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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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EEYIEW OF THE WEEK . Mincing Lane , Friday Evening . BtrsnfiESff bas-tlns .-week been , in nearly every instance , of a merely nominal character , the leading markets being closed tintil the 4 th . The few transactions have , however , given evidence of the stability of most markets , and a steady and improving trade , in the new year is very generally anticipated . CoRN .- ^ -The fresh' suppli es of "both English and foreign wheat , and indeed of most other articles of the trade , have been moderate , and although the buying has been Only to a moderate extent , the tone of the market has in general been firm . English and Foreign wheat sold at the full terms quoted in our last . In flour there was rather more doing -without change in price . Malt is if anything the turn cheaper , choice new were sot being quoted over 67 s . Barley is more plentiful , and Foreign-Is * to 2 s . cheaper ; white peas are Is . cheaper , the weather checking consumption ; oats in moderate supply iand inactive , but not lower . COKST ARRIVALS . English . Irish . Foreign . Wheat qrs . 5 , 189 — 2 , 932 Barley ..... .,, 2 , 376 — 20 , 088 Gats „ 12 , 543 — — Beans „ 728 — 2 , 716 Peas ............. . 289 — 650 Flour sks . 19 , 102 — 1 , 925 Ditto ............ brlsi — — 25 XOKDOST AVKRAGKS . Qrs . s . d . Wheat 2903 at 42 8 . Barley ....... 243 „ 34 0 Oats .................. 1314 „ 23 11 Beans ... 269 „ 38 6 Peas 42 „ 58 4 Potatoes . —rVVlth average . supplies of home-grown and liberal imports of foreign , trade has ruled dull-: Tork Eegents , 80 s . to 100 s . ; Kent and Essex , 80 s . to 90 s , ; Scotch , 70 s . to 80 s . ; Cups , 60 s . to 70 s . ; Belgian Reds , 55 s . to 70 s . ¦ PROvrsrcrara . —At Newgate and Leadenhall trade has been dull , except for Beef , which sells readily at full prices , prime up to 4 s . 2 d . per stone . Mutton has declined considerably ; prime Downs sold at 4 s .
IuTVE Stock .- ^ - usual close after Christmas the supply has been short , and prices firm , although the demand was not active . The following were the numbers at market and current quotations : — MOHDAT . Beast . Sheep . * Calves . Pigs . 2 , 010 7 , 050 50 100 3 s . 8 d . to 5 s . 0 d . 3 s . 10 d . to 5 s . 2 d . 3 s . Bd . to 4 s . 6 d . 2 s . 8 d . to 3 a . 10 d . ' Thursday . 1 , 0 5 0 5 , 600 ... ' 210 150 3 a . 8 d . to 5 s . Od . 3 s . l 0 d . to 5 a . 2 d . Ss . Cd . to 43 . 6 d . 23 . 8 d . to 3 s . 10 d . Sugar . —The . only transactions , of moment , are a landed cargo Bahia at 36 s . 6 d . for export , a floating cargo Maceio at 26 s . 9 d .. for * Trieste , and 1500 bags Mauritius at-39 s . to 42 s .
Spirits . ' —Small parcels rum have been placed on full terms . Large sales of Otard ' a 1858 brandies have been made for arrival at 5 s . 7 d . to 5 s . 8 d . on the quay . Coicfee . —Businesa- is' confined to a cargo , of ' 3900 bgs . Rio . at 48 a .- for Trieste , and 1000 bgs . native Cey Ion at 60 s . to 50 s . 6 d . forgoodandfine . ord . » . Tea . —The market is quiet , but quotations steady . CoOHiKiSAt . very firm , in ; consequence of unfavourable crop : accounts . METAxari-Gonsiderable . transactions have taken place in spelter atadvanced prices ; ranging up to 2 QL 10 s . for W . H . platesr To-dayithe market is not so brisks . Other metals are not-altered materially .
Jutb . —About . 7000 bales . have changed hands at full prices , but tlae marketiclosG&lesaiactive . Cotton . —Very little passing , and . the ; market doll . Oxita . " —Olive has . rather a . downward tendency ; linseed scarce , and wonts 80 k Tallow—The market ; hasii been steady through the week , and closedito-day at : 61 s . , 8 d . for Russian yellow candle , on the spot . and for delivery- ; The official market letter remains aaon loat Friday ; Xn other articles , the transactions have been * entirely devoid of interest . ,
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Algebijw IUwvrAY . « --Mr . Henry Smith , of Birminghftm , contractor ; troa been in I aris with a stair of English engineers ; investigating tho project of tho proposed railway from Algiers to Oran . lie had aa audience wit * PrincQ Fap . oleonj' and has since left for Algeria , wMtber his stafifbf engineers had preceded him to proseouto'inquirleiinto the project ; '' Thh Natzonai / Bank o » " AuaTWfA ;* - Under tho au > thorlty of tho' Minister of Finance , tho bank- has announced the'isauo of" one-florin notes in thto same proportion in ; the new currency Jn which notes for-one , two , and five florins'in / the old are withdrawn . Tile amount of new notes-is'not to exceed 10 , 000 , 0007 ., and they ore seourfid by the mortgaged ' State domains . An increase of tho metallic reserve is likewise promised .
