Brunswick Government 0 per cent .. ;{ New South Wales Government 5 per cent . 9 Sf 110 $ South Australia Government 6 per cent .. 109 110 Victoria Government 6 per cent . no ill Austrian Bonds , 5 per cent . Brazilian Bonds , 5 per cent „ „ French Rentes , 3 per cent 68 . 90 Mexican Bonds , 3 per cent Peruvian Bonds , 4 J per cent .. Spanish Bonds , 3 per cent . 40 f Turkish Scrip , 6 per cent 83 g .. RAILWAYS . Bristol and Exeter . . ... > . 98 99 Caledonian ... - - 85 * 88 i * Eastern Counties ..-......... .. 003 . 66 £ EaatXancaBhire Great Northern 101 * 101 $ „ Western . 59 * 62 liancashire and Yorkshire ................ 95 s 96 * London and Blackwall ...... C 4 £ 66 London , Brighton , and South Coast ....... 112 112 London and North-Western . 93 £ 94 J London and South-Western ......... * ..... 02 ¦ 93 Midland 1 WJ 105 * NdrthBritish ,. ... CS £ 09 ? North Staffordshire 13 4 d Oxford , Worcester , and Wplverhampton .. 32 32 South-Eastern .. ' — 75 75 J . South Wales ..... ... , . 03 03 ^ Bbmbay , Baroda and Central India 17 17 Calcutta and South Eastern + p Eastern Bengal &d $ d Eastlndian »» i 100 J Great Indian Peninsula 0 S £ 98 Madras 00 90 Scindo 10 i 19 * Buffalo and Luke Huron 6 d ¦ 5 * . Grand Trunk of Canada 34 * 30 Great Western of Canada 13 $ 13 J Antwerp and Rotterdam . 4 ft 4 S Dutch Rhenish 5 Jd 4 | d Eastern of France ... — ' 20 2 / Great Luxemburg * 05 7 % Lombardo-Venetian l&p .. p Northern of Franco 37 374 Paris , Lyons , and Mediterranean ........ 35 35 Paris and Orleans 65 CO Southern of France SJOJ 21 Western and Worth-Western of France .. 23 23 J

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      JOINT STOCK COMPANIES

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      1 GQO T HE LKAFER . fKo . 496 . Sept . 24 , 1859 .

  • Citation
    • Leader (1850-1860), Sept. 24, 1859, page 1090, in the Nineteenth-Century Serials Edition (2008; 2018) ncse-os.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2313/page/22/