The Sun.
London, England, 1858-01-08 00:00:00

MONEY MARKET

d'OD

CCx VIERCIAL INTELLIGENCE,

CITY, Two o'CLocK.
The Liverpool Cotton Market yesterday closed
with a steady appearance, and prices of all descrip-
tions were fully supported. The sales wore esti-
mated at 6,000 bales, 1,000 of which were taken
on speculation and 1,000 for export. The Railway
Share Market manifested a better feeling, in con-
sequence of the reduction in the rate of discount:by
the Bank of England, and quotations slightly ad-
vanced.

Business in the Foreign and Colonial Produce
Markets during the last two or three days has been
active, a good demand having been experienced
for the better qualities of both Foreign and Colonial
sugar. For the finer descriptions prices have ad-
vanced about Is. to 2s. per cwt., but rather lower
rates are current for other sorts. Tea has
been extremely firm, and medium Congous
at public auction met a ready sale at an ad-
vance of 2d. per lb. Common Congous advanced
id. to id. per lb. A fair amount of business has
been reported in coffee, and Plantation Ceylon
has improved in value about is. per cwt. Cocoa
has been dull, the late large arrivals having fully
stocked the market. Rice has been dealt in to a
fair extent, at about previous rates, and fruit,
spices, and saltpetre have slightly advanced. For
tallow there has been a brisk demand, and P.Y.C.
has improved ; on the spot 555., and January to
March delivery 565. per cwt.

The relief afforded by the alteration in the Bank
of England rate of discount is scarcely yet ascer-
tained, the demand being temporarily maintained
in consequence of many persons who anticipated
the change having delayed obtaining what they
required until after the weekly court. Still,
however, the discount firms will freely negotiate
first-class bills under the minimum, 5i and 51 hav-
ing been accepted in exceptional oases. Early next
week increased easiness will probably be experi-
enced, because the general inquiry is slackening,
while there is a decided increase in the supply.
Indeed, the banks and private firms have already a
superabundance, and notwithstanding the reduction
made in the, terms of interest, they will hence-
forth allow for deposits. They will no doubt continue
to receive extensive offers of money, from various
sources. Under these circumstances the competi-
tion that must exist will soon lead to a further re-
duction in the charge for discount accommodation.
About 93,0001. in gold was added to the metallic
reserves of the Bank of England yesterday, and
the total must now exceed twelve millions and a
half sterling.
This day the half-yearly meeting of the Com-
mercial Dock Company was held at the offices,
when a dividend of 2/. 10s. for the half-year was
declared. The report briefly stated that the num-
ber of ships which entered the docks in 1857 was
1,061, against 939 in 1856.
The Funds, after a sudden fall of about per
cent, have now recovered to their former position,
and an extensive business, chiefly of a routine cha-
racter and connected with the settlement, has been
done. Consols for money have been 941 -I, and
as low as 94 while for Feb. 4, they dropped
from 95i to 94i I. The prices are now 942- / and
95 respectively. The settlement is one of the
heaviest known for a long time past, and two
failutes are already announced. The New Three
per Cents. have ranged from 94i to 951, and the
Reduced are marked 941 and 94g. Bank Stock is
firm at 220. Exchequer Bills are 9s. to 12s. prem.
The Market for Foreign Securities has continued
quiet, and the prices rather fluctuating. Turkish St.
per Cents. are 981 to 991 ; ditto 4 per Cents. 50
103 104 ; Buenos Ayres 6 per Cents. 94 ; Chilian St.
6 per Cents. 102 ; Sardinian 5 per Cents. 871 88 ;
Venezuela 41. per Cents. 31 ; Dutch 4 per Cents. 20
99 ; and Peruvian Dollar Bonds 55. 20
The following are the nominal prices of Foreign ie.
Stocks :—Grenada Deferred Bonds, 516 ; Mexican,
20 ; Peruvian 41 per Cents., 79 81; Ditto 3 per N
Cents., 54 56 ; Portuguese 3 per Cents., 43144 k;
..•
Russian 5 per Cents., 108 110 ; Ditto, 41. per St
Cents., 98 100 ; Spanish 3 per Cents., 41 42 ; S
25
t
Ditto New Deferred, 26 26i ; Ditto Certificates,
• Ditto Passive, —.
kessrs.i D. Bell and Son give the following as
the prices of American Securities :
GOVEUNMENT SECURITIES.
Redeemable. Per Cent
United States 6 per Cents. 1867-1868... 104
United States 6 per Cent. Bonds 1868-103 105
STATE SECURITIES.

~78
88 90
..26 9.3