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BANK OF ENGLAND . A . n Account , pursuant to the Act Vth and 8 th Victoria cap . 33 , for tho week ending on Wednesday , the 20 th day of December , 185 SISSUfc DEPABTMEKr . - . ¦ -: ¦ £ I ¦ ¦ •¦ £ Notes issued 32 , 855 , 315 Government debt .. ll . ovs . lOO ; Other securities ... 3 ,-i 5 t » , 900 : Gold coin and hul-| lion . 13 . . 313 ¦ : Silver bullion ——JE 32 . 355 . 315 ^ 32 , S 55 , 315 BANKING DEPAJtTMEJTT . ' J 5 . ' ¦ ¦ . ¦ ¦ " ¦ £ ¦ ' Proprietors ' capital 14 , 553 . 000 Government socu-Rcst 3 , 115 , 077 rities ( including Public deposits ( in- Dead weight AucludinR Exche- nuity ) ... ... 10 . 808 . quer . Commission- Ofcher Socurities . 16 , 950 . ore of National Notes .-.. ..... 12 , 744 , 905 Debt , Savings * Gold and Silver Banks , and Divi- Coin 58 C 7 S 5 dond Accounts ) .. 9 , 806 , 029 Ofcher deposits .... 12 , 903 , 618 Seven Day & other Bills 712 , 770 £ 41 . 090 , 494 £ ' 41 . 0 nO , JOi M . MARSHALL , Chief Cashier . Dated the 30 th day of Docombor , 1858 .
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FROM THE LONDON GAZETTE . Tuesday , December 28 . BANKRUPTCY ANNULLED . Edward Dixojt , Graveaend , oilman . BANKRUPTS . Jonathan Ilirxs ; Dartford , miller . Joseph Cams , Alcestor , Warwickshire , licensed victualler . John Cheetham , Birmingham , gonernl dealer . William Picarsaix , Kiddorminster , licensed victualler . James McIntcyur , Morthyr Tydvil , draper . Richard and W 11 .. MAM James Romiwkjll , Rochdale , woollen manufacturers . SCOTCH SEQUESTRATIONS . A . R . Stewart , Aberdeen , dyer . W . Bisset , Old Mfichar , AberdeensHire , gardonor . G . Rodebtson , Kirk wall , general merchant . R . Wauoh , Coatbridgo , bakar . J . Rodii , Edinburgh , builder . Friday , December 31 . BANKRUPTS . Guhtavh Duystkk , Old Trinity IIouso , Wntor-lane , gluss-morclmnt . John Ai ^ kbd Mei-kn , High-street , ShoroiUtcb , tobacconist . Robert McTlAjroaro Mklmss , Manchester , merchant . Edg-awAugh / stuh Q lover , Liverpool , hotel koonor . Hbnry Wkst , 14 and 1 . 0 , Cannon-street , unliolsturor . William GAwwnyStoakport , draper . SCOTCH SEQUESTRATIONS . Wjouuam Turner , llawiok , grooor . . WlMAAM . JiVKNa Or WlJLUAW fcjTHUTnBRS BUIINS , MMburglj , lacQ dealer . , , ,, •_ . Alexander M'Boy , South Mean Echt , AboraooneUiw , furmor . Joxm Boyo , Pftisloy , draper .
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MONEY MARKET AND STOCKEXCHANGE .
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HOME , COLONIAL , & FOREIGN PRODXTCK MAHKETS .
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26 ^ THE LEADER . [ No . 458 , January 1 , 185 S .
