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No. 472, Amu. 9, 185Q.I THE LEADER ^ __/...
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— ¦ ii i -i- '' — ¦¦ ¦ = GENERAL TRADE R...
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which occurred in India, are referable t...
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RAILWAY INTELLIGENCE.
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« a -«- . ,, ,,-..---«,»,«, RAILWAY INTELLIGENCE
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London-Bridge and . Ciiaring-Cross Railw...
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JOINT-STOCK COMPANIES.
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A meeting of the company of Copper Miner...
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Local Jurisdiction in Bankruptcy.;—The M...
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Tub Berkeley Fbisiwok.—On Thursday tho P...
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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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No. 472, Amu. 9, 185q.I The Leader ^ __/...
No . 472 , Amu . 9 , 185 Q . I THE LEADER ^ __/ 477
— ¦ Ii I -I- '' — ¦¦ ¦ = General Trade R...
— ¦ ii i -i- '' — ¦¦ ¦ = GENERAL TRADE REPORT .
Which Occurred In India, Are Referable T...
which occurred in India , are referable to other causes than that of a glut of English manufactures . To counterbalance this satisfactory information we have to state that the last advices from Australia indicate a repetition of that ruinou 3 system which pro : luced so much bankruptcy in 1853 in Australia , and which eventually reacted with such force in this country . We refer to the practice of sending consignments of goods of all kinds on sale and speculation , without regard to the demand or the-capacity of- the population to consume them . We are informed that shippers have been told by their consignees that the depots are crammed with unsaleable goods , that buyers are only taking what they absolutely want , and are quietly waiting for that crash and that rush to sell at any sacrifice by which they profited so largely in 1 S 53 , and by which they hope to profit again in 1 S 50 . With this exception , we believe we may say that the export trade is in a satisfactory condition . Home trade appears to be both sound and progressive . Liverpool .- —The raw cotton market has not been very brisk , but a fair trade has been done , , and prices have given way under the strength of the reports from America of the amount of the crop . The price generally is lower by about id . per pound . Manciiestku . —Orders from Germany have come in pretty freely , but by no means to the extent which would be the case were matters on the Continent a little more pacific in aspect . From the Mediterranean few or nq orders are given out . This is what might be expected . The home trade is more active , and the Indian business , which was beginning to alarm spinners , has received an impulse in consequence of reassuring reports from Bombay and Calcutta . Several additional orders have been given out for India , but we have not heard that nianufacturers have made any concession in price—indeed our inquiries point to quite another result , It is certain that the downward tendency which began to manifest itself has been arrested , and that the markets for yarns and cloths are firm in tone , Leeds . —Light and fancy fabrics still continue in demand . More sales are made of plain cloths j altogether the tone of the trade may be reported as improving . Brai > jfoiu > . —Wools arid worsteds ai'c more in demand . The finer sorts of wool have an ' Upward tendency ; bright haired are in request at good prices . Wools and brokes in demand , but no change in prices . Manufacturers are well employed for the honic and American markots . Leicestkk .- —As the shipping season approaches , it is expected that n busy time will ensue . In the hosiery districts , though trade is not active , there is an average amount doing , taking the season into consideration , Nottinchiam . —The lace trade is pretty fair , but no marked improvement has occurred , IIuddbrsi'iblo . —» Tl » e attendance of buyers from distant markets has been rathor limited . Prices in all departments are firm . A brisk demand exists for light goods , and superfine goods go ofl'botter . Birmingham . —The hardware trade is not very brisk , but it is sound . The iron districts in Staffordshire . and Waloa arc fully employed on railway orders . * Wo have reason to believe that the differences between employers and operatives in general trades which have shown themselves within the present year ,, will not grow to that magnitude to warrant alarm . Tliero is , in many instances , a disposition to listen to reason on both sides , and this , we anticipate , will prove the bostvpoaco-nmker .
>*• . Friday Evening . The current of business has been somewhat checked by the announcement of a dissolution of Parliament , but not to that extent which usually occurs on such occasions . Throughout the manufacturing districts trade has been good , but not very brisk . It is satisfactory to have to state that the last advices from Bombay give ground for the hope that the markets of India have not been oversupplied . The temporary cheek to demand and the partial lowering of prices
Railway Intelligence.
RAILWAY INTELLIGENCE .
