The Sun.
London, England, 1856-09-23 00:00:00

MONEY MARKET

Alu'n

COMMEI?.CITAL EtTTELLIGENC4;

CITY, Two
The Liverpool Cotton Market yesterday closed!
with Bonne animation, and prices of all descriptions;
were 1-16 d. per lb. dearer. The sales amounted.
to 14,000 bales, 2,000 of which were taken for ex-
port and 3,500 on speculation, comprising 500
Pernanx and Maranham at 6d. to lid. ; 800
Egyptian, at 61-d. to 91d. ; 1,500 Surat at 41d. to
51d. per lb. The Railway Share Market closed
at a slight decline on the current rates of Saturday.
Adv ices from Galatz of the 6th inst. have come
to han I, and report a very active business doing ill
the grain market, chiefly in consequence of the
more favourable accounts from England. At I;raila
wheat of the new prop commanded a good rsiriee at
445. Bd. per quarter for ordinary qualities, and
parcels of old stock 41s. 3d. The result of the
liar vest is expected to be less favourabl e on account
of htsavy rains in the interior. The quotations of
wheat at Galatz are 425. to 455. per quarter for
first qualities, and 335. 6d. for second ditto.
Freights are high, at 13s. 6d. per quarter for Eng-
laird, and 6 frs. per charge for Marseilles.
Accounts from Madrid announce that on the
10th of October the Government will put up to
public competition the section of railway from
Puerto Peal to Cadiz ; the deposit at the close of
the sale to be 160,000 reals, and the subvention
promised by the Government is to he 180,000 reals.
Also, on the 15th of the same month, the sections
of the Northern Railway from Madrid to Valla-
dolid and Burgos to Irun will be sold by auction ;
the deposits to amount to 4,727,645 reals ; the
Government offer a subsidy of 195,246,840 reals.
Among the works to be executed are 21 bridges, 14
viaduct; and nine tunnels. The Credit Mobilier
are in the market for th ese.

There is no change to report in the general posi-
tion of the money market, the demand for discount
accommodation during the last two or three days
having been active, while the rates charged for it
remain fully as high as previously. Many parties
imagined that some permanent relief would be ex-
perienced immediately after the last payment on
the loan completed on the 18th inst., but this ex-
pectation up to the present time has not been
realised, nor is it probable, from the many causes,
now acting adversely on the market, that an y
decided amelioration will take place durin g
the next two or three months. The extra-
ordinary purchases of silver on the Continent
and the necessary remittances of gold from this
Country to effect them continue ; and the value o f
the five franc piece, a popular coin in India an d
China, is now saleable at a price above the nom i-
'tel value. Almost all the money changers in
Paris now buy this coin at a premium, of some-
thing like 15 francs for every 1,030 pieces. This
fact has given rise to much conversation am ong
financiers and bullionists, and some of the French
Journals have entered at some length into the pro-
bable ultimate effect which will be produced on the
silver currency of the country. In France
the supply of silver is exceedingly I:irgri,
send a serious drain might, ,no doubt,, tr. lie
Place before any inconvenience would enn ,ue.
At the same time,- however, it is well kre own
that France, during the present regime, has
Coined more gold than before, and, consequently,
silver could be spared to a greater extent tb an in
former times. The appreciation of the silve• coin_
Ige of France has somewhat perplexed the I- Ankers
SOd others of neighbouring countries, and thus we
learn to-day that the Bank of Belgium hard refused
to take French 20 franc gold pieces, owi73,g to the
large quantity offered them, unless at a discount
(4 21 per cent. The specie movemer ,t is now,
SNI is likely to continue a subject of debate
4lOng parties interested throughout Murope, as
the requirements of India and China, owing to the
'Ocreasing balance of trade against this country,
.4te becoming greater, and can alone 'be discharged
specie remittances.
The sudden rise which occurre' At about a week
g(:i in the value of Funded Se curities has not
teen sustained, the improvement having gradually
dwindled away to the extent of nearly per cent.
il1.01)1 the highest point. We re marked at the time •
that there was no bonafide cans a for such a material
teaotion which originated in a fight among the
Bears, whose operations ha( I been of an extensive
character. The upward m, avement was then ac-
celerated by Bull Fpecul ations, until Consols
reached 95, and since then there has been an in-
clination to depress the market, as there is no
chance of any immedi.ate improvement in the
money market, which , at present, exerts a para-
tkount influence ov, the funds. During the last
to or three days the quotations have ruled
fiery heavy, and this morning there are far-
ther symp'coms of declension. Consols for
transfer have been largely dealt in at
to 94, '941, and 93/ while for time the deal-
11D have been contracted at 94 to 941. Exche-
hStier BNB on the contrary keep up, the value being
1. to 17s. premium, while the Bonds are 15s. pre-
iurn. The Reduced Threes are 94g.
Lace scar rely half a dozen bargains in Foreign Stocks t(
keen officially recorded, business being very
tort. Turkish have been merely nominal, the 4 `4
1/1' Cents. at 1028 and the 6 per Cents. at 102 k
Spanish Deferred are 24g, Grenada New Active 7f,
4
Bui3nos Ayres 81. Dutch 4 per Cents. are 981.
S The !lollowing are the nominal prices of Foreign `i
L'ocks : Grenada Deferred Bonds, 7to7i • I(
tic
tczicrin, 22i to 221 ; Peruvian, 79 to 81 ; ditto 1(
I,ll°r Oents., 57 to 59 ; Portuguese 3 per Cents., 'r
di to 46 ; Russian 5 per Cents., 107 to 109 ;
tto 44 per Cents., 96 to 93 ; Spanish 3 per ti fi2
421 431 ; ditto Deferred, 24i 241 ; ditto 2
e/tes, 5i 6 ; ditto Passive, 6i 7.
Pailway Shares are all flatter, and the dealers as A
as the public are operating with reserve. Some 2
the leading English shares are to 1 per cent. 2
Ittter, and the market is very feeble. Sambre and 2 3
higsuss are steady, but the foreign market is so 1
host
that the same statement has to be made
envious
daily, viz., " transactions are limited at 2
"4vioue prices." To-day, however, we notice
t 4
ilther more business, the Ardennes, the Bergers,
0 Northern of France, and some others having g
'ett dealt in. The Colonial are steady.
41
Joint-Stock
Banks are flat, and the same re- 101
ii(344tk. applies to those of a miscellaneous descrip • 11

