The Sun.
London, England, 1855-10-05 00:00:00

3IONEY 11 A RKET

AND

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocK.

In the Liverpool cotton market, yesterday, the

demand for cotton was very general, but not for
large quantities. The market closed very flatly,
and prices of American and Brazils were id. per lb.
lower than last week. Other sorts were unchanged,
but hoirtyy of sale. The sales were 7,000 bales (1,500
for export, and the remainder to the trade). 300
Egyptian sold from 6d. to 61d. ; 2,000 Surat, 30.
to 4id. ; and 30 Sea Islands, 100. to Is. 2d. per
lb. ; 25,000 bales have been imported during the
week. The Railway Share Market was brisk, at
a slight decline on Wednesday's rates.
There has been less firmness in the market for
colonial produce this week. Sugar, however, has
ruled steady, though there has been less disposi-
tion to purchase. Plantation .Ceylon Coffee has
been ls. to Is. 6d. per cwt. cheaper, and other
kinds have tended downwards. Cocoa has been
6d. to Is. cheaper, and Tea has remained at 9d.
per lb. for common Congou. Rice has been 3d.
per cwt. cheaper, and the demand has been limited.
A fair business has been done in Spices. Pimento
and Cassia Vera have been depressed. Rum has
ruled steady, and Tallow is firmer.
The alteration to 5i per cent. in the rate of dis-
count was noticed in the first edition of yesterday's
sun, and was not adopted until after very full con-
sideration at the Bank of England, nor can it be
said that it was generally expected. We have
dwelt upon the necessity of doing something to
baulk those mere exchange speculators, who have
little or no connection with legitimate trade, and
it is only to be regretted that they cannot be
reached through a medium which will not so im-
mediately act upon the quiet going trader. How-
ever, we have the consolation to know, that among
the bankers and discount firms, the negotiation of
home bills is easily effected, and that the demand is
by no meansadequate to the means at the disposal of
the banks. Even yesterday, the 4th of the month,
when a pressure might be expected, as an ordinary
occurrence, there was no excitement and no
casualty of importance. This morning, although
long dated bills connected with foreign and Indian
business were charged up to the Bank minimum,
English drafts can be done below it ; and we hear
of money being left with the Lombard-street
houses at not more than 31 per cent. This does
not look like extreme tightness, nor is there so
much want of cash on the Stock Exchange as there
was a few days since. For deposits left during a
longer period, the Joint-Stock Banks allow 4 to
41 ; but then they require notice of withdrawal.
The English Funds have been more subdued this
morning after the sudden drop yesterday afternoon
upon the alteration in discounts ; and, besides the
buying back of speculators who had previously
sold, there has been quiet purchases for the public,
and up to this hour Mr. Mullins, who is pretty
closely watched, does not appear, either personally
or by proxy, to have been offering stock for the
Bank of England. We need not say how great
would be the relief to the market were he to dis-
continue his operations. Consols have been 871
and 87 for Transfer, and 871 to 4 for the 12th
inst. Exchequer Bills are 2s. to ss. prem. East
India Stock has been marked 226, and Bank Stock
216 to 218, being lower than when last dealt in.
Foreign Securities have been unsteady. Turkish
opened at 831 to touched 841, and are now 83i
to 841. The Scrip has been 21- to 21 discount.
Mexican are about the same, 211 but Peruvian
have receded to 741 after being 75. Spanish
Threes are 381. Brazilian Old • 5 per Cents. have
been done at 99.

The following are the nominal prices of foreign
stocks :—Grenada Deferred Bords, 18 to 20 ; Mexi-
can, 211 to 21i ; Peruvian Four-and-a-Half per
Cents., 74 to 76 ; ditto Three per Cents., 54 to 56;
Portuguese Four per Cents., 43 to 45 ; Russian
Five per Cents., 97 to 99 ; ditto Four-and-a-Half
per Cents., 85 to 88 ; Spanish New Deferred,
372 to 381 ; ditto Three per Cents., 19g. to 19k ;
ditto Certificates, 4/ to 41 ; ditto Passive, 4q to si.
Messrs. D. Bell, Son, and Co. report that during
the week the business in American Securities has
been chiefly confined to the variousßailroad Bonds,
of which there have been some considerable sales
at reduced prices.