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STo. 441, September 4, 1858.] THE LEADER...
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RAILWAY INTELLIGENCE. The railway market...
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JOINT-STOCK COMPANIES. Gknek.m. Stkam Na...
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JOSEPH TItAVEKS AND SONS' WEEKLY circula...
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JAVA. Ocr relations with Java are not un...
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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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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Colonial And Foreign Produce Markets. Be...
Befixed ;—Pieces at 46 s . to 4 . 7 s . per cwt . have been in steady request , but dried goods generally . remain out of demand . Brown lumps are quoted 53 s . per cwt . Melado . —The parcels brought to public sale were all bought in ; 10 s . 4 d . duty at 24 s . to 25 s ., and 12 s . 8 d . duty at 31 s . to 3 Gs . per cwt . Molasses . —The demand is active and prices > rather higher ; 1500 casks Cuba sold privately , the terms not allowed to transpire ; 300 pns . West India , good and very fine Antigua , 17 s . to 18 s ., St . Vincent ' s , 16 s . Gd ., Grenada , 16 s ., ordinary Trinidad , 14 s . Gd . per cwt . ; 10 . 0 cks . Cossepore treacle , lying at Liverpool , sold for export at 16 s ; per cwt . Cocoa is firm in value with a more frequent inquiry . Guayaquil has sold in limited quantity at 503 . ; and small lots Grenada in auction at 46 s . to 49 s . for middling red ; and Trinidad at 53 s . to 57 s .
¦ Rum has been purchased somewhat largely at firm prices . Jamaica , 4 s . 8 d . to 4 s . 10 d . ; extra fine , 5 s . 6 d . ; Demerara , 2 s . Id . ; and Leeward Island , Is . 8 d . to Is . Oil . per gallon proof . The clearances have been much in excess of that at the corresponding period . last year , but the stock has nevertheless increased . Sago is slightly easier in price , 500 boxes fine small grain sold at lGs . Gd ., with occasional lots at 17 s . ; and 750 bags sago flour at 15 s . 3 d . per cwt .
Saltpetre . '—A good demand prevails , and prices on the spot are firm , -whilst for arrival rather higher terms have been exacted . About 3000 bags have sold at 42 s . Gd . for 8 £ and 9 per cent ., to 44 s . for 7 and G per cent ., besides 100 tons to arrive , at 42 s ., with the usual guarantee . The deliveries , continue to average 280 tons a week , and as there are but 2000 tons at present on the way , a continued diminution of stock is anticipated . The French' Government contract for 22 < J 0 tons has keen taken at a price equivalent to 45 s ., for 5 per cent .
. Fruit . —Several , cargoes of Valencia raisins of this season ' s growth have arrived , and are freely offered at 44 s . per cwt . Advices respecting the currant crops are still favourable . Indigo . — Small sales of East India continue to be made at extreme rates . ¦ Saffloweb . —70 brls . realised 5 / . los . to 11 . iOs . for good mid . to good pinky , being barely late rates . Cochineal is in steady current demand at full prices for all food' qualities . 745 bgs . part sold . Honduras silvers , ' 3 s . Id . to 4 s . ; Teneriffe , 3 s . 8 d . to 3 d . lid . ; Honduras black , is . 2 d . to 5 s . ; and Teneriffe , 4 s . to 4 s . 3 d . per 1 b .
Cotton . — -The home-trade ... continue their purchases steadily at Liverpool , and prices are tolerably well sustained , but the continued restriction of speculative operations gives the market an inanimate tone . . American advices respecting the new crop are somewhat con-, dieting , and exercise no apparent influence on our markets . The small stocks in London render holders firm in their demands , but a good business has been done nevertheless . IIkmt . —St . Petersburg clean hemp has advanced to 30 / . ; . Manilla , sells steadily ot 26 / . 10 s . to 27 / . for fair roping . Jute still finds ready buyers at fall prices , both on the spot and to arrive . Coir goods have been on rather large supply , but the demand has been adequate , and quotations steadily maintained .
Oil . — A large business has been done in cocoa-nut at 3 Gs . Gd . to 37 s . for ^ Ceylon , and 38 s . to 39 s . for Cochin ; palm is in request , and fine Lagos hold at 39 s ., and linseed and rnpeseed unaltered ; sperm rather easier and quoted at 88 / , to 89 / . Olive remains out of demand . OiLSisiai > s . —Linseed , in the absence of arrivals , is rather more saleable , but not at higher prices , Raposeed has still , a drooping tendency . Tallow . - ^ - Sales for delivery during this month being considered larger than the present stock and expected supplies would warrant , holders have enhanced their terras , and for Y . C . 51 s . Gd . is required either on the
spot or for delivery during the month . Later periods are not so much influenced , and purchases may bo made for tho last three months at 50 s . per cwt . The $ rado doiwand continues very satisfactory , aiiil ; i sorts' * in public sale roalised higher prices ; South American , 50 s . Gd . to 51 s . ; good to fine Taganrog , 50 s . Gd . to 51 s . Cd . ; house tallow held for 50 s . Gd . to 51 s . net . To-day an arrival of 1200 cks . caused a reaction , and quotations declined to 51 a . on tho spot , and 49 s . 3 d . last tUreo months' delivery . Market ) lottor town tallow , 53 s . Gd . 5 rough fat , 2 s . 9 £ d . ; molted Btuff , 80 s . Gd . ; fat by ditto , 21 s .
