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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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banks even feel the want of a demand for money , and are rather Offerers than receivers . Bills are discounted at 2 £ per cent . Something is due to the reports from Central Italy , where there is a probability of a further disturbance .. It cannot either be concealed that the conduct of the Emperor , so different from all general rules , though in itself now what we desire , destroys confidence . People cannot reckon on stability , and so they prefer employing their money in loans on good security to engaging in new enterprises . Indeed / the dearth of new undertakings is remarkable . Then , no doubt , the continuance of the strike is riot favourable to commercial activity , and altogether there is in consequence unexpected ease in the money riiarket .
In the Stock Exchange , from the two new loans , there has been activity in the week , and a good deal of business has been done , with a generally improving market . To-day things were flat . From Paris came a further slight decline in the funds there , and our . funds declined . Consols , which opened at 95 f , were afterwards done at 95 £ , and at that price the market closed very dull . The Indian loan , with the privilege of having the dividends paid at the Bank of Eng land , is regarded
by many persons to be as good a security as Consols , and as they can get nearly 2 per cent , more for their money in . the loan than in Consols , they have been selling Consols to buy into the . ' loan . It is at a premium of 1 to 1 £ . For the public , then , it is an Eriglish security , for the Government an Indian one , arid the Government gives accordingly nearly 2 per cent , more for the money than would be requisite , did it negotiate the loan " with the nominal , as it has the real guarantee of Parliament .
The-Russian loan is about par , or at a slight discount . What quantity has been taken is not yet known , but we are assured that what remains , if any , will not be thrown on the market . Banking shares , like the funds , are rather flat , but there is no change of . importance in the market . We subjoin the bank returns : — BANK OF ENGLAND . An Account , pursuant to the Act 7 th and 8 th "Victoria cap . 32 , for the week ending on Wednesday , the 24 th day Of August , 1859 : — ISSUE 1 J 3 EPA . RTMENT . Notes issued .... ' . . £ 30 , 689 , 800 Government Debt £ 11 , 015 , 100 Other Securities . „ 3 , 459 , 900 Gold Coin &Bullion 16 , 214 , 800 Silver Bullion .... £ 30 ^ 689 , 800 £ 30 , 689 , 800 HANKING DEPARTMENT . Proprietors'Capi- Government JSecutal . £ 14 , 553 , 000 rities '( including ' Rest 3 , 443 , 792 Dead Weight Public Deposits ( in- Annuity ) . ; £ 11 , 214 , 008 eluding Exche- Other Securities .. 18 , 304 , 418 quer , Savings' Notes ; . 9 , 015 , 865 Banks , Cdinmis- Gold and Silver sioners of Na- Coin 062 , 455 tional Debt , and Dividend Accounts ) 6 , 152 , 539 Other Deposits .... 11 , 183 , 858 Seven Day and Other Bills ...... 864 , 222 JS 39 . 197 . 406 £ 80 . 197 , 406 M . JIAKSHALL , Chief Cashier . Dated August 25 . 1859 .
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GENERAL TRADE BEPORTIFriday Evening . All the produce markets—Marfc-larie and Mincing-lane—are in a very quiet condition . Wheat sold very slowly at Monday ' s rates .. For barley there is a slight demand . The prices of sugar are steady ; so are those of coffee , rice , tea , &c . There is generally a season of dulness before it is quite ascertained in what condition the harvest will be got . in , and this season is now begun . Work : goes steadily on in the manufacturing districts , but there is nothing like extra business from either home or foreign domands . When the farmers have gathered in all the produce of their fields they will come to town for their- supplies , and impart a new life to the markets . From India and the United States the demands are rather slack , eo the characteristic of the week is dulness .
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RAILWAY INTELLIGENCE .
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The elaborate annual report on the railways o the United Kingdom , presented by Captain Douglas Galton to the Board of Trade , furnishes all the leading financial and working details of each company , together with the aggregate totals of the complete system . These statistics comprise—X . The total capital authorised to bo raised by each company respectively in England and Wales , Scotland ,
and Ireland ; the proportion of this capital actually raised , and the total capital actually raised by each companyj the total for each division of the kingdom , and the aggregate for the entire kingdom . IT . The annual preferential charges on each line for interest on preferential and guaranteed shares and loans , and the totals of the Whole . III . The gross traffic receipts ; the working expenses ; the total of working expenses and preference charges , and the net inco me available for dividend . The total capital authorised for railway purposes amounted at the end of lastyearto
346 , 408 , 28 7 Z . for lines open . The amount actually raised for open lines was 308 , 824 , 8517 ., of which 33 £ per cent , was in ordinary shares , 21 £ per cent , in preference and guaranteed shares , and 25 J per cent . in loans . The total sum of money authorised to be raised for the construction of railways , open and remaining to be opened , on the 31 st of December last , was 392 , 682 , 755 * . of which 325 , 375 , 507 ? . had been raised—viz ., 181 , 837 , 7811 . by ordinary share capital , 61 , 854 , 547 * . by preference shares , and the remainder , 81 , 683 , 179 ? ., by loans , leaving 67 , 307 , 248 Z .
