The Sun.
London, England, 1858-01-11 00:00:00

MONEY MARKET

dITD

COMMERCIAL INTELLIGENCE.

'CITY, Two O'CLOCK.
The advices received this morning from the
manufacturing districts are rather more satisfactory.
A t Manchester the easier state of the Money Market
had caused a gradual return of confidence ; the im-
provement however is slow, buycr3 having mani-
fested great caution in their operations, and the
slight advance in the value of the raw material pre-
vented any large speculative transactions being
entered into. For long cloths, T cloths, and print-
ings there was a better inquiry, but holders demand
fully former terms. Business at Birmingham has
been languid, and in many establishments the men
are only working three days a week. The fancy
trades are particularly dull. The iron trade of
South Staffordshire remains remarkably quiet, and
few orders have been received either for home
or foreign consumption. Both buyers and sel-
lers are waiting the result of the quarterly
meeting of the ironmasters at Wolverhampton on
Wednesday next. At Nottingham there have been
a few buyers in the market from the Continent,
and on the whole a fair business has been tran-
sacted, symptoms of improvement being visible in
most departments. The hosiery trade, however,
is depressed, there being few orders from the
United States. The manufacturers, lic•wever, are
in good spirits, as it is generally expected that be-
fore long there will be a good and healthy demand.
In Leeds the markets for both wools and piece-
goods have exhibited a decided improvement. All
classes are acting with more spirit, and trading con-
fidence has in a great measure been restored. A

moderate quantity of goods have found purchasers
at barely late prices. Trade at Halifax has exhi-
bited an improved aspect. The carpet manufac-
turers are better employed, and most of the mills
are now working full time. There was a fair
amount of heavy goods sold during the week, and
in several instances improved prices were realised.
At Bradford a moderate business has been done in
both wools and piece-goods, and on the finer qua-
lities of combing wools an advance of lAd. per lb.
has been established. In piece-goods there is a
fair business doing, and the stocks generally in the
bands of the manufacturers are very low. The
hosiery trade at Leicester continues depressed.
Worsted yarns are lower, but the transactions en-
tered into are limited. An expectation, however,
prevails that, as the spring advances, business will
be very brisk.

r The Liverpool Cotton Market on Saturday
closed flatly, and prices of most descriptions de-
clined. The sales were estimated at 4,000 bales,
1,000 of which were taken on speculation and for
export. The Railway Share Market exhibited a
very active appearance, and quotations improved.
Last week the receipts of specie were 647,3181.
and the exports 35,7441.

On Saturday about 20,000/. in gold was sent into
the Bank of England.

According to a statement just issued, it appears
that last year the experts of gold and silver direct
from London amounted to 28,477,5901. against
17,806,9401. in the previous year. Besides this
8,654,5001. was sent to France, by way of Folke-
stone and Dover, and 2,133,5801. and 1,398,8201.
was dispatched from Mediterranean ports to India
and China.

The demand for money during the last two or
three days has been quiet, and owing to the general
impression that the Bank directors will speedily
reduce the minimum to 5 per cent., the public limit
their applications as much as possible. While the
official rate is maintained at 6 the bill brokers will
manage to mailioin their terms at 51 or 51, but as
soon as 5 per cent. is established as the mini-
mum, a fraal.6n below that point will be sub-
mitted to out of doors. As this change may be
merely the question of a week or two, parties en-
gaged in business only obtain what they require at
once, and hence the market presents a quiet ap-
pearance, with a tendency towards increased ease.
The general allowance for deposits is now 4 and 4i
per cent., so that if discount business can for the
moment be obtained at an average of 5i per cent.,
there is a fair margin of profit, but there is reason
to believe that both the bankers and the discount-
houses have an excessive supply, which mutt be
partially unproductive.

