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other things .-. The disci pies of M . Chevalier wil find in this fact nti argument for the depreciation o gold , but it is entirely tlio consequence 01 tlie . act ot the Government ; ... 4 . 1 « . A fortnight a <* o we directed attention to the attempt . no \ v making -by the Great Western Hail way . Company to raise their fares . Yesterday the . limes referred to the subject and gave this additional expI « The bHl is entitled « A bill for authorising the construction of a railway for carrying the West London Railway over the Great Western Railway , by means of a bridge , in substitution fpr the present level crossing ; for revising the tolls of the Great Western Railway Company , and for other purposes ; ' and it was in this manner , by putting forth the change of a crossing into a . bridge as the prominent object , that it was hoped to gain the means to tax to an almost indefinite degree the entire traffic oft ho west of England . A more unworthy contrivance has perhaps hardly been recorded in the annals of a respectable English company and it has awakened , as it deserves , active hostility and reprobation . At a meeting of the wholesale houses of London , on the 18 th inst ., a series of resolutions , were passed for a strenuous opposition , and a committee was appointed to take the necessary steps . In a statement of the case ¦ sub-*^_
mitted by Mr . Robert Slater , pf the firm of . Morrison , Dillon , and Co ., it is pointed out that the existing tolls of the Company -were actually proposed by themselves , in order to obtain from Parliament the powe r of trenching upon ground already occupied by'the London and North Western line ; and , this power having been secured , the aim now is , not only to repeal the conditions , but to make the public pay —as was always predicted would be the case—for the ruin the Company have brought upon their own heads by misapplications of capital for reckless extensions , unjustifiable competition , and extravagant expenditure" . . ¦¦¦ - __ ¦
, . , The debate-in the House of Lords yesterday , on limited liability , illustrates the erroneous conduct of the Legislature in dealing with this question , rather than the incorrectness of the principle . There cannot be a doubt about the propriety of leaving every man at liberty to decide for himself the extent of the obligations he will e nter into , or limit his liability as a memberof a'Company , ' as well as in other capacities . That the Legislature , in deciding how a man shall act in contracting this of such contracts
liability , settling all the conditions before they can possibly be known , lias done extremely wrong , we can readily admit ; -and while Lord Overstone may . be right in opposing our legislation on the subject , he is hopelessly wrong in condemning the great principle pf limited liability . His lordship fails in this instance , as in others , to distinguish the errors of the august assembly of which he is now a memter , and the principles of trade with which he was formerly more familiar than with legislation .
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GENERAL TEADE REPQRT . London , Friday EvcMiihg . T 1113 extraordinary feature in our trade transactions this week is the exportation of wheat from Liverpool , and avg believe from some ports of France , to the United States and Canada . Trade has taken such a course be&re . The Americans sold more than they could well spare , and wore obliged to buy some back , By the last American papers arrived , we learn that in some parts of Western Canada there was much distress for mint of food , and in parts of the United States food is much wanted . A liope is expressed that the American 'Government will allow the re-impovtation of vlieafc and flour without tlio
payment of duty ; but that Government is so much in want of money , that vo are afraid this hope will bo disappointed . Wo sec , however ^ that its customs reyenuo is rapidly inerensing . Till next lmrvost it is probable that the flow of . grain will be not from , but to , tho American continont . Tho coffcio market has assumed a very firm , character ; fuygoort oortsof coffee tho demand is grout , and it js oxpcctodtliat tho price of coil . ee at . tho upproaohing sales in Holland will be high , The tea market , too , is vory firm . A much greater quantity Ijns boon sold lately than has arrivod ; which is tantamount to an inroad on our stock , and shows a dcmi-iral superior to tho supply .
The corn markot is also firm , and tilings look gonerally more cheerful than for some time past . As tho improvement accompanies tho report of n Congress to assemble , it will , by some persons , bo attributed to this circumstance , l ) ut It is < rathov tho consequence ot consumption Juxving overtaken tho supply , than of any political action . At tho samp tlmg tlio . political disputes have intorjtbrroil with trade , and proventod tho improvement from innnjfestina Itself at uu eurllor period . Tho details of tlio soveral markets follow . Tho general trade of the manufacturing districts has shown an improvement this wook . Tho war manifestations have not boon cj , ulto so alarming , and
the prospect of the Congress of the Groat Towers o < . Europe has given confidence to exporting , merchants , the result of which is shown , in a considerable issue of orders for the Continental markets .-Livkrpool . —The last advices from New Yovk report a faliin ™ - oil in the cotton receipts ,, and as this is interpreted to moan a short supply of tho raw material , the holders in Liverpool have taken tlio hint , ami liayo established an advance of about £ d . pur lb . Tins has tended to repress sales ; but latterly ,-. manufacturer . * awl speculators have bought freely . Continental orders
Manchester . — Last week the were very limited . But this week , the merchants'appear to be in better heart , and the result is , that German and Italian-customers have made their appearance , aMd have given out orders pretty freely . Prom this circumstance , spinners have regained that firmness which they partially lost last week ; and have refused to submit to lower prices . The last telegram from Bombay shows that the markets , are overstocked , or , if not overstocked , that the late financial operations in India have so alarmed capitalists that they have reduced their business m every direction . This determination has cheeked that buoyancy in the Indian markets , Which lias proved suchaboanto our manufacturers . Tor yarns , for the German markets , there has been a good demand . The home trade has also been active . Altogether , a disposition to do business for the Continental " markets more freely has been evinced .
