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MONEY MARKET AND STOCK EXCHANGE.. CITY, ...
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THE LEADEB. J[I^. 441, September 4, 1858...
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Copper Market.-^-Messrs. Trueman and Fry...
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BANK OF ENGLAND. An Account, pursuant to...
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FROM THE LONDON GAZETTtf. " ' ¦ " ""' Tt...
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Friday. Septembers. B WKRUPTS.—Thomas 3....
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BOOKS RECEIVED THIS ..WEEK. Etta: an Aut...
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Chess.—Oil Friday, the 27th, Mr. Morphy ...
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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Transcript
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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.
Additionally, when viewing full transcripts, extracted text may not be in the same order as the original document.
Money Market And Stock Exchange.. City, ...
MONEY MARKET AND STOCK EXCHANGE . . 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 tins 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 unproductive capital . If gold is in the Bank vaults , banknotes are doing its duty in every department of cominerce and manufactures—in this respect , therefore , no anxiety need be felt . This , country , it must be recollected , 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 . " We mlist 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 pur 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 cun 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 the assistance of dealers . The premium was not a legitimate premium , it was , its we ore advised , partly made up by arrangement with certain firms deeply interested in the loan . That the public have no faith in the security is clearly evidenced by the fact that the premium has nil but disappeared , and , , that , the , mos ) t , strenuous . exerjfcipns , are being , made , tp , prevent the price going below par . Nothing can more strongly indioato the necessity of character , and political and financial stability in . nations , ' when they require loans from this country , than the reception of this loan . With a guarantee of 6 per 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 per cent . But moneyed men doubt , and not unreasonably , the position of Turkey ; they distrust her financial solvency , and they do not credit all the fine things in her favour that have appeared in the columns of certain Stock Exchange daily organs . Our own opinion is , that the now Turkish Loan is very dangerous a took . It may flj jrjni .. jHMy , q fll jyjjpftfc ppd | hen tlyo . Y " ^ " * ! , . K $ .. ft V ? n inado their' rnarko'f . It may take rank eventually among the scores of foreign loans which will never repay this country n shilling interest or principal , and then the holders will hnvo no one to blame but themselves . Yesterday came into operation tho official notification recently issued' by the JPoat-ofllco authorities , by which it is made compulsory to prepay the 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 .
The Peninsular and Oriental Steam Navigation Company will not despatch a steamer from Southampton lor Bombay on the Uth . 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 . Alter a long series of consider-ants 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 on sulphur . _ On the Paris Bourse during the month a sustained and considerable rise has at length been witnessed , I he 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 U , took place ; the liabilities arc 81 . 077 / ., and the assets only 33 S 17 ., showing a deficiency of 77 , <> 9 GJ . The affairs of Mr . J . Carmichael 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 bankruptcy of Messrs . Ayres 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 hppecl . 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 .
The Leadeb. J[I^. 441, September 4, 1858...
THE LEADEB . J [ I ^ . 441 , September 4 , 1858 ^
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Copper Market.-^-Messrs. Trueman And Fry...
Copper Market .- ^ -Messrs . Trueman and Fry state that Copper has this day fallen £ cL per ton ; Manufactured , ll £ d , ; Tough Cake and Tile , 1027 . 10 s .
Bank Of England. An Account, Pursuant To...
BANK OF ENGLAND . An Account , pursuant to tho Act 7 th and 8 fch Viccoria , cap . 32 , for the week ending on Wednesday , tho 1 st day of September , 1 S 5 S . ISSUE DEPARTMENT . £ i £ Notes issuod „ .. 31 , 538 , 850 , Government debt .. 1 I , O 15 , JOO ; Othor securities ... 3 , 450 , 1 ) 00 I Gold coin and bul-| lion 17 , 003 , 850 i Silver bullion . € 31 , 5 ! J 3 . 8 fiO ! . £ 31 , 533 , 850 BANKING DErAUTMENT . A . i ¦ £ . Proprietors ' onpital lt , 553 , 000 I G ! o 7 ornmcufc sccu-Itosl 3 , UtiO , 072 rities ( incluuiug . Pubjiio deposits ( hir , . ... . . pead Wcig . htAu- ,. , „ „ , cludliiR Ekehc- nuity ) ,. ... 10 , 012 , 281 quor , Ooitnni » sion- Othor Securities . lM 53 , ;) 2 't era of Nntlonal Notoa 11 , 230 , 030 Debt , Savings' Gold and Silver Banks , and ' Divi- Coin 733 , 310 dond Accounts ) .. D , fl 27 , B 55 OCliordeposits .... 13 , 071 , 7 a 8 Sovon Day <& other Bills 700 , 100 £ 38 , 330 , 091 I A * 38 ^ J 36 , 08 l » I . MARSHALL , Chief Cashier . Dated tho 2 nd day of Soptombcr , 1808 .
From The London Gazetttf. " ' ¦ " ""' Tt...
FROM THE LONDON GAZETTtf . " ' ¦ " ""' TttffSHci ' if ' f ' Ail ' OltSt ' iSl ! . ' ¦ """" BANKRUPTS . — Edwaud Joh . v Cook , Suffolk , wlno merchant —Gbokgb Rosk Uikohur , Stall ' ordahlro , inu » - kooncr—TnoMAS Pawson , JJlrnilngham , priutor—Eowakd BnERETON Baldwin-, Btn'fTorduhlro , anddlor—John Mauin and RroiiARD M ' unsTjrcn , NottliiKhmnbhlro , common brewora ~ WiiMAat Nicholab Johns , Monmouth » hlro , Btdtlloner--Ayij . tiA ! M AnNojf , L Bailey , Devonshire , spirit morphant—Henky EAnNaiiAW , Yorkshire corn miller—Wili-jam ; Pahsonaohi , Liverpool ! nuotioiioor — Josbimi RoiifiUTB , Llvcl'pool , ironmonger . SCOTCH SEQUESTRATIONS .- J . nndT . Steven , Burnbanjt , coal « na 8 tors—J . Albxanpeb , Glasgow , i > lumbor—J . M'Kewzid , Edinburgh , otvthis * houeo keeper .
