The Sun.
London, England, 1858-10-15 00:00:00

MONEY MA

:1ITI" NEWS.

CITY, Two O'CLOCK,

More activity has prevailed in the Foreign and
Colonial Produce Markets during the last few days,
and in most instances higher rates have been ob-
tained.

Tea has improved about id. to 3d. per pound,
owing to the late advices from China. For sugars
of the better qualities, fit for home use, there has
been more inquiry, and prices have improved
about 6d. per cwt. ; in other qualities, how-
ever, there has been only a limited business
transacted at former quotations. In the refined
market there has been very little business, and
Prices have been steady. Coffee has been in fair
demand, more particularly the fine sorts of Plan-
tation Ceylon, and full rates have been current.
Cocoa has slightly given way in price, and rice has
been exceedingly dull. Spices continue in fair de-
mand, and for new fruit the inquiry has improved,
particularly for the better qualities of currants.
Saltpetre has been steady, and the public sales of
indigo have proceeded with steadiness, the rates
realised at the opening of the sale being generally.
well supported. Tallow continues firm, and for
speedy delivery prices show an upward tendency.
The Cotton Market at Liverpool yesterday con-
tinued firm, 8,000 bales having been sold at steady
rates. On the Stock Exchange Railway Shares
were dealt in to a rather large extent, but values
Were unaltered.
The next quarterly sales of Colonial Wool will
commence on the 4th of November. The imports
are estimated at about 40,727 bales.
The determination of the Bank directors to keep
oP the minimum at 3 per cent., although money is
not worth more than 21 per cent., naturally gives
rise to some discussion, and many are disposed to
condemn a policy so essentially different from what
the public hitherto have been accustomed to.
It is almost impossible to find a sufficient
excuse for this extreme degree of hesitation,
which is not likely to strengthen confidence in
their administrative ability. It is ridiculous to
suPpome that a reduction to 21 per cent, would ex-
cite speculative enterprise, yet this appears to be
!Ile only plea that can be urged in justification of
these proceedings of the board. It is true that a •
large
number of sovereigns have been with-
drawn for Turkey, and that the money mar-
kets of Germany are less encouraging, but these
influences are not immediate, nor are they likely to
cause a sudden reaction in financial affairs. The
supplies of available means, since the dividend
Payments commenced, have materially increased,
and the difference between the official rate and value
of accommodation out of doors is still about 4 percent.
It does not follow, however, that because a further
delay has taken place, the Directors have resolved
to go below 3 per cent., and should their re-
sources accumulate they may resolve, at their. next
meeting, to adopt a course more in accordance with
the present state of the discount market.
About £150,000 in sovereigns was withdrawn
from. the Bank yesterday for Turkey. This is the
Est contribution towards the new loan, and it is
expected that further remittances to the extent of
£300,000 will be shortly announced.
The demand for money, which was checked by
the desire evinced by the commercial community to
await the decision of the Bank Court before ob-
taining what they required, is now rather more
active, but the market shows no variation requiring
special notice. About £185,000 in specie has been
announced by La Plata from the West Indies.
u.'Yh
o ldee Committee of the Spanish-American Bond-
dars have received a letter from Mr. Mocatta,
the arrival of General Paez in that city being
I:3rt,ly expected, he had thought it advisable, for
et: advantage of the bondholders, to delay- his pro-
de'ulgs in relation to the foreign debt until the
eneral has arrived.
It At the half-yearly meeting of the West Flinders
QlailwaY Company to-day, a dividend of 2s. 6d. per
are Was declared. The receipts of the last six
in
‘24118 amounted to £18,767 7i. 4d., and the ex-
Vlditure to £13,430 13s. 3d., leaving a balance of
'46,336 14s. Id. After a short discussion the re-
Port was adopted.
The English Funds have been •rather firmer,
hut they have not fully recovered the depression
teticcd yesterday afternoon. The effect of the
Batik not having lowered the rate has subsided,
kid it is not expected that the withdrawal of gold
to Turkey will prevent the further accumu-
lation of bullion. Consols have risen to
,981 -2 for money, and 98 for account.
allk Stock is 2211. The New 3 per Cents, are
flat at 971 2-, and the Reduced Annuities 97 1.
821 New 21 per Cents. have been dealt in at 82 to
4.. The March Exchequer. Bills are marked 355.
preen., and the June 28s. to 31s. prem. India Loan
Otto,
of the first issue are 992 ; the second
(utto, 991 ;
-4- and the Scrip, second issue, 991.
Foreign Seen-rifles arc rather active, and prices
a,e well supported. Turkish 6 per Cents. are 941
e
frtto 4 per Cents., 1051 ; Peruvian 3 per
l‘lats., 691; Portuguese 3 per Cents., 462 ; Spanish
New Deferred, 301 ; Brazilian 5 per Cents., 103 ;
nador New Consolidated, 151 154 ; Grenada
Free Active, 204; Mexican 3 per Cents., 201;
lynch 3 per Cents., 73f. ; and Dutch 4 per Cents.,
Turkish Scrip has been rather actively dealt
2 , the Ist issue is now 1 to 11 prem. ; and the 2d,
T
2 preen,, being firmer.
Itle transactions in the Railway Share Market
havethe declined about Ito 1 per cent. Great Nor-
C' Midland, Midland, and North Stafford declined ss.
aleclonian and South-Western, 10s. ; North-Wes-
itru and South-Eastern, 15s. ; and Great Western,
F° Brightens have improved about ss. The
an reign and Colonial lines have been very quiet,
I\l prices have exhibited little al teratioß. Great
"tern of Canada and Grand Trunk of Canada
have-declined about 10s.
Joint Stock Bank shares show little activity.
4'ank of Egypt and Ottoman Bank have improved
about ss. ; and Provincial of Ireland, 10s.
In the Miscellaneous Share Market London
General Omnibus Company have dclined 10s.;
and Peninsular and Oriental Steam improved £l.
1311

