The Sun.
London, England, 1860-07-03 00:00:00

MONEY MARKET AND CITY NEWS•

CITY, Two O'CLOCK.
The dealings in the foreign and colonial produce
markets during the last few- days have been on a
limited scale. Tea has been at about previous 50 !Belfast and Ballymena
values. For sugars there has been a fair inquiry stock ;kirk.,
181
ii rt. i
.W,
Los.l,
aannAl aravunao.l.
for the better qualities, and prices are well sus- ;55 ißlackburn
4331.03 - tth. Aneda Tyne.
tained ;in the refined market, however, a slight to mid Alld.Co.
Caledonian Is tolan d
decline has taken place. Coffee has been in steady sslocoet
demand, but few dealings have been effected, owing 10 Car
marthen
g&Cardigan
to the quantity announced for public competition 20
glorrt.
ialt:ldrocllinZassage
during the next few days. Rice and spices have 20 Cornwall
gets
no div.
not shown any material alteration, "and in salt. lg Do t !untilo pc perm.
petre the transactions have been unimportant. 50 Dublin r ;3beelgisit)djuttioßc.
Tallow has been in better request, and the demand st2ocsk .pausni,inerAWAb. Jtmc.
from the home trade for consumption has in- stock
E liastern Nunties
stock
creased. Prices for both present and forward de- stock East rn Union,d loA,
do
k
livery show an improved tendency. 25 Do Nw A. late EU3ds
20 East Suffolk
There.were no bullion operations at the Bank of
England yesterday. '1 he dollars by the last Mexi- stock r,illrinbv.efa:t,Gll3.ausggerve
can steamer have been sold ss. 2id. per oz., being
stook
grrtithes&s Clyde Junction
Id. lower; but the bar silver has not yet been stock Glasf.T. and S. Western '
10 Great Nthn. of Scotland
dealt with. stock Great Northern ..
The steamer Pere, which leaves to-morrow for stock Do goo
11. stdooelc
India and China, will take out £538 in gold and stock Gt. S. &W. of Ireland
ssttocl GriTtotslestern
£282,803 in silver, making a total of £283,338, of Val gus. stock
which the Government remit £93,894 to Hong
stock Lancashire
Irish South-eastern
took Lancashire & Yorkshir,
Kong. stock London and Blackwell
A fair amount of business was recorded in the 2
st:sk L0u.,0n., C li.V • • andS Coast
Liverpool cotton market yesterday, but prices were stock Ltd.eit ili. Western
depressed. The sales amounted to 10,000 bales. stock Loud. eighths
depressed.
The Tagus has been announced from Lisbon with 25 Veilierry (Al,c Coleraine
stock Mane.rzet. Finilsnx,.tollmen 1
£26,916 in specie. 50 llaryport and Carlisle
The greatest excitement prevails among the 12i Do do I shargs
stocklo Metropolitan
leather trade, in consequence of several failures,
including one of the most influential firms engaged stock Do airming. & Derby
in this department of business—viz., Messrs. Street- N M1(310. rs.l7o..cosf Ireland
held, Lawrence, and Mortimore, whose liabilities .5 5114 Krt..i.,,
represent £BOO,OOO to £900,000. The suspension of 100 NewCasiganClib' trfi;ile
g 7TT r eewry Warnpt. & Ros.
wry,Sz Armagh, def
this house, in fact, has produced the utmost con-
ocNorfo
sternation, since, immediately it' st
transpired, fears 50k N hn.lk Counties Union
were expressed relative to the stability of other stock North
ock oh British
stock 'corr.tDev.Rail&Dk.Stock
firms with whom they were connected. stock D. A stk ; A recs no d.
Greater activity is now reported in the Money ITl)noty3oirchas beenpd.B
stock
Market, the inquiries both at the Bank of England stock Norioastfick ..13•e•rvric•ir.
and other channels being very numerous ; the rates, st2oesk
purchase
Leeds ... ...... .....
moreover, exhibit an upward tendency, bankers and stock 11,3° North London
d
brokers requiring a fractional advance for the paper 19.16.4 Noorrth STantroordsiiir•e• .... .•
10 N. and S. W. Junction .
they negotiate. 12 Not. &Grantham Rail.
The failures in the leather trade, and the appre- 10 Peebles ..utl...
henson that they will lead to other disasters, have 10 ar;ms mil oey..i.. . _
created anxiety with regard to the moethly liquida- stockE Scottish Central
stock
tion of commercial accounts, which will take place sttoct Do Scot. Mid. stock...
to-morrow. Although weakness may prevail in (11.(e) RtrtoilliestioruernUenir
sheer
certain departments of business, however, it is stocks.toc Southou IZavaenri
•
satisfactory to know that mercantile credit gene- stock South Wales .. ::•• • • .
stock S. York. and River Dun
rally is well maintained. 20 Staines, Wok,. and Wol
At the meeting of the London Dock Company 25 StiTktoog & Darlington &
Hartlepool
stock o
held to-day, it was stated that the net profits forßoAtoare
the six months ending May 31st amounted to stock
Do Presme NO
k&Rai
•1•• • • • • •
£200,678 11s. 6d., out of which it was agreed to gg nttmertv.en L
pay a dividend of 1-3- per cent. for the half-year, 1210 800 .. .
......
..
leaving a balance of £143,425 to the credit of the stock Va le of. N a
Sta.ien.. ii
Victori and Pim

