The Sun.
London, England, 1861-07-22 00:00:00

XOYET MARKET AND CITY NEWS.

CITY, Two o'CLocK.
From the re.inufacturing districts the accounts
during the past week have been of a more satisfac-
tory character. The dealings in cloths at Manchcs-
ter have been to a fair extent, chiefly, however, for
home use. The woollen trade at Leeds, Halifax, s
Huddersfield, and Bradford has shown symptoms
of improvement, and a tolerable amount of business
has been done in worsted hosiery at Leicester. In
the hardware districts, viz., at Birmingham, Shef-
field, and Wolverhampton, trade generally has

remained very quiet in all departments.
Continued activity prevailed in the the Liverpool
Cotton market on Saturday, and prices were very ~
stim
firm. The sales were fully 15,000 bales. goo
A further supply of gold, viz., £119,000, was sent ste,,l„
into the Bank of England on Saturday. stoc 25
l
At the forthcoming meeting of the English, Btoci
Scottish, and Australian Chartered Bank proprie- 81
tors, a dividend at the rate of 6 per cent. for the stoctooi
sl
half-year will be proposed. to
The half-yearly meeting of the Bank of Austra- stool
lasia will take place on the 19th proximo. sttoocci
There is very little inquiry for 'discount accom- semi
iodation, either in commercial circles or at the
12
steel
Stock Exchange, and accommodation is obtainable stocl
on lower terms than for some time past. stock
Trade being exceedingly dull, the demand :tomer,
for money on mercantile account is pro- stoo
Partionately restricted, and although symptoms g
of improvement are perceptible in certain depart- stt
runts of business, some time is expected to elapse 14
before any great expansion can be experienced. stool
In the meantime, the money market is likely to :i04c.(1
assume an easier appearance, if the specie move- 5o
went should improve and the weather continue
to ,5
favourable for the growing crops. 100
The Agincourt has arrived from Melbourne with lc
2L
tbo'- • 8.0,000 in gold. atm,

about .£l. _ g_--
A recovery, amounting to per cent. has taken i
stool
place in the Market for Public Securities to-day, Bstger
Owing to several purchases, mostly on speculative .to,
account. Consols have improved to 8 9 for stoc,
transfer, and S 9 90 for the account. The advices m2oc
a
from America have created a favourable impres- stt°(
sion. The New Threes and the Reduced are firm 7
at 89: t ; India Stock is flat at 219 ; ditto New
st‘
19.;
Loan Scrip is 1001 ; Exchequer Bills, March,
are 10s. to ss. dis. ; and ditto June, 3s. dis.
Business in the Foreign Market has been mode-
rately active, and prices have been tolerably well 81;
supported. Turkish 6 per Cents. are 79 to 791 ; st
ditto, 1858, 661 to 67 ; ditto £lOO Bonds remain atet
681 and Sardinian at 781. Spanish are firmer at
et
481- t, and Dutch 21 per Cents. at 631 64. st,
The operations in the Railway Share Market st!
have been on a limited scale, and prices have not
shown any material alteration. Caledonian, Great
Western, Lancashire and Yorkshire, North-
:41:
-Eastern (Berwiek), and South-Eastern advanced
as. ; and Midland and North British declined ss.
The Foreign and Colonial lines have remained et,
dull, at barely former quotations. South Austrian
Great to:
and Lombardo-Venetian brought 15a I,
Indian Peninsula 95,1- 951, and Bombay and Baroda
declined to 941.
Joint Stock Bank and Miscellaneous shares con- st
tinned very inactive at previous quotations. Crystal .1
im roved about ss.
Palace Stock, however, p

BRITISH FUNDS—ONE O'CLOCK.
' Cent. Reduced Annuities
0 per ~. ,
3 per Cent. zions...is Annuities
Now 3 per Cent. Lthnuities B9 d a
India Stock. ...... , ...
991
Ditto 6 per Cent. ..............
Ditto Loan Scrip, 5 per cent .. lOO i 1
Ditto Debentures, 4 per Cent., Oct. 1863
Ditto ditto April, 1864 961
Ditto Bonds £l,000
Ditto under £l,000
cousols for Account, Aug. 7 .. 892 I
India Stock for Account
991
Ditto 6 per Cent
March. June
Exchequer Bills, £l,OOO, 2d 9 10 dis 3 dis
Ditto £5OO -
Ditto Small
FOREIGN FUNDS—ONE O'CLOCK.
Brazilian 5 per Cent
Ditto 4? per Cent., 1860 B7k
Peruvian-41,- per Cent —
Ditto (Uribarren), 41 per Cent.
Russian 5 per Cent. 18'22, £ St • •
Ditto 41 per Cent.
90
_..__ __

