The Sun.
London, England, 1853-10-08 00:00:00

MONEY MARKET

AND

CITY INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday
were estimated at 5,000 bales, including 1,000
taken on speculation. The market was quiet, but
dull. In Railway Shares there was less excitement,
and prices were -i to 1 per Cent. above Thursday's
rates.

One of the most important returns from the
Bank of England that we remember to have seen
for a considerable time, is that for the week to the
Ist instant. Whatever may be said of the sound-
ness, or otherwise, of Sir Robert Peel's currency
measures, no one can dispute that under their re-
straining influence, the Bank, with such a continu-
ous demand upon it, must use still more violent
measures to keep up the reserve of notes, and
has but two alternatives, to sell Government
Securities, or to raise the rate of discount.
If the amount of bills offering at the vari-
ous bankers were diminishing, there would be
breathing time afforded ; but when it is generally
asserted that from the moment the Bank Directors,
last Thursday, separated, without making a charge,
the demand for accommodation became more active,
it is difficult to understand how the charge can be
kept down to 5 per cent. On " call" a higher rate
is being allowed, although many firms dislike hold-
ing much on such occasions as these, liable to im-
mediate return. The increased amount of securities
which the Bank discounted, or made advances upon,
was in the week under review not far short of two
millions, notwithstanding the great increase that
has been going on in the same direction previously.
The reserve of notes, on the other hand, has been
diminished largely, and the public deposits are un-
usually small at this advanced period of the finan-
cial quarter. It is quite true there are ample
means to pay the dividend, and all other liabilities
of the Government, but the Chancellor of the Ex-
chequer in reducing his balance so low, deprives
the Bank of one source of strength, and of the
means of acting liberally to its customers. It is
pleasing to see the other deposits larger, and we
trust the bullion will in the next return show an
increase, as the Australian imports will come into
play. Compared with the previous week, the
changes are as follows :

Active circulation
Increase
Bullion
Decrease
Rest

£22,773,375
837,930
15,612,562
68,221
3,682,133
16,532
6,738,745
26,490
11,885,565
1,046,380
1,443,636
13,977
No alteration.
do.
19,124,799
1,981,476
6,258,520
871,915

Increase'
Public Deposits
Increase
Other Deposits
Increase
Seven-day and other Bills
Decrease
Government Securities
Decrease..
Other Securities
Increase.
Notes unemployed
Decrease

Bills of exchange were taken yesterday after-
noon at about the previous rates on the principal
Continental cities. Amsterdam, 90 days, 11 18
to 191 ; Paris, 25 371 to 421 ; Hamburgh, 13 7i-
to ; Frankfort, 1201 to 1 ; and Trieste, 11 20
to 25.

The amount of bills drawn here by the Honour-
able East India Company, during the fortnight
ending last evening, was 52,1811.
The monthly returns issued by the Board of
Trade are favourable in respect to exports, the
total to the sth ult. being 8,297,0861., or an in-
crease of 1,426,5001. over the corresponding month
of 1852. In all our principal staples there was an
augmentation. The imports are large, but this is
due mainly to the activity of our trade and the
large consumption of most necessaries by the work-
ing classes. In the shipping engaged in our foreign
trade there is a material increase, and British ves-
sels fairly participated.
In the week to Thursday last the amount of
gold exported direct from London was 26,120
ounces, and of silver 2,000 ounces.
ADVANCE IN THE INTEREST ON EXCHEQUER BILLS.
—lntimation has just been given that Government
has raised the interest on Exchequer Bills to 2d.
per centum per diem. In the present state of the
money market this is a wise determination, as
most bankers will give a preference to the un-
funded debt in doubtful times, if it yields anything
near the same return as Stocks.

A little money stock having been bought this
morning, Consols opened well, and have since fur-
ther improved, the Bears continuing to buy back,
while the speculators for a rise feel encouraged.
The foreign news is of a complexion which other-
wise, in conjunction with the Bank return, might
have had an unfavourable effect, but what the
Ministerial journal still asserts as to the Eastern
question being settled, outweighs facts from Con-
stantinople or elsewhere. Consols have been 92,
then 924, and since 92A for transfer. The account
prices have been 91/ to 921, and speculative trans-
actions are carried over " even" to November.
East India Stock has been done at 245 and 248.
Exchequer Bills are lis. discount.

In Foreign Securities very little has been doing.
Spanish 3 per Cents. have been marked 44k, and
the New Deferred 21i. Mexican Bonds have been
done at 24 to /. Russian 4/ per Cents. are worth
97, and Belgian 4/ per Cents. also 97 ; Dutch 2i
per Cents. are 62/.

