The Sun.
London, England, 1858-12-10 00:00:00

MONEY MARKET AND OITY NEWS.

P
CITY, Two o'CLocK.
Irv: the markets for forcigß

Dill

and colonial produce Lave been very inactive. and
in inost instances previmig quotations have been
with difficulty sustained. Tea, however, lias exhi-
bited considerale firmness, and at public sale some
of the finer qualities advanced in value about 2d.
per lb. In sugar the transactions have been con-
fined to requirements for home consumption, little
export business having:been reported, and in some
instances lower quotations are current. Coffeehas
been almost neglected, and only the superior
qualities of plantation Ceylon fonnd buyers at
about former rates. Rice has been rather firmer ;
and in spices and fruit a moderate business has
been transacted, previous prices being obtained.
Saltpetre continues in steady request ; and tallow
has been in better demand, at slightly improved
values. P.Y.C., on the spot, being quoted 50s. 6d.
to 50s. 9d., and spring delivery, 50s. 9d. to 51s. 3d.
'Per cwt. _ _ _

The Liverpool. Cotton market yesterday closed
heavily, and prices were unaltered. The sales
were estimated at 8,000 bales. In Railway Shares
a fair amount of business was transacted, and
values tended upwards.
About £64,000 in gold was taken into the Bank
of England yesterday, being part of the remittance
by the Marco Polo.

The Peninsular and Oriental Company's steamer
Sultan, which leaves on Saturday for Bombay,
will take out £42,780 in silver.
The alteration made yesterday in the Bank of
England rate of discount has given rise to some
adverse criticism ; but surely the directors, who
have adopted a successful policy during the last
two years, amidst difficulties of no ordinary de-
scription, are fully qualified to regulate their own
affairs. The maintenance of the minimum at 3 per
cent. has not prevented money from declining in
other quarters to 2 and 21 per cent. The
commercial: public were free to choose the
open market, if they preferred it, where
greater facilities were granted than at the
Bank of England, and they have no doubt availed
themselves of the privilege. The Bank were justi-
fied in not relaxing their terms just before the dis-
Atribution of the October dividends. The exchanges
then presented an unfavourable tendency, gold was
soon afterwards withdrawn, and several important
remittances from Australia and other sources were
immediately appropriated on continental account.
It sometimes requires an exportation of three or
four millions sterling to rectify an adverse
exchange. This is confirmed by the highest
authorities examined by the select committee
of the House of Commons. Now, however,
these unfavourable tendencies have all partly, in
Some cases wholly, disappeared. The approach of
the ,end of the year, moreover, has not augmented
the demand for money, speculation is discouraged,
and the position and prospects of affairs all stand
forth in justification of the measure so unexpectedly
adopted yesterday afternoon.
- -

Sorne buoyancy has been apparent in the Mar-
ket for English Securities to-day, the reduction in
the Bank rate having given a slight impulse to
speculation. The satisfactory Bank of ' France
'return, the influx of gold into the Threadneedle-
street vaults, and the rise on the Paris Bourse,
have all assisted in giving support to values. Con-
sols have been 971 1, but they are now 981 1, a few
sales in realization of profits having been effected.
Special transfers are marked 981 1, and the ac-
count 971 and 971 a. The March Exchequer
Bills are 345. to 375. prem. The New Threes and
the Reduced Annuities have been dealt in at 9710
and. India Loan Debentures at 99a-, being firmer.
- In the Foreign Stock Market the transactions
are rather numerous and prices have improved.
Turkish 6 per Cents. are 921 931 ; and ditto 41
per Cents. 1051 1. The New Scrip, Ist issue, is
dis. to 1 prem. ; and ditto, 2d issue, fi to _a prem.
Buenos Ayres 6 per Cents. are 86 ; Peruvian 41
per Cents., 931 ; Portuguese 3 per Cents., 471 481;
Russian 5 per Cents., 11 ; Venezuela 5 per Cents.,
42 43 ; and Spanish New Deferred, 31. Chilian
New Loan Scrip is 9 a prem.

