The Sun.
London, England, 1858-01-26 00:00:00

MONEY MARKET

a. 11)

COMMERCIAL INTELLIGENCt.

CITY, Two o'CLocK.

At length the advicee from the United States
report some decided indications of improvement in
the New York markets ; but the effects of the late
crash are still painfully visible in all directions.
Several months will probably elapse before there is a
complete recovery, but as stocks of various kinds of
gold have been much reduced, an increased de-
mand is soon expected. Owing to the general dul-
ness in trade money was in limited request, and
good bills were rather scarce. In this re-
spect the position of the New York and
the London money markets bear a strong
resemblance, but as soon as the resuscitatio❑
is fairly commenced it will no doubt make rapid
progress. The United States Economist observes
that " a better feeling is beginning to pervade the
foreign dry goods market, and ere long we look for
a brisker business, but not to the extent of former
years, as few, if any in the trade, care much about
doing a very extensive business till such time as
they are able to see the way more clearly etor
them. The late financial crisis has placed nearly
every one in the trade in a crippled condition, and
many will find it about as difficult to recover
from the effects of the catastrophe as the
child who loses his way, wanders in to
the woods or marshy grounds, and then finds him-
self desolate and alone, with no one to lend a
helping hand. There is no denying that most of
those in the trade, in and out of the city, are so
peculiarly situated ; consequently most merchants
are indifferent about disposing of their fabrics un-
less for cash or short time, to any one whose credit
is looked upon with suspicion. Consequently one-
half the amount of goods sold in former seasons
will hardly be disposed of. The business done
will be within the limits of a healthy trade, and in
the end will be found more lucrative than the
extensive trading of previous years, on long credit
to all persons,. honest and dishonest.

Accounts from Liverpool report that the Cotton
Market yesterday prevented a very animated ap-
pearance, and quotations in most instances ad-
vanced id. per lb. The sales amounted to 12,000
bales, 2,000 of which were taken by the specula-
tors, and 500 by the exporters.
Although the Silver Market continues dull,
small parcels are still received from the Continent.
About 25,0001. worth wan received yesterday from
Antwerp. There is uo alteration to report in the
price of the metal, and it is expected that the
steamer, on the 4th proximo, will not take out more
than a quarter of a million sterling.
About 37,0001. in gold was received at the Bank
of England yesterday.

On the Paris Bourse there was a slight decline,
the 3 per Cent. Rentes having closed at 69 20 for
money, and 69 30 for the end of the month.
In Lombard-street, and'at the Bank of England,
the demand for money is still very quiet, and,
owing to the exvensive supply, the terms charged
for discount still tend downwards. A. reduction
of or 1 per cent. in the minimum is expected, on
Thursday, in which case discount accommodation
will no doubt be obtained in the open market below
3 per cent.

A meeting of the Sortridge Consols Mining Com-
pany was held to-day. The accounts showed a profit
on the three months' working of 4831. The assets
and liabilities exhibited a balance of 2,3641. 15s. in
favour of the mina. No dividend was declared.

At the meeting of the Cobre Copper Company
to-day a dividend of 1/. per share for the half-year
was declared.

The market for English Securities is very heavy,
a decline of nearly per Cent. having taken place.
Several sales, both real and speculative, have been
made, but business is dull, and the aggregate trans-
actions have been much smaller tbau the extent of
the variation would lead most persons to
imagine. The heaviness on the Paris Bourse
has tended to affect the quotations. Consols have
been 95 to 951 both for money and account, and
the present prices are 95 to 95i and 951 respec•
tively. The New 3 per Cents., in which there
have been several transactions are, 95 and the
Reduced are 95f Exchequer Bills are 19s. to
225. prem., the Bonds 100, and India ditto 12s. to
17e. pram. Bank Stock is 224 to 226.

