The Sun.
London, England, 1858-01-14 00:00:00

MONEY MARKET

d,i D

CITY, Two o'CLoca.

Nytwithstanding the improvement in monetary
affairs and the relief consequently afforded
the commercial community, an occasional failure
is reported. The advices from America show
a steady improvement, but in individual cases
they are often embarrassing, and the same
remark will also apply to the intelligence from
the north of Europe. It could not have been
expected, however, that all traces of the late col-
iapse would at once be removed, and for some time
to come a few disasters may be anticipated. Some
regret has been caused by the suspension of Messrs.
Gray and Son, an old and respectable firm in the
American trade. The liabilities are stated at about
30,000/.
Letters from Liverpool report that the Cotton
Market yesterday closed heavily but steadily, and
prices continue to decline. The sales amounted
to 5,000 bales, 500 of which were t aken by the specu-
lators and 500 by the exporters. The Railway Share
Market presented a quiet appearance, and quota-
tions were without any material alteration.
A statement has been issued by the directors of
the London Discount Company relative to the
business transacted during the half-year ending the
31st ultimo. They observe that the accounts
"show an available balance, after due provision for
contingencies, equivalent to a dividend of 21 per
cent. ; the directors, however, in the belief that
the interest of the shareholders will be best pro-
moted by the adoption of such a course,
recommend that this balance be carried for-
ward to the next half-yearly account. When
it is borne in mind that a discount company
is subject to the influences of a commer-
cial crisis,. it cannot be doubted that the results
which the directors now submit to the proprietary
must be considered satisfactory. In conclusion,
the directors would impress upon the shareholders
that time is essential to the development of a buldness
of thischaracter ; and, whilst reiterating their con-
fidence in the ultimate success of the company, draw
attention to the fact that the obstacles incidental to
the operations of a newly-formed establishment are
daily diminishing, and that events have grown out
of the late crisis to which they are justified in refer-
ring as narrowing the extent of competition, and
thereby favourably affecting the prosperity of the
company."
About 14,0001. in gold was taken into the Bank
of England yesterday.
There is an increased demand for silver, owing to
preparations for remittances by the steamer to the
20th inst., and bars are quoted ss. 10. per ounce
atandat d.

There was a meeting to-day of the creditors of
Messrs. Sewell and Neck, Norwegian merchants.
Charles Pottie, Esq., Swedish consul, took the
chair. Mr. Turquand, the accountant, read
the statement, which showed that the total liabili-
ties were 150,6751., and the total assets were
188,2571., leaving a surplus of the joint estate of
37,581.1. In addition to this the partners' private
estate was expected to realise 20,0001., making a
total surplus of 57,5801. The conduct of the firm
was much approved of, and it was agreed to take
20s. in the pound in four instalments of ss. each',
with 5 per cent interest.

earrisri TUNDS THIS DAY AT ONE u'01.0( ;1:c
(From the Official List:i

TWO O'CLOCK
Console, money
85kConsols for account

COMMERCIAL INTELLIGENCE. I shr.

REDUCTION OF THE BANK RATE OF St.
DISCOUNT. St.
st.
A. reduction of 1 per cent. has been made in the St.
Bank rate of discount, which now stands at 5 per 50
cent. This measure, which was fully anticipated, st.
will not bring business to the national establish- a
ment, the terms current out of doors being little 20
above 4 per cent. As there is now an abundant 20
supply and a limited demand, a good deal of compe 120
-
tition will prevail among the monied interest, which 25
will have the effect of causing increased ease. 25
The London and Westminster Bank notified yes-
terday that they will only allow 3 per cent. for de- St.
posits of 5001. and upwards, and 2 per cent. for St.
smaller amounts. The other banks will no doubt 25
20
adopt a similar measure. St.
Increased firmness has been visible in the English 50
Stock Market, but the reduction of the Bank rate 20
exercised no influence. Speculation continues inert, 10
and the public are purchasing only small quantities
for investment. The market, though quiet, g
however, is very firm, with an upward tendency. 20
Consols for money have been 9414 95, and for ao- 10
count 95 to 95i. They are now 944 95 and 95 to 20
951 respectively. The New 3 per Cents. are 941 to 10
95k, and also the Reduced Exchequer Bills have
also risen to 19s. and 235. premium ; the Bonds
are marked 99, and India Bonds ss. to 10s. pre- Le°
mium. Indian Stock is 221 to 224. 18

