The Sun.
London, England, 1859-02-23 00:00:00

IVIOII7EY MARKET AND CITY NEWS.

CITY, Two o'CLocK.

There is still an inactive demand for accommo-
dation, and, as an illustration of the difficulty ex-
perienced by capitalists and others in obtaining
employment for the means at their disposal, it
may be mentioned that choice bills of short date
have been negotiated at Iyto 2 per cent. If this
state of affairs should continue the Bank autho-
rities, who charge 21 per cent., will necessarily
experience an important falling off in their discount
business. Whether, under any circumstances,
they would reduce the minimum to 2 per
Cent., a point not attained since 1852,
when the bullion stood at £19,587,670, and the
notes in circulation at £21,598,854, is considered
very doubtful. The various items of the balance-
sheet, however, are now approaching a position
equal to that exhibited at the period referred to—
seven years ago. Some persons imagine that
the revival of trade, coupled with the absorption
for loans and other joint-stock enterprises, will soon
initiate a contra'cy movement, but at present these
influences have not trenched upon the resources of
the market to :any appreciable extent, and in the
Meantime the excumulation of bullion continues,
and the value of money shows a downward ten-
dency.

The Silver Market is very dull, in consequence
of the decline in the Eastern exchanges, but there
i 8 no alteration in prices.

The Foreign Exchanges, yesterday afternoon,
exhibited a considerable advance in the rates on
Vienna and Trieste ; Hamburg was also slightly
higher.
About £13,000, in gold, was taken into the Bank
of England yesterday.
The Tagus, from the Peninsula, brings about
£1,455 in specie.
The Liverpool Cotton Market yesterday closed
heavily, and 5,000 bales were disposed of at about
former quotations. In Railway Shares the trans-
actions were limited, and prices continued to
decline.

A meeting of Venezuelan bondholders is now
being held, to consider proposals for the arrange-
ment of the debt. The terms originally offered by
Senor Rodriguez have been amended. It is now
proposed that, from the commencement of 1860,
the Active Bonds shall bear 3 per cent. and the
beferred 11 per cent.—the arrears in both to be
funded in 3 per Cents. This concedes all the depu-
tation of bondholders asked in the memorial lately
presented to the Minister ; but the question for
Consideration is, whether the offer is vitiated by
the delay of several months which it is proposed shall
take place..

At the meeting of the Southampton Dock Com-
pany to-day the report was adopted, and a divi-
dend at the rate of 34 per cent. per annum was
declared.

The meeting of the North Devon Railway Com-
panyalso took place to-day, when a report was
Presented, showing the net receipts of the half-year
to be £2,556, from which the 'preference dividend
Would be payable, and also a dividend of 17s. 6d.
Per cent. for the half-year on the ordinary stock,
leaving a balance of £ll7 to be carried forward.
There was another meeting of the Atlantic Tele-
graph
Company to-day, but it was again adjourned.
The market for English Securities during the
earlier hours of business was very dull, but firm, at
the improved rates current yesterday afternoon.
9y9ing to the report that Lord Cowley is going to
.Vienna, a sudden advance subsequently took place
14 Consols, which rose from 951- ato 951 but the
IZesent quotation is 951. The New Threes, and the
Reduced are 951 ; Exchequer Bills (March), 355. ;
ditto, advertised, 345. to 38s. prem. ; and the Bonds
100.. India Stock is 218 to 220, and the Deben-
tures, 981,
A fair amount of business is -recorded in
Foreign Securities, and prices, in most instances,
an improvement. Turkish 6 per Cents. are
90 901 ; ditto New Loan, 79/ to 801 ; ditto 2d
Issue, 51. to 5-1 dis. ; and the 4 per Cents. are steady
at 1021; Mexican have declined to 19i and 201- ;
Peruvian 42 per Cents. to 921 93 ; the 3 per Cents.
to 724 ; Russian 5 per Cents., to 1121 ; Sardinian,
to 801 a.. ; and Dutch 4 per Cents., to 1011; Bra-
zilian 4t- per Cents. are heavy at 931 to 94; but
Venezuelan 5 per Cents. are firm at 441; and Per.
tuguese at 461. The New Austrian Loan is 11 to
1 discount.

