The Sun.
London, England, 1856-12-19 00:00:00

COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
Letters from Liverpool state that the Cotton
Market yesterday closed with animation, and,
compared with the current rates of last week,
prices of all descriptions were extreme. The sales
amounted to 12,000 bales, 2,000 of which were
taken by the spectilators. The Railway Share
Market exhibited alliet appearance, but on the
announcement thatke Bank of England had re-
duced their rate of discount it slightly improved.
There has been less animation in the Colonial
Produce Markets this week, the demand hav-
ing subsided, and some of the principal articles
have ruled rather cheaper. The Christmas holi-
days commence next Wednesday, and the market
will noi re-open until the 6th proximo.. Sugar has
been exceedingly dull, but, holders being firm, prices
have generally been maintained. Where sales have
been effected rather lower terms are said to have
been accepted, but the particulars have not in all
cases transpired. Plantation Ceylon coffee has 139411
in fair request at full rates, but for Native the*:
quiry has been less active. At the public sales of
tea no alteration occurred in the prices of Congo;
but the Assam kinds went at irregular quotations.
Rice has been rather cheaper. Rum is at im-
proved rates. Saltpetre has declined ls. per cwt.
Cassia lignea has receded ss. per cwt., and other
spices have been at about previous values. Tallow
has declined about 6d. per cwt.
The reduction in the Bank minimum rate of
discount has produced a very favourable impression
in most quarters; but the continued restrictive
policy pursued by the Bank of France has checked
the buoyant feeling which the alteration at first
excited, because it is now feared that 6 per cent.
will be maintained as the quotation for several
weeks. The discount firms have lowered their
allowance for deposits "on call" to 51 per cent.,
and to 5i per cent. for those at seven days' notice.
There is now a moderate demand for discounts, but
no pressure is experienced. At the same time,
however, the payments on account of revenue, and
the liquidation of the annual accounts, will, no
doubt, continue to occasion a good inquiry for
accommodation at full rates.
It is expected that the Bank of England Return
to be published this evening will be very favour-
able. A large addition to the Bullion and Reserve
of Notes is anticipated, with a further slight decline
in the other securities. It is reasonable to pre-
sume a decided improvement has taken place, or
the alteration in the minimum rate of discount
would not have been made yesterday.
The French Funds declined 20 centimes yester-
day. This slight reaction is attributed to specula-
tive sales, and the reduction of the rate by the
Bank of England does not appear to have been
known until after business hours.
The Committee of the Stock Exchange are
adopting precautionary measures in order, if pos-
sible, to prevent the recurrence of such frauds as
those recently committed by Robson and Red
path.

The Peninsular and Oriental Company's vessel
Indus, to leave Southampton to-morrow for India
and China, will take out about 492,6001., chiefly in
silver, to Bombay.
_The Funds have been supported with firmness
at the closing prices current last evening,
Which, however, are per cent. below the
highest values attained after the Bank Court
adjourned yesterday. There were some heavy
sales by the Greeks and other speculators, which
imparted a heavy tone to the market, and there is
still an absence of buoyancy, although the prices
are steady. Consols have been within per cent.
of 93i all the morning. Exchequer Bills are
heavy, at 2s. to ss. premium. The New 3 per
Cents. are 93i to 94, and the Reduced 93i 4.
Bank Stock is 2171.

Foreign Securities are very dull. Turkish 6 per
Cents. have been 95i a. and 95g Spanish 3 per
Cents. are 42k. Sardinian 89 to 89i ; and Dutch
per Cents. 97.
The following are the nominal prices of Foreign
stocks : Grenada Deferred Bonds, 6 7 ; Mexi-
can, 211 2 ; Peruvian 41 per Cents., 76 8 ; ditto
3 per Cents., 54 6 ; Portuguese 3 per Cents.,
44 6 ; Russian 5 per Cents., 106 8 ; ditto 41 per
Cents., 95 7; Spanish 3 per Cents., 42/ ; ditto
Deferred, 24 ; ditto Certificates, 51 6 ; ditto
Passive, 51 6.
Messrs. D. Bell, Son, and Co. state that during
the past week there has not been much activity in
the market for American State Securities, whilst
for railroad bonds there has been a good demand
at improved prices.

