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Leader (1850-1860), 14th May 1859, Edition 1 of 2, Page 627, Untitled Article

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      Untitled Article

      The arrivals of all grain , English and foreign , this week have been good . • The com market was tolerably well attended this morning , and the English wheat lef t over from Monday was disposed of at Is . to 2 s . a quarter above the offers made for it on that day ; some sales of foreign were also effected at an improvement of Is . to 2 s . per quarter , according to quality . Barley sells- slowly , at late rates . Beans and peas are unaltered in value . With a good supply of oats , the trade is heavy , and Monday ' s prices are barely supported . Norfolk flour is held for rather more money .

      The Liverpool , cotton market continues quiet , the sales to-day being only 6 , 000 bales , including 500 on speculation and for export , at easier rates . The business in sugar is confined to 1 , 100 mats unclayed Manilla at 32 s . per cwt . The foreign and colonial 'produce markets today have shown rather more steadiness . In foreign sugars , however , a further decline of Is . market market

      npr owH has taken r > lace . and the refined per cwt . has taken place , and the refined has been dull . Coffee brought about former rates , and teas were exceedingly dull . Bice and spices have shown little variation , and the public sales of indigo have closed at an average decline of about 6 s . to Is . per lb . on the rates realised at the last sale . Saltpetre ' has-been at easier rates , and tallow is dull . P . Y . C . on the spot is quoted 55 s . 6 d ., and last three months 56 s . r > er cwt . ;

      Tea . —The market remains with a very dull and heavy appearance . Common Congou is nominally quoted 13 fd . to 14 d . Large sales are reported to take place to-morrow . Sugar . —Rather more business was transacted to-day , tut prices in some instances . were rjither lower . 1 , 344 boxes Havahnah sold ; brown sorts declined Is . compared with last week ; mid . to fine dry strong yellow 42 s . to 45 s ., low and mid . yellow 40 s . to 41 s . 6 d ., brown , low foxy to good soft 34 s . 6 d , to 38 s . and good dry brown 38 s . 6 d . to 39 s . 6 d . 300 bags good brown Mauritius sold at 38 s . 6 d . per cwt , and about 3 , 000 bags mid . brown Manilla sold privately at 36 s , 3 d . per cwt . 412 casks West India sold at former rates . The refined market was dull , brown samples 52 s . per cwt . Coffee . —Business was exceedingly dull , only a few lots of second-hand Plantation Ceylon having been sold at previous quotations . Bice . —The market was quiet ; 532 bags damaged Rangoon sold at 6 s . 6 d . to 7 s ., being rather cheaper Saxtpktke . —A moderate amount of business was reported , bnjt prices tended downwards . 172 bags partly sold , low mid . color 13 Jlbs . 43 s . 6 d ., and mid . 6 lbs . 46 s . Gd . to 47 s . per cwt . Tallow , — -The market was very inactive . P . Y . C . on the spot 55 s . ' 6 d ., and last three months 56 s . per cwt . sellers .

      Indigo . —The quarterly sale Of 11 , 654 chests was brought to a close yesterday ; there was no change in biddings , and out of the whole offered 9 , 461 were , withdrawn / and 895 bought in , leaving 1 , 308 sold ; also about 200 more out of the bought-in lots , of which 800 are for the trade and re-sale , and 700 for export . Prices for Bengal are 8 d . to Is ., Oude , 6 d . to 10 d ., Kurpah 6 d . to 9 d ., Madras par to 3 d . under last sale . Drugs , &c . —About 800 bales Turkey Arabic sold at private contract at 82 s . to 33 s . ; Gum Olibanum at sajo sold at fully 10 s . lower prices . Good Turkey Opium 218 . to 21 s . 6 d ,, 3 d . lower . Pino Castor Oil full up } other kinds £ d . lower . Oil Anniseed 9 s . China Rhubarb steady .

