The Sun.
London, England, 1858-01-18 00:00:00

ONEY MARKET

ALID
COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
The accounts received from the ms.uufaAuring
districts this morning represent business during
the past week as having been moderately active.
A gradual and progressive improvement is in most
instances perceptible enough to increase confidence.
At Birmingham, however, no material change can
be reported ; in the general trade of the place the
operatives employed in the manufacture of iron
being cc on strike." The late reduction of 20s. per
ton agreed to at the meeting of the iron masters has
been maintained, but first-class pig iron has ex-
hibited a slight improvement.
At Leeds the Woollen Cloth Trade has ex-
hibited symptoms of improvement, and at the
various Cloth Halls considerable quantities of goods
had changed hands, increased confidence being
manifested in the general improvement of trade.
There have been a few failures of consequence
during the week. Business at Bradford has been
confined exclusively to immediate requirements,
and prices have been barely supported. Some
considerable purchases of goods have been made
for home consumption, at a large sacrifice
to manufacturers. The state of trade at Halifax
has been slightly improved, but dealers exercise
great caution in their transactions ; late rates,
however, aro supported. The hosiery trade at
Leicester is slightly progressing towards recovery ;
a few orders for spring goods having beengiven out.
The demand for the spring trade, as yet, has hardly
begun, but an impression is generally entertained
that matters must soon wear a more cheerful
appearance. it Manchester, both cotton goods
and yarns continue quiet ; no improvement
whatever can be quoted in prices, and manu-
facturers complain that the present rates do
not cover the cost of production. Stocks gene-
rally axe fast diminishing. The accounts from the
East are considered rather more satisfactory, and
the prices of articles suitable for those markets
show an improved tendency.
Letters from Liverpool report that the Cotton
Market on Saturday presented a very animated
appearance, and prices of most descriptions were
fully maintained. The sales amounted to 8,000
bales, 3,000 of which were taken by the speculators.
The Railway Share Market closed quietly, and
quotations were without any material alteration.
On Saturday a further sum of 152,0001. in Aus-
tralian and Russian gold was sold to the Bank of
England, making an addition Since the date of the
last weekly return about a quarter of a million
sterling. Two or three vessels are now due from
Australia, which may be expected in a few days,
and thus it is imagined that the accumula-
tion will continue. Besides the supplies that
may be calculated upon from that quarter large re-
mittances will probably be received from the
United States, where the exchange is now in our
favour. The Persia, announced this morning, has
brought nearly 400,0001. which in the absence
of any continental demand will, no doubt, be
sant into the Threadneedle-street vaults. The
amount now dispatched to France is very limited,
the bi-monthly exports of silver to the East being
still conducted on a moderate scale. The steamer
on the 20th inst. is expected to take out a quarter
of a million sterling, but this scale of export, if
continued, will not occasion the least inconvenience.
The Bank of France is receiving ample supplies of
specie through the ordinary course of its business,
without being compelled to purchase gold at a
premium from this country. Last week the ex-
ports of specie from England were estimated at
60,000/., and the imports at 518,033/.
No alteration can be reported in the general
position of the Money Market. Since the reduc-
tion of the rate to 5 per cent., the demand has still
further decreased, and in Lombard-street the terms
charged for the negotiation of the best descrip-
tions of mercantile bills range from 3i to 4/ per
cent. It is fully believed that the authorities
'will at once perceive the necessity of lowering
their terms to a point more in accordance with
those current out of doors.
The English Funds present a very heavy appear-
ance n otwithstandin the increased ease in the money
market and the continuous influx of gold.
Owing to the uncertainty felt regarding an Indian i-
loan, the speculators are operating to a limited
extent, and a few sales exercise an unfavourable
effect. This has been proved by the variation in
prices during the last few days, and the reaction
from the highest point recently attained is now 11
about per cent. The market opened flatly, and
there has since been a decline of / per cent.,
Consols being 94i for money, and 94/ for
account. The New 3 per Cents. are 941 and
the Reduced 94/ Exchequer Bills are heavy,
and at 225. to 265. premium ; the Bonds are 99a
to 100, and India Bonds 12s. to 168. premium.
In Foreign Securities about the average amount U
of business has been done, but the market is dull !
and heavy. Turkish 6 per Cents, have been dealt
in at 97i 98i ; the 4 per Cents. Guaranteed are ,
1041 ; Russian 5 per Cents, are 109; u
Cents., 97k; Sardinian, 89; ditto 4/ per
M
and Dutch 2i per Cents., 65i. exi can Stock is 20,3 ;
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 51 6; Mexican, 1(
20i n ; Peruvian, 4, per Cents., 77 79 ; Ditto 3 1(
per Cents., 52 54; Portuguese 3 per Cents.,
44 45 ; Russian 5 per Cents., 108 110 ; Ditto 4/
per Cents., 98 100 ; Spanish 3 per Cents., 41k ;
Ditto New Deferred, 25i 26.
A very moderate business has been reported in
the Railway Share Market, and in most instances
prices have receded about /to 1 per cent. Cale-
donians, Eastern Counties, Great-Northerns, South-
Westerns, North-Eastern (
Easterns, have declined 10s.Berwick), and
Great Western
South-
Brighton and North Western, 1/. Midlands,
s.,
10s. Most of the other lines dealt in exhibited
a downward tendency. In the Foreign and Colonial
undertaking's the transactions were rather nume-
rous, but at lower quotations. Northern of France,
Paris and Lyons, and Great Central of France,
were at ss. lower ; an'l Lombardo-Venetian, 10s. ;
Grand Trunk of Canada declined 1/. Western of Canada 10s. ;Great
to 15s. , 10s. ; and East Indian, 10s.

