The Sun.
London, England, 1855-10-19 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
The Liverpool Cotton Market yesterday closed
heavily, and prices of all kinds were the same as
last week. The salei were 5,000 bales (1,000 for
export), comprising, in addition to American, 120
Pernam and Maranham at sid. to 6/d. ; 300
Egyptian at 6d.. to 9d. ; 1,200 Surat at 34d. to
; and 400 Sea Islands at Oa. to is. ld. per lb.
The Railway Share Market was subjected to various
and considerable fluctuations during the day, clos-
ing heavily. _

For colonial produce in the early part of the week
there was rather an improved inquiry, and most of
the principal staples were at steady rates, but since
then sales have to some extent been depressed,
which, together with the stringency in the Money
Market, caused a lower range of prices to have been
accepted. Sugar, however is an exception, full rates
to Gd. advance having been realised. Native
Ceyloa coffee, as well as plantation, is Gd. per cwt.
cheaper. In rice there have been very few trans-
actions, as holders have asked firm quotations.
Tea has ruled heavy, and common congou has
been sold at 81d. per lb. full prompt. Saltpetre
has been a shade lower. Ruin is steady, and cocoa
has not varied materially. Most kinds of spices
have been disposed of at slight reductions. Tallow
has been firm at 635. per cwt. for P.Y.C. on the
spot. At the public sales of indigo low qualities
have been rather dearer, but medium sorts have
scarcely been so firm. The public sales of colonial
wool commenced yesterday, and there was rather a
limited attendance of buyers. The prices went ld.
to lid. per lb. lower than during the last series.
About 57,706 bales will be offered.'
The West India advices represent the markets
as being in rather a more favourable condition. As
regards the revenue for the last quarter it was ex-
pected that it would show a material falling off,
and that at the end of the year an important defi-
ciency would have to be supplied.
From Trinidad the accounts relative to the sugar
crops are rather unsatisfactory, but of cocoa a
larger quantity has been shipped than in previous
years. In Dominica the canes bad suffered from
the heavy rains, while in St. Lucia they had sus-
tained injuiry from the drought that had prevailed.
A heavy cloud hung over the operations on the
Paris Bourse yesterday, until it was known that
the Banks of England and France had decided
upon raising their rates of interest, when the 4i
per Cent. Rentes suffered a fall of 50 centimes, and
the Three per Cents. for the account declined 90c.,
those for money being quoted at 64f. 15c., being
70 centimes less than the opening prices. Prices
of wheat remained somewhat stationary, notwith-
standing the appearance of many purchasers. A
supply of 214 sacks averaged 109 f. sc. per 157
kilogrammes.

The Bourse at Vienna on the 17th inst. was
agitated by the announcement that a new issue of
shares, to the number of 60,000, by the Bank of
Vienna, would shortly take place, and that pay-
ment would be taken for them in bank notes.

By our latest intelligence from Turkey we learn
that the Ottoman Government have resolved upon
forming a first line of railway in the empire be-
tween Constantinople and Belgrade. _

The decision of the directors of the Bank of Eng-
land yesterday, in raising the rate of discount to 6
per Cent, for bills not having more than 60 days'
to run, and fixing 7 per Cent. for bills above 60
and not exceeding 95 days' to run, is necessarily a
subject of most anxious debate in the City. Al-
though opinion is to some slight extent divided as
to the ultimate prudence.of the measure, it is gene-
rally, admitted that the exceptional causes which
made so bold a step necessary, are sufficiently
urgent to justify them in tightening the
screw. The fact of the Governor and Deputy-
Governor having had two interviews with
the Chancellor of the Exchequer, this week,
sufficiently testifies to the urgent necessity of some
more restrictive measure on the demand for notes
and gold, or else some expansion of the powers of
the Bank to supply the demand. The Government,
it is understood, having refused these applications,
they had no other resource but to put up the rate,
and it appears not unlikely that a further advance
may still be necessary.

