The Sun.
London, England, 1862-06-23 00:00:00

MONEY MARKET.

CITY NE W S-SATURDAY.

According to the private telegrams this afternoon
from, New York by the Europa, the New York
stock-market had experienced a further average
advance of 1 per cent., but as the premium on gold
had at 4he same time risen to and the rate of
exchange to 115*, the movement is of no actual
importance. The introduction of the. anticipated
bill for a fresh issue of £30,000,000 of inconvertible
p. per is already announced.

- Large operations in cotton, for home consumption,
export, and speculation, continue to be reported
from Liverpool. The transactions of the present
week have been to the extent of 124,000 bales at
Liverpool, and 18,000 bales at London, and the in-
terest in the question of the future supply is daily
becoming more intense, The total stock of raw
cotton at Liverpool this time last year was 1,107,000
bales ; the present stock is 260,000 bales. The
quantity afloat from the East Indies to Liverpool this
time last year was 246,000, against 220,000 afloat at
the present time, and the reported quantity afloat
from America last year at this time was 125,000
against none at the present time. France, it appears,
is velatively even worse off than this country, as
her stock this time last year was 332,000, and her
present amount is only 44,000. It is assumed that
the weekly consumption for the United Kingdom,
at the reduced rate of working is still 30,000 bales,
and we have also been exporting weekly at the rate
of 14,000 bales.

The excitement in tho Liverpool cotton market
continues. The transactions to-day were to the
extent of no less than 20,000 bales, and Surat sorts
Were quoted at a fresh rise of Id. to id. per lb.
The scrip of the new loans has experienced little
change. Turkish was quoted 31 to 3i prem.;
Egyptian, 21 to 21 prem.; and Russian, d to fi
prem.

Proposals have been issued for subscriptions for
£BOO,OOO preference 9 per cent. shares of the Varna
kiilway Company. The total capitalof the company
is £2,000,000 (X 1,600,000 in shares and £400.000
in debentures) on which the Turkish Government
guarantee 6 per cent. The increased rate offered on
the present shares will be made up by an arrange-
ment, under which the other shareholders forego 3
per cent. of their guarantee. The line is 116 miles,
and will run from Rustchuk, on the Danube, to
Varna, on the Black Sea, and thus by connecting
with the existing steam lines on-those waters will
complete the route from London to Constantinople,
and reduce the distance between the two places to
four and a half days. The part of Bulgaria to be
traversed by the railway is rich and well populated,
and the line will also attract the traffic of Wallachia,
while it is also of importance in its bearing on our
prospects of future communication with the East,
by the valley of the Euphrates.
In the market for bank shares the only change
'AS a rise in Ottoman.
Abgut £56,000 in bar gold was bought by the
Bank to-day.
According to an official statement just furnished
the importations of wheat and flour into this country
in the nine months from the Ist of September last
to the Ist of the present month amounted to
4,919,344 quarters of wheat and 4,236,456 cwt. of
flour. Thirty-five per cent. of the wheat and 74
per cent. of the flour were obtained from the United
States.' The aggregate value of these importations
was about £17,000,000 or £18,000,000, and of that
of the American portion about £8,000,000. In the
same period we have imported from the United
States about £3,000,000 worth of Indian corn.
The Turkish Bondholders' Committee have ascer-
tained that the sum of £65,000 is in the hands of
the Ottoman Bank in London, on account of the
dividend on the Turkish loan of 1858. Holders of
paid-up scrip for £lOO (in exchange for which
bonds are not yet ready) in the New Turkish Loan
are to lodge it at the Ottoman Bank, in order to
claim the dividend due the Ist July.
The rates of discount are sustained with more
difficulty now that the bullion movement has be-
come favourable. Transactions in good short bills
take place at 2f, to 21- per cent.
At Paris to-day the Three per Cent. Renter
opened at 68 30, and closed at the same quota-
tion, both for money and the account, being about
the same as yesterday.
We are informed that the United Kir gdom Elec-
tric Telegraph Company's bill, which has been
before Viscount Enfield's committee since Tuesday
last, has been passed without any material altera-
tion in the clauses.
It is said that a Portuguese loan for about
X 2,000,000 sterling will be introduced here in the
course of next week.

CITY NEWS---THIS DAY .
CITY, TWELVE O'CLOCK.
During the past week more activity prevailed in
several branches of business throughout the manu-
facturing districts. There was an improved demand
for both cloths and yarns at Manchester, and prices
have shown an 'upward tendency. The woollen
trade of Leeds has been more animated, and pur-
chases to some extent were made for both home use
and for exportation. At Bradford, Halifax, and
Huddersfield, a steady business has been done in
seasonable goods, and orders on French account
have slightly increase& The hosiery and lace trades
of Leicester and Nottingham have continued active,
but in the hardware districts, viz., at Birmingham,
Sheffield, and Wolverhampton, little change of im-
portance can be recorded. The iron trade of South
Staffordshire has shown a slight improvement.
The half year's interest is announced for payment
on Cape of Good Hope 6 per cent. Debentures,
Victoria ditto, New Zealand ditto, Queensland
ditto, New South Wales 5 per cents., and South
Australian Government Bonds.

CITY, Two o'cLocx.
The demand for money, which exhibited a further
diminution towards the close of last week, has
slightly revived to-day ; but the market, neverthe-
less, retains an exceedingly quiet appearance, and
the rates continue easy. Superior bills of three
m not id onths' date are negotiable at 214 per cent.; but it
ro
is pbable that a little more activity and
firmness will temporarily prevail owing to the usual
quarterly disbursements, and the at
will follow for the settlements
at the pa
Stock E rations th
xat
change -
and the monthly liquidation
of commercial
accounts.

Continued quietude has pervaded
Stock Market to-day, and very little alterthation English
rat'aonsfhas
taken place in prices. Consols are 91-t for transfer
and 911 for the account, Speculation continueers,
very dull, and the number of transfers is too limited
to create animation. The New Threes and the
Reduced are flat at 911 a ; Exchequer Bills remain
at 3s. to 6s. prem. Bank Stock is heavy at 234
and 235; but the 5 per Cent. India Loan is firm at
1081

No material alteration has taken place in the
Foreign Market, and the dealings have been of a
Scrip
moderate character. Turkish 6 per Cents are 821
83; ditto, 1858, 701 / ; ditto New Scrip
is firm at
Z- Prem.; Egyptian
at 21 3 prem. Mexican are
steady at 271 i ; MoOrish at 96 ; Italian Cents.
5 per
at 71Z- 721; and Venezuelan 241. Russian
has declined to 1 1 prem.
Increased heaviness has prevailed in the Railway
Share Market, and prices have receded about
1, to
1 per cent. Great Northern A Stock and Lanca-
shire and Yorkshire have declined 55.;
Eastern
Counties and North-Eastern York, 10s., and Great
-Westerns, £l. Manchester, Sheffield, and Lincoln,
and South-Easterns, however, have improved 55.,
and Caledonians, 10s.
been The Foreign and Colonial undertakings have
dull, without any material change in value.
Great Luxembourg remain
Royal Danish steady at 131 14 ;
at 151 ; Great Western of
Canada 111 ; East Indian have improved to 106 I
1 ; and Bombay and Baroda have
declined 102/ 103.
Joint Stock Bank and Miscellaneous Shares
remain without change of importance as regards
prices. London and Westminster realise
79,1 ;
Ottoman Bank 241; Alliance of London and
Liverpool 31 41 ; and London and Brazilian have
declined to Si; Crystal Palace Stock has improved