The Sun.
London, England, 1862-10-13 00:00:00

MONEY MARKET.

CITY NEWS-THIS DA/.

CITY, TWELVE O'CLOCK.
The payment of the October dividends thus far
has not produced much apparent effect upon the
general money market, which continues firm and
moderately active. There does not appear to be
any material increase in the transactions of the
trading classes, who for the most part regulate
their proceedings by the immediate demands of the
home, foreign, and colonial markets, but discounters,
influenced probably by the continuous decline in
the Bank's bullion, seem less inclined to negotiate
business at the current rates, and some of
the country bankers who, a short time
ago, forwarded their surplus supplies for tem-
porary emFloyment in the London market, are now
recalling them to meet present wants or to provide
for an expected augmentation in the requirements
of their customers. Although the tendency, how-
ever, has latterly been in the direction of greater
firmness, the alteration is more perceptible in the
tone of the market than in the movement of quota-
tious, which continue to range as low as 11 per
cent., although 2 per cent. is the average charge for
first-class three months' bills.

The arrival of upwards of half a million sterling
has beer, announeed this morning, viz., £46,980 by
the Arabia from New York, £153,948 by the Atrato
from the West Indies, and £312,764 by the Kent
from Australia.

The accounts from the manufacturing districts,
during the past week, were of a less satisfactory
character. At Manchester the operations in both
cloths and yarns were very limited, but full rates
were current. The woollen trade of Leeds, Brad-
ford, and Huddersfield continue steady, but rather
more activity has prevailed at Nottingham and
Leicester in several branches of the hosiery and lace
trades. In the hardware districts, viz., at Bir-
mingham, Sheffield, and Wolverhampton there has
been little change of importance to record.

Two o'CLoczt.

The market for English Securities has presented
a rather dull and heavy appearance, although no
change worthy of notice has occurred. Specula-
tion in this department is still very much re-
stricted, while bona fide investments are also
Consols are 93 -1 for money, and 93i 94
for the 6th proximo. The New Three per Cents.
have receded to 921-f the Reduced to 92; Exche-
quer Bills, June, are 20s. prem. ; and ditto, March,
18e. to 21s. prem., showing no change. Bank
Stock has receded to 236* ; India ditto to 228; and
the 5 per Cent. Loan is steady at 1081 1091.
Business in the Foreign Market has been rather
quiet, and prices have shown no important varia-
tion. Turkish 6 per Cents., 1854, are 82 83, ex
;" ditto 1858, at 68i 69 ; ditto, New Loan
671 68; and the Consolides, after rising to
391, have since receded to 38/ a ; Mexican
are flat at 334 ; Egyptian, 88: ; Peruvian
New Scrip, 1: dis. ; Portuguese 2,4 prem. ; Rus-
sian ditto, 1-I I prem. ; Spanish Passive 22: ,1; and
ditto, Certificates 91 10; Italian remain at 73 a 4 ;
and Venezuelan are 291.

In the Railway Share Market the dealings have
not been very extensive. Prices, however, remain
without material variation. Caledonians, Mid-
lande, and North Eastern (York), have declined
about 55.; and South Easterns, 10s.; Great Nor-
thern A Stock declined 10s.; and Brighton and
North Westerns, ss.

In the Foreign and Colonial undertakings there
has been very little change. Bahia and San Fran-
cisco realise 20; Recife and San Francisco, 181;
Cape Town and Dock have improved to 104 ; and
East Indian remain firm at 1061.
Joint Stock Bank and Miscellaneous Shares
are, in one or two instances, a shade firmer. Al-
liance of London and Liverpool realise 18i ; Lon-
don and South African, 224 ; Metropolitan and
Provincial, 111 12 ; and Electric Telegraph, 102.

BRITISH FUNDS-ONR O'CLOCK.
Bank Stock
3 per Cent. Reduced Annuities
3 per Cent. Consols Annuities
New 3 per Cent. Annuities ci2l 2
India Stock
Ditto 5 per Cent.
I)itto Enfaced Paper, 4 per Cent —
Ditto 5 per Cent ...
Consols for Account, Nov. 6 93k
June. March.
Exchequer Bills £l,OOO, 3 per Ct. .. 20 18
Ditto £5OO