Friday. Septembers. B Wkrupts.—Thomas 3....
Friday . Septembers . B WKRUPTS . —Thomas 3 . Taylor , Stoke Newingtonroad Middlesex . K rocer-FillNEAS HiLD , Bolton . contractor -JoVatuT ^ Marshall . Tadcastcr , Yorkshire Rrpcer-EmUKD Cattkuss , Coventry , hatter-George White , B ^ mimiliaiu , grocer-Abraham DavibLewks , North Shields , wine tueroliantf-Joseph NVRiQHT . ^ oventry , watch n auufact . acr-Richard Smith llcix * Ncwcastle-under-EVTio baker ™ id confectioner - Thomas Jobso-v , AVesc Martlcpool , Durham . ' shipowner ^ William Roberts Coole , Groat Bridge , Staffordshire , grocer — Thomas B vrnard , Charl «) ttc street , Fitzroy-square . bookseller , SCOTCK SKQUKSTllATIONS .-D . TtTimnB , Glassow . spirit dealer-D . and 31 . Mokko , Inverary , boat-builders and fishermen . ¦ ¦¦
Books Received This ..Week. Etta: An Aut...
BOOKS RECEIVED THIS .. WEEK . Etta : an Autobiography . 2 vols . post 8 vo . R . Bentley . Six Montlis in British Burm-. th . By T . C . Winter . Post Svo . R . Bcritley . Service and Adventure with the Khakee Ressalah . By R . H . W . Dunlop . R . Bentley . Mi / Escape from the Mutinies in OiuUi . Fcap . 8 vo . II . Bentley . , ' Fiire Years of It . By Alfred Austen . 2 vols . post Svo . J . F . Hope . ¦ . Literature of American Abortqinal Languages . Uy Hennann-E . Ludgwig . Edited by N . Triibner . Svo . Triibncr and Co . Tales from Blackwood . Vol . II . Fcap . 8 vo . W . Blaekwood and Suns . ^ 77 ie ¦ ' ¦ '" Orlando Furioso" Translated into English \ ers ^ by W . Stewart Hose . Vol . IE . Small 8 vo . { Bonn ' s . . Illustrated Library . ) Lord King ' s Life of Locke . Small 8 vo . ( Bohu a Standard Library . ) ¦¦ . r China— -The Times Correspondence . By G . VY mgrove Cooke . Fcap . Svo . Routlodge and Co . Law andLaicyers . By Archer Poison . 18 mo . Routledge and Co . History of the Ancient Sects . By the Rev . Duncan M'Callum . 12 mo . J . Menzics , Curiosities of Literature . By Isaac Disraeli . A nev edition , with Memoir by the Right Hon . B . Disraeli . Vol . I . Fcap . 8 vo . Routledgc and Co .
Chess.—Oil Friday, The 27th, Mr. Morphy ...
Chess . —Oil Friday , the 27 th , Mr . Morphy played eight games bliudfold : His opponents were Lord" 1-yttclton ; Mr . Salmon , . the best player Ireland affords ; Mr . J . Kipping , junior , a very strong player ; Mr . Averv , president of the ¦ ¦ Birmingham' Club ; Mr . Cm r , secretary of the Leamington Club ; Dr . Freeman , Mr . Rhode . * , ami Mr . W . R . 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 a 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 tlio boards , and a movo 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 the same game , M r Morphy left a piece , en jtrise , the taking of whicli involved a mate in a few moves , nnd accordin ^ ly on his adversary taking the piece , unconscious of tlio snare laid for 'him , tlio giimo "became Mr , Morpliy ' s almost immediately . His play was very rapid . Each game lasted on the average about thirty moves , so that he had to bear in mind at least two hundred and forty moves , and tlio position of every board throughout from beginning to end . Of the eight simultaneous game ? , Mr . Morphy won six , drew one , and lost only one The eight games occupied about six hours . Tito mutch ' arranged between ' Messrs . Stuiintbn and Morphy sMmls thus : —Stake , 500 / . a side ; the scorer of tlio first cloven games wins ; to commenco on the 1 st of November next . Mr . Morpliy wna to proceed from llirininghain to Paris , to challenge Hcrr Hnrrwitz , ami probably afterwards to Breslau , to play Herr Andornson ; but it is expected that the latter match will bo plnycl in London . —Birmingham Journal . Bai > ti » m uy Suni'Hisii ! . —A correspondent from Rome writes as follows to the J Joints : — " I stated hojuo tinio ago that a Jewish child had boon taken away from its parents , at Bolognn , on the plea that it had been eccretly baptised by a servant . A bull of Benedict XIV . q N ; pr ^ slyl , far ^ | j ^ a * , |^ ffii bnMJHJjng ^ o f ^ J , ti . w , H iJll b yjffl rm' } J , *' copt when ( hoy are in imminent clangor of duiilh . 'in that case baptism may bo secretly administered , but tlio bishop must be immediately informed of the fuel ; and in the event of tlio paliont'a recovery , ho is then Hi ken from his parents to bo educated as a Christian . Tlila was the case in the present instance ; tlio father , finding it impossible to recover his child , solicited an audience of the l ' opo , who granted it without dlflianlty , and guw him permission to soo his eon , on condition that ho mIioukI notixold any convarnHtion with him ciilculntbd to reiuM his conversion ubortlvo . "
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Citation
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Leader (1850-1860), Sept. 4, 1858, page 28, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/cld_04091858/page/28/
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