The Sun.
London, England, 1860-02-08 00:00:00

MONEY MARKET AND CITY NEWS.

CITY, Two O'CLOCK.

Notwithstanding the recent advance in the rate
of discount and the rise in the exchanges, the
specie movement continues unfavourable. Exten-
sive remittances of gold are being made to the Con-
tinent, and the bullion dealers not only purchase
the Australian and American consignments, but
still have recourse to the Bank of England, and
although the withdrawals during the last few
days have been very limited, they are neverthe-
less indicative of a very active demand for
exportation. As Indian Securities are still being
imported, there is also reason to believe that silver
will yet be transmitted to the East in large quan-
tities, and under these circumstances it is not sur-
prising that speculators and others should take an
unfavourable view of the prospects of the money
market. Indeed, the opinion is gaining ground
that a further advance may have to be made in the
minimum rate of discount, and a large amount of
business is consequently reported in monetary
circles.

The withdrawal of gold from the Bank of Eng-
land yesterday was only £B,OOO. The remittance
by the Donald M'Kay—viz., £l4B,ooo—has been
taken for exportation.

The Foreign Exchanges yesterday afternoon er
hibited a general advance.
The directors of the London and Blackwell Rail.
way propose a dividend for the half year, ending
31st December last, at the rate of 4 per cent. per
annum.
Letters from Liverpool report that the Cotton
Market yesterday closed with increased dulness,
and prices were depressed. The sales were only
6,000 bales. In the Railway Share Market a very
moderate business was transacted, and quotations
exhibited a further decline:
The first of the periodical public sales of indigo
for the present year commenced yesterday. The
quantity to be_ submitted for competition is small,
and comprises only 7,521 chests of various qualities.
The biddings were anything but animated, and
prices were very irregular. Good and fine Bengals
advanced 3d. to 6d., Kurpahs, 3d. to 4d., and Ma-
dioz, 2d. to 3d. per lb. on the rates realised in
October last, while inferior and low qualities were
quite neglected. During the sale, 1,446 chests
Passed the chair, of which 592 were sold, 493 bought
in, and 361 were withdrawn.
A meeting has just been-held of the Australian
Royal Mail Steam Navigation Company; the chair-
man stated that the vessels had been sold, and the
expected return of capital amounted to about ss.
6d. per share, but this would be made known at
the next meeting. It was resolved to allow the
directors £4OO as a remuneration for their services
until the expiration of the company.
There has been very little business in the market
for English Securities, beyond the liquidation of
the account, which has made favourable progress.
A few sales, however, have taken place, Consols
being 944,' buyers," for money, and 949 for the
March account. The dealings in money stock
have been very limited, and the public seem to
prefer New Threes and Reduced to Consols, the
former being relatively cheaper.
The New 3 per Cents.' are flat at 94: the
Reduced at 94: India Stock is steady at 2191,
ditto New Loan at 1021 103, ditto 5 per Cent. En-
faced Paper at 981, ditto 51 per Cent. ditto has re-
ceded to 1031 104, and the Debentures are heavy
at 971. Exchequer Bills are firmer at 235. to 265.
Prem., and Bank Stock has improved to 229 and
2309.
In the Foreign Stock Market business continues
Moderately active, and prices are well supported.
Turkish 6 per Cents. aro 78 to 79 ; ditto New, 66 gi
to 669; the 4 per Cents, have improved to 1021 ex. g
div.; Brazilian 41 per Cents., to 93/ ; Russian 44 st
per Cents., to 971 t ; and Spanish 3 per Cents., to gl
441. Piruvian 3 per Cents. remain at 71, but V
Dutch 4 per Cents. have receded to 101.

The Ocean Marine Insurance shares are 2 to 21
prem.; the Universal ditto, I to I prem. ; the Bank

of Turkey is dis. to par; and the Canadian Loan,
2 prem.
Iu the Railway Share Market the transactions
have been limited, and prices have not shown $
!ueh Tariation. North Western advanced 6s. ;
and Caledonian, Great Western, South Eastern, 11
'Led Vale of Neath, 10s.; Eastern Counties and st
Midland have declined is., and Great Northern Si
and Laitcsaihire and Yorkshire 10s.

The Foreign and Colonial lines are flat—Lom- sr
I.)ardo-Venetian are 111 a ; Grand Trunk of Canada
have declined about £1; Great Western of Canada,
6°.; East Indian, 10s. ; and Great Indian Penin St
-
Nal& improved is. st
t
Joint-Stock Bank and Miscellaneous Shares are s s
at slightly improved prices. Bank of Egypt have
advanced 55.: Oriental Bank, ss. ; London Joint- s
Stock, 55.; Royal Mail Steam, 10s. to 15s. ; Van
Ilienian's Land declined 10s.

1191111111 K 711NT3 TIM DAY AT ONE 043L00K.
Ilittuk Stock
'' per-Cent. Reduced Annuities 94
i 1
„..6 per. Ceo.t. Consols .A.nnuities
94
a uw. 3 per. Cent. Annuities
Alum 30 Years, expire tith"„&pril, 1885 173 i
10. lia Stock
Ditto 5-per Cent.
Ditto Enfaced Paper, 4 per cent —
Ditto 5 per Cent.
Ditto 5} per Cent.
aitta Debentures, 1858 973
973
Ditto
?itto Bonds,, L 1,0001859 ..
Ditto
-under £l,OOO
itols for Account Mrch)....
tizehequer 14ills. , £l,OOO, lid 26 3
Ditto' 4500 '
41111115111 SF YORZION FINDS AT ONE O'CLOOK.
%Itzilian 5 per Cent.
bitto 41 per Cent. 1858
i
'4llian. 6 per Cent —
r
eDitto 4 3 per
' uvian 43 per Cent —
, Ditto 3 per Cent.
'ortUguese, 1853, 3 per Cent.
~ bike Small
4twefan, 1322, £ St., 5 ner Cent —
b_Ditto 43 per cent., 1819
"'PIMA 3 per Cent. 443
, Ditto Passive
llrkish 6 per Cent
Ditto New Loan
Ditto 'Account
bat, tkaranteed, 4 per Cent.
Dividends on the above payable in London.
match siChange, 12 Guil. 23 per Cent —
Dittc; Certificates, 4 per Cent.
. .. • TWO O'CLOCK.
. COnsols, Money
. .. Ditto Account