On this page
-
Text (3)
-
1364 THE LEADER. [jS"o. 455, Decembjbb I...
-
HOME, COLONIAL, & FOREIGN PRODUCE MARKET...
-
MONEY MARKET AND STOPiT EXCHANGE. ^ ruE ...
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.
-
-
Transcript
-
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.
1364 The Leader. [Js"O. 455, Decembjbb I...
1364 THE LEADER . [ jS " o . 455 , Decembjbb II . irR q
Home, Colonial, & Foreign Produce Market...
HOME , COLONIAL , & FOREIGN PRODUCE MARKETS . REVIEW OF THE WEEK . Mincing Lane , Friday Evening . Trade in general continues quiet , and of the recent heavy arrivals only small instalments have as yet been brought forward . On one or two minor articles-these increased supplies have led to a considerable decline in prices , but the more important staples have , in nearly all cases , sustained prices steadily , whilst some few have even obtained an advance . Corn . —The trade continues in a dull state generally . Most of the provincial letters to hand this week report some depression in quotations . This is , however , attributable in a measure to the indifferent condition of the samples in consequence of the weather . At Marklane , the import supplies of nearly every description of grain have been moderate , but they were more than sufficient for the demand , and prices generally had a downward tendency . English wheat declined Is . to 2 s . per qr ., and sales progressed slowly . The few samples of very choice old qualities could hardly be quoted lower , Midhams being held at 50 s . ; fair to prime new samples 45 s . to 48 s . ; damp , 42 s . to 44 s . ; prime heavy
, red , 43 s . to 44 s . ; runs , 40 s . to 42 s . ; common soft , 38 s . to 39 s . Foreign wheat was not pressed , and prices were nominally unaltered , but the dealings were quite of a retail character ; fine high mixed Dantzic made 54 s . to 55 s . ; mixed , 50 s . to 52 s . ; Brabant and Lorraine , white , 45 s ., to 46 s . ; red , 43 s . to 45 s . ; French , 42 s . to 44 s , ; St . Petersburg , 4 Is . to 42 s . The flour trade is inactive , but former prices are realised for most descriptions . Town made brings 40 s . ; town households , 34 s . ; country households , 32 s . to 33 s . ; whites , 34 s . ; prime seconds , 30 s . ; Norfolks , 27 s . to 28 s . French has met a steady sale at 34 s . to 35 s . for good , and 36 s . to 37 s . for extras American is still firmly
held although the supplies are somewhat better . The arrivals of flour by Eastern . Counties were 11 , 375 sacks , against 9862 sacks delivered . The arrivals of English barley have somewhat increased , and medium qualities are purchasable upon easier terms , but choice malting descriptions are held for late rates . Malt in general hangs on hand , although rather less money would , perhaps , be accepted for quantity * Choice new ware is quoted 68 s . ; inferior to good , 60 s . to 65 s . The arrivals by Eastern Counties Bail have been 11 , 375 qrs . against a delivery of 9862 . qrs . In consequence of rather liberal tanportB of beans , prices have given way Is . to 2 s ., and sales have been difficult at the decline . Peas were
