The Sun.
London, England, 1859-04-27 00:00:00

MONEY MARKET AND CITY NEWS.

QUARTER TO THREE:-

The panic feeling in the City continues,' and
further intelligence from the Continent is awaited
With the most intense anxiety.
The underwriters at Lloyd's are now demanding
war risks for premiums of insurance on vessels
to and from the Mediterranean and elsewhere.

The Funds, however, are a shade firmer, Coniols
being 92 to for money and account. Foreign
Stocks and Railway Shares are also less depressed,
but after such an extensive fall symptoms of partial
reaction must of course be anticipated.
CITY, Two O'CLOCK.

In the general discount market there is still an
active inquiry for accommodation, which, together
with the efflux of gold from the Bank, supports
the quotations charged for negotiating commercial
bills. The tendency is evidently in an upward
direction, and it is expected that theßank directors
will soon announce an advance in the minimum to
3 per cent. The quantity of gold lately withdrawn
has caused an important reduction in the bullion,
although the last return gave the total at £18,051,375.
Since then, however, a further diminution has taken
place. As the shipments of gold to the continent,
and of silver to the East, are still conducted on an
extensive scale, it is concluded that the authorities

will deem it prudent to modify the existing regu-
lations. The reactionary tendency in the money
market has increased the depression which has
been occasioned at the Stock Exchange by the
alarming advices from the continent. •

A further sum of £40,000 was withdrawn from
the Bank of England yesterday for exportation to
the continent, and about £140,000 of the £350,000
American gold has been taken for the same
purpose.

-In the Foreign Exchanges yesterday afternoon a
further slight advance was recorded in the rates on
Austria.

The bar silver brought by the last Indian
steamer has been disposed of at ss. 1 d. per oz.,
showing a decline of 10. compared with the price
realised by the preceding packet.
Letters from Liverpool report that the Cotton
Market yesterday closed very heavily, and prices
remained without any material alteration. The
sales were only 3,000 bales. In Railway Shares
a fair amount of business was recorded, and quota-
tions were firmer.

A meeting of the Belgian Eastern Junction
Railway Company took place to-day. The report
was on the whole satisfactory, and showed a slight
improvement in the traffic of the year 1858 over
that of 1857. The net balance of revenue for the
year was £l,lBO 16s. The report was adopted.
At the meeting of the Royal Mail Steam Packet
Company held to-day, Capt. Mangles, M.P., in the
chair, a report was read, from which it appeared
that an increase had taken place on the year
operations of £7,647 18s. 3d. The balance avail-
able for . distribution for the half-year was
£36,683 18s. 9d., out of which the directors recom-
mend that the ordinary dividend of £2 per shale
be declared free of income tax: The report was
adopted.

There was a meeting of the East India Coal
Company to-day, Mr. Haymdn in the chair, at
Which the variots resolutions passed at the previous
Meeting for effecting improved clauses in the deed
of settlement were •duly confirmed;, after which
the meeting adjourned.

Intense excitement has been experienced at the
Stock Exchange to-day. The alliance between
Russia and France has created general astonish-
ment, and the markets for all descriptions of stock
are paralysed. Serious losses have been sustained,
especially in Turkish Securities and Lombardo-
Venetian Railway Shares. No less than four
failures have been already declared, and these
include members who have hitherto held a highly
respectable position in the "
_house." It, is
many years since a panic of the same
violence was witnessed, and it is expected
to continue, as the position of affairs abroad is now
most critical. Consols, after being 941, closed yes{
terday afternoon at 931 a ; they have been dealt in
to-day at 91t A, and frequent fluctuation has sincq
taken place. The latest quotation is 911 92 for
money and account. The New Threes have declined
to 901 911-, and the Reduced Annuities to 901 ;
Exchequer Bills are flat at 30s. to 355. premium..
India New Loan Scrip is marked 901- to 94, show-
ing a discount of 43- to 31 per cent.
A very moderate business is recorded in Foreign
Securities, and prices in most instances show d
further considerable decline, Turkish 6 per Cents.
being 70 to 75 ; ditto New, 60 to 65 ; Austrian 5.
per Cents. have receded 18 per cent., viz., to 45 ;
Spanish Deferred to 26 and 27; Mexican, to 174
181; Russian 41 per Cents. to 94 ; and Sardinian
671; Brazilian 41 per Cents. are rather firmer at
93 ; and Venezuelan Deferred at 16.
A further important decline has taken place in
the Railway Share Market to-day. The heaviness
in the Consol Market, with the preparations for
the settlement of the half-monthly account, having
caused a depreciation of about 2 to 3 per cent. on
most of the principal lines. London and Blackwall
have receded £1 ; Eastern Counties, Lancashire and
Yorkshire, and North Eastern (Berwick), £1 10s. ;
North Eastern (York), £2 ; Great Western, North
Western, and South Eastern, £2 155.; Caledonians,
£3 ; and Micllancl. and. North British, £3 10s.
The Foreign lines were neglected, with the excep-
tion of Lombardo-Venetian, which have receded
about 2to 3 per cent. The.. Old Shares are dealt
in at 5 to 51 and.sl„ and the New at 41, 5, and 51.
In the Colonial Market the dealings were
limited, but prices finally sympathised with the
downward movement in the English market. Great
Western of Canada receded 10s. ; Grand Trunk of=
Canada, 10s. to 15s. ; and East Indian, £2 to £3.
Joint Stock Bank and Miscellaneous Shares have
been at almost nominal rates ; the few bargains
reported, however, are at considerably reduced
rates. London Chartered of Australia brought 21 ;
London Joint Stock, 31.1-.; New South Wales, 471 ;
and Atlantis Telegraph were dealt in at 200.

