The Sun.
London, England, 1858-09-13 00:00:00

MONEY MARKET AND CITY NEWS.

CITY, Two O'CLOCK.

The improvement- lately, noticed in the various
manufactming districts, with one or two exceptions,
has been well sustained. At Manchester the tone
of business continues firm, and an extensive demand
was experienced last week for home consumption
and for exporttaion. Cloths of all descriptions are at
higher values, and goods suitable for the India and
China markets are inquired for at improved quota-
tions. At Leeds the demand is steady, although the
regular course of business has been somewhat inter-
fered with by the festivities connected with the
Queen's visit. The general condition of the
woollen trade is prosperous, and there are excel-
lent prospects for the operatives throughout the
ensuing winter. The worsted trade at Bradford
continues tolerably active. Yarns are in good
demand and prices are firm. A fair amount of
business has been done in light fancy goods, and
some large transactions have also taken place in
heavy descriptions chiefly for home consumption. The
working classes of the district were well employed.
There was an active demand at Halifax for piece
goods, and carpets were at slightly improved rates.
At Leicester the hosiery trade continues active. In
the lace trade at Nottingham slightly improved
values are in request. The iron trade of South
Staffordshire has exhibited little change of im-
portance. A few South American orders had been
given out, and there is a prospect of
a speedy improvement. In the various
fancy trades of the district there has been little
alteration. The jewellery trade was exceedingly
dull ; but in tin-plate and lacquered ware there had
been a slight improvement. At Sheffield and Wol-
verhampton there are symptoms of gradual im-
provement, but the orders for exportation are very .
limited.

.In the Liverpool Cotton Market, on Saturday, a
moderate amount of business was transacted, and
values of all descriptions were supported. The
sales amounted to 10,000 bales. The Railway
Share Market closed firmly, at former quotations.
The amount of gold taken into the Bank on
Saturday was £40,000.

The only arrival of importance announced to-day
is the Arabia, from New York, with £57,936 in

specie.

The general prospects of the Money Market are
in favour of the continuance of easiness and abun-
dance for several months. Perhaps occasional va-
riations may take place both in the demand for and
value of accommodation, according as the engage-
ments, financial as well as mercantile, may be more
or less extensive ; but these fitful fluctuations do
not always give a reliable clue to the tendency of the
market ; nor must it be supposed, whenever there
is the slightest adverse movement, that a permanent
reaction has commenced. It is quite probable that
alterations of this nature will be experienced.
Already, within the last few weeks, symptoms of
increased activity have appeared ; but renewed
plethora, with a diminished inquiry, has immedi-
ately followed. It is not an exaggeration to say
that at least half-a-million sterling will have to be
Provided before the end of the year, for loans and
public companies, besides what may be required for
other and more ordinary purposes. But the sup-
plies still available are immense, and it will
also be observed, as a circumstance which must
have the effect of neutralising a partial return of
pressure, that might otherwise result from these
disbursements, that the imports of the precious
metals still continue exceedingly large, while the
efflux is likely to remain much under the average
of the last few years. A rapid uninterrupted
accumulation of specie seems to be insured by the
position of trade, the Foreign Exchanges and the
Wite of the Continental money markets ; even the
loans lately negotiated will, for the most
part, be expended in this country. Under
these circumstances, and with the knowledge that
the growth of trade must be very gradual, and that
reckless speculation is eschewed, confidence may be
felt in the maintenance of the present easy rates,
although a temporary rise of or a- per cent. may
'be pccasionally reported. '
. There was a meeting of the Brazilian Land and
Mining Company to-day, when it was stated that
the reports of Captain Trelowe were awaited as to
the real value of the property of the National Bra-
Fiitiftn Mining Association, which this company is
dvsiregs of purchasing after liquidating its liabili-
ties. Several encouraging statements were made
as to persevering in this object, and after a vote of
thanks to Mr. Shepherd, the chairman, the meeting
Adjourned.

