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Leader (1850-1860), 4th June 1859, Edition 1 of 2, Page 704, Untitled Article

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      Untitled Article

      suspended their payments ; This is one of the curses of war . The London Chartered Bank of Australia held its ordinary general meeting to-day , when a report on the condition of > the bank and a statement of its assets and liabilities were laid before the shareholders . The profit on the year was £ 33 , 809 , and a dividend of 3 per cent , was declared for . tlfe six months , making a dividend of 6 per cent ; for the year ; £ 5 , 000 was added to the reserved fund , and there is a rest of £ 7 , 809 .

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      Bullion , por oss . PoroJgn Gold In Bare , Standard , 778 . Od . ? Moxlcun DoIb 6 b . Ofld . \ Silver In Bars , Standard , Oe . Od .

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      Wheat . Barter . Oatii . Rye . Beam Peas . . s . d . s . d . s . d . s . d . 8 d . s . d : April 23 .. 41 4 12 f 'iZ ' . 32 U it 4 : J 8 11 — 30 * 2 e 32 i W 4 30 £ 41 f- 38 0 May 7 . 10 10 12 t . H 2 12 £ 12 f 19 11 — 14 ..... 52 5 32 1 ( -15 i J 3 4 45 J 12 0 — 21 .......... H 4 13 ' lie ? V , 3 17 if 45 5 — 28 50 6 53 f 15 . ' . 13 fc 40 f 42 10 Si | ato Average ^ ' ^^ ^ > T 1 12 li 44 U 39 8 GENERAL TRADE REPORT . Friday Evening . Our manufacturing industry continues active . In Manchester and other great towns of this description , there is no want of demand . The world was doing very well till the quarrels of princes disturbed it , and we can only hope that these will tend ultimately to the freedom and prosperity , of the people . As yet these quarrels have not much affected our trade ; the alarm is more for the future , than on account of any present losses . To-day in the Corn market prices had again a tendency downwards . The weather at present is favourable to our hopes of large crops . Grass and foilder of all kinds will be abundant ; but the cereals , though at present the weather is favourable to them , will yet need a dry and warm sun . In Mincing-lane the demand for sugar was . good , and the market firm . Tea and most other commodities were steady in price , ¦ with rather a slack demand , ¦ RAILWAY INTELLIGENCE . A special meeting of the Victoria Station and Pimlico Railway Company is called for the 15 th June , to authorise the directors to borrow 225 . Z ; and a special meeting of the Sittingbourne and Sheerness Railway Company for the 23 rd June , to approve the bill for raising additional capital and sanctioning a lease of the railway to-the . East Kent Company . The adjourned special meeting of the Xoniton and South Western Railway Company , fixed for the 2 nd of June , will be further adjourned to the 23 rd of June . At the meeting of the Eastern of France Railway Company , held at Paris oh Saturday , the dividend was fixed at the rate already announced , viz ., 20 f . 46 c . per shore . The accounts were adopted , as well as the new convention between the company and the frovprnmcnt .

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      Hungarian Railways . — The Debrezin Mislcolez Railway has been opened . There is now one continuous line of railway communication from Vienna , to the farthest and most easterly parts of Hungary

      »«.R»««,«««• «,--« .««« Joint-Stock Companies

      «< r £ £ S NOT CoNTBABANp .--The Moniteur says - " The Emperor's Government has hi therto not re garded coal as a contraband object of war- and w *> are prepared to announce that it will conform durin g the present war to this mode of regarding it " The Atlantic Telegraph . —This companv has issued a report , that will be submitted to an extra ordinary meeting of shareholders which is about to be held . The directors in this report show themselves anxious to carry on their important under taking , and they say that they have concluded a provisional arrangement with the Government Avhich may be the means of guaranteeing the successful completion of the work . By this plan further

      capital can be raised , and more cable submersed The Government are ready to guarantee a dividend of 8 per cent , per annum for twenty-five years , provided the cable is in successful operation and capable of conveying 100 words an hour . Also , that they Avill pay 20 , 000 * . per annum for messages . The company are to be allowed to spend 20 , 000 / . out of the new guaranteed capital in attempts to make the existing cable available . They are likely to continue to enjoy the benefit of the original arrangement for a payment of 14 , 000 Z . per annum from the United States Government . In return they are to surrender the exclusive right of landing cables on the shores of Newfoundland . '

