The Sun.
London, England, 1858-09-24 00:00:00

MONEY MA

PITY NEWS.

CITY, Two o'CLocK

Business in the Foreign and Colonial Produce
Markets during the last few days has been rather
quiet, holders in most instances asking high
rates, which have in a great measure checked con-
sumption. At the public sales of tea about former
rates were realised for China descriptions, but fine
qualities of Assam went at an advance of 2d. to
3d. per lb. on the current rates of the previous
sales. For the better qualities of sugar for
home consumption there has been a very moderate
inquiry, the trade not having operated to any
extent, owing to the high rates required. In the
common sorts, for export, a fair amount of business
has been done. Coffee has been in good demand,
and fine qualities of plantation Ceylon have realised
full rates. The demand for rice is inactive, and
rather lower rates are current. In rum the deal-
ings have been to a 'moderate extent, and at full
rates for all descriptions. Spices have been at
steady values, and new fruit has slightly declined
in value, owing to the rather large arrivals and the
unwillingness of the trade to make purchases so
early in the season. In saltpetre and tallow the
transactions have been limited, at about previous
rates.

Accounts from Liverpool report that the Cotton
Market yesterday closed firmly, and values were
fully supported. The sales were estimated at
10,000 bales. In Railway Shares a moderate busi-
ness was transacted, and prices were unaltered.
The Board of Trade returns, briefly reviewed in
these columns yesterday, seem to have attracted a
good deal of attention, and much satisfaction is
expressed at the favourable progress which the
recovery in commercial affairs appears to have
attained. There is no doubt the improvement will
continue, and although very gradual hitherto, it is
healthy and spontaneous, for while there is an in-
disposition to force transactions beyond prudent
limits, it is evident that the requirements of con-
sumption both- at homeand abroad are stifaulating
our manufacturing industry and promoting a
steady expansion of our mercantile relations. The
increase of business, however, doesnot yet appear to
withdraw any considerable sum of money from the
discount market, where continued easiness is still
observable. As there are abundant supplies, the
competition necessarily attendant upon such a
state of things keeps the rates of dis-
count at ,a point considerably under the
Bank of England minimum. Although
there is a difference of Ito per cent. between
the quotations out of doors and those charged by
the national establishment, it is questioned whether
any reduction will be made in the official charge,
notwithstanding the continuous influx of gold.
The expected alteration in the rate of discount at
the Bank of France took place yesterday. It is
now fixed at 3 per cent. No improvement on the
Bourse occurred in consequence, showing that the
effect of the measure, which, in fact, has been
spoken of for several weeks, was anticipated.
The Newcastle Chronicle states that the com-
promise with the smaller creditors of the Northum-
berland and Durham District Bank has been very
wisely accepted, and ultimately it will embrace at
least two-thirds of the whole number.
A small amount of specie, viz., £1,615 has arrived
by the Tagus, from Gibraltar. About £6,000 in
gold was taken into the Bank yesterday.
In the absence of business, the market for English.
Securities, though exceedingly firm, continues to
present a most quiescent appearance. There is little
speculative dealing, and the daily variations are most
unimportant. Unless transactions were entirely •
suspended it is difficult to conceive a more languid
and monotonous state of things. Still indications
of buoyancy promoted by the satisfactory condition
of monetary and political affairs, are constantly
manifested. The question of a further rise, which S
the majority anticipate, hinges upon the proceed- si
ings of the public. If, when the dividends are paid, Si
they came forward with more freedom as buyers, s
a higher point would undoubtedly be attained, g;
provided, of course, the general state of affairs gl
continued favourable. Consols have been
971 for money, and 971 1 for the account. gl
The March Exchequer Bills are 345. to 375. ; June st
ditto, 245. to 275. ; and ditto Bonds, 1001 1, being git
rather firmer. India Scrip, second issue, 981; st
st
ditto Bonds (under £1,000) 14s. to 15s. prem. 1(
In the Fo.reign Stock Market prices are well
at
maintained, but business is rather restricted. Tu
kish 6 per Cents. are 961 ; ditto Ne w Scrip,
dis. ; ditto 4 per Cents., 1041 1; Brazilian 41 per 2:
Cents., 1858-9, 61 ; Peruvian 41 per Cents., 911 ; st
Sardinian .5 per Cents., 921; Spanish 3 per Cents.,
461; ditto Deferred, 30 ; ditto Certificates, 61; 1
and ditto Passive, 111.
According to Messrs. D. Bell, Son, and Co., the st
following are the prices of American Securities : 2

Redeemable. Prices.
United States 6 per Cents..... 1867-1868 104 105
Do. 6 per Cent Bonds .. 1863 105 1051
Alabama 5 per Cent. Bonds.. - 78
Kentucky 6 per Cent. Bonds.. 1868-72 91
Maryland 5 per Ct. Str. Bonds -9,
Massachusetts 5 per Cent. Str.
Bonds
Ohio 6 per Cent. Stock •
Pennsylvania 5 per Ct. Stock;
Pennsylvania 5 per Ct. Bonds
Tennessee 6 per Cent. Bonds.
Virginia 6 per Cent. Bonds ..
Virginia 5 per Cent. St. Bonds
Boston 49 per Cent. St. Bonds
Illinois Central 7 per Cent. ..
Illinois Central 7 per Cent. ..
Illinois Central 6 per Cent.
(Freelands)
Do. shares, 60 dols. paid
Michigan Central 8 per Cent
Do. do. shares . ...
New York Central 6 per Ct.,

1886

1021 1031
95 97
79 80
841 851
' 80 82
82 84
83 84

not convertible ..
New York Central 7 per Ct ,
convertible, from June 15,
1857-59
Do. do. shares
New York And Erie, 7 per Ct ,
3d mortgage
New York and Eric 7 per Ct ,

1877
Divers
1886
1888

' convertible
New York and Erie, 7 per Ct ,
sinking fund ..
Do. do. shares
Panama 7 per Ct., Ist molt-
gage Str. Bonds, not cony
Do. do., Ist. do.
Pennsylvania Cen. 6 per Ct.,
let mortgage, convertible
till 1860 .

1875 81 82
1875 81 83

1883

1864

1880