to be raised . . Indian Railway Prospects . —We are given to understand there is every likelihood that by the end of the year our local railway will be opened southward to the town of Sholapore , a length of about one hundred miles ; and simultaneously there will be an opening northward to Nassiek of nearly another one hundred miles , making the total length of line , which will he at work in i 860 , amount to something like four hundred miles . Pleasing as these figures are , we feel assured that every extension which is opened will riot only increase the passenger traffic with the rents offered for amusement seekers , but the denizens of this tight little island may look forward to a prospect of obtaining grain and gram for something like one-third the prices now paid . ¦! And then who shall calculate at this moment the thousands of devotees prevailed upon to . attempt
a pilgrimage bij rail (!) to the Hindoo shrines at Nassick ! How the myriads of Banians , who now revel in filth , will then be seen in all the beauty and pride of cleanliness , with limbs laved in the purity of these sacred waters ? What an exquisite annual report might now be fairly expected of the directorgeneral of prisons , as with the philanthropy of John Howard he reduces the number of passengers in a third-class carriage from 200 to twenty !¦ What blessings he will earn from the Bhuddists for his tenderness to animal life ; how likely to induce said Bhuddists to transport the Pinjrapole from Bombay to Nassiek by the railway ; and how , finally , we shall find a monument erected at the conjoint expense of the railway companies and of Pinjrapole societies of that director-general who promoted their mutual interests ! Our feelings will not permit us to say much ja . ote . -r-Bom . bai / Gazette .
Portuguese Rah-ways . —The Spanish financier , Salamanca , has made the deposit of . £ 40 , 000 required by the provisional contract entered into between him and the Portuguese Government . The concession is still open to competition for the space of forty days , but unless Sir Samuel Peto enters again , and revises his proposals , which is very unlikely , the contracts of Salamanca will be definitively adopted . Whether this gentleman will be able to execute the extensive works contracted tor at so low a figure is matter for grave doubt ; the terms arc far more advantageous for the ; j ? ortuguese Government than those of Peto ' s contract , and the work draughted out is more costly and difficult ,
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Ax the first meeting of the London District Tblegrafh Company the report was adopted . It was stated that the paid-up capital of 10 , 740 / . is more than sufficient to meet all the liabilities for contracts , &c , and that no call will bo made until required by the progress of the works . An agreement for interchange of trafflo has been concluded -witn . the British and Irish Magnetic Company , at whoso new establishment , in Threadncedlo-strcot , will be the chief station of the London District Company . Eligible sites havo > lso been secured for three other principal stations . The eighty-nine sub-district stations will be taken as tho works progress , and it is expected that the whole will bo ready for opening by the commencement oi noxi
year . At tho annual meeting of the Eaoxu Insuiunck Company a most satisfactory report was prosoncou and adopted ; which gave a highly favourable ; account of the prospoots and present condition oi i «>« society , and of tho ability whioh has elwaotarlBod its management . A groat many votes oi «»» " » and complimentary speeches wore oxohan goa uutweon the directors and the shareholdep , who see u mutually pleased at tho result of tho business of to year . With regard to tho existing state of tuo company ' s affairs it appeared that tho balanco lasi yoav was -6482 , 000 ; » was now £ 000 , 000 . r l he now
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PRICES OF THE PRINCIPAL STOCKS AND SHARES AT THE CLOSEOJP THE MAEKEt . .
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Indian Railways . —The grand total amount of capital raised by the various Indian railway companies , and paid by them into tho homo and Indian treasuries in tho years from 1848-49 to 1858-59 is sot down at 23 , 250 , 480 / . The total amount of interest on capital received by all tho companies from 1849-50 to 1858-69 was 9 , 739 , 458 ? . Tho amount of disbursements on aqcouut of all tho companies in England and India during the same period was 19 , 061 , 0972 . Tho balance of principal duo to all tho companies from tho Government of India at the end of April last was 4 , 189 ; 382 * .
