The Sun.
London, England, 1859-01-27 00:00:00

MONEY MARICET AND CITY NEWS.

CITY, Two o'CLocK.

The money market still exhibits a very easy and
quiet appearance, owing to the increased supplies
and the temporary diminution in the demand. At
such intervals the moneyed firms seem willing
to negotiate commercial bills at lower rates,
and by charging or 2 per cent. less, they
are enabled to attract a large proportion
of business which otherwise would be taken
to the Bank of England. Notwithstanding
the prospect of new foreign loans, the enlarged
exportation of silver to the East, and the gradual
expansion of trade, an opinion is entertained in
some quarters that the rate of discount will yet
ree3de to 2 per cent. before any permanent re-
action is experienced in financial affairs. The
market took a similar course after the crisis of 1847,
and this probably has given rise to the expectation
of a corresponding movement on the present occa-
sion. Everything will, of course, depend upon the
requirements of trade, and the extent to which
foreign loans may be encouraged by the investing
public.

In the Liverpool Cotton Market yesterday a
Very moderate amount of business was transacted,
and prices of all descriptions were unaltered. The
sales were estimated at 7,000 bales. The Railway
Share Market closed steadily, and prices tended
downwards.
Most of the Joint Stock Banks have no* held
their half-yearly meetings, and the results have
proved more satisfactory than could have been
anticipated. Many of the establishments have been
only a short time in operation, yet they have returned
dividends which ought to satisfy even the most
sanguine shareholders, more especially as trade
during the past year was conducted on a compara-
tively limited scale. The attention of the public
will now be more particularly directed to the half-
yearly
meetings of the various railway corn-
Panics, and already numerous estimates are
circulated of the probable returns of the
Principal lines. There is reason to believe that in
many instances these will be of a satisfactory
character, for the traffic during the last six
months has considerably improved, while great
economy is presumed to have been exer-
cised in the management of the various
undertakings. It is satisfactory to notice
that the weekly earnings of the principal
lines continue to improve, and, from the general
expansion of trade, it is anticipated that the results
of the current half-year will prove even more satis-
factory than those of the last six months.
There has been a firmer market to-day for Public
°eenrities, but the transactions have again been on
.vcrY moderate scale, because the speculators are
(tobtful whether the improvement reported yes-
terday on the Paris Bourse will be maintained.
Consols
are now about 95-a Z- for money and account,
Bankthere is scarcely any business in progress.
",°,anic Stock has declined to 227. The New' 3 per
ents, and the Reduced are marked 961 The
June Exchequer Bills are 365., and the Bonds are
lops India Loan Debentures are depressed at
99
and the Bonds 245. prem.
Increased buoyancy has been apparent in Foreign
Securities, and quotations are in some instances
rather firmer. Turkish 6 per Cents. are 901- 911 ;
G° Scrip, first issue, is 781 79 ; ditto, second issue.
s=l 6 dis• ; and Chilian Scrip, 2 to 1 dis. ; Russian
Per Cents. are 1131 • ditto 41 per Cents., 100 ;
,
Sardinian 5 per Cents, 841; 851 ; Portuguese 3 per
Cents., 47 ; Brazilian 5 per Cents., 103 ; ditto 4
Per Cents., 941; 1; and Mexican 3 per Cents., 191

to this
last week's railway receipts, ascertained up
L" this day, are in round figures as under :

1858. 1859.
North-western
Western ' 25,851 26,882
"c,
ern orth-Western 60,303 55,133
Nuth West
t • -
Sril, ghton
tidland
').4t11--Eastern
, Great Northern
rtleashire and Yorkshire
,Ow -.,
iviltriftstatuotl:antscdasteEhinizreeter. .
5,093 4,913
6,309 5,207
Isioarnthehesstteaffro,_,Sheffield, and Lincoln
6,876 6,068
3 812
radElinrdbu'ragfeti:nediei,,wandWolverhampton 4,126
51;420451
511,019149
Grand Trunk of 0 . Glasgowa
Great Western of Canada.' ...
' 5,199 8,212
b _ In the Railway Share Market a rather active
husiness has been done, but most of the transactions
Dan.", been in connection with the arrangements
erstirelrprogress for the settlement of the account.
and Holyhead, Great Northern, Great
western, North British, and North Eastern (Ber-
wick),l improved ss.
,and Caledonian and Midland
"s• ; Brighton and North Western have declined
v"l3. ; and- Lancashire and Yorkshire, 15s. The
°reign and Colonial undertakings have also
shown a slight upward tendency. Paris and Lyons
advanced ss. ; Northern of France, 10s. ; Grand
k
Tru .sr
ut Canada £1 ; and East Indian, 10s.
Joint-Stock Bank and Miscellaneous Shares have
been at lower quotations. Bank of Australasia
declined 155.; London and Westininster, ss. ;
Union of Australia improved / ; Peninsular and
Oriental Steam brought 821,
BR"

