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786 THE LEADER. [No. 437, Atjgttst 7 185...
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RAILWAY INTELLIGENCE.
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The markets for established lines, and f...
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MINING INTELLIGENCE. Wrc have nlrcmly st...
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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Transcript
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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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London, Friday Evening. , With Some Exce...
complaint of profits being absorbed by the turns in the market for the raw material at Liverpool . Both yarns and cloths hare been in more active demand . For some kinds of twist , spinners hare been -willing to take last week ' s prices ; but in most descriptions | d . per lb . advance has been obtained . Cops have advanced jd . perlb ., and mule yarn for India is id . perlb . dearer . Indeed , the character of the Bombay letters received on Monday was such that numerous transactions -were immediately entered into for India . Large purchases have also been made for the Mediterranean : and the German
demand , the remarkable character of which was noticed last week , is not yet satisfied . Printing cloths and India and China shirtings are readily saleable at an advance of l ^ d . per piece . Long-cloths and T .-cloths remain in good demand ; madapollums and jaconets are also firmer . Generally speaking , the terms for manufactured goods are in favour of the producer , and they appear likely to continue so , inasmuch as the Foreign inquiry is increasing , while stocks at home are not materially in excess of the ordinary consumption . At today ' s market the same general features prevailed , and a very fair amount of business was transacted .
The sales of cotton at Liverpool during the week amount to 69 , 000 bales ; by far the greater part has gone into consumption . Only 5500 -were sold for export . Spinners have discovered that , in the present state of the market , combined with the accounts from , the United Stat es , no advantage is to be gained by-waiting , and they have been content to pay id . per lb . higher for their requirements . The woollen trade in Leeds and tbe vicinity is still satisfactory , the factories being almost fully employed , ¦ whLle manufacturers have little difficulty in finding markets for their goods . The chief inquiry is from the home , trade . Letters from the United States , however ,
lead to the expectation of large orders for woollen goods for that market in the course of a few weeks . Already there is a better demand for Canada and Australia , but the latter trade is not , at present , thought much of . At the market last Saturday , and again on Tuesday , transactions were not numerous , but fullprices were obtained v and certainly as much business was done as is usual at the end of July and in the beginning of August . The flax trade is improving , but the scarcity and the high price of the raw material impede operations . The leather trade is springing into great importance in this town , and it is prosperous , and would be more so were the raw material accessible at more reasonable rates .
The machine and locomotive manufactories are fully employed . The worsted trade at Halifax is moderately active , and rather better prices are being obtained for Coburgs , Orleans , and other mixed goods , as well as for all-wool fabrics . Yarns are in good production at previous rates . The high price of wools is preventing accumulation of stocks either of yarns or goods , spinners and manufacturer buying only for immediate wante . In Huddersfield the prospects of trade for the remainder of the year are good . At this week ' s market there has been an evident increase , in the amount of business transacted . There has been a brisk demand for various descriptions of cheviots , tvreeds and twists in
various colours and qualities , and few of these goods remain on hand . The cheviot trouserings are now being manufactured in low -woollens and cotton warps at prices as low as 2 s . 9 d , and 3 s ., and these goods are a very close imitation of the goods in superior qualities usually sold at from 4 s . 6 d . to 5 s . per yard . The shipping demand for low woollens and unions is gradually improving , and large quantities of mixture and check patterns in these goods are being readily sold , as also the sixquarter union mixtures for cloakings . The demand for black doeskins continues steady and improving ; more especially in the piece dyes at 3 s . 6 d . to 3 s . 10 d ., and in-wool dyes from 4 s . 6 d . to 5 s . 9 d . per yard . The superfine trade of this district is also progressing
satisfactorily , and the demand is good for both black and coloured broadcloths . The Bales of blue cloths in various shades for coach linings , liveries and uniforms have been larger this season than any previous one in recent years . Prices in all departments of trade in this market remain firm , and cheap lots of any kind are exceedingl y few . The country trade continues quiet , the great bar to increased sales being still , wo believe , the generally observed tendency oF drapers and tailors to shuffle payment of due accounts . This serves to check effectually any inclination to press for an increase of orders , and acts prejudiciall y in many ways . Stocks of goods of all kinds in the Cloth-ball are not larger than usual for the season , having been considerably reduced during the last few weeks .
