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Leader (1850-1860), 9th April 1859, Edition 1 of 2, Page 475, Untitled Article

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      Untitled Article

      thority , is to be £ 12 , 000 , 000 , issued at 69 for 3 per cent As the payments are spread over , eight months , while the interest begins from the sub-Stion , the 69 will be equivalent to 68 . Not . more tha £ £ 4 , 000 , 000 of the loan will be reserved ^ for the EneUsh market , and that amount will probably find a ready sale here , though it is not offered on terms more favourable than the terais ^ at which other Russian stocks ean be obtained m the market . The credit of Russia , however , is good , and unless some very untoward event should arise , it is likely to be Dlaced without difficulty . The attention of the mbnied world is at the same

      time directed very closely to the Indian loan , the Act authorising which is announced to receive the royal assent immediately . ' -, ,. -, + Private letters in town from Melbourne do not represent the affairs of the colony of Victoria iirquite so favourable a light as the public accounts . There had been a large influx of immigrants , and a considerable number of people were in want of employment The finances of the Govemment were , at the same time , not in a favourable condition , and complaints were again heard of the misappropriation of

      the land , . ., , ' u A new phase of society , similar to a very old phase of society in Europe , is now manifesting itself in the colonies . Strikes have become common in New York , and other towns somewhat crowded with a manufacturing population . Strike meetings of furniture carvers , cap makers , and varnishers have been held in New York . The first named have succeeded in getting an advance of wages , and the others have the same objects in-view . The White Star lias arrived from Melbourne , bringing £ 130 , 000 in gold ; but , at the same time , it is announced that gold in siiiall amounts is continually removed from the Bank .

      The law passed a few years back , when there were very exaggerated stories rife in the land about an epizootic on the continent , is now found to act very injuriously . At a time when meat is very dear , it keeps wholesome food and healthy cattle out of the market ' . Lately 104 head imported were not allowed to be landed because the Custom Inspector was of opinion that they were diseased . Other authorities decided differently , but the cattle were

      sent back to Holland where they were pronounced healthy , causing , no doubt , a considerable loss to the shippers ^ This law is one of many modern enactments , passed at the instigation of half scientific men , and for . which the Parliament , and the impulsive people who have hastily demanded them , are alike responsible . The deliberative assembly , however , which ought not to yield to panic terms or foolish theories , is more to blame for thorn than the deluded people .

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      2 , 000 , 0007 . ih the amount of tjxolioquor bonds , dated 8 th of May 1804 , and rodeonml > lo at par on the 8 th of May , 18 . 1 U , issued per Act 17 th of Victoria , CCtT ) ' 2 <) ' Tlioro -wns a tovriblo riot among tho Iriah near Baltimore , on St . Patriolc ' s Day , in which weapons of various kinds woro freely , used , and 10 Q persons wore Injured , somo of whom have died . Tho lighting lasted three hours , and was as bloody as somo skirmishes that havo respectable places in history .

      Untitled Article

      REVIEW OF THE WEEK . Friday Evening , The markets are without any material alteration ; Corn is dull of sale , and the price rather flat All the Mincing-lane markets are firm without much activity . . In confirmation of what we have stated in two successive weeks , of wheat going to the United States , we copy the following froin the New York Courier and Inquirer : —

      "The latest quotations for wheat in London show the price of breadstuffs to be absolutely lower in the English market by some 15 cents , per bushel than in the United States . The truth is that the country is suffering- grievously from a nearly general failure of our provision crops for three or four successive years . Indian corn and oats were almost ruined last year by drought , and the wheat by blast . The same thing has happened three times since 1853 , with the additional calamity that potatoes and roots generally have failed from drought every season since 1853 bufc that of 1858 . No period of undoubted and

      admitted prosperity can be looked for throughout the . United States until after at least two favourable seasons for cereals and roots . The condition of the country in this respect is the same as in 1837-38 , when a foreign Hebrew banking-house wrote , with only rational prudence , that they did not care for investments in an agricultural country which , imported its food . There . can be no permanent improvement until we are relieved from dependence on foreign manufactures , or are enabled by a welldirected industry to extract from the earth , the means to pay for what we buy of them . "

      We have to note nothing of a particular character . As a matter of course , the dissolution has interfered with business , but a good trade has , nevertheless , been done , and at fair prices . The unusual and unseasonable fine weather lias causfed a good deal of attention to be directed to the crops and to horticultural produce . If we have a continuance of fine weather , with a due proportion of rain , and no nipping frosts , like those we had last week , we may reckon on another season of abundance and cheapness . Co : r >\— -Business has been quiet during the week ; The home and foreign supplies were not large . Wheat and flour steady at the late ratio . Oats , not much in demand . Fine barley keep 3 up its price . Beans and peas . in limited request . .