Joint-Stock Bank Shares are quiet, but prices
are rather firmer. London and Westminster
advanced 155., and Union of London ss. ; Bank of
Australasia declined 10s.
In the Miscellaneous Market there is little
change to report. National Discount Company
have declined 55., and Royal Mail Steam im-
proved 10s.

BRITISH FIINDS.—CLOSING PRICES—THIS DAY.
(From the Official List.)
Business
il,nk Stock ....
,„ 224 done.
Per Cent. Reduced*.X
. ntiitla . ********
944 i A
3 per
;Gent Consols Annuities 948 i II
New Per Cent. Annuities 94t
Lodz Annnityizixsex,peiretij.Tan. 1860.. „
Ditto 30
spire sth Jan., 1860 1 13-16
ndia Band; 41000
r/itto, under 81000 .......... ............ .1612 p
.......... .. ..
Om sols for Acount,
Evt,,nnsr Rills 2tCi . ........
...
941 ° I
El,
cy()QO6
~... .....................
...
14.1.11
......
.....
..... :
Erchequer Bonds, 1858, il.i . p.;;.'6;;i:
Ditto, 1659 ........................
PRICES OF FOREIGN •
P4-r ,g,:
- 17.-uz —THIS DAY.
Ifexican 3 per Cent ................. ......
Ditto Account ....... . ....... ..
Peruvian Bonds, 44 per Cent...........
--.
Ditto Account Jan. 29
Portuguese Bonds, 5 per Cent., Con. 1841 78
--
Ditto 18b3, 3 per Cent
41i
Ditto Account
Russian Bonds, IS2, £ St., 5 per Cent lO9
-
Ditto, 44 per Cent. ' 99
Sardinian BonlE, 5 per Cent.
Tetrkitsh Bonds, 6 per cent 9B
.1
Ditto Ateonnt
Dttio Gnaranteod 4 per Cent.
Dividends on the above payable in London.
Dutch Exchange, 2i per Cent., 12 Guilders 65.
.--i. Do. 4 per Cent. Certificates
RAZE O'CLOCK.
Console, money ..... . ........
Ditto account (February•
4).... 94 i
.......—__

Mn. lionsurr, M.P.—We are glad to s' ate that Mr.
AMR.
is so far recovered from the effects of his late
tfaccident tbat it is his intention to address the electors
Stroud (with Mr. Scrope cal topics of the da 'his co-member) on the poli-
y in i
the course of the present week.

,20
100
1(0

60
XlOO