The Sun.
London, England, 1858-07-19 00:00:00

COMMERCIAL INTELLIGENCE.

CITY, Two o'Ceocie.
The intelligence from the various manufacturing
districts this morning represents that during the
past week business has not been quite so buoyant ;
mast of the menufacturers, however, were fully
employed on orders not yet completed. At Man-
chester, in the absence of any operations of impor-
tance, the demand for goods suitable for the Indian
markets was dull, and the tendency of prices was
in favour of buyers. Tarns, however, continue in
fair demand, and the orders on hand are large
enough to prevent any diminution in values ; in-
deed, the late nominal reduction in price has been
fully recovered. The woollen cloth trade at Leeds
has been moderatively active. Increased employ-
ment has been given to the operatives, and a
full average amount of business has been done
at full prices for the batter qualities of cloth
suitable for the autumn. For the United
States there has been a rather active demand,
and prices generally rule exceedingly steady.
Business at Bradford has been less active, as manu-
facturers generally are fully engaged completing
orders that have been some time on hand. In the
worsted trade a little more machinery has been
employed, and the working classes generally are
getting more employment. The carpet trade at
ilalifax is moderately brisk, and most of the mills in
the neighbourhood were running full time. At
Leicester the hosiery trade has slowly improved,
and the demand for the autumn it is expected will
be very brisk.
Accounts fcom Liverpool report that the Cotton
tarket on Saturday closely firmly, and prices of
all descriptions were fully maintained. The sales
were estimated at 8,000 bales, 1,000 of which were
taken by the speculators. The Railway Share
Market presented a rather active appearance, and
the values of all the leading lines were a shade
higher.
Too much impor lance seeuis to be attached, par-
t:etaleily among the speculators at the Steck Ex-
ehange, to the movements of the bullion in the
Bank of England. It is only natural, in the ordi-
nary course of busiuess, local and continental, that
there should be a good deal of fluctuation
in the supplies held there. This remark is appli-
sable at all periods ; but if at one time more
than another, it is when the stock of precious
metals has accumulated to such an excessive amount
as that reported in the recent balance-sheets. In
New York, Paris, and in this city, the Banks
are gorged with specie, because of the stag-
nation of trade, and the sudden stand to
_which It was brought a few months ago.
The rapid augmentation which has taken
Place since that momentous crisis, has from
time to time been pointed to by the ignorant
46 a subject for congratulation, although, in
fact, it has been the result of commercial ad-
versity. The reaction in the money market
ping caused by the same calamity, there
just as much reason to feel satisfaction
at a rate of discount of 21 per cent. as an increase
in the
.bullion to a total of nearly 20,000,0001.
Those who thus close their eyes to the facts
of the case, their origin and effect, and
consider that a favourable feeling should
exist in consequence of this plethora, have
also been fooli-h enough to manifest uneasi-
IleSB at the late impetus which the demand for ac-
°Oran:iodation received, and are now desponding on
account of the efflux of gold, to the extent of about
a million and a quarter sterling. Provided specu-
lation continued inactive, and no pressure w ere'pre-
ducedbyan absorption for extraneous purposes, a rise
lO the terms of discount, and a diminution of bullion
here, and in the other great centres of commerce,
would, in reality, be the most encouraging move-
ment that could occur, because it would
be indicative of a revival of business, and
a step towards a return of national prosperity.
About 210,0001. in Australian gold by the Royal
Charter was sent into the Bank on Saturday. The
Teviot has arrived with 140,2861. ; the Colombo
at 3.,
fOr the East to-day will take out 54,4401.
At the special meeting of the Waterford and
ilkenny Railway Company to-day, a resolution
Was passed for issuing 149,0001. debentures at 6
Per cent. interest for five years, and at 5 per cent.
afterwards. The object of the money was not for
the purpose of works on the line, but to liquidate
the Government loan of 102,0001. and for the pay-
bent of the other debts of the company.
'llls day the adjourned meeting of the Bombay,
13erode, and Central India Railway Company took
Place at the London Tavern, when the election of
directors was
proceeded with, and Mr. Wilde and
lar• Raymen were declared successful by a slight
Ilatijority on the show of hands. A ballot was de-
Mended by Colonel Holland and Mr. Key, the un-
successful candidates, which the chairman, Colonel
kreneb, agreed to, and the result is to be reported
la Wednesday neat.
When the English Stock Market opened this
morning it appeared buoyant, and prices farther
11„d""ed, owing to continued purchases, but a
Pause in these operations, succeeded by a little
arteculative selling, has since caused a frac-
tional reaction. The tone of the market, how-
etrerl must be considered good ; there is a better
feeling, transactions are more freely concluded,
and confidence is expressed in the course of poli-
tical affeirs. Consols have been 951 for money,
and 954 for account. The latter were at one
time 95/ buyers, but they are now at former quo.
tenons. The New Three per Cents are 96i ; and
the Reduced, 961 s India Debentures are 991 ;
and March Exchequer Bills 375. prem. Bank
Stock is 222 to 224.
in the Foreign Stock Market the transactions
have been limited, but quotations are firm. Turki-h
O per Cents. are 951 ; Spanish Passive are sup-
Ported at 88, Sardinian are 90, and Russian 5 per
Cents. 1121. Brazilian Scrip has risen to dis-
count and par ; Peruvian Dollar Bonds are 72l
transactions in the Railway Share Market
D-day have been of a very moderate character,
and prices have fluctuated to the extent of about
!_to per cent., various reports being current with
gard to the forthcoming dividends, on renewal of
the leases. Caledonians, North- Western, and
North British, declined 10s. ; and Great Northern,
40s. to 15s.
srtolid ;
Midland and North-E tstern (York)
Eestern Counties, Great Western,
improved
Eastern (Berwick), and South-Easters, 10s.
The Foreign and Colonial lines have been dealt
, ▪
tO some extent, but prices hive exhibited lit• le
variation.
Joint-stook Bank and Miscellaneous Shares
are quiet, at previous rates.

