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Leader (1850-1860), 2nd July 1859, Edition 1 of 2, Page 801, Untitled Article

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      Untitled Article

      The shipping entered inwards and cleared outwards was less in May , 1859 , than in May , 1858 , and the shipping entered inwards in May was greater than in May , 1857 , but entered outwards ft -was less . In the five months the shipping entered inwards and outwards was in excess _ of both the other years , except that in 1857 the shippin" - entered outwards exceeded the present year by ° 49 , 16 i tons . So far as these returns are an evidence of the complete recovery of our trade , subsequent to the : convulsion of 1857 , and the settlement of 1858 , they are very satisfactory ,

      The effects of the war on our trade are to be deplored . They make manifest the intimate connection between our best interests and those of other people , and how just are those instincts which lead us to condemn the misrule which brings this calamity on the world , though it does not immediately reach us . Our peopTe arc , both from pecuniary interests and the higher interests of civilisation—if these can

      be said to be higher , for civilisation depends on subsistence , the very essence of all wealth—fully justified in protesting against being in any way involved in this war . They would , we think , have only done their duty had they expressed themselves more energetically on this subject from the very commencement of hostilities . In our country where the notion of Government existing by divine right has been discarded for nearly two . centuries , we must all be sensible that all Government is the

      mere instrument of the popular will , and that the people are responsible for its acts . They suffer from them—and suffering is the proof of responsibility . But to prevent war , such as that now waging , people must prevent the oppression that makes it necessary to recdver liberty . The fact that Government exists only by the popular will extends the responsibility of the people , and makes it their duty to secure liberty as well as prevent war . Trade thrives under freedom and peace .

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      Friday Evening . The demand for money continues to be good , and cannot be expected to lessen till after the dividends are paid . At the end of every month the demand increases , and at present , according to this rule , the demand is very good . No bills are discounted under the Bank of England rate , and considerable demands are made on that body . After the dividends are paid there ' will probably be temporary ease , but then the demands for bonds will most probably increase , more loans will also , it is probable , be required by Governments , and an easy money market is then not to be expected .

      Money was somewhat in demand , too , on the Stock Exchange , but the business there was so unimportant that the demand was not great . The prices of t ho funds and of shares have tended upwards through the week ; to-day the market was quiet . Consols opened at 92 & to 93 , and closed about the same , or at most 93 & . The intelligence from the Paris Bourse of a rise in the French funds , and intelligence of arise also at Berlin and Vienna , did not affect mir market , « s it was generally believed that the riso abroad was not warranted by any politicalcvonts . There have been rumours of negotiations , but nobody believes that negotiations can be successful till some decisive victories have been ' achieved . The rise . is , in truth , known to be the rosult of a particular atutc of the purchases on speculation , and , therofore , It had no effect here .

      The ro-vonuo returns made a favourable impression , from the evidence they afford of the increasing consumption and woll-being of the peonjle . Theiiicroase is so grout in the Customs and Excise that though the Property and Income Tax has been reduced , hud thqro been no necessity for augmented expenditure we might have dispensed with increased taxation . But expenditure lms of late been rapidlv increased , And on this account additional taxation is dreaded . Lust week sugar was purchased in additional quantities from an expectation that the duty on it would bo raised . Now it is supposed that the alternative lies between nn inoroaso of the Property and Incomo Tax , or n loan . In a fow days , when the Chancellor of the Exchoquorhas taken liia seat , we shall know our fate , and la the moan time conjocturoa aro of no value .

      The subjoined account of the Bank of England will show the state of the demands niado on its rosourcoa . ¦ — ¦ ' -

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      This corn market was dull to-day , and last Monday's prices for wlieat could not be roalisod by those who wished to sell . People begin to speculate on the coming crops , and , as the weather lias been generally favourable , a good harvest is expected . From tho south of France , and from part of Germany , the rojiorts arc not all favourable . In our own potatoes the disease , which generally appears about this time , has shown itself in several places . Wo have heard of it in tho north of England , in Essex and Kent . It has ' not yet , however , become alarming , and the condition of the corn market is an evidence that it

      is believed not yot to bo of much consequence . The other markets , too , were dull . Nothing of importance was done in tho sugar and coflToe market today , and to dispose of quantities of either , lower prices were -taken . Throughout tho country trade is not brisk . Everywhere it is slightly affected by the war . The iron manufacture feels , It ; the cotton manufacturer ^ , though they still onjoy a good domand from India , &c , feel a slackness from tho partial suspension of demands for the Continent . For tho motnls generally tho market wns dull , though spoltor , which has been for a considerable period , very sluck , vas to-duy a Uttlo more active .