There has been rather more activity exhibited in
the Railway Share Market, and prices generally
have shown an improving tendency. The aggregate
advance on most of the principal lines, compared
with yesterday's closing quotations, being about -I
to 2 per cent. Caledonian, Eastern Counties, Great
Western, and South Eastern have each advanced
6°. Great Northern, Lancashire and Carlisle,
and North British, 10s. Brighton, Midland, and
one or two others, have realised yesterday's rates.

The Foreign undertakings have been very inac-
tive. Paris and Lyons have receded about ss. ;
Lombardo-Venetian old shares have slightly im-
proved, but the new shares remain steady at
former rates.

In the Colonial Market scarcely any business has
been done. East Indian have improved to 1021 to
z•

Joint-Stock Bank and Miscellaneous Shares are
111 moderate demand, at a slight advance on former

values.

tItITISH FUNDS THIS DAY AT ONE O'CLOCK.
.3, Per Cent. Reduced Annuities 951
~,,,u per Cent. Consols Annuities
."., "'w. 3 per Cent. Annuities 951 /
'lldia Stock
Ditto Debentures 9Bl
Consols for Account 951 /
March June.
Excheuer Bills, £l,OOO, 2d. & lid.. 35
Ditto Small, 11d.
Ditto Advertised
Exchequer Bonds, 1859, 31 per Cent .... 100
PRICES OF FOREIGN FUNDS AT ONE O'CLOCK
ill'azilian 5 per Cent.
Ditto 1858, 4/ per Cent. 941 3
Mexican 3 per Cent —
Ditto Account
Peruvian 41 per Cent 921
Ditto Account
Ditto 3 per Cent.
Russian,, 18
2218, L 53,
St., 5 per Cent ll2 3 per Cent.
Sardinian, 5 per Cent.
80/ 80 1
Turkish 6 per Cent —
Ditto Account
Ditto New Loan
Ditto Account
Ditto 2d Issue
Ditto Account
Ditto Guaranteed, 4 per Cent.
Venezuela, 5 per Cent.
Ditto Account
Dividends on the above payable in London.
Dutch Exchange, 12 Guil. 21 per Cent —
Ditto Certificates, 4 per Cent.
TWO O'CLOCK.
Consols, Money 951
. Consols for Account

PRICE of GOLD. The quotation of gold at
Paris is about at par, and the short exchange on London
is 25.14 per £1 sterling. On comparing these rates
with the English Mint price of £3 17s. 101 d. per
ounce for standard gold, it appears that gold is about 2-10ths
tr cent. dearer in Paris than in London. Byan add
the shortvices from
-')Laraburg the price of gold is 4241 per mark,
exchange on London is 13.41 per £1 sterling. Standard
gold at the English Mint price is, therefore, about 1-10th
Per cent. dearer in Hamburg than in London. The course
of exchange at New York on London for bills at 60 days'
sight is 104 per cent., which, when compared with the
Mint par between the two countries, shows that the ex-
change is about at par; and, after making allowance for
charges of transport and difference of, interest, the present
rate leaves scarcely any profit on the importation of gold
from the United States.

THE LATE IMPRISONMENT FOR HOP DUTY.--
"We are glad to find that John Wells, whose imprisonment
iu Horsemonger-gaol, for non-payment of hop duty, was
brought under our notice by Mr. Nash, Rochester, a week
or two since, has been released. Mr. Nash himself first ap-
pealed to the Inland Revenue authorities on Wells's behalf
but this proving unsuccessful, he made known the circum-
stances to J. I. Briscoe, Esq., one of the members for West
•SUrrey, who memorialised the Treasury, and Wells's libe-
ration was thus ultimately obtained.—South Eastern
Gazette.

BRAY'S TRACTION ENGlNE.—Arrangements were
ludo by the directors of Bray's Traction Engine Company
for an experimental trip yesterday, to draw four laden coal
waggons, of a gross weight of 22 tons, from the Great
Northern Coal Depot to Westminster and back. The en-
gine started with the load with the greatest ease, and pro-
ceeded up the incline out of the station, but in the ascent
the splinter bar of the first waggon broke away. The
waggon was then secured by rope lashings, but this de-
rangement so seriously interfered with the progress of the
other waggons as to make it imprudent to go on through
the crowded streets. The waggons were accordingly taken
haFk. to the depot, and the engine alone pursued the route
originally intended, passing amid the carriages in the pub-
lic thoroughfares with the greatest facility. It is intended
on an early day to resume the experiments with trucks cal-
culated to have such a heavy weight as to demonstrate the
power of the engine,