The Sun.
London, England, 1858-09-27 00:00:00

MONEY MARKET AND CITY NEWS.

CITY, Two O'CLOCK.

The accounts received from the various manu-
facturing districts mention that business during the
Past week has been steady, with slight symptoms
Of improvement in many of the leading branches.
In the iron trade of South Staffordshire there has
been little alteration of importance. In the
orders from the United States there has
been some improvement, but the demand
for home consumption still continues on a very
limited scale. At Birmingham the various branches
of business connected with the district had exhi-
bited little animation, and the fancy button and
Jewellery trades have been particularly quiet. A
steady amount of business has been done at Man-
chester in most kinds of cloths fit for home use, but
the inquiry for the Indian and German markets had
slightly fallen off. Manufacturers, however, were
busy upon contracts, and prices for both goods and
Yarns arc fully supported. The woollen cloth
trade at Leeds still continues extremely active, a
rather large amount of business having been done in
both heavy and light fabrics, and in the warehouses
and cloth halls there has been much activity. The
manufacturers and spinners of the neighbourhood
are working full time, and the operatives are well
employed. The worsted trade of Bradford con.
tinned steady. Owing to the high rates ruling
for wool prices had an upward tendency, and
advanced rates in several instances had been current
for piece goods. At Leicester the hosiery trade was
active. Yarns were firm, and wools had an upward
tendency in value. The various hardware trades
of Sheffield, Wolverhampton, and the adjoining
neighbourhood had been only moderately active,
and prices remained unaltered. _ _ _

The Liverpool Cotton Market on Saturday closed
firmly, and prices were unaltered. The sales were
estimated at 8,000 bales. In the Railway Share
Market a fair amount of business was done, and
quotations slightly improved.

There is no change to record in the general state
of the Money Market. It continues remarkably
easy, and the terms, although ranging as low as
21 and 21 per cent., still tend downwards. If, as
anticipated., the minimum is reduced to 21 per
cent., accommodation may soon be obtainable at 2
Per cent. As the available supplies in the hands
of the bankers and discount houses are ex-
cessive, competition will force the current rates
in the open market a fraction under the
°Reid quotation. This state of things will be
maintained until trade revives, or some new outlet
is provided for the free circulation of capital. It
is not for a moment supposed that the accumula-
tion will go on much longer without stimulating
None kind of enterprise, although at present no
desire is shown to embark in wild speculation. On
the contrary, the utmost prudence is exercised in
the selection of investments, and no support
kerns likely to be given to new undertakings un-
less of the highest order. In the course of a few
Weeks, however, when a large namber of small
capitalists will return to town, the tendency of
affairs in this respect will be more accurately ascer-
tained. Confidence is evidently gaining ground,
and it appears anomalous that money should be
kept idle in the banks and other places, on
deposit at nominal rates of interest, when
there are so many safe and remunerative securities
40W offering in the market, at quotations quite
incompatible with the satisfactory dividends which
they regularly return. It is generally supposed
that they will soon become in increased favour, for
the public are now more reluctant to enter into
new enterprises than for many years past.
The rate of exchange at New York on London
has risen to 1091 110, and, as the Africa has
brought £134,000, increased remittances are now
expected to arrive. On the 13th inst. the stock of
bullion at the banks in that city was £5,612,000.

The absence of Australian vessels has checked
the influx of gold at the Bank, but, as several are
now overdne, it will no doubt be speedily resumed.
The market for English Securities to-day has
been very buoyant. It opened at a slight advance,
With an improving tendency ; but shortly after-
\yards the Government broker purchased £16,000
stock, and a fresh stimulus was given to the upward
blovement. Consols have been 97=Z- 4 for money,
and 971 yfor the account. The March Exchequer
Bills arc marked 365. prem. ; and the June ditto,
245. to 278. prem. India Debentures have risen
to 981 99.

A large business has been transacted in the
,Foreign Stock Market, and prices have generally
improved. The principal movement has been in
the Turkish scrip. which has risen to par and
'Premium.

