The Sun.
London, England, 1858-11-04 00:00:00

MONEY MARKET AND CITY NEWS.

CITY, Two o'CLocx.

The traffic on most of the principal railways of
the country continues to improve, and the share
market is firmer in consequence. At this time last
year, with which the comparison is made, however,
the American panic had already checked the manu-
facture of goods for the United States markets, and
the pressure being felt throughout the United King-
dom, the earnings of the various railway companies
were seriously diminished. Henceforward the
weekly returns will no doubt exhibit a progressive
amelioration, if the advises from India, China, Aus-
tralia, 'and America now report an increased de.
mand for English merchandise ; and the recovery
on all branches of business is not likely to be
retarded by any new political or financial compli-
cations.

The last week's railway receipts, ascertained up
to this day, are in round figures as under :

18.58.
Great Western
North-Western
South-Western
Brighton
Midland
South-Eastern
Great Western
Lancashire and Yorkshire
Bristol and Exeter 6,474
Chester and Holyhead
East Lancashire 6,186
Lancaster and Carlisle
Manchester, Sheffield, and Lincoln
North-Eastern
Oxford, Worcester, and Wolverhampton 4,598
West Hartlepool 3,055
Edinburgh Perth and Dundee
Edinburgh and Glasgow
Scottish North-Eastern

The Liverpool Cotton Market yesterday closed
heavily, and prices continued to decline. The sales
amounted to 8,000 bales. On the Stock Exchange
only a very limited business was transacted in
Railway Shares, and quotations were without any
alteration.

At the Public Sales of Foreign and Colonial
wool, to commence this evening, it is expected that
about 45,000 bales will be offered. The series will
be opened by Messrs. Southey and Sons, who will
offer 2,465 bales, including 1,006 bales of Cape
wool,

The effect produced upon the mone y market by
the arrangements for the 4th of the month has not
been very important, bat the rates continue to
exhibit increased firmness, although they still
range from a z to I per cent. under the Bank mini•
mum. It appears that a large amount of paper
will have to be liquidated to-morrow, but the plen-
tiful supply of money at the command of bankers
and brokers will prevent any temporary absorp-
tion that may be required for that purpose, from
stimulating any material advance in the charge for
accommodation. During the month, however, a
considerable sum has to be paid in connection with
loans. and railways, which, together with the in-
creasing demand on commercial account, usual
towards the erid •of the year, may ultimately lead
to enhanced rates.

Pending the continued absence of vessels from
Australia, P. fOrthor.withdrawal of gold from the
13411 k of England• has taken place. The amount
sent away yesterday was nearly £170,000, and it is
expected that a further efflux will yet be expe-
rienced. The return from the Bank of England on
Friday next will, no doubt, show a small diminu-
tion in the bullion, but a temporary movement of
that kind is of little importance, when the stock of
the precious metals is at an elevated point like the
present.

At a meeting of the Vauxhall Bridge Company
to-day, a dividend of 12s. per share was agreed to,
for the half year, being rather less than the amount
distributed at the last meeting.
The -Directors of the Bank of England have
'separated, without making any alteration in their
discount regulations. This announcement was
fully anticipated, owing to the increasing demand
for money and the efflux of gold.
The English Stock Market was seriously de.
pressed yesterday afternoon, and at the commence-
ment of business this morning further indications
of weakness were apparent. The quotations are now
rather firmer, but the fall has not been recovered,
and the market is kept in an unfavourable condi-
tion by the apprehension created among speculators
through the withdrawal of gold from the Bank,
and the efflux to the continent. Consols have de-
clined to 971 H for money and the 10th inst., and
to 98 for the December account. Bank Stock is
marked 2251 ; and the New Threes and Reduced
Annuities, 96 Long Annuities are steady at
181. The March Exchequer Bills, 395. ; June
ditto, 295. to 335. pm.. India Loan Debentures are
without any material alteration, viz., 991 for the
first issue, and 991 for the second.
Business in the Foreign Stock Market is mode-
rately
active, but prices are lower. Turkish 6
per Cents. are 921 ; ditto Scrip, Ist issue, has
fallen to 3 discount ; ditto, 2d, to to 1 prem. ;
ditto
.4 per Cents., 1051 ; Russian 5 per Cents.,
1121 113+ ; Spanish New Deferred, 303- ; Peruvian
• !; Per Cents., 92 ; ditto Uribarren, 84 ; ditto
Dollar Bonds, 791 ; and Brazilian 5 per Cents.,
The transactions in the Railway Share Market
have been of a rather limited character. At the
opening of the market prices, owing to the favourable
character of the traffic returns, exhibited firmness,
but the downward movement in the English Funds
has exercised a prejudicial influence upon quota-
tions, compared with yesterday. Great Western,
Lancashire and Yorkshire, North-Western, Mid-
land, North British, and North-Eastern (York)
have declined ss. ; Eastern Counties and South
-uevon, 10s. ; and Caledonian, and South-Eastern,
£1 ; South-Westerns have improved about ss.
to . 10s. The Foreign and Colonial lines
have been inactive, and there is little varia-
tion to report in values. Lombardo-Venetian
have improved about ss. East Indian, 55., and
Grand Trunk of Canada, £l.

