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Leader (1850-1860), 29th October 1859, Edition 1 of 2, Page 1206, Untitled Article

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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

  • Citation
    • 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/