MEGAdigital. Online-Angebot der historisch-kritischen Gesamtausgabe von Karl Marx und Friedrich Engels

November 7. 1868.

Money Market.

Trade so bad with stagnant money market that revival in demand und even increase in Bankrate now welcome as a signal of relief. Discount Houses acting at present with great caution, and refuse to take long paper at anything like the rates current a week ago. Preference given to short bills, the rates for which have been less affected during the week than those for bills having 4 or 6 months to run. Evidence of increased demand for money besonders reduction at B.o.E. of £1,298,000 in the Private Deposits.

Board of Trade Returns.

Exports of British and Irish Produce.
	1866	1867	1868
For Month September	£16,671,078	£16,145,584	£16,927,000 Excess of £782,000 über Sept. 67 und £256,162 über September 1866.
Total Exports für 9 mths. end. Sept.			£133,704,000, being Less £3,498,000 than 1867 und £8,232,000 1866.

The Exports of Sept. 1868 exceeded the average of the 5 previous months by £1,856,000, or 121/2%; and each of the last 3 months gives a fair increase on the preceding month.

Imports. Computed Real Value.
	1866	1867	1868
For month August	£22,480,009	20,748,046	20,278,000
Total Imports for 8 months end. August.			£152,562,000
			Increase on same period 1867 of £2,878,000 Decrease on same pd. 1866 of £13,463,000, the chief fluctuations being in cotton and wheat.

Receipts of Wheat only for 12 months end. August 31, 1868: cwts 36,333,087 or 8,384,559 qrs – increase on the preceding 12 months of 263/4%. For September 1868 (first month des neuen Herbstjahrs. Von 1 Sept. bis August 31 immer) decrease in the imports 353/4 on same time 1867.

Cotton Trade.

It is unfortunate that this trade should be rendered more risky and hazardous by the intervention of a class of mere speculators, who, coming between the merchant and manufacturer, have not a true or legitimate interest in its welfare or stability … the class of transactions so often observed in Liverpool … are not improperly described as gambling. Erhöhen und vermehren obviously die Preis fluctuations. … The high prices of the last 5 or 6 years have restricted the sales of goods in every market, and been the means of adding to the number of mixtures, composed of cotton and other fibres, which will for the future compete largely with mere cotton goods.

The cotton circulars of October contained the completed statistics of the American crops for the season 1867–68, taken from recent New York papers.

Grand Total of cotton growth in Un. States. (round numbers)
1867–1868	bales 2,577,000	Increase over 10% compared mit 1866–67.
1866–1867	2,329,000
1865–1866	2,329,000	but hierin included a quantity belonging to 1861–65, of which no records were taken.
1868–1869	Estimates vary from 2,500,000 to 2,700,000 bales.

Present state. (Circular of Leech, Harrison, and Forwood.)
	October 31. 1868. Bales.	Oct. 31. 1867. Bales
Stocks in Liverpool, London, Havre.	628,875 against	809,489
At Sea for these ports. American	29,000	21,000
East Indian etc	289,513	191,750
Total Stock in hand and at Sea	947,388	1,022,239

These figures shown trifle against this year, but are not sufficient to warrant the difference shown in the quotations, which are „Middling“ Orleans 111/4d. p. lb Oct. 68 against 9d. p. lb Oct. 67 und „Fair“ Dhollera 81/4d. (Oct. 68) gegen 65/8d. (Oct. 67) American cotton may be considered statistically of strong position, since 2/3 of the deficiency in the Liverpool stocks of that description. The supplies, however, known to be on the way, not only of American, but other hands, larger than at this date last year. Moreover, the accounts given in the Manchester trade circulars of gloomy character; resort to „short time“ spoken of as inevitable.|

It is significant that the spasmodic upward movements in cotton so frequently of late have had no effect and received no response or encouragement in the markets for manufactured cloth, either in this country or abroad. In fact, the Manchester quotations for cotton goods, despite an advance of about 25% on the raw material as compared with 1867, are now (as stated by Mssrs. G. Fraser, Son, and Co.) unchanged, or only nominally dearer than those ruling 12 months ago, so that the whole difference is practically lost by the trade.

Cotton. Liverpool Market. Nov. 6. (’68)

Rise of 1/8 to 3/8d. p. lb. Sales of week 121,500 bales, davon 26,500 taken on speculation, 26,750 for Exportation. Imports 40,000 bales. Miserably unsatisfactory accounts from East. On 28 Oct., with Exchange 1s. 115/8d., prices from Bombay for an 8–4lb. Shirting net home only 9s. 2d. p. piece, and from Calcutta 8s. 9d. p. piece, showing a loss on the present unrenumerative rates.

Winding up Companies in Chancery.

The Official Judicial Statistics for 1867 show 110 orders were brought into the chambers of the Masters of the Rolls and Vice Chancellors for winding up Cos. List of contributories were proposed, from which 357 names were excluded; 9,343 persons were included in the lists. Calls were ordered in the year amounting to £4,497,831. Dividends were ordered to be paid to £7,310,339. The calls made in 1866 were £1,810,834.