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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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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 .
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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 .
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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 .
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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 .
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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 .
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^ — .. 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 .
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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 .
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Citation
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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/
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