The Sun.
London, England, 1862-03-24 00:00:00

MONEY IILfRKET AND CITY NEWS.

CITY, Two o'Ctocri.

The accounts from the manufacturing districts

during the past week state that little change of
importance has taken place in the general progress
of business. At Leeds moderate transactions have
been entered into in light cloths for the home demand,
While at Bradford, Halifax, and Huddersfield there
has been little variation to report. At Manches-
ter the receipt of favourable accounts from India
has caused increased firmness in the value of both
cloths and yarns. The hosiery and lace trades at
Leicester and Nottingham, however, have been
more active, and in the hardware districts—viz.,
of Birmingham, Sheffield, and Wolverhampton,
symptoms of returning animation have appeared.
Continued quietude prevailed in the Liverpool
Cotton Market on Saturday, but prices were well
supported. The sales were estimated at 3,000 bales.
A further sum of £46,000 in gold was purchased
by the Bank authorities on Saturday.

There is a steady demand for discount accommo-
dation in the general Money Market, but no alte-
ration of importance is perceptible in the current
quotations, which are still kept sufficiently below
2-'5. per cent. to prevent much of the paper on offer
being taken to the Bank of England. Owing to
the excessive supplies of floating capital, it is stil
thought that the direeors of that establishment may
soon be induced to adjust their minimum at 2 per
cent., especially as the available resources of the
market will be shortly augmented to a large extent
by the payment of the April dividends.
At the annual meeting of the British American
Land Company to-day, the report of the directors
stated that the sales of unimproved lands were
16,417 acres for £12,034 15s. 9d. sterling, being at
'the rate of 14s. Bd. per acre, showing an excess in
both acreage and price over the preceding year,
and in price alone, over any former year. The
Purchases of the year have been 4,937 acres for
£984 19s. Bd. sterling, or at the rate of about 4s.
Per acre. They are all well selected lands, in good
situations, and of good quality. Of these 4,000
aiTes, consisting of lauds intermixed with those of
the nompany, were bought of the Crown at public
sale in November last. The profits of the year
have increased the surplus of assets over liabilities
to the sum of .£39,129 153. 11d. sterling.
The half-yearly meeting of the proprietors of the
Back of Australasia took place to-day. The
directors' report, which was carried, recommended
a dividend at +he rate of 6 per cent. per annum, or
248• per share, and a bonus at the rate of 61 per
cent. per annum, or 265. per share, free of income
tax, being together £2 10s. per share, or at the
rate of 122 per cent. per annum.
The contractors for the new Turkish Loan have
z'oNi completed their arrangements, and the terms
have just been made known. Shares at 21 to 3
Per cent. prem.
A decline of fully;, per cent. has taken place in
the English Stock Market to-day owing to several
sales on speculative account, partly based upon the
impending negotiation of the Turkish Loan. The
intimation tat the necessary preparations have been
Completed, ha.s induced some of the operators who
bought at lower prices to realise profits, and Con-
aols have receded in consequence, viz., to 94, 944-,
both for money and account. The New Threes
are fiat at 921 1, the Reduced, 94- ; and Exche-
quer Bills at 17s. to 21s. prem. ; India Stock is firm
at 224 and 2.26 ; ditto 5 per Cent. at 1084 109.
A. fair amount of business has been transacted
in the Foreign Market. Turkish Bonds have been
buoyant, the old 6 per Cents. being 86 to 862; and
the Loan of 1858, 721 ; the 4 per Cent. guaran-
teed have improved to 103; Venezuelan to 25 ; and
Spanish to 531- ti; ditto Passive are 191 ; and the
Certificates 6i 7 ; Italian 5 per Cents. are 661 67.
A moderate amount of business has been recorded
in the Railway Share Market, but a pressure of
speculative sales has caused less firmness in quota-
tions. Eastern Counties and Great Westerns have
l'eeeded ss. ; Lancashire and Yorkshire, and Cale-
donian, 10s.; Midlands, 15s. ; and South-Easterns,
The Foreign and Colonial undertakings have
remained At steady prices. Bahia and San Fran-
cisco have advanced to 181 ; San Paulo to 7*;
Great Western of Canada to 131 ; East Indian
realise 1041 ; Great Indian Peninsula, 1024.
Joint-Stock Bank and Miscellaneous Shares
generally support previous values. Ottoman Bank
are dealt in at 241 25 ; Union of Australia at 464 ;
Bank of London, 801 81 ; Crystal Palace Stock,
674; and Peninsular and Oriental Steam, 681 69.

13RITISR FUNDS—ONE O'CLOCK.
Bank Stock ......... Shut.
3 per Cent. Reduced Annuities ....... . • 921
3 per Cent. Consols 'Annuities 94h / 3/ 4
New 3 per Cent. Annuities 921 1
India 6tock 221 d
Ditto 5 per Cent.
Ditto Effaced Paper, 4 per Cent 9l
Ditto 5 per Cent. lO3l
Ditto Debentures, 4 per Cent., Oct., 1863 100
Ditto ditto April 1864 100
Ditto, Bonds £l,OOO
Ditto under £l.OOO
Consols for Account, April 10 9lh / 4
,
--aChequer Bills £l,OOO, 3 per Cent lB 17
Ditto £SOO
Ditto Small
FOREIGN FUNDS—ONE O'CLOCK.
Milian 6 per Cent
Italian, 5 per Cent. Plaremmana It. Scrip) 11
ear Grenada, 2 per Cent
l'erurian 41 per Cent
~, Ditto 3 per Cent ,
-:.llittu Account
X'ortuguese 3 per Cent., 1853
Ditto Account
Ilassian 5 per Cent. 1822, £ St ..
Ditto Account
Ditto 41 per Cent 9l
Spanish 3 per Cent
Ditto Account
Ditto Passiveß
panish Cert. of Coup. not funded
Turkish 6 per Cent. —
Ditto Account
Ditto New Loan
Ditto Account
Ditto Guaranteed, 4 per Cent.
-,,,, 103
' cuezuela, 3 per Cent • •
Ditto Account
Dividends on the above payable in London.
Italian, 5 per Cent., 1861 .... 661 7 61
TWO O'CLUUK.
• Consols, Money • 94 4
Ditto Account ..... ...