      The following is a comparative statement of the prices of raw cotton , wheat , and the rates of discount , ' & « ., in March , 1849 and 1859 : — Mar ., 1810 . Mar ., 1 S . > 9 . Cotton , Upland bowed , fair per lb . 4 $ .. 7 . fl-KJths . Ditto „ prood fair „ .. G .. 7 7-10 ths Ditto , Pernambuco , fiuV „ .. 58 .. S 7-10 ths . Ditto „ eood fair „ .. r > J .. £ §¦ Average prices of . wheat per qr .. 4 fi / 8 .. 4 O / 0 Hates of discount for unexceptionable Hills 3 .. 2 J Av . circulation of tho Bank of England in millions of pounds .. 18 J .. ' -il £ Av . amount of liulllon in the Bank In millions of pounds lfij 10 J

      Hides and Leather . —The markets are comparatively inactive . Sugar . —The market retains its improved tone . Almost all descriptions find a readier sale at full prices , aiid . in crystallised a further small advance is established . Mauritius . —By auction crystallised was disposed of at vory firm prices '; middling and good middling yellow ( duty 13 s . lOd . ) at 43 s . fid . to 44 a . Gd . ; low to good white ( duty 16 s . ) at 47 s . to 49 s . BjENOAU- ^ -Cossiporo , fine yellow ( duty 13 s , 10 d . ) , at 48 s . ; sirups , 45 a , 6 d . ; tho remainder , ordinary brown , date at 30 a . Cd . to 31 s . Cd .

      FonuiCN . —Further public sales of clayed Manilla , to the extent of 18 , 013 bags , wore brought forward , of which about 11 , 000 bage went off freely at firm prices ; low middling damp to good dry , 38 s . to 40 s . j 1 , 192 boxes Havanna sold at about previous rates ; low to good groyish yellow , fair quality , 40 s . Od . to 44 s . Gd . ; ono lot , fine crystallised groy , 4 ps , Od . llEjrmjjD . —Tho market aontinuos unvaried , and no increaso of activity can bo roportod . CoFi ' icm . —Finn prices are obtuinotl for the small lots required , but tho market generally is Inaotive .

      Cocoa . — Common quantities nra only saleable on moderate terms ; Dominica at auction fetchod 40 s . to 42 s . i 51 baga Trinidad bought in at 44 s . to 40 s . ; and 29 bags Gronada withdrawn , , Tka . — There has not been any business of irh-Sortanca to report , yot tho markofc isflrni . Common longou , 13 f £ d . per pound . Rum . —Offers of about tho former prices nromado for Demerarn , and fifty puncheons have boon sold

      at 2 s . } also seventy-puncheons common pale , Leeward Island , at is ^ 7 d . to Is . 7 Jd ., proof . Rice . —Bengal , middling to good middling white ,. 9 s . 3 d . to 10 s . Sago has gone off more freely , especially for the better qualities , whicb are rather dearer ; fair to good bright small pearl , 19 s . to 21 s . ; dull , 18 s . to 19 s . 6 d . ; large , 18 s . 6 d . to 19 s . per cwt . Arrowroot realises the previous quotations ; . St . Vincent , 3 d . to 3 fd . ; Jamaica , 6 d . ; Natal 4 dper lb . Pepper . —The market is dull , at previous quotations . Penang , principally damaged , first class , 3 £ d . 3 £ d . ; sound 3 £ d . White pepper—of 355 bags from Singapore fifty bags good found buyers at 8 d . to 8 £ d . ; the remainder inferior quality bought in at 7 fd . to 7 fd .

      PiaiEjrro is only saleable at rather lower prices ? good ordinary to middling , 3 d . to 3 Jd . ; good middling 3 ^ d . per lb : Ginger .-: —Ordinary to middling , 76 s . to 91 s . ; good middling to rather bold , 104 s . to 130 s . . Mace . —Low middling Singapore sold at Is . 2 d . Nutmegs . —Singapore sold steadily , middling Is .. lOd . to Is . lid . ; small Is . 6 d . perlb . Fruit . —The market remains unaltered , thedemands at the previous prices being steady but limited . Currants , a few lots sold at 32 s . to 34 s . j Valencia Raisins , chiefly withdrawn , part sold at 35 s ., damaged 28 s . 365 cases Eleme , bought iri at 60 s ., and 437 bags black , at 26 s . Bombav Dates ,. 18 s . . ¦ ¦¦• ¦ ¦ ¦'¦ ' ¦¦ Valencia Almonds , withdrawn 50 boxes ; Jordan ,. 61 . lOs . per cwt .

      The annexed remarks are extracted from Messrs . Richard Witherby and Son ' s circular : —The stock of currants in London on the 31 st March consisted ,, according to dock and wharf returns , of 300 butts , 7 , 208 carrotells , 59 , 489 barrels , 13 , 968 cases , 2 , 050 pipes , and 1 , 045 half pipes , or 10 , 200 tons against 12 , 500 tons on the 31 st December , 1858 ,: and 5 , 500 ' on the 31 st March 1858 . The currant market has of course partaken of the general inaction which has so long prevailed in most articles . The extremely low prices of . good old fruit , have much interfered with the sale of new , which are now in some description 8 s . to 12 s . per cwt . lower than at the opening of the season .

