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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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London , Friday Evening . Aq usual in the last week of the year , which is almost a m » neral holiday , trade has been quiet , and we have no alteration of consequence to notice . But though the markets are quiet they cannot be considered unfavourite To-day the demand for wheat was rather more active - the price , however , is now almost as low as ever it was ' and the price of flour is , we believe , lower than ever it has been . This condition of the chief food favourable to manufacturers
market is extremely our and all consumers ; arid we learn from Glasgow , Manchester and other places , that business was never more flourishing . From India and the United States the demands are increasing ; and in the increasing consumption in the manufacturing districts , the agriculturists andl ' tlie holders of corn may expect that prices will be somewhat better . The imports , however , have been so large and the harvest was so good—potatoes , too , being plentiful and excellent—that no considerable rise can be expected . ' ¦
_ The condition of trade at the commencement of this year affords a favourable contrast to the condition of trade at the commencement of the year just closed . Then all was distrust and dismay in the commercial and manufacturing districts , insolvencies , accomplished and impending , were everywhere visible , and money was at a rate to render it hopeless to obtain profit on ordinary business transactions where discounts were required . Now the gloom has wholly disappeared . - Confidence , if it has not been wholly re-established in every direction ,
further advance . The home trade is quiet , prospects generally are considered to be better than has been the case" for many years past . Leeds . —A few parcels of goods were disposed of , but no very great amount of business was done . In fact , stocktaking , balancing of books , and Christmas revels have interfered with the ordinary current of business . There i 3 , however , one satisfactory feature , that markets nre firm , and that prices for the best quality of goods are moving upwards . Stocks are low , and the tone of business cheerful . Rochdale . —The wool trade has had a slight improvement . Full prices were paid , and the belief in a fall is gradually fading away . Altogether the woollen trade i * in an unwonted state of activity for the season . Flannels are not very greatly in demand , but prices are sustained . ¦
Bradford . — The manufacturers have not had a very busy week , but there appears nothing to complain of either in the business doing or the prospects of the new year . . Glasgow . — ^ The cotton market has been active throughout the week , and prices remain about the same as last week . The yarn and goods market has been very active , and prices have advanced . It i 3 expected that higher prices will have to be given , as the India demand continues large and manufacturers are full of orders . The pig-iron trade has had a quiet week , but a fair business has been done in mixed number Warrants . Birmingham . — Trade continues very fair , but not very brisk . The same may be said of the other hardware districts . The Coal Trade lias been active , and the mining districts in full employ .
is improving , and trade is gradually approaching into its usual activity . It Is quite true that a reduced amount of business has been transacted in almost every staple branch of our manufactures , the home consumption has been less , and the export trade diminished , but it is equally true that the trade which has taken place has been of an unusually sound and legitimate character , and that general prndence has characterised the proceedings of all classes of producers . No doubt there ha 3 been a certain amount of speculation going on in tallow , corn , scrip iron , and articles of produce , but , compared with past years , the amount is insignificant . Altogether , tEen , we venture . to congratulate the manufacturing
world on the prospects which the present year presents . We find that a good many branches of manufactures are fully employed , that orders are in reserve likely to continue full employment for some time longer , and that the workmen are engaged at fair wages . There have been a few symptoms of " strikes" among certain classes of operatives , but , if we except the coal trade , the strikes have been local in their action and their causes , and have lasted only a very brief period . The business of the week has been to . a certain extent interfered with by Christmas festivities , but altogether nothing has occurred to check the activity which has prevailed for some time past in the manufacturing districts .
