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BANK OF ENGLAND. An Account, pursuant to...
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The East India-Company.—A court of propr...
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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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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Money Market Aw Stock Exchange. City, Fr...
rfstance judiciously and promptly extended is likely to neutralise , if it baa not already neutralised , unfavourable consequences , and to put an end to these embarrassments . With respect to the money market , the actual and prospective additions to specie continue to have an unfavourable influence on the rate—that is , unfavourable as regards the profits of the money dealer . It is difficult to get more than 1 A per cent . on call on the Stock
Exchange , and the joint-stock banks and discount houses are not disposed to launch out and rashly underbid the Bank for business . Nor can we find that a single bank is disposed to countenance anything that -wears the air of unsubstantial speculation . So much the better for our future . It is impossible , "with such immense masses of inert wealth , that the same calmness can continue much longer . When commercial activity sets in in good earnest , the probability is that it will be more than usually legitimate in character .
The East India Company -propose to hold from tlie Sank of England the loan of one million sterling obtained from that establishment prior to the crisis . The amount is repayable five or six weeks hence , but the interests of both parties will be consulted by the renewal of the loan , as the Bank , too , is in a position to renew the accommodation at a lower rate than that which the Company would be required to concede in other quarters .
Gold ia flowing into the Bank ; further considerable supplies from Australia are considerably overdue , one vessel having-been no less than 98 davs at sea with 104 , 000 * ., another 96 days -with 134 , 000 / ., and a third 75 days wi ^ h the important sum of . 428 , 000 ? . ; the Australian mail steamer is now due at Suez with a large remittance , and -with advices of further consignments by sailing vessels ; and specie is still coming forward in moderate amounts from the United States and Russia . ¦ . .- ; ¦ ' . ¦ ¦ ¦ ¦ : ¦ - ' ¦ .
An instalment of upwards of 550 , 0002 . has fallen due to-day upon the last Indian loan ; and , in addition , a large sum is understood to have been paid , in anticipation of future instalments . ¦ To-day a call of 5 L per share on Bast Indian Railway E Extension shares -win absorb 375 , 006 ? ., minus such proportion as may have been paid up in advance . - Mr . T . P . Shaffher , in the New York papers , states thai the Emperor of Russia four years back resolved
upon the formatipn . of a telegraph line from St . Petersburg to the Russian possessions in North America , and thence to San Francisco . ; Its course was to be from St . Petersburg to Moscow , thence across the Ural Mountains into Asia , passing through Irkutsk to the Sea of Okhotsk , and thence from Kamtschatka across the Sea of Karatschatka to Cook's . Inkly •«« tSxreeJnn Jum ^ rlca . This line , by a connexion with the river- Amoor and Mantchouria , would bring St . Petersburg and Pekin into direct communication .
The last numbers of the Sindian , received by the Indian mail , contain discussions on the value of the coal recently discovered in Scinde . From the trials reported there is apparently little room to doubt that for locomotives and river steamers it will prove extremely useful . It can be delivered at Kurrachee at 24 s . per ton , or about one-half the average cost of English coal . Letters from Tunis complain of attempts on the part of French writers to misrepresent the Government of the Bey , especially in connexion with its financial and commercial proceedings . It is contended that , so far from foreigners having cause to expostulate , all the trading advantages are on their side , since the Tunisian import duties are only 3 per cent ., -while France levies SO per
cent ; upon many of the products of that country . Formerly Tunis had a large business in sending silks to Algeria , which has been totally destroyed by prohibitory duties levied since the French occupation . It is asserted at the same time that the finances of the Government suffer greatly from a contraband trade carried on by foreigners , who rely upon the protection of their conuuls . The biddings on the 9 th inst . for the United States Government Five per Cent . Loan of 2 , 000 , 000 / . amounted to 6 , 000 , 000 / ., the deposit required on each tender being only 1 per cent . The successful offers were at prices xanging from 104 £ to 105 , the average at which the -whole was taken being about 104 13-l 6 ths . A largo "tender was sent in by Messrs , Rothschild , but -was not successful . The silk-market , instead of being depressed by the . China news , showed increased steadiness , , The continental exchanges have now : risen to a point which renders it tolerably certain that nearly the whole of the gold imports will be at once sent into the Bank of England . Latest . ; , The terms in which the Bank have renewed the loan of quo million stock East India Company are 8 J per cent , for one year . The Bank will continue to make quarterly advances on , Government stocks and first-class bills under three , inonths at 8 per cent . , The Bank have received between 800 , 000 / . and 4 tf 0 , 000 t more of gold within the week . : Mr . Duncan Gibb ' s affairs are to be wound up under , a deed of trust . ( ., latest quotations for Console , 96 } £ , money and time . i I f .
Zmjam, Awpflt 28; 185sq Ormfr^
ZMJAm , AwpflT 28 ; 185 SQ orMfr ^
Bank Of England. An Account, Pursuant To...