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      On Thursday an adjourned special general meeting of the shareholders in the Great Western Company was held at the Paddington station , for the purpose of considering the bills now before Parliament for raising funds to complete the Bridport Eailway , and authorising the leasing of the same to the Great Western , and also the Berks and Hants Extension Bill , neither of which were in a sufficiently completed state to be considered at the special meeting held on the 31 st of March last . Resolutions approving the bills were agreed to unanimously , and the meeting was further adjourned till July 20 , for the consideration of the remaining bills now before Parliament .

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      At the meeting of the deposit creditors of Messrs , Calvert and Co ., the brewers , a resolution was unanimously passed ( save three dissentients ) for carrying on . the business through the agency of a joint stock company . This arrangement merely involves a nominal conversion of the capital of the depositors , vrho , instead of creditors , become shareholders , or partners . At the annual meeting of proprietors of the South Australian Bank , tlie directors' report described tho result of the bank ' s operations as satisfactory , and tho position of its aflairs as sound . The profit and loss account for tho year states tlie net profits at . £ 40 , 899 , exclusive of the bulunce t > i' £ 23 , 571 , on the 31 st May , 1858 . Deducting tho dividends paid in July and January last , tho balance on tho 30 th ult . becomes £ 42 , 077 , of which tho rosorvo will receive 10 cent . and will thus be raised to £ 05 , 742 .

      per , The net profits availablo for division will then be j £ 37 , 87 O ., and tho directors accordingly recommended a dividend of 9 per cent , per annum , payable , as usual , in half-yearly instalments . Tho directors expressed their " unaltered conviction that South Australia , whatever may bo its temporary depressions , cannot fail to afford in Its immense resources , and with its increasing population , safe and abundant employment for capital . " Tho report was unanimously adopted , and tho dividend declared . At the extraordinary meeting of the KoyaIw Mail Steam Company , on Tuosday , the shareholders , authorised t \\ o directors to tondor for tho conveyance of the mails to Australia via l ' annnm , and also empowered tho board to apply fbr a supplemental charter , which will enablo the directors to raise further capital by tho isouo of now shares , or dobon * twos to tho extent of £ 000 , 000 . This courso is

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      FROM THE LONDON GAZETTE . . Tuesday , June 28 . BANKRUPTS . Benjamin Robinson Bertram , Banbury , Oxfordshire , coal merchant . - William Phillips > Norwich , leather cutter . Bearon Marks and Edward Samuel Franklin , Birmingham , cloth cap manufacturers . John Aston , Birmingham , maltster . Thomas Swift , Sheffield , grocer . Francis Clubley , Kingston-upon-Hull , draper . James Wooldridge , Lincoln , fellmonger . Edward Clarke Brady , Ludford , Lincolnshire , grocer . BANKRUPTCY ANNULLED . Marcnaduke Forster , Bradford , Yorkshire , bill broker . Friday , July I . BANKRUPTS . Charles Schloezer , Moorgate-strcet , City , merchant . Benjamin Kirton , Woodford , Northamptonshire , builder . . James Armitstead , Burnley , Lancashire , grocer . William . Frankland , Morley , Cheshire , farmer . Robinson Cross , Hagworthing-liam , Lincolnshire , gTOcer . . Lyon Goldsmith , Finsbury-pavement , cigar dealer . Thomas Carter , Woburn , grocer . John Greeii Shedden , Birmingham , woollen , draper . Bearon Marks and Edward Samuel Fraukliu , Birmingham , woollen merchants . BANKRUPTCIES ANIfCtLED ; Robinson Cross , Hagworthingham , Lincolnshire , grocer . . Robert Henry Obbard , Old-street-road , Middlesex , lead merchant . Stephen Wrathall , Linton , Yorkshire , cattle dealer . SCOTCH BANKRUPTS . James Thomson ^ Low Wishaw , saddler . Thomas Aimers , Galashiels , grocer . George M'Phail , Glasgow , bag manufacturer . Adam William Dunn , Cleuchliead , Roxburghshire , farmer . G . F . Lyde and Co ., Glasgow , manufacturers . Thomas M'Arthur , St . Enocli ' s-square , Glasgow , « arver and gilder . James Taylor , Hope-street , Glasgow , commission agent . . John Calder , Kilbarchan , Renfrewshire , farmer . Robert Thomson , Hobkirk , Roxburghshire , farmer .

