The Sun.
London, England, 1856-09-30 00:00:00

MONEY MARKET

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLoo)1

The Liverpool Cotton Markct yesterday closed
firmly, and prices were rather higher. The sales
were 12,000 bales, 1,000 for export, and, 3,000 on
speculation, and in addition to Americans, 270
Pernam and Marauham, at Gid. to 7d. ; 400
Bahia, at Gid. to Old. ; 500 Egyptian, at 7d. to
Bid. ; 1,200 Surat, at 415 d. to Sid. ; and 50 Sea
Islands, at Is. to ls. 2id. per lb. The Railway
Share Market was quiet, and prices were a shade
lower than on Saturday last.
The Paris commercial report states that the great
event of the past week has been the raising of the
rate of discount by the Bank of France. This
measure has been adopted at a period when trade
is dull, and the warehouses are about laying in
their supplies for the winter season ; and is con-
sidered a fresh obstacle to a favourable return of
business. The resolution of the Bank has been
determined upon in consequence of the great ope-
rations in silk, and the speculations in gold and
silver. Business amongst the manufacturers has
been very quiet during the week, and chiefly
caused by the monetary crisis on the Bourse.
The warehouses have commenced to make purchases
to meet their wants for the ensuing season. The
same causes which have depressed the home trade
have checked commerce with foreign countries.
Germany sends very few. .commissions, and the pur-
chases made on French account are required to be
paid for in silver. Large sums have also been sent
from Marseilles to the Sea of Azoff in payment for
the wheat brought from thence. On the other
hand new orders have arrived from America, in
consequence of the improvement in trade at NO7/
'York and Orleans, and the easy state of the money
market. The demand for merchandise for export
to the Brazils and other states in South America is
regular, and manufactures especially prepared for
these countries command a high price in the
market.

The inquiry for discount accommodation at the
Bank of England is described as being excessive.
This additional pressure has of course arisen from
the expectation that the minimum rate of discount
will be raised on Thursday to 5 if not 5i per cent.
A confident impression seems to prevail that an
increase of I per cent. would be comparatively use-
less, and be quite insufficient to check the
demand for discounts. The effect of either mea-
sure, however, has already been anticipated, and in
the existing state of affairs it is generally admitted
that the extreme course would be the most expe-
dient. Already the value of money in Lombard-
street is 5 per cent., even on the best descriptions
of paper, and the tendency is still upwards. All
hope of an early improvement in monetary affairs,
both at home, in France, and throughout the Ger-
man States, is therefore abandoned, and although
few predict a crisis, there is, nevertheless, a well-
founded impression that the prevailing stringency
will be prolonged for some months. At Paris
money is very scarce and trade depressed, while
the Bourse continues in an exceedingly heavy con-
dition. The letters daily received speak in very
gloomy terms of the future.. This, however, is
always the case when business is dull and prices
are declining.
There has latterly been a singular absence of
gold remittances from Australia, but the Champion
of the Seas and several other vessels with large
quantities of treasure are now overdue, and may be
hourly expected. Their arrival at this period,
when the money market is so unsettled,, would be
very opportune. _ _ _

Her Majesty's ship Ilighflyer, for the East
Indies, will take out, it is said, 80,0001. to the
Cape of Good Hope. The amount on board the
Emine, for the Peninsula, is 26,550/.
The Funds ar• now about 1 per cent. lower than
at the official close of business yesterday, with a
very feeble appearance. An unpleasant feeling
prevails with reference to Italian politics, but
the chief cause of the declinA thin

further fall in the Rentes at Paris. Consols for
money were 92k, and afterwards 91i ; while for 4
account they were 92h 1, and 91 92. They are
now 91i for the former, and 91i 92k for the latter,
being firmer. Exchequer Bills have sunk to 7s.
to 10s. premium, and the Bonds were 991. East
India Bonds are marked 83. premium.