also the turn of the market in the buyer ' s favour , from a shnilar cause . Oats have again been in liberal supply , and quotations lowered by 6 d . to Is . per cwt . In floating cargoes off the coast a large business has been- done ; Odessa Ghirka wheat at 39 s- to 40 s . ; Marianople , 43 s . 3 d . to 45 s . 6 d .: Odessa maize , 27 s . to 27 s . 3 d . ; Galatz , 27 s . to 27 s . Cd . ; Ibrail , 24 s . to 26 s . ; cost , freight , and insurance . CORN ARRIVALS . English . Irish . Foreign . Wheat qrs . 8552 — 30027 Barley 4260 — 27699 Malt „ 14 , 173 — — Oats „ 11 , 155 — 34 , 069 Rye „ 172 — 2200 Beans ... „ 1055 — 9149 Peas „ 471 — 2114 LONDON AVERAGES . Qrs . s . d . Wheat 2821 at 48 8 Barley . 3057 „ 47 9 Oats 1799 „ 25 1 Beans 168 „ 38 9 Peaa 141 „ 46 7 Seeds . —The import of linseed since our Itutia 16 , 400 qrs ., consisting of 4500 qrs . from the East Indies , 8300 qrs . Taganrog , and 2600 qrs . Odessa ; Bombay on the spot sells at 55 sM and Calcutta at 52 s . to 58 s , ; as to quality , considerable Bales of the latter description have been made at 51 s . 6 d . cost , freight and insurance , including bags ; and a cargo Taganrog floating , has been sold at 62 s . delivered U . K . Our gross importation up to this time is 287 , 100 qr » ,, against 206 , 950 qra . at the corresponding period last year . Rape and oil seeds have still an upward tendency ; fine sound Calcutta rape commands 54 s . per qr . ; fine Bombay Quzorat , 68 s . Od , to 64 a . ; Ferozeporo and Scinde , 46 b . to 57 s . as to quality ; Tecl or Sesame 61 s . to 54 s . for black , and 55 s . to 59 s . for white ; Poppy , 62 b ., and Niger , 88 s . Linseed cakea remain without alteration in price ; they are however decidedly not flatter , and with , a little frosty weather wo should doubtless have some improvement . Oils , —Linseed oil has become exceedingly scarce , and present oil is of ready sale at 29 / . 16 s . to 80 / . per ton . Some luBinesB has beon done for delivery in the early months of noxt yonr at 29 f , 10 s ., but 3 Qf . la the value January to June . Rape and eoed oils arc in good demand , foreign refined rope sells nt 171 . per ton , and brown
at 43 / . ; English brown 4 li-10 s . ; Bombay groundnut or Gingelly has advanced to 34 / . 10 s ., and Madras to 39 i The recent advance in olive oils has been so rapid and considerable as to check business ; advices from the producing countries , however , induce holders to be firm ; Gallipoli may be quoted 50 / . 10 s . to 51 / ., Tarento 49 i , Corfu 48 / . 10 s . down to 46 / . 10 s . per tun for Mogadore . Cocoa-nut oil is of slow sale ; Ceylon 3 . 8 / ., and Cochin 39 / . 10 s . to 41 / . per tun as to quality . Palm oil has become more plentiful , and fine Lagos is not saleable over 41 / . per tun . Sperm has further advanced 4 / . to 51 . per tun , there are now buyers at 90 / . per tun , and at 96 L for Headmatter . Common fish oils are quite neglected : pale seal , 36 / . 10 s . ; pale southern , 34 / . : cod , 31 / . , Whale-fins . —The stock in hand being held beyond rates obtainablewe have no transactions to notice .
, TuuPENTLNE . —Arrivals of rough are not much short of 6000 barrels ; no sales have taken place , 10 s . the nearest -value . Spirits dull . American 39 s . including , and L ' nplish 38 s . without , casks . Live Stock . — Trade lias been better throughout the week , and both beast and sheep have made 2 d . to 4 d . per stone advance ; calves realised full prices . Pigs were not in demand , hikI lower by 4 d . per stone . The following were the numbers at market and current prices : — Mospav . Beast . Sheep . Calves . Pigs . 4 , 150 1 C . S 00 108 350 Ss . 6 d . to 5 s . Od . 3 s . 6 cL to 5 s- Od . 3 s . 6 d . to -is . Sd . 2 s . Sd . to 3 s . Sd . TllUKSDAV . . ' " 1 , 090 4 30 O 176 150 3 s . 6 d . to 5 s . 0 d . Ss . 8 d . tO 5 s . 0 d . 3 s 8 d . to 4 s . 10 d . 2 s . Sd . to 3 s . l 0 d .
