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No. 44,0, August 28,1858.] THE LEADER. c...
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BANK OF ENGLAND. An Account, pursuant to...
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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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City, Fiuday Evening. Another Comparativ...
gistance judiciously and promptly extended is likely to neutralise , if it lias 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 li 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 the Bank 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 wbich the Company would be required to concede iu other quarters .
Gold is flowing-into the Bank ; further considerable supplies from Australia are considerably overdue , one vessel haying been no less than 98 d . ivs at sea with 104 , 000 ? ., another 06 days with 134 , 000 * / ., and a third 75 days with 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 , 0007 . 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 57 . per share on East Indian Railway E Extension shares will absorb 875 , 000 / ., minus such proportion as may have been paid up in advance . Mr . T . P . Shaffner , in the New York papers , states that the Emperor of Russia four years back resolved upon the formation 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 atross the Ural Mountains
into Asia , passing through Irkutsk to tlie Sea of Okhotsk , and thence from Kamtschatka across the Sea of Kamtschatka to Cook ' s Inlet , in Russian America . 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 JSIndian , 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 Tiseful . 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-, ivliile France levies 30 per cent , upon many of the products of that country . Formerly Tunis liad 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 Buffer 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 ranging from lOl £ to 105 , the average at which the whole was taken being about 101 13-16 tits . A large tender was sent in by Messrs , Rothschild , hut 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 bo at onco sent into the Bunk of England . Latest . The terms in which the Bank have renewed the loan of one million stock East India Company are 8 £ - per cent , for one year . Tho Bank will continue to make quarterly advances on Govorment stocks and first-class bills under throe months at 8 per cent . The Bank have received between & 0 O , O 00 / . and 400 , 0002 , more of gold within the week .
Mr . Duncan Gibb ' s affairs are to bo woutid up under deed of trust . Latest quotations for Console , 96 } i , money and time .
No. 44,0, August 28,1858.] The Leader. C...
No . 44 , 0 , August 28 , 1858 . ] THE LEADER . co .
Bank Of England. An Account, Pursuant To...
BANK OF ENGLAND . An Account , pursuant to the Act 7 th and 8 tli Victoria cap . 32 , for the week cuding on Wednesday , the 11 th day of August , 1858 . ISSUE DEPARTMENT . £ - ! £ K " otes issued 31 , 420 , 195 : Government debt .. 11 , 015 . 100 Other securities ... 3 , 459 , 900 Gold coin and bullion 16 , 951 , 195 Silver bullion ...... £ 31 , 426 , 195 £ 81 ^ 26 ^ 05 BANKING DEPARTMENT . £ . £ . Proprietors ' capital 14 , 553 , 000 Government spcufcest 3 , 375 , 735 rities ( including Public deposits ( in- Dead Weight Aueluding Exchc- unity ) 10 , 884 , 244 quer . Commission- Other Securities . 15 , 064 f , 472 era of National Notes .- 11 , 063 , 540 Debt , Savings' Gold and Silver Uanks , and Bivi- Coin 703 , 311 dend Accounts ) .. 5 , 452 , 791 Other deposits 13 , f ) 50 , 343 i Seven Day & other j Bills 783 . G 03 37 , 715 , 567 £ ' 37 , 7115 , 567 M . MARSHALL , Chief Cashier . Dated the 26 th day of August , 1858 . The East India Company . ~ A court of proprietors was held on Wednesday , at -which the chairman announced the unanimous resolution of the court of directors granting an annuity of 2000 / . to Sir John Wair 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 baronetcy 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 2 0 O 0 Z . pension was granted .
Wilt , the Atlas tic 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 deepsea 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 at Valentia there are even fewer sources of danger ,. we believe , than at many other place 3 , in consequence of the absence 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 Iulkgrapii Company of Ireland . — Messrs . Chinnock and Galsworthy , auctioneers , offered t £ » public competition , on Thursday , with the approval of the Court of Chancery , the whole of tho line , plant , and materials of this company , which was established in 1853 . The Hue of telegraph 'as originally projected by the company was intended to reach from Dublin to Dounghadce , 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 Newtownwaids , 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 500 / ., and tho reserve prico fixed by the Court of Chancery being much beyond this sum , no sale was effected .