There is a very inactive market for public securi-
ties but this can excite no surprise after such an
important settlement. The quotations are rather
heavy and a decline of about per cent, has en-
sued, but upon the whole, the market exhibits
great strength and no material reaction is
anticipated in the face of increased ease in
monetary affairs, and the continued influx of gold
into the Bank vaults. Consols have been 94:,1 95
for money, and 95 to 951 for account. The New
Three per Cents. are 95 to 951, and the Reduced
944 95. Bank Stock is 220 to 222. Exchequer
Bills are 13s. to 15s. prem., and the Bonds 994.
Foreign Stocks are also very dull, and at rather
lower quotations. Turkish 6 per Cents, are marked
98f to 99, and the 4 per Cents. 104 to 1044.
Russian 5 per Cents, are 110 ; ditto Small 100 ;
Sardinian 88 ; Spanish New Deferred 261 ; and
the Passive 5E71 ; Dutch 4 per Cents, are 65.
The following are the nominal prices of Foreign
Stocks •—Grenada Deferred Bonds, 54 6; Mexican,
204 4 ; Peruvian it& per Cents., 79 80 ; Ditto 3 per
Cents., 54 56 ; Portuguese 3 per Cents., 434 444;
Russian 5 per Cents., 108 110 ; Ditto, 4i per
Cents., 98 100 ; Spanish 3 per Cents., 411 f ;
Ditto New Deferred, 25i 264 ; Ditto Certificates,
—; Ditto Passive, —.
Business in the Railway Share Market this
morning has been active, and quotations have
exhibited a buoyant appearance. Several of the
leading lines showing an improvement of about
to 4 per cent. Great Northern and South-Eastern
improved ss. ; Caledonian, and Lancaster and Car-
lisle, 10s. to 15s ; and Great Western and Eastern
Counties,l/. ; South-Western, Brighton, Lancashire
and Yorkshire, and Edinburgh and Glasgow declined
ss. to 10s. In the Foreign and Colonial under-
takings prices have been steady. Eastern of France,
Southern of France, and Lombardo Venetian,
realised former quotations. Grand Trunk of Canada
improved 10s., and East Indian declined ss.
Mines, Banks, and Miscellaneous Shares are
inactive. Ottoman Bank have improved ss. ;
Union of Australia, 10s. ; and Peninsular and
Oriental Steam, ss. to 103.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Officsal _

%minces done.
Kink Stock
8 per uciat. tteduced Annuities 222 2095 41
3 per Cent. Console Annuities 94i 5
New 3 per Cent. Annuities
--
Ditto, under ICilo 1 p
Cot solster A.ccount, Feb 4 ......
... 954
ZOOO 5
Ex.theque7 Bills, Ge_d. .......
121C0
14 15 13 p
Small ..... 12 15 p
.., .
15 p
Exchequer Bonds, 18,58, 3i per Cent_ 94
PR ,CES OF FOREIGN FUNDS AT ONE O'CLOCK.
Portuguese Bonds, 5 per Cent., Con. 1841 --
Ditto 18b3, 3 per Cent 4li
Russian Bonds, 1622, k, St., 5 per Cent llO
Ditto Small
Sardinian Bonds, 5
o. 100
B per Cent.
Ditto Accoun‘
88
- u-sh Roads 3 per Cent.
bitto—
*Jew ""ue.ferred, 3 per Cent.
Ditt. Passive
Turkish Bonds ; . i.,;;;*.c.e.ii-t. -1
Ditto AA:count ..
Ditto Guaranteed,-4. . Pe.; .... .......
Ditto Account

.........
.........
Dividend.
on 1041 4
Payable in
Dutch Exchange, 21 per ce tb've ..
London.
en.., 12 Guilders 65
Console, money ....... . TWO O'CLOC K.
Consols for account ... ...... 94 } 5
............ 95i

UNION BANK Or AuSTRALIA,

MEETING THIS DAy_
The half-yearly meeting of the Union tank of Australia
has been held to-day, at which a favourable report wai
presented. The net profit for the half-year Was 88,3381,
58. 11d., and a dividend cf 10 per cent. for the half-year
was proposed. In consequence of the requirements of
the numerous branches, and the extension cf the business
in the colonies, it was agreed by the directors to call up
the remainder of the third series of capital of 221. 10s.
per share at jute rvals. The state of the colony way
improving, and thr.ee new branches had been established
at the gold fields, making altogethet 20 branches in
Australia and New Zealand. The accounts stated the
total amount of assets at 5,424,9531. Bs. 10d., of
whioh 200,000/, was the reserve fund. After some
discussion the report was adopted, and the resolution
lot the additional capital agreed to.

10
20
5
20

60
100
100

18
20
100
100