The Sun.
London, England, 1858-10-07 00:00:00

HONEY MARKET AND CITY NEWS.

CITY, Two o'CLocK.

The Bank of England return, which will appear
next Friday, is expected to show rt. further impor-
tant accumulation of bullion, the influx during the
last few days having been conducted on an exten-
sive scale. It is estimated that the total will not
be far short of £19,750,000, a further quantity
of L 140,000 having been sent in yesterday. With
such a continued augmentation it is not at all sur-
prising that the question of a reduced minimum
should be one of the most prominent now discussed
amongst those who are interested in the progress
of monetary affairs. The probability of an altera-
tion to 21 per cent., however, it; not solely based
upon this remarkable collection of metallic wealth,
the diminished circulation of notes, and the differ-
ence existing between the minimum and the terms
current in the general market, being also considera-
tions which are likely to influence the Bank
directors in offering to the public increased
discount facilities The general inquiry for
money continues very limited, and the au-
thorities are not called upon for advances
on stock, in conformity with the measure they
passed just before the transfer books were closed.
This accommodation being obtainable in the 'stock
market at about 11 or 2 per cent., it was not likely
that the directors would receive many applications
while their charges remained at 3 per cent. In
the course of a few days the October dividends
will be paid, which will, of course, tend to increase
the existing ease aud abundance.
Accounts from Liverpool report that the Cotton
Market yesterday presented a quiet appearance,
and 7,000 bales were disposed of, at about former
values. The Railway Share Market closed flatly,
and prices tended downwards.
There was a meeting of the Great Western of
Canada Railway Company to-day. The report
stated that the surplus revenue available for divi-
dend was 299,540 doll., which would allow of a
dividend at the rate of 4 per cent. per annum. The
report is now under discussion.

The Bank Directors have adjourned without an-
nouncing any alteration in their discount regula-
tions, but this delay has not diminished the confi-
dence felt in an early reduction to 21 per cent.
Many persons expected that the change would be
postponed until after the October dividends were
paid, and this view is now proved to have been
correct, although it is still imagined that the posi-
tion of the Bank's resources would justify an im-
mediate relaxation.

There is a steady demand for discount accom-
modation to-day, chiefly on commerical account.
It is stated that a very :limited amount has been
borrowed in anticipation of the dividends due on
the 13th, and that the effect of their payment will
be more perceptible than usual in increasing the
easiness of the market.

A very small amount of business is now being
transacted in the English Stock Market except in
connexion with the settlement. Many of the ac-
counts still outstanding will have to be closed,
whch are likely to prolong the existing dulness and
depression, and negative the influence of the
favourable position of monetary affairs, includ-
ing the accumulation of bullion. Consols have
been 988 I, and 981 t for 'money, and the 12th
instant, for. the November account they are 988,
and the market is now rather firmer. Notwith-
standing the maintenance of the minimum at 3 per
cent., Indian Loan Debentures are 992. The
March Exchequer Bills are 345. prem. ; the June
issue, 28s. prem. ; and ditto Bonds, 1001 being
steady.

A decidad improvement has lately taken place in
Spanish Securities, and an increased business has
been transacted in the Stock Exchange here, as
Well as on the Paris Bourse and at Madrid. In-
fluential capitalists have been conspicuous among
the buyers, and their operations have caused an
important advance, especially in the Deferred and
Passive Bonds. With regard to the latter
the movement is ascribed chiefly to the
rapidity with which they are being ab-
sorbed and cancelled by the Spanish Govern-
ment both at the periodical auctions and by
private operations in the open market. But the
cause of the rise in Spanish securities generally is
the improving tendency of financial and commercial
affairs in the Peninsula. The construction of rail-
Ways and other public works will be attended by
incalculable benefits, which, by promoting the pro-
sperity. of the country, must also increase the popu-
larity of the State securities.