Leeds . —The attendance in hall has been generally good . The improvement in business appeared to be general . Prices , however , exhibited no material variation . The warehouse trade is not very good , and buyers have only made limited purchases . We believe the clothiers are busily occupied at this time ; so much so , that in some districts there 13 a positive scarcity ot hands . Leicester . —The demand for worsted goods , as might be expected > is pretty near a close , but still makers are well employed in preparing cotton goods for the season . The operatives have been fully employed , and m some instances , at advanced wiiges . NoTTis-ftHAM . —The lace trade , hitherto so slack , has been brisker , particularly in plain goods . We are sorry to have to notice several failures , whjch have tended to shake confidence . The general feeling in the trade is , that trade is improving . Operatives appear to be fully employed . ¦
HtrDOERSFiEr . D . —A fair attendance of buyers from Glasgow and London houses took place this - . week . Light goods , mixtures , and other gooda for the summer trade found a full demand . Bradeoiu ) . —The wool trade is quiet . For brighthaired sorts there is a demand at easier prices ., Tne Continental buvers do not make their appearance in our markets . The * advices from Halifax , lloehdale , and other districts , are similar in character . The Ikon Tha . de . —There is a fair trade doing in hardware goods . The iron districts in . 'Staffordshire and Wales are well employed on railway orders . We regret to have to notice the increase of . strikes . The cotton districts are threatened with this piece of folly ,-but we hope the operatives will have good sense enough arid feeling enough for their families to resist the suggestions of the desi o > nin" \ We hope the operatives of Padiliain will not listen to the foolish representations of the clique calling itself " The East Lancashire Amalgamated Association , "
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The Sugah Markets have shown an upward tendency , but the advance lias , not been so well mniutairied as at the beginning of the week . Coffef ,. — The inquiry is steady . . Holders ,, however , insist on their prices , and this restricts business . Borne sales oi'Cuylon and Plantation have been effected at the prices of l ast week , Cocoa . —A small business only was done In this article . Tea . — The public sales finished on Wodnosuay ; prices wore with difficulty supported . Common C 011-rou , in tlie private contract market , sold at 13 id . cash . The exports from London for the week ending tlio 17 th March are reported to bo 80 , 778 lbs . Rum . — A fair business wns done nt old prices , Leeward Island , common , Is . 7 d . j fair , JDeinvrara , 2 s . Id ., 2 s . 2 d ., 2 a . 3 d . proof .
Riok . —There has been no transaction of importance to report . PiiPi'im . —At thopublic sales , Penang wontofTsteadil y nt Oftd . ; Singapore , 4 / , d . J firstreliiss . dnmngod , 4 d . Will to Pupper . —Ponnhg :, 7 j } d . toStl . ; fcjlngapom , 7 Jd . IuGinukk , Ma ' ck , Ci . ovks , CrxNAMoy , there Is no variation . Nxttmkoh nre about Id . lower . Sai / I'pjotris . —Tho business done was limited . Vine Crystal , (>'} per . cunt ., realised 41 s . Juth . —A , rcduojfcion of about 20 * . to SO .-i . pur ; ton Is roportml in some instances . ilKMi » . —l- 'ine Manilla with dffllculty fotcJiod 37 / . fla . por ton , QlLH . —Rape , without activity . Tn Olive , a largo business was done nt rather lower prices . Palm , steady at 4 ' tl . Cocoa Nut has oxnorfttnauil a hotter demand j Ceylon , ill . ; CoohJ . n , 43 ^ . j Lluuoml , market flat and tendency towards lower prices .
Coiin . —Tho supply of both English and Foreign whont was limited ; no variation oooun'oU In prlci ' s wortli noticing 1 . Flour steady ; Oats quiet ) Malting llarloy , Hum , mill Poas and Buuuu dull at last week's vaUa .
