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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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that they have " operated as an absolute discouragement to enterprise . "
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factirres . The shipping emplojed , both in the foreign and the home trade , both entered inwards and outwards , shows also an increase . " We may now , therefore , suppose , as the complaints of the shipowners have died away , that they are '> 'beginning 1 'to find out that they are less injured by the removal of restrictions , which has allowed commerce to expand , than by their own want of prudence . All the branches of trade are prosperous , and we see at present no reason to apprehend a reverse .
TRADE OF NINE MONTHS . The value of our exports in the ninth month of the present year was £ 11 , 631 , 426 , against . £ 10 , 713 , 765 in 1858 , and £ 11 , 068 , 874 in 1857 . Our export trade continues to be greater month by month than the trade of 1858 and of 1857 . In the nine months of the year it amounts to £ 98 , 037 , 311 , against . £ 86 , 310 , 329 in 1858 , and ^ , 735 , 592 in 1857 . The chief complaints are few—one , of a want of raw materials , though they have been imported in unusual quantities , wliich testify , in fact , to the great activity of our manii-
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Priday Evening Tjbce demand for money continues good / and the Bank rate of discount is the general rule . Since last week there has been no important alteration in the terms . People continue disquieted , and some have been both puzzled and alarmed , at an advertisement for two steam and two sailing ships , to be employed and fitted-up as hospital ships . Whether they are for our Government or for foreign Governments appear not to be known , but such advertisements belong to a classjthat are sure to excite , by the mystery involved in them , , considerable attention .
A meeting was held at the Guildhall Coffee-house to-day to take measures to prevent the counterfeiting of trade marks , and against the unseemly practices of making up webs and filling reels -with one quantity and selling them as of . a larger quantity . We had occasion several months ago to call attention to these practices , and we are glad to see parties immediately interested taking up arms against them . A committee was appointed to watch , pver the interest of traders , and take steps to check the scandalous dishonesty .
We confess to be much astonished at the Victoria Bonds , at 6 per cent ., part of a loan of £ 6 , 000 , 000 for that colony , having , in the course of the week , found a market at 108 J . The colony has not yet 500 , 000 inhabitants ; and for 500 , 000 inhabitants , £ 6 , 000 , 000 is as large a sum as £ 360 , 000 , 000 would be for the 30 , 000 , 000 population now in this country . In Victoria , toOi everything is yet to be doneroads to make , bridges to be built , and all the otheT instruments of production to be made , which we
already possess . Moreover , the expenditure , of the Victoria Government , in 1855 , was about £ 3 , 000 , 000 , or nine times as much as the expenditure of the Government of Massachusetts . No state in Europe , in proportion to its resources , is so much burdened as the colony of Victoria ; and the lenders must still believe that land and not labour is the source of wealth , or they would not risk their money in the hands of this most extravagant of all Governments .
The wreck of the Royal Charter , lamentable a misfortune a , s it is , will have the good effect of directing the public attention to Milford Haven ; as the safest , most capacious , and best situated harbour in England for our immense communication with the Western world . But we must tell those who connplain of the delay in using it , that till railways supplied the means , which they yet do very incompletely and inefficiently , ' of sending goods and passengers to and from Milford Haven , from and to all parts of the empire , to use it as the harbour of our trade was not
feasible . Now that railways make it easy aad cheap to communicate between Milford Haven and every part of the kingdom , we can have no doubt that it will speedily come into general use . A noWe baven , and one better situated , is not in the world ; "but only now lias it become fairly available to our trade . iVhe stock market was quiet to-day , and recovered ft liljtlo from the depression which has characterised it throughout the week . Consols , which were done yefttejday at 05 J , close to-day at 06—the same figure » s ^ RBtvw ^ 0 ] te . In the Interval , however , they have Pym - lowey , ' ¦ and generally the week has been une ft » J ^ w < H ? jWe hare Celt insecure , they hardly know ow-fty . "The expedition of © pain agajnat Morocco ,