ktITISH FUNDS THIS DAY AT ONE O'CLOCK
sank Stock
3 per Cent. Reduced Annuities........ 227
3 per Cent. Consols Annuities
New 3 per Cent. Annuities 964
Long Annuities, expire sth Jan., 1860 — 4-
Ditto 30 Years, expire sth Apr., 1885 lBl
India Stock
Ditto Debentures 991 4
Ditto Bonds, £l,OOO
Ditto under £l,OOO
Consols for Account
Exchequer Bills, £l,OOO, 2d. & lid.. . March
r June.
Ditto Small, I%d.
Exchequer Bonds, 1859, 31 per Cent .... 1004
PRICES OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian 5 per Cent.
Ditto 1858, 44 per Cent. 941 4
Mexican 3 per Cent.
1)
Ditto Account
„°llll;,,rnese, 1853, 3 per Cent.
nussian, 1822, £ St., 5 per Cent 1134
Ditto 44 per Cent.
Sardinian, 5 per Cent B5 44
Ditto Account
Turkish 6 per Cent. 91% 90/ 11
, 4 4
Ditto New Loan
Ditto 2d Issue
Ditto Account
Dividends on the above payable in London.
TWO O'CLOCK.
Consols, Money 9sa 1
Consols for Account, Feb. 8 954 4

Mr. Bentley will publish, almost immediately, in
one vol., Life of Charles James Fox," by Lord John
Russell.

EAST WORCESTERSHIRE ELECTION,--We under-
stand that Mr. Pakington, son of the First Lord of the
Admiralty, has consented to stand for East Worcestershire
on the Conservative interest.

Denis Shea, charged with being a member of the
phoenix Club, has been discharged from the gaol of Cork
by a special order from Dublin Castle.
A French political offender, exiled to Cayenne,
who escaped six months ago, was on Saturday arrested in
a coffeehouse at Brussels, on the charge of bearing a false
name.

thterl any by the council of militaryunder
enext examination for direct commissions in
education the
presidency of Major-General Cannon, Major-General Port-
lock, and the other members of the council, takes place 01?
the 7th proximo and four successive days, at Burlingtoll
house, Piccadilly.
SIR E. B. LITTON.--The mainspring of his
career is ambition. He was early smitten with the passion
to excel, the unconquerable desire to make a great name
and position for himself in the world. But his ambition
was not of a narrow, selfish kind—the mere lust of power
and desire to rule ; it was the more generous ambition of
the scholar and the statesman, the philosopher and the
was res
poet, as
olv itsed wor
to king throughout sufficiently proves. He
become great, to distinguish himself
amongst his fellows by wise words and noble works. But
he early recognised the truth that greatness can only be
obtained by breadth and force of intellect ; and exercise
being the condition of strength, ho devoted himself with
quenchless ardour to the cultivation and development of
his mental powers. And the notion of culture he formed
on leaving college, and which he has preserved faithfully
in the main ever since, is a catholic and true one. In order
to secure depth and harmony of mental power, he deter-
mined to devote himself to a life of blended thought and
action, and this determination is the germ of his literary
and political career. In one of his vacation rambles while
at Cambridge first eamt the dream of authorship on
t.,he banks of Windermere, and before leaving college the
'ream became a reality. On the other hands, he distin-
gu
himself as a speaker in the political club of the
n and was elected president of that undergraduate
parliament. He seems, however, to have been a better
Writer than speaker, and literature at this time had greater
charms for him than politics. Nevertheless he did not lose
sight of the hope inspired by his ambition of distinguishing
"°lself in Parliament, and eventually taking part in. the
go'vernMent of the country.—Literary Gazette.