The Sun.
London, England, 1858-12-18 00:00:00

MONEY 21f411.,EICET AND CITY NEWS.

CITY, Two O'CLOCK.

The Bank of England return, completed to the
lsth ult., is of a satisfactory character. The
bullion shows a slight augmentation, cdnseqUent
upon the late .arrivals from Australia and the
absence of ship ments to the Continent. In the
reserve of notes there has been an increase of more
than a quarter of a million. The other securities
show an addition of nearly half a million, which
in a great measure may be accounted for by tho
reduction in the minimum rate of discount. The
demand for accommodation on the part of the mer-
cantile community was slightly increased conse-
quent upon the preparations now making for the
Payment of yearly accounts. The public deposits
have been augmented by about half a million, and
in the private deposits there is also a small increase.
The active circulation shows a slight falling off.
The various items in the balance-sheet, and the
changes they present, will be seen in the subjoined
table
Active Circulation .. $19,746,255
Decrease .. .. 292,655
Bullion .. .. 19,024,369
I •• ncrease .. • • • • • • 3 100 103,198
Rest 444
•• •• ••
Increase .. • • • • • • 3,511
Public Deposits 9,526,771
Increase .. • • • • • • 670,957
Other Deposits •• •• 12,6067131
Increase .. • • • • • • 234,463
Seven Day and other Bills .. 763,862
Decrease .. • • • • 30,306
Government Securities • • • • 10,808,591
No alteration.
Other Securities •• •• 15, 988, 503
Increase .. 482,772
Notes Unemployed .. .. 13,106,215
Increase .. 374,955

It will be seen by the above figures that the de-
mand for money has materially increased, not only
111 the open markQt, but also at the Bank of Eng-
land. It is probable that this stimulus would have
been experienced, even if the minimum had been
maintained at 3 per cent., although in that case

- "he discount business of the
-
Metropolis , Ind no tiount hav, ~een transacted
among the jc.,..it-stock and private banking esta-
blishments. The increased activity temporarily ap-
Parent has led to some conversation with reference to
the probability of a revival of the policy adopted
last week, but this opinion is not shared in by the
Majority at present, as there is an idea that the
Pressure will diminish as soon as the preparations
shall have been completed for the liquidation of
annual accounts. Besides the enlarged require-
Meats of trade, however, the absorption which is
likely
to take place on account of loans, and other
new projects, is also taken into consideration ; and
if such enterprises should be encouraged, there could
be no doubt that the existing easiness and abun-
dance of money will not be so protracted as was
an*.cipated a few months ago.
The Peninsular and Oriental Company's steamer
Which leaves on Monday for India and China, will
take out specie to the amount of £324,262 in silver,
£lO,OOO of which is for Ceylon, £120,000 for India,
and £193,362 for China and the Straits.
The Liverpool Cotton Market yesterday closed
steadily, and the sales amounted to 8,000 bales.
Since Monday last the imports of specie have
been about £512,521, and the exports £446,962,
exclusive of the following shipments direct from
London to the Continent during the week ending
Thursday last :—Gold coin Hambro', 30 ozs. ;
Road dust—Rotterdam, 25 ozs. ; silver coin—Bou-
logne, 2,000 ozs. ; silver bars—Hambro', 250 ozs.
It appears that the support of the Government
has been secured by the promoters of the Madras
Irrigation and Canal Company, the object of which
is clearly of vast importance to the prosperity of
India. The first capital is fixed at £2,000,000,
and the first issue is to be £1,000,000, in shares of
£2O each. Upon this sum a minimum interest of
£5 per cent. has been guaranteed, all surplus
Profits to be divided equally between the Govern -
Ment and the company. The deposit required
is £1 per share, to bear interest at the guaranteed
rate from the day on which the same shall be paid
into the Indian treasury, Such works as these
have hitherto been executed by the Indian Govern-
Ment, but many millions of acres still lay waste for
Want of irrigation to make them fertile and profit-
able. To aid the Government in supplying these
fundamental wants throughout the several districts
requiring them, is the object of the company, and it
18 therefore to be hoped that the enterprise, being
of a very useful character, and likely in the end to
Prove highly remunerative, will meet with adequate
encouragement.
The funds have been rather heavy to•day, at a
further decline of f per cent. It appears that the
increased demand for money is exerting an un-
favourable influence, and the augmentation in the
" other securities" has not escaped attention. Con-
sols have been 961. The investments effected
133' the Government broker give very little
support to the market. The New Threes are
971- ; and the Reduced 97 to 971. East
India Stock is 229. The March Exchequer
Bills are 355. to 395., and the June ditto
355. to 395. prem. ; India Debentures are 991 100,
and the Bonds 13s. to 16s. prem.
A small amount of business has been transacted
in the market for Foreign Stocks. Turkish 6 per
Cents. are 924 93 ; the New Scrip, Ist issue,
; ditto, 2d issue, to i - dis. ; Spanish Certifi-
cates are 61 ; Russian 5 per Cents. 1131 ; Peruvian
41 per Cents., 94 ; and Brazilian 41 per Cents.,
oti ; Chilian Scrip is ti premium.
Business in the Railway Share Market has been
l'ery dull, and the few dealings reported show a
further slight decline. East Anglian, Great Wes-
tern, Lancashire and Yorkshire, North Western,
and Midland, declined Ss. ; Great Northern and
Worth British, 10s. ; and Brighton, 15s. Bristol
end Exeter, Eastern Counties, and Edinburgh,
l'erth, and Dundee, improved about ss. The
Foreign and Colonial lines are flat. Northern of
France have improved about ss. ; East Indian de-
clined 55., and Great Western of Canada ss.

