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Leader (1850-1860), 11th December 1858, Edition 1 of 2, Page 1364, Untitled Article

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      Untitled Article

      REVIEW OF THE WEEK . Mincing Lane , Friday Evening . Trade in general continues quiet , and of the recent lieavy arrivals only small instalments have as yet been brought forward . On one or two minor articles tbese 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 .

      Cokh . —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 503 . ; 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 Daiitzic 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 . ; Si . 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 . ; Korfolks , 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 extra . American is still firmly

      at 43 / . ; English brown 41 * . 10 s . ; Bombay ground nut or Gingelly has advanced to 34 / . 10 s ., and Madras to 39 / . 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 ; Gallirtqli may be quoted 50 / . 10 s . to 51 / ., Tarento 49 £ , Corfu 48 / . 10 s . down to 40 / . 10 s . per tun for Mogadore . Cocoa-nut oil is of slow sale ; Ceylon 38 / ., 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 . Sperin , has further advanced 41 . to 51 . per- tun , there are now buyers at 90 / . per tun , and at 9 G . ' . for Headmatter . Common fish oils are quite neglected : pale seal , 36 / . 10 s . ; pale southern , 34 / . ; cod , 317 . "VyiiAr . E-FJXS . —The stock in hand being held beyond rates obtainable , we have no transactions to notice .

      TcRPEXTiXK . —Arrivals of rough are not much short of 8000 barrels ; no sales have taken place , 10 s . the nearest value . Spirits dull . American 3 i > s . including , and English 38 s . without , casks . Live Stock . — Trade has 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 , and lower by 4 d . per stone . The fallowing were the numbers at market and current prices : — Monday . Beast . Sheep . Calves . Pigs . 4 , 150 16 . S 00 108 350 3 s . 6 d . to 5 s . 0 d . 3 s . Gd . to 5 s . Od . 3 s . 6 d . to 4 s . 8 d . 2 s . Sd . to 3 s . 8 d . Thursday . 1 , 090 4300 176 150 8 s . 6 d . to 5 s . 0 d . 3 s-8 d- to 5 s 0 d . SsSd . to 4 s . 10 d . 2 s . 8 d . to 3 S . 10 J .

      Pno visions . ^ -At Newgate and Leadenhall supplies of meat are largev but the quality seasonably better and prices higher , alth ough a dull trade is still complained of . Beef 2 s . 8 d . to 4 s . 4 d . ; mutton 2 s . lOd . to 4 s . 6 d . ; veal 3 s . 8 d . 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 43 & per cwt . Navy " beef and pork met very little inquirv . the

      Sugar . —The market is still dull , as buyers await coining forward of late arrivals . Prices are 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 arc 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 94 ) , 100 tons , against 115 , 300 last

      year-Coffee . —There has been on 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 arc again higher by id . to Id . per lb . Largo 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 , 239 , 000 lbs . against 71 , 204 , 000 lbs . Kick . —The dealings are limited to 12 , 000 bgs ., principally low soft grain , at full prices . ^ Sago is Is . per cwt . cheaper in consequence of Into arrivals .

      Cassia Ligxka has declined 10 s . per cwt ., a portion of the 4000 cwt . per Hindoo having opened nt 97 s . to 103 s . for piles I and 2 , but subsequently dropped to 86 s . to 97 s . for the respective pilea . Other apices not much altered . Fruit . —Fine qualities of both curranta and raisins command full prices , but parcels out of condition have sold largely on lower terms . SALTPKi ? RB . ~ -The trado are not disposed to buy in the face of increased supplies , and prices aro weak . Two contracts are advertised for continental Governments .

      The total required is about 600 tons . Dye-stuffs have undergone no quotable change Shkixac is Is . to 2 s . dearer for ordinary D C orange . Camphor has declined to COs . 6 d . to 61 s . 6 d . Metal . — -English tin was on Monday advanced to 124 / . for bar , 123 / . fur block , and 180 / . for refined . Foreign had also risen in vuluo , Banca making 127 & , and Straits A 28 / . 10 a . to 124 / . Spelter has dropped to 22 / ., at which tlioro aro strong buyers . Copper in demand ; best eclccted sold at 106 / . ; Burin at 110 / . ; Scotch pig iron ia firmer at 549 . to 54 b . Gd . for mixed numbers .

      Cotton . —The trade is heavy . Prices at Liverpool are Is . Od . to Is . 8 d . lower . In London the . busincea is quite unimportant , but holders aro firm . Silk ia generally well hold and in steady demand , with an upward tendency in China descriptions . ' Tallow . —The market has boon etoady without nny particular features , and closed to-day linn at 51 b . on the spot , 50 n . Od . all the month and spring delivery , and 61 h . Od . for March only . Homo tallow has not liven altered In the official letter this afternoon .