BRITISH FUNDS THIS DAY AT ONE O'Cl OCK.
(Prom the Official List;)
lllluk Stock
Three per Cent. Reduced Annuities ...
New.-. • la‘. uunsms Annui tie,
~ Three per Cent. Annuities
I.•(,ug Annuities, expire sth Jan, 1860 -
, Ditto 30 Years, expire sth Apl , 1885 Hi
1•44.1ia Stock
bat() Bonds, £lOOO ... .... ..........
, ____
, bi t • un•hir t Won ....
`4413. ... 9
Loau Debentures 0.1 9
eonsols for Account
4chequerßills - March. June.
£1000
Swat
1110E8 OF FOREIGN FUNDS AT ONE O'CLOCK
hi'azilian 5 per Cent
-Ditto 1852, 4i per Cent.
Ditto 1858, 4. per Cont.
_ Ditto Scrip, 1858 •
t.118,8i.a1!, 1822, k St , 5 per Cent ~. ...... .. 1124
90
.udiiau 5 per Cent.
SD rtth Ro,,,is, 3 per (Mut. - -
.
DIU, PaR ' Ivo
Tull, • '
131) Bonds, 6 per Cent. --
Ditto, Account
Dividends on the aboNe payable in Loudon.
liruTlau Dollar Bond., i 4 per Cent. 723 i
TWO O'CLO( K.
Console money 45; Ditto account 1
lis2i

TR LONDON TAVERN AND ITS ESIPLONTS iday
. .“,..t
144 notwithstandingl the f • ble state of the
Weathfr,
the 11 ",11., tee principal employesin that
hrg, 4411 ,Aell.known establishment, the London Tavern,
arid several friends, proceeded to the &relent aLd pictur-
esque village of Chigwell, fhr the enjoyment of a day'M
relaxation and social pleasure. The principal 4, Messrs.
Chater and Co., roost generously gave their hearty
election to this friendly gathering, and liberally con-
tributed to the object, highly approving of its design.