The Sun.
London, England, 1858-02-11 00:00:00

MONEY MARKET

AOD

..';OIYIMERCTAL INT'ELLIGENCB,

CITY, Two O'CLOCK.

Letters from Liverpool mention that the Cotton
Market yesterday closed with an improving ten-
dency, and prices cf all descriptions were fully -id.
per lb. higher. The sales were estimated at from
10,000 to 12,000 bales, 3,000 of which were taken
by the speculators. The Railway Share Market
presented a very quiet appearance, and quotations
were without any an Aerial change.
Occasional failures are still reported, and if the
news of the late crisis, when it arrives out, causes
a panic in Melbourne, some further embarrassments
May be occasioned here. The recent advices were
far from /satisfactory, inasmuch as they showed a
tendency towards a panic, although at that period
the revulsion in this country had not been made
,kll()Pin. It is stated that Messrs. Clapperton,
„,
incllay, and Co., of Glasgow, are in difficulties,
and their liabilities are presumed to be oensider-
able. They had an establishment at Melbourne,
and the late accounts have induced them to seek
the indulgence of their creditors.
About 5,000/. in gold was sent into the Bank
yesterday, and as the daily influx, since the date of
the last return, has amounted to upwards of half a
the balance-sheet, which will appear in the
Gazette to-morrow, is expected to shows further
im-
Portant augmentation in the bullion. The reserve of
notes is also likely to exhibit a large increase, and the
Payments made on the 4th of the month have no
doubt caused a further diminution of the other
Securities. Some uneasiness is expressed regard-
ing several small amounts of gold which have been
remitted to France, but they are merely for the
Payment of silver, and the Bank of France return,
to be published to-morrow, will, it is imagined, pre-
sent satisfactory features, including an accumulation
of bullion which has been secured without pur-
chases of the precious metals abroad. Judging
from the tone of recent advices, there is very
little probability of an inameliate resumption of
the drain from this side on account of that estab-
lishment.

This day a meeting of the Ill;nois Central Ita;1-
road Company was held, at which Mr. Fisher was
elected auditor, and several resolutions were passed
in respect t. the management of the company's
affairs.

It was agreed at the me3tiug of the Fort Bowen
New Company, held to day, to authorise the direc-
tors to wind up the company, as the report of the
surveyor stated that the move was not worth fur-
ther expenditure.

ALTERATION OF THE BANK RATE

OF DISCOUNT.

Another reduction of per cent. has been made
in the otficill rate of discount. It was generally
Presumed that this measure would be adopted,
and when it was announced that the minimum
bad been fixed at 3 per cent. no surprise was
therefore created, and the funds underwent
little change. The Money Market, in its present
plethoric state is not governed by the official quo-
tation, and even now the current terms in Lom-
bard-street vary from 21 to 2i per cent. It is highly
probably that a further relaxation will speedily fol-
-1") owing to the immense accumulation of notes
and gold now experienced. The inquiry is still
71.°rY quiet fur commercial purposes, and specula-
tion being almost inactive, there is only a limited
employment for capital.
The Funds have been firmer, but there is an
absence of speculative activity, and the al!eration
In the terms of discount has not exercised the
slightest influence. Business was seldom quieter,
but the settlement in Shares and Foreign Stocks,
11° doubt, tends to divert attention. Consols for
transfer have been 96 to 961 and 961 # ; fur ac-
count, 961 1. The New Three per Cents. are 96±
the Reduced, 961 ; and Exchequer Bills, 31s.
t° 33a. prem. Bank Stock is 2251 to 227.
In *the Foreign Stock Market a very limited
business has been transaoted, and prices exhibit an
Upward tendency. Turkish 6 per Cents. ar© 99,t
1001 ; and ditto 4 per Cents., 1031 104 i; Brazilian
5 per Cents, have advanced to 1031 104 ; Buenos
Ayres 6 per Cents. to 100 ; Peruvian 41 per Cents.
to 80i ; Portuguese 3 per Cents. to 451 ; 11113-
Sian 41 per Cents. 100 f ; Spanish Deferred are
26} ; and Dutch 2i per Cents. 651.
Tt.e following are the nomintl prices of Foreign
Stocks :—Grenada D. ferred Bonds, 51 6; Mexican,
2O 20& ; Peruvian 4i per Cents., 80 81 ; ditto 3
Per cents., 55 36 ; Portuguese 3 per Cents., 45
46 ; Russian 5 per Cents., 111. 113 ; ditto 41 per
Cents., 99 101 ; Sp finish 3 per Cents., 431 44 ;
Ditto Now Deferred, 26 26k.
The last week's railway receipts, ascertained up
to this' day, are in round figures as under :