      Raisins . —As arrivals seem to have ceased wehave now only to watch the clearances . Those of March , in London , were , for consumption 4 S 0 tons against 530 tons in March- * 1 S 58 , and 270 in JUarcb , 1857 ; and for export 358 tons , 57 of which , to the United States , 85 to colonies , 200 to the contiuent , and 16 coastwise , making the total March clearances 838 tons . SAtErETRE . —Bengal sold for arrival at 38 s . Cottos . ' . —The market remains inactive . Jute . —Undesirable qualities went at a decline-£ l per ton . . Hemp .- —A lot or two of third class damaged , sold at , £ 20 5 s . ; 64 bales white realised . £ 37 10 s , per ton ~ Coir goods , sound , £ 24 5 s . to £ 24 10 s . ; Ceylon fibre ,. £ 27 to ^ . ' 31 ; Madras , . £ 23 10 a . to £ 24 . Indigo . —Guatemala , 3 s . 8 d , to 5 s .

      lid-Cochineal . —Teneriffe silver , 3 s . 6 d . to 3 s . 10 J . ; black , 4 s . ; three bags Maderia , 3 s . 4 d . to 4 s . ; thirtynine bags Honduras silver , 3 s . 3 d . to 3 s . lOd . Tallow . —Tho market for Y . C . is steady at 53 s . 3 d . on the spot ; 53 s . to 53 s . 3 d ,. April to Jutier and at . ) 3 s . 9 d . for tho last three months' delivery . Linseed Oii « t— -The market is steady at £ 29 . Oil . —Rape continues quiet at £ 42 10 s . for foreign refined , and at £ 39 for brown . Palm and cocoa-nut remain at previous rates without piuch business doing . Linsekd . —The market is quiet at , 52 s . to 52 s . 6 d ; for Bombay , and at 49 s . to 50 s . for Calcutta . Rax'eseeij attraots little attention at 57 s . to 58 s . for Bombay Guzorat , and at 49 s . for flno sound Calcutta .

      Tuhim : xti > 'k . —Spirits are only in limitod demand at 43 s , for American , and at 42 s . for English . Spelter . —Few inquiries are mado , and tho market may bo , reported quiet . Tits ' .- — About 000 slabs Banca have been rocontly sold at £ 135 . ¦ Scotch Pxa Iron lias decllnod to 52 fl . The « 1 >» Pmonts last week wove 5 , 280 tons foreign , ana 8 , 051 coastwise ; together , 13 , 331 tons , ngainst 15 , 300 tons in tho corresponding week of last year .

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      No . 472 , April 9 , 1 B 59 . 1 THE LEADER . 4 ? 5

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      HA ^ K . OF ENGLAND . ' An Account , pursuant to the Act 7 tli and Sth Victoria , cap . 32 , for thu weok ending ou Wednesday , the Otli any of April , 183 'J : — ISSUE DEPARTMENT . Notes Issued £ ¦!¦> , 7 UVi ' JO Government Debt £ 11 , 015 , 100 Other Securities .. 3 , 4 ;> i > , yoo 'JoldCoin&Hullion 18 , 271 , ' - ' 30 Silver Bullion .... . C'l »' , 7 ia , - - > 3 ( i £ 3 * , 700 , ' . i 30 HAHKlsa l > EPAnTME 7 JT . Proprietors' Canl- Grovcrnmont Seaatal . < .-ei 4 , « . VJ , ooo ritica ( including Rest : t , iol ,: jtii l ) ciul ^ ola ht . rublio DopoHltH ( in Annuity ) tl 1 ' ' ? 2 2 . Oludinti' Kxcho- Other ScourltJos ,. 3 ? , / l / , 71 . 1 qiiov , SavinffH' Notes U , tf 54 , 0 ? u ¦ Banks , Oomints- Gold and Silver sionore of Nn- Coin WW-IS tional Dubt ; and Dividend Accounts ; f ) , O » 0 , O < H Other DqpoHltH .... l ! f , iwo , 738 Seven vay anil Other JMllH 784 , fi ( ll _^ £ ti ^ 0 Mlm £ 41 , 880 , 330 itf . MARSHALL , Chief CuBhicr . Dated April 7 . law .

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      At a meeting of the governor , directors , and proprietors of tlio Bunk of England , hold on Tuesday , Mr , Bonamy Pobroo was elected Governor , and Mr . Alfred Lat , hiin , of tho firm of Arbuthnot , Latham , and Co ., merchants , of St . Helen ' s-passage , Deputy-Governor , for the onsuing year . Fhkiq TitA . r > K ik Fjunob ,- —In spite of tho violent assaults of tho protectionists and tho opposition of tho Senate , froG-trado appears to havo obtained another respite The Echo Agricole announces that tha Council of Stato has torminntod its examination of tho corn laws . Another journal stat ' os that no now law will bo brought forward this year , ami that the regimo of froo-trado established by tho dooreo of Octobov , 1868 , and which is tho continuation of that which has oxistod sinco 1863 , will remain in force until tho 30 th Soptombevnoxt ., Atthatporiod tho government will talco the subject again into consideration , and tho result of the next harvest and tlio state of prices will influence tho resolutions whioh it will coma to .

      Untitled Article

      HOME , COLONIAL , AND FOREIGN PRODTTCE MABKETS .

  • Citation
    • Leader (1850-1860), April 9, 1859, page 475, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2289/page/27/