« A -«- . ,, ,,-..---«,»,«, Railway Intelligence
A satisfactory report was read and adopted at the half-yearly meeting of the Dunblane , Doune , and Calleiider Company on the 30 th . The annual meeting of the Copiapo Extension line was held on Tuesday . The report was adopted . The directors were re-elected , and 2 . 000 Z . was voted to them for their services . Mr . Hankey was appointed one of the auditors . At the half-yearly meeting of the . Great Western Railway of Canada Company , held on Wednesday , the report , which was on the whole favourable was adopted ; and the dividend at the rate of 3 per cent , per annum being agreed to * the meeting adjourned .
The ' directors of the Scinde Railway Company have made a final call of £ o upon , the shares in the first issue of capital , and offer to the shareholders in the second issue the option of paying , in anticipation , the remaining £ 10 per share , up to the 28 th instant . A special meeting of the proprietors of the Loridon and South Western Company was held on Thursday to consider certain bills now before Parliament , tho first of which was for authorising the company to make new works , and to raise further funds , and for other purposes . The
un Monday a sponlal mooting of tho proprietors of tho Norfolk Railway was hold for the purpose of considering an agroomont between tho East Suffolk Railway Company and the Eastern Counties and Norfolk and Eastern Union Uompanios for tlio use ftnd working of the East Suffolk lino . A resolution was passed sanctioning tho agreement .
Chairman proposed that the consideration of the others should be postponed until the 18 th inst . Mr . Edgington wished to know when the ruinous competition with the Brighton Company now going on was likely to cease . The Chairman stated that they had desired peace , arid made every possible concession ; even when they found it would be impossible to keep friendly they had done everything in their power to conciliate the Brighton . The South-Western was not the first to lower the fares ; The bill was then adopted , and the meeting adjourned .
London-Bridge And . Ciiaring-Cross Railw...
London-Bridge and . Ciiaring-Cross Railway . The committee of the House of Commons have come to the decision that the preamble of this bill has been proved ; but- they require that clauses be inserted with reference to the compensation to be paid to St . Thomas ' Hospital . The committee adopted the unusual course of personally visiting and examining the London-bridge terminus , St . Thomas ' s Hospital , and the crossing of Wellingtonstreet , the interior of St . Saviour ' s Church , and the Borough Market . . letter from Turi
Sardinian Lines . —A n says : — " As far as I could judge by the view obtained from the coach road between Magenta and the Ticino , the heavy embankments in the valley of that river are all but complete , and the short unfinished section of the rail that is to Connect Turin and Genoa with Milan and Venice might be opened to circulation in a very short time . In Milan I was told that a month or six weeks would amply suffice . It is doubtless the present unsettled state of things and the possibility of war that stop progress . When those pass away , and the whole line is opened , it will be a twelve hours' run from this capital to Venice . "
Joint-Stock Companies.
JOINT-STOCK COMPANIES .
A Meeting Of The Company Of Copper Miner...
A meeting of the company of Copper Miners in England took place on Wednesday , Sir J . Ii . Pelly in tho chair , when a dividend was declared at the rate of 7 J per cent , oh tho preference shares and 1 per cent , on the original stock . The works were stated to be in an efficient condition , and nearly all departments are fully occupied . In reply to questions it was mentioned that tho stocks at Cwm Avon arc properly vouched and valued . The saving of 20 per cent , in tho wages of the' ironworkers , contemplated at the last meeting , lias boon effected . At the Quinquonnial electing of the Alliance Assurance Company , a bonus of 10 a . Cd . per share waa declared , making , with the half-year ' s dividend now due , an aggregate of 11 . 5 s . per share . Tho dividend ibr tho ensuing five years will bo continued at tho present rate of 17 s . a share ( or 7 L 14 s . Cd , per coat , on tho 11 / . ' paid up ) , a sufficient sum having been reserved out of tho profits ascertained and declared to provide for it . Tho half-yearly meeting of tho Australian Jointstock Bank was hold on iho 28 th ult . A dividend nt the rate of 10 per cent , per annum was declared . Tho net profits for tho half-yoar amounted to . £ 17 ) 557 12 s . Cd . Tho reserved fund was increased by tho sum of . 61 , 755 15 s . 3 d ., and now amounts to £ 8 , 200 Us . 4 d . The half-yearly meeting of tho shareholders of tho . Austrnlusiun ( Steam .. Navigation Company was held on the same day . The report was considered very satisfactory . A dividend at the l'ate of 10 por cent , per annum , with a bonus of ltfs . por share , was declared . Tho nut profits for tho half-year amounted to . £ 32 , 902 17 s . Gel . Mr . C . Komp was elected a director in tho room of Mr . T . W . Smith , rcslgnc . ! .
