The Sun.
London, England, 1858-10-14 00:00:00

MONEY MARKET AND CITY NEWS.

CITY, Two O'CLOCK.
The distribution of the dividends has tended to
increase the general easiness of the money market,
and as it is imagined that the Bank directors
might resolve to reduce the minimum, the demand
for accommodation has temporarily slackened. The
consequence of this twofold influence has been a
decline in the terms, first-class bills having been
negotiated as low as 21 per cent. A difference of
per cent. is, of course, sufficient to divert almost
the whole of the discount business now transacted to
the general market ; and in order to find increased
employment for their money, it was not unrea-
sonable to suppose that the directors would adjust
their minimum to a point nearer to what
must be considered the current value of accommo-
dation. This question has been carefully debated
during the last few days, and much interest is felt
in its solution. Gold continues to flow into the
Bank vaults, and although subsequently there may
be an increased exportation to the continent, the
receipts from Australia, Russia, and America will
no doubt insure a continued accumulation of bul-
lion.
Remittances to the extent of £300,000 are
shortly expected from Russia, which will tend to
augment the general supplies.
On the 18th of inst. a further instalment of 25
per cent., repreSenting L 797,125, will become due
on the Indian Loan, but as a large proportion has
been paid in advance, it is not expected to have
any perceptible influence upon the money market.
The Scinde Railway Company paid yesterday the
sum of £108,300 to the credit of the Secretary of
State in Council for India, on account of the second
issue of capital.
Gold, to the amount of £20,000, was taken into
the Bank of England yesterday.
In the Liverpool Cotton Market yesterday a fair
business was done, and 8,000 bales were sold, at
steady rates. The Railway Share Market closed
quietly, at about former quotations.
The Bank of England directors have made no
alteration in the terms of discount, and the return which will appear in the Gazette of to-morrow is
therefore expected to present a less favourable
appearance than was generally anticipated. The
state of monetary affairs in Germany was, no doubt,
duly considered by the Court, as well as the in-
creased disposition now exhibited to promote
joint-stock enterprise.
The Market for English Securities during the
early part of the day exhibited a buoyant appear-
ance, and full rates were current. This indicated
confidence In a reduction of the Bank rate, for
When it became known that the Court had resolved
to make no alteration, an immediate decline of
about 4 per cent, took place. Many of the specu-
lators who bought in anticipation of a change, then
pressed sales, and the market now exhibits a heavy
tone, Consols being 981-2 for money, and 981 a for the
account. The Bank broker made a further small
investment, but this- failed to arrest the downward
tendency. Bank Stock is 220 to 221. The New
Three per Cents. are marked 97t- I ; the Reduced
Annuities, 97Z t. Long Annuities have been dealt
in at 181 1. Exchequer Bills (March), 355, to 38s;
June ditto, 275. to 30s. prem. India Stock is firm
at 222 to 224, and the Debentures 994 ; do. Scrip,
2d issue, 99Z ; and do. Bonds, 14s.
In the Foreign Stock Market more animation is
apparent, and prices exhibited some rather impor-
tant alterations. Turkish 6 per Cents. are 931
941 ex div. ; ditto Scrip, No. 1, 4 1 prem. ; ditto,
No. 2, 2 21 prem. ; Brazilian 42 per Cents. (1858),
; Buenos Ayres 6 per Cents., 78 ; Equador
Bonds, 151 ; Grenada New Active, 201 ; Mexican
3 per Cents., 201 1; Peruvian 3 per Cents., 707, ;
Portuguese 3 per Cents., 46± 4 ; Venezuela 5 per
Cents., 401 ; and Dutch 4 per Cents., 100
The Port Phillip and Colonial Gold Company
have this day received favourable advices from their
establishment in Australia, from which it appears
that 1536 tons of quartz had been crushed, and the
result shows a net profit on the month's working of
£1,552 15s. 6d., after expending over £3OO in
repairs, &e. A further remittance of £l,OOO has
arrived towards the dividend account.
The last week's railway receipts, ascertained up
to this day, are, in round figures, as under :-
Great Wester
estern n
NorthW
£31,670 £28,860
South-Western
South-Western
Brighton 17,050 15,524
Midland
South-Eastern
Great Northern
BLancashire and Yorkshire
Eristol and Exeter,
astern Counties
East Lancashire. .................. 6 243 6,501
Manchester, Sheffield, and Lincoln • 10'404 11,922
North-EasteiA ............. . 37'822 38,345
West Hartlepool. ................•3,635 3,566
Dublin and Wicklow,
Edinburgh and " 5'953 6,230
Scottish North-Eastern.
Grand Trunk of Canada
Great Western of Can.ada........." 9'834 11 057
Lombardo-Venetian ........ 10'827 8,840
"'N°rtilern. of France
The arrangements for the settlement are pro-
gressing very satisfactorily in the Railway Share
Market. A rather limited business, however, had
been done, and prices show a slight improvement.
North-Western and South-Western advanced ss. ;
Midland and North-Eastern (York), 10s. ; North
British, 15s. ; and Caledonian, Great Western,
North-Eastern (Berwick), and South-Eastern,
£l. Lancashire and Yorkshire have declined
about ss. The foreign lines are also at
121.ightly improved quotations. Lombardo-Vene-
!lan have improved ss. ; Northern of France,
; Paris and Lyons, ss. In the Colonial Market
ast Indian advanced 10s. ; Grand Trunk of Canada,
Great Western of Canada, and Great Indian Penin-
-Bnla were at previous rates,
hint Stock Bank and Miscellaneous Shares are
in limited request. London Chartered of Australia
have declined ss. ; Union of Australia, ss. ; and
Peninsular and Oriental Steam,