One . of the few circulars yet issued , that of Mr . Thomas Thorburn , says of the Scotch iron trade : — "At the opening of the year a hopeful feeling prevailed that the low prices then engendered by the commercial crisis of 1857 would promote an extensive demand , large purchases were made . at from 53 s . to 67 a . per ton , and tho price gradually rose to GOs . by the middle of March ; but it being obvious that the make was continuing considerably in excess of the total deliveries , a quick reaction set in , the prico declined to 62 s . 6 d , by tho end of April , and has since fluctuated between 63 a . and 5 Gs . for mixed numbers . Tho pig iron produced in tho year reached the immense quantity of 945 , 000 tons , which , at tho average prico for tho year ,
represents a total valuo of 2 , 551 , 000 / . sterling . Of this there were consumed , and exported foreign and coast-Wise , 810 , 000 tons . It will thus bo perceived that tho stocks , which are now 205 , 000 tons , in warohonaokeepors and makers' stores , havo increnspd 185 , 000 tona in tho year . Tho foreign shipmonts exhibit n doorcase of 54 , 000 tons , tho local consumption of 59 , 000 tons , tho exports coastwise show nn incroase of 8-1 , 000 tons , compared with 1857 . ^ Meanwhile , tho foundries , engineering , and malloablo iron-works on tho Clyde nro manifuBting signs of approaching activity , which will bo further strengthened and consolidated by tho decided mul perceptible revival now happily begun in the general trado of tho country . "
Liveiu'OOL . —The cotton market has not boon quito so brisk as it was last wook . Tho business dono both for upoculatipn and import wna limited , but still for tho period of tho yoar very fair ; and prices have boon well maintained . , MANOHBSTrcn . —Tho latoat advii-os from India and China received during tho wook nro very encouraging . They fltato that tho import trade wan very brisk , that honvy sales wore takinK nlaeo , and that manufacture *
• "toady on hand not only wont oflT frooly , but also thoao yxpootoU to arrlva . This description of tho etato of Budnosa not only npplles to I ml in but to ' tho Clilim "" " Itots , mid tlio result U that « n artvanco on most do-Wrlntlpn of goods him boon ciatnbllahod . Shirtings arc "' SnOrby Bd . por plooo , and Jnonnulfl , nmriapollnin * , nnd Wfor light good * Ijd . jior plouo . Tho markets am ° j [ ° n g , aiulmanufaciturora nro no full of ovdonj , that lliuy ™* not outer in Id any IVoali contracts oxivpt at a ife ; ,, * ,, " ... ¦ ,,- . ,-.. ¦ .,., ¦ ...,,.. . >¦ ¦
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A . dispute has arisen between the London , Brighton , and South Coast , and the London and South-Western Companies respecting the . Portsmouth traffic . Both companies have been using a portion , of line in common from ilavant to Portsmouth until recently , and sharing the Portsmouth traffic in the proportion of one-third for the Brighton and two-thirds for the South-Western . It appears that , owing to the London and South-Western Company having come to an arrangement for leasing the direct Portsmouth Railway for 18 , 000 £ . a year * the Brighton and South Coast Company were unwilling to allow { their neighbours to run over the line to Portsmouth until new terms had been come to with respect to
the traffic in question , and formal notice * vas given to the South-Western directors to the effect that their trains would be prevented traversing the railway from Havant to Portsmouth after the 27 th Dec . The Brighton and South Coast Company had taken up a small portion of their rails on the main Portsmouth down line , which the South-Western men carefully relaid . The line eventually remained in the possession of the Brighton Company , and consequently the trains of the South-Western Railway Company aro at present prevented from going to Portsmouth . Meanwhile tho public ask , -what is being done by the Kaiiway Companies Association lately formed with the promise of healing or averting all discreditable contests of this nature ?
pany—one of the victims of John Sadleir a frauds—were dealt in this week at 5 s . per share . . The half-yearly meeting of the shareholders of the Dundee and Arbroath Railway was held on Wednesday , at Dundee . A dividend of 2 £ per cent , for the halfyear upon all the stock of the company , payable after the 1 st of . January , -was unanimously agreed to . At the respective- special meetings of the London and North-Western , and Chester and Holyhead Railwaj-Companies , held on Thursday , the agreement between these two companies were definitively confirmed . The event has been followed by a fresh rise of l £ per cent , in the latter company ' s stock .
Tho half-yearly meeting of the London and Greenwich Railway Company is called for the 11 th January , when a half-yearly dividend of 1 ? . 7 s . 6 d . per cent ., or 5 s . Gil . per share , will bo recommended on the ordinary stock . A further agreement lias been made between tho London and North-Westorn , tho Great Northern , and tho Manchester , Sheffield , hud Lincolnshire Companies , in reference to tho matters lately in dispute . They now agree to a gonoral division of competitive traffic , to bo settled by arbitration in case of difference . Other compromises have also boen effected , by which it is hoped to bring about a general pacification . Tho three companies aro to seek Parliamentary powers for these arrangements in the ensuing" session , the notices having 1 already been given .
Tho extension of tho Morayshiro Railway ( from its junction at Orton with tho Inverness nnd Aberdeen Junction Railway ) to Craigellnohie , a distance of five inilus and a half , haa been oponod for public traffic . It appears the lino has boon completed at a cost under 4800 / . por mile , It wna riimouroil this weok on tho Stock-Exchange that the North-Eastern Railway Company aro about to loa « o tho North British Railway on terms equal to a dividend of 3 £ por cent ,, por annum on tho ordinary stock of tho company . A call of 5 por font , ia to bo paid on tho shares in tho Kuat of Uavnrin Railways Company by tho 8 th Jnnuary ; nnd a call of 20 per . oont . on tho eharoa in the Empress Kltanbath Railway Company by tine 24 th January . Tho ahrtros in thoao undertakings aro hold principally in Gonnany .