Pkovisions . —At Newgate and Leadenhall the supplies of meat are large , but the quality seasonably better and prices higher , alth ough a dull trade is still complained of . Beef 2 s . Sd . to 4 s . 4 d . ; mutton 2 s . 10 d . to 4 s . 6 d . ; veal 3 s . Sd . to 4 s . 4 d ; pork 3 s . 6 d . to 4 s . 8 d . per 8 lb ., by the carcase . Fresh butters are dull of sale at late rates ; fine foreign advanced to 110 s . to 112 s . Cured meats sell slowly . Waterford sides of bacon at 49 s . per c % vt . Navy " beef and pork met very little inquiry . _ ¦ . .
Scgar . —The market is still dull , as buyers await the coming forward of late arrivals . Prices arc not much altered , but incline in the buyer's favour . The crop accounts from Havannah and Louisiana are very favourable , but it is expected that the yield of beetroot will be short . The principal operations of the week are confined to 1350 cks . West India , 8000 bgs . Bengal , 1000 hds . Cuba , 3000 bgs . Madras , and a floating cargo of 5400 bgs . brown Paraiba , at 23 s- for a near port , insurance free , of particular average . The present stock of coffee in Europe is 99 , 100 tons , against 115 , 300 Inat
year . CoFFEE .-r-There has been an almost entire absence of business , but better supplies are declared for sale in the ensuing week . Meanwhile the tone of the market is firm . The stock hero will be to some extent replenished by the late arrivals . The total stock in Europe is 42 , 820 tons against 82 , 400 last year . Tea . —The market is firm and prices are again higher by Jd . to Id . per lb . Large public sales comprising 33 , 400 pkgs ., went with considerable animation , and 15 , 100 pkgs . were disposed of at the above advance . Common is firm at lid . per lb . Stock in the kingdom is 64 , 289 , 000 lbs . against 71 , 204 , 000 lbs . Rice . —The dealings are limited to 12 , 000 bgs ., principally low soft grain , at full prices . Sago is la . per cwt . cheaper in consequence of late arrivals .
Cassia Lignea has declined 10 s . per cwt ., a portion of the 4000 cwt- per Hindoo having opened at 97 s . to 103 a . for piles I and 2 , but subsequently dropped to 80 s . to 97 s . for the respective piles . Other ppices not much altered . Fruit . —Fine qualities of both currants and raisins command full prices , but parcels . out of condition have sold largely on lower terms . Saltpetre . — -The trade are not disposed to buy in the face of increased supplies , and prices are weak . Two contracts are advertised for continental Governments .
The total required is about 600 tons . Dye-stuffs have undergone no quotable change . Shellac is Is . to 2 s . dearer for ordinary D C orange . Camphor has declined to 60 s . Cd . to 61 s . 6 d . Metal . —English tin was on Monday advanced to 124 / . fbr bar , 128 / . for block , and 180 / . for refined . Foreign had also risen in value , Banca making 127 i , and . Straits 128 / . 10 s , to 124 / . Spolter has dropped to 22 / ., at which there are strong buyers . Copper in demand ; beat selected sold at 108 / . ; Burrn nt 110 / . ; Scotch pig iron is firmer nt 64 s , to 64 s . 6 d . for mixed numbers .
Cotton . —The trade is heavy . Prices at Liverpool are Is . 6 d . to Is . 8 d , lower . In London the business is quite unimportant , but holders are firm . Silk is generally well held and in steady demand , with an upward tendency in China descriptions . Tallo-ny . —Tuo market lias been steady without any particular features , and closed to-day firm at 6 ls . on the spot , 50 b . i ) d . all the month and spring delivery , and 51 s . Od . for March only . Homo tallow has not been altered in the oflloial letter this afternoon .
Money Market And Stopit Exchange. ^ Rue ...