The half-yearly meeting of the shareholders in the Newcastle ( Australia ) Coal and Copper Company was held on the 31 st of January . A dividend at the rate of 10 per cent , per annum was declared . The report of the directors of the City of London life Assurance Society , presented at the annual meeting on Wednesday , congratulated the proprietors on a large accession of new business , " notwithstanding the immense competition to which life assurance continues subjected ^ During the past year new policies have been completed representing
, £ 21 . 0 , 534 , and producing a premium income of . £ 7 , 480 , being a larger amount of new business than has been effected in any year since the establishment of the society . The accumulated funds of the society would have been very largely increased bub for the recent additional purchase of the business of other companies , from which the directors anticipate satisfactory results . It is intimated that " the society being now established on a firm basis , the directors are devoting their earnest : attention to economise the working expenses of the office as far as'possible , without impairing its efficiency . "
The twenty-sixth quarterly general meeting of the Conservative Land Societj' was held on Tuesday , Viscount Ranelagli in the chair . The report showed quarterly receipts of nearly £ 13 , 000 , making a grand total of receipts , £ 380 , 814 19 s . lOd . ; land sale , £ 219 , 976 ' 18 s . 6 d . The committee reported , that at no period of the society ' s existence had properties of greater magnitude and importance been 'brought . under their notice than during the past quarter . The committee were enabled , taking into consideration the present position and prospects
of the society , to raise the rate of interest from Lady day to the end of the financial year at Michaelmas , 1859 , on completed shares , and shares paid a year in advance , to the rate of 5 per cent , per annum ; and to fix the rate of interest for the same period on monies invested in the deposit department , at the rate of 4 per cent , per annum . Viscount Ranelagli , in moving the adoption of the report , after commenting on its details , adverted to the importance of the society at the present political crisis . A vote of thanks was then passed to the committee for their successful management of tho society ' s affairs .
Local Jurisdiction In Bankruptcy.;—The M...
Local Jurisdiction in Bankruptcy . ;—The Mercantile Test says— " Considering the very great convenience which traders would have in resorting to p . tribunal within an easy distance of their own fesir dence , it seems to Us that an irresistible case is made out for conferring unlimited jurisdiction in bankruptcy on the County Courts . This jurisdiction is given to those courts by Lord J ohn Kussell ' s Bill . It is not proposed to abolish the jurisdiction of the present bankruptcy courts . In some cases creditors may think that their cases will have a more satisfactory decision in those courts . But wherever the . creditors are of opinion that they would best find their remedy in the County Courts , it is proposed to allow them to do so . This was the plan adopted in the recent Scotch Bankrupts Statute , and the result
is that the County Courts have been universally resorted to . The real secret of the success during the lust throe years of the working of the Scottish bankruptcy , lias been the conferring of unlimited jurisdiction on the County Courts . This was done so lately as 1850 , by the Act of 19 th and 20 th Victoria , chapter 79 , which , besides creating every County Court a oourb of bankruptcy , abolishes the distincr tion between bankruptcy and insolvency . Tho Act originated in a bill prepared by a committee of London merchants . It has remedied almost all tho evils formerly complained of in Scotland , and on tho whole , as regards cheapness , dispatch , and efficiency in the administration of an insolvent ' s estate , it has unquestionably placed Scotland the foremost among commercial nations . Tins Lessees' Scukbie . —Recent Paris letters inform us that the statement that tho Viceroy of Egypt had peremptorily interdicted M . do Lessens from proceeding with his plan for piercing the Isthmus of Suez is contradicted . It is now asserted that although the English Consul did submit to his highness reason ? for opposing tho undertaking , tho Egyptian government declined to ontortain his objections , unless they wore formally laid boforo % t in writing , and that in the meantime M . do Losseps is going on with his preparatory works without inoestation . >
Tub Berkeley Fbisiwok.—On Thursday Tho P...
Tub Berkeley Fbisiwok . —On Thursday tho PIouso of Lords sat as a eonimittoo for privileges on tho cjaim of Sir Maurice Frederick FlUhardinge Borkoloy , K . C . B ., & c , to tho honour and dignity of . Baron of Borkoloy Custlo . It was a claim by tho tonuro of Borkeloy Custlo , and of manors and hereditaments hold from his ancestors . 'After hearing counsel for the petitioner , and reoolving documentary ovWonco , their lordships adjourned .
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Citation
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Leader (1850-1860), April 9, 1859, page 29, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/cld_09041859/page/29/
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