The Sun.
London, England, 1860-02-22 00:00:00

MONEY MARKET AND CITY NEWS.

CITY, Two o'CLocx.

The interruption to trade occasioned by Mr.
Gladstone's Budget having lessened the demand
for accommodation, the Money Market now pre-
sents a tranquil and somewhat easier appearance.
Instead of 41- per cent. the charge for
negotiating first-class paper is now about
3.1 per cent.; but the slightest increase in
- the inquiry would probably create renewed firm-
ness, as the recent course of events has rendered

capitalists exceedingly ♦igilant and cautious. At

the same time, however, it noticed as a very fa-
vourable feature, that the outflow of gold from the
Bank, which was the primary cause of the rise
from 2} to 4 per cent. in the minimum rate of
discount has been arrested, and, so far as can be
seen at present, there is no immediate probability of
its resumption.
No alterations of importance were apparent in
the Foreign Exchanges yesterday afternoon.
There were no bullion operations at the Bank of
England yesterday. The bar silver brought by
the Para'a from the West Indies has been sold—
part at 62d. and part at 621 d. per oz. standard.
Notice has been given that the Exchequer Bills,
dated March, 1859, with the interest due thereon,
will be paid off on the 12th proximo, when the
interest will cease.

Letters from Liverpool report that in the cotton
market, yesterday, business was rather dull, and
prices exhibited no change of importance. The
sales were estimated at 6,000 bales. The railway
share market closed quietly, but quotations were
firm.

At the meeting of the Southampton Dock Com-
pany it was stated that the not profit for the past
half year was £7,703 Os. Bd., which, added to the
surplus brought forward, would make an available
balance of £8,486, from which a dividend of 2 per
cent. was declared, leaving a sum of £1,279 2s. 3d.
to be carried to the next half year's account.

A decided improvement has taken place to-day
in the market for Public Securities in, consequence
of extensive purchases on speculative account, the
operators having been encouraged by the favour-
able tendency of monetary affairs, owing to the
diminished shipments of gold and the down-
ward tendency in the rate of discount. Con-
sols are now very buoyant at 95 to 95k
for money and at 95} for the account.
The New Threes and Reduced have advanced to
954 ; India New Stock has improved to 1041 ;
ditto 5 per Cent. Enfaced Paper to 984, ditto 51 per
Cent. ditto to 1031, 104 ; ditto Debentures are
firmer at 971 fl, and Exchequer Bills remain at 245.
to 275. prem.

In th; Foreign Stock market business is mode-
rately active, and prices show a general improve-
ment. Turkish 6 per Cents. are 791 to 80 ; ditto
New, 661; to 67k; Mexican has advanced to 211 ;
Russian 41 per Cents. are firmer at 97Z, ; ditto 3 per
Cents., at 658 ; Spanish, at 458 ; and Dutch 29 per
Cents., at 66k.

The Ocean Marine Insurance Shares are 21
prem. ; Universal ditto, prem. ; the London and
Provincial ditto, k prem. ; and the Canadian Loan
2i prem.
The transactions in the Railway Share Market
have been rather numerous, and prices generally
have exhibited an upward movement, the advance
amounting to about to I per cent. Caledonian,
Eastern Counties, Blackwell, South-Western, Man-
chester, Sheffield, and Lincoln, Midland, and North-
Eastern (Berwick), improved ss. ; Great Northern,
Great Western, North-Western, Oxford, Worcester,
and Wolverhampton, and South-Eastern, 10s.
In the Foreign market there was not much
activity. Prices, however, were firmer. Lombardo-
Venetian improved to 11; 11-Z- ; Great Luxem-
bourg to 7k; and Bahia and San Francisco to 64 7.
The Colonial lines have been steady. East In-
dian brought 1011 101; ; Great Indian Peninsula,
991- 991; and Great Western of Canada, 121.