- The English Railway Market has been advancing.
North Western are up 10s., Caledonian 10s. to 155.,
and South Eastern 15s. to 1/. French shares are
rather heavy still.
In the Gold Mines there has been a little done
at previoris rates, and the Banks and Land Com-
panies are firm.

BRITISH FUNDS THIS DAY.
(From the Official List.)
Business done.
3 per Cent. Consols Annuities' 92i 4 2 a
India Stock 247 8 5
India Bonds, £lOOO . ........ ........... .......
Ditto, under £lOOO 8 d
Consols for Account
Exchequer Bills, id.
£1000
2500 — d
Small 6 d
PRICE OF FOREIGN FUNDS THIS DAY.
Grenada Bonds, Deferred
Mexican 3 per Cent.
Russian Bonds, 1822, 5 per Cent. £ St —
Ditto 4; per Cent 97
Spanish Bonds, 3 per Cent 41,1
Spanish New Deferred, 3 per Cent
Dividends on the above payable in London.
Belgian Bonds 4i per Cent. ex. 25 fr
Dutch Exchange, 2h per Cent. 12 Guil 62i
Ditto 4 per Cent. Certificates..... 934 3 x d
TWO O'CLOCK.
92i
92i 4

Consols
Ditto October Account

LLOYD'S SHIPPING.-(THIS DAY.)

LONDON, Oct. B. Wind this day at Noon, N.E. ; light
airs and calm, with thick, hazy weather.
RAMSGATE, Oct. 7.—The Sutton, London to Havre,
which put in here leaky on the sth inst., must discharge.
COWES, Oct. 7.—Arrived—Alwina, Zanziba, and sailed
for Hamburgh.
WIVENHOE, Oct. 7.—The Lord Hill, of Sunderland, has
been assisted in leaky.
SHIELDS, Oct. 7.—The Northumberland screw collier is
on shore on the Dotwick Sand.

SUNDERLAND, Oct. 7.—The Harewood, of London, is
reported to have been run down by a steamer near the
Nore, on the 4th inst. ; master and cook only saved.
POOLE, Oct. 7.—Wind, N.E. Sailed—Nymph, New-
foundland.

FALMOUTH, Oct. 7.—Wind, N., light. Arrived—Joven
Agostino, Havannah. Sailed—lda, Quebec. Off Port—
Wielund Herm, New York.—A brig, waterlogged and
abandoned, long boat on deck, painted green, top of the
round-house painted yellow, was passed on the 26th ult.,
in lat. 49 N., 27 W.

MILFORD, Oct. 6.—Wind, N. by E. Sailed—Renovator,
St. John's, N.B. i Kingston, do.
GLOUCESTER, Oct. 7.—Sailed—Charles, New Orleans.
PORT TALBOT, Oct. 7.—Wind, N.E. Arrived—Empire,
Quebec.

SWANSEA, Oct. 7.—Wind, N.W. Sailed—Marquereta,
Ceylon ; Louis, Cape of Good Hope.
JERSEY, Oct. 6.—Willa, N.N.W. Arrived—Ceres,
Honduras.

CLYDE, Oct. 7.—Sailed—Glasgow (s.s.), New York.
WATERFORD, Oct. 6.—Wind, N.W. to N.N.E. Ar-
rived—Frances, St. John's, Newfoundland.
QUEENSTOWN, Oct. 6.—Wind, calm. Arrived—Alpha,
Labrador. Sailed—Zephyr, Alexandria, U.S. ; lowa,
New York.

AMSTERDAM, Oct. 6.—The Hactienne, St Domingo to
Hamburgh, is on shore on the North Flasks, in a very
dangerous position ; crew saved.
REVAL, Sept. 30.—The Matura, Sunderland to Cron-
stadt, has been totally wrecked on the Neekman's Ground,
off Dagoo ; crew saved.—The Prospect, Cronstadt to Lon-
don, has put into Bailie port leaky, and would discharge
and repair.—An English vessel, laden with coal, has been
lost on the Island of Stoneskar.

(BY SUBMARINE AND EUROPEAN TELEGRAPH.)
DEAL, Saturday, 9.15 a.m.
Wind, S., light, and cloudy. Sailed—The Bank, for
Aquilas. Put Back—Joseph Hume, for Bristol. Anchored
—Ocean Wave, from London, for St. Vincent; Eclipse,
bound to Madeira, in the Gull.

JUNIOR UNITED SERVICE CLUB.—It is in contempla-
tion to purchase the Duke of Buckingham's late resi-
dence, Chandos-house, Pall-mall, for the site of the
Junior United Service Club ; in which event, Chandos-
house will be taken down, and upon the ground a new
and magnificent structure will be erected. The present
building in Charles-street is totally inadequate to ac-
commodate the members of a club numbering nearly
two thousand officers of the Queen's and Company's ser-
vices and the militia.—British, Army Dispatch.