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

1110YEY 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 scaly,•. Tea has been at about previous
values. For sugars there has been a fair inquiry
for the better qualities, and prices are well sus-
tained ; in the refined market, however, a slight
decline has taker, place. Coffee has been ir. steady
demand, but few dealings have been effected, owing
to the quantity announced for public competition
during the next Tow days. Rice and spices have
not shown any material alteration, and in salt•
petre the transactions have been unimportant.
Tallow has been, in better request, and the demand
from the holm e trade for consumption has in-
creased. Prir3es for both present and forward de-

livery show an improved tendency.
There were no bullion operations at the Bank of
England yesterday. '1 he dollars by the last Mexi-
can steamer have been sold ss.2kd. per oz., being
d. lower ; but the bar silver has not yet been
dealt with.

The steamer Pera, which leaves to-morrow for
India and China, will take out £538 in gold and
£282,803 in silver, making a total of £283,338, of
which the Government remit £93,894 to Hong
Kong.
A fair amount of business was recorded in the
Liverpool cotton market yesterday, but prices were
depressed. The sales amounted to 10,000 bales.
The Tagus has been announced from Lisbon with
£26,916 in specie.
The greatest excitement prevails among the
leather trade, in consequence of several failures,
including one of the most influential firms engaged
in this department of business—viz., Messrs. S treat-
field, Lawrancd, and Mortimore, whose liabilities
represent £BOO,OOO to £900,000. The suspension of
this house, in fact, has produced the utmost con-
sternation, since, immediately it transpired, fears
were expressed relative to the stability of other
firms with whom they were connected.
Greater activity is now reported in the Money
Market, the inquiries both at the Bank of England
:and other channels being very numerous; the rates,
moreover, exhibit an upward tendency, bankers and
brokers requiring a fractional advance for the paper
they negotiate.
The failures in the leather trade, and the appre-
henson that they will lead to other disasters, have
!created anxiety with regard to the monthly liquida-
tion of commercial accounts, which will take place
to-vaorrow. Although weakness may prevail in
certain departments of business, however, it is
satisfactory to know that mercantile credit acne-
rally is well maintained.
At the meeting of the London Dock Company
held to-day, it was stated that the net• profits for
the six months ending May 31st amounted to
£200,678 11x. 6d., out of which it was agreed to
pay a dividend of 11 per cent. for the half-year,
leaving a balance of £143,425 to the credit of the
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-
fluence. The New Three per Cents. and the Re-
duced remain at 93 ; Bank Stock is 2291 and
230 ; India 5 per Cent. Enfaced Paper is steady at
961 4 ; 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 991; Portuguese at 431-44 ex. div.; Sardinian
at 811; Spanish at 484 ex. div. ; ditto Deferred at
391 II ; and ditto Passive at 19 ; Russian remain at
108 ; but Mexican are fiat at 21.
The Ocean Marine Insurance Shares are 11-
prem. ; the Thames and Mersey, 1 4 prem. ; and
the Universal, prem.

Business in the Railway Share Market has
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,
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.
The Colonial lines have shown little variation of
importance. Grand Trunk of Canada have receded
to 28 284 ; and Great Western of Canada are steady
at 111 ; East Indian realise 100 to 100 k, Great
Indian Peninsula 98.

Joint Stock Bank and Miscellaneous Shares have
been in moderate request. Bank of Australasia ad-
vanced to 69 and 69/ ; English, Scottish, and
Australian Chartered to 16i ; Oriental Bank to
43/ 1-1; and Union of London declined to 24,1 I.
In the Miscellaneous Market Royal Mail Steam
realised 601.

BRITISH FUNDS—CLOSING PRICES.
Bank Stock
3 per Cent. Reduced Annuities 93j
New 3 per Cent. Annuities
India Stock
Ditto Enfaced Paper, 4 per Cent.
Ditto 3 per Cent.
Ditto 51 per Cent.
Debentures, 1858 .-

Ditto Jebentt.... ~,,
Ditt. Bonds £l,OOO
6 10 d
Ditto under £l,OOO ..
Cossols for Account, 10th July .. 931 i 1
India Stook for Account 222 with div
Ditto 5 per Cent.
Exchequer Bills, £l,OOO, lid
D tr.:. £590 ~ 1 pm
Ditto Small
FOREIGN FUNDS—CLOSING PRICES.
Brasilian 5 per" Cent
Ditto 41 per Cent. 1852 B7/
Ditto 41 per Cent. 1858
Buenos Ayres, 6 per Cent. —
Ditto Deferred
Ohilian 6 per Cent.
Ditto 41 per Cent .. 821
Mexican 3 per Cent —
Ditto Account
Peruvian 41 per Cent
Ditto (Uribarren), 41 per Cent.
Portuguese 3 per Cent., 1853. 431
Ditto Account
Russian 5 per Cent. 1822, £ St lOB
Sardinian 5 per Cent , Bll
Ditto Account
Spanish 3 per Cent
Ditto New Deferred
Ditto Passive
Spanish Corn. Cert. of Coup. not funded.. 4/
Turkish 6 per Cent
Ditto Account
Ditto New Loan
Dividends on the above payable in London.
THREE 0' CLOCK.
Consols for Account, ex div 93a

21 E A V Y FAILURTRADEES IN THE LEATHEti

The heaviest failure that has occurred since 1857
was announced yesterday, the firm being that of
Messrs. Streatfoild, 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 hive been estimated at
£40,000 per annum, but it is evident that these
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 los. in thepound is said to have been
held out. There are few,
ope however,
fh who think that
this will be realised. the l partners
enden j Joint-Stock
isnt
-as
tverye e
k
considerable shareholder ine eth
Bank, and another hasrecent y had
b a bequest of
£15,000, which will become awl.thin a week or
wo. The • firm are connectedi
thel
batterhownistel
be
Liverpool, but the extent to which
compromised has not transpired. The
been placed in the hands of Messrs. Colerain", haveTur -
qaand, Youngs, and Co,
The above affair has thrown the entire leathereh
trade, which constitutes a most important branch
of business, into confusion, and about half a-dozen
o e
or a dozen smaller houses are expected immediatelye
to succumb. The stoppage of Messrs. J. H. Smith
and Co., of Bermondsey, and Messrs. Smith,
Patient, and Smith, was notified early in the morn-
ing, and 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.