      Tartaric Acid . —About 25 tons sold on Thursday at Is . 8 d ., and now Is , 8 Jd . per lb . asked . He » ii ' . —Market dull ; 22 tons Petersburg clean sold , £ 30 to £ 30 5 s . 60 bales Bombay taken in at £ 20 . 273 bales Italian out , £ 30 . 25 bales Mexican fibre out , £ 30 per ton . Spelter firmer s 25 tons sold at £ 19 7 s . Gd ., and 75 tons WH plates , May , June , and . July , at £ 20 2 s . Gd . to £ 20 7 s . Gd . Scotch pig iron , 49 s . Gd Oils . —Linseed firmer , and a good business clone j spot , 29 s . to 29 s . 3 d . ; Hull , 28 s . to 28 s . 3 d . ; Rape , dull j . fine Cochin Cocoa nut sold yesterday at 43 s . Gd . ; And Ceylon in hhds , at 41 s . Gd . j Palm , dull , fine , 46 s . ; turpentine , quiet , 45 s . Gd . and 44 s . Gd .

      Untitled Article

      The Commercial Bank of India has declared a dividend for the last six months of 1858 at the rate of 8 per cent , per annum . The report is extremely satisfactory . The annual meeting of the National Provincial Bank of England took place on Thursday , when the report was adopted unanimously , and a bonu 3 declared of 7- £ per cent ., making with the dividends already paid , a total distribution of 15 £ per cent , for the year 1858 . The business of the bank in sound and

      was stated to be a prosperous condition . The customers arc of nil classes , and if it at any time proves difficult to employ money ¦ with advantage among one portion of the community , an opportunity is usually found in another " quarter . Some discussion took place upon the question of a superannuation fund for the officers of the bank j and it was announced that although there are considerable difficulties in arranging a satisfactory plan , the matter will receive consideration .

      Untitled Article

      Telegraphic Communication with India . — A petition to Parliament , from " bankers , merchants , and others , " is lying for signature at the Jerusalem Coffee-house , urging the absolute neccBsity of the establishment of telegraphic communication with our Indian and colonial possessions completely independent of the control of continental biatos . All the lines of telegraph hitherto sanctioned by the British Government involve a continental medium . Just stress is laid upon the disadvantages of this policy , and upon the evil of the interruptions to be expected at a time of war ; and tho petitioners " strongly urge the establishment of " direct Hues ot submarine telegraph . " City Sewers . — -The Commissioners mot on Tuesday , at Guildhall . Tenders were received from different gas companies for lighting the public lamps for three years , when those from , tho London Chartered and Groat Central OompanioB wero ngreod to . A report was presented and adopted rejecting a sum of 4 , 000 / . claimed by tho Motropohtan BoardI of Works as tho City ' s share of a debt duo from the old Metropolitan Cornmiaslon of Sewers to tho Rock Assurance The oommitteo to which the report was roared thought , for reasons which they set forth , that no portion of tho money claimed was duo by the City and recommended this opinion to bo coranuuiioatod to the Metropolitan Board .

      Untitled Article

      THE EFFECT . OP WAR ON BRITISH COMMERCE . The most : important question in connexion with the possibility of England finding herself involved in war is , what effect will it have upon our commerce ? In the old war with France the suspension Of our maritime supremacy would at any period have sealed our ruin , and the grand effort of Napoleon was to achieve a European combination , suclr as should exclude us from every part . So long as the profits of our enormous trade remain undisturbed we are sure to tire out our opponents in every struggle . Can we count with certainty upon being able now as heretofore to secure tluit result ?

      Many , looking at the fact that the French fleet is alleged in number and power of guns to be superior to our own , and contemplating the possibility of its being aided by that of Russia , are disposed to entertain misgivings . But those persons omit to recognise the alterations effected by the lapse of a generation in the international system of maritime law . Under no conceivable circumstances of temporary or even of prolonged disaster could our general commerce now be interfered with . We might for a time lose our carrying trade , but that is the utmost injury that could be inflicted on us . The doctrine accepted during the Russian warand subsequently confirmed by the Paris Congress , that free ships make definitivel

      free cargoes , has settled this point j ' . Our interchanges of goods , therefore ^ would go on with nearly as much steadiness as ever , although the whole of Europe might be arrayed against us . The business would be conducted by the United States . Their ships would bring us cotton , corn , and all other staples according to our requirements , and would in turn distribute our manufactures over the world . Thus we should go on buying , selling , and making money in our old fashion , while our opponents were suffering exhaustion under the effects of financial mismanagement , commercial prohibitions , and the depressing influence Of conscriptions . It will be urged , perblock