Ditto Small
FOREIGN FUNDS—ONE O'CLOCK.
Brazilian, 5 per Cent.
Ditto 41 per Cent., 1852-58-60
Egyptian, 7 per Cent., Scrip BBl
Italian 5 per Cent. (Nlaremmana Railway) 73/
1.44, xican, 3 per Cent
.New Grenada, 2 per Cent —
Ditto ex over-due Coups. and Hectares 101
I oruvian 41 per Cent .. --
Ditto 41 New, 1862, A Scrip, £33 paid .. 11
Portuguese 3 per Cent., 1853. . —
Ditto Scrip, £l5 pd 2i
iiictsian 5 per Cent 1822 £ St —
Ditto 4t per Cent 921
Ditto 5 per Cent.,1862, Scrip, £32 18s pd. lt /
Ditto Paid up Scrip....
Spanish 3 tier Cent
Ditto New Deferred
Ditto Passive... 22a i
Spanish Cert. of Coup. not funded: 9/ 10
Turkish 6 per Cent. 1854
Ditto 6 per Cent. 1853 .. 68j 9
Ditto, Paid up Scrip 671 1
Venezuela, per Cent.
Dividends on the above payable in London.
Italian, 5 per Cent., 1801, Ex. 25f.
Ditto Account
Peruvian Dollar Bonds, 41 per Ct. Es. 4s 731
TWO O'CLOCK.
931 1
Consols, Money
Ditto Account

TELEGRAPH ROUND THE WORLD.—The Pacific
Telegraph Company have erected their wires between the
Missouri and the Sierra Nevada, a distance of 1,600 miles,
and thus completed the telegraphic communication between
the Atlantic and Pacific in four months and seventeen
days. The company have entered into an agreement with
the Emperor of Russia, by which, conjointly, they will
construct a continuous line through British and Russian
America, across Behring Straits, and through Asiatic and
European Russia, so as to connect Petersburg and Wash-
ington. This line will be 14,000 miles in length. Russia
has already completed 3,500 miles, and collected materials
for
extending the wires from Siberia to the mouth of the
Amoor, the Mississippi of Asiatic Russia.
The population of Michigan has grown in 20
years from 212,000 to 751,000; the value of real estate from
38,000,000 to 263,000,000 dollars; the wheat and other
grain grown from 7,000,000 to 25,000,000 bushels; the
wool produced from 153,000 to 4,000,000 pounds ; the num-
ber of sheep and cattle reared from 300,000 to 1,700,000;
and the quantity of hay grown from 130,000 tons to 761,000
tons.
MR. GLADSTONE'S SECESSION SPEECH.—We are
enabled to state (says the Manchester Commercial Daily
_List of Saturday) that in the highest political circles there
is no anticipation of an immediate recognition of the
Southern Confederacy by this country. The subject has
recently again been very seriously discussed by the French
Cabinet, but it is highly improbable that they would take
separate action and depart from the understanding which
has hitherto existed between the respective governments.
Mr. Gladstone's remarks may therefore only be regarded es
an expression of the opinion which he shares in common
with the general public, that the South must now be re-
garded as a nation, but it would be erroneous to infer that
anycfficial recognition of that fact has yet been decided on,
ri
a eaconATß OF ARCHDEACON THORPE.—The Arch-
of Durham and Warden of Durham University,
Charles Thorpe,
the advanced a D.D., died at Ryton on Friday night, at
golden stall"
other ecclesiastical Dr. Thorpe, besides holding " a
iguebofu7rh9.am Cathedral for many years, with
aapypeoairntraents, was rector of Ryton,—a
living worth £956
The New York quoi
the 2d inst., just received by t°llB
of
a deeyrthe Arabia, appear contradic-
gold and silver on
tory. They announce
than 3 per cent, in the rate of to
22t,
mum on gold—namely, fromin2e3lof per cent, in the pre-
and a rise of more
ntgiolladuand the rate of ex-
ge—namely, from
exact accordance, such a
132 a to 1351. As the premium o
change usually move in almost
discrepancy as this would show that the temptation
!s, pbtition for rein-
-
mitters to send gold to Europe, instead o
creased 41 per cent. as compared with the quotationslihad
last steamer—a difference so wide as to lead to the by
the
'lion that there must have been a mistake in the
Supposing this not to have been the case some large.
g
vals of specie may be expected by the next packets. arn-
We read in the United Service Gazette A
rumour has reached us to the effect that disturbances
somewhat similar to those which some time since gained
as 'unenviable a notoriety for Woolwich, have recently
broken out amongst the cadets at Sandhurst. A great
mystery is, as usual, sought to be preserved, both as to the
causes and the results of this reported enseute, but we un.
d
erstand that a court of inquiry commenced its sittings on
Saturday last."
Father Pantaleo, Gariiptadi's .baplain,
who was
arrested at Naples, has been set at liberty,