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3Srcv^37, Atotjst 7 > 1858.] THE L E APE...
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COLONIAL" AM-FOREIGN PRODUCE MARKETS.
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REVIEW OF THE WEEK. Mincing Lane, Friday...
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JOSEPH TRAVERS AND SONS' WEEKLY CIUCULAR...
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MOW MARKET AND STOCK EXCHANGE.
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Crnr, Friday Evening. It is very gratify...
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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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Mining Intelligence. Wrc Have Nlrcmly St...
attempt at weeding the mining share list shortly , and when we have satisfied ourselves « f the bondjide character of the mine , we shall place it in our list , and do our "best to assist . the curious public to what may be somewhere about the real value of the shares . A great many mining projects are in abeyance because the moneyed public are presumed not to be sufficiently ripe for a deep dip into their purses , but very shortly we shall find these projects launched in shoals on the market , and then it will be our duty to raise our warning voice , which , " we trust , will not be raised in vain . A mining company , called the North Rhine Copper Company of South Australia , has put forward a prospectus . Of course the projectors assure the public that they have " secured one of the richest deposits of copper ever yet discovered . " To the credulous public we commend the adage , Caveat emptor .
3srcv^37, Atotjst 7 > 1858.] The L E Ape...
3 Srcv ^ 37 , Atotjst 7 > 1858 . ] THE L E APE R 787
Colonial" Am-Foreign Produce Markets.
COLONIAL" AM-FOREIGN PRODUCE MARKETS .
Review Of The Week. Mincing Lane, Friday...
REVIEW OF THE WEEK . Mincing Lane , Friday Evening . The week ' s transactions , although but moderate in the aggregate , still bear evidence of a healthy and progressive trade . A steady home-demand prevails for most of the leading staples , and a temporary restriction of business in some departments recently more * active ^ is chiefly explained by the limited supplies brought on offer— -a circumstance that has contributed to the stability of current values , and which in some measure may serve to show the confidence with which importers look towards the future . In exports , the improvement is as yet only partial , but appearances are more decidedly promising , and the want of animation which still forms a source
of occasional complaint in most markets would seem to arise more from the protracted absence of speculation than from any retrograde movement in hoiiajide trading . Sugar . —The market continues very firm , and all descriptions are again 6 d . to Is . dearer . The supplies brought forward have consisted almost wholly of West India and foreign ' . muscoyadoes , the limited proportion of East India sugars in stock being generally withhe l d for higher prices . The deliveries , although not so large as had been , expected , are satisfactory , and the stocks in warehouse , whilst somewhat increased , contrast less heavily with those of last j-ear . Floating cargoes have met a rather increased demand , both for out-port and continental delivery , and several have changed hands on terms again in the seller ' s favour .
West India . —The sales of the week are 4283 hogsheads , including the auctions , in which low to fine bright Barbadoes sold at 36 s . to 44 s . % ord . to good brown Tobago 35 s . to 37 s . 6 d . ; and yellow 38 s . to 40 s . per . cwt . Mauritius . —10 , 800 bags realised 30 s . Od . to 37 s . Gd . for brown ; and 39 s . Gd . to 43 s . for middling to fine yellow ; grainy , 45 s . to 49 s . 6 d . Foreign . —^ 2000 bags clayed Manilla , 12 s . 8 d . duty , sold at 37 s . ; 1100 hogsheads d' 60 barrels Porto Rico , at 40 s . 6 d . to 47 s . for low to fine yellow , and 37 s . to 38 s .
6 a . for brown ; 190 casks 40 barrels Cuba muscovadoes were chiefly withdrawn above current rates ; 1671 boxes Havannah were chiefly sold , florotts ( 16 s . duty ) at 48 s . to 49 s . 6 d . ; low to fine yellow 41 s . to 46 s . ; brown 38 s . to 40 s . Four floating cargoes Havannah , together 6000 fcoxes , have been taken for the kingdom ; Nos . 11 to 12 at 28 s . to 29 s . full insurances ; Nos . 13 £ to 14 at 45 s ., duty paid ; one of 1500 boxes for Sweden at 31 s . for No . 15 ; one brown Bahia at 25 s , f . p . a . for an outpost , and one white at 29 s . f . p . a . for Trieste .
