The Sun.
London, England, 1858-07-19 00:00:00

COMMEaCTAL INTELLIGENCE.

CITY, Two o'CnoeK.
The intelligence from the various manufacturing
districts this morning represents that during the
past week business has not been quite so buoyant ;
most of the manufacturers, however, were fully
employed on orders not yet completed. At Man-
chester, in the absence of any operations of impor-
tance, the demand for goods suitable for the Indian
markets was dull, and the tendency of prices was
in favour of buyers. Yarns, however, continue in
fair demand, and the orders on baud are large
enough to prevent any diminution in values ; in-
deed, the late nominal reduction in price has been
fully recovered. The woollen cloth trade at Leeds
has been moderatively active. Increased employ-
ment has been given to the operatives, and a
full average amount of business has been done
at full prices for the better qualities of cloth
suitable for the autumn. For the United
States there has been a rather active demand,
and prices generally rule exceedingly steady.
Business at Bradford has been less active, as manu-
facturers generally are fully engaged completing
orders that have been some time on hand. In the
worsted trade a little more machinery has been
employed, and the working classes generally are
getting more employment. The carpet trade at
Halifax is moderately brisk, and most of the mills in
the neighbourhood were running full time. At
Leicester the hosiery trade has slowly improved,
and the demand for the autumn it is expected will
be very brisk.

Accounts frorn Liverpool report that the Cotton
Market on Saturday closely firmly, and prices of
all descriptions were fully maintained. The sales
were estimated at 8,000 bales, 1,000 of which were
taken by the speculators. The Railway Share
Market presented a rather active appearance, and
the 'valuei of all the leading lines were a shade
higher.

Too much importance seems to be attached, par-
ticularly among the speculators at the Stcck Ex-
change, to the movements of the bullion in the
Bank of England. It is only natural, in the ordi-
nary course of business, local and continental, that
there should be a good deal of fluctuation
in the supplies held there. This remark is appli-
cable at all periods ; but if at one time more
than another, it is when the stock of precious
Metals has accumulated t) such an excessive amount
as that reported in the recent balance-sheets. In
New York, Paris, and in this city, the Banks
are gorged with specie, because of the stag-
nation of trade, and the sudden stand to
which it was brought a few months ago.
The rapid augmentation which has taken
place since that momentous crisis, has from
time to time been pointed to by the ignorant
as 4 subject for congratulation, although, in
fast, it has been the result of commercial ad-
versity. The reaction in the money market
being caused by the same calamity, there
18
just as much reason to feel satisfaction
at a rate of discount of 21 per cent. as an increase
The bullion to a total of nearly 20,000,000/.
°l.%s° who thus close their eyes to the facts
the. case, their origin and effect, and
consider that a favourable feeling should
kielist in consequence of this plethora, have
'6O been :foolish enough to manifest uneasi-
ness at the late impetus which the demand for ac-
c(Anniodation received, and are now desponding on
account. of the efflux of gold, to the extent of about
amillion and a quarter sterling. Provided specu-
lation continued inactive, and no pressure were pro-
d need by an absorption for extraneous purposes, a rise
in the terms of discount, and a diminution of bullion
bete, and in the other great centres of commerce,
Would, in reality, be the most encouraging mo ,-e-
Inent that could occur, because it would
le iedicAtiee of a revival of business, and
step towards a return of national prosperity.
About 210,0001. in Australian gold by the Royal
Chatter was sent into the Bank on Saturday. The
Teviot has arrived with 140,2861. ; the Colombo
for the East to-day will take out 54,4401.
XiAlktentint; special meeting of the Waterford and
Railway Company to-day, a resolution
" Passed for issuing 149,0001. debentures at 6
Per Cent* interest for five years, and at 5 per cent.
!'tetwarcls. The object of the money was not for
t.he purpose of works on the line, but to liquidate
the Qovernment loan of 102,0001. and for the nay-
Ment of the other debts of the company.
This day the adjourned meeting of the Bombay,
43.004 and Central India Railway Company took
place at the London Tavern, when the election of
hire Was proceeded with, and Mr. Wilde and
.11.; %men were declared successful by a slight
majority on the show of hands. A ballot was de-
nlaaded by Colonel Rolland and Mr. Key, the un-
tl?ccesful candidates, which the chairman, Colonel
•I'ench, agreed to, and the result is to be reported
11Wednesday next.
rja When the English Stock Market opened this
kar)ilting it appeared buoyant, and prices farther
Nivaneed, owing to continued purchases, but a
114 e in these operations, succeeded by a little
spec
selling, has since caused a frac-
tval reaction. The tone of the market, how-
heel!, ninst be considered good ; there is a better
amnia, transactions are more freely concluded,
t• ecefidence is expressed in the course of poli-
teal affairs. Consols have been 951 -a for money,
ta:1(1 955 for account. The latter were at one
t-see 951 buyers, but they are now at former quo-
tltiB'
The New Three per Cents are 96i ; and
4.10 Reduced, 96i. India Debentures are 991 ;
111c1 larch Exchequer Bills 375.
'took is 222 to 224. prom. Bank
hale the Foreign Stock Market the transactions
ti been limited, but quotations are firm. Turkish
e Per Cents. are 954 ; Spanish Passive are sup-
e_orted at 88, Sardinian are 90, and Russian 5 per
ceoetits. 1121.. Brazilian Scrip has risen to dis-
rt and Peruvian Dollar Bonds are 721 i•
t__,he transactions in the Railway Share Market
slid have been of a very moderate character,
,° Prices have fluctuated to the extent of about
the
leases the: ft Or th e variousminrgeports being current with
dividends, on renewal of
leases. Caledoniaps Nor th• Weitern, and
IsTorth British, declined ; and Great Northern,
10s. to 15s. Midland and improved 51. North-E astern (York)
North ; Eastern Counties, Great Western,
Eastern (Berwick), and South-Eastern, 10s.
iuThe Foreign and Colonial lines have been dealt
t° genie extent, but prices have exhibited little
variation.
44,J-oil:it-stock Bank and Miscellaneous Shares
quiet, at previous rates.

