The Sun.
London, England, 1862-10-25 00:00:00

MONEY MARKET•

CITY NEWS-YESTERDAY.

About 19,000 sovereigns were taken from the
Bank to-day for transmission abroad.

The importation of silver from the Continent
continues on a very heavy scale, and will probably
lead to considerable withdrawals of gold from the
Bank, in addition to absorbing the supplies that
may come to hand from America and Australia.
At the same time, remittances are expected to con-
tinue on account of recent foreign leans. An
early advance in the Bank rate of discount to 2t
per cent. is therefore expected.
Of the total of £1,000,000 in silver, originally
despatched from this country on account of the last
Turkish loan, a further sum of £250,000 has come
back tc, London, via Paris, from Constantinople,
and has been purchased for transmission to India.
This makes the aggregate returned £050,000, in-
cluding £400,000 received about two months ago.
Bills on the Continent were again in demand this
afternoon, and the tendency of the exchanges was
accordingly unfavourable.

It appears that in the terms of the prospectus of
the Turkish Loan of 1862 the half-yearly drawings
will take place in May and November. The first
drawing will occur in May next, and the drawn
bonds will be paid off at 100, with the current
dividend of the half-year annexed.

The scrip certificates for the 7 per cent. prefer-
ence stock of the Demerara Railway Company are
now ready for delivery.

The Union Bank of Australia announces the
half-yearly interest on the City of Melbourne loan.

The Janet Mitchell has arrived from China with
868,0001b5. of tea.

The Gazette specie statement for the week end-
ing last Wednesday, gives the following totals, viz.:
Imports of gold, £383,414 ; exports of gold,
354,332; imports of silver, £207,659 ; exports of
Silver, £310,777.

CITY NEWS---THIS DAY.

CITY, TWELVE O'CLOCK.

There is no new feature to notice in connection
with monetary affairs, the demand for accommoda-
tion being sustained, and the rates continue firm.
Since Monday last the imports of specie have
been about £539,000, and the exports £226,600.
Notice has been given that 12 Bonds of the
Swedish Provincial Mortgage Loan, amounting to
£3,300, will be paid off on the Ist December next.
A special meeting of the London and Mediter-
ranean Steam Company has been convened for the
30th inst., and of the Calcutta and Burmah Steam
Company for the 28th inst., for the declaration of
a dividend.

The following with regard to the effect of the
American war upon the Produce Markets is ex-
tracted from Messrs. Y. Travers and Son's circular:—
"The peculiar action observable on the Produce Markets
from the American war is beginning to subside, and may
shortly be expected to become comparatively unimportant.
At first the inevitable result of this war was to lessen the
demand for all descriptions of produce, and Brasil, China,
Russia, France, and England each experienced the
blow of a sudden and almost complete cessation of
business with thirty millions of customers, who had hitherto
been more celebrated than any other people for their liber-
ality of expenditure, especially on all articles of personal
enjoyment. But this could only be temporary. It did not
arise, except in a very limited degree, from a diminution of
consumption, but simply from the fact of the people falling
back on their existing stocks. In every country the first
effect of a war is to cause merchants to restrict their fo-
reign orders ; a general cessation of impotts thus takes
place, and it is not until all the goods in shops and
warehouses are nearly exhausted, that fresh courage
is felt for a renewal of purchases. Even then the
purchases are " from hand to mouth," but, of course,
they are thus as great as those of ordinary times,
which are merely equal to what is sufficient to keep
exist-
ing stocks from being reduced by daily consumption. When
these stocks are exhausted the people must either buy
bu
usual or refrain from use. There is no reason to suppose,
as far as the Northern States are concerned, that the latter'
alternative will be adopted. The enormous issue of paper
money stimulates expenditure of all kinds, and besides this
the waste of an army may at least be reckoned as quad-
rupling the quantity of any given article that would be
fairly consumed by the same number of persons in peaceful
life. In the Confederate States, doubtless, under the pres-
sure of the blockade, there has been great economy in the
use of imported goods, but even in these States there has
been no restriction whenever the capture of Federal sup-
plies has created occasional abundance. At all times it was
the people of the North who were the great consumers, and
the prodigality of that scotiou of the country, with its
twenty-two millions of population, must, throughout the
war, have far more than counterbalanced the influence of
the privations of the eight millions in the South. Under
these circumstances, the conclusion seems clear that, now
that their old stocks are for the most part absorbed, the
demands of the Americans on the produce markets of the
world will for the future be at least on a normal scale."

Two O'CLOCK.

