The Sun.
London, England, 1862-09-27 00:00:00

MONEY MARKET.

CITY NEWS-YESTERDAY.

The arrivals of Russian gold this week have
amounted to about £lOO,OOO, the whole of which is
expected to be taken to the Bank.
The fact that the Bank bullion has experienced a
redaction of £1,300,000 since the end of July, when
the rate of discount was lowered to 2 per cent.,
might lead to the idea of an upward movement
being soon adopted, were it not for the evidence
afforded by the largeness of the Bang reserve of
unemployed notes that the commercial demand for
money is steadily diminishing. This reserve is now
£10,482,100, and is higher than at any previous
time since June, 1859, and £2,375,000 in excess of
the amount t which it stood at the corresponding
period of last year, when the rate of discount was
3 per cent., and C msols were about the same price
as at present. Although there is no foreign de-
mand for specie at this moment, the two or three
next weekly returns must be expected to show a
further falling off in the stock of gold, owing to the
withdrawals of coin for the usual quarterly Go-
vernment payments, and for the approaching divi-
dends.

Owing to the tenor of the American news the
cotton market was much firmer to-day, and the
fall of the week-Id. to id. per lb.—was recovered.
The sales were 5,000 bales.

The half-yearly dividend is announced as payable
on the 10th of October on the Turkish Six per Cent.
Loan of 1854. On the same day the bonds drawn
in July last for redemption, amounting to £42,550,
will be paid off at par.

The committee of the Stock Exchange have this
day authorised the " London Chatham, and Dover
Six per Cent. 2d Preference Stock" and the " Kent
Coast Six per Cent. B Shares" to be marked on the
official list. They have also appointed Wednesday,
the Ist October, a special settling-day in the shares
of the Italian Irrigation and Canal Company, which
are to be officially marked.
The half-yearly meeting of the Great Western
Railway of Canada is called for the 15th of October.

CITY NEWS---THIS DAY.

CITY, TWELVE O'CLOCK.

The money market is, in some respe3ts, rather
more active, although the amount of business nego-
tiated is still comparatively small. There is no
alteration in the rates at present, but greater firm-
ness is not improbable during the ensuing week,
owing to the provision that will have to be made
for the monthly liquidation of commercial accounts
and the various demands that usually occur at the
end of the quarter.

Since Monday last the imports of specie have
been about £280,000, and the exports £546,000.

The following with regard to American rock oil
is extracted from Messrs. J. Travers and Son's cir-
cular :—Next to the question regarding cotton sub-
Si the point that is now attracting most atten-
tion in trading circles is the rapid increase taking
place in the introduction of the oil obtained from
the spontaneous wells in Pennsylvania. The price,
which is now about £lB per ton, has exactly doubled
since the spring. This is said to be owing to the
,singular rapidity with which the consumption of it
is extending for illuminating purposes, the more
perfect system of refining having removed the pre-
judic eo excited by the accidents from inferior sorts,
and the light obtained from it being purer and
whiter than that of gas, while its price is con-
siderably blow that of oil. Turpentine is largely
extracted from it, which has been pronounced to be
of a much softer and more workable character as a
vehicle for painting than ordinary turpentine, and
is capable of being supplied in any quantity at far
lower prices, the quotations of the turpentine, which
has hitherto been principally derived from the pine
swamps of North Carolina, having seriously ad-
vanced during the American war. The use of the
material for the lubrication of machinery and other
services appears, likewise, to be on a large scale.
As the wells extend through a wide district, and
seem almost inexhaustible, while there are also a
great number, although of inferior quality, in
Canada, there may be no limit to the growth of the
trade, and some sanguine people are already begin-
ning to calculate that before many years are over
it will attain a point nearly as important as that
which had been reached by cotton at the beginning
of 1861,

Two O'CLOCK.

