The Sun.
London, England, 1857-02-02 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
Advices from Liverpool state that the Cotton
Market on Saturday closed quietly, and prices of
Egyptians were id. dearer, but all other kinds
were unchanged from Friday's currency. The
sales were 7,000 bales. The Railway Share
Market was quiet, and prices were generally
steady.
The condition of the Money Market during the
past month is thus described in the Bankers' Ma-
gazine :—There has been little amelioration in the
position of general financial affairs. The relief
afforded by the payment of the dividends and the
arrival of Australian gold has been wholly tem-
porary, and a revived demand has again been ap-
parent, which, it is feared, may eventually lead to
an increase in the rate of discount by the Bank
Directors. The present minimum of 6 per cont. is
comparatively high, as they have augmented the
terms for advances on stock to 64 per cent. If
the present pressure should continue they will
be obliged to adopt additional restrictions with
reference to the negotiation of mercantile paper.
For the last week it has been expected that such
a movement would be announced, but the gold
withdrawn to supply the requirements of the
Irish banks during the late partial panic having
returned, it has assisted to support the metallic
reserve. As, however, the drain for export
to the Continent has set in in renewed severity
and the remittances from Australia and
Atherica are not at this period extensive, an
apprehension is entertained that not only may
the stock of bullion be further trenched upon,
but that the supplies themselves from these
sources will be purchased and sent to
Paris. Under such circumstances the Directors
cannot follow any other policy, but it is to be
hoped that the inquiry will not be maintained at a
level which will either distress commerce or inter-
fere with the prosperity which it was supposed
would be initiated by peace. The discount houses
find ample employment for the whole of the funds
they can command, but no further alteration has
occurred in the allowance for deposits."
The Discount Market continues vary stringent,
but there is not more than the usual pressure im-
mediately before the 4th of the month. On the
present occasion, however, as frequently before re-
marked, there are other circumstances to augment
the demand, among which the most prominent are
the approaching settlement of the qonsol account,
and the payment of called-in joint-stock companies'
shares. The full rate of 6 per cent. is charged
for the best bills, while those of a second or
third rate description are not negotiable except on
much higher terms. The brokers and bankers
are finding full employment for all the capital
they can command, but they have not in-
creased their allowance for deposits. There
is now less uneasiness with regard to the course the
Bank Directors will pursue in consequence of the
general complexion of the Bank Return, the receipt
of about 600,0001. in silver, and the expected
arrivals of gold from Australia. The drain of gold
from this country continues, as much as 60,0001.
having been taken from the Bank on Saturday,
and it is expected that further sums will leave
during the current week. Unless steady and ex-
tensive remittances from the Antipodes are received,
therefore, we may yet expect a material diminution
in the metallic reserves of Threadneedle-street ;
but affairs have not assumed such an unfavourable
aspect as to indicate an immediate alteration in
the minimum.
The Ecuatorian Coinmission of Agency received
a remittance of 1,0001. on Saturday on account of
Ecuatorian dividends.
The English Stock Market is very quiet to-day,
the arrangements connected with the settlement
of the account being now in progress. At pre-
sent, therefore, very few fresh engagements
are entered into, but sales still preponderate.
Consols, for money, have been 93 to 93i and
92 to 93, while for the sth instant they have been
94, 93, and 931. The March quotation is 93i f.
The New 3 per Cents. are 93i the Reduced 931
I, and Exchequer Bonds 98i 4. Bank Stock is
2174, India Bonds under 1,0001. are marked 3s.
discount to par.
The bargains in the Foreign Market are exceed-
ingly limited, but the prices are generally firm.
Turkish 6 per Cents. have been 921 to 93 and 931 4,
but the 4 per Cents. are merely nominal. Spanish
New Deferred are 231 4, and the Certificates are
flatter, viz., 61 to 61. Mexican Stock is 211 1, and
Guatemala Bonds have been 68 ex dividend.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 21 22 ; Mexi-
can, 214 4 ; Peruvian, 78 79 ; ditto 3 per Cents.,
544 5i ; Portuguese 3 per Cents., 43 5 ; Russian
5 per Cents., 107 9 ; ditto 4i per Cents., 95 7 ;
Spanish 3 per Cents., 40i 41 ; ditto Deferred,
234 ; ditto Certificates, 61 4 ; ditto Passive,
646.
In the Railway Share Market there is but little
change to report in prices. One or two of the
leading lines have shown a slight improvement,
but the variation has not been to any, important
extent. Caledonian, Chester and Holyhead, and
East Lancashire advanced about ss. North West-
ern, South-Western, Midland, and Great Northern
fully mr.iatained previous values. There were no
dealings reported in the IFrench lines, but Canada
ruled steady. 431-rand Trunk of Canada advanced
59., and Great Western of Canada ss.
British Mining Shares have been rather actively
dealt in, and North Frances and Wheal Edward
have realised slightly improved terms. Foreign
Mining Shares are quite at nominal values.
Joint Stock Bank Shares rule dull. Bank of
Egypt are rather firmer, as also Oriental Bank.
Miscellaneous Shares have been little inquired
for, and prices have shown no material variation
from Saturday's quotations.

