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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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. CITY , Friday Evexing . A steady improvement in trade has been perceptible during the week- The applications in Lombard-street have been of a class to indicate the agreeable fact that business generally is reviving , and that its character is of the soundest description . The applications to the Bank of England have been restricted in amount , but this of coarse is to be expected as long as out-door rivals undertake to do the same business at a reduced rate .
Attention is being concentrated on the constant accumulation of geld in this country , and conjectures are ventured upon in . relation to the possible effect that this accumulation may have on prices and on the commerce of the country . In looking at this question , financiers generally seem to mix up the question of the accumulation in the vaults of the Bank of France with that of the B ank of England . ; The two questions are distinct , and have very little direct relation to each other . The gold in the Bank cellars , though large in amount and likely to be much larger , as about one million and a half is on the way here , is not , as many conceive , so much idle unprpducvaultsbank
The Peninsular and Oriental Steam Navigation Company will not despatch a steamer from SouthamptonTor Bombay on the 11 th . The company intends sending out a steameT from Southampton on the 2 oth , with passengers , &c ., for Bombay . _ . ¦¦ „ , The Council-General of the department of the H . erault , which has just held its annual sitting , has again strongly expressed itself in favour of free trade . After a long series of wtsiderante it expresses its gratitude to the imperial Government for alleviations that have been introduced into the customs' tariff with regard to various articles of subsistence and raw materials , and especially for the decree which * in the interests of agriculture , lowered the duty oh sulphur . On the Paris Bourse during the month a sustained and considerable rise has at length been witnessed . The improvement now amounts to 3 £ per cent . At Vienna there has been a decline of 1 per cent .
On Monday , at Liverpool , a meeting of the creditors of Messrs . Holme and Slater , merchants in the Honduras trade , who stopped payment two or three weeks ago , soon after the . failure of Messrs . Hyde , Hodge , and Co ., took place ; the liabilities arc 81 . 077 / ., and the assets only 33 S 17 ., showing a deficiency of 77 , <> QGl . The affairs of Mr . J . Caiinichael have engaged attention for the last fortnight or three weeks , but the attempt to enable him to resume payment has thus far been fruitless . . In the Bankruptcy Court a meeting was held for the proof of debts and choice of assignees under the bankruptcv of Messrs . Avres and Mclliss , merchants , late of Nottingham and New York , whose liabilities are stated to amount to as much as 400 , 0007 . The adjudication was made on the 22 nd of June last .
Private letters from China state that the shipments of specie from Hong-Kong to India continued on a large scale , the total in the interval from the 1 st to the 7 th of July having been 350 , C 00 Z . Very little was known at Canton of the result of the operations of the allied powers in the north , but a rumour was in circulation , that the expenses of the War are to be paid out of duties collected at Canton , and that that city is to be held as a material guarantee . It is hoped . that the peace will include the right of navigating the rivers , otherwise the trade in Britisli imports can never become what . it ought to be . Advices from Guatemala state that the cochineal
crop , which promised to be unusually large at the commencement , has not exceeded 9600 serons , continued rain in the later months having caused great destruction . Notice has been given that the liquidators of the Northumberland and Durham District Bank will be prepared to pay all creditors for sums under 1 Q 01 ( 3000 In nuiuber ) 15 s . in the pound , in full discharge of their claims , on the 14 th , loth , and 16 th of this month , Consols yesterday were firm , at 9 G 11-16 to ? , for money and the 7 th September .