_____ __
441811 FUNDS.—CLOSING PRICES —THIS DAY.
Tb)
Tiara kSto, -k (Prom the Ogcsal Lists
g
e . 224 22
Per Cent. Reduced Annuities
£6
P
95i lAiii
_ 'at. eunaola Annuities
'26i 6 1 it
i.ew Three Der Cent. Annuities
(11-1 g Annuities expire sth Jan. 1860
intitt. 30 Yea'rs,-expire sth Apl., 1885 18i
. 220 17 19
a Lek Di.ttn Bonds, £lOOO - .....
'''''''''''''''
i, &PI t. under .2100.. .... ...................
er:l4 Loan Debentures
1:-/atini800::: Account
........
... 3,la,i;c:. June.
lehequerßills--
zihati
5ipe.0..itr..m.c.0..n0.t....... .. ...........
Bra • •
103
DS,THIS DAY.2_
Ditto Account
97i
Ditto 1852, 4 per Cent.
06
itto 1858 44 per Cent.
i d par 1
1 d
bittd 's • ' - -
)34, et,P, 1853
_
I)til°s ADelieemrrierds' 6 per
Cont.
Pi
Daniall3onds, 3 pet Cent., 1825
la. Ditto 5 per Cent. ..... lO3
20
'el'ea4 3 Per Cent ............... ... .
Ditto Ate t
20 19i
1. . coun .............. .
count 80nd5,4.4 per Cent —
Ditto 3 per Cen-t ........................... CBl
Portugu,se per Cent , 1853
Ditto Account .
-
$ issian, 1822, St. 5 per Cent ... ll2l
Sardinian 5 per Cent'... . .
31)tritall Bowl. 3 per C.)n t: .............
____
tlitte Account ......... 4'
.. DM._ Passive ...
...
...
...
...
▪ 8i
rurkish Bonds, d pel ..... .......... .
Von Ditto, Account ........ ..,
Dieznela Bonds,s per Cent
tto Account .... ............. .. ......... :
• Dividend;on the above .pa;;;L'e in London.
Penvilan Dollar Bonds, 4i per Cent__ 72i I
TLIREE O'CLOCK.
Contiolp, mone ............ . ................. Qsii i
Ditto acc0unt,,,,,,........................... 95i_g

St.
St.
St.
St.