The Sun.
London, England, 1858-01-21 00:00:00

ONEY MARKET

A.ID
COM KERC JAL INTELLIGENCE.

CITY, Two O'CLOCK.
The advices from the provinces, although de-
cidedly of an improved character, still report occa-
sional failures, but they are not of magnitude, and
'are, in most instances, anticipated either from pre-
vious rumours or from the nature of outstanding
engagements. Much regret has been caused by
the suspension of two old-established firms at New-
castle, viz., Messrs. Matthew, Plummer, and
Company, general merchants, and Messrs. Clarke,
Plummer, and Co., of the Northumberland Flax
mills. The liabilities are stated to be very large,
but the assets being also considerable, hopes are
entertained of a satisfactory liquidation. A meeting
Of the creditors will be called as soon as an investi-
gation can be made, and a report furnished respect-
ing the prospects of those interested. There can be
no doubt that the late pressure has been more
severely felt in the North of England than persons
resident here generally imagine, but the actual
stoppages have not been so numerous as might
have been expected.
The Liverpool Cotton Market yesterday closed
steadily, and quotations were fully maintainnl.
The sales were estimated at 15,000 bales, 4,0,10 of
which were taken by the speculators, and 1,000
by the exporters. In the Railway Share Market
a better feeling presented itself, and a moderate
business was transacted, at rather higher prices.
The Silver Market is quiet, at previous rates.
Business is generally dull during the few days suc-
ceeding the departure of the steamer. The specie
movement continues most satisfactorily, the itn•
ports still being largely in excess of tho export 4.
To-day 15G,1411. is reported from Mexico, and the
arrival of remittances from Australia is hourly ex-
pected. The amount of gold sent into the Bank
yesterday was 25,0001., and the total of the
precious metals must now exceed 14,000,000/.

The Bank of England directors, contrary to
general expectation, have made no alteration in the
minimum rate of discount. It was thought that the
terms would have been reduced to 4 per cent., espe-
cially as the bullion is being daily augmented through
the influx of gold. The money-market thus presents
the anomalous feature that while the official rate i•d
5 per cent., bills of good quality can be negotiated
is Lombard-street at 3 per cent. The mainte-
nance of the minimum under such circumstances
is ridiculous, but, while the present system lasts,
the public must not be astonished at such peculiari-
ties.

The Funds have been firmer to-day, and the quo-
tations show an advance of it per cent., notwith-
standing the Bank rate is supported at 5 per cent.
A large purchase has been made—viz., 150,0001.
—for investment, and this has no doubt ex-
ercised a beneficial influence. Consols for trans-
fer have been 94i to 95, and for the account
94-i 95, but they are now 95 to 95,1, respectively.
The New 3 per Cents. are marked 95i g, and the
Reduced, 95i ±. Exchequer Bills are rather
Satter, viz., 19s. to 235. premium ; the Bonds are
99/ ; and Indian ditto, (under 1,0001.) 14s.
premium.

Foreign Stocks are inanimate at former quota
tinns. Turkish 6 per Cents. are 98k 99, and the 4
per Cents. 1044 Russian 5 per Cents. are higher,
being 110 k ; Ditto 4 per Cants., 99k, which is a
decline of about per cent. Mexican 3 per Cents.
are flat at 20i. Peruvian Dollar Bonds have de-
clined 1 per cent., viz., to 55 ; and Dutch 4 per
Cents. are steady at 99i to 100.

The last week's railway receipts, ascertained up
a 0 this day, are in round figures as under :