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Friday EvKNXNa . The demand for money , which has b $ cn active all the week , was extreme to-day ^ and it generally is considerable at the close of the year . Eor some time no bills have been discounted below the Bank value , and to-day higher terms were demanded . In the Stock-Exchange ' 3 per cent , was freely given for loans for short dates , every person finding it more for his advantage to pay a high rate for temporary accommodation than have on this day a scanty
balance at h is banker ' s . But this extreme demand is merely temporary , and to-morrow will probably be relaxed . The public funds have been dull in the week , with- very little business doing . They preserved the same character to-day . Consols closed at 96 | , Exchequer bills continue at 86 to 39 premium . From Paris the prices come steady , and there , as here , the funds are quiet . . Railway shares , as the traffic accounts continue to be good , are generally looking up , and likely to improve . To-day the shares of the Birmingham line were in much request , and they were at 97 f ,
buyers . North British too , which the Berwick Company is expected to purchase , were rather run on , and advanced to 62 , ouyers at that price . We notice with regret that the proceedings of the Joint-StockBanks , in placing the "Victoria Debentures on the market in a '_ manner something unusual , excite attention and remark ; while their success and their great resources giving them advantages over individuals , induce them so to extend their business as to beget alarm for the ultimate results . We trust they will continue to be prudent and to eschew all but real banking business . - The already announced Russian Loan continues to be expected ; and as it is to be contracted chiefly for promoting : manufacturing and commercial
enter-—as we learn from the circular of Messrs . Gurrv Kellock , and Co ., Liverpool , shipbrokers—of " ttic large fleet that has gone to the East in the war service . " The enormous amount of tonnage , they say , that has accumulated in the Indian , and China ports ( about 500 , 000 tons ) , has redu ced frei ghts from thence to a nominal rate . " It is probably known to our readers that the enormous amount of tonnage employed in the war service or as transports , are not included in our shipping returns , and , - being exclusively British , were they included would affect very favourably the statistics of our shipping . Moreover , the owners of these transports , carrying troops and stores to the East , take into their consideration the probability or not of obtaining return
cargoes , and they are so well paid for carrying men thither that they can afford to come home empty without loss . Another cause for the diminished employment of our shipping is said , by these gentlemen , to be " the discontinuance of the guano charters , " as well as the general contraction of trade . They give us hope , however ,-of a revival . ic Outward freights have considerably improved ; !> " ship-building in the colonies has been diminished , " and , as a consequencej " second-hand large colonial ships are improving in demand . " The condition of the shipping which is left will be improved too by the losses of shipping in 1858 ^ " which have been enormous > considerably over those of 1 S 57 , " however much some . shipowners and underwriters may thereby sutter .
prise , which in . the end may pay well , it is looked forward to rather with favour than apprehension . The Public Securities throughout the last week of the year have been generally heavy . No political cause can be assigned for this . Several loans , indeed , are announced , which have some influence over the market , but we believe that the principal cause is the' great profit which has of late years been made by employing money in trade . When banks pay dividends of 15 or 20 per cent ., it is not likely that tfioney will be eagerly pressed into securities that yield only 3 or 4 . At present trade is dull , but there is a prospect of its reviving , and of making again something like the large profits it made in 1856 and 1857 . As long ag hopes of such a result are entertained fixed securities will not rise
in price very rapidly . The first parcel of debentures of the Railway Loan for the colony of Victoria will be offered to public tender at the London and Westminster Bank on the 7 th instant . The amount will be 1 , 000 , 000 / ., and a further sum of like magnitude is expected to be brought forward during the year . A . deposit of 5 per cent , will be required upon each tender , the remainder to be paid on the 1 st of February . The debentures are for amounts of 100 / ., 500 / ., and 1000 / ., redeemable in twenty-five years , with interest accruing from the 1 st of October
last . The London committee point out that the revenue of the colony for 1857 was 3 , 307 , 407 / , ; that it is estimated to realise a similar total this year ; and that nearly one-half is expended annuall y on internal improvements . The total to bo obtained in tho short space of four ypars is 8 , 000 , 000 / ., of which 7 , 000 , 000 / . is to bo drawn from the London . market . Let us add to this , that the finances of this young colony havp already been onqo in a very dilapidated condition ; that tho amount of revenue for which credit is olaimed is enormous to be collected from less than 300 , 000 people ; and that a , very large . portion of it is
collected on trade , any decline m which will materially affect the , l'esourcos of the Government . In 1857 the revonuo of tho United States was nearly twice as largo aa- in 1868 , The revenue ; therefore , on which the . borrowers 1 and lenders 1 rely is gathered by a system' of taxation , that may on any day tumble to tho'ground . Moreover ; interest is to commonce from October last , or months before any revenue oau aooruo from railways yet to bo completed . Tho public oannot depreoato too strongly thopraotico of individuals , and Governments borrowings forge sums now to be paid by future industry , , One of . tho atrpng points of tho shipowners' case is tho very low freights from India , the oonfloquenoo
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Citation
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Leader (1850-1860), Jan. 1, 1859, page 26, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2275/page/26/
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