The Sun.
London, England, 1862-05-14 00:00:00

MONEY

MARKET.

CITY, TWELVE. O'CLOCK.

The Money Market is gradually assuming a
firmer appearance, but it chiefly arises from a
feeling of greater reserve among the banks and
discount houses. The exports of specie which
have already taken place, and the prospect' of the
amount being continued until the loans lately
negotiated for Turkey, Egypt, and Russia, are
transmitted, encourage the opinion that the value
of accommodation will increase, especially as it
may be influenced by other causes, and the con-
sequence is that full rates are enforced for the
negotiation of mercantile securities. In many
quarters business at the current rates is refused,
because it is thought that higher terms will be
attainable before_iiniany days have elapsed.
While, however, ''fl is reason to believe
that an upward movement will be experi-
enced, no immediate ground exists for the pre-
sumption that anything like pressure or strin-
gency is likely to be encountered.
Continued dulness prevailed in the Liverpool
Cotton Market yesterday ; but prices were steadily
maintained. The sales were about 3,000 bales.

The gua,►rterly sales of East Indian indigo com-
menced yesterday. There was very little compe-
tition, purchasers showing great reserve, and prices
were 2d. to 10d. per lb. lower compared with the
rates realised in February; 1,461 chests passed, of
which 868 were sold, 620 bought in, and 273 with-
drawn.

The Seine, from the West Indies, has brought
£140,800 in specie:
The bullion operations at the Bank of England
yesterday were of :An unimportant character.
The Foreign Er•ehanges yesterday afternoon ex-
hibited a slight a.dvance in the rates on Paris and
Hamburg.
Gold is no'ff about 4-10ths per cent. dearer in
London tha•a in Paris, and about 3-10ths per cent.
higher here than in Hamburg.

A call of £1 per share becomes due to-morrow
on the London and Blackwall Railway, new shares.

A payment of 10 per cent. has to be made to-
morrow on the New Ottoman Loan.

The share list of the Laguna Mining Company
•vrill close to-morrow at 12 o'clock. Business is
reported in the shares at',—, prem.

CITY NEWS-THIS DAY .

Two O'CLOCK.

A very unfavourable movement has taken place
to-day in the market for English Securities, owing
to extensive sales based upon the upward tendency
of the rates of discount, and the expectation that
money will gradually become dearer. The effect
of the transactions entered into this morning has
been a decline of about / per cent, Consols
having receded to 931 1 for transfer, and 911 92,
leas the dividend, for the account. The New Threes
and the Reduced are 911 g ; India Stock is 2271
nod 229, and ditto 5 per Cent. is steady at 1081
1091; and Eichequer Bills have receded to 14s.
and 159. prem.
Foreign Securities are also very depressed.
Turkish 6 per Cents. have receded to 801 ; ditto,
1858, to 701; ditto New Scrip, to 21 prem.; Egyptian
to 11 21 prem. ; Mexican, to 311 32 ; Spanish, to
M ; ditto Certificates, to 81 1, Portuguese are
451 ; Dutch remain at 641 ; Brazilian, 1001 ; and
talian, 711. The Russian Loan is 1 1 prem.
In the Railway Share Market the dealings are
extremely limited, the preparations for the liquida-
tion of the account occupying the chief attention of
the dealers and speculators, and prices have exhi-
bited rather less firmness. Great Westerns, Lan-
,4eashire an d _Yorkshire, North Eastern (Berwick),
•:fandSouth Easterns have declined 55.; Caledonians
:and Eastern Counties improved ss.
The Foreign lines remain very inactive. Great
luxemburg realise 151; Dutch-Rhenish, 171 8 ;
Bahia and San Francisco, 171; Grand Trunk of
Canada have receded to 23; 241; Madras 5 per
Cents. improved to 1011 102 ; East Indian realise
1031 104 ; and Great Indian Peninsula, 1021.
Joint Stock Bauk Shares show no change of
importance. London Joint Stock realise 371; Lon-
don and South African 101 ; Bank of London 77
'Ottoman Bank have improved to 251 ; and Oriental
Bank to 511.
The Alliance Bank Shares are 51 prem. ;
Im-
perial 1 prem. ; Northern Counties 11 2 prem.;
British Columbian 1 prem, ; and Brazilian 21

prem. ,
In the Miscellaneous Market prices were almost
nominal. South Australian Land, however, were
tsteady at 321. 33; Rio de Janeiro Improvement,
fully paid, brought 26¢ ; and Electric Telegraph
declined to 100.

BIiITISH FUNDS--CLOSING PRICES.
Bank Stock . . 236
3 per Cont. Reduced Annuities 913/4 1 it
3 per Cent. Consols Annuities
New 3 per Cent. Annuities 9ll 3/4 i i
.In ia Stock
Ditto 5 per Cent . 1091 8/ 91
Ditto Enfaced Paper, 4 per Cent
Ditto 6 per Cent. ................ .
Ditto 53/4 per Cent .....'....
Ditto Debentures, 4 per Cent., Oct., 1863 100
'Consols for Account, June 10
'Consols'Exchequer Bills £l,OOO, 3 per Cent l5 14
VOREIGN FUNDS—CLOSING PRICES.
Brazilian, 5 per Cent.
. Ditto 4} per Cent., 1852-58-60 .:. 92t I
Buenos Ayres 6 per Cent
Ditto 1 per Cent. (Deferred 3 per Cent.) 353/4
Egyptian, 7 per Cent 1/ 21
Italian 5 per Cent. (Maremmana Railway)
Ditto Scrip
Mexican, 3 per Cent
Ditto Account
Portuguese 3 per Cent., 1853 4si i
Ditto 3 per Cent., 1856, '7, '9, and'6o 451 1-
Spanish 3 per Cent .. .
Ditto New Deferred
19
' Ditto Passive
Spanish Cert. of Coup. not funded
8
'I urkish 6 per Cent. 1854 03/4 1
Ditto 6 per Cent .1858 703/4
Ditto 1862 (Scrip) 2i 1 1
Ditto, Paid up Scrip 7O
Dlvidends on the above payable in London..
Dutch 23/4 per Cent., Exchange 12 Gull.
1
Italian 5 per Cent., 1861, ex 25f. 7ll 1
THREE O'CLOCK.
Consols, Money ............
923/4 lea div.
Ditto Account

ITENCH IKINI
NDSTE.RS VISIT TO
RICIIM. .

re Lona

----
'The Opinions A ationale offers the following ex-
planation of M. Mercier'e late journey to Rich-

" The visit had for its only object the preser-
.-vation of an immense provision of tobacco which
'had been purchased on account of the French
Government at Richpond and New Orleans. If
~our information is exact, the Government of
-Washington bad consented, in spite of the block-
ade, to allow the tobacco which is in store at
Richmond to leave. The authorisation of the
Southern Government was, however, at least in-
dispensable, and it was to obtain it that M.
Mercier's journey to Richmond was undertaken.
We are informed that he has completely failed
in his mission. The Confederate Government is
said to have declared that, after seeing the com-
mercial advantages offered in exchange for the
recognition of the Confederate States rejected by
Trance and England, the Southern Congress had
formally prohibited the exportation of tobacco
and cotton. The tobacco question is certainly
worth a journey to Richmond, whatever may be
said by certain journals. It has a real importance,
since the Government derives from it a revenue
of nearly 200,000,000 f.