.... BRITISH FUNDS--CLOSING PRICES.
Bank Stock
220 1
Z., Per Cent. Reduced Annuities 97r
3 „per Cent. Consols Annuities
Neer
3 per Cent. Annuities
.4"1:1g Annuities, expire sth Jan., 1860 —
, Ditto 30 Years, expire sth April, 1885 lBk k 1-16
I,.,ndia Stock '
'At° Debenture,'
Ditto Scrip, 2d Issue
Ditto Bonds, £l,OOO
motto under £l,OOO
"Dsols for Account
March June.
I,,ixitethoeqsumeaurß, ills,
.Ll,OOO, 2d. &11(1.. .
3358 5 i
2370
lfd
FOREIGN FUNDS—CLOSING PRICES.
lil'azilian, 5 per Cent
kinenos Ayres, 6 per Cent
Ditto Account
74 antsh, 1825, 3 per Cent.
__Ditto 5 per Ca.
-Equador New Consolidated
I..%'eenada New Active, 2 1 per Cent.
, Ditto Account
reravian, 41 per Cent.
Ditto 3 per Cent.
._ Ditto Account
Russiinf 1822, £ St., 6 per Cent —
SDitto 4f per Cent
panish 3 per Cent., • 461 I
Turkish, 6 per Cent... . ...........
Ditto New Loan Scrip
A 9
Ditto Account . ..... . ..... .
Ditto Guaranteed, 4 per .... . 101
'Venezuela, 5 per Cent. ...
Dividends on the above payable in. London.
Dutch Exchange, 12 Guil. 21 per Cent —
Ditto Certificates, 4 per Cent.
THREE O'CLOCIi.
Consols, Money
81 I
Ditto Account, Nov. 10

On
Monday was solemnised at All Saints' church,
~,-nightsbridge, the marriage of the eldest daughter of the
•tarl and Countess of Orkny to Mr. Leo Schuster, eldest
son of Mr. Schuster.
The following regiments are ordered home from
India,
viz., 10th, 32d Light Infantry, 78th Highlanders,
and 14th.

„ Ris Excellency the Ambassador of France arid
'ne Duchess of Malakoff are expected at Albert-ge.te House
to-day, from Paris.
Ills Excellency the Portuguese Minister and the
lency has
`-'ollntess Lavradio return to town to-morrow. His Excel-
passed through Paris, where he assisted at the
baarriage of the Duke of Malakoff, and officiated as one of
the attesting witnesses.
His Excellency the Minister for the Netherlands
has left Brighton on a visit to Mr. ant Lady Catherine
ItigUtig at ?hues Berkshire.