      Prospects of the Silk Trade . —Of the producing capabilities of China for silk there is scarcely any limit . Forty years ago , the raw silk it was capable of furnishing was thought not much to exceed 200 , 000 lbs . annually . The quantity imported into the ¦ United Kingdom alone , in 1830 , rose to 500 , 000 lbs . and in 1857 , it had risen to nearly 10 , 000 , 000 lbs ., of all kinds ; so that the quantity which was supposed to be the utmost capacity of China to produce has been multiplied nfty-foid . The year 1857 may probably be considered an exceptional one , but even though last year was an

      exceedingly dull onein abusiness point of view , a difference of the 2 , 000 , 000 lbs . of silkbetween the imports from China in 1858 and 1856 is rather uriexplicable . In . 1844-45 , the export of raw silk from Shanghai amounted to only 9 , 434 bales ; but in 1856-57-58 , it was 60 , 736 bales . Within the short period of fifteen years , Shanghai has furnished Europe and America with 534 , 845 bales , which taking them on the average at 108 lbs . net , gives a total of 58 , 763 , 260 lbs . of silk ; and as it takes about 12 lbs . of cocoons to furnish one pound of raw silk . this gives 705 , 159 , 120 lbs . of cocoons required for the production of the silk for

      export , exclusive of that tor the large local consumption . There are very few , except tlio lower classes in China , but what are clad in silk garments , and this taste for silk articles of dress is largely on the increase in the United Kingdom and in Europe . Unlike the production of silk in Italy , France , and Bengal , there are no filatures or extensive establishments in China for reeling silk of a known size , qualitv , or kind , uniformly throughout . All China silk is " the produce of cottage or domestic husbandry , and is mostly reeled by the peasant population which raises the worm . The mulberry iscultivated all over China , except in the most northerly regions . —China Telegraph .

      The annual meeting of proprietors of the Atlas Assurance office is called for the 6 th of July , to declare a dividend ; and a general dividend court of the Royal Exchange Assurance Corporation for the 22 nd of June . A petition for the winding up of the British and Foreign Reliance Mnrine Assurance Company is appointed to be heard in the Court of Chancery on the 11 th of June . At the meeting of the Trust and £ 0 : 111 Company of Upper 'Canada , the dividend declared was at the rate of 7 J per cent ., in accordance with the

      recommendation of the directors . The whole of the discussion was congratulatory , and after the payment of this amount , a sum of 128 / . will remain to be carried to the credit of the next half year ' s account ; the reserved fund will then stand at 20 , 721 / . The dividend declared at the annual meeting of the Oriental Gas Company was 2 per cent , on the paid-up capital , and the report and accounts , after some discussion , were adopted . The progress of operations is more encouraging , and although the rate of distribution at present appears small , it is fully anticipated that it will steadily increase .

      At the meeting of the Peninsular and Oriental Steam Company , the report was agreed to , and the dividend of 4 per cent , sanctioned by the . shareholders . The arrangements made for the Australian service , and the now contract with tlio Pacha of Egypt , for expediting the transit route , afforded satisfaction , and the only point discussed was the increase in the cost of tlie freightage of coals to the various stations , which has become a serious item in the accounts . At the mooting of the Law Property and Life Assurance Society , on the 27 th ult ., the statement placed before the directors was extremely favourable . The report stated that the directors have accepted the transfer of the business of two life offices , producing an Income of upwards of X 2 . 000 per annum . The directors also inform the shareholders that after making allowance for all lapses to tho present date , the income of the Society npw amounts to 4110 , 000 por annum .

      French Sliding Scale . —A petition , which m a few hours was covered with 200 signatures of the leading merchants at Marseilles , has just been transmitted for presentation to the Emperor , praying that the operations of the sliding scale may bo suspended until tho 30 th of September , instead ot being allowed to come into force next Monday . Iho decree of last year extended tho term for the ree importation of corn until the lust day of September , and , relying upon this , importers have made purchases and contracts for the delivery ot corn horo during the months of Juno and July . Hovb . — -Unfavourable accounts aro received of the honnlantiitionsthrouffhout tho district of Worcester

      The bino is backward and weak , and in many grounds it is eaten off almost as rapidly as it moKos its appearance abpve ground . In places where tno bine is more forward tho fly is becoming veiy numerous , so that tho present prospect ot a crop 18 anything but promising . Few hops aro in tho market , prices are advancing , and the present currency runges from 80 s . to 90 s . per cwt . New Atlantic Cahu 3 . —It is stated that a new Atlantic Telegraph Company is about to bo brought boforo tho public . It is proposed to lay 1 ° > v n t \ > cables of peculiar construction , on tho pri "« l l j > ™ what is known as secondary insulation , and Uftynb tho aclvantage of tho application ami ^ option of al tho latest improvements suggested by the : nih ro 0 past experiments . Tlio cable consists of tho suai coilpf copper wires insulated with Manilla hoi P on / 1 in , 11 , 1 . riih »»« r . r > r rrntta-ncrcha . and exterior vy

      covered , with hempen rope alono , instead o niotai , not twisted spirally , biift close woven on tho flaaii line principle , forming altogether ono of the "H >» , T flexible , and most durable of cables . The cost 1 » also economical .

