The Sun.
London, England, 1858-11-06 00:00:00

bred)

M 0 N.E I MA

ITY NEWS.

CITY, Two o'CLocK

The Bank of England return, completed to the
3d November, shows, as was generally anticipated,
some unfavourable features. The bullion, conse-
quent upon the drain for the Continent, and the
non-arrival of remittances from Australia, has been
decreased to the extent of about half a million,
while the reserve of notes also exhibits a falling off
of nearly three quarters of a million sterling. The
4‘ other securities," notwithstanding the minimum
rate of 3 per cent., still show that the discount
business of the national establishment has not de-
creased to any important extent, a slight augmen-
tation, on the contrary, having taken place. The
public deposits, owing partly to the active collec-
tion of the revenue, have increased nearly half a
million, but the private deposits have been trenched
upon to the amount of over a million sterling, the
employment for eapital having been more general,
Owing to the various new joint-stock schemes
lately brought into the market. The active circu-
lation has been slightly increased. In th© Govern-
ment Securities no variation has taken place. Sub-
joined are the principal items and the changes they
present

Active Circulation .. /21,362,845
Increase .. 137,985
Bullion .. • • .. 18,612,885
Decrease .. 519,591
Rest .. 3,103,986
Increase 2,987
Public Deposits 6,576,441
Increase .. . • • • 446,176
Other Deposits 12,249,726
Decrease .. 1,082,266
Seven Day and other Bills .. 859,263
Increase .. . 299
Government Securitie; 10,809,467
Decrease 322,202
Other Securities 14,807,909
Increase 24,772
•. ••
Notes Unemployed .. 11,041,095
Decrease .. 719,805
The diminution of the private balances, the in-
creased demand for money in Lombard-street and
at the Bank, and the advancing tendency of the
terms of discount, all denote a greater employment
for capital. For some months past trade has been
slowly recovering, and, as the movement will
doubtless continue without interruption, a larger
amount of accommodation will soon be required
for the ordinary purposes of trade. But the deve-
lopment of joint-stock enterprise and the negotia-
tion of loans, by absorbing an immense aggregate
amount, will also accelerate a return to an average
charge for discount facilities, the low point lately
attained—viz., 2+ per cent.—having resulted from a
stagnation of business and an absence of confidence.
At the same time, however, the mere withdrawal
of small amounts of gold from the Bank of Eng-
land, when the supplies are still in excess of the
average deposits, or a stimulus to the demand for
money, which has been unusually contracted,
Should not lead to a hasty conclusion that we are
about to experience an immediate recurrence of
pressure or stringency. There is nothing in the
present appearance of affairs to indicate any change
of that kind, but what may be experienced in an
extended employment of money consequent upon the
dissipation of the unfavourable effects produced by
the crisis of last year. The terms current in Lombard-
street are still + per cent. below the Bank minimum,
and it would not excite surprise if, before the end
of the month, 3 per cent. should be the general
charge for accommodation in Lombard-street, as
Well as at the national establishment.
The Liverpool Cotton Market, yesterday, closed
steadily, and prices were without any material
alteration. The sales were estimated at 8,000
bales. In Railway Shares rather more animation
was exhibited, and values slightly advanced.
Since Monday last the imports of specie have
been about £354,514, and the exports £237,216,
exclusive of the folllowing shipments direct from
London to the Continent, during the week ending
Thursday last :—Gold Coin—Boulogne, 360 oz. ;
Belgium, 40 oz. Gold in Bars—Belgium, 5,000 oz.
Silver Coin—Belgium, 600 oz. ; Boulogne, 3,600 oz.
The market for public securities has continued
in a depressed condition, and the Bank return
seems to have increased the unfavourable feeling
caused by the efflux of gold, and the state of the
exchanges. Consols for money and the 18th
have been 97 I 98, and for the December account, 981.
Bank Stock was marked 2251 to 2271. The New
Shares and the Reduced Annuities are 961 e ; Long
Annuities, 181. India Stock is 227, and the
Debentures of the first issue, 99i ; ditto second,
991 The March Exchequer Bills, 38s. prem. ;
ditto, June, 30s. to 325. prem.
In the Foreign Stock Markets business is rather
restricted, and prices are steady. Turkish 6 per
Cents. are 93 ; ditto Scrip, Ist issue, discount to
par; ditto, 2d, 1 to 11 prem. ; Brazilian 41 per
Cents. (1858), 97i ; Mexican 3 per Cents., 201 ;
Peruvian 4+ per Cents., 92 ; Russian 41 per Cents.,
1024 103?,- ; Sardinian 5 per Cents., 941 ; and Dutch
21 per Cents., 661.
In the Railway Share Market a moderate amount
of business has been transacted, and a rise of about
to * per cent. has taken place in most of the
Principal lines. Midland and North British have
advanced ss. ; Eastern Counties, Great Northern,
South Western, and North Eastern (Berwick),
108. ; and Caledonian, 15s. The Foreign and Colo-
tial lines are at steady quotations.
Joint-Stock Bank and Miscellaneous shares show
little variation from yesterday's quotations.

BRITISH FUNDS—CLOSING PRICES.
Bank Stock
3 Per Cont. Reduced Annuities 964 j I
3 per Cent. Consols Annuities
New 3 per Cent. Annuities
L°ll,9', Annuities, expire sth Jan., 1860 —
Ditto 30 Years, expire sth Apr., 1885.. 184 3-16
India Stock
Ditto Debentures Ditto 2d 2d Issue
Ditto Bonds, £l,OOO
Ditto under £l,OOO
Consols for Account 9B 74
March June.
lilxchequer Bills, £l,OOO, 2d. &lid. .. 38 1 32
Ditto L5OO, I 30

FOREIGN FUNDS—CLOSING PRICES.
Brazilian, 5 per Cent
Ditto 1858, 4k per Cent. 97
Mexican 3 per Cent
Ditto Account
Peruvian, 41 per Cent.
Ditto Account , 92
Ditto 3 per Ceut
' Ditto Account
Russian, 1822, £' St., 5 per Cent —
Ditto 44 per Cent.
Sardinian, 5 per Cent 94 i
Turkish, 6 per Cent.
Ditto Account
Ditto New Loan Scrip —
Ditto Account
Ditto 2d Issue
Ditto Account
Dividends on the above payable in London.
Belgian 4
j i per Cent., Ex. 25f, W
Dutch Exchange, 12,Gui1. 24 per Cent 661.
TWO O'CLOCK.
Consols, Money 97;—buyers.
Ditto Account, December 98 i