Ir 41--
apparent, but prices are flat. Turkish n per-cents.
are 981 1, and the 4 per Cents. 1044. Mexican 3
per Cents. are fiat at 201 21. Brazilian 5 per
Cents., 102 i. Chilian 6 per Cents., 103. Peruvian
44 per Cents. are firmer, being 79. Russian 44 per
Cents., 991 ; and Venezuela 41 per Cents., 311.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 51 6; Mexican,
201 21; Peruvian 44 per Cents., 77 79 ; Ditto 3
per Cents., 53 55 ; Portuguese 3 per Cents.,
44 45 ; Russian 5 per Cents., 109 111 ; Ditto 44
per Cents., 98 100 ; Spanish 3 per Cents., 414 42 ;
ditto Deferred, 25i 26.
The transactions reported in the Railway Share
Market this morning have been limited, and a de-
cline of about per cent. may be quoted in
the values of most of the principal lines. Eastern
Counties, Great Westerns, and North-Eastern
(Barwick), declined ss. ; Caledonian, Great
Northerns, Brightons, North-Western, and South
Wales, 10s. South-Easterns and Midlands im-
proved 10s. Most of the other lines were
at previous quotations. The Foreign and Culo-
aial lines were very inactive, and lower rates are
current, particularly for the Canadian undertakings.
Owing to the unsatisfactory traffic re,urhs Grand
Trunk of Canada have declined fully 31., and
Great Western about 10s. ; East Indian have
receded 10s., and Geelong and Melbourne, ss.
to 10s.

Mining Shares have exhibited no material varia-
tion and in Joint Stock Bank and Miscellaneous
Shares a fair amount of business has been done in
some instances at rather improved rates. Union
of Australia advanced 10s. ; Ottoman Bank, 10s. ;
London Joint Stock declined 1/. ; Peninsular and
Oriental Steam improved 1/.

"%JUTISH FUNDS THIS DAY AT ONE 4/01.06A.
(From the Officsal List:)
Bank Stock
13nsineos done.
8 •
per Cent. icedueetiAnnuitto,
3 Ter Cent. C...:n001e ann,iitioe 95 A A 5
Now :1 per Cent. Annuities 9511 4d d
Lo.g Annuities, expire 6th Jan. 1860... 2A
Ditto 30 Years, expire 10th Oct., 1859 1 13-16
ducts,
nitto, under £lOl.O l7 12 p
llsalk Stook for Account 226
:nv
EzJiitiateur 11111 e,
iatXlt: .41110 .
.......,« •
::66022 19 23 p
22 19 p
Exchequer Bonds, 1658, 3i per Cent lOO
Ditto, 1359

PRIORS OF FOREIGN FUNDS Al ONE O'CLOCK.
Brendan 5 per Cent. ..:. lo2k
Milian Bonds, 6 per Cent lO3
Mexican .-. per Cent
•••
Ditto Account
_1
Peruvian Bonds, 4A per Cent —
"'Ditto Ace oust 79
Russian Boras, 11522, .k; St., E. per Cent — • Ditto, 44 per Cent.
Turkish Bonds, 6 per cent 99
10 , tto Guai .auteed, 4 per Cent.
DittoAcco lint .... .
Venezuela Bonds, 4i per Cent
____
DittoAcci7Unt ............... ..
Dividends on the above payable in London.
TWO O'CLOC IL
. . 95 ...... it
Consc.ls, money
95i i
Coincide for account

Privates letters have been received from French Guiana
to the 10th December. At that date the position of the
colony Mas highly satisfactory. The working of the
golthfielda continued under excellent conditions, and
the land cultivated by the convicts produced abundant
corf°o- The establishment of Oyapok for the cultivation
duce
aughx-cane had completely succeeded. The pro.
iLee copeddered to be of as good quality as that of
"5 Vogt India Islands.
lette
dorit r from Marreilles, dated yesterday, etates that
11,0 g the bad weather which prevailed on the coast of
Pan3i :Lcf from the let to the 15th of Jar nary, ace..iii-
reertil with stornls of extraordinary violence, two
The 'pat'ttmhiPs were cast ashore on the coast of the Riff.
ere: Atera pillaged the two ships and murdered the
Av Part
4ittiat.P ...,of the crews. One of these vessels was an
"Pug the other a Portuguese.