tive Ccipitai . If gold is in the Bank , - notes are doing its duty in every department of cpminerce and manufactures—in this respect , therefore , no anxiety need be felt . This , country , it must be l-ecollected , is the chief market for gold ; the precious metals freelv flow heje from the inevitable action of commercial laws " , and when a profitable demand arises elsewhere they will flow out just as readily . "We have a v ast external commerce , and , therefore , have need for the , ready command of a large amount of gold . " Wemust be prepared for causes which are pretty certain to arise in the . common course of events , likely to draw off our superfluity . The drain to the East has ceased ,
because the East is saturated with silver bullion , and gold is no longer . needed to " purchase silver with . Of the several ways in which the present plethora of gold would be most effectually relieved , those which no one would wish to see realised are not beyond possibility . First , should a deficient harvest occur , then we must-part with our gold for foreign corn ; next , a war may suddenly arise , by which our gold would soon be carried off . We do not say these are the only channels through which accumulated gold can flow , nor do we say it is desirable that our gold should flow away through . such channels , but certain it is , whenever these accumulations rlo take place , something unforeseen is tolerably sure to arise bj' which our public hoards are diminished . But then comes the grave
question Will the constant additions to the stock of gold made concurrently by California , Australia , and Columbia , have a marked action on prices ? It would be idle to doubt that if the present accumulations go on , and if corresponding outlets do not present themselves , the effect must be very marked on prices . The question , however , is hardly ripe for discussion , but the hour is rapidly approaching when it will force itself on the attention of financiers , and -will come home to every one engaged in trade , and holding any description of realised property . With respect to commerce , a very large increase must be expected ; but it will require all the caution that can be exercised in every influential direction to prevent that increase from directing itself into speculative and unsound channels .
The Turkish Loan has been floated in our market by tho assistance of dealers . The premium was not a legitimate premium , it was , as we are advised , partly made up by arrangement with certain firms deeply interested in the loan . That the public have no faith in tho security is clearly evidenced by the fact that the premium has all but disappeared , and that , the , mos ) t , strenuous e ^ erjtipns , are being made , , tp prevent the price going below par . Nothing can more strongly inuiaato the necessity of character , and political
and iUiancial stability in . nations , ' when they require loans from this country , than the reception pf this loan . With a guarantee of 6 por cent , and a subscribing price of 85 , yielding more than 7 per cent , if tho seourity were sound , the premium ought to bo at least CO por cent . But moneyed mem doubt , and not unreasonably , the position of Turkey ; they distrust her financial solvency , and they dp not credit nil tho fine things in her favour that have appeared in the columns of certain Stock Exchange daily organs . Our own opinion is , that tho now Turkish Loan is very dangerous stock . It may
in . iJiUCP-u ' SH ^ . i ^ LiSflP rt * . PiM * ilr , ?" ... "! 0 Y ^ W 0 ! 1 ' . ? TO hftV 0 i h"iiul « j " their niarkef . It may take rank eventually among the scores of foreign loans which will never repay this country « shilling interest or principal , and then the holders will have no one to blame but themselves . Yesterday came into operation tho official notification recently issued' by tho Post-ofilco authorities , by which , it is made compulsory to prepay tho postage on all letters addressed to the East Indies , whether by way of Southampton or Marseilles . This rule , it will be remembered ) also applies to letters from India to the United Kingdom .
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Copper Market . —^ -Messrs . Trueman and Fry state that Copper has this day fallen £ d . per ton ; Manufactured , HAd , ; Tough Cake and Tile , 1027 . 10 s .
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BANK OF ENGLAND . An Account , pursuant to tho Act 7 th and 8 th Victoria , can . 32 , for tho week ending on Wednesday , tho 1 st day of September , 1 S 58 . ISSUE DEPARTMENT . £ i £ Notes issupd „ .. 31 , 538 , 850 , Government debt .. 1 I . . JOO ; Othor securities ... 3 , 450 , 1 ) 00 I Gold coin and bul-, lfon 17 , 003 , 850 i Silver bullion . € 31 , 5 ! J 3 , 8 fiO ¦ . £ 31 , 533 , 850 BANKING DEPARTMENT . A . i ¦ £ . Proprietors ' capital u ., 553 , 000 Government secti-Rosl 3 , 0 a 0 , 972 l ' ities ( including . rubUo deposits ( hi-, . Pead Weight , Aucludiriff ' Exalte- unity ) / ....:.... 10 , 012 , 281 quor , Oottuni » Nion- Othor Securities . Il 5 , < t 53 , ;) 2 't era of National Notes 11 , 230 , 030 Debt , Savings' Gold and Silver Banks , and' Divi- Coin 733 , 310 dondAccounts ) .. D , fl 27 , B 55 OCliordeposits .... 13 , 071 , 788 Sovon Dny & other Bills 700 , 100 £ 38 , 330 , 091 I £ 38 , 336 , 081 At . MARSHALL , Chief Cashier . Dated tho 2 nd day of Soptomber . 1808 .