      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 Rail have been 11 , 375 qrs . against a delivery of 9862 qrs . In consequence of rather liberal imports 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 similar 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 , 6 d . ; Ibrail , 24 s . to 26 s . ; cost , freight , and insurance . COBN 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 43 8 Barley 3057 „ 47 9 Oats 1799 „ 25 1 Beans 168 „ 38 9 Peas 141 „ 46 7 Seeds . —The import of linseed since our lajt is 15 , 400 qrs ., consisting of 4600 qrs . from the East Indies , 8800 qrs . Taganrog , and 2000 qrs . Odessa ; Bombay on the spot cells at 55 s ., and Calcutta at 52 s . to 58 s . ; as to quality , considerable sales of the latter description have

      been made at 51 s . 6 & , cost , freight and insurance , including bags ; and a cargo Taganrog floating , has been sold at 52 s . delivered V . K . Our gross importation up to this time is 287 , 100 qr » ., against 206 , 950 qrs . at the corresponding period last year . Rape and oil seeds have still an upward tendency ; fine sound Calcutta rape commands 54 s . per err , ; flue Bombay Guzorat , 68 s . 6 d . to 64 a . ; Ferozepore and Scindc , 45 s . to 57 s . m to quality ; Teel or Sesame 51 s . to 54 s . for black , and 55 s . to 59 s . for white ; Poppy , 53 a ., and Niger , 88 s . Linseed cakes remain without alteration in price ; they are however decidedly not flatter , and -with a little frosty weather wo should doubtless have some Improvement . Oilh . —Linseed oil has become exceedingly scarce , and present oil is of ready sale at 29 / . 15 n . to 80 / . per ton . Some business has been dono for delivery in the oarjy months of next year At 29 / . 10 a ., but 30 / . is the value January to June . Itapo and soed oils nro in good demand , foreign refined rape soils at 47 / . per ton , and brown

      Untitled Article

      HOME , COLONIAL , & FOREIGN PBODTTCE MARKETS .

      Untitled Article

      Friday Evening . The reduction of the rate of discount by the Bank yesterday took the public by surprise . By a party it had been for a long period demanded in vaiii , and , the hope that it would be conceded was entirely given up when it came . Several persons , not expecting it , had given a higher rate than it for money and were chagriucd at their error . Other banks soon afterwards reduced their rates , and moner is now taken on call at l £ per cent , for * large sums and 1 per cent , for small sums of that the

      Many persons are opinion reduction now ^ s premature , and they believe that the Bank will have to raise the rate again ere Ion " We do not share in this opinion ; we see that tlm stock of money in the Bank is very large , we aro well assured , too , that it continues large iu all the banks , and that masses of money are lyinc idle for which employment is sought in , vain . iVc see 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 . Till-sonic very low rate shall stimulate enterprise money will remain redundant .

      The alteration had a favourable effect on . all securities . Consols left off yesterday at 97 £ , being a rise of a good J 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 time . 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 . Railways , however , retained their advance , as soine nfthe North British were iu demand . Money is

      finding its way into Kast Indian Debentures and other East 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 , a higher rate of interest than Consols . It may , however , be expected , as the rate for money frills' or keeps low , that securities of all kinds will rise in value , llailway shares are

      expected to improve still further . The returns of the Bank of Trance for Isovcniber , which arrived to-day , arc favourable . Tic bullion has increased above 1 , 000 , 000 / ., and the advances to commerce by the Bank have decreased . The advances on railway securities have increased . Probably the substance of this rd urn was known to our Bank Directors yesterday , and influenced

      their decision . .. ,, In the course of the week the affairs of the notorious bankrupts Davidson and Gordon were again under investigation in the Bankruptcy Lourr , and Mr . Chapman , lately a partner in the house ot Overend , Gurney , and Co ., underwent a long examination concerning the connexion cl this House with the bankrupts and Mr . Wwlle Cole . We cannot be reminded of these . incidents without qmarking that the condition of trade which ^ llusfl . « , « otw , n ?; rtv . , «< w ? n nnnnrrmfc ftS CXlstllliT HI XoJ-i flUU of it

      185 ? accounts for ll ^ ny the clifllcuUica now labours under , and is likely to ubour iundo for some time . The moral character of » f'J 83 . , ™ nation can neither be . founded nor dejj . trojc 4 i ao day . When the examination of Mr . Ch pi n mm been completed w . e may again advert tot ° l ) g An application most powerfully backed . to * cca mado by the Atlantic Telegraph Con « J ho guarantee of 4 * P « ccnt- «" 11 | C 11 C S 1 company proposes to emp loy 1 » liiyu Wl ? No mo o cable between Ireland and Newfoundland . W " ^ noble or more arduous enterprise was ovei taken-uono which refects more W ^ Vlescience which discovered thy principle o i « fc graph and the art winch carries it nuo None bettor deserves Government f ^ K , , tholoss , as wo do not know where to dn \ ' t ., . and aro on principle averse Irom t . ™ TCi 0 \ vo moting different undertakings , vv ; o ca inpt . * t 0 bo notice the- application , also say tlmt it- o"K complied with . , » > linnf . v is " nUI 1 On tho Continent the supply of n oiicy dant . At Paris the rate is 3 pet cent .., ^ burg , 2 j at Frankfort , 4 ; at Wouliu' . , ** , at Brussels , 3 per cent .

      Untitled Article

      MONEY MARKET AND STOOtT " EXCHANGE .

      Untitled Article

      1364 TH E £ EAB E R . [ jSTo . 455 , December 11 ^ 1858 .

  • Citation
    • Leader (1850-1860), Dec. 11, 1858, page 1364, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2272/page/28/