Jit _
Ditto 4i per Cent. 1860 ..
Sardinian. a per Cent.
8
Ditto Account
Spanish 3 per Cent.
48
Ditto Account •
! i
Turkish 6 per Cent -
Ditto Account
Ditto Now Loan
Ditto Account
Ditto £lOO Bonds
Dividends on the above payable in London.
Mitch 2± per Cent., Exchange 12 Guil.
TWO O'CLOCK.
Consols, Money B9l -110
Ditto Account B9± 9

FRENCH BAILWAY OBLIGATIONS,

It appears that the tenders for the new issue of
£6,000,000 French railway obligations have sf,
amounted to about 194,000,000 and that as st
£2,300,000 of the total to be allotted is to be given Batt
to exclusive establishments, whose subscriptions st
cannot be reduced, there is but £3,700;000 for pro- et
rata distribution among the remainder—a sum
which will enable each applicant to have only about st
4 per cent:of the amount asked; This opera- st
tiota is officially described as a great success, which t
furnishes an imposing manifestation of the power of
the country and a proof of the confidence which the
Government of the Emperor inspires. If the French
people or French statesmen can persuade themselves at
to such an inference, there is no occasion for any st(
outside observers to disturb the simplicity of the fit,
illusion. But, unfortunately, there are persons,
23'
even in England, and especially in high places, so
little versed in practicaliiit finance as likely also st;
to be led away
simply analogous tyo that Tffhoer throwingprocessb
acertain however,e st.
of money to be scrambled°
mayka mob. The Go-
vernment having resolved to;
make
price at which it would sureeft tluoaene,mcmalcaunldatae
premium, and offer it, or a certain portion
of
it, at st
this price, pro rata, to all who will apply sendand
in a preliminary deposit. As the stock is market- at.
at 2or 3 per cent. premium for several days st 4
before the date for closing the subscription lists, the
at 4
number of applicants is, of course, simply limited to 8.11
the number who can rake up or borrow enough
money to pay the deposit on the amount they ask
.for, and the result is that tis vast multassiitude, after
an. their pains, get a ridicuhlous fraction gned to
them, the profit of which, in the great majorit of
cases, would form but a poor payment for their loss'
of time. The affair in its effect is exactly as if the
Govornment were to announce that they would issue
a million of francs to be divided at the rate of 102 f.
among all who would make tenders. It has cap-
tivated some persons as if it were a wonderful dis-
covery, but it involves loss to the Government and
demoralisation to the people. Loans under such
circumstances are always issued at
lar a price below
ntractors,
that which would begiven by regu co
the proper business of the nation at the same time
suffers from the excitement, banking disturbance,
and waste of time consequent upmnllionso the public
making deposits upon a hundred i
there are only three or four millions of securities
to be disposed of, and individuals, from the lowest
to the highest, are all encouraged into the arena of
stockjobbing, and taught that it is in this sphere,
rather than by steady attention to their legitimate
avocations, that they can best distinguish them-
selves as good citizens. It may be questioned if
among the engines which can tend to corrupt a
country any could be found more potent than this
system of offering bribes to the populace from the
Bourse.

A Vienna letter of the 16th says:—" Severa.
drafts of answers to the Address have
anxiously
been sub-
mitted to the Emperor, and all Vienna
awaits the resolution to be taken. All that is posi-
tively known is that two Hungarian Chancellors
have determined on resigning at once if their drafts,
in which they recapitulate all the stipulated ancient
and historical rights of the Magyar nation, should
not be accepted by the chief of the State. It is also
certain, on the other hand, that all the members of
the Imperial Government, with the Archduke Reg-
nier at their head,i have unanimously resolved to
retiro from office, if the bases of
20th October, and the. fundamental law of 26th of
February, are not decidedly applied to the national
representation of Hungary."
FIRE IN CLERIENWELE.—Yesterday evening a
fire, attended with a serious destruction of property, broke
out in the premises of Mr. John Dawson Ashworth, iron
and brass founder, and Messrs. Whitmee and Co., steel mill
makers, 11, Ray-street, Clerkenwell, near the Sessions.
house. The fire originated, from some unexplained cause,
in the first floor, used as the factory, and, when discovered,
had obtained such a firm hold as to endanger the neighbour.
ing premises. Engines were soon on the spot, and there
was a good supply of water, but the flames not extinguished
until Mr. Ashworth's and Messrs. Whitmee's premises
The loss will fall upon the Sun
were partially consume.
1J0A914 FrO-OitiCES-