RITISH FUNDS.—CLOSING PRICES-I'4lS DAY.
(-Emil the Offlesa/ List.)

Bank Stock ................... ....ez. ............ 21'77'1 gone.
3 ,u. "ut, riedllool "trinuiti
3 ~. {lent, •••nfrolp Arinsrit,,,,
.. . ' ......... 93ei
New 3 per Cent. Annuities ... ... ....... ' ..... 93 i 24 3*
India Stock ........................................ 93
in
n. ~,,,,lt,, kigulo .„ ...
..
.. ... 2lB 20
Ditto, under £lOOO ................... --
Consols ~1, ccouin.
E*(l.l6qu, 'ln , ie --- 93 2i .}
n 001............ 3 a Par
5tie11'....................... ..
..
... . . 1 p
-il22i ...... 1 p
Ditto Bonds, 1858, 30 per Cent 9Bl r',
Ditto, 1859 ....... . .
PRICES OF FOREIGN FUNDS—THIS DA.y.
Vquador New Consolidated . 110
Gnatemala Bonds, 5 per cent 5B x d
Mexican .-; per • ent ............
Ditto Account
Portuguese Bonds, 5 per Cent., Con. 1841
Ditto 1853, :Iper Cent ..................
Russia,' Rends, 1,422, i St., 5 per Cent —
Ditto, 4i per Cent.
~ .p 1,1,h .ioude, .ik per.' out . . ........... ••• • '
Ditto New Deferred, 3 per Cent.
Ditto Account .". ..."... " . 231 i
sPolish Committee Cert. of Coup. not fun. 6, i a a
Tnor
-ibil Bends, 6 per cent
Ditto Account
- Ditto Guaranteed, 4 per Cent. -
Ditto Account
!enamel% Bonds 44 per Cent
Ditto Asecant ' S74
Ditto Deferred, 10 per Cent. . .
I)4tch en N at i 1". , ..h., r r n.
Exchange 20 per Ceti-j 12 Guilders
Ditto 4 per Cent. Certificates.'

Consols, money 93
THREBO;CLOCK.
Ditto, Amount (Feb. 5.)

20
20
20

11,
EESENTATION Or COLCHESTER.--An address from
Lord John Manners, announcing his intended retire-
4ent'from the representation of this borough, was issued
te on
Saturday evening.
T iao ."MATE ON LIEUTENANT-GENERAL SIR ,NATHANIEL
111% B , K.ll. K.C.Binquest was held on
Thursdhy ast, before'Mr. Minckton, coroner, at Upcott-
house, near Taunton, the residence of General Thorn,
on the body of that gentleman, who died suddenly on
the previous day, a few hours after his return from
London. The jury returned a verdict of "Died by the
visitation of God.'' General Thor.n 'entered the army as
er',.Bign in October, 1802, and had consequently been
fifty-.five years in the service. He was made a lieutenant-
general in June, 1859, and obtained the coloneloy of the
Third Buffs in July of that year. He had been more
han fifty years in the service, and on Saturday week
Was kia,ghted by her Majesty at Windsor Castle at an
investiture of the Order of the Bath,