At Bradford some extensive orders have been received on Russian account , which must lo completed before the frost sots in . Other orders on foreign account have "been received to a large extent . The home trade is also more active . Tho staple trade of the district is therefore satisfactory , and" the prospects of its improvement are more general and more decided than they wero ft fortnight or three weeks ago . Orleans and Coburg goods are in good demand . 'Business has increased in English -wools , and tho demands of tho spinners have Imparted firmness to prices , particularly of good brlghtnalred Borts . Manufacturers , have in a great degree got over their recent struggles ; aua * ttfore is every reason to
anticipate that this season will remove all their difficulties . At the market yesterday the general tone and disposition was very good . The Glasgow markets have been showing an improved feeling all tlie week . From Nottingham and Leicester we hear that an average business is doing , plain goods being most in request . Norwich manufactures are coming rapidly into notice again , a very favourable change having taken place in the course of the last fortnight . Both the mills in this town which spin yarns are in full operation , and there is a good demand for spun mohair for Prance and Germany , independent of that for home consumption .
The accounts from Belfast of the linen trade continue perfectly satisfactory . For handloom linens and manufactures there is a very good inquirj' , especially for 4-4 th light fabrics and the lower sets ; and the tendency is towards higher prices . Diapers and drills are in small supply , -without change in demand . In lawns more business doing at firm prices . Handkerchiefs still dull of sale . Goods for hollands and dyeing still sought after at full prices . As to power-loom makes the accounts are much the same . For drills there has been a better demand than for some time past , and stocks arc decreasing . Heavy linens are in limited request , owing
to the firmness of manufacturers , the cost of production having been increased by the advance on yarns . In light linens for bleaching a fair demand exists at steady rates . In cambrics and handkerchiefs there has been a moderate business . For lawns there was an improved sale , and stocks are decreased . Prices are still low and stocks decreasing . For roughs there has been , a steady sale at an advance of id . to id . per yard . la unions there was more doing at a little better than late low rates . In white linens both the home and foreign trades aTe active , and prices are firm , owing to bleachers not being able to replace goods at former rates .
At Dundee the demand for yarns has not been so brisk as could be desired , but prices continue about the same . If anything they are rather firmer . In some descriptions of linens a good deal more business has been done . The flax market here is still showing an upward tendency , and a good deal of business has been done both in goods arrived and to arrive , at gradually improving prices . The demand is chiefly for the better descriptions , but common qualities are also sought for . The accounts from the foreign markets still show great firmness in the raw material . The quality of the new Archangel flax is stated to be very good . Fine tows are wanted , and jute is in fair demand .
The circulars issued by the leading silk brokers state that a large business has been done in silk during the past month , in which purchases for the Continent have materially assisted ; the unsatisfactory prospect of the new crop , and consequent advance in prices of European silk , rendering the coat of China silk comparatively very moderate . Although higher rates have been paid in some instances , for choice parcels , we cannot quote any general advance in the prices of China silk . Should the markets remain in the same relative positionj we may
fairly look for a continued good demand for export . The deliveries are the largest on record , being 8585 bales . Some small musters of the new silk had reached Shanghai , the quality of which is reported to be good , and the size rather finer than the old silk . In Bengal silk there has been more business done , the finest and best filatures being beneficially affected by the high prices of Italian silk . In Italian silk there has been a considerable improvement during tho pnst month , every bale of thrown that arrives being readily taken at advanced rates .
The hardware trades are still extremely quiet . A few country orders arc described as having been Rent to Birmingham during the week , but they aTe small , as dealers are limiting themselves to bare additions of articles to stock , even of such as are in general use . Tho like spirit of caution is observable amongst consumers , who are contracting tlieir purchases in every direction . In the agricultural districts business is very -much suspended by harvest operations . This and other causes continue to exercise a chilling influence upon tho home trade . As regards Birmingham , complaints of this nature have seldom been so general as they arc at the present time , and that these are not -without foundation is evidenced in various ways , all tending to their confirmation . Tho very alight degree of improvement which has been observable in some branches is attributublo to a
few foreign orders , the principal of those now on lurnd for export being for the north of Europe . In this branch of the foreign trade there is some degree of activity in completing orders for shipment whilst the navigation ih open . Tho South African trade is also moderately good . U'he same may be said of tho West India trade , tho crops in that quarter having turned out favourably . In the adjoining district of South Staffordshire , trado has not recovered to the slightest extent . At Wolvorhnmpton , business has not been so dull for years as it is nt tho present time . The iron trade is without improvement . It is only best brands of finished iron for which there is any inquiry , and wo see no immediate prospect of tho trade becoming more brisk . That it -will roco \ -or in time there can be no doubt ; and it is better thut the progress should be alow tlian that wo should have a roturn of t ho Artificial prosperity which chaxactaxieod th « trado for
twelve or fifteen months prior to the collapse * hich « 7 curred last year . The quotations for best mine pi « w undergone no change , but very few sales hav « 7 « t place this week . In Staffordshire there are no ^ n ^ immediate improvement . During the month of T ,, i . things were worse than in June ; but considerable orders are expected from South America and the contiuent of Ji . urope £
786 The Leader. [No. 437, Atjgttst 7 185...
786 THE LEADER . [ No . 437 , Atjgttst 7 1858
Railway Intelligence.