ITISII FUNDS THIS DAY AT ONE O'CLOCK.
Bonk Stock
a Per Cent. Reduced Annuities 971 1
1,, Per Cent. Consols Annuities
jTy. 3 per Cent. Annuities
7 e,ly 21 per Cent. Annuities - 2
In
Stock
1,.tt0 Debentures
'lll,.tto ditto, 2d Issue
99-1:1
Ditto Scrip, 2d Issue • 991
r,_ Bonds, £l,OOO
''')lsols for Account 9Bf /
lixe March June.
b. hequer Bills, £l,OOO, 2d. &1%d... 31
',lli° tzoo
Ditto 'small' ,• •
ltd
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian, 5 per Cent
Dper4% Cent.
atilah, .1825,
3 per Cent.
I,'lli
''ador New Consolidated
.1 I
Grenada New Active, 21 per Cent.
20
Mexican 3 per Cent
• eruvian, 41 per Cent.
i,
D itto Ditto 3 per Cent..
01
4-ortuguese, 1853, 3 per Cent
461 Account
"13,40i5h 3 per Cent
Ditto New Deferred, 3 per Cent 3Ol
-uitto Account
.I)itto Passive
TPaWillis h Coro. Cert. of Coup. not funded 6
3) -ri
itt New 6r Ce
LoannScrip it t.
P,,s
"itto Account
~ebitto Guaranteed, 4 per Cent.
v uezuela, 5 per Cent.
15
tto Deferred 2 per Cent
Dividends on the above payable iniLondon.
Preneh Itentes, 41 per Cent. Ex. 25f —
Dutch
3 per Celli.73f.
'itch Exchange, 12 Guil. 2t per Cent —
Ditto Certificates, 4 per Cent.

30 28

TWO O'CLOCK.

Consols, Money
Ditto Account 9Bl
98!

1, we are glad to learn that Lord Adolphus Vane
o;l'pest has recovered from his late indisposition. His
iit'snikand Earl Vane have left London for Machynlleth,
No thug
ales.
Covent_ Mr. Augustus Harris, the stage director of the
I,garden Opera, has signed a lease for the Princess's
)ertatre' of which he takes possession at the termination of
serteonellarles Kean's tenancy -at the end of the present
p_,On Saturday last Messrs. John Reid and Co.,
ltGlasgow, launched a very pretty little screw steamer
the Panope, built for the service of the Greek Go-
Illtoirhat largey
~,tuneht. Th have also on the stocks two other steamers
'''er, PR On rime aervice•