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FROM THE LONDON GAZETTE . " ' ¦ " ""• " TiFffsu&pryi'iisni' $ i t '' 3 i . "" """" BANKRUPTS . — Edward Joh . v Cook , Suffolk , wlno merchant — Gbojigb Rosis Uihohur , Staffordshire inn * Kooppr-rTnoiiAS Pawson . Birmingham , prlutior—EnwAKD BnEKBTON Baldwin ; Stairordshlro , saddlor—John Madin and Richard M ' ojiistjbr , NotthiKhninbhlro , common brewers ~ Wiiimaj « Nicholab Johns , Monmouthuhlro , Btattonor-AVjtfc&iiCM Ahnoj ^ l Bailey , Devonshire , spirit morqUnnt—IlBNitx Eaunsiiaw , Yorkshire corn millervviwjam ; Parsonaohi , Liverpool , auctioneer — Josicimi Rojibutb , Liverpool , ironmontfor . SOOTpH SEQUESTRATIONS .-J . nndT . Steven , Burnk » y . ^ ooulma 8 tprH .- . r . Albxanpeb , Glasgow , plumber—J . M'Kewzid ( Edinburgh , oivtlug * houi 3 o keeper .
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MONEY MARKET AND STOCK EXCHANGE .
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BOOKS RECEIVE !) THIS WEEK . Rita : an Autobiography . 2 vols . post 8 vo .. R . Bentley . Six Montlis in British Burnvxh . By T . C . Winter . Post Svo . K . Bentley . Service and Adventure -with the Khukee Ressalah . By R . H . W . Dunlop . li . Bentley . My Escape from the Mutinies in OudJi . Fcap . 8 vo . II . Bentley . ' Five Years of It . By Alfred Austen . 2 vols . post Svo . J . F . Hope . Literature of American Aboriginal Languages . By IlennannE . Ludgwig . Edited by N . Triibner . Svo . Triibncr and Co . Tales from Blac / cwood . Vol . II . Fcap . 8 vo . "W .
Blaekwood and buns . ^ 77 ie ¦ '¦ " Orlando Furioso" Translated into English \ ers ^ by W . Stewart Uose . Vol . II . Small 8 vo . ( Bolm ' s Illustrated Library . ) Lord King ' s Life of Locke . Small 8 vo . ( Bohu ' s Standard Librarv . ) China— -the Times Correspondence . By G . \ Tingrovc Cooke . Fcap . Svo . Routlcrtge and Co . Law andLaicyers . By Archer l'olson . 18 mo . KpuU ledge and Co . History of the Ancient Sects . By the Rev . Duncan M'Callum . 12 mo . J . Menzics . Curiosities of Literature . By Isaac Disraeli . A ne v edition , with Memoir by the Right Hon . B . Disraeli . Vol . I . Fcap . 8 vo . Routledge and Co ..
