The Sun.
London, England, 1858-01-11 00:00:00

MONEY MARKET

A TD

COMMERCIAL INTELLIGENCE.
CITY, Two o'CLocK.
The advices received this morning from the
manufacturing districts are rather more satisfactory.
At Manchester the easier state of the Money Market

had caused a gradual return of confidence ; the im-
provement however is slow, buyers having mani-
fested great caution in their operations, and the
slight advance in the value of the raw material pre-
vented any large speculative transactions being

entered into. For long cloths, T cloths, and print-
ings there was a better inquiry, but holders demand
fully former terms. Business at Birmingham has
been languid, and in many establishments the'men
are only working three days a week. The fancy
trades are particularly dull. The iron trade of
South Staffordshire remains remarkably quiet, and
few orders have been received either for home

or foreign consumption. Both buyers and sel-
lers are waiting the result of the quarterly
meeting of the ironmasters at Wolverhampton on
Wednesday next. At Nottingham there have been
a few buyers in the market from the Continent,
and on the whole a fair business has been tran-

taacted, symptoms of improvement being visible in
most departments. The hosiery trade, however,
is depressed, there being few orders from the
United States. The manufacturers, however, are
in good spirits, as it is generally expected that be-
fore long there will be a good and healthy demand.
In Leeds the markets for both wools and piece-
goods have exhibited a decided improvement. All
classes are acting with more spirit, and trading con-
fidence has in a great measure been restored. A
moderate quantity of goods have found purchasers
at barely late prices. Trade at Halifax has exhi-
bited an improved aspect. The carpet manufac-
turers are better employed, and most of the mills
are now working full time. There was a fair
amount of heavy goods sold during the week, and
in several instances improved prices were realised.
At Bradford a moderate business has been done in
both wools and piece-goods, and on the finor qua-
lities of combing wools an advance of lid. per lb.
has been established. In piece-goods there is a
fair business doing, and the stocks generally in the
hands of the manufacturers are very low. The
hosiery trade at Leicester continues depressed.
Worsted yarns are lower, but the transactions en-
tered into are limited. An expectation, however,
prevails that, as the spring advances, business will
be very brisk.
The Liverpool Cotton Market on Saturday
closed flatly, and prices of most descriptions de-
clined. The sales were estimated at 4,000 bales,
1,000 of which were taken on speculation and for
export. The Railway Share Market exhibited a
very active appearance, and quotations improved.
Last week the receipts of specie were 647,3181.
and the exports 35,7441.
On Saturday about 20,0001. in gold was sent into
the Bank of England.
According to a statement just issued, it appears
that last year the exports of gold and silver direct
from London amounted to 28,477,5901. against
17,806,9401. in the previous year. Besides this
8,654,500/. was sent to France, by way of Folke-
stone and Dover, and 2,133,5801. and 1,398,8201.
was dispatched from Mediterranean ports to India
and China.

The demand for money during the last two or
three days has been quiet, and owing to the general
impression that the Bank directors will speedily
reduce the minimum to 5 per cent., the public limit
their applications as much as possible. While the
official rate is maintained at 6 the bill brokers will
manage to maintain their terms at 5i or 51, but as
soon as 5 per cent. is established as the mini-
mum, a fraction below that point will be sub-
mitted to out of doors. As this change may be
merely the question of a week or two, parties en-
gaged in business only obtain what they require at
once, and hEnce the market presents a quiet ap-
pearance, with a tendency towards increased ease.
The general allowance for deposits is now 4 and 4i
per cent., so that if discount business can for the
moment be obtained at an average of 5i per cent.,
there is a fair margin of profit, but there is reason
to believe that both the bankers and the discount-
houses have an excessive supply, which must be
partially unproductive.

- -
There is a very inactive market for public securi-
ties but this can excite no surprise after such an
important settlement. The quotations are rather
heavy and a decline of about per cent. has en-
sued, but upon the whole, the market exhibits
great strength and no material reaction is
anticipated in the face of increased ease in
monetary affairs, and the continued influx of gold
into the Bank vaults. Consols have been 941 95
for money, and 95 to 951 for account. The New
Three per Cents. are 95 to 951, and the Reduced
94-/ 95. Bank Stock is 220 to 222. Exchequer
Bills are 13s. to 15s. prem., and the Bonds 901.
Foreign Stocks are also very dull, and at rather
lower quotations. Turkish 6 per Cents. are marked
981 to 99, and the 4 per Cents. 104 to 104 k.
Russian 6 per Cents. are 110 ; ditto Small 100 ;
Sardinian 88 ; Spanish New Deferred 26} ; and
the Passive 51 ; Dutch 4 per Cents. are 65.
The following are the nominal prices of Foreign
Stocks r---Grenada Deferred Bonds, 51 6; Mexican,
20f 8 ; Peruvian 41 per Cents., 79 80 ; Ditto 3 per
Cents., 54 56 ; Portuguese 3 per Cents., 431 441;
Russian 5 per Cents., 108 110 ; Ditto, 4i per
Cents., 98 100 ; Spanish 3 per Cents., 41} ;
Ditto New Deferred, 25i 26k ; Ditto Certificates,
—; Ditto Passive, —.
Business in the Railway Share Market this
morning has been active, and quotations have
exhibited a buoyant appearance. Several of the
leading lines showing an improvement of about
to Is per cent. Great Northern and South-Eastern
improved ss. ; Caledonian, and Lancaster and Car-
lisle, 10s. to 15s ; and Great Western and Eastern
Counties, 11. ; South-Western, Brighton, Lancashire
and Yorkshire, and Edinburgh and Glasgow declined
ss. to 10s. In the Foreign and Colonial under-
takings prices have been steady. Eastern of France,
Southern of France, and Lombardo Venetian,
realised former quotations. Grand Trunk of Canada
improved 108., and East Indian declined ss.
Mines, Banks, and Miscellaneous Shares are
inactive. Ottoman Bank have improved ss. ;
Union of Australia, 10s. ; and Peninsnlar and
Oriental Steam, ss. to 10s.

BRITISH FUNDS.—CLOSING PRICES—THIS DAY.
(From the Official Lists)

Businessdone.
Bank Stock
8 per Cont. Reduced Annuities 95 4,1 5i
3 per Cent. Consols Annuities 94i 5 4i
New 3 per Cent. Annuities 95 5
India Stock
Is as Ilona, .ClOllO
flitto, under £lOOO 1 p
Oat sols for Account, Feb 4
Thanequer Bills, h.O.
2100'J
_ _ _

''soo
S call
Exchequer Bonds, 1858, 3i per Cent 99i
PRICES OF FOREIGN FUNDS—THIS DAY.
Brannan 5 per Cent.
Mexican 3 per Cent
Ditto Account 2oi
Portuguese Bonds, 5 per Cent., Con. 1841
Ditto 1863, 3 per Cent...
Russian Bonds, 1822, St., 5 per Cent llO
Ditto, 4i per Cent. 99h
Ditto Small
eardinia.n Bonds, 5 per Cent.
Ditto Account
Spanish Roads, 3 per Cent.
'tato New Deferred 3 per Cent,26i
Ditt, Passive
Turkibh Ronde, 6 p.r cent
Ditto Account .................. 9O 8
Ditto Guaranteed, 4 pe .r
Cent.
Ditto Account ... .......
104; 4
Dividends on the ai3O;.e payable in London.
Dutch Exchange, 23 per Cent., 12 Guilders 65 4i 51
Do. 4 per Cent. Certificates
fttlitEß O'CLOCK.
Console, money ...... .................... 91i
Ditto account (February 4) ......... 95