In the Foreign Market there is a good deal of 18
animation and prices are buoyant. Turkish 6 per 204
Cents. are 98i 99 ; ditto 4 per Cents., 1041 A ; 100
Brazilian 5 per Cents., 1011 ; Danish 5 per Cents., 100
100 ; Mexican 3 per Cents., 201 4s. ; Peruvian 4 100
per Cents., 781 ; Portuguese 3 per Cents., 44 ; 20
Russian 5 per Cents., 109- 110 ; Sardinian 5 per 20
Cents., 88/ 89 ; Spanish 3 per Cents., 414 ; ditto 20
Deferred 25i ; Dutch 2i per Cents., 65i ; and 20
174
ditto 4 per Cents. 99.
20
The following are the nominal prices of Foreign St.
Stocks :-Greuada Deferred Bonds, 5l 6; Mexican, 20
201 A ; Peruvian 4A per Cents., 77 78 ; Ditto 3 per 100
Ceuts., 52 54 ; Portuguese 3 per Cents., 44 45 ; 100
Russian 5 per Cents., 108 110 ; Ditto, 4i per 20
Cents., -- ; Spanish 3 per Cents., 41 41 ; St.
Ditto New Deferred, 25t 25i ; Ditto Certificates, 100
-; Ditto Passive, -. 20
The last week's railway receipts, ascertained up 20
to this day, are in round figures as under :- 20
20
1858. 1857. 100
Great Western. £24,09) £22,875 I°°,,
North-Western
Sonth-Western
Brighton 10,821 9,877 20
Midland
South-Eastern - 18,135 17,666
Great Northern 23,292 21,463
Lancashire and Yorkshire 18,236 21,857
Bristol and Exeter 5,169 5,406
Chester and Holyhead
East Lancashire 4,847 6,143
Lancaster and Carlisle
Manchester, Sheffield, & Lincoln 9,018 9,570
North London
West Hartlepool 2,607 2,891
Waterford and Limerick
Edinburgh and Glasgow
Glasgow and South-Western
Scottish North-Eastern 3,485 3,335
Grand Trunk of Canada
Great Western of Canada 8,227 10,855
Great Luxembourg
Royal Danish
The transactions in the Railway Share Market
this morning have been rather numerous. The
settlement of the account being now in active pro-
gress, and most of the dealings have been
in reference to that event. Prices, in most
instances, have exhibited a considerable im-
provement. Caledonian advanced 10=. ; East-
ern Counties, Lancashire and Yorkshire,
Brighton, North Western, South Western,
and South Eastern, 1/. ; and Great Western and
Great Northern, 1/. 10s. The Foreign and Colo-
nial lines are inactive ; prices, however, are firmer.
Northern of France have improved 10s. ; Great
Luxembourg, ss. ; Grand Trunk of Canada, 1/. ;
and East Indian, 10s.
Mining Shares are quiet, and Joint-Stock Bank
Shares are rather firmer.

Businessdone.
I per Cent. Reduced Annuities 3
95! 4i 5h
3 per Cent. consols Annuities.,, . 944 5 4
New per Cent. Annuities ...... ............ 93 i
India Stock
New 2i per Cent. Annuities . ............ 79
Ia at gouda, 1101.;1;
. 5
')itto, under 21000 .......................... ............. 10 5
Q .n.sols for Accoutu, Feb 4
...... ........... 95 i
Ez3tiowler 'llls, zld
61000. ...... ........................ 22 23 19 P
560
22 19 24 p
Snail ..
..................... 20 p
1 Exchequer Bonds, 1b58,34 per Cent._
• Ditto, 1859
99
PRICES OF FOREIGN FUNDS Al ONE O'CLOCK
Bravaan 5 per Cent.
Danish Bonds, 3 per Ceut., 1825
Ditto 5 per Cent
Mexican 3 per Cent 9oj i
Ditto Account
Peruvian Bonds, 4i per Cent
Ditto Account Jan. 29
Portuguese Bonds, 5 per Cent., Con. 1841 --
Ditto 18b3, 3 per Cent 44
Russian Bonds, 1622, 1.; St., 5 per Cent llO 9s
Sardinian Bonds, 5 per Cont.
Ditto Account
Spmish r.m.(18, 3 per Cent.
Ditto New Deferred, 3 per Cent.
Turkish Bonds, 6 per cent 9BA
Ditto Account 9B i i 9
Ditto Guaranteed, 4 per Cent. .... lO4
Ditto Account, Jan. 29
Dividends on the above payable In London.
Dutch Exchange, : 2per Cen:;., 12 Guilders 6'4
Do. 4 per Cent. Certificates
--