The Sun.
London, England, 1856-12-09 00:00:00

MONEY MARKET

AND

COPIIII/17,',,C1A.T, TYTELLI GET

4TY, Two o. 4 )1,00
The Liverpool Cotton Market yesterday closed
quietly, but very firmly, and prices of all kinds
were unchanged. The sales were 8,000 bales, 1,000
of which were taken for export. In the Railway
Share Market a steady feeling prevailed, and prices
were a shade easier than on Saturday last.
Business in the colonial produce market this
week has commenced quietly, but a moderate num-
ber of public sales are advertised. The following
information with reference to the tea trade is taken
from Messrs. Layton, Herbert, and Company's
monthly circular. The stock in the United King-
dom appears heavy, it being 83,403,000 lbs.,
against 65,868,000 lbs. last year. The deliveries
have fallen off, and are likely to be on the decline
to the sth of April, when the reduction of 6d. per
lb. in duty is to take place, and then we confidently
look for a very great increase in the consumption.
On the other hand, the quantity afloat and arrived
here, but not included in stock, we estimate at
about 19,000,000 lbs. against 27,000,000 lbs. at the
same period last year. In the first three months
of this season, viz., in July, August, September,
and part of October there were shipped away from
China 22,000,000 lbs. only, but to give a supply
equal to the three previous years' shipments up
to the 10th January, the exports must reach
33,000,000 lbs., or 11,000,0001b5. per month, i.e., for
the ensuing three months of this year. With these
facts before us we think there is every probability that
hi the course of next year the consumption will more
than overtake the stock and expected supplies, and
that an upward tendency may be looked for, in-
stead of that depression which has marked the pro-
gress of our market during the present year. The
principal business to report has been in the recently
arrived «new season's' 'monings and wood packs from
Canton, which have been realising from is. 7d. to
2s. 3d., with two chops of the finest at 2s. 4d. per
; as with the Kisows, there was more competi-
tion for those grades below Is. 10d. per lb.
Black leaf kinds have been quiet till within
the last few days, but are now again
in demand at previous quotations, assisted by
some speculation. Common Congou is neglected
at 9id per lb. Souchongs are about as last re-
ported; a chop of finest just in has fetched 2s. 6d.
per lb. Flowery Pekoe is in very limited demand.
Both scented Orange Pekoe and Caper have mate-
rially declined in value since last month, owing to
excessive arrivals. Oolongs of fine quality wanted ;
common difficult to sell at previous prices. Green
Teas, of fine quality, are held for full value ; in-
ferior grades have been saleable at quotations.
The prices hitherto ruling for -Young Hysons will,
ore long, we think, attract attention. Canton
Lade sorts of gunpowder have been sold to a large
extent, but on easier terms. Young Hysons con-
tinue as neglected as ever.
The advices from the United States by the
steamer Europa, announced yesterday, represent
the New York Money Market as being much easier
than it had been, the demand for discount accom-
modation being rather limited. The City Banks
were enabled to keep a sufficient reserve of specie
to satisfy the requirements of their customers; but
notwithstanding this, the markets for public secu-
rities had tended downwards, although at the latest
date rather more buoyancy had ensued. The ship-
' -manta of the precious metals continued large, and
in the week ending the 22d ult. the shipments
were 950,709 dols., making the total exports during
that date 34,779,984 dol.. During the same week
the exports of, merchandise exceeded the imports
to the extent of 779,135 dols.
Some surprise was occasioned yesterday after-
noon by the receipt of telegraphic information to
the effect that the Bank of Amsterdam had raised
tie rate of discount from b to bi per cent. This
measure would have excited little attention if most
of the other continental money markets were not
tending in an. opposite • direction. At the same
time, however, 5i per cent. for money in Holland
fs a very unusual quotation for discounts, and,
_ Although the advance is attributed to the disturb-
ince caused by tha silver speculation, it may be
found that the authorities also had in view the
itapending Russian Loan, which, if it cannot be
Obtained in France or England, will perhaps be
introduced elsewhere.