Further indications of weakness have been per-
ceptible in the English Stock Market, owing to
several small sales on speculative account. which
led to a decline of k per cent., Consols, which had
been 93i t, receding t o 93-4- for money and the
6th proximo. The New Threes and Reduced are
flat at 918 92 ; Exchequer Bills, June, are 19s. to
225. prem.; ditto March, 17s. prem. ; India Stock
is buoyant at 229 ; and the 5 per Cents. at 1094
Foreign Securities show less firmness, although a
fair amount of business is reported. Turkish 6 per
Cents., 1854, are heavy at 821-, 831 ; ditto, 1858, at
691 701 ; the New Scrip, 19 prem.; and the Con-
solides, 381 ; Mexican have declined to 331 ;
Egyptian to 901 ; and Spanish Passive, 21,57 4 ;
Brazilian are firmer at 1001 101; Sardinian at 84-1;
Russian Scrip is flat at 11 prem.
In the Railway Share Market a heavy tone pre-
vailed, and prices generally exhibited a decline at
to per cent. Bristol and Exeter, Great Western,
Lancashire and Yorkshire, and South Eastern re-
ceded ss. ; Midlands, 10s.; Caledonian, 153. ; and
Great Northern, £l.

The Foreign and Colonial undertakings were also
at slightly reduced quotations. South Austrian and
Lombardo-Venetian reilised 221 d ; Grand Trunk
of Canada declined to 21-1- ; Cape Town and Dock
to 1061.

Joint-Stock Bank and Miscellaneous Shares
generally were inactive, but at slightly reduced
rates; London and Colonial are quoted 1 to 11, pre-
mium ; Standard of South Africa, 2fr -77 prem., and
Canada Bank, 1:11 prem.

BRITISH FUNDS—CLOSING PRICES.
3 per Cent. Reduced Annuities 92 1k
B per Cent. Consols Annuities
New 3 per Cent. Annuities 9li 2 lt
Vinuities, 30 yrs, expire sth Jan., 1880 —
Ditto (Red Sea Telegraph), Aug. 1908 2l/
India Stock
Ditto I) per Cent
Ditto Enfaced Paper, 4 per Cent —
Ditto 5/ per Cent.
Ditto Debentures, 4 per Cent., Oct., 1863
3100133
Mtn r, Bonds £l,OOO
a I I
Consols for Account, Nov. 6
Jun- 93
March.
Exchequer Bills £l,OOO, 3 per Ct. .. 22 19
Ditto £SOO
22 19
Ditto Small
FOREIGN FUNDS—CLOSING PIROOIICEIS.
Brazilian, 5 per Cent.
90i 90
ErYPtian, 7 per Cent
Ditto, Second Issue, £6O pd
Mexican, 3 per Cent
Ditto Account
Portuguese 3 per Cent., 1853 47k 7
Ditto 3 pet Cent., 1862
Rosßihn •' per Cent 18'22 £St .
Ditto 3 per Cent. 1859
Ditto 5 per Cent.,1862, Scrip, £32 18s pd l/
Ditto Paid up Scrip9s
Ss
'l'd n
Ditton
ha Acsloc
eoprue nrtC.
Cent.,en.t .... . . . .. . . . . ... . . . —B4+
DDltttio. NAeznitetfe.r.re. d.
Ditto Passive. „
Ditto Account ..
Tas-fri,4l 6 per Celli. .. i.. ••4t. • 6.. •.. e. e. • • • • e. •
.C.
.e. :e • 2i i
8-7,/ 3/ 2/
Ditto 6 per Cent. 1858 ...
Ditto Account
Ditto, £lOO Bonds . ......
Ditto 6 per Cent., 1862 (ScriP)., . 1.5.0.
Ditto,i)P:tviidd,unpdsScornipth..e.a.b.o.;.o ..................................................0,,
Consuls, Money :•.... 93% 1
Ditto Account
______ _

FIRE IN THE CITY-ROAD.—On Thursday a fire
broke out on the extensive premises occupied conjointly by
Mr. M. Quinton, a wheelwright, and S. L. Corti and Co.,
artificial flower manufacturers, Charles-street, City-road.
The flames commenced in the factory belonging to the last-
named firm, which was nearly 50 feet long, and 20 feet
broad. Some engines attended, but the flames had Isrevi-
ously taken possession of the whole of the flower factory.
They
were rushing through the roof with the greatest fury.
The firemen managed to ;event the flames from extending
to the surrounding property, and also from destroying the
heelwright's shop of Mr. Quinton, but Messrs. Corti and
Co., 3 factoryyme burnt out, and the roof destroyed,