Joint Stoek Bank and Miscellaneous Shares
hive shown no variation:of importance. London
and Westminster have declined about 58.; and
I'Tew South Wales, 6s. ; Peninsular and Oriental
Steam have advanced 10s.

k 111.1,1111 FENDS THIS DAT AT ONE O'CLOCK.
tank Stock
*„ Per Cent. Reduced Annuities 951 1
t per Cent. Consols Annuities
1 ' L'44v? 3 per Cent. Annuities
W Stock
Ditto 6 per Cent.
Ditto Enfaced Paper, 4 per cent —
Ditto 6 per Cent.
Ditto 51 per Cent lO4 3,1
Ditto Debentures, 1858
Ditto,A 1859
e3nsols for Account (March)
Ladle. Stook for Amounnt —
Ditto 6 per Cent lO4/ 4
1 xchNuer Bills, £l,OOO, 11d 24 7
thICES OF renuictx FENDS AT ONE O'CLOCK.
&Lexie= 3 per Cent.
Ditto Account
Itussian, 1822, £ St., 6 per Cent —
Ditto Account
Ditto 3 per Cent.
Spanish 3 per Cent
Ditto Account
Turkish 6 per Cent.
I Ditto Account
Ditto New Loan
Ditto Account
Dividends on the above payable in London.
Ditch Exchange, 12 Guil. 21 per Cent 661
TWO O'CLOCK.

Consols, Money 95
Ditto Account (March 8) , 95i

PARLIAMENTARY COMMITTEES.

ANCHORS, &c. (MERCHANT SERVICE).
bThis committee re-assembled yesterday ; Sir J.
'"lphinstone in the chair.
Mr. Macdonald, manager of the Liverpool Cor-
poration testing machine, stated that the machine
*ILI in oonstant use, and was not sufficient for the
Work required. In 1855 the number of fathoms of
chain cable proved was 10,717, of which 8,862 were
found„ to be defective, and 576 were condemned. In
i
856 the number of fathoms proved was 11,336, of
7aich there were defective, 9,575 ; condemned,
VEt• In 1857 the number of fathoms proved was
.12,826, of which there were defective 10,393 ; con-
"hmed 316. In 1858, the number of fathoms
Proved was 9,387, of which there were defec-
tive 8,278; condemned 383. In 1859, up to
`tllgust 1, the number of fathoms proved was
t fen, of which there were defective 4,038, con-
"embed 357. The number of fathoms of close link
proved during the same period was 36,884, of which
here were defective 21,487, and condemned 1,541.
The defects chiefly arose from the cables being con-
structed of bad iron. The condemned chains were
frequently sold to the owners of vessels. The cables
vessels classed at Lloyd's are required to be tested.
The cables of the Royal Charter were not tested by
„the Liverpool machine. One of the makers at
Liverpool had a testing machine, but he did not
believe that any other of the makers had a machine.
B Mr. Jackson—Six testing machines would
cot be sufficient to do all the work required. Many
ships went to sea without having their cables tested.
tte had no doubt that if all the cables were tested
there would be a great saving of life and property.
Mr. Henry Wood, chain-cable and anchor maker.
ar Liverpool and Chester, said there was a testing
Iltttehine at his establishment, the steam power of
,bi tieh tested up to 300. The machine was similar
o° that
that used in her Majesty's dockyards. Van--
o"3 qualities of iron were used in the manufac-
hr.° of cables and anchors. He preferred Stafford-
tre iron for small sizes, and Welsh for the larger
briek The best cables were made from Plymouth
61.8. The strain on the 2k-inch chains was 81 tons
Tthe merchant test. The chain cables for the
hal Charter were manufactured at his works.
bid eize was 2,1 inches and the strength 72 tons.
seersnot believe that either the chains or anchors
at fault in that case. -Was of opinion that all
pubß°ing ships should have their cables tested at a
tewc establishment, and believed that a public
."
It: would effect a great saving of life and property.
at•thought the shipowners and underwriters were
tc,ilified with the corporation test at Liverpool, and
Diftql not say whether they would prefer being
a:ed under the supervision of a Government in-
pos_!tor. He _did not think any places would sup-
ett the expense of an establishment for testing
Arl3t London, Liverpool, and the Clyde. The
Nvolitl;tralty test in the case of the Royal Charter
t' "I
•o have been 81, and if it had been required
„
the cables should be put to that test better iron
bee " o
have been used, and the cost would have
c
reased.
The Committee then adjourned.

tat,t; is understood that the ceremony of laying the
erclalion stone of the large memorial which is to
v'eed at Brompton barracks to the memory of
tell officers and men of the Royal Engineers who
by the Crimea will take place on Friday next,
hue Royal Highness the Duke of Cambridge.