The True Briton, which was announced yesterday
Boni Melbourne, has brought a larger amount of
gold than was anticipated, viz., 90,000 or 100,000
ounces, valued at 360,0001. or 400,0001. We give
these figures, because the statements differ to the
extent indicated as to the precise sum.
An active demand for money prevails 'in Lom-
bard-street and at the Bank of England, and the
minimum quotation is in almost all instances
demanded. There is, therefore, no expectation of
any further.immediate alteration in the official rate,
Oa the arrangement of the quarterly and annual
acoounts, as well as the revenue payments, will all
assist in maintaining a full inquiry. This morning
the market for the English Funds opened at
the reduced values current yesterday after-
noon, when, owing to the heaviness of the
French Bourse, and one or two other minor
circumstances. Consols were rather weaker. Be-
%idea a few sales by parties who, being frightened
by the pause in the upward movement, were in-
duced to realise their profits, there have
been some Bear operations, but the market
Shows considerable strength. Consols have
been 931 Aand 93A I for the Bth January.
A special transfer is reported at 948, inclusive of
the dividend. The New Three per Cents, are
..131 the Reduced 931 1. Exchequer Bills 4s. to
48% premium, ditto Bonds 981 ¶, and India Bonds
28. premium. Bank Stock is 218, and India Stock
225.

Yery few bargains have been recorded in Foreign
securities, and these have been at lower prices.
Turkish
. 6 per Cents. have been 941 and since
.k. 4 95. The 4 per Cents. are about 102 g. Russian
" Per Cents. are 107, and the Small do. 971.
The following are the nominal prices of Foreign
stocks .;-.Grenada Deferred Bonds, 6i 7 ; Mexi-
tan, 211 21; Peruvian 41 per Cents., 76 8 ; ditto
"', Per Cents., 54 6 ; Portuguese 3 per Cents.,
44 6 ; Russian 5 per Cents., 106 8 ; ditto 41 per
cents., 96 8 ; Spanish 3 par Cents., 42 ; ditto
New Deferred, 231 A ; ditto Certificates, 51 61 ;
ditto Passive, 51 6i.
There has been very little business transacted
111 Railway
Shares this morning, and the fluctua-
tions in prices have not been more than about to
tper cent. Caledonian, Lancashire and Yorkshire,
_r.ighton, North-Western, South-Western, and
Midland were about ss. better ; but Great North-
er, Great Western, North-Eastern Berwick,
and South-Eastern declined ss. to 10s., and
Chester and Holyhead 1/. The French lines are
also
...at rather depressed prices. Paris and Lyons
noteeettainne,dpabooteuht to. 7s. 6d., and Lombar .
do-Ve
about ss. Gralenish, and Sambre and Meuse
Western of Cana% a Trunk of Canada and Great
Seinde are quoted
7v:ere each about ss. lower, and
Joint-Stock Bankl Sharesbein rule very quiet. Unity
Mutual declined IZ., being quoted 40.
In Miscellaneous
of
only alteration to
notice is a further advance
to 73.
Rot. in Peninsular and
Oriental Steam, viz.,
quoted 67 to 68. Yal Mail Steam are

13RITISHIFIJNDS THIS DAY.—CLOSING PRICES,
(From the Offietal List.)

sank Stock ... .... . .
33 per Cent. Reduced ..........
930
941
pa abut
Cent. Consols Annuities
New 3 per Cent. Annuities
1.1" g Annuities, expire sth Jan. 1860 2 13-16
Ditto 30 Years, expire sth April, 1885 lB
India Stock
India Conde, £loeo
Ditto, under £lOOO 2 p
Consols :or Account 93P 1 i i
Rachequer Rills, 21d.
£l000
, X 590 4 p
Ylisil
Ditto Bentls, IP'5% 3i per Cent 98,3 i 9
Ditto, 1859
PRICES OF FOREIGN FUNDS THIS DA Y.
Mexican 3 per Cent 22
"Wan Bonds, 1622, i; St., 5 per Cent lO7
Ditto, 4i per Cent. —
. 3itt• Small 97i
41),1nn h Bonds, 3 per Cent —
Ditto Account
Ditto New Deferred, 3 per Cent.
Ditto Account
811 mu •
Turkish
Committee Cert. of Coup. not fun 6 I
iatrkieb Bonds, 6 per cent —
Ditto Account
Ditto Guaranteed, 4 per Cent. ..
Ditto Account
Dividends on the above payable In London.
THRER O'CLOCK

Consols (Money
bittoiAm J onnt (az sty 8)