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      No . 484 . July 2 , 1859 . J THE LEADEE . 801

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      GENERAL TRADE REPORT .

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      MONEY MARKET & STOCK EXCHANGE .

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      liAJtfK OF KNGLAND . An Auooiuit , pursuant , to UiuAut 7 th iiml Mth Vlolorin oiu ) . IW , for l , hu wvukourilutf on . WyUnuadiVy , thu viUth day ofJuuc , Jttfnh —

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      PRICES OF THE PRINCIPAL STOCKS AND SHARES AT THE CLOSE OF THE MARKET .

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      Last This Week "Week STOCKS . 3 per cent . Consols—Money i-. ¦ Ditto Reduced 9- ' * 93 £ Ditto New D 2 | 93 | BankStock . . -. •• 220 India -.- 'Exchequer Hills ~ 4 p Canada Government O per cent . .. ; .. New Brunswick Government fi per cent . New South Wales Government 5 per cent . .. South Australia Government < 5 per cent .. Victoria Government 0 per cent .. Austrian Bonds , 5 per cent . Brazilian Bonds ,.. 0 per cent ..... . French Rentes , 3 per cent Mexican Bonds , 3 per cent Peruvian Bonds , 4 j per cent Spanish Bonds , 3 per cent . 42 Turkish Scrip , 0 per cent o . 72 RAILWAYS . Bristol and Exeter 94 £ 94 Caledonian 79 SO Eastern Counties o 6 £ 5 b- ¦ East Lancashire 89 89 = Great Northern 98 * 100 s ,, Western 54 | 55 ; Lancashire and Yorkshire 9 O § 93 ; London and JUackwal 1 64 03 London , Brighton , and South Coast 111 J 113 London and > 'orth-Western 90 U 2 ± London and . South-Western , 901 92 + Midland . S « i y t >| North British , 54 * 0 o North Staffordshire * gd 13 * Oxford , Worcester , nnd Wolverhamptou .. 30 £ 32 South-Eastern .... - 07 68 $ South Wales ..... « 1 01 Bombay , Itnroda and Central India ... ... 1 . 7 J 17 Calcutta and . South Eastern id Eastern Bcng-nl 3 ft J i d East Indian 1 < X > 101 ( Jreat Indian lVninsula 9 « 9 « S Madras . 974 Sohide « 0 20 Buiralo and Lake Huron 5 0 * Grand Truuk of Canada 34 * 34 * Great Western of Canada 14 $ lift Antwerp and Rotterdam 4 ? Dutch Rhenish < U « 1 OAd ICiiatcrn of l '" mneo 24 * 24 J Great Luxemburg !> i ' » Lombardo-Venetian Oft ' 1 Northern of JYanoo 30 £ 37 i ; I ' aris , Lyons , and Mediterranean 324 334 1 ' ariaand Orleans H ) 50 Sou thorn of France H > 4 1 " 4 Wot * torn and North-Western of Franco .. 2 U 4 21

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      ISSUE DEPARTMENT . Notes issued £ 32 , 110 , 105 Government Debt £ 11 , 015 , 100 . Other Securities .. 3 , 459 , 900 Gold CoiJi&Builion 17 , 635 , 105 Silver Bullion .. i . —;—£ 32 , 110 , 10 ; £ 32 , 110 , 105 BANKING DEPARTMENT . Proprietors'' Capi- Government Secutal £ 14 , 553 , 000 rities ( including Rest 3 , 178 , 541 Dead Wei ght Public Deposits ( in- Annuity ) . £ 11 , 281 , 376 eluding- Exche- Other Securities .. 18 , 458 , 897 quer . Savings' Notes 10 , 841 , 665 Banks , Comniis- Gold and : Silver siouers of Na- Coin 686 , 228 tional Debt , and Dividend Ac- . counts ) . 9 , 832 , 957 Other Deposits . ; .. 12 , 979 , 340 Seven Day and other Bills .. 724 , 32 b £ 41 , 2 fi * , 160 £ 41 , 268 . M . MARSHALL , Chief Cashier . Dated . June 30 . 1859 .

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      ' RAILWAY INTELLiaENCE .

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      JOINT STOCK COMPANIES .

  • Citation
    • Leader (1850-1860), July 2, 1859, page 801, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2301/page/21/