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Chess . —Oh Friday , the 27 th , Mr . Morphy played eight games bliudfold : His opponents were Lord'Lyttelton ; Mr . Salmon , . the best player Ireland anbrds ; Mr . J . Kipping , junior , a very strong player ; Mr . Averv , president of the Brrnrinyham Club ; Mr . Cm r , secretary of the Leamington Club ; Dr . Freeman , Mr . Rhode , * ,, and Mr . \ V . 11 . Wills . The play commenced at one o ' clock , and terminated about a quarter past six , and resulted in Mr . Morphy winning every game except the one with Mr . Kipping . Mr . Morphy sat at one end of the library ; at a tuble at the other end sat his eight opponents , with their eight boards before them . Mr . Morphy , gazing at the lozenged window above him , and leaning carelessly with his arm thrown over the bench
on which he sits , attacked each board in succession . Move and counter-move were audibly announced by n friend , and when the tables had been traversed one move at ft time , the process was recommenced . Mr . Morphy had the whole eight games so thoroughly " in his head , " that when a piece was accidentally shifted on one of tho boards , and a move was made in which it was involved , ho at once detected something was wrong , and oxclaimed that it was '' on impossible move . " Such it wa 3 acknowledged to be . In tho same game , M r Morphy left a piece , en ;» w , the taking of which involved a mate in a few moves , and accordingly on his adversary taking tho piece , unconscious of tha snare laid for him , tho giimo 'became Mr , Morpliv ' s
almost immediately . His play was very rapid . Encli game lasted on thu average about thirty moves , so thai : he had to bear in mind at least two hundred and forty moves , and tho position of every board throughout from beginning to end . Of the eight simultaneous gnmc ? , Mr . Morphy won six , drew one , and lost only one The eight games occupied about six hours . Tho mutch arranged between ' Messrs . Stnuntbn And Morphy sfrtmls thus : —Stake , 500 / . a side ; the scorer of the first cloven games wins ; to commenco on tho 1 st of November next . Mr . Morphy was to proceed from Birmingham to Paris , to challenge Herr Hnrrwitz , and probably afterwards to lireslau , to play Herr Andorfson ; but it is expected that tho latter match will bo played in London . —Jiirmwyham Journal .
Baptism uv Suiii'hisu . —A correspondent from Rome writqs as follows to tho J Joints : — I otutcd hojiio tinio ago that a Jewish child had boon taken away from its parents , at Bologna , on the plea that it had boon smcretly baptjsod by a servant . A bull of Benedict XIV . expr ifj ^ sly . far ^ H ^^ Hiifl l ^ Mlttlng of Jywj . by ^ uj fy'foP . ! , ° *~ copfc when I hoy are in imminent dnngor of dualli . "' 1 " that case baptism may bo secretly administered , but tho bishop must be immediately informed of tho fact ; and in tho event of tho patient ' s recovery , lie is then Uikon from his parents to bo educated as a Christian . TIiIh was tho case in the present instance ; tho father , finding it impossible to recover his child , solicited an audience of tho Popo , who grouted it without dlftlonlty , and pmi him permission to fioo his son , on condition that ho mIiouKI not hold any convtirnation with him circulated to romtov his conversion ubortlvo . "
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QTft THE LEADED [ Ko . 441 , September 4 , 1858 ,
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Friday . Septembers . B ^ NKIHIPTSi—Thomas j . Taylo h , Stoke Newinetonroad Middlesex . Rrocer— FiHNEas JI all , Boltpn . contractor -JoVat ^ n Marshall . Tadcastcr . Yorkshire . Rrpcer-EbwtED eATTKKNs , Coventry , hatter-Geokge White , Brmincrhaiu , grocer— Abraham David Lewes , North Shioldsrwine worchant-Joseph NVRiQHT . ^ oventry . watch iiianufact . acr-Richard Smith Buun Nc \ vcastle-under-Lyiio . baker and confectioner — Thomas Jobsox , AVesc Hartlcpool , Durharrt . ' shipowner -f- William Roberts Coole . Groat Jiridgo , Staffordshi .-e . grocer — Thomas Bvrnaud , Charl «) tto street , Fitzroy-square , bookseller , SCOTCK SKQUKSTllATIONS .-D . Tubnisb , Glas ? oW . spirit dealer-D . and M . Mokko , Inverary , boat-buildeis and flshermen .
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Leader (1850-1860), Sept. 4, 1858, page 916, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2258/page/28/
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