October 31. 1868.
The Money Market Review, 31. Oktober 1868. S. 403.
Schließen
The Money Market.
Impression of soon rising money value. Recently increase in the number of good bills offering. Partly due to improvement in Iron Trade, which has imparted more cheerful feeling in other equally important branches of business. Foreign and Colonial Loans lately subscribed, having provided an outlet for some portion of the surplus capital, are gradually, if slowly, affecting the money market. There is a decided pause in the Continental demand for English bills, and the movements occurred during the last fortnight in the rates of exchange on France and elsewhere are causing an export of gold from this side, despite the enormous accumulation of the precious metals held by the Bank o. France.
At the turn of each quarter, owing to the payment of dividends and salaries, some large reductions in the reserve and bullion generally take place.
Total coin et bullion | Total Reserve of Notes und Coin | Proportion p. Cent of Reserve to Liabil. of Bk. Dept. | Bank Rate. | |
---|---|---|---|---|
Jan. 23. 1867. | £18,892,000 | £10,973,000 | 431/8 | 31/2 |
April 24. 1867 | 19,337,000 | 11,212,000 | 451/2 | 3 |
July 24. 1867 | 22,772,000 | 13,769,000 | 53 | 21/2 |
October 30. 1867 | 22,697,000 | 13,043,000 | 517/8 | 2 |
Jan. 22. 1868 | 22,201,000 | 13,332,000 | 501/8 | 2 |
April 22. 1868 | 20,527,000 | 11,587,000 | 461/4 | 2 |
July 22. 1868 | 20,077,000 | 12,586,000 | 487/8 | 2 |
Octer. 28. 1868 | 19,845,000 | 10,669,000 | 431/8 | 2 |
Vergleich Oct. 28. ’68 mit 23. Jan. ’67, increase of £953,00[0] in total coin and bullion und Decrease of £304,000 in reserve of notes and coin; but on comparing the Reserve mit Liab. des Bank Department – which chiefly guides directors in fixing rate of discount – the relative strength exactly the same. Yet Bankrate of Discount in Jan. ’67: 31/2% und in Oct. 28 only 2%. Culminating point, or strongest position of the Bank, 25 Sept. 1867, when Reserve of the Bk. Dpt. 575/8% of its liabilities. Since then the total coin and bullion, and the reserve of notes and coin have diminished £4,603,000 und £5,371,000 respectively. Verhältniß von Reserve to banking liab. now 141/2% less strong than on 25. Sept. 1867. Vgl. this week’s return mit that of 22 July ’68, coin und bullion have diminished £2,232,000 und Reserve of notes und coin £1,917,000, while Reserve, in proportion to liab., is 431/8% against 487/8%, difference of 53/4%. When the reserve sinks below 33% or 1/3 of its Liabilities, the Bank usually raises its rate of discount.
The Money Market Review, 31. Oktober 1868. S. 407/408.
Schließen
Manufacture of Iron and Steel. Heaton’s
Process Zusatz von
Marx.
Schließen (Patents).
For many years positive, though scarcely recognized contest, in progress between mechanical and chemical improvements in this department. Half a century ago mechanical progress was represented by the invention of puddling, and its details. Almost simultaneously the discoveries of new metals by the great chemists of the last generation suggested combinations with the ores of iron by which the product was improved. Voltaic and galvanic electricity were resorted to upon theories that had science, if not success, to recommend their trial.
Von Marx übernommen und zusammengefasst
in Manuskript II der zweiten Buchs des „Kapital“ (MEGA² II/11.
S. 194.9–15).
Schließen Bessemer process, for producing the best iron and hardest
steel. Crude iron contains, in combination, a certain amount of
carbon. The Bessemer process decarbonises the metal by forcing
through the converting vessel, in which it is fluid, powerful
jets of atmospheric air, the oxygen in which produces combustion
of the carbon contained in the iron. The result is intense heat,
and the production of steel ready to be poured into the ingot
moulds. Process defective in 2 respects. It does not wholly
supersede puddling, nor does it, in the
case of the poorer ores, get rid of the sulphur and phosphorus
they contain. Only, particular ores can be relied upon to
produce unexceptionable metal by this process. Puddling unless
perfectly efficient, will yield a product comparatively
fibreless. In fact, iron is being constantly produced to which
it would be impossible to give any fibre. Bessemer process owes
its efficiency as much to the quality of pig iron used as to the
speciality of operation.