1858. 1857.
Great Western £25,425 £24,016
North-Weidern
11.496 12.159
13onth-Western
Brighton 10,726 10,606
Midland
South-Eastern
Great Northern
Lancashire and Yorkshire 18,680 21,688
Bristol and Exeter 4,943 5,176
Mast Lancashire 4,965 6,057
Manchester, Sheffield, & Lincoln 8,703 9.004
North Stafford
North-Eastern
Oxford, Worcester, and Wolverh... 3,687 3,624
Belfast and Ballymena 1,104 1,102
...Edinburgh and Glasgow
Glasgow and South-Western
Soottisit Nortb-Eastern 3,375 3,190
Northern of France
Grand Trunk of Canada
Great Western of Canada 8,092 10,198
There has been a very limited business reported
411 the Railway Share Market this morning, but
several instances prices have slightly improved.
Eastern Counties, Edinburgh and Glasgow, Great
Northern, Great Western, Manchester, Sheffield,
and Lincoln and Norfolk, improved 10s. ;
Brighton declined 10s. ; and South-Western, 155.;
In the Foreign and Colonial lines no business of
any importance was transacted, and little variation
U prices can be quoted. Northern of France are a
'bade lower, and Grand Trunk of Caniida and
Great Western of Canada realised about yester-
day's quotations. The New East Indian lines
remain at previous rates.
Mines, Banks, and Miscellaneous Shares are a
shade flatter. Bank of Australasia declined 11, ;
London and County advanced ss. ; London Joint-
Stook, 10s. ; and Union of London receded 10s.

In the Miscellaneous Market, South Australian
'Land improved about ss.

BRITISH FENDS THIS DAY AT ONE
(From the Official List:l . _ .

_
Busineos done.
/Sank Stock .. .. 226 25 24
3 per cent. Reduced Annuities
3,Per vent. Console Annuities 9li 5h 44 5A
den 31
3 per Cent. Annuities 9SA 5 iSi
4‘, 31 per Cent. Annuities
Loma Annuities, expire sth Jan. 1860 —
.auto 30 Years, expire sth April, 1885 l7l
Bonds, A:1000
Ditto, under 21000 l4 p
Ciotsois ler Account,
Exchequer Mils, ttd.
21000
£5OO ....., 25 20 24 p
Small
Exchequer Bonds, 1858, 34 per Cent —
Ditto, 1359
TaRIOES OF FOREIGN FUNDS Al ONE O'CLOCK.
liexican 3 per Cent
artesian Bonds, 1822 i: St., 5 per Cent llok
Ditto, 44 per Cent.'
Tarkleh Bonds, 6 per cent .
Ditto Account 9B
Ditto Guaranteed, 4 per Cent.
Dividends on the above payable in London.
Dutch .111xchaug, 2:1 per Cenl., 12 Guilders
Do. 4 per Cent. Certificates
Peraviau Dollar Bonds, 44 per Cent. 55
TWO O'CLOCK.
Consols, money
Ditto, Account

20. VERNON SMITH AND THE BOARD

OP CONTROL,

In the debates on the India Bill of 1853 there
Was one poi at on which Mr. Vernon Smith suc-
cessfully interested himself, and that was in the
increase of the President's salary to 5,0001. a year.
In trying to raise the miserable pittance, as it
Was called, of the Directors he was not able to
assist, and when the salary of the Chairman of the
Company was proposed to be raised from 1,0001.
tch 1,500/- a-year, Mr. V. Smith advised the
Indian Minister of the day against the proposal.
But when the question was about the salary to be
Paid to some one of the few persons with Parlia-
esentary standing, who, under present circum-
stances, are likely to become the Min.ster for
We find a different spirit pervading Parliamentary
circles. Mr. Vernon Smith's proposal met with
tgeneral concurrence, Mr. Williams alone objecting
o it. Lord Palmerston, who seldom speaks on
Indian niatters, added his approvsl of this arrange-
bleu% an d the office, which in a few months was to
fall into the bands of Mr. Vernon Smith himself,
las by his own motion, invested with the highest
salary which is given to Government officers.
01 course it is merely a coincidence, but it is
a .verY/ curious one, that the honourable member
tWas raising the salary of an office which he was to
°°., himself the first to enjoy on the new terms; but
. .
Voie trait of character exhibited by the circle ar-
14111ent who decide those matters is very s,gnificaut;
11:44 gives US some idea of the spirit in which legis-
would be carried on, and utited if the entire management of India fell into
patronage distri-
Ilk, hands'
Where
%al of purely Parliamentary men.
thtertegé of a peer of large influence is oncernedc
W.onld be no difficulty in making the office to
ti'Le et he aspires worthy of his acceptance, but for
ti,utatioz.°X )t a
' the hard-working men of Indian re-
-11) merely nominal salary is sufficient for
/14117iee't'l "—Morning avertiser.