Melado . ~ 4 . 75 casks Cuba were partly sold at 27 s . to 36 s ., duty 12 s . 8 d . Refined . —Prices are very steadily maintained . Dried goods are rather less in demand generally , but pieces are still in request and tend upwards in price . Crushed sugars for export are held for higher terms . Molasses . —' With a continuous demand , quotations arc again in favour of importers ; West India have sold at 13 s ., 14 s . for St . Kitt ' s up to 16 s . for Antigua . In all about 1500 casks have been placed . Rum . —The dealings are limited to small parcels at about previous rates .
Copfjsic . —The landings have again been heavy , increasing the stock to 10 , 000 tons against 6000 tons last year . The market has a quiet tone , but sales are not pressed , and the demand has been sufficient to take off the limited supplies brought on offer without materially altering current quotations . The sales have comprised 800 casks Plantation Ceylon at 60 s . 6 d . to 65 s . Gd . for fine ord . to low mid ., and C 8 s . to 73 s . for middling to good middling bold colory j 155 half bales Mocha , at 80 s ., for clean garbled small berry , and GOs . for Alexandria kind , besides 1 . 0 casks 550 bags Jamaica at 44 s . to 54 s . for triage nnd ordinary .
Cocoa . —Small transactions are reported at 50 a . to 70 a . for Trinidad . The inquiry ia rather bettor . Tea . —An improved demand , partly speculative , has obtained during the week , and with increased transactions the value of common and medium congous are enhanced Jd . to Id . pcjBfc . ; for the former lOid . is now freely offered , hut luHUcrs generally require lO ^ d . Small public sales of 6756 pkga . passed off with bettor spirit , at full prices for black , but easier rates for green
teas . Of the quantity put up , 2500 pkgs . sold , including 950 small boxes . Slices . —600 bags Zanzibar cloves sold at 3 d . to 3 Id ., being a decline of jd . per 1 b . Pimento is firm ; of 1200 bags in auction , 800 were withdrawn above present rates , at which the residue sold ; middling and good middling 3 jd . to 3 | d . ; 370 bag 3 Jamaica ginger sold steadily at 50 s . to 75 s . for common to middling ; and 95 s . to 141 s . for good middling to good bold white . Of 2388 bags of Sumatra pepper , 700 sold at 4 d . to 4 id . Important public sales are advertised for Wednesday . Rice continues to be purchased for immediate orders only , but as steadily held . The principal dealings are some 3 O 00 bags Bengal , at 8 s . to 10 s . per cwt . ; 2000 bags low Rangoon , at 5 s . 3 d . ; for fine white new Bengal 11 s . 6 d . was refused . The deliveries were tolerably good , and no further addition has been made to the stock .
Sago , 752 cs . good small grain , slightly discoloured , sold at 17 s . per cwt . Saltpetre . —Prices declined Is . to Is . 6 d . in the early part of the week , but subsequently recovered on the announcement of a contract having beenjidvertised by the French Government for 2200 tons , fieFiverable between this and the spring of the ensuing year . The sale aggregate about 9000 bags , and the latest prices were from 38 s . for ll £ to 49 s ., for fine 2 | per cent , refraction . Nitrate of Soda . —A sale of 200 tons fine refracting , 4 sd ., as exported , at 17 s . 6 d . to 18 s . per cwt . CocnixEAL . —The market is firmer , with more limited supplies on offer . Gambier . is again rather dearer- —15 s . 6 d . per cwt .