TuitrisNTiNE . —Largo parcels of orudo are in course oE arrival , and tho week's salos aro only 100 barrels at •> s , Od . American spirits in barrels aro moro saleable at o 7 a . to 87 s . Gd . per owt . on f »«»» Pn ^ !^ i ^ g ^ £ ^ gB < yj ifl . toffWMM ^ -JwUaa . , on-inauufaotUT ^ TTnrair Tirijef lb . on unmanufactured descriptions . Load and tin remain in limited demand p to Ti at 0 S , ' Sl ) 0 ltw haa fta advancing tendency , sales of W . H . plates made at 2 < tf , for Sept ? delivery ? common pinto 28 J . Ida ., and there aro now few sellers at those prices . Present stook 4409 tons , against 4102 tons last year . Scotch pig iron has declined to 54 / . 9 s . ; fiv ° in «\ mw g 0 W n ?' . 0 tons ' ftGftlnati which warrants lor 108 , 000 toua are In circulation .
Sto. 441, September 4, 1858.] The Leader...
STo . 441 , September 4 , 1858 . ] THE LEADER , 915
Railway Intelligence. The Railway Market...
RAILWAY INTELLIGENCE . The railway market has not been very brisk , but a sensible effect lias been produced on the prices of several of the leading lines by sales which have been pressed . The London and North-Western- has felt this pressure about as inconveniently as any of the railway companies ; itsshares have been dealt in at 88 , but any holder who parts with his stock at this figure will be wilfully sacrificing his property . We know , however , from past experience , how futile it is to venture upon predictions as to the future . The peculiar system of business of the Stock Exchange is one invincible obstacle against arriving at anything like a settled opinion as to what range prices will take in a specific period . The value of shares and
their market price are by no means synonymous terms Let that be the consolation of timid , holders , and their justification for refusing to be frightened out of their holdings . There is a good deal of anxiety felt by shareholders in the Indian railways and projects at the unaccountable tendency of the market to droop . The prices in several instances are lower , premiums are disappearing , and shares are sent into the market in small parcels . We do not participate in the fears of holders ; we believe that the change from Leadenhall-street government to Imperial government will benefit rather than prejudice these securities , and we know of no other reason than that of recent change which should affect the market for Indian railway shares .
Railway and Canal Companies . —From a Parliamentary return under this head , it appears that the total amount of share capital of railway and canal companies in the L nited Kingdom , paid up . on the 31 st D ecember , 185 J ,. was as follows : —England—Railways , 187 , 973 , 117 / .: canals , 13 , 053 , 096 / . Scotland—Railways , 25 , 203 , 5 * 3 / . ; canals , 47 , 329 / . Ireland—Railways , 12 , 023 , 356 / . ; canals , 07-1 , 899 / . Total for the United Kingdom- —Railways , 225 ^ 805 , 058 / . ; canals , 13 , 775 , 924 / . The total amount of parochial rates and taxes , and of passenger duty paid by the railway companies in England , Scotland , and Ireland , during the year 1857 , was 826 * 038 / .. . 16 s , 10 d . ; the total amount paid by canal companies within the same period was 38 , 8507 . 11 s . S ' d .
The Construction of Railways in India .- —The report of the select committee . appointed to inquire into the causes -Which have led to delay in the construction of railways in India , is printed . The delays are classified by the committee . under four distinct heads—1 . Delays arising from Government supervision at home and India . 2 .. Delays incidental to the execution of extensions and complicated public works under novel circumstances in a distant country . 3 . Delays produced by political causes , such as insurrection and mutiny . 4 . Delays arising from the natural difficulties which the
face of the country presents . The committee say : r" Your committee are of opinion , first , that . the Government has acted wisely in committing to private enterprise the execution of these great public works ; secondly , that a guaranteed interest on the requisite capital was indispensable to induce the public to invest their money , in undertakings of this magnitude and novelty ; and thirdly , that , in order to protect the Iudian ¦ revenue _ from , undue expenditure , Government control over tho railway operations is requisite , and even valuable , to the interests of the shareholders themselves . At tho same time youv
committee would observe that , under a system complicated in its character , and necessarily somewhat cumbrous in its machinery , a system , moreover , the greatest defect of which is tho . facility it affords for the , evasion of responsibility , a clear and distinct definition of tho duties , responsibilities , and extent of jurisdiction of all heads of departments , and those under them , is essentially requisite for its smooth and successful working ; always assuming that duo care bo taken to entrust discretionary power only to men who aro to ho relied on as competent to distinguish an effective general control from too minute an interference in details .
Joint-Stock Companies. Gknek.M. Stkam Na...
