The Sun.
London, England, 1859-01-12 00:00:00

1101, _EY MARKET AND CITY NEWS,

CITY, Two o'CLocK.
Notwithstanding the large amount required for
the payment of loan instalments, and other engage-
ments connected with joint-stock enterprise, the
Money Market still exhibits indications of easiness
and abundance. Since the disbursements at the end
of the year were provided for, the demand has
abated, which, together with the distribution of the
dividends at the Bank of England, has restored the
market to the favourable position it exhibited during
the autumn. Amidst the excitement caused by the
state of politics on the Continent, this favourable
change has attracted comparatively little attention,
and it has altogether failed in giving support to the
value of public securities, which, both in Paris and
in London, have undergone a serious depreciation.
Should affairs abroad continue unsettled,
the contemplated loans for Russia, Sardinia, and
other borrowing States, will necessarily be deferred,
but as this relief would not compensate for the
'unfavourable effect that might be produced by
hostilities, it forms a very unimportant feature in
connection with monetary prospects. First class
bills are now negotiable under the Bank of Eng-
land minimum, and at the Stock Exchange loans
are offered on extremely low terms, notwithstand-
ins the liquidation of the account in Consols, which
has made very satisfactory progress.
Letters from Liverpool state that the Cotton
Market yesterday continued quiet, and prices were
depressed. • The sales amounted to between 4,000
and 5,000 bales. The Railway Share Market
closed with a very dull appearance, and quotations
Were considerably lower.
A special meeting of the Netherlands Land En-
closure Company took place to-day for considering
the new agreement made with the Dutch Govern-
lucid. Mr. Bidder took the chair. The company
is relieved by this compact from all further prose-
cution of the canal works, and other liabilities, by
Which £200,000 would be saved to the shareholders.
Some allusion was made by Mr. Borradaile to the
Past misfortunes and gloomy future of the com-
pany, but the report was adopted.
The markets for Stocks and Shares are still kept
14 II 1 an unsettled state, owing to the fluctuations on
'43 Paris Bourse and the continued excitement
te_sulting from the unfavourable position of political
atrairs• At the commencement of business the
genotations showed increased depression in con-
;el:lice of the decline on the Paris Bourse
cenrauY, which at the close exceeded 2. per
Whic A few purchases were then effected,
the h led to a temporary recovery, and if
-worrst telegram from the Bourse had reported
firmness the Funds would have, no doubt,
:sen;llled a buoyant appearance. A fresh fall of 50
one tones, however, was announced shortly after
o'clock, and since then a species of panic has
l'ecl• The quotations of all classes of securities
so ire receded, and sales have been pressed to
tolue extent. Consols for 'money, after declining
„„ 94t1 have recovered to 941 95. For the ac-
iunt rallied from. 941 to 951 owing to
blivestruents by a large • joint stock bank,
but they have since reacted to 95. and 95k.
bank Stock is 226 to 227. The New Threes are
v; 71-, and the Reduced Annuities, 95%,1 1. The
tarell Exchequer Bills, 40s. to 435., prem. ; June
iltto, 38s. to 435. prem. ; and the Bonds receded to
;904-• India Stock is marked 2221 to 2241; and
ditto Loan Debentures, 99!. Long Annuities
are 181.