The Sun.
London, England, 1853-12-17 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 7,000 bales, of which 1,500 were taken
for export and on speculation. The market closed
steadily, but without animation. Railway shares
were very dull, owing to the resignation of Lord
Palmerston.

The improvement in the position of the Bank of
England, noticed on this day week, is still observ-
able, and there was not alone an addition to the
assets during the week to the 10th inst., but like-
wise a great change in the Government. It is
scarcely within our recollection that the Public
Deposits were so largely increased in a similarly
short period, and it is very improbable that
revenue receipts should be the cause. We come,
therefore, to the conclusion named when last
we analysed the Bank return, viz., that the Chan-
cellor of the Exchequer since the stock market
became buoyant, has been enabled to sell unfunded
debt, or that the Bank, which holds such a much
larger amount of Government securities, has taken
them of him. All this is in favour of an easier
money market, because it lessens the probability of
Mr. Gladstone having hereafter to come in as a
borrower and competitor with the merchant. The
demand for money has certainly abated since the
" fourth " of the month, although yesterday there
was stated to be a little more inquiry, but since
commercial operations are always drawn into a
narrower circle towards the close of the year, we
shall not expect any great increac'e in the demand,
until January, when heavy payments fall due. It
is customary to strengthen balances, so as to look
well at the bankers at this season, and we presume
this will yet occur, although last week the private
deposits were smaller. The ability of the Bank to
afford accommodation is more conspicuous, its re-
serve of notes and bullion together, showing an in-
crease of 623,1121. Compared with the previous
week, the changes are as follows :

Active circulation
Decrease
Bullion
Increase
Rest

£21,045,460
160,340
15,341,294
248,727
3,181,817
6,191
10,027,166
2,367,242
10,910,077
570,085
1,192,741
34,171
15,043,730
1,421,691
16,525,237
61,581
7,575,175
374,385

Increase
Public Deposits
• Increase
Other Deposits
Decrease
Seven-Day and other Bills
Decrease
Government Securities
Increase
Other Securities
Decrease
Notes unemployed •
Increase

There was no change of importance yesterday
afternoon in the rates for bills upon the principal
continental cities. Paris, 90 days, was taken at
25 271 to 30 ; Amsterdam, at 11 15i to ; Ham-
burgh, at 13 5 to 51; and Trieste, at 11 34 to 38.
The amount of gold exported from London dur-
ing the week to. Thursday last was 9,000 ounces
and 1201., and of silver 156,800 ounces and 3901.,
all to Belgium, Germany, Holland, and France.
The letters by the overland mail have been de-
livered, and they are considered to be more satis-
factory in reference to the import markets in our
Indian possessions.
The funds have been very steady, and there is
less activity. Consols have been 94f g, having
closed " after hours" yesterday at only 94 to t.
Exchequer Bills have realised 3s. to 6s. premium,
and India Bonds par. The New 3i per Cents.
have been quoted 951 to 96k, and the 3 per Cent.
Reduced 94-a to The favourable bank return
supports prices.

Foreign Stocks have been very dull. Peruvian
have further declined 2 to 3 per cent. upon the
fuller exposure iu the columns of a contemporary, of
the facts to which we have indirectly adverted
lately respecting the conduct of the Government at
Lima, and its attempt to foist part of the bonds
representing its domestic debt upon the European
markets, by means of arrangements with firms here,
and in Paris. The extravagant administration of
its revenues, and the wanton admission of exorbi-
tant claims for alleged injuries to property during
the war of independence, are also circumstances
calculated to impair the credit of the Re-
public, though if the bondholders move
energetically, we may hope the evil will at least be
arrested. A good committee should be formed
without delay. The Four-and-a-half per Cent.
Stock has been done at 64 ; Mexican Bonds are
firm, at 24i ; Russian Four per Cents. are 981 ;
Dutch Four per Cents, have been 95i.
Railway Shares have been very steady generally,
but not brisk, as regards the English lines, while
the French are merely nominal.

The Gold Mine Shares are very quiet, and also
the Banks. The#Land Companies keep at the
previous rates.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)

Business done,
i per Cent. Reduced Annuities Ma a
New 3i per Cent. Annuities 96 5 6i
Long Annuities, Expire sth Jan., 1860
India Bonds, .000 ....... .....
Ditto, under £lOOO par
Consols for Opening 18th Jan. 94i a
Exchequer Bills, I.d.
£1000
2500 p
Small 6 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK
Grenada Bonds, Deferred
Mexican 3 per Cent.
Peruvian Bonds, 41 per Cent. 64
Russian Bonds, 1822, 5 per Cent. £ St —
Ditto 41 per Cent 9B,}
Dividends on the above payable In London.
Dutch Exchange, 21 per Cent. 12 Guil
Ditto 4 per Cent. Certificates ....
TWO O'CLOCK.
Console for Opening 18th January 941 = d