The Sun.
London, England, 1858-01-13 00:00:00

MONEY MARKET

eJD

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocic.

The Money Market continues very easy, and the
expectation that the Bank directors will reduce the
minimum to-morrow, tends to check the present
demand. It is imagined that the next alteration,
whether adopted at once, or a week hence, will not
be more than 1 percent., but as the terms out of
doors are already as low as 4 and 4i per cent.,
such a modification will not secure much discount
business for the authorities, who shortly afterwards
perhaps will find it convenient to make a further
concession. At first it was imagined that the down-
ward movement would stop at 5 per cent., but now
an unusually low rate is anticipated, many believing
that money will become quite a drug in
the market. Without pretending to say what
quotation may be attained, it may be safely averred
that nothing short of a sudden efflux of specie, or
a rapid absorption of capital for the prosecution of
fresh joint stock enterprise, can arrest the relaxa-
tion of the rates of interest. For the moment
specie is pouring in from various quarters, and on
a scale that must occasion a large accumulation in
the Bank vaults, but if the continental exchanges
continue to recede, and the Bank of France, as
stated, is losing gold, some diversion of the Austra-
lian, and other supplies, may shortly take place,
though not, perhaps, to such an extent as would
trench very seriously upon our metallic reserves.
A further addition of 175,0001. was made yester-
day to the Bank's stock of bullion.
The Teviot has brought 200,1681. in Australian
gold, the whole of which, it is expected, will be
taken into the Bank.

In the Silver Market there is no variation, bars
being quoted ss. lid. per oz. standard.
A further slight decline took place yesterday in
the rates of exchange for bills drawn upon the
principal cities of the Continent, but the movement
was unimportant.
The Liverpool Cotton Market yesterday exhi-
bited a very quiet appearance, and values of most
descriptions were unaltered. The sales amounted
to 4,000 bales, 500 of which were taken on specu-
lation and 500 for export. The Railway Share
Market closed steadily, and the transactions were
of a limited character.

At the meeting of the members of the National
Provident Institution held to-day, it was moved and
carried that policies of members who* might die
by suicide or duelling, should be held valid, pro-
vided they had been assured for four years pre-
viously.

Although there has been scarcely any alteration
in the English Stock Market it appears dull and
heavy. Speculation is exceedingly quiet, and it
seems as though the orkators required some new
event upon which to continue their transactions.
The amount of engagements already outstanding,
however, is very large, and pending the meeting of
Parliament, it is only naturll that there should be
a little less activity and buoyancy. At the pre-
sent moment there is rather more firmness.
Consols for money have been 941 1, and
94a 1 for account. The latter are now 942.
The New Threes are 94 ; the Reduced, 94i
New 2i per Cents, 78 ; and Bank Stock is 222.
Long Annuities are 2 1-16 ; Exchequer Bills, 15s.
to 20s. pm. ; Ditto Bonds (1859), 99 ; India Stock,
' 221 ; and India Bonds (under 1,0001.), par.
Foreign Stocks are dull, a smaller business than
usual having been done, and prices show no par-
ticular variation. Turkish 6 per Cents. are 97i 98;
ditto 4 per Cents., 1041 ; Brazilian 4i per Cents.,
952 ; Mexican 3 per Cents., 20k ; Peruvian 4i
per Cents., 78 ; ditto 3. per Cents., 531 ; Spanish
New Deferred 251 ; said Dutch 4 per Cents., 99.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 53/4 6; Mexican,
20112- ; Peruvian 41 per Cents., 76 78 ; Ditto 3 per
Cents., 52 54 ; Portuguese 3 per Cents., 44 45 ;
Russian 5 per Cents., 108 110 ; Ditto, 4k per
Cents., 98 100 ; Spanish 3 per Cents., 41k 411 ;
Ditto New Deferred, 25k 26k ; Ditto Certificates,
—; Ditto Passive, —.
In the Railway Share Market this morning
business has been rather active, and prices
have fluctuated about to 1 per cent.
Caledonians, Brightons, and North British,
declined " ss. ; South Eastern, and Chester
and Holyhead, 105.; and East Lancashire 15s.
Lancashire and Yorkshire, and Manchester, Shef-
field, and Lincoln, improved ss. ; Eastern Counties
and South-Western, 10s. ; and Great Northern
and Great Western, 11. The Foreign and Colonial
lines were dull, but prices slightly improved.
Eastern of France advanced ss. ; Grand Trunk of
Canada, 10s. ; Great Western of Canada, 55., and
East Indian, 10s.
Mining Shares were in rather better favour.
Par Consols realise 178 18 ; Tin Croft, 3/ ; St.
John Del Rey, 111 ; and United Mexican, 4i
For Joint-Stock Bank and Miscellaneous Shares
there is a fair inquiry. City Bank have improved
1/. ; English, Scottish, and Australian Chartered,
ss. ; London and Westminster, ss. Crystal
Palace shares are at la 1k ; Eastern Steam at 5 ;
Peninsular and Oriental Steam, 73i ; and South
Australian Land, 34.

