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

MONEY MARKET.

CITY NEWS-SATURDAY.

According to the private telegrams this afternoon
from New York by the Europa, the New A ork
stock-market had experienced a further average
advance of 1 per cent., but as the premium on gold
had at the same time risen to 51 and the rate of
exchange to 1151, the movement is of no actual
importance. The introduction of tie 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 Liver pool 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 relatively 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 the 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 33 to 31 prem.;
Egyptian, 21 to 21 prem.; and Russian, to
prem.

Proposals have been issued for subscriptions for
£BOO,OOO preference 9 per cent. shares of the Varna
Railway Company. The total capitalof the company
is £2,000,000 (.£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 Rustchnk, 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
Was a rise in Ottoman.
About £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 let of September last
to the Ist of the present month amounted to
4,919,344 quarters of wheat and 4,236,466 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 £8,000,0:30. 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 S.:100 (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-
came favourable. Transactions in good short bills
take place at 2,1 to 21t 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 Kingdom 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
£2,000,000 sterling will be introduced here in the
catirse of next week.

CITY NEWS-THIS DAY -
CITY, TWELVE O'CLOCK..
During the past week more activity
several branches of business throughout the manu-
prevailed m
facturing districta. There was an improved demand
for both cloths and
have shown an u yarns at Manchester, and prices
The woollen
Upward tendency. 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
He uddersfield, a steady business has been done in
se.sonable goods, and orders on French account
have slightly increased. 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 sitown a slight improvement.
The half year's interest is announced for payment
on Cape of Good Ho 6
Victoria per cent. Debentures,
ditto, ditto pe , New Zealand ditto, Queensland
lv''-‘eW South Wales 5 per cents., and South
Australian Government Bonds.

CITY, Two O'CLOCK.
The demand for money, which exhibited a further
`diminution towards the
slightly revived to-day ; but the market, neverthe-
less, retains an exceedingly quiet appearance and
the rates continue easy. Superior bills of three
months' date are
negotiable at 21 per cent.; but it
is not improbable that a little more activity and
firmness will temporarily prevail owin
q g to the usual uErterly disbursements, and the
preparations that
will follow for the settlements
at the Stock Ex-
change and the monthly at
of commercial
accorluts.

Continued quietude has pervaded the English
Stock Market to-day, and very little alteration has
taken place in prices. Consols are 9l?,- for transfer,
and 91 for the account Speculation continues
very dull, and the number of transfers is too limited
to create animation. The New Threes and the
Reduced are flat at 91-1- ; Exchequer Bills remain
at 3s. to 6s. prem. Bank Stock is heavy at 234
and 235; but the 5 par Cent. India Loan is firm at
108 i

,No material alteration has taken place in the
Foreign Market, and the dealings have been of a
moderate character. Turkish 6
per Cents are 821
83 ; ditto, 1858, 701 ; ditto New Scrip is firm at
3i Prem.; Egyptian at 27 3 prem. Mexican are
steady at 27 • .
g Italian at 71i 721 , Moorish at 96 ; 5 per Cents.
• ; and Venezuelan 241 Russian Scrip
has declined to prem.
Increased heaviness has prevailed in the Railway
Share Market, and prices have receded about 1 to
Per cent. Great Northern A Stock and Lanca-
shire and Yorkshire have Counties and North- declined 55.; Eastern
Eastern York, 10s., and Great
Westerns, £l. Manchester, Sheffield, and Lincoln,
and South-Easterns, however, have improved Se.;
and Caledonians, 10s.
The Foreign and Colonial undertakings have
been dull, without any material change in value.
Great Luxembourg remain steady at 131 14 ;
Royal Danish at 151 ; Great Western of
Canada 111- •; East Indian have improved to 1061 ;
and Bombay and Baroda have decli
Joint Stock Bank ned 1021 103.
and Alitcellaneous Shares
remain without change of importance as regards
prices. London and Westminster Ottoman Bank realise 791 ;
241 ; Alliance of London and
declined to ;
Liverpool 34 41 ; and London and London
have
Crystal Palace Stock has improved