Von Marx mit Auslassungen übernommen in
Manuskript II zum zweiten Buch des „Kapital“ (MEGA² II/11.
S. 194.16–30).
Schließen Heaton’s process does not exact the absence of sulphur and
phosphorus. Crude iron is converted at once into wrought iron
and steel, whatever the impurities it contains, and it
supersedes altogether the process of puddling. This done, not by
the mechanical application of atmospheric air, but by the
chemical effect of nitrate of soda in the „patent converter“. A
mixture of crude nitrate of soda, with siliceous sand, being
introduced into the converter, a reaction speedily commences.
Nitrous flames escape, with copious fumes produced by the escape
of steam, that carry away in suspension a portion of the flux.
Then follows an intense deflagration; and, when all is over, and
the converter emptied of its contents, the produce of steel is
found to have its impurities eliminated, while carbon reduced to
requisite proportion. The chemical operation is this: The nitric
acid in the nitrate imparts oxygen to the impurities in the
iron, and converts them into compounds with the sodium, and they
are carried off with the sodium in the slag. The action of the
sodium is a great advantage over the oxydising methods in common
use.
The wrought iron produced by the process in presence of Prof. Miller bore a rupturing strain of 23 tons per □ inch and an elongation of 1/4 of its length; and the tilted steel bore a tensile strain of 42 tons per □ inch and an elongation of 1/12 of its length; while the appearances of the fractures were uniformly fibrous. Some hard tools have been made of the steel and also of the iron, the tests of which were very severe, but which they bore with perfect success.
By superseding puddling, great saving effected in labour and cost of plant; by the power it gives of using crude iron from the ores richest in impurities, manufacture can be carried on in situations where otherwise it would be impossible. Superior article at cheaper price. Wichtig für railway, shipowners, armour plated navy etc[.] The cost of the converters and the means for carrying out the process absolutely inconsiderable in relation to the results obtained.
The Money Market Review, 31. Oktober 1868. S. 418.
Schließen
The Premium of gold at New York.
(Circular of H. Clews et Co. of New York. d.d. October
14.)
Tendency of gold premium strongly downwards, the price this week having touched 1371/8 against 1441/2 at date of our latest advices. Absorption of the large amount of bonds sent abroad 2 and 3 months ago – being contrary to general expectation, and having settled an adverse trade balance threatening to call for a heavy export of gold in addition to our previous unprecedented shipments – has revived the old reliance upon shipment of bonds for the settlement of adverse foreign balances. This unexpected foreign demand for bonds, together with the present upward tendency of quotations abroad, induces expectation that the large amount of interest payable to European bondholders on November 1 will be, to a large extent, covered by remittances |48 of bonds, which alleviates another source of misgivings as to the adjustment of our foreign balances. Hence vigorous reaction from the late upward speculation (nämlich auf Steigen des Prämium on gold). Dazu prospect of unusually liberal shipments of wheat and corn to Europe late in the season is also steadily making itself felt.
Inhalt:
- January 4, 1868.
- January 11, 1868.
- Railways und State Control.
-
Caledonian Railway.
(Report of Committ. of
Investigation)
- Contract
Corporation (Lim.)
(Chancery in)
- Insurance Cos. Their Getting up and
Winding up (Workingmen
beschissen).
- Silk in 1867. (Annual Circular of Durant et
Co.)
- Agricultural Implements. 1867. (Annual
Circular of Burgess and Key.)
- Railways und State Control.
- January 18, ’68.
- 25. January 1868.
- The Stock and Share Markets during 1867.
- Italian Deficits.
-
Midland Railway.
(Börsenmogelei und
Directors.)
-
Caledonian
Railway. (Ersatz des
Verschleisses.)
- Banks and Railway Cos.
- Overend,
Gurney et Co. (lim.) Report of the
Liquidators.
- Capital of Railways in U. Kingd. Board of Trade
Return. (für 1866)
- Lawyers and railways
- Railway Trains (1866)
- Causes of Commercial Depression. (Eingesandt
von
G.
Townend. Mincing Lane.)
- The Stock and Share Markets during 1867.
- 1 February, 1868.
- 8 February 1868.
- 15 February, 1868.
- 22 February 1868.
- 29. February 1868.
- 7. March. 1868.
- March 14, 1868.
- March 21, 1868.
- March 28, 1868.
- April 4. 1868.
- April 11. 1868.
- 18 April 1868.
- April 25, 1868.
- May 2, 1868.