In the Foreign Stock Market business is rather
more active, and quotations have slightly advanced.
Turkish 6 per Cents, are 961 ; ditto Scrip, par to
1 prem. ; Brazilian 5 per Cents., 102 1 ; Equador
New Consolidated, 15 ; Mexican 3 per Cents., 201 ;
Portuguese 3 per Cents., 471 ; Russian 5 per
Cents., 1111 ; ditto 41 per Cents., 1001 101;
Spanish 3 per Cents., 461 47 ; ditto Deferred, 304 d ;
ditto Certificates, 6 ; and Dutch 4 per Cents., 100.
The last week's railway receipts, ascertained up
to this day, are, in round figures, as under :

1858. 1857.
Great Western £33,101 L 31,870
North-Western
South-Western
16,852
Erig,hton
Midland
South-Eastern
Great Northern
Lancashire and Yorkshire
Bristol and Exeter
East Lancashire 6,794 6,739
Manchester, Sheffield, and Lincoln
North-Eastern
North Stafford
West Hartlepool 3,654 3,526
Dublin and Wicklow 2,52 2,396
Edinburgh and Glasgow 6,121 6,258
Scottish North-Eastern 3,627 3,350
Grand Trunk of Canada
Great Western of Canada
Northern of France
Tlie. Railway Share Market has exhibited rather
more animation, and most of the principal under-
takings are at improved rates-the traffic returns
being, in most instances, favourable. Great West-
ern and South-Western improved 5s ; Bristol and
Exeter, Caledonian, Lancashire and Yorkshire,
Midland, North British, and. North-Eastern (Ber-
wick), 10s. ; and Great Northern, 15s. Eastern
Counties, Brighton, and North-Eastern (York),
have declined ss. The Foreign lines are flat. Paris
and Lyons haVe declined ss. In the Colonial
market prices are rather buoyant. East Indian
have improved 58. ; Grand Trunk of Canada, 10s. ;
and Great Western of Canada, ss.
Joint Stock Bank and Miscellaneous Shares
are at about yesterday's closing quotations.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
3 por Cent. Consols Annuities
India Stock
Ditto Debentures 99f
Consols for Account
Exchequer Bills, £l,OOO, 2d. &lid.— I 28
Ditto £5OO, 34 I
Ditto Bonds, 1858, 31 per Cent
Ditto, 1869' lOOl A
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK
Brazilian, 5 per Cent. lO2 f
Ditto 1862, 4/ per Cent. 99/
Equador New Consolidated
Mexican 3 per Cent
Ditto Account . ....
Portuguese, 1853, 3 per Cent ........ ..
4-1 i • 1
Russian, 1822, £ St., 6 per Cent. ........ 1111
Ditto. 41 per Cent.
•.................. 101 100/
Spanish 3 per Cent ................ . ... 47
Ditto Account
Ditto New Deferred, 3 per Cent.
Ditto Account
Spanish Corn. Cert. of Coup. not funded.. 6
Turkish, 6 per Cent.
Ditto Account
Ditto New Loan Scrip I it P
Dividends on the above payable in London.
Dutch Exchange, 12 Guil. 2/ per Cent —
Ditto Certificates, 4 per Cent.
TWO O'CLOCK.

- I
Consols Money 9B'
Ditto Account, November

WITCHCRAFT IN ESSEX.—A correspondent thus
writes to the Essex Standard :—" I find that it is very
widely circulated, not only in East Thorpe, but in Yelveden
and other neighbouring parishes, among the lower orders,
that the rector of East Thorpe secretly believes in witch-
craft, which they say is proved by the fact that he caused
11 clergymen to meet at his house (himself being the 12th)
1& week for the purpose of unbewitching the young woman
`lll,O has caused so much stir in the parish, it being a
well-known truth (as they say) that 12 clergymen have the
Power to unbewitch a person 1' Perhaps, for the benefit of
these ignorant people, the rector will publish the true
reasons for these 12 clergymen meeting at the rectory on
the day in question ; for designing people are making use
Of the fact to prop up superstitdon."