BANK OF ENGLAND . An Account , pursuant to the Act 7 th arid 8 th Victoria , cap . 33 , for the week ending on Wednesday , the 11 th day of AuRUst , 18 fi 8 . ISSUE DEPARTMENT , .... : . ; ¦ .. £ ' . ' ¦ ' -. ' ¦' ¦ £ Notes issued ......... 31 , 426 , 195 Government debt ... 11 , 015 , 100 ¦ — Other securities ... 3 , 450 , 900 Gold coin and bullion ... 16 , 951 , 195 - Silver bullion ——£ 31 , 426 , 195 JE 31 . 426 . 195 BANKING DEPARTMENT . £ . £ . Proprietors * capital 14 , 553 , 000 Gk > 7 ermncnt secu-Rest .............. S . 375 , 735 rities ( includiug Public deposits ( in- Dead Weight Aucluding Exche- nuity ) 10 . 884 , 244 quer , Comtnission- Other Sccurities . 15 , 064 , 472 ers of National Notes 11 , 063 , 540 Debt , Savings' Gold and Silver Banks , and Divi . Coin 703 , 311 dend Accounts ) .. 5 , 452 , 791 Other deposits ... . 13 , 550 , 343 Seven Day & other Bills 783 , 093 37 , 715 , 567 £ 37 , 715 , 567 M . MARSHALL , Chief Cashier . Dated the 26 th day of August , 1858 .
The East India-Company.—A Court Of Propr...
The East India-Company . —A court of proprietors was held on Wednesday , at -which the chairman an-r nounced the unanimous resolution of the court of directors granting an annuity of 2000 / 1 to Sir John Mair Lawrence ; and moved that the proprietors should approve of the resolution of the directors . He styled Sir John the saviour of India ; and alluding to the ba ' ronetcy -which had been conferred upon him , trusted that it -was only an instalment of'future honours . The opposition to the motion came from Mr . Crawshay , who endeavoured to show that Lawrence was a different man from what he -was represented to be- ^ arbitrary , disobedient to orders , and cruel . The 2000 Z . pension was granted . Will the Atlantic Telegraph Cable Last?—The cable having been laid , questions -which have for a time been set aside again become prominent . Among the chief of these is the probability of its continuance . Is it likely to last for any considerable time now it is laid ? The . considerations affecting this question divide themselves into two classes—those which affect the shore ends , of the cable , and those which relate to the deep * sea portion . The former of these needs no discussion , because we have already had sufficient experience to prove that , with ordinary precautions , submarine cables run but little risk of injury near the shore ; and atValentia there-are even fewer sources of danger , we believe , -f . hhn . of rtariy othfil ^ plac , e 3 » * * "wmj » cBi » of iha . ab sence of shipping from that part of the coast . We are unacquainted with the nature of the Newfoundland coast at the point at which the cable is landed , but there is no ground for believing it other than well selected . With regard to the deep-sea portion of the cable we see no reason for apprehending its destruction . It has already existed for two -weeks , and this affords excellent ground for confidence in its durability , at least for a considerable period . It is , of course , impossible to predict how long the insulation of the wires may remain intact , after the many forces and novel circumstances to which the cable has been subjected . There are good reasons for believing that the conditions of water low down in deep seas are highly favourable to the durability of a cable . We may confidently believe that the greater part of the-Atlantic cable is now surrounded by water which is so still and so low in temperature as to retain it in security for a long time to come . —The Engineer . The Electric Telegraph Company of Ireland . — Messrs . Chinnoek and Galsworthy , auctioneers , offered to public competition , on Thursday , with the approval of the Court of Chancery , the-whole of the line , plant , and materials of this company , which was established in 1853 . The line of telegraph ' as originally projected by the company -was intended to reach from Dublin to Donaghadee , on the coast of Ireland , and thence continued by submarine telegraph to Port Patrick , in Scotland , to a point near Dumfries , by which a complete line of telegraphic communication would have been established between Dublin and London . The line from Dublin , through Belfast , to Newtownwards , a distance of one hundred and seventeen miles , is ready for business . In Scotland the line has been laid down from Dumfries to near Port Patrick , about seventy-nine miles . The only offer made for the property was one of fiOO ? ., and the reserve price fixed by the Court of Chancery being much beyond this sum , no sule was effected . A Hot Weather Campaign in India . —* The following is an extract from a letter dated Banda , June 27 , from an officer of a cavalry regiment attached to the division of General Whitlock , forming a part of the Central India Army : — "The first day we were in tents wo had six men brought to hospital insensible from the heat , and one of them died that evening ; he was a lino strong man , quite well in the morning . I burled him in a hastily dug grave under a tree ; the others , with men of the other regiments to tlio number of 27 , were Bent back to Banda that night , and this ia the way Engllshmen are boing sown all about the country . The 48 rd have lost more than forty men and three oflicers since they left Bangalore , without hearing a shot fired ; but