4114 TISH FUNDS THIS DAY AT ONk: ()'CLOGS.
(From the Official List.
,
Ano,.
i ''°l' Cent. Reduced Annuities Shut 94 done
1
[kV,' Cent. Consols Annuities 94 34. 41 31 4 31
to:'" Bonds, £lOOO ...,•••••••• .......... ••••, 15 p
Vole ;or Account
'4"tlhequer Bills, ?.id.
1000
560 l4 17 p
D
%lel!
I;itte Bonds, 1858, 3i per Cent. 991
I,6"itto, 1859
991
`'IORS OF FORRIGN FUNDS AT ()NE O'CLO. 'R.
,
14:4,410s Ayres Bonds, 6 per Cent.
)Ma Now Active, 21 per Cent.
i,!tto Deferred 7l
4,,,,) Bowls, 3 per Cent —
vitt° New Deferred, 3 per Cent.
f)itto Account
D , Dlvulenrig on the above -nvable in London.
Ditto 4 per Cent. Certificates ....... ...... ;i
TWO O'CLOCK,
0, msols, money 931 94
Ntte Acpount 94 i

kj),, *TR OF ALDERMAN 111 INTER.—We regret to an-
4tVe9 the death of this gentleman, who died last night
residence in Hyde-park-square. He had for many
t:ta represented Coleman-street Ward, and was much
ietned.
11);',4te accounts from the Isthmus of Tehuantepec state
lA' the road now forming by the New Orleans Com-
kiltlY Will be open throughout its whole distance of 111
kV", from sea to sea, by the let of December next, and
4ht it will then be traversed by carriages in 18 hours.
01),(4quisitions are stated to be in course of signature
the shareholders and creditors of the Royal
wish Bank for the appointment of Mr. Coleman as
manager under the Winding-up Act.
144•`1,6e Manchester advices mention the failure of Messrs.
ti,,4
T 41. Gray and Co., spinners and manufacturers, of
t-vv
01 . ; but the liabilities are stated to be below
Mti 100 it
it TEA TRADE, Sept. 22.—The deliveries in Londor,
Gated for the week, were 655,4101 b., being a decrease
418261 b. compared with the previous statement.