The Sun.
London, England, 1860-06-25 00:00:00

MONEY MARKET AND CITY NEWS.

CITY, Two O'CLOCK.

The accounts from the manufacturing districts
continue of a very unsatisfactory character. At
Leeds business during the past week has been very
quiet, and at Manchester the slight improvement
noticed last week has been lost, particularly for
India goods. Wools and yarns at Bradford con-
tinue inactive, and less business than usual has
been recorded in piece goods. The hosiery trade
of Leicester, however, is moderately active; but in
the various hardware districts, viz., at Birming-
ham. Sheffield, and Wolverhampton, no material
improvement can be recorded.
There is now a very active demand for accommo-
dation and an extensive business will probably be
negotiated before the July dividends become pay-
able at the Bank of England. A considerable sum
is being absorbed by the payments into the Exche-
quer, and this, no doubt, has some effect upon the
market. At present, however, the rates exhibit
no material alteration, the best bills being nego-
tiable at 4 Der cent. On the Stock Exchange 4to
41 per cent. are the terms for temporary advances.
Rather less activity was apparent in the Liver-
pool Cotton Market on Saturday, but prices were
unaltered. The sales were estimated at 9,000 bales.
The Railway Share Market closed quietly, and
quotations were steadily supported.
There were no bullion operations at the Bank of
England on Saturday.
The Southampton has been announced this
morning from Melbourne, with £77,000.
A call of 15 per cent., amounting to £166,725, is
due to-morrow on the Grand Trunk Railway of
Canada 2d Preference, issue 1860.
There is very little animation in the market for
Public Securities to-day; the quotations continue
flat, although the variation in prices is unimpor taut.
A decline of k per cent., however, is reported, Con-
sols being 931 - , ovc ing to unfavourable advices
from France. The New Threes are flat at 9274 931;
the Reduced at 9274 931 ; India 5 per Cent. Enfaced
Paper has receded to 971; ditto 51 per Cent. ditto
remains at 1021 ; the Debentures are 961 ; and
Exchequer Bills par tol prem.
A very small amount of business has been trans-
acted in the Foreign Stock Market, and prices
show no material variation. Turkish 6 per Cents.
are 771 to 771 ; ditto New, 601 to 601 ; and the 4
per Cents. have improved to 1021, and Russian 3
per Cents. to 641. Portuguese are flat at 45k.
Venezuelan 3 per Cents, are steady at 241 ; ditto
11 per Cents, at 121.
The Ocean Marine Insurance Shares are 11
prem. ; the Thames and Mersey 74 1 prem. ; and
the Universal par 1 prem.
A very moderate business has been transacted
in the Railway Share Maket, and the few dealings
entered into have not shown any material altera-
tion in value. Midland and South-Eastern have
receded ss. ; North-Western, 10s.; South-Western
and North British have advanced 55.: and Great
Northern, 10s.

The Foreign undertakings were very quiet.
Lombardo-Venetian brought par, and Bahia and San
Francisco 711.

In the Colonial market Grand Trunk of Canada
were flat at 30 to 301. East Indian declined to
1021-, 1021, and Great Indian Peninsula brought
1001 1001.

Joint Stock Bank and Miscellaneous shares have
been inactive, prices in most instances remaining
unaltered.

BRITISH FUNDS—CLOSING PRICES.
3 per Cent. Reduced Annuities 93 I 2/ 3
New 3 per Cent. Annuities
India Stock • • . —
Ditto Enfaced Paper, 4 per Cent. —
Ditto 5 per Cent..... 971 7
Ditto 51 per Cent.
Ditto Debentures, 1858
Ditto Bonds £l,OOO
Consols for Account, 10th July .. 93a
Exchequer Bills, £l,OOO, lid
D tro £5OO 4 pm par
Ditto Small
FOREIGN FUNDS—CLOSING PRICES.
Brasilian 5 per Cent 9B/
Ditto 41 per Cent. 1852 B7±
Ditto Scrip
.. 1 d
mu Portuese 3 per Cent., 1853.
..
Ditto Account
Russian 5 per Cent. 1822, St ..
Ditto 3 per Cent., 18.59
Spanish 3 per Cent. —
Ditto New Deferred , —
Ditto Account
Ditto Passive
Turkish 6 per Cent .. 77±
I )itto Account
Ditto New Loan
Ditto Account
Ditto Guaranteed, 4 per Cent.
Ditto Account
Venezuelan 3 per Cent
Ditto 11 per Cent.
Dividends on the above payable in London.
THREE O'CLOCK.
Consols for Account, ex div. 931

THE NEW RUSSIAN LOAN FOR EIGII7

MILLION STOCK.

The prospectus just issued states as follows :

" Messrs. Baring Brothers and Co., and Hope and Co.,
beg to state that in conformity with the annexed translation
of the Ukase of his Majesty the Emperor of Russia, dated
May 27, 1860 (old style), and in comrliance with the in-
structions of H.E. the Minister of Finance, they are ready
to receive applications for the loan therein authorised of
£8,000,000 (eight million pounds sterling) of stock, bearing
41 per cent. interest, on the following terms and condi-
tions

"Bonds in due form executed in St. Petersburg, will be
issued in sums of £lOO sterling, or I,lBofi ; £5OO sterling,
or 5,900 fl ; and £l,OOO sterling, or 11,800 fl; respectively,
with 20 half-yearly dividend warrants payable June Ist and
Dec. Ist (new style) of each year, at the counting-house of
Messrs. Baring Brothers, and Co., in London, or Messrs.
Hope and Co., in Amsterdam, and with an authorisation
to claim fresh dividend 'Warrants without charge.
" The half-yearly dividend warrant will be respectively
for, £2 ss. or 26.55f1. on each bond of £lOO or 1,1801 ; for
£ll 5s or 132.7511. on bonds of £5OO or 5,900f1. ; and for £22
10s. or 265.50f1. on bonds of £l,OOO or 11,800 fl.
" The amount of the bonds will be also reimbursed, with-
out charge or deduction, either at the counting-house of
Messrs. Baring Brothers and Co., in London, in pounds
sterling, or Messrs. Hope and Co., in Amsterdam, in
florins, at the choice of the holders, and an annual sinking
fund of one and a half per cent. (11 per cent.) on
the principal, will be applied to their repayment at par.
" The bonds to be reimbursed will be annually drawn by
lottery in St. Petersburg, and the first reimbursement will
take place at par in London or Amsterdam on Ist June,
1862 (new style), when bonds to the amount of £120,000
sterling, or 1,416,0001, will be repaid at par; and a like
amount will be reimbursed annually.

" All the bonds will thus be repaid at par, and they bear
interest, in favour of subscribers, from Ist June, 1860.

" The subscription price is 92 per cent., say at the rate of
ninety-two pounds sterling for every hundred pounds steck
in London ; or in Amsterdam at the i ate of 90 per cent, at
the Exchange of 12 florins per £1 sterling.
" The payments in London will be as follows :
£lO Der cent. must be paid two days after allotment, to
Messrs. Martin and Co., Lombard-street,
£ 15 per cent on 16th July,
~ 10 „ „ on 15th August,
~ 10 „ „ on 17th September,
~ 15 „ „ on 15th October,
7) 10 „ on 15th November.
>, 22 „ „ on 17th December,