The Sun.
London, England, 1857-09-28 00:00:00

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COMMEM,OTAL M1TELT..,D17,40-
.

CITY, Two O'CLOCK.

The Liverpool Cotton Market on Saturday was
very quie', and closed without any al'eration in
prices. The sales were es"ima.ted at 5,000 bales,
1,000. of vv-hich were t tken on speculation. The
Railway Share Market was quiet, and prices were
a shade lower than on Friday.

Business in th 3 textile manufacturing districts
continues quiet, and the American failures have
occasioned some depression. The Staffordshire
iron trade remains steady.

The advices received this morning by the steamer
Asia, from New York, are decidedly more cheering
the panic and its effects having partially subsided.
The rates charged for discount accommodation were
still high, ranging from 15 to 30 per cent., accord-
ing to the character of the paper, but the banks
were strengthening their position, and there was
every probabilijy of an early rerun of confidence.
The "City Banks," in the last general return,
showed a reduction in the amount of outstanding
loans and discounts of about 450,0001., and there
was an increase in the specie to the extent of
nearly 400, 000/.

The money market remains in a very steady
position, and notwithstanding the approach of the
4th of the month when, as usual, heavy payments
in commercial account have to wade, there is no
increase of pressure, and at the current charge of
51 per cent. the best description of bills are easily
negotiated. There is a good supply, as the liberal
terms offered by the banks and discount brokers
for. deposits bring a large amount of capital into
circulation. The activity of trade, as demonstrated
by the official returns issued on Saturday, will
explain why the inquiry is so continuous,
for although the Indian mutiny and the de-
pression iu the United States may affect
certain departments, others improve and thus full
employment is found for available means, and an
accumulation, which would result in lower terms,
is prevented. The high prices of the raw materials,
such as cotton, wool, and silk, also lead to a greater
absorption of cash, but all things considered, the
condition of our commerce with all parts of the
world, is an unqualified source of congratulation.
When 52 per cent. as the minimum had been esta-
blished some months, people began to talk of financial
and commercial distress, failures in rapid succession
were predicted, and increased restrictions were
held to be imminent ; but owing to the pru-
dent policy pursued by manufacturers, retailers,
exporters, &c., these adverse contingencies have
not only been averted, but trade continues
sound, and little complaint is made about unremu-
nerative profits. During the next few days
the applications for discounts will no doubt become
more numerovH, because preparz.tion.s for the ship-
ment of silver on the 4th, as well as the bills falling
duo at the same time, will be in progress, but addi-
tional stringency is not generally apprehended.
Last week the imports of specie were about
261,5591., and the exports, 803,7291.
About 245,0001. in Australian gold has been re-
ceived to-day, viz., 45,0001. by the Nourmahul
from New South Wales, and 200,7841. by the
True Briton from Victoria.

The meeting of the London and Virginia Gad
Mining Company, appointed for to day, was again
adjourned in consequence of the report not having
arrived.

The English Funds at the commencement of
business, this morning presented a dull but steady
appearance. Soon afterward, a large sale of money
stock was made and a slight decline ensued, and
since then it has been rumoured that unfavourable
news from India has been received and the Funds
are now nearly per cent, lower than on Saturday.
Nothing definite has yet transpired, but official in-
formation is looked for every moment. At pre-
sent, the various statements circulated in Stock
Exchange circles are all more or less doubted, but
as the mail is due, it is generally believed that the
Government have received their telegraphic coin-
Munication. Consols for money ffiow 9Q to onl
. Ltivuey, it .1.4. tate ac-
count, they have receded to 89,71 90 ; Exchequer
131/1 is are 10s. to63.discount,andthe Bonds ara 981.
Business in the Foreign Stook market is very
inactive, and prices are flat. Mexican have de-
clined to 21a- a. Spanidi are 404, arid Turkish 6
per Cents. realised at one time 94;-,T-, 95, but are now
quoted 94 a -

The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 5 6 ; Mexi-
can, 21i ; Peruvian 4 per Cents., 78i 79i ;
ditto 3 per Cents., 55 56 ; Portuguese 3 per Cents.,
441 45 ; Russian 5 per Cents., 109 111 ; ditto
411 per Cents., 97 99 ; Spanish 3 per Cents., 40i ;
ditto Deferred, 25i 1; ditto Certificates, 51 6 ;
ditto Passive, 5/ 6.

The Railway Share Market has been very in-
active, and prices exhibit a further downward ten-
dency. Caledonians have receded ss. Edinburgh,
Perth, and Dundee, ss. Great Northern, 10s.
Lancashire and Yorkshire ss. Midland ss. North-
Eastern, Berwick ss. , and North-Eastern, York 103.
The Foreign undertaking", are neglected. Great
Luxembourg, Lombardo-Venetian, and Sambre
and Meuse realised former values. In the Colonial
lines prices were rather lower. East Indian de-
clined 15s. and Grand Trunk of
,Canada, 10s.
Great Western of Canaia, were dealt inat 20g, and
the New Shares at 10i.