At Paris, this morning, the 3 per Cent. Rentes
obened at 69f. 62c., showing a fresh rise of I to
per cent. since yesterday.
Continued heaviness and inactivity are experi-
enced in the English Stock Market, and the few
transactions recorded have taken place at previous
quotations. Consols are 931 for money and ac-
count. The New 3 per Cents. and the Reduced
remain at 911 92 ; Red Sea Telegraph Annuities at
211; India 5 per Cent. Loan has receded to 1081 ;
and the 4 per Cent. Enfaced Paper is 94.
Foreign Securities are well supported, and busi-
ness has been moderately active. Turkish 6 per
Cents. are 852 861; ditto 1858, 67-1 681 ; ditto
New Scrip, 11 to 1-1- dis., and the CoLsolides, 37:
38 ; Mexican are steady, at 311 a ; Portuguese
Small Bonds are 461, and the New Loan Scrip re-
mains at 21 prem. ; Spanish are 541 ; ditto Passive,
21,2, 8, and are at the latest moment 221 ; ditto Cer-
tificates, 108; Italian have improved to 7018 ; and
Venezuelan are supported, at 28-1.
Business in the Railway Share Market has
continued dull, the dealers and speculators being
chiefly occupied with the half-monthly settlement,
and prices have remained without change of im-
portance. Great Easterns realize 451 46 ; Great
Westerns 654 ; Lancashire and Yorkshire 1087,1;
and South Eastern 83 to 831.

In the Foreign and Colonial undertakings there
has been a very limited business recorded, and
prices remain without change of importance.
Joint Stock Bank and Miscellaneous shares are,
in one or two instances, rather flatter. London
and County realize 364 ; Ottoman Bank 251 4 ;
City Bank 901 91; Scottish Australian 321;
Crystal Palace Stock 341 341; and Berlin Water
Works 573- 2.

The London and Colonial Bank Shares area 1
preen.

BRITISH FUNDS—CLOSING PRICES.
3 per Cent. Reduced Annuities
3 per Cent. Consols Annuities
New 3 per Cent. Annuities 9ll 2
Ditto (Red Sea Telegraph), Aug. 1908 214
India Stock
Ditto 5 per Cent loB}
Ditto Enfaced Paper, 4 per Cent 94
Ditto Debentures, 4 per Cent., Oct., 1863 1001
D tr,, Bonds ELMO
Bank Stock for Account
Consols for Account, Oct. 8 93/
India Stock for Account, 5 per Cent .... 104
June,. I March.
17 16

Exchequer Bills £l,OOO, 3 per Ct. ..
Ditto £5OO '

Ditto Small — I
FOREIGN FUNDS—CLOSING PRICES.
Brazilian, 5 per Cent —
_ Ditto 4i per Cent., 1852-58-60
Duenos Ayres 6 per Cent
lrEquaidor New Consolidated;
Po_, can, 3 per Cent
34
,olguese 3 per Cent., 1853 k I
, ,D ii
It
tt
eo
SBcmriapl ,l 115 p d
46/
Ditto 4i per Cent .
il.nssmn 6 per Cent 1822 £St •••• 2i 2
..
Spanish 3 per Cent *****************
*..
92
Ditto Passive., ******************************** : ****** 254 Spanish Cert. up1.832.0t funded
Turkish 6 per Cent.
Ditto 6 per Cent. 186834 * ; *************
g
Ditto 6 per Cent., 1862
**
********** p1i.,.X..5 ***********
61: 8
Scrip
...
uavavie.
idpuerpCent.
veDnietztou,oPina,
Dividends on the aLo;Z, in London.
Italian, 5
per Cent., 1861, Ex. 25C
Ditto Aco,ount :
... ...
TWO O'CLOCK.

Consol67 Money
Ditto Account

On Thur
MURDER OF A BRISTOL POLICEMAN.--
day morning, about three o'clock, death put an end to thes
sufferings of Christopher Wickham, the policeman who was
stabbed some weeks ago, on the Welsh Back, by, as it was
alleged, a man named Robert Morgan, who was apprehended
and brought before the magistrates, and by them remanded
from time to time on the charge of stabbing, to await the
time when the wounded man should be sufficiently reco-
vered to be able to appear against him. That time, how-
ever, never came, for the constable, though occasionally
rallying
in a slight measure, could not bear up against the
excessive loss of blood he sustained in consequence of the
Wound. An inquest was convened the same afternoon, and
after taking medical evidence, it was adjourned. The pri-
soner, who was brought up in custody, looked pale, and
appeared to feel the painful position in which he was placed
most acutely,— frostfrn ,DaWg Press.