      haps , that in the event of all our ports being - aded even the American marine conld then be of no service to us , but that is a contingency which few Englishmen will think it necessary to discuss . It would moreover , be as fatal to America as to England , and would therefore soon make that Power a party to the quarrel . But it may yet be said that , although the inviolability of neutral vessels . so recently affirmed by France , Russia , Sardinia , Austria , and Turkey , as well as by this country , the three former Powers may , if it should suit their purposes , disclaim it with as little scruple as they have lately shown in stultifying their decisions at the same Congress . regarding the Danubian Principalities . There is no room for any such to set aside the

      apprehension . Those who attempt new principle must do so at the peril of immediate war with the United , States . It is a matter on which the Washington Government will entertain no question , and the first interference with an American vessel would bq followed by an instant demand for satisfaction . Happily , therefore , the bearings of the case are now entirely independent of the wishes or decisions of the Continental Powers . Whatever dreams may bo nourished of fulfilling to the letter the traditions of the first Empire , that of forming a coalition to shut out and destroy the commerce of Great Britain , must be considered by the progress of civilisation to have beau shorn of nearly all its terrors . — Times .

      Untitled Article

      On Monday a special general meeting of the proprietors of the London , Brighton , and South Coast Railway was held to consider bills to enable the company to make alterations in their existing lines , to make a new rail way at Norwood , and to authorise the London and South Western Company to make new works , which will empower the two companies to make arrangements for carrying on the London and Portsmouth traffic . The Chairman , before entering upon the business of the day , gave sonie explanation of the contest with the South Western . When lie joined the company thirteen years ago a hbours

      policy of peace towards neig was adopted , and from that time up till recently that policy was strictly adhered to . The loss by this competition was falling upon the South-Western to the extent of 1 Z . per mile , whereas this company was gaining Is . 7 d . per mile by it . The South Western had made overtures to return to the old fares , but the Brighton would onlv consent to do so upon the recognition by the South Western of the principle of non-intervention . The eighteen weeks of the Brighton for this year showed an increase of 78 , 250 ? . over lasj year . After a lengthened discussion the two bills were agreed to . At a meeting of the Central Oude Railway Company , on Monday , resolutions for amalgamating with the Oude Railway Company , and for increasing the deposit from 2 s . 6 d . to 5 s . per share , were agreed to .

      Untitled Article

      ^ — .. i i i , .. —» RAILWAY INTELLIGENCE .

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      j | « n ¦¦ ¦ ¦ ! ii i iit ¦**¦*»* . M * y 14 , 18590 THE LEABEB - 627

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      HOME , COLONIAL , AM ) FOREIGN PROiHJCE MARKETS .

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      JOINT-STOCK COMPANIES .

      Untitled Article

      Protection in France . —A Paris letter says . — The Constitutioniicl announces that tho long debuted corn-law question will probably be settled shortly by the " pure and simple" revival of the sliding scale of 1832 , thoi'o being no time to consider during the present session the various amendments proposed of a legislation which the protectionist journal admits to bo defective . I am afraid that this news is but too true . The protectionists seem to be the only class of men in France powerful enough to thwart the views of tho Emperor . Many warm delates on the sliding scale have lately taken

      The Merchant Ships of Germany . —In a Hamburg letter , dated Friday last , we read : — "In the possibility of the armies of Germany being called upon , sooner or later , to take an active part in the war against France , our senate has deemed it prudent to beg , through our minister at London , the English Government to take under its protection the numerous merchant vessels which sail on every sea with the flag of the three ports . and free Hanseatic cities . The official reply has not been long coming . Lord Malmesbury has informed our senate that if tlie Germanic Confederation should , by the turn of events , be brought into a war . against France , England would not be able by any international treaty to take under the protection of her fleets tho merchant vessels of tho German states forming part of the confederation . This resolution of tho English Government , which became known to-day at our Bourse , has caused a profound Sensation amongst the shipowners . "— Exijrcss .

      place in the financial and commercial sections of the council of state ; and I am told that in spite of all the efforts of MM . Barocho and Rouher , two of the most able members of tho Government , a great majority of the council continues to uphold the most ultra-protectionist doctrines . M . Michel Chevalier , the French Cobden , strives in vain to dispel tho darkness which clouds the intellect of his brother councillors in regard to this question . In thejir eyes the agricultural and commercial interests of France Iroposo mainly upon those two corner stones of lndustry- * -Pjrohibition and Protection .

  • Citation
    • Leader (1850-1860), May 14, 1859, page 627, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2294/page/23/