Messrs. D. Bell, Son, and Co., give the following
as the prices of the American Securities :

Redeemable. Prices.
United States S per Cents 1867-1868 102 104
Do. 6 per Cent Bonds
Alabama 5 per Cent. Bonds — 78
li.entuchy 6 per Cent. Bonds lB6B-72 91 93
Maryland 5 per Ct. Str. Bonds 96 98
Massachusetts 5 per Cent. Str.
• 102 104
Bonds
Ohio 6 per Cent. Stock lBB6 961 971
Pennsylvania 5 per Ct. Stock. 83 85
Pennsylvania 5 per Ct. Bonds 1877 86 87
Tennessee 6 per Cent. Bonds. Divers 84 86
Virginia 6 per Cent. Bonds
Virginia 5 per Cent. St. fonds 1888 86 88
Boston 5 per Cent. St. Bonds 92 94
Illinois Central 7 per Cent.
Illinois Central 7 per Cent. 1875 79 81
Illinois Central 6 per Cent.
(Freelands)
Do. shares, 60 dols. paid
Michigan. Central 8 per Cent 1869 85 87
Do. do. shares
New York Central 6 per Ct ,
not convertible .
New York Central 7 per Ct ,
convertible, from June 15,
1864 94 97
1857-59
Do. do. shares 74 76
Do. do. shares l4 15
Do: do., Ist. do.
New York and Erie, 7 per Ct ,
3d mortgage
New York and Erie 7 per Ct.,
convertible 1862 40 42
New York and Erie, 7 per Ct.,
sinking fund . 1875 40 42
Panama 7 per Ct., Ist mort-
age Str. -Bonds, not cony.. 18.59 98 99
Increased buoyancy has been the leading feature
in the English Railway Share Market to-day, a
further advance of about 1- to 1 per cent. having
been realised on most of the principal lines. Eastern
Counties, Great Northern, Great Western, Lanca-
shire, and Yorkshire, North Western, South
Western, North British, and North Eastern (Ber-
wick), httve improved 10s. ; South Eastern ss. ; and
Brighton, Midland, and North Eastern (York),
£1; Caledonians have been flat, having receded
about £l. The town undertakings have been
almost at nominal rates, no change of importance
having taken place in quotations. In the Colonial
market East Indian have improved 10s. ; and
Grand Trunk and Great Western of Canada, ss.
Joint-Stock Bank and Miscellaneous Shares have
shown little activity, and prices are steady. Lon-
don and County have advanced about ss. to 10s.

1883

BRITISH FUNDS--CLOSING PRICES.
3 per Cent. Reduced Annuities
per Cent. Consols Annuities
New 3 per Cent. Annuities
India Stock
Ditto Debentures 99i
Ditto Bonds, £l,OOO
Consols for Account 971 11 1 x d
March June.
37 I 35 6 3
34 i -

Exchequer Bills, £l,OOO, 2d.
Ditto Small, id.

FOREIGN FUNDS—CLOSING PRICES.
Brazilian 5 per Cent.
Ditto 1858, 44- per Cent. 951 1
Buenos Ayres, 6 per Cent..........
Ditto Deferred lB/ /
Chilian, 6 per Cent.
Ditto 41 per Cent. Scrip . i p
Peruvian 4/ per Cent
Ditto Account
Ditto 3 per Cent.
Ditto Account
Portuguese, 1853, 3 per Cent.
Russian, 1822, £ St., 5 per Cent ll
Ditto 41 per Cent.
Spanish 3 per Cent ............. : ......
Ditto Account
Ditto New Deferred, 3 per Cent. —
Ditto Account
Spanish Cora. Cert. of Coup. not funded 6l,
Turkish 6 per Cent —
Ditto Account
Ditto New Loan Scrip —
Ditto Account
Ditto 2d Issue
Ditto Account
Ditto Guaranteed, 4 per Cent.
Ditto Account
Venezuela, 5 per Cent. .
Ditto Account
Dividends on the above payable in London.
THREE O'CLOCK

Consols, Money
Ditto Account, Jan. 11

LOSS OF A BOAT'S CREW AT DAVIS' STRAITS.—
The Arctic, of Peterhead, arrived at that port on Sunday
last, with one fish—say about 25 tons oil—and upwards of
2 tons bone, and 200 seal skins. Reports the Polar Star,
with one fish, and the St. Andrew (of Aberdeen), clean ;
both were to leave the day after the Arctic, and she left on
the 29th October. The Alihi (of Aberdeen) was spoken,
but no date given, clean. The Arctic lost a boat's crew.
They had struck a fish, which dragged the boat away a
Considerable distance, and then down into 'the water. The
number of men lost was six.