Drugs . —Castor-oil has advanced 4 d . per lb . ; fair seconds to good pale , 6 d . to 7 * d . ; straw , 5 d . to 5 | d . Other articles meet a fair demand at late rate 3 . Camphor bought in at 60 s . per cwt . Hemp . —A limited business passing at former prices . Jute is less in demand , and quotations barely so firm . Of 3219 bis ., about half sold , at 15 ? . ' 5 s . to 19 / . 12 s . 6 d . for common to , good , assorted . Metals .- —Scotch pig iron advanced to 54 s . 6 d ., but the improvement brought out sellers ^ and prices are now Gd , lower ; the deliveries are very satisfactory . Other metals are without quotable change . Linseed , —The trade is quiet , but prices steady . Bombay seed , 61 s . to 6 Is . 6 d . ; Calcutta , 57 s . to 59 s . ; Black Sea seed , on passage , 59 s .
Oil . —Linseed is offered at 34 s . 3 d . on the spot , and 34 s . 6 d . to 34 s . 9 d . for delivery forward ; Olive is going more freely into consumption , at 43 s . for Mogadore to 46 s . for Gallipoli . For arrival , large supplies are offered on these terms . Palm oil is more saleable at 38 s . for fine ; Sperm slightly dearer ; common fish oil unaltered . Turpentine . —Rough turpentine is purchased at 9 s . 3 d . The large supplies of American spirits are firmly held at 38 s . Gd . per cwt . Safflower is 10 s . dearer ; 133 bales sold , at 5 ? . to 8 ? . 10 s . ; redwood sold at 47 . 5 s . to 4 / . 10 s ., which is also higher .
Cotton . — -There are not free sellers at present rates . Week ' s business , 950 bales ; Suret , 5 § d . to 6 d . for mid . fair to good ; Madras , 4 £ d . for ordinary western , and 5 jd . for good fair Tinnerelly . At Liverpool , the week ' s sales are 69 , 000 bales , prices gd , higher-, and imports 26 , 000 bales . Wool . —The Colonial sales progress actively , at full prices . 14 , 666 hales sold in the current week . Provisions . —From short receipts , butters of all
descriptions are dearer , Carlows , 104 s . to 108 s . ; English , 112 s . to 120 s . ; and Friesland , 114 s . to HCs . per cwt . With increased supplies of English and foreign bacon , prices are Is . to 2 s . lower , and Waterford quoted 68 s . to 70 s . The Government advertise for considerable quantities of navy beef and pork : 7000 tierces 10 , 250 barrels of the foTtner , and 15 , 000 tierces 7700 barrels of the latter , are to be tendered for on the 30 th September . The market is , however , scarcely influenced by the circumstance , so little is passing .
Tallow has met a good demand for consumption , but the purchases have been principally of old Y . C . ut about Od . under current quotations for new , which close to-day at 48 s . Gd . on tho spot , 49 s . buyers for the last three months , and 49 s . 6 d . for spring delivery . Tho public sales have been unimportant . The latest telegram from St . Petersburg quotes , " 156 ro . for August , flat ; 17 , 700 cks . shipped off , and 19 , 000 cks . on wharf . " Market Letter . —Town tallow , 50 s .: fat by ditto , 2 s . 7 d . j melted stuff " , 34 s . 6 d . ; rough , ditto , 20 s . ; greaves ditto , 17 s . ; good dregs ditto , 7 b .
Joseph Travers And Sons' Weekly Ciucular...
JOSEPH TRAVERS AND SONS' WEEKLY CIUCULAR . 19 , St . Swithin ' s-lano . Tea . —The market is very firm , and for tho lower grades of Congou somo improvement in value must be noted . Common has realised lOid . Tho arrival of tho next telegram ia looked for with interest , and in , the mean timo merchants aro very toyncioua , and hold for better offers . Coffee . —TUoro has not been quite so much animation in this market fur tho past week , but prices remain firm for all descriptions . Sugar , —Raw—wo hare again to roport a further
improvement in , the value of this article , an active market having prevailed during the week , and its close showing an advance of Is . on all qualities . We are sorry so often to receive well-founded complaints of the bad turn-out of raw sugars , the result , we believe , of an improper method of drawing the samples in the docks , over which process we have no control whatever . It is with great regret that we see sugars , which , from their superior sweetness , flavour , and colour , deserve the first attention and the best price , gradually losing their place in the opinion of the trade , who find it answer their purpose better to buv from .