BRITISH FUNDS.—CLOSING PRICES—THIS DAY.
(From the °final List;)
Busineosdoue.
tiink Stock
3 per gent. Reduced Annuities
3 per lit,ll, Ccnsols annititieb
New c per Cent. Annuities 94 j
New 2i par Cent. Annuities
boil, Annuities, expire sth Jan. 1860... 2 1-16
Ditto 30 Years, expire sth Jan., 1860 1 13-16
India Stock
I iia tiondm, £lOOO
'litto, under £lOOO par
k)ok soil La- Accono,, Feb 4
.hmlter Bills, 4td.
£lOOO . 20 15 22 16 22 p

15 18 p
S s4ll
Exchequer Bonds, 1858, L per Cont —
Ditto, 1959
PRICES OF FOREIGN FUNDS—THIS DAY.
B rannan 5 per Cent.

Ditto 1852, 4i per Cent.
,
Mexican 3 per Cent 204 1
Peravian Bonds, 4i per Cent 7B i 8
Ditto Account Jan. 29
Ditto 3 per Cent . s3i
Ditto Account
3%rdinian Boirs, 5 per Cent.
Sp 'lido Bowls, 3 por Cent.
Ditto New Deferred, 3 per Cent.
Tarnish Bonds, .6 per cent 97i ii
Ditto Account ..
Ditto Guaranteed, 4 per Cent.
Ditto Account, Jan. 29 lo4i
Dividends on the above payable In London.
Dutch Exchange, 2? per Cenl..., 12 Guilders 64i '
1 iDo. 4 per Cent. Certificates
itittEß O'CLOCK.
Consols, money
Ditto account (February 4)

The Prince of Prussia has proposed that on the occa-
sion of the approaching royal marriage a general political
amne.ty should be proclaimed.
The Malta journals announce the death of Miss
Catherine Lyons, aged 61, sister of Admiral Lord Lyons.
The funeral was conducted as privately as possible,•the
01,11.9 persons present being his lordship, Capt. the Hon.
F. Egerton, of the Royal Albert (flag ship), and a few
officers. _

On Friday last the death of the Earl of Winchelsea
took place at Haverholm Priory, L•snia+hire. Tae
deceased nublernan was in his sixty-seventh year.
Owing t, the length of the Indian news we are cora-
pelled to omit our report of the courts of law at West-
minster. Nothing, however, of very great interest
occurred during the morning.
At the Westminster Police-court, this morning, a
fashionably dressed man, who gave the name of Ross,
was charged with robbing a gentleman named Lee of
his watch. He was remanded.
The Elgin Courier says that a son of Mr. C. Dickens
has joined the 42d Highlanders•
The 139ard of Works directed that a letter be sent
to the City authorities calling their attention to the
nuisances carried on in the vacant ground in New Far-
ingdon-street,
Reinforcements are daily being scut off from Chatham
for the army in India.