The Directors of the Bank of France have had,
at length, to act in opposition to the wishes of
the Government. The drain upon it for gold and
notes has, like that here on the Bank of England,
been very active, and requires prompt and ener-
getic action on their part to check and keep it
under sufficient coutroul. They yesterday had,
simultaneously with the movement on this side the
Channel, to raise the rate of discount on commer-
cial bills to 6 per cent. ; whilst, to still more effec-
tually arrest the speculative feeling on the Bourse,
they likewise gave notice that the advances on stocks,
&c., will be limited to 30 per cent. of their value.
The latter term will place a material barrier to un-
healthy stock speculations. Should their present
measures not suffice to stop the drain upon bill
resources, it is understood that the next step will
be to suspend specie payments.
Such a measure would, it is almost needless to say,
drive gold from France into England, and mate-
rially help the Bank of England. The necessity
for such a step, however, bespeaks the severity of
the drain which has been going on for some time.
A firmer market exists to-day for English stocks,
and 4 of yesterday's decline has been recovered.
This upward movement is occasioned by the pur-
chases for investment, the present low price offer-
ing a temptation. At the commencement of busi-
ness Consuls were 87k to 87g ; they then improved
to 871 and 87g- for money and account ; they are
now down to 87 to for both, owing to the rise in
the corn market. Exchequer Bills have receded to
108. and 15s. discount. Bank Stock remains at
207 to 209. • The New 3 per Cents. are at 87k to
871, and the Reduced at 861 to 862.
The only feature in the Foreign market is the
weakness of the Turkish Bonds. The 6 per Cents.,
after being 79 to 791, have been down to 78- and
781. New Scrip is at 34 to 31 discount. Dutch
4 per Cents. are 931. Spanish 3 per Cents. are
firm at 37g, and the Deferred at 191. Mexican
Stock is flatter, being 19.3. Equador Bonds rule
at 41, Chilian 6 per Cents. at 100, and Grenada
Active at 181.
The following are the nominal prices of foreign
stocks: Grenada Deferred Bonds, 18 to 20 ;
Mexican, nit 191 ; Peruvian, 71 to 73 ; ditto
Three per Cents., 51 to 53; Portuguese Four per
Cents., 43 to 4; Russian Five per Cents., 95
to 98 ; . ditto Four-and-a-Half per Cents., 85 to 88 ;
Spanish New Deferred, 371 to 38i ; ditto Three
per Cents., 19i tog ; ditto Certificates, 4to 41-;
ditto Passive, 4i to 5.
In the Railway Share Market to-day the trans-
actions are circumscribed, and although prices are
generally without important variation, there were
one or two instances of weakness. Great Western
are about 1 per cent. lower. Lancashire and
Yorkshire, North-Western, and Midland are like-
wise at reduced values, but South-Eastern are
rather firmer. The French lines are weak, and
the Paris and Lyons are U. cheaper.
United Mexican Mining Shares and Australasia
Bank are rather depressed. Canada Land Shares
have dropped 4/. to 51.

BRITISH FUNDS THIS DAY AT ONE 0'Ci,c,.1..
t Prom the Oticial List. )
BnAness don.
Bank Stock • • 0000000000000000000000000 209 7
3 por tent. Reduced Annuities........ 0000000 86$ i i
3 per Cent. Consols Annuities ............... 87$ t t i i 7
N9W 3 per Cent. Annuities ..... „ ............ 874
Ling Annuities, Expire sth Jan., 1860 ... 3
7-16
Ditto 30 Years, Expire sth Jan., 1860. 3
Ditto 30 Years, Expire sth April, 1885 16 5.16 346
ndia Bonds, ..ClOOO ........., .. . .............. par
Ditto, under 21000 par
Consols ler Account -
Etchequer Bills, t)ed. I 2d.
21000 .. lO 5 5lO
2500
10 3 I 10
4mall
E:chequer Boucle 1858,. 3i per Cent.... 98i 4
Ditto 1859, ~ ... 98 i
PRICE OF FOREIGN FUNDS AT ONE O'CLO; K
Brazilian Bonds 5 per Cent. . —
Ditto New, 1852, 4i per Cent 9l
Chilian Bonds, 6 per Cont. .........
Equador Bonds
Grenada Bonds, 1i per Cent.
liesica,, 3 per Cent.
Ditto for the account
Spnn st, Bouds, 3 per Cent 37i
Ditto New Deferred, 3 per Cent.
Ditto for the account —
Turktt.ti Bonds, ti per cent 79 i
Ditto for the account
Ditto New 'trip, 4 per Cent.
Ditto for the Account 3.4 $ i d
Dividends on the shove payable in LOtu)D.
Datoh Exchange, 2i per Cent. 12 Gull
Ditw 4 pox Cenx. Certitiat4o•• •••,...„ 93i