Loss op A Screw Steamer . —On Tuesday afternoon tlie War Eagle steamer landed at West Hartlepool the master and entire crew of the screw steamer Tiroes , who reported the total loss of that vessel off the Yorkshire coast . The Times , of London , James Reaser master , from Harlingen for Newcastle , with a cargo of cheese and a deck-load of cattle , was on the 22 nd on the const , Huntcliffe ltock about thirty miles distant W . S . W ., ¦ when , about 1 . 30 p . m ., the engine-shaft suddenly broke , the sternpost gave way , and with it an extensive brench . was made through the whole of the afterpartof the ship . The captain and crew stuck to the vessel as long as
ing , and the blasting "hot winds are , we hope , gone for * this year . Our tents are open again , -which is a great comfort , as a nearly dark tent , which you ' cannot see out of , heated to 100 deg ., is not a pleasant place from 6 a . m . to 6 p . m ., and outside , the air has been so hot that we put our handkerchiefs to our faces and run if tve want to go from tent to tent I am glad to say those in authority have had the sense to let us wear white linen jackets , instead of our cloth ones , which were unbearable . "
the horses prancey the lance flag ; waves , and " tlie " steel sparkles in the sun , and the band * play a » cheerfully as ever , as the regiments file on their ground in the morning , though they are all getting considerably smaller than they were . I wonder the infantry : get on at all , but numbers of them fall Out , and a long string of doolies follows the column , headed by exhausted men . Fancy our joy when yesterday a thunderstorm was folio wed by heavy rain . The ground is moist this
momthere seemed a chance of holding her together , but , at about 8 p . m ., she went down—the crew taking to the boats . Shortly afterwards they were picked up by the schooner Clowu , of Aberdare ; but , off Runswick , intend , ing to land , they again took to their boats at twelve o ' clock on the noon of Tuesday . They had noti ho-wever , been long left to themselves , when they were surrounded by a dense mist . In this , plight they fell in with a Danish schooner , and on Tuesday morning they again took to their boat ? , and were safely towed , as reported , into the West Harbour . Of the captaiu ' s instruments , books , clothes , & c ., valued at about 120 / ., only a comparatively small portion has been saved ; .
New Pavilion Theatre , VTHiTEcitapel . ^—This new structure is now rapidly advancing . towards completion , from the designs of Mr . 6 . HI Simmonds , and in its construction great care is being evinced that the new house shall combine great strength , durability , and convenience , its walls . being upwards of two feet seven inches in thickness , and the whole arrangements have met with the approval of the Metropolitan Board of Works . The chief entrance , in the Whitechapel-road .
which will lead to tne pit ana boxes , is to be constructed of Portland stone and corrugated iron , to be carried on piers and arches . The pit of this theatre will be the largest of any similar establishment in London , and arranged so as to seat 2000 persons . The stage will be seventy feet -wide , and fifty-eight feet from the footlights to the back wall . The house is planned to seat comfortably an audience of 3500 persons , and the whole of the works are intended to be completed by the 30 tb of September next .
Lord ' s . Day , not Sabbatic—In all Roman Catholic countries the first day is called the Lord ' s Day ( Dominica ) , and the seventh the Sabbath ( Sabbate ) . This seems certainly to "be the correct designation . Can your readers tell me why so many pertinaciously call the Lord ' s Day by the Jewish name Sabbath , and when it first became the practice?—Wo tea and Queries .- — [ Hume says that the practice arose amongst the English Puritans in the reign of Charles I ., and was part of their general affectation of Judaistic forms of speech . ] A New English Dictionary . —A new dictionary is to bo prepared under the authority of the Philological Society . The work has been placed by the society in the bands of two committees—the one literary and historical , consisting of the Dean of Westminster , Mr . Furnivall ; and Mr . H . Coleridge ; and the other etymological , composed of Mr . Wedgwood , Professor Maiden , and another not yet named . —Critic .
The Arctic Expedition . —Captain Collinson writes to the 7 Ymea that he has received three letters from Captain M'Clintock , by which we ftnd that in the course of the last season he was unable to get into tho north water , and passed the winter in the pack . He hag now recruited at Disco , and , undaunted by this failure , has proceeded again in search of the missing expedition . Ministerial Appointment .- ;—The vacant commtasionership of inland revenue has been given to Mr James Disraeli , brother to the Chancellor of the Exchequer . Mr . James Disraeli , for the lost six years , has filled tho post of treasurer of tho Derbyshire County Court districts .
Slavery in America . — The Memphis Eagle furnishes a striking commentary on tlie humanity of the" peculiar institution . " A negro mnn belonging to Mr . Starko , near Memphis , ran away and was caught . The overseer , "W . S . Montgomery , had the fugitive tied over a barrel , and gave him five hundred lashes in all . Thenegro wns whipped each day for ten days , and in thret * weeks from the first abuse the victim of human slavery died , the luccrated flesh of his back having mortified * The murderer was permitted to escape .
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Citation
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Leader (1850-1860), Aug. 28, 1858, page 29, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/cld_28081858/page/29/
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