The English Funds opened buoyantly, but busi-
Noss is still very dull, and the settlement in Foreign
fitqclis and Railway Shares occupies the chief at-
tention of the members. It requires a very little
pressure of stock to create a fractional decline, and
flze non-appearance at the usual hour of the Bank
J3roicer as a buyer was again made the pretext for
speculative sales. A decline of -1- per cent. conse-
quently ensued ; but the tone of the market is still
very strong, and there has since been a reaction.
Consols have been 97k for money, and 97/ a for
account. The New Threes have been specially
transferred at 97a, and the Reduced at 97-1. A
purchase of the New 21 per Cents. has been
egfected at 811. The March Exchequer Bills are
920, to 355. prem., and India Stock is 217.
pig gust India Debentures are well maintained
at their late improvement, the first issue being
981 I, and the second ditto 981.
The Foreign Market is active, owing to the half-
monthly liquidation. Most of the transactions are
connected with the settlement, but prices are firm.
Spanish Passive have risen to 12 a 4 ; the Certifi-
cates are firm at 51; the Threes are 461 4 ; and
the Deferred 29k 1, being also an improvement.
Sardinian 5 per Cents. have been:dealt in at 921 4 ;
Venezuela 5 per Cents. have recovered to 391; and
tprinian 41 per Cents. are 901.911 ; Grenada
Deferred, 61; and Brazilian 41 per Cents., 96.
Turkish 6 per Cents. are firm, at 951 96. The
Turkish Scrip is a a premium, being firm.
The transactions in the Railway Share Market
have been of a very limited character. The usual
arrangement for the liquidation of the half-monthly
account being now in progress, prices have shown
a downward tendency, but the variations have not
been important. Caledonian and Manchester,
Sheffield and Lincoln have declined ss. ; Edin-
burgh, Perth, and Dundee, North-Western, South=
Western, and North Eastern (Berwick), 10s.;
Eastern Counties, North British, and North-Eastern
(York), improved ss. The Foreign and Colonial
undertakings shew very little activity, and prices
• are steady. Paris and Lyons have improved ss. ;
Grand Trunk of Canada, 10s. ; Lombardo-Venetian
'declined 55., and East Indian ss.
Joint-Stock Bank Shares are at rather reduced
quotations. Bank of Egypt have declined 55.;
London Joint-Stock, ss. ; Ottoman Bank advanced
ss. In the Miscellaneous Share Market prices are
unaltered. .

BRITISH FUNDS--CLOSING PRICES.
3 per Cent. Reduced Annuities Shut 97k
3per Cent. Consols Annuities
New 3 per Cent. Annuities
New 2/ per Cent. Annuities
Long Annuities, expire sth Jan., 1860 Shut
India Stock

Ditto Debentures, Ist issue.
Ditto Scrip, 2nd issue 9B
Consols for Account
March June.
Exchequer Bills, £l,OOO, 21d. 35 1
Ditto £5OO,
Ditto Small, lid 32 5 f
Ditto Bonds, 1.858, 31 per Cent.
Ditto, 1859 lOOl
FOREIGN FUNDS—CLOSING PRICES.
Brazilian, 5 per Cent.
Ditto 1848, 4/- per Cent. 96 I-
Buenos Ayres, 6 per Cent
Ditto Deferred
Grenada New Active, 2} per Cent.
Ditto Deferred
Peruvian, 4f per Cent.
Ditto Account
Ditto (Uribarren), 4f per Cent.
Ditto Account
Portuguese, 1853, 3 per Cent.-
Ditto Account
Sardinian 5 per Cent. gi t i
Spanish 3 per Cent 46
.i.
Ditto New Deferred, 3 per Cent 29 i f
~. Ditto Passive
Spanish Corn. Cert. of Coup. not funded s} 1
Turkish, 6 per Cent.
Venezuela, s.per Cent.
Ditto Account
Dividends on the above payable in London.
Dutch Exchange, 12 Guil. 21 per Cent 66
ZDit to Certificates, 4 per Cent.
THREE O'CLOCK.
Consols, Money
Ditto Account 97