company.
Our market for English Securities continues in
a heavy state, and there is very little business
either for money or account. Consols are 931 1.
The failures have exercised an unfavourable in- I s
fiuenee. The New Three per Cents. and the Re-
duced remain at 931, ; Bank Stock is 2291 and
230 ; India 5 per Cent. Enfaced Paper is steady at
961 ; ditto 51 per Cent. at 102, and the Deben-
tures are 961 ; Exchequer Bills are flat at par, 3s

prem.
Business in the Foreign Stock Market continues
moderately active, and prices are tolerably well sup-
ported. Turkish 6 per Cents. are 771 to 78 ; ditto
New, 60 to 601; Brazilian 5 per Cents. are firmer
at 99; ; Portuguese at 431 44 ex. div. ; Sardinian :1,
at 811; Spanish at 481 ex. div. ; ditto Deferred at 81
391 I ; and ditto Passive at 19 ; Russian remain at :1
108 ; but Mexican are flat at 21. 81
The Ocean Marine Insurance Shares are 1f I
prem. ; the Thames and
.Mersey, 1 1 prem. ; and 71
,1

the Universal, prem.
Business in the Railway Share Market has s
been rather active, and prices have been fairly
maintained. Caledonian, Eastern Counties, Great
Northern and North-Eastern (Berwick), have im-
proved 55., and Scottish Central, 10s.; Edinburgh, s
Perth, and Dundee, Midland and Norfolk have

declined 55., and Vale of Neath £l.
In the Foreign undertakings no dealings were
recorded, and quotations were unaltered. 8
The Colonial lines have shown little variation of
importance. Grand Trunk of Canada have receded si
to2B 281 ; and Great Western of Canada are steady
at ; East Indian realise 100 to 100-4-, Great
Indian Peninsula 98.
Joint Stock Bank and Miscellaneous Shares have
s,
been in moderate request. Bank of Australasia ad- „
vanced to 69 and 69*; English, Scottish, and
Australian Chartered to 161 ; Oriental Bank to w
431 ; and Union of London declined to 24-at.
In the Miscellaneous Market Royal Mail Steam se
realised Wt.

DRITISH FUNDS—ONE O'CLOCK.
Bank Stock
3 per Cent. Reduced Annuities 93 I / i
New 3 per Cent. Annuities
India Stock
Ditto Enfaced Paper, 4 per Cent. —
Ditto 6 per Cent.
Ditto 51 per Cent.
Ditto Debentures, 1858 961
Ditto Bonds £l,OOO
Ditto under £l,OOO
Consols for Account, 10th July 931 1 1
Aid's Stook for Account —
Ditto 5 per Cent.
Exchequer Bills, £l,OOO, 13/4d
D.tro £5OO 1 pin
Ditto Small
FORRION FUNDS—ONE O'CLOCK.
Brasilian 5 per Cent
Ditto 41 per Cent. 1852 B7l
Ditto 41 per Cent. 1858
Mexican 3 per Cent —
Ditto Account
Peruvian 41 per Cent
Ditto (Uribarren), 43/4 per Cent.
Portuguese 3 per Cent., 1853.
Ditto Account
Russian 6 per Cent. 1822, £ St .. 108
Sardinian 6 per Cent.
Spanish 3 per Cent
Ditto New Deferred
Ditto Passive
Dividends on the above payable in London.
TWO O'CLOCK
Consols for Account, ex div. 931 i

HEAVY FAILURES IN THE LEATHER is
I
TRADE.

The heaviest failare that has occurred since 185'

was announced yesterday, the firm being that of s
Messrs. Streatfeild, Laurence, and Mortimore, in
the leather trade. Their liabilities are stated at
about £BOO,OOO or £900,000, and it is believed they
will really be found to amount to £1,100,000. Their
acceptances in circulation are for £147,000, and the
total of bills which they have under discount at
various leading banks and discount establishments
is little short of £BOO,OOO, of which it is appre-
hended at least £600,000 will be dishonoured at
maturity. The average profits of the house during
the last two or three years have been estimated at
£40,000 per annum, but it is evident mated
at
must have been delusive, and an opinion prevails
that the liquidation will be disastrous. At a pri-
vate meeting of the creditors to-day a prospect of
more than 10s. in the pound is said to have been
held out. There are few, however, who think that
this will be realised. One of the partners is a very
considerable shareholder in the London Joint-Stock
Bank, and another has recently had a bequest of
£15,000, which will become payable in a week or
two. The firm are connected with a house at
Liverpool, but the extent to which the latter will be
compromised has not transpired. The books have
been placed in the hands of Messrs. Coleman, Tur-
quand, Youngs, and Co.
The above affair has thrown the entire leather
trade, which constitutes a most important branch
of business, into confusion, and about half a-dozen
or a dozen smaller houses are expected immediately
to succumb. The stoppage of Messrs. J. Smith
and Co., of Bermondsey, and Messrs. Smith,'
patient,and Smith, was notified early in the morn-
in
g, ancl, other names were subsequently men-
tioned. From the manner in which the various
houses that are now breaking down have drawn
upon each other there is reason to assume that the
entire mischief has arisen, not from any unavoid-
able revulsions or misfortunes connected with this
department of commerce, but from a too sanguine
resort to those facilities of credit which are among
the worst features of modern business.

SHARE MARKET.-(THIS DAY.)

ORDINARY SHARES AND STOCKS.

581
d
Id ip
20 21
691
22 23