samples affording a more correct representation of bulk , and who , therefore , turn their attention more and more to bastards and pieces . We cannot but think , however , that this evil must work its own cure , and believe it will not be long before those who are responsible for it will find out some method by which the samples shall represent their bulk faithfully instead of approximately . Till this change takes place , we must remind our customers that we can only sell to them by the sample we buy from , and that , unless the inferiority is very marked indeed , there is no possibility of obtaining any allowance whatever .
The Refined market has been very quiet during the past week , brown sorts being , perhaps , rather easier to buy . "Pieces relatively dear , and very scarce . Bastards plentiful at former prices . Molasses without change . Fruit , as usual at this period of the year , is in limited request , and the business of the week has been pretty nearly confined to a few purchases of currants for export . The advices from abroad are also of a routine character—large crop ' s , fine quality , and low prices , to be modified , doubtless shortly , when orders for shipment are sufficiently plentiful , by the usual occurrences of bad
weather , growing competition , and increasing firmness on the part of obstinate growers . There can , be , however , but little doubt , that the supplies of both currants and Valencias will be plentiful , although we much doubt if opening prices can be very low . The interests of the large importers of currants are certainly opposed to the arrival of new fruit in our markets at prices which can affect our present stock ; ancl with half a dozen steamers and a cloud of sailing vessels engaged for first cargoes , the growers of Valencias will hardly be more reasonable m their demands than in former seasons .
Spices . —Jamaica ginger , at public sale , met with good competition , the fine sorts realising higher prices . Black pepper is dull , andrather cheaper . Petre is very firm , and Is . dearer . Rice . —No alteration in prices . Meal and low rice is in good demand at firm rates . Fine Java scarce .
Mow Market And Stock Exchange.
MOW MARKET AND STOCK EXCHANGE .
Crnr, Friday Evening. It Is Very Gratify...
Crnr , Friday Evening . It is very gratifying to be able to announce tliat all the information supplied to us from various important channels points to a decided improvement in the condition of trade and commerce , and that , though comparatively few foreign ordeTs have been sent here , there is yet a fair amount of export business doing , and business generally is of a more than usually sound and legitimate character . The home trade is gradually recovering from the paralysis of last year , and autumn is looked forward to with hope and confidence .
But there is still a danger the far-seeing descry at hand . The discovery of rich gold fields in Vancouver ' s Island is a danger which , if we do not take past experience for our guide and monitor , may help to renew that insane and general furor of speculation which took place in 1852-3 , when the Australian discoveries began to work their commercial mischief , and brought upon us that woeful and ruinous reaction which occurred in 1854-5 . We do not share these fears , though we admit they aro by no means unfounded . We look to tho more sober feeling which tho late crisis has per force induced upon Joint-Stock Banks and discount houses . These great monetary establishments will pause bofore they again give facilities to speculation by tho easy discount of manufactured paper and rotten accommodation bills ) . The refusal of discounts , except for
the legitimate purposes of trade , will act as a marvellous check on the speculator . Tho mercantile public also feel confident that tho Bank of England will continue to act on that judicious system inaugurated during the crisis which has tended so largely to purify tho mercantile atmosphere and to replace trndo upon its legitimate basis . Tho hint which tho Bank gave to speculators when it declined to make advances , except incases where there could be no doubt of tho bonh fulc character of tho purposes for which assistance was required , has not been without effect and permanence . It seems to bo generally admitted that it is mainly owing to tho wisu policy adopted by tho Bank that wo arc not at thjs moment immersod in a very whirlpool of speculation . Money is in remarkable ubundaigy ; idle capital is seeking temporary investment , ovCT ^ it nominal rates of interest ; therato of acconimodJPa is unusually low ; fiU theao
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Citation
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Leader (1850-1860), Aug. 7, 1858, page 787, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/ldr_07081858/page/27/
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