JOINT-STOCK COMPANIES . Gknek . m . Stkam Navigation ; Company . —Tho G 7 th half-yonrly mooting of tho shareholders of this company was hold on Tuesday , Mr . John Wilkiu hi tho chair , Tlio report of the directors and a statement of tho accounts for tho half-year ending tho 80 th Juno last woro vend to tho mooting , and unanimously adopted . Tho usual dividend at tho rate of 10 nor cent , por annum was declared . Railway Passexukhs' Ashuuancb Company , —Tho Railway Fassougora' Assurance Company , hold their 4 ialfi ^ arJy ^ nooting ^ on ~ Wodnijstlai ) vaud--tt- « diviclend-t » t tho rato of -1 por oout . pur annum was declared . Tho directors' roport was agreed to . It is somewhat surprising , considering tho groat number of railway accidents that tho travelling public do not mako it a rule to tak ' o a Railway Passengers' Assurance ticket with their faro ticket . Niow . Sukew Coluku Company . —Tho Iron Screw Collier Company hold its mooting on Wednesday , Sir J . Easthopo in tho chair . Since the last meeting , when it
was resolved to wind up , attempts have been made , without success , to sell the ships belonging to the concern . The directors have also been , unable to realise bonds of the Surrey Gas Company held to the amount of 10 , 00 . 01 ., as , although a perfect security in themselves , they are at present unmarketable . The profits of the past year were only G 52 / ., subject to disputed debts amounting to 12 , 957 / . During the . same period two ships have been lost , and claims , believed to be unfounded , for upwards of 1 O , OOO / . have been made , for collisions , which are now in course of investigation . Of the 12 , 957 / ., one debtor for more than half of the whole sum has been declared insolvent , and it is feared the others will not pay until compelled to do so by legal proceedings . .
Joseph Titaveks And Sons' Weekly Circula...
JOSEPH TItAVEKS AND SONS' WEEKLY circular . 19 , St . Swithin ' s-lane . Tka . —The market shows no material change ; common Congou has been sold at lOd . to lOid ., thus recovering its position . . Coffee . —The Dutch Trading Company ' s sales of 701 , 000 bags of Java took place on the 1 st instant , the whole selling from 3 s . to 4 s . over the valuation . Since then our market has been somewhat excited , and transactions to a considerable extent have been effected at an advance for Plantation Ceylon of fully Is . Native Ceylon— -an active demand exists for this description for export , good ordinary to fine selling freely at from 48 s . to 53 s . Costa Rica and Mocha are unaltered . Scgar . —Raw ' : We-can report no alteration in this market . Refined : this market has been steady during the week , and towards the close more business was done , but our quotations remain unaltered . Pieces still scarce , and at extreme rates . Bastards are in good supply . Fruit . —Three cargoes of Valencias have arrived since our last ; quality generally very good . At present there is no alteration in price ( for present delivery ) , and we do not expect to see them lower until arrivals by sailing-vessel commence . This cannot ,, however , take place for ten days or a fortnight at least . The demand is good , and we have no doubt that , with such quality of Fruit , a good trade will be done . Not much is doing 1 in old "Valencias , which we think worth notice at our present quotations . Curraxts . —We have no alteration to notice in our market for old Fruit . We have just received some larger samples _ of new Currants , by which we can form a better opinion of the quality . Spices . — -In this market there is no change to notice , and a general want of activity has prevailed during the week . . Rice . —The transactions in Cleaned have been small , with little variation , A parcel of American dressed Carolina was sold } r esterday at firm prices .
Java. Ocr Relations With Java Are Not Un...
JAVA . Ocr relations with Java are not unlikely in a very short period to become commercially important . Little that is reliable is at present known about this country—its social polity and the morale of the natives . And it would be rendering a very acceptable service were some one personally conversant with these matters to afford that amount of information necessary to enable merchants and manufacturers to direct their commercial attention to this unexplored quarter . We have received a letter from a resident in Java , and we hasten to publish the following extract , which will not be found without its value : —> " Java is a most prosperous colony . Last year the nett returns paid off tho greatest part of tho interest of tho Dutch National Debt . The peoplo are very well satisfied , and a spirit of contentment prevails in the whole island . The Government aro very strict : in police and political matters—tho lash and banishment aro the basis—otherwise they aro most just in all their dealings with tho natives , and they never propose anything without tho concurronco of tho natives themselves . Their European servants aro ofton sacrificed when anything occurs disagreeable to the native chiefs , who rule jointly with tho Dutch civilians , some holding life situations . In roligious matters they aro quito tolerant : every one is allowed to worship his god as he thinks proper , and every rospect is paid to their prejudices and customs . No fanatfofl aro alloyro ^ fro run yv . ild and-cauflO-dlsflrjaoE' by proclaiming ft faith now to tho natives , and for which they aro not sufficiently ripe or prepared to give up their own j but they know perfectly well what is right and wrong , and to this they aro strictly kept . People in England have such strange ideas about converting whole / nations , littlo knowing how vory ofton tho religion of a nation is formod by tho cliimUo thoy Hvo in and tho various other associations bolwtfioff to it . "
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Citation
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Leader (1850-1860), Sept. 4, 1858, page 27, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/cld_04091858/page/27/
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