MONEY MARKET AND STOPiT EXCHANGE . ^ ruE redaction of the rate of discount by the Bank yesterday took the public by surprise . By a-partv it had been for a long period demanded in vain an J the hope that it would be conceded was entirely S iven up when it came . Several persons , not ex pecting it , had given a higher rate than it for money and were chagrined at their error . Other banks soon afterwards reduced their rates , and moner is now taken on call at 1 £ per cent for large sums and 1 per cent , for small sums Many persons are of opinion that the reduction
now is , premature , and they believe that the Bank will have to raise the ^ -ale a ? ain ere Ion * - We do not share in this opinion ; we see that fae stock of money in the Bank is very large , we arc well assured , too , that it continues large Vail the banks , and that masses of money are lyiii" - idle for which employment is sought m vain , \\ % sec no sign of active speculation being revived ; on the contrary , business is everywhere conducted \ vith great caution , and the rate of discount seems more likely to fall still lower than return to its late level . fill some very low rate shall stimulate enterprise money will remain redundant .
The alteration had a favourable effect on all securities . Consols left oil" yesterday at 97 £ , being a rise of a good I per-cent . All other securities , especially- railway shares , and East India Debentures and East India guaranteed railway shares , improved , and at the close yesterday there -was more activity than has been witnessed for some lime . To day at the opening the market was firm and prices again advanced , but 'towards the close a reaction set in . The price of the French funds came lower , and to the general surprise the funds
closed to-day at about the same prices as yesterday . Hailways , however , retained their advance , as some of the'North British were in demand . Money is finding its way into East Indian Debentures aud other Kast Indian securities , and in . them it is well known that the Bank of England has made considerable investments . They yield , with security supposed to be equal , n higher nvto uf interest tliuu Consols . It inav , however , be expected , as the rate
for money falls or keeps low , that securities of all kinds will rise in value . Kail way shares are expected to improve still further . The returns of the Bank of France for Novcmher , which arrived to-day , arc favourable . The bullion has increased above l , 00 U , < lUG 7 ., aud the advances to commerce by the Bank have decreased . The advances on railway securities , have increased . Probably the substance of this return was kuowii to our Bank Directors yesterday , and influenced
their decision . . . ,, In the course of the week the affairs of the notorious bankrupts Davidson aud Gordon were again under investigation in the Bankruptcy tourr , and Mr . Chapman , lately u partner nil ho house ot Overend , Gurney , and Co ., underwent aj long «• amiuation concerning the connexion of this « ° ^ with the bankrupts and Mr . W . mllc Co f . » J cannot be reminded of these incidents witloue marking that the condition of trade which . thu m vestigation made apparent as existing in 18 ^ . m 1 RRa nfl « ounta for man y of the iMiciiltica t now
labours under , and is likely to ubour some time . The moral character of a etass or nation can neither be . founded nor dos trojcd ^ day . When the examination o Air . C I ''* " Jg been completed we may again advert toto suoj An application most powerfully backed has uw made by the Atlantic Wgraph Compnny f «¦ guarantee of *} I ™ « " >*• » l h ? n < T ' Slier company proposes to employ iulny" » g ao ^ ii a » cable between Ireland and N c nv found land No J ^ noblo or moro arduous enterprise was cvw taken—none which reflects more l 01 ^ , ° V science which discovered the princip le oi i » ^ graph and Iho art which carries it »» l 0 NflTcr . None better deserves Government BlipnoiB | ^ tholcsa , as wo do not know where to < u w ¦» 0 . and are on principle averse from Wo ^ nmcny ^ moting diffbAmt . undertakings , . wo C ' ' . 'lt ( obo notice the application , also miy that it oug « .
complied with . , „ ' nnv ; iil »' Oil the Continent the sup ply of Ilouoy dunt . At Puria the rate is j per com ., ftlUi burg , 2 j at Frankfort , A ; at Ambtcida . n , . >» , at liruesols , 3 per cent .
-
-
Citation
-
Leader (1850-1860), Dec. 11, 1858, page 28, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/cld_11121858/page/28/
-