Joint-Stock Bank Shares are quiet, but steady.
13ank of Australasia improved lOs., and Union of
Australia, 10s. _ _ .

In the Miscellaneous Share Market Atlantic
Telegraph realised 330 to 340, and Royal Mail
Steam 603.

BRITISH FUNDS—CLOSING PRICES.
Bank Stock
3 per Cent. Reduced Annuities 96/ / / I
3 per Cent. Consols Annuities
Now 3 per Cent. Annuities
Long Annuities, expire sth Jan., 1360 —
Ditto 30 Years expire sth April, 1885 lBl 1
India Stock '
Ditto Debentures 99/
Ditto 2d Issue
Ditto Bonds, £l,000
Ditto under £l,OOO
Consols for Account 9B 71 18 71
March June.
Exchequer
£soo,eque
rßills, £l,OOO, 2d. &11d... 39 35 129 33 29p
39
~ Ditto Small, lid. -I
FOREIGN FUNDS—CLOSING PRICES.
Brazilian, 5 per Cent. lO2l
Ditto 1858, 4%1 per Cent 971 /
Danish, 1825, 3 per Cent.
Peruvian, 41 per Cent.
Ditto Account
Ditto (Uribarren), 41 per Cent.
Russian, 1322, £ St., 5 per Cent ll3k 121 13
Ditto 41 per Cent.
Sardinian, 5 per Cent
Spanish 3 per Cent
Ditto New Deferred, 3 per Cent. —
Ditto Account
Turkish, 6 per Cent.
Ditto Account
Ditto New Loan Scrip
Ditto. Account
Ditto 2d Issue
Ditto Account
Ditto Guaranteed, 4 per Cent.

30 3

Ditto Account
Dividends on the above payable in London.
Peruvian Dollar Bonds, 41 per Ct. Ex. 4s. 791
THREE O'CLOCK.
Consols, Money
Ditto Account, November 10

„
A CELEBRATED CITY COFFEE-TIOUSE.—till
Tues-
day, at Garraway's Sale-rooms, Change-alley, Cornhill, the
celebrated tavern and chophouse, Cornhill, known by the
name of Tom's Coffee-house, came under the hammer of
Mr. Haines, the auctioneer, by order of the mortgagee. The
house is one to which some interest attaches, from its hav-
ing been one of the earliest coffee-houses in the City. Haw-
kins, in his life of Dr. Johnson, states that it was frequented
by Garrick, and then the usual rendezvous of young mer-
chants ; and the poet Chatterton, in 1770, dated from the
housea letter to his sister, stating that his then profession
obliged him to frequent places of the best resort. The pre-
mises, which have been shut up for two or three weeks, are
held on lease from Earl Cowper for an unexpired term of
nine years;at a yearly rent of £l5O, but have been sub-let
at £l,OOO a. year. The auctioneer could not get a bid for the
tal it WU GO4POTWIItIY WitiVUSWg Valgild•