The original 6 per Cents. are 961, 97, and the
6 per Cents. 1041- Z. Spanish Bonds are rather
fiat, the 3 per Cents. being 46Z, 1 ; the Deferred,
261,1,-; the Passive, 111; and the Certificates 51-.
Peruvian Bonds are also heavy, the 41 per Cents.
951, ; the Urribarren, 791; ditto 3 per Cents., 73
Brazilian 41 per Cents. (1851) were 96a, ►.

The following is from the Committee of Spanish-
American Bondholders relative to affairs in Vene•
zuela The committee have this day received
advices from Mr. Mocatta, dated La Guayra, 28th
August, via New York, in which he states
that, through the intervention of Mr. Orme,
the differences between the English, French,
and Venezuelan Governments have been adjusted
on terms alike honourable to all, and that rejoicings
were then going forward. General Castro had
arrived on that day to ratify these arrangements,
and on the 30th they were all to go up to Caracas.
Mr. Mocatta trusts that he will now be able to
Proceed with his mission favourably, in which he
'will be supported by Mr. Orme, who has already
\von golden opinions. _ _

The Railway Share Market this morning has
inhibited signs of improvement, the advance in
most of the principal lines being about to per
cent. Manchester, Sheffield, and Lincoln, Mid-
land, and South-Eastern have improved 5s ; and
South• Western and North British, 10s. ; Great
Northern, Lancashire and Yorkshire, Brighton,
and North-Eastern (York) declined about ss. The
Foreign lines have been very dull, at about previ-
ous quotations. In the Colonial Market Grand
Trunk of Canada declined £l, and Great Western
of Canada improved y. East Indian and Great
Indian. Peninsula have been at about former
values.

Joint-Stock Bank Shares show a downward move.
tient in prices. Bank of Australasia declined 10s.
London and Westminster, ss. Ottoman Bank im
proved ss.

In the Miscellaneous Market Atlantic Telegraph
have been dealt in at 311 to 315. Peninsular and
Oriental Steam have improved to 86, and Royal
Mail Steam are 61.

„ BRITISH FUNDS—CLOSING PRICES.
3 per Cent. Consols Annuities
India Stock
Ditto Debentures
Ditto ditto, 2d Issue
Ditto Bonds, £l,OOO
ConsoLs for Account

Exchequer Bills, £l,OOO, 2d. &lid...
Ditto £5OO,

March June.
344 1 27 4

FOREIGN FUNDS—CLOSING PRICES.
Brazilian, 5 per Cent. —
Ditto 1858, 41 per Cent. 961
Buenos Ayres, 6 per Cent. 7B
Equador New Consolidated
Mexican 3 per Cent. • 21
Peruvian, 4% per Cent.
Ditto (Uribarren), 41 per Cent.
Ditto 3 per Cent.
Portuguese, 1853, 3 per Cent.
Bussian, 1822, £ St., 5 per Cent ll
Ditto 4% per Cent.
Spanish S per Cent. 46
Ditto New Deferred, 3 per Cent.
Ditto Passive
Spanish Corn Cert. of Coup. not funded 57;
Turkish, 6 per Cent.
Ditto Account .. 97
Ditto Scrip par 1 dig
Ditto Guaranteed,, 4 per Cent.
Venezuela, 5 per Cent.
Dividends on the above payable in London.

7

Dutch Exchange, 12 Guil. 21 per Cent '
Ditto Certificates, 4 per Cent.
THREE O'CLOCK
. 97f /
.97,

Consols, Money
Ditto Account

OTTOMAN RAILWAY COMPANY.—The first half-
yearly meeting of the Ottoman Railway Company took
race to-day, Sir M. Stephenson in the ehair. The report
briefly stated that the line and works, with rolling stock,
had been contracted for a total sum of £1,030,000. The
contractor had commenced the works in December last, and
was proceeding with energy. In the accounts it appeared
that £142,147 18s. Id. had been received, which, after the
expenditure, left a balance of £29,213 13s, 10d, The report
Vra4 adopted,