countenanc ed and assisted b y France , excited uneasiness . iFrance might be using Spain , it was supposed , to assist her in converting the Mediterranean into a French lake ; and the States occupying , in conjunction , the south coast of the Mediterranean , might be found offensive to England . The foreign journals , as well as our own , have written much on the differences which exist between the two Governments , and have magnified , probably for want of topics of interest , the little molehills that may lie in the path of the two nations into mountains . All these apprehensions are , we trust , without - foundation . If , howeverj the great millionaires and the rich traders , who should command peace and be the masters of the Sovereigns , choose to submit to their pleasure , and hold their interests at the mercy of politicians , they must suffer as they suffer from the arbitary conduct of their lords and masters . BANK OF ENGLAND . An Account , pursuant to the Act 7 th and 8 th Victoria cap . 32 , for the week ending- on Wednesday , the 20 th day of October , 1859 : — . . ISSUE I 1 EPAETMENT . Notes issued £ 30 , 781 , 300 Government Debt £ 11 , 015 , 100 Other Securities .. 3 , 450 , 900 ( Hold Coin ^ Bullion 16 , 300 , 300 Silver Bullion . - £ 30 , 781 , 300 . £ 30 , 781 , 300 BANKING DEPARTMENT . Proprietors' Capi- Government Secutal £ 14 , 553 , 000 rities ( including : Rest ... 3 , 123 , 214 Dead Weight Public Deposits ( in- Annuity ) . £ 10 , 875 , 157 eluding- Exclie- Other Securities .. 18 , 093 , 103 quer , ' Savings' - Xotes ...... 8 , 547 , 830 Banks , Comriiis- Gold and Silver sioners of Na- , Coin C 12 , 251 tional Debt , and Dividend Accounts ) 5 , 590 , 545 Other Deposits .... 13 , 921 , 452 Seven Day and other Bills 940 , 100 " £ 38 , 128 , 401 . £ 38 , 128 , 401 M . MARSHALL , Chief Cashier . Dated October 27 , 1 S 59 .
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The London and North-Westeen Bailwat traffic return shows this week the extraordinai-y increase of . £ 12 , 273 ! ( making an aggregate increase of £ 82 , 582 since the commencement of tlie current half-year ) ; the Great Northern a decrease of £ 698 ; the Great Western an increase of £ 3 , 080 ; and the London and South Western an increase of £ 2 , 263 . The annual meeting of the Deksiuk Kail ' way Company was held at Aberdeen on Tuesday . The report was adopted ; a dividend of 6 per cent , declared , and the retiring directors re-elected .
The works on the Dublin and Mkatii line are being pressed forward with surpassing activity . With the exception of a few hundred , yards , every inch between Navan and Kilmessdn is roady tor the laying down of the rails . The arches that are to span the viaduct over the Boyne are being turned , all the centres being raised ; and the bridges at Ass-ye and Grange are open for public traffic . During his recent journey to Norway , the King of Sweden inaugurated the Gkeat Western Hailavat between the commercial port of Goteborg and the Gota canal , in the interior of the country . By the completion of this last link there is now a ' continuous line of communication between Stockholm and the neighbourhood of the Norwegian frontier .
Sir Samuel Morton 3 ? eto has received the concession for the Great Jutland Hailvtay between Aarhaus and Struer by way of Viborg , with a branch line to Banders .- '
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One of the most successful estates acquired for the Conservative Land Society was the one in the Old Ford-road , on which whole streets , shops , n chapel , &c ., have sprung up within an extraordinary short period . The Society lias secured a piece of land fronting the Old Ford Roman-road , adjoining the former property . Tlic now cstalo , designated the Roman-road , is close to the stations on the North London and Eastern Counties railwnys , and within a short walk of Viqtorin Park . The first ordinary general meeting of the Madras Irrigation and Canal Company was held at the London Tavern on Thursday , Mr . Jam u a Thompson in the chair , The report was adopted unanimously , after which the Chairman directed attention to the advantages to be derlvod from tlio undertaking in