Joint-Stock Banks and Miscellaneous Shares are
at slightly reduced quotations.

BRITISH FUNDS—CLOSING PRICES.
3 Per Cent. Reduced Annuities 971 7
11.cryr 3 per Cent. Annuities
India Stock
Ditto Debentures 99/ 100
Ditto Bonds, £l,OOO
thtto under £l,OOO
Consols for Account 961
March June.
Ixtheqn
Or Bills, £l,OOO, 2d. &lid... 35 9 3B 9 6
13 itto g 54, 39
aiitto Small, 11d.
FOREIGN FUNDS—CLOSING PRICES.
Brazilian 5 per Cent.
,Ditto 1858, 41 per Cent. 951
`-'l3.llian, 6 per Cent. —
Ditto,e 41 per Cent. Scrip 1 1 p
1,-. Peruvian 41 per Cent 92
°l-hlruese 1853 3 per Cent.
, , 481
Russian, 1822, £ St., 5 per Cent ll3l
,IPtalishCora. Cert. of Coup. not funded 6l
lukish 6 per Cent . —
Ditto Account
Ditto New Loan Scrip —
,v.Ditto Account
ell,sezuela, 5 per Cent.
uitto Account
Dividends on the above payable in London.
batch Excbange 12 Guil. 21 per Cent 66/
Ditto Certificates, 4 per Cent.
TWO O'CLOCK.

38 9

Consols, Money
Ditto Account,

Mr. and Mrs. Joseph Henley passed through
twu on Monday last from Oxfordshire to Brighton. Mr.
I",ley having nearly recovered from his late accident, has
11 able to resume his duties as private secretary to his
441ther, the President of the Board of Trade.
The Earl of Cardigan, with his bride, arrived at
Deane Park on Tuesday afternoon, and were received by a
large party of the tenantry on horseback. A handsome
4
'thirephal arch, decorated with flowers and evergreens, was
erected at the entrance, and the children of the schools wore
dra
Iva up on either side of the carriage drive, flanked by a
numerous assemblage of villagers. The Stamford Foundry
Band, in their uniform, were stationed in the lawn, and
Alayed " See the Conquering Hero Comes." " His lord-
:'l.l3 appeared," says the Stamford Mercury, " to be taken
;little by surprise, but was evidently gratified with his
h. .ePtion, and immediately alighted and paid his respects to
.4%tenantry, for whom an excellent dinner had been pro-
Nyi;_ji at the steward's house. The bridal party were
Without company."
kaPIE BOMBAY MAILS.—The Vectis, with the
da 8 from Bombay, arrived at Marseilles at noon yester-
Y, the 17th inst. The mails loft for London at 5 p.m.
fir. 4 Henry Desborough, of the Atlas, the oldest
secretary in London, has resigned on a hand-
-542 Pension, after more than 50 years' service. Ho is
oftreeeeded by Mr. Richard Ray, formerly of the Sun Fire-