A Hot Wkather Campaign in India . —; Tho following is an extract from a letter dated Bamla , June 27 , from an officer of a cavalry regiment attached to the division of General Whitlock , forming a part of the Central India Army : — "Tho first day -wo were in tents we had six men brought to hospitul insensible from the heat , and one of them died that evening ; he was a fine strong man , quite well in the morning . I buried him in a hastily dug grave under a tree ; tho others , with men of the other regiments to tho number of 27 , were sent back to Banda that night , and this ia the way Englishmen arc being aown all about the country . The 48 rd have loat more than forty men and tlireo officers since they left Mangulore , without hearing a shot fired ; but
the horses prance , the lance flag : waves , and the steel sparkles in the sun , and the bands play as cheerfullv as ever , as the regiments file on their ground in the morning , though they are all getting considerably smaller than the } -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 , followed by heavy rain . The ground is moist this
morning , 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 ( 5 p . m ., and outside , the air has . been so hot that we put our handkerchiefs to our faces and run if we want to go from tent to tent . I am glad to saj' those in authority have had the sense to let us wear white linen jackets , instead of our cl « th ones , which were unbearable . "
Loss of A Screw Steamer . —On Tuesday afternoon the War Eagle steamer landed at West Hartlepool the master and entire crew of the screw steamer Times , who reported the total loss of that vessel off the Yorkshire coast . The Times , of London , Jame 3 Jleaser master , from Harlingen for Newcastle , with a cargo of cheese and a deck-load of cattle , was on the 22 nd on the coast , Huntcliffe Rock about thirty miles distant W . S . W ., when , about 1 . 30 r . M ., the engine-shaft suddenly broke , the sternpost gave way , and with it an extensive breach was made through the whole of the afterpartof the ship . The captain and crew stuck to the vessel as long as
there 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 Clown , of Aberdnre ; but , off Runswick , intending to land , they again took to their boats at twelve o ' clock on the noon of Tuesday- They had not , however , 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 tlieir boats , and - were safely towed , as reported , into the West Harbour . Of the captain ' s instruments , books , clothes , & c , valued at about 120 ? ., only a comparatively small portion has been saved .
New Paviuost Theatjrb , WiiiTECHAp £ L .--Thi 3 new structure is now rapidly advancing towards completion , from the designs of Mr . G H . Simrnonds , and in its construction great care is being evinced that the new house shall combine great strength , durability , and convenience , its Avails 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 the pit and 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 bouse is planned to seat comfortably an audience of 3500 persons , and the whole of the works are intended to be completed by the 30 th of September next . ¦ -. ¦ ¦ ••
Lord ' s Day , not Sabbath . —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 cull the Loxd ' s Day by the Jewish name Sabbath , and when it first became the practice?—Notes 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 Judtustic forms of speech . ] A New English Dictionary . — -A new dictionary is to be 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 wrile 3 to the Times that he has received three letters from Captain M'Clintock , by which wo find that in the course of tlio last season he was unable to get into the north watur , and passed the winter in tho pack , lie has now recruited at Disco , and , undaunted by this failure , lias proceeded again in search of the missing expedition . Ministerial , Appointment . —The vacant coinmissionership of inland revenue has been given to Mr , James Disraeli , brother to tho Chancellor of the 3 Cxcheqtter . Mr . James Disraeli , for the last six yearn , has filled the post of treasurer of the Derbyshire County Court districts .
Slavery is * America . — Tho Memphid Eagle furnishes a striking commentary on tho Immunity of tho " peculiar institution . " A negro man belonging to Mr . Starkc , near Memphis , ran awuy and was caught . The overseer , W . S . Montgomery , had the fugitive tlud over a barrel , and gave him flvo ' liiindred lashes in all . The negro was whipped each day for ten days , and in tlireo weeks from tho first abuse the victim of human slavery died , tho lacerated flesh of his back having mortified . The murderer was permitted to eaonpe .
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Citation
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Leader (1850-1860), Aug. 28, 1858, page 885, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/ldr_28081858/page/29/
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