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      BANK OF ENGLAND . An Account , pursuant to the Act 7 th and 8 th Victoria cap . 32 , for the week ending on Wednesday , the 1 st day Of June , 185 < J : — ISSUE DEPARTMENT . Notes issued £ 31 , 570 , 745 Government Debt £ 11 , 015 , 100 Other Securities .. 3 , 4 o < J , 'J 00 Gold Coin &Bullion 17 , 095 , 745 Silver Bullion — . — £ . 31 , 570 , 745 ' £ 31 , 570 , 745 BANKING DEPARTMENT . Proprietors' Capi- Government Secu-. tal £ 14 , 553 , 000 rities ( including Kest 3 , 100 , 840 Dead Weight Public Deposits < in- Annuity ) £ 11 , 081 , 3 ^ 6 eluding Exche- Other Securities .. lt > , 200 , < J 4 o quer , Savings' Notes 10 , 478 , 300 Bank $ , Commie- Gold and Silver sioners of Nil- Coin C 08 , 8 ui tional Debt , and Dividend Accounts ) 6 , 301 , 774 Other Deposits .... 1 G , S 3 C ,- ' 3 S Seven Day and Other Bills ...... 783 , 705 ___^^_ £ 41 , 635 , 557 £ 41 , 635 , 557 31 . MAKSHALL , Chief Cashier . Dated June 2 , ISoP . PRICES OF THE PRINCIPAL STOCKS , SHARES , AND COMMODITIES AT THE CLOSE OF THE MARKET . Last This Week . "Week STOCKS . . ¦ . '¦ ' " - 3 per cent . Consols—Honey . * . — . .. . 92 £ 9 y& Ditto Reduced iH £ 92 Ditto New 91 -V-i \ BankStock ................ ; 220 2214 India — Exchequer Bills .. ; ' ' Canada Government 6 per cent New Brunswick Government 0 per cent . .. ' New South Wales Government 5 per cent . South Australia Government Opercent .. Victoria Government . 0 per cent .. . •• Austrian Bonds , 5 per cent Brazilian Bonds , 5 per cent ' .. 100 French Rentes , 3 per cent Mexican Bonds , 3 per cent 16 $ Peruvian Bonds , 4 j per cent , Spanish Bonds , 3 per cent 40 41 Turkish Scrip , 0 per cent Si RAILWAYS . Bristol and JGxeter ; . " 0 91 Caledonian ¦ . 75 * 77 Eastern Counties 53 $ 54 $ East Lancashire fc > 4 67 . Great Northern 00 J 99 „ Western 0 % ih 53 £ Lancashire and Yorkshire 85 ;; 87 * London and Blackwall . 01 * ¦ . 03 $ London , Brighton , and South Coast 110 110 London amfNorth-WeBtern 87 | & » k London and South-Western :. 87 ? SflJ ; Midland fl 3 mi North British 518 . 53 * North Staffordshire 129 12 } Oxford , Worcester , and Wolvcrhampton .. 20 SO South-Eastern 022 < W 4 SouthWales : 01 < W Bombay , Barodaoml Central India ... 1 C& lttg Calcutta and South Eastern Eastern Bengal lju H * East Indian 97 Great Indian Peninsula » 5 A 081 Madras , 17 J Sclnde ,, Buffalo and Lake Huron fi 44 Grand Trunk of Canada 31 35 J Great Western of Canada 14 14 J Antwerp and Rotterdam 3 J * 4 A Dutch Ithoniuh 7 d 8 | Eastern of France 24 2 Great Luxemburg 4 J fii Lombardo- Venetian 2 J 6 , Northern of Franco 30 } 30 , Paris , Lyons , and Mediterranean 31 32 i Paris and Orleans 48 40 Southern of France 18 18 * Western and North-Wostorn of Franco .. 80 « oj

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      COMMODITIES . WnBAT—Rod , Now , 40 s . to 60 s . i Pino , Mb . to ' 67 b . j White , Now , 60 b . to Ms . Forohrn , R ., 40 s . to 60 b . j Whito P ., 02 e . to 66 b , y Ryo . 80 » . to 32 b . | Barley , 28 s . to 82 a . ( Malting' 38 b . tq 43 b . t W [« lt , Ord . 089 . to flls , \ Poaa , Hog , 3 ra .. to 40 b . » Bcane / Tlokfl , 37 b . t < i 41 h . s Indian Corn , 8 / 5 b . to 30 a . i Oftte , Food , 26 a . to 87 b . i Pino , 27 s . to a 8 a . . Pfc © UBj- ~ Town-nmdo , nov aaolc , 46 s , to 50 b . \ Seconds , 44 a . toMSo . t Mbbox and Suffolk , on board ship , 40 b . to 42 a . ? Norfolk and Htooktoii , 84 b . to 36 e . \ Ainorloan . per barrol , 80 s . IorT ' Oftnivdlftw ' a < H >> to 3 « i » .--JU » o « d , OJd . to 8 jd . tho 41 b .

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      JOINT-STOCK COMPANIES .

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      704 THE LEADER . [ Commercial

  • Citation
    • Leader (1850-1860), June 4, 1859, page 704, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2297/page/20/