which they were engaged , and promised that tney would enter upon the construction of the works as speedily as possible . In answer to several shareholders he said there was no fear of competition , us tue Government had an interest in their success , rlioir capital would bo sufficient to provide tho reservoirs necessary to hold tlio water , and tho proms would pay for it . It wns calculated that about 7 , 000 square yards of water was rcqiuroa for an aero of land , but that was too much , bugar wanted tho most , and rice npxt to sugar , and otnei articles varied . Tho airoctors wore ro-ulccted , ana their remuneration flxod at 41 , 000 a year , l » o auditors wore elected , and their remuneration lixoa at £ 20 a year each , and tho secretary ' s salary was put down at 41 , 000 a year . Tho timo for holding jhoir meetings was decided on , and tho court 01
directors reduced to seven . Tho half-yearly mooting of tho Qj-oina Insurance Company was hold on Thursday at tho offlces in Cornhill , Mr . Thomas M . Coombs , in the oliair . After a favourable statement of tho results of tuo business of tho current year had boon submitted , tno usual dividend at the rate of 0 por eont . per annum ( free , of income tax ) was declared . At the mooting of the Royax Mail ( West India ; Cowany whioh took nlaoo to-day , tho report was
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1206 THE LEADER . [ N . 6 .. 501 . Oct . 29 , 1859
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GENERAL TRADE REPORTFriday Evening . The corn market is steady , with a firm tendency at last week ' s prices . The supplies in Mark Lane to-day were small , and not much interest was evinced by the dealers . In Mincing Lane , too , the markets are steady—quiet , with a good business for consumption . Speculation has just flutter ed its wing over the market , and then flown away again to rest . In Manchester and the other districts of the cotton manufacture the markets have been dull in
the week , on account of a slackened demand fro m India—and continue so to-day . This however is quite temporary . From the hardware districts the demands are good , both for articles required at home and for the foreign markets . In truth , the general sameness of the national prosperity now makes trade reports dull . Some of our contemporaries are accordingly obliged to revive the old story of the Glasgow Bank , and excite interest by reviving the almost forgotten talc of its defalcations and mismanagement .
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MONEY MARKET & STOCK EXCH ANGE
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PRICES OF T ? IE PRINCIPAL STOCKS AND SHARES AT THE CLOSE OF THE MARKET .
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Last This Week Week STOCKS . " ^ 3 per cent . Consols—Money 90 * 90 Ditto Reduced 94 X tMft Ditto New - 94 * 04 f BankStook 224 225 India ^ H 222 Exchequer Bills 28 Canada Government 0 per cent .. New Brunswick Government 0 per cent New South Wales Government 5 per cent . South Australia . Government 0 per cent .. Victoria Government 0 per cent Austrian Bonds , 5 per cent .. Brazilian Bonds , 5 per cent ; .... 102 i French Rentes , 3 per cent Mexican Bonds , 8 per cent 22 £ 21 $ Peruvian Bonds , 4 £ por cent Spanish Bonds , 3 per cent , 444 Turkish Scrip , 0 per cent 774 RAILWAYS . Bristol and ' Exeter , 100 100 Caledonian 02 A 02 Eastern Counties 50 j fiu East Lancashire ., Great Northern 104 103 „ Western 00 c / j Lancashire and Yorkslilro 98 07 London and Blaokwall 004 07 London , Brighton , and South Coast llSJJ 114 London and North-Western 90 ft 95 London and South"Western 00 ; 90 Midland 100 ! . 100 North British » . COS 60 S North Staffordshire .. ; 4 d 4 jd Oxford , Worcester , and Wolvorhampton .. 34 A 30 South-Eustorn , 78 $ 77 South Wales 76 72 Bombay , Baroda and Central India .. 05 Calcutta and South Eastern id ,. Eastern Bengal lgd Id Eastlndian ...... * ... 10 W 1014 Groat Indian Peninsula 08 j 08 Madras , 84 87 Soindo , 20 101 Buffalo and Lako Huron fu 5 I Grand Trunk of Canada jjfil 305 Great Western of Canada 14 J 14 $ Antwerp and Rotterdam ..., .. 4 » Dutch Rhenish 44 44 Eastern of Franco , 274 27 Great Luxemburg' ...., 7 a 7 * Lombnrdo-Venetian ig * ixp Northern of Franco ,. 87 » »?* Paris , Lyons , and Mediterranean 804 80 $ Paris and Orleans , $ 5 " 55 * Southomof Franco . 21 , 21 Western and Worth- Western of . Franco .. 23 83
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At the meeting of the Oriental Bank Ooiwomatiqn , tho not profits of the half-year ending June last were stated at £ 85 , K 82 , allowing tho payment of an interim dividend at tho rate of 10 per oent . per annum .
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RAILWAY INTELLIGENCE
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JOINT STOCK COMPANIES
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Citation
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Leader (1850-1860), Oct. 29, 1859, page 1206, in the Nineteenth-Century Serials Edition (2008; 2018) ncse.ac.uk/periodicals/l/issues/vm2-ncseproduct2318/page/18/
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