Foreign Stocks are also lower, but the dealings
are limited. Turkish 0 per Cents. are down to
98f and 99, and the 4 per Cents. to moi i. Spa-
nish Threes are 42 ; Portuguese Threes, 42f ; and
Mexican 22t. Russian 4f per Cents. have been 95f
to 90. _ _

The following are the nominal prices of Foreign
Stocks : Grenada Deferred Bonds, 61 to 71 ;
Mexican, 21i to 22 ; Peruvian, 76 to 78 ; ditto
3 per Cents., 56 to 58 ; Portugueso 3 per Cents.,
42 to 44 ; Russian 5 per Cents., 106 to 108 ; ditto 41
per Cents., 95 to 97 ; Spanish 3 per Cents., 41
42} ; ditto Deferred, 23i 24 ; ditto Certificates,
bf ; ditto Passive, 61 I.
The English Railway Shares are all depressed,
being on the average 10s. to IZ. lower than yester-
day. Great Northern, however, form an excep-
tion, having been firm. About an average
amount of business has been done. French
and other foreign shares, in which there
has been very little movement of late, have
all decidedly fallen in consequence of the
depressed state of the continental bourses and
money markets. Northern of France have dropped
, Paris and. Lyons 4, and Great Luxembourg
to 4. The Canadian also rule at reduced quota-
tions.

Joint-stock banks are generally quoted a trifle
lower, but the Bank of Egypt are firm. Canada
Land shares have recovered 21. to 31.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
(From the Official List:
. Resin... done.
S per Cent. Consols Annuities 921 2 1i 2
Indig Bonds. £lOOO ..........
Ditto, under £lOOO 8 p
..-.. Consols /or Account
' ..,.' Ezahoquer Bills, 21d.
~., 21000
2580 7 10 p
ft: ' Small • 7lO p
Ditto Bonds, 1858, 31 per Cent. —
.40-•
Ditto. 1859
PRICES OF FOREIGN FUNDS THIS DAY.
- . Mexican 3 per Cent
Ditto Account
- ' Portuguese Bonds, 5 per Cent., Con. 1841
Ditto 1853, 3 per Cout —
41 31
Ditto Account
Russian Bonds, 1822, i: St., 5 per Cent 1065
Ditto 4i per Cent. 96 51
SpanisL Isoads, a per Cent ... ............
Ditto Account 42
Taritith ,i,ouds, 6 per cent 99 S
Ditto Account
nitto Guaranteed, 4 per Cent.
Ditto Account
Doncoo-n, on the above payable In London.
Franch Routes, 41 per Cent.
Ditto 3 per Cent. ..
Dutch Exchange, 21 per Con';., 12 Guilders
Litt° 4 per Cent. Certificates 96
THREE O'CLOCK.
Console, money 92i A
Ditto for Account, Oct. 8 92s 1

The directors of the Crystal Palace Company announce
that " pending the verification of the share register now
in progress, the issue of the dividend warrants on the
ordinary shares is necessarily suspended."
THE TELEGRAPH IN THE NORTH.—The Electric
Telegraph Company entertain the idea of extending
their wires to the north, altogether independent of the
extension of the railway. A favourable idea is the pro-
longation of the electric t4:legraph along the sea coast.
The company are prepared to extend their communica-
tion along the coast as far as the Orkney Islands, pro-
vided an annual income of 2,0001. can be guaranteed to
them for a certain number of years. --AberdeenHerald.
THE ART TREASURES EXHIBITION.—To the het of
contributors we have already given we have the pleasure
to add the noble name of Salisbury. The marquis has
given the Manchester committee carte blanche in select-
ing from his pictures at Hatfield. The first instance we
have heard of refusal to the application of the committee
is from General Wyndham. This is to be regretted. for
few collections equal Petworth in genuine Holbeins ;
it is also rich in specimens of the English school, and
contains several of the chefs d'ceuvre of Vandyke.
KOSSUTH'S VISIT TO SCOTLAND.—We have already
announced the approaching visit of M. Kossuth to Edin-
burgh, for the purpose of delivering a lecture to the
working classes, in compliance with an invitatio 4 signed
by 1,500 woreieg men, which his feeble health prevented
him from accepting when here formerly. We learn that
on this occasion M. Kossuth will also lecture in Dundee,
Montrose, Kelso, Jedburgh, Dumfries, Ayr, Hamilton,
and Lanark, from all of which he has received nume-
rously signed requisitions.