1858. 1857.
Great Western £24,930 £24,348
North-Western
XenthMeetern
Itrighton 10,207 10,561
Midland
South-Eastern - 14,400 13,570
Great Northern
te'netothire and Yorkshire 19,924 21,303
Bristol and Exeter 5,228 5,138
dhaiter and Holyhead
East Lancashire 5,29 i 5,722
Lancaster and Carlisle
Manchester, Sheffield, & Lincoln 9,053 8,863
North Stafford
North London
North-Eastern
Oxford, Worcester, and Wolverb... 3,703 3,708
West Hartlepool 2,851 2,875
Belfast and Ballymena ........... 1,057 1.113
Edinburgh and Glasgow
Glasgow and Sou h-Western
So 'Web North-Eastern. ........ .
Grand Trunk of Canada
Great Western of Canada
Business in the Railway Share Market to-day
has been inactive, and the few dealings entered
into have, in most instances, had ref,rence to the
settlement of the ateJotin', the arrangements La
which are now in progress. In some of the chef
linos a alight advance may be quoted. Great
Westerns and Midlands improved ss. ; Eastern
Countie", Lancashire and Yorkshire, North-
we..tern, and South-Western, 10s. ; Caledonian, 1/.
South Easterna cleaned 5s , Brightens 10s., North
British, 1/. The Foreign and C.ilouial lines are
inactive, and there is little variation to report in
prices. Notthern of France, Eastern of France,
and Great Luxembourg, brought former rates ;
Grand Trunk of Canada ruled at steady rates, and
Great Western of Canada improved ss.
Joint Stock Bank and Miscellaneous shares are
flat ; London and Westminster declined 10s. ;
Oriental Bank, sg. ; Peninsular and Oriental
Steam, ss. ; and Eastern Steam improved about 58.

BR crisn FUNDS.—CLOSING PRICES—THIS DAY,
(From the Official Ligti)

Bank Stook
per Lent. Reduced Annuities 227 5
3 per Cent. Oonsola Annuities,~,~
5 per Cent. Annuities.
Ludg Annuities, expire sth Jan. 1860 -16
Ditto 3u Yeare, expire sth April, 1 885 lBi
Ctsols ‘ceoni-t ....
....
961
Es W.

81000 • -,- 33 31 p
goo 32 33 31 I p
bitto Small

PRICES
OF FOREIGN FITNDS—THIS DAY.
lirar..mn 6 per Cent. .• IP lO3 4
tDitto 1852, 4i per Ceut
100 ieuos A yresßond •
s, 6 per Cellt •
...exican 4 per Cent
r. .
Ditto account (February 20). .....
Pecuvian Bonds
801 4 per Coat
Ditto Account
Date 3 per Cent •
55a6
Ditto Account
Ponnguese Bonds, 6 per Cent., Con. 1841
45 1
_ _ Ditto 1853, 3 per Cent 4
IlussianSt., Bonds, 1522, L 5 per Cent ---
10
Ditto, 4i per Cent.
Stn % ttokds, :4 per , ant.
Ditto New Deferred, 3 per cent,
Taritiela ,sends, fs per cent ..
illuittc, Account . . ...... 100
'Onto Guarauteo;d ........ .C.eni. ........ Dutch E 1014 3/I 4i 4
.....
ondon.
xchange.% per Cen.`... 12 Guilders 65
Do. 4 per Cent. Certificates
O'CLOCK.
2 13
..." C°I11016) money ..... fizt- 3
26i i
...
(3246911 A. 9191141... (Muth i) asp