It la stated that tho agroomont botwecn tho Lombardq-Venotlan Railway Company and tho Hharoholtiors of thu Maria Antonio . Railway , of l'lorcnoo , ia about to bo forthwith onrrlod out . Tho M . shares of tho Roval Swedish Railway Oom-
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Coujrrr Down Railway . —The works between the Junction and Downpatrick are proceeding rapidly towards completion , the permanent way being laid to Annacloy , and all masonry finished . The rails will be laid down to the Quoile River by the middle of next month . There is every prospect of the line being opened for traffic to Downpatrick within the next three months . ' The Border Railwavs .- —So keenly disputed are the merits of the rival Langholm and Liddesdale lines in the east country , that some of the Hawick manufacturers have been obliged to put up notices- forbidding discussion of the subject in their mills .- —Carlisle Journal . .
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JOINT-STOCK COMPANIES . Os Tuesday a special meeting of the Travellers ' and Marine Insurance Company was held , for the purpose of receiving a report of the directors of the proposed purchase of the business of the Maritime Passengers'Assurance Company . The chairman stated that the directors had agreed for the purchase of the business of the other company . Resolutions were unanimously passed confirming the agreement , and authorising the directors to issue the necessary debentures . A general meeting of the Commercial Dock Company is called for the 14 th of January , to declare a halfvearlv dividend , to elect four directors and one auditor in the room of those who retire * and to elect a director in the room of Mr . John Masterman , who has resigned . Vice-Chancellor Kindersley proposes , on the 18 th of January , to make a call" of . 1 / . 15 s . per share on the contributaries of the National Patent Steam Fuel
Company . The half-j-ear ' s dividend , to the 31 st of December , at the rate of 6 per cent , per annum , is advertised on the shares of the South Australian Banking Company . A general meeting of shareholders in the Bank of London is called for the 20 th January , and a halfyearly meeting of shareholders in the Commercial Bank of London for the 18 th January . The half-yearly meeting of shareholders in the Unity Bank is called for the 21 st January . At the meeting of the Canada Company , held on Thurday , the distribution declared was at the rate of 1 / . 10 s " per share free of income tax , and the report and accounts were adopted . It was announced that the recent returns from the commissioners exhibit a steady improvement in the company ' s affairs .
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GENERAL TRADE ItEPORT .
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but the No . 458 , January 1 , 1 Q 59 . ] T ^ E LEADER . 25
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RAILWAY INTELLIGENCE
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Coasting Trade op France . —This trade , for merchandise of all kinds carried from one French port to another in 1857 , either in the same sea or from one sea to another , was carried on by 256 ports , of which only 13 have connexion with Algeria . The general movement of merchandise was 2 , 573 , 265 tons , or 1 , 877 , 299 tons between the Atlantic ports and 695 , 966 tons in those of the Mediterranean ; the quantity carried from one sea to tho other was 118 , 950 tons . Out of the 2 , 578 , 2 ti . "> tons of merchandise carried coastwise during 1857 , Marseilles sent 280 , 868 , Havre 238 , 359 , Bordeaux 215 , 369 , Nantes 1 ( 51 , 84 ( 3 , Rouen 145 , 489 , and Aries 87 , 822 . Next comeClmronte , Cetto , Dunkirk , Honfleur , Rochefoit , and Port do Bouc , with quantities varying from tho minimum
of 41 , 476 tons to tho maximum of 69 , 989 . These 12 ports have absorbed 58 porcont . of the total quantity . Among the most important articles convoyed by coasters to nnd from ports in tho same soa , and from one sea to another , are—corn and flour , 884 , 888 tons ; common wood , 319 , 223 ; materials of different kinds , 892 , 462 ; soa sale anil sol gemma , 286 , 148 ; wine ,-180 , 783 ; coal , 119 , 888 ; and rough costings , bar iron , and steel , 108 , 33-1 . The above-mentioned merchandises compose together fil per cent , of tho gonoral movement . Tho number of voyages made by coasters in 1857 M'as 80 , 712 . Tho qunntity of merchandise and produoe of all kinds from one Algerian port to another in 1857 was 55 , 149 tons . Altfiera roooivod 55 por cont . of tho above quantity . —GallynanVs Messenger .
Decimal WuxontT . —The Liverpool Albion stotoa that tho now weight , equal , to 1001 b . avoirdupois , to be called . tho ' ? Cental , " will bo adopted exclusively for all transactions in tho Liverpool Corn-market on and aftor tho lat of February next , all ' other weights , oxcopt for minor portions of tho " cental , " and all inoiiMires . of every kind whatever , being from that tlato oxcludoJ . At Hull , likewise , it hurt boon resolved to adopt tho " cental , " not only for all grain , flour , nnd moal , luii for floods also ; anil Wakouold and Looda Are oxnootod to concur in tho movomont .
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Citation
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Leader (1850-1860), Jan. 1, 1859, page 25, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2275/page/25/
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