RAILWAY INTELLIGENCE .
The Markets For Established Lines, And F...
The markets for established lines , and for lines in course of construction , have been very good all ronncL Last week we noticed the improving tone of the markets and our anticipations of a rise has been confirmed bv- an upward movement generally in prices , and an incased bonajule demand on the part of the investing public There can be no reasonable doubt of railway sh ares even ' tually taking the very first rank as permanent invest ' ments— -ranking even before the public funds—because railways have a substantial foundation , and have ' the prospect of increasing dividends , while the funds rest upon nothing but public faith ,. and the interest is fixed The only drawback against unlimited confidence in railways is the unsettled and contradictory condition of legislation-which , has special regard to railways . Parliament is at the root of all the distrust on the public mind , and all the positive mischief which has of late year 3 been inflicted on railway interests . Next session something is to be done to remedy the existiii" ' discreditable condition of things ; but we confess , looking at the composition of the committee , we have very little faith in anything being proposed which will really meet the mass of evils , absurdities , jobbing , and injudicious decisions , which have operated so disastrously on railway interests and railway progress . We shall , however , do the best in our power , from time to time , to point out the prominent evils of the present system , ar . d to offer such suggestions as -will , we think , meet the worst portions of the mischief .
There has been some fluctuation hi the prices of the shares of several of the leading lines , owing to reports of reduced dividends ; but the markets , after a slight depression , have resumed their original position , with a tendency to further improvement . Our reading of the markets is that a gradual and steady advance in railway shares will occur . Dividends . —The Great Northern Iiailway Company officially announced at the rate of 3 g percent , per annum on "the original stock , and 3 / . 7 s . Cd . on . ' tlie B stock , towards the 6 per cent , for the year . Bristol and Exeter Railway will be at the rate of 5 per cent , per annum , against the same rate at the corresponding period of last year ; and South Devon . Railway stock at the rate of 1 percent , per annuum , against 1 / . 12 s . 2 jd . per cent , per annum last year .
Midland Railway Company officially announced at the rate of 4 ^ per cent , per annum , against the same rate for the corresponding six months of last year . London , and North-Western reported at 3 § per cent ., but nothing known officially . The London and Blaekwall Railway Company recommend the payment of a half-yearly dividend of 2 s . Od . per share . The dividend on the stock of the Xorth London Railway Company is also officially , announced at the rate of 5 per cent , per annum , showing an increase of A percent . over that declared for the corresponding six months of last 3 'car .
Indian shares have been in considerable request throughout the > veek , and several companies in progress have had their shares quoted nt a . premium . Higher prices are generally expected , ' especially in all the guaranteed lines . Foreign shares -were gcnernlly better , but there arc very few buyers . Some of the French shares were quoted nt a higher figure , but there is very little doing , and tho public appear to distrust these securities . American shaves wore in favour , and goingSup . Great Western of Canada Hliares in demand .
The Cape Town Railway and Dock Company have nt length concluded their arrangements with the colonial government , and have obtained a guarantee of six per cent , for ilfty years . Interest at this rate will also , we arc informed , be paid ujiou the company ' s capital during tho progress of the works .
Mining Intelligence. Wrc Have Nlrcmly St...
MINING INTELLIGENCE . Wrc have nlrcmly stilted that wo deal with mines in doubt . The mining interest is one of the most important interests in tho whole circle of our commercial relations , and yet so much mystification , misrepresentation , and unfair dealing is connected with mining' operations in -what is termed tho mining ninrket , tliat wu fool reluctant to do more , hebdomadly , than to advert ( o alleged transactions and nominal prices ns thoy uomo to us from the ordinary sources of information . Tho moneyed man , if lie determine to try his fortune in mines , ou ^ lit to tulce no Btop on lm own judgment or information tlinl may bo communicated to him ; his only security is l <> rely on tho advice , of respectable and experienced mining brokers , and not entirely on that . We shall nuiko »»
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Citation
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Leader (1850-1860), Aug. 7, 1858, page 786, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/ldr_07081858/page/26/
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