PRICES OF FOREIGN FUNDS AT ONE O'CLOCK.
3 Per Cent. Reduced Annuities sot 1 901 111 901
3 per Cent. Consols Annuities
New 3 per Cent. Annuities
Lon— 0-. Annuities, expire sth Jan., 1860....
Ditto 30 Years, expire sth April, 1885.. 17 11-16
India stock
Ditto Loan Scrip
Ditto Bonds, £l,OOO
Ditto under £l,OOO
5 6 d
Consols forActcount (May 5) 9ll 1 21 11 1
March. June.
Exchequer Bills, £l,OOO, 2d. & lid.. 30 5 1
BRITISH FUNDS THIS DAY AT ONE O'CLOCK
Brazilian 5 per Cent. , ........
Ditto 1868, 4i per Cent.
Grenada New Active, 'Si per uota:
Ditto Deferred
1
Mexican 3 per Cent
Russian, 1822, £ St., 5 per Cent —
Ditto 41 per Cent.
Sardinian, 5 per Cent. 673/4
Spanish 3 per Cent. ....
Ditto New Deferred, 3 per Cent. 26 7
Turkish 6 per Cent 7O 69
Ditto Account
Venezuelan 5 per Cent.
Ditto Deferred .... .
Dividends on the above payable in London.
Austrian, 10 Fl, 5 per Cent.
• TWO O'CLOCK.
Consols, Money ................ 91k 2
Consols for Account (May 5) .... 91fr 2

91f 90f

THE CONFIRMATION AND PROBATE Act—An
Act was passed on the day of the Prorogation to amend
the Confirmation and Probate Act of last year. All per-
sons and corporations who, in. reliance on any instrument
purporting to be a confirmation granted under the Con-
nrmation. and Probate Act, 1858 ; and all persons and cor-
porations who, in reliance upon any such instrument,
sealed under the authority of the Act with the seal of the
Principal Court of Probate in England, or of the Court of
Probate in Dublin, &e., have made payment, or make or
permit any payment on such confirmation, probate, or
letters of administration, are to be indemnified and pro-
tected in so doing, notwithstanding any defect or circum-
stance whatsoever affecting. the validity of such confirma-
tion, probate. or letters of administration.
PRICE OF GOLD.—The quotation of gold at Paris
is about at par, and the shortexchange on London is 25.071
Per £1 sterhng. On comparing these rates with the Eng-
lish Mint price of £3 17s. 100. per ounce for standard golds
it appears that gold is nearly 4-10ths per cent. dearer in
Paris than in London. By advices from Hamburg the
Price of gold is 422 f per mark, and the short exchange on
London -is 13.3 per £1 sterling. Standard gold at the
English Mint price is therefore about 3-10ths per cent.
dearer in Hamburg than in London. The course of ex-
change at New York on London for bills at 60 days' sight
is about 1091 10 per cent., which, when compared with the
Mint par between the two countries, shows that the ex:-
change is slighly in favour of England ; and, after making
allowance for charges of transport and difference of inte-
rest, the present rate leaves a trifling profit on the impor •
tatiou of gold from the 'United States.