Redeemable. Per Cent.
United States 6 per Cents. 1867-1868...106 107
United States 6 per Cent. Bonds 1868...106 107

STATE SECURITIES.
Alabama 5 per Cent BO 82
Kentucky 6 per Cent. Bonds 1868-1872... 90
Maryland 5 per Cent. (Sterling Bonds)... ... 90 92
Massachusetts 5 per Cent. (Sterl. Bonds). ... 98 100
Mississippi 6 per Cent. Pl. Bk.
Bonds lB4l-1871... 43 45
Mississippi 5 per Cent. -Union Bk Bonds ... 16 18
Pennsylvania 5 per Cent. Stock
.. 75 76
Pennsylvania 5 per Cent:Bonds 1877... 81 83
Tennessee 6 per Cent. Bonds
... 83 85
Virginia 6 per Cent. Bonds 1886... 83 85
*Virginia 5 per Cent. (Sterling Bonds) 1888... 84 86
LOANS OF CITIES.
Boston 5 per Cent. Bonds 1883... 85 87
Montreal 6 per Cent. Bonds 1856-1865... 83 85
New Orleans 6 per Cent. Stock 1883... 78 80
RAILROAD BONDS.
Illinois Central 7 per Cent. Ist Mortgage,
not Convertible 1875... 85} 86i
Illinois Central 6 per Cent 1875... 80 82
Illinois Central 7 per Cent. Freeland
Bonds 1860... 99 100
Illinois Central (Shares), $25 paid
Michigan Central 8 p. Cent., Convert-1M:
94 96_
Do. do. do.
New York Central 7p. Cent., Convert 1864... 91 93rd
New York Central 6 per Cent., not
Convertible 1883... 81 83
liew York and Erie 7 per Cent. 3d Mort
865
87i
N.gYagoerk* and Erie p. . Cent. Con..v.ert-ible 1862... 82 84
N. York and Erie 7 per Cent. Sinking
Fund 1875... 85 87
Panama 7 per Cent., Ist Mortgage (Ster-
ling Bonds), not convertible 1859... N
Panama 7 per Cent., Ist Mortgage 1864... 90 92
Pennsylvania Central 6p. Cent., Ist Mort 1880... 90 92
A very limited business has been done in Railway
Shares this morning, and the variations in the
value of the principal lines has not been to any
great extent. With one or two exceptions, prices
have shown a downward tendency. Great
Northern, Lancashire and Yorkshire, Brighton,
Midland, and North British, were about ss. lower;
and East Lancashire, Edinburgh, Perth, and
Dundee, Great Western, North-Western, and
South-Eastern were higher by about ss. to 10s.
The French lines were dull, but Lombardo-Vene-
tian and Grand Trunk of Canada slightly im-
proved. The East Indian declined about 10s.
In Joint-Stock Bank Shares prices have given
way to a slight extent. Bank of Australasia,
Ottoman Bank, and London Chartered of Austra-
lia have been done at rather lower prices.
In Miscellaneous Shares Canada Land have ad-
vanced to 125, and the Government 6 per Cents. to
1131, Crystal Palace brought 21, National Discount
Company, 6. The shares of the Mons Colliery
Company are quoted at prem.

BRITISH FUNDS THIS DAY AT ONE{ t'CLot;ii.
( From the Official List.)

fq3a,nb‘, done.
Bank Stock
3 Per um/. Reduced Annuities
N 14,, ner Oent. Annuities 931 4
lOdg Annuities, expire sth Jan. 1860...
Ditto 30 Years, expire sth April, 1885 lB 146
Consols ?or Account
.Exchequer Bills, lid.
1000 .
7

3 . P
linen •
Ditto Bonds, 1858, 3. per Cent 9Bi 4
Ditto, 1,359
I'itICES OF FOREIGN FUNDS AT ON} O'CIWF
Sardinian Bowls, 5 per Cent. .. ........ , 89i 9
53Pnrii,h Bonds, 3 per Cent —
Ditto Account
Turkith Bonds, 6 per ccut
Ditto Account
Of ioenne , ti,, Fityrro p-cahla or L•roon
batch Exchange, 2t4 per Cen',., 12 Guilders
Ditto 4 per Cent. Certificates ........
TWO O'CLOCE.

Comols (Money)
Ditto Account

............. 931 91

Cardinal Morlot, the Archbishop of Tours, arrived at
Rome on the 6th, to fulfill his "highly important !Lis-
liv,.l°ll"—vehatever that may be—whether in reference to
'lapoleou M.'s coronation, or to something else.