Til-K SCOTTISH PllOVIDKNT 1 X 3 TITUTIOX . The twenty-first annual meeting of , tho contributors to . this . Society- was held on tlie IGth of iVocuai-y . John Hunter , Esq ., Auditor ofthe Court of Sessions , in the chair . ¦ The Chairman , after adverting to the -cVtails of the the . year ' s business , said . — "It was stated to you at last annual meeting that a careful and tni ' mite investigation had been made into the whole of the securities on which the funds of the institution have been from time to . time invested , and that the result had been in the highest degree satisfactory . There is no department of the administration of the
society ' s affairs that is more important than . tins . $ and , without recurring to the details given by . Mr . Binny last year , I shall merely , as having had tlie honour to act as chairman of the Loan Committee during the past year , add my assurances to his , that all your funds are safely and surely invested , that no greater care or caution could have been exercised than has hitherto been shown in the selection and examination of the investments , and that we are all of us fully and continually alive to the importance , or rather absolute necessity , of avoiding the slightest relaxation of diligence in this fundamental department of our duties . "
The Directors' Report stated that 562 new policies had been opened in the year , assuring 269 , 610 / . The claims by death—63 in number—amounted to 39 , 910 / . 13 s . Tlie gross amount of premiums received in 1858 was 94 , 1 ' Tlie income of the Society at 31 st of December last was 112 , 990 * . The realised fund arising from accumulated premiums was 562 , 559 / . Mr . E imund Baxter , W . S ., in submitting the Report , referred to the position ofthe-Society on the completion of its 21 st year . Comparing this with the t \ rb leading institutions—the London Equitable and the Scottish Widow ' s I ' uiid—he showed that , at the corresponding period of their attaining their majority , these great offices had—the former only 720 , 000 / ., and the latter " u pwards of two millions " of assurances ; while the subsisting assurances in the Scottish' : ' Provident exceeded three millions and
a quarter . Mr . Baxter then , addressed the meeting on the distinctive principles of the Institution—as , premiiims on tlie lowest scale consistent with perfect safety to insurers , and reservation of surplus for those by whose continued contributions it has been created , members being at once secured in -the'full sum to which- their pi-enmims are commensurategenerally from a fifth to a . fourth more than in other participating offices— while their interest in the profits is preserved . These , however ,- are not given to the contributor , who dies early , to the loss-of the society , but become available to a member whenever surplus arises on his individual assurance . Tlio report was , on the motion of Thomas Stevenson , Esq . ., civil engineer , unanimously approved of : and the management was constituted for the ensuing
year . Full reports of the meeting , containing statement of the principles of the society , forms of proposal , and every information , may be had at the Head Office , or at the London Branch , 06 , G ' racechurcliT street . Jam us Watson , Manager ; j . Muir Leitch , London Agent and Secretary ,
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Tjib -Liv ^ upooi . Bououoh Bank . —A private meeting of the shareholders was held at the offices of tho Bank ,, in Water-street , on Monday , ' to receive a report from some of tho shareholders who had succeeded in obtaining an order from the Master of tlio Rolls for--an inspection of the bopks nnd accounts of the bank by a professional accountant . It was also resolved that Mr . Dickson , of Edinburgh , who has been engaged in winding up the affairs' of tho Western Bank of Scotland , should bo . appointed accountant , and that another mooting of tho shareholders should , bo called to reccivo his report , and then to decido upon taking any furtllur steps which may bo deemocl necessary . Jnincs
Mamupactrims in ' tub llunuwK * . —Sir Matheson is about to erect o . Ntunsivo chemical works for tlw manufacture of puralRno , &c , from peat hioss , at Gnrrnbost , ncnr the town of Stornoway . Expenmonts , have'been already nuwjo with , a satisfactory result . The Now York ZY » w * sneiiksoi : nn item of sucrot history never before divulged . " Proaiilont JofllTson a gunbont navy , which was tho subject of much ridicule , was ostensibly built for tlio protection of , our Boa-const ; 180 of those bunts were sent southward , These boats were built for tho apodal purpose ot taking possession of Culm , but bo'foro the plans ot Mr ' . JofRirson wore porfeoted relations with England became threatening , and the project was postponed and nevor afterwards revlvod . " ' _ _
Tina T « KATV ov Tn 9 N-Siwa ' . ~ It ia stated that the IVonoli Government have rocoivod intimation ft'orn China that tho Emperor rofusos to ratify thftt clauso of tho Treaty of Tioa-SIng which refers to facilities for tlio extension of tl » o opium trade .
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HOME , COLONIAL AND F 0 EEIGN PRODUCE MARKETS .
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i * n 470 March 26 1859 . 1 -THE LEADER . ' : ' . ¦ . ' ¦ ¦ ' " ¦"¦ ¦ '"¦ . ¦ 411 ¦ . — -... ^ > , * .-. * ' ¦* ^^» - ?* - * H ^ jJmi * .- * S ^ J ^* ^ °£ Z *~ m * i i -iC- ¦ .. "* " rr ~— ' e ¦ — ¦ ¦ i i - - . . . ¦ -. ' ¦
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Leader (1850-1860), March 26, 1859, page 411, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2287/page/27/
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