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

MONEY IVIA.RKET

AND

COMMERCIAL IN' PEL LIGENCIt.

CJITY, Two :-.)'i.)L0(;.?,.

The Liverpool Cotton Mr trket yesterday closed
with some 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
Pernam and Maranham at 61d. to 71{1. ; 800
Egyptian, at 6d. to Std. ; 1,500 Surat at 4fd. to
sid. per lb. The Rail' vay Share Market closed
at a slight decline on the current rates of Saturday.
Advices from Galatz of the 6th inst. have come
to hand, and report a very active business doing in
the grain market, chiefly in consequence of the
more favourable accounts frc im England. At Braila
wheat of the new crop commeanded a good price at
445. Bd. per quarter for ordinary qualities, and
parcels of old stock 41s. 3d. The result of the
harvest is expected to be less favourable on account
of heavy 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-
land, 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 Real to Cadiz ; the deposit at the close of
the sale to be 160;000 reels, and the subvention
promised by the Government is to be 180,000 reels.
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 reels.
Among the works to be executed are 21 bridges, 14
'viaducts, and nine tunnels. The Credit Mobilier
are in the market for these.

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 any
decided amelioration will take place during
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 of
the five franc piece, a popular coin in India and
China, is now saleable at a price above the nomi-
*al value. Almost all the money changers in ,1
Paris now buy this coin at a premium, of some-
thing like 15 francs for every 1,000 pieces. This
fact has given rise to much conversation among •
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 large,
and a serious drain might, no doubt, take'
place before any inconvenience would ensue.
'At the same time, however, it is well known
that France, during the present• regime, has
coined more gold than before, and, consequently,
*flyer could be spared to a greater extent than in
former times. The appreciation of the silver coin-
age of France has somewhat perplexed the bankers
and others of neighbouring countries, and thus we
learn to-day that the Bank of Belgium has refused
to Like French 20 franc gold pieces, owing to the
large quantity offered them, unless at a discount
of 24 per cent. The specie movement is now,
and is likely to continue a subject of debate
atnong parties interested throughout Europe, as
the requirements of India and China, owing to the
increasing balance of trade against this country,
are becoming greater, and can alone be discharged
by specie remittances.

The sudden rise which occurred about a week
ago in the value of Funded Securities has not
been sustained, the improvement having gradually
dwindled away to the extent of nearly per cent. •
from the highest point. We remarked at the time'
that there was no bonafide cause for such a material
reaction which originated in a fight among the
sears, whose operations had been of an extensive
Character. The upward movement was then ac-
,celerated by Bull speculations, until Consols
reached 95, and since then there has been an in-
. elination to depress the market, as there is no
chance of any immediate improvement in the
Money market, which, at present, exerts a para-
mount influence on the funds. During the last
two or three days the quotations have ruled
►ery heavy, and this morning there are far-
ther symptoms of declension. Consols for
transfer have been largely dealt in at
03/ to 94, 94k, and 93i while for time the deal-
.
b3gs have been contracted at 94-to 94k. Exche-
quer Bills on the contrary keep up, the value being
148. to 17's. premium, while the Bonds are 15s. pre-
reium. The Reduced Threes are 948.

Scarcely half a dozen bargains in Foreign Stocks
Lave been officially recorded, business being very
Inert. Turkish have been merely nominal, the 4
Per Cents. at 10211, and the 6 per Cents. at 1021 A.
Spanish Deferred are 24*, Grenada New Active.7l,
and Buenos Ayres 81. Dutch 4 per Cents. are 981.
The following are the nominal prices of Foreign
Stocks Grenada Deferred Bonds, 7 to 7i ;
Mexican, 22/- to 22:1 ; Peruvian, 79 to 81 ; ditto,
t per Cents., 57 to 59 ; Portuguese 3 per Cents.,
45 to 46 ; Russian 5 per Cents., 107 to 109 ;
ditto 41 per Cents., 96 to 98 ; Spanish 3 per
Cents., 42* 431 ; ditto Deferred, 241 24A ; ditto
Certificates, 5 6 ; ditto Passive, 6i 7.
Railway Shares are all flatter, and the dealers as
Veil as the public are operating with reserve. Some
of the leading English shares are to 1 per cent.
lower, and the market is very feeble. Sambre and
Meuse are steady, but the foreign market is so
teglected that the same statement has to be made
Almost daily, viz., " transactions are limited at
Previous prices." To-day, however, we notice
rather more business, the Ardennes, the Bergers,
the Northern of France, and some others having
Aeen dealt in. The Colonial are steady.

Joint-Stock Banks are flat, and the same re-
Mark applies to those of a miscellaneous descrip•
lion. •

BRITISH FUNDS THIS DAY.—CLOSING PRIC.JEs.
(Iron the Official List;

.(nsto- s floes
3 per Cent. Reduced Annuities Shut 94$
a per Cent. Console Annuities 94 34 4h 3i 4 31 4
India Bonds, £l000
Comes for Account
Ipzebequer Bills, 24d.
',k, £l000
2500 l4 17 p
Brasil
Ditto Bonds, 1858, :34 per Cent. 99i z„
Ditto, 1859
PRICES OF FOREIGN FUNDS THIS DAY.
huenos A Tres Bonds, 6 per Cent. —
Ditto Account
Grenada New Active, 2i per Cent.
Ditto Deferred 7.}
Sp root Roads, 3 per Cent —
Ditto New Deferred, 3 per Cent.
bitto Account
l'irk OA iionde, 6 per cent —
Ditto Account
T)itto Guaranteed, 4 per Cent.
Ditto Account ..
D;vl, elide on the above nay able i- T ondor.
Dutch Exchange, 24 per Cent,., 12 Guilders 611
Ditto 4 per Cent. Certificates
THREE O'CLOCK.
t* Consols, money 4 93i i
Ditto for Account, Oct. 8 94

DEATH OF ALDERMAN lIIINTER.—We regret to an-
nounce the death of this gentleman, who died last night
at his residence in Hyde-park-square. He bad for many
Years represented Coleman-street Ward, and was much
esteemed.
Requisitions are stated to be in course of signature
among the shareholders and creditors of the Royal
British Bank for the appointment of Mr. Coleman as
official manager undeethe Winding-up Act.
The Manchester advices mention the failure of Messrs.
W. H. Gray and Co., spinners and manufacturers, of
that town ; but the liabilities are stated to be below
15.000/.
THE TEA TRADE, Sept. 22.—The deliveries in London,
estimated for the week, were 855,4101 b., being a decrease
9f 82,828112. compared with the previone statements