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Last This - Week ; "Week STOCKS . 3 t > er cent . Consols—Money 95 * ?* f Ditto Reduced 95 $ 96 * Ditto New . 96 9 < 3 £ aa ^ . iI :::::::::: ; :::::::::::::::::: % Si Exchequer Bills .... , 26 * 20 Canada Government 6 per cent in ± ± 16 New Brunswick Government 6 per cent-.. ... New South Wales Government 5 percent . 99 $ 99 * South Australia Government 6 per cent .. 110 109 * "Victoria Government 6 per cent Ill 110 * Austrian Bonds , 5 per cent 77 77 £ Brazilian Bonds , 5 per cent .... • 104 French Kentes , 3 per cent 68 . 90 69 . / 0 Mexican Bonds , 3 per cent • •*?? Peruvian Bonds , 4 Jper cent 93 * Sli Spanish Bonds , 3 per cent 32 $ Turkish Scrip , 0 per cent .. 83 83 f RAILWAYS . Bristol and Exeter .... 99 99 * Caledonian 83 & > £ Eastern Counties . » S » ' £ East Lancashire •• Great Northern .. ••* l ^ L ™? £ „ "Western •¦¦? 58 J * S ° l Lancashire and Yorkshire . 95 . . 96 * London and Blackwall 65 § ^ 65 * London , Brighton , and South Coast ....... 109 109 * London ancTNor th-Western 94 f 96 * London and South-Western 91 * : JJ 1 J Midland 105 £ 106 North British > .. 58 60 f North Staffordshire .. -. 13 18 £ Oxford , Worcester , and Wolverhampton .. 32 32 South-Eastern ......-i . 75 76 J South Wales . 63 63 Bombay , Baroda and Central India ....... 17 17 Calcutta and South Eastern ............. . ip iv Eastern Bengal | d 4 J East Indian 100 101 Great Indian Peninsula ............ . 98 96 $ Madras 90 90 Buffalo and Lake Huron . 5 5 $ Grand Trunk of Canada . .. 36 * 36 Great "Western of Canada .....:... 14 f 1 GJ Antwerp and Rotterdam , i * t 4 t Dutch Rhenish . •¦ 5 jd 6 Jd Eastern of France . 26 26 Great Luxemburg' 6 i Cf Lombardo-Venetian .. lOf 10 * Northern of France 37 37 $ Paris , Lyons , and Mediterranean ........ 36 35 Paris and Orleans 55 55 Southern of France . 204 20 i Western and North-Western of France ., 22 23
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994 THE LEADEB [ No . 492 . Aug . 27 , 1859 ,
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At the half-yearly meeting of the shareholders of the Great . Northern Railway Company , on Saturday , a dividend was declared at the rate of 31 . 7 s 6 d . per annum on the original stock , yielding 3 / . per cent , for the 'half year to the " B , " and 7 s . 6 d . per cent , to the "A " shareholdera . The meeting went off more quietly than has lately been the case with the meetings of this company . It was announced some short time hack that the Eastern Bengal and Calcutta South Eastern Railways had been transferred by the Government of India to the direct control of the Lieutenant-Governor of Bengal . The E . I . Railway has also , we learn , been placed , from the 1 st July , under the local government . - At the meeting of the London , Tilbury and Southend Railway Cqmjpany the statement of the revenue account showed that the receipts amounted to 21 , 5762 . 14 s . 6 d . arid the expenditure to 14 , 630 J , 945 / 19 Idwhich is
15 s . 5 d ., leaving a balance of 6 , . s . ., 656 ; . 15 s , Id , more than in 1858 . The contractors pay a fixed dividend of 6 per cent , per annum to the proprietors , The meeting of the AMBisRGATig , Nottingham , &e ., Railway Company took place this week . There was a favourable report , and the accounts showed a considerable increase ui the canal revenue . A dividend of 3 s . per share for the last six months was declared , and the report was adopted . The report of tho directors of tho Eastern Counties Railway Company adopted at the meeting on Thursday recommended ( as noticed previously ) a dividend in the ordinary shares of M . Is 3 d . per cent , for tho half year . The falling off in the goods traffic was accounted for by the chairman , who stated that tho fish supply to tho ports of Yarmouth and Lowostoft had been loss than at any period for the last twenty-five years , reducing that traffic to a third of the amount .
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JOINT STOCK COMPANIES ,
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Citation
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Leader (1850-1860), Aug. 27, 1859, page 994, in the Nineteenth-Century Serials Edition (2008; 2018) ncse2.kdl.kcl.ac.uk/periodicals/l/issues/vm2-ncseproduct2309/page/22/
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