- May 9, 1868.
- May 16.
1866
1868
.
- 23. May 1868.
- May 30, 1868.
- June 13, 1868.
- June 20. 1868.
- June 27. 1868.
- July 11. 1868.
- Alderman
Dakin.
- H. E.
Bird, public Accountant, Estimate of Railway (nach
den official accounts der Directors
(!))
- Labor of Superintendence. Venezuelan Loan.
(„Venezuela: Its Government and its People, and the History of
the Loan of 1864. By E. B. Eastwick, C. B. F.R.S., late
Secretary of legation at the Court of Persia; and
Commissioner for the Venezuelan Loan for 1864.“ (London.
1868.))
- Income Tax. Ireland.
- Australian Gold. Imports in U. Kingd.
for 10 J. end. 1867 (inclusive).
- Alderman
Dakin.
- July 18. 1868.
- July 25. 1868.
- August 1. 1868.
- August 8. 1868.
- 15 August. 1868.
- 22. August. 1868.
- August 29. 1868.
- 5 September. 1868.
- 12. September 1868.
- September 19. 1868.
- 26. September. 1868.
- October 3. 1868.
- October 10, 1868.
- October 17. 1868.
- October 24. 1868.
- October 31. 1868.
- November 7. 1868.
- November 14. 1868.
- November 21. 1868.
- 28 November 1868.
- 5 December 1868.
- 12 December 1868.
- 19 December 1868.
- Nachtrag zu November 14. 1868.
- 26 December 1868.
- January 4, 1868.
- 11 January 1868.
- 25 January. 1868.
- 1 February, 1868.
- February 8, 1868.
- February 15, 1868.
- February 22. 1868.
- 29 February. 1868.
- March 7, 1868.
- March 14. 1868.
- 21 March. 1868.
- 28 March 1868.
- April 4. 1868.
- April 11. 1868.
- April 18. 1868.
- April 25. 1868.
- May 2, 1868.
- May 16, 1868.
- May 23. 1868.
- May 30. 1868.
- June 6. 1868.
- July 4, 1868.
- June 13, 1868.
- June 27, 1868.
- July 11, 1868.
- Contract Price per Cwt. for Bread.
(figures just issued by the Board of Guardians of
Whitechapel).
- Sir Morton
Peto and the London,
Chatham, and Dover Co.
- Finance versus Finance. (Lewis. Hauptschwindler)
- From: Annual Report (1868) of the Irish Poor Law
Commissioners.
- Amount of gold, silver, and copper monies coined in
each year 1853–67.
- Contract Price per Cwt. for Bread.
(figures just issued by the Board of Guardians of
Whitechapel).
- July 18. 1868.
- August 1, 1868.
- August 8, 1868.
- August 15, 1868.
- August 22, 1868.
- October 10. 1868.
- November. 21. 1868.
- December 5, 1868.
- December 12, 1868.
- December 26, 1868.
- Ch. I Definition:
- Ch. II. International Indebtedness
- Ch. III. Various Classes of Foreign Bills in which
International Indebtedness is ultimately embodied.
- Ch. IV. Fluctuations in the price of foreign
bills.
- Ch. V. Interpretation of the Foreign
Exchanges.
- Ch. VI. Socalled Correctives of the Foreign
Exchanges.
- I)
Wechselrechnung etc.
-
Intermezzo. (Kettenregel, und Prozentrechnung)
- Alligationsrechnung.
-
Procentrechnung.
- Zinsrechnung.
- A) Einfache Zinsen.
A) Einfache Zinsen.
- I)
Aufsuchung der Zinsen eines Kapitals.
- II)
Aufsuchung des Kapitals.
- III)
Aufsuchung des Zinsfusses.
- IV)
Aufsuchung der Zeit.
- V)
Aufsuchung eines um die Zinsen vermehrten
Kapitals.
- VI)
Aufsuchung der Zinsen oder des Kapitals,
welche in einem, Kapital u. Zinsen darstellenden,
Werth enthalten sind.
- VII)
Aufsuchung eines mittleren Zinsfusses für
mehrere Kapitalien.
- I)
Aufsuchung der Zinsen eines Kapitals.
- B)
Berechnung Zusammengesezter Zinsen.
- A) Einfache Zinsen.
A) Einfache Zinsen.
-
Discontrechnung.
-
Terminrechnung. (Reductionsrechnung, Zeitrechnung)
-
Wechselrechnung (cont. von
p. 118)