The Sun.
London, England, 1857-06-23 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocx.
rLetters from Liverpool state that the Cotton
Market yesterday closed with an upward ten-
dency, at an advance in prices for most descriptions.
The sales were estimated at 8,000 bales, 2,000 of
which were taken for export, and on speculation.
The Railway Share Market manifested a dull ap-
pearance, and prices were a shade lower for all the
leading stocks.
The Committee of the Stock Exchange have ap-
pointed the 26th June as the settling day for the
shares of the Levant Mineral Company, and deal-
ings in them are to be recorded in the official lists.
The Foreign and Colonial Produce Market have
opened this week with a quiet but steady appear-
ance. Privately the operations already effected
have been limited, but large public sales of some
of the principal staples are advertised. The supply
of Sugar will be rather extensive, and prices appear
heavy. Coffee is firm, at full rates, and Tea is dull,
but steady. In other articles there is no particular
variation. Messrs. Smith and Charles's " Tallow
Circular," dated last evening, states as follows :

" The tallow market again advanced in the course of
last week, chiefly for early delivery, in consequence of
the state of the June account. Fur other periods we had
no movement until Saturday, when, towards the close,
there was more disposition to buy both July to Sept.,
Oct., and Dec. By advices by telegraph from Retz 180
Re. is paid for August delivery. Our market has to-
day improved all round, and we leave off—Spot and all
June, 624. ; July and Sept., 58s. 3d. to 58s. 6d. ; sepa-
rately, 58s. 6d,"
The probability of an immediate reduction in
the rate of discount by the Bank of France is still
discussed at Paris, and many well informed per-
sons predict that the alteration will be made next
Thursday. The position of the establishment it is
presumed, would fully justify a modification of the
existing onerous terms, but there are some who
consider that a further slight delay should take
place in order that the precise tendency of financial
affairs may be more accurately determined. Unless
there is some unfavourable movement with which
the general public are unacquainted, the Bank will
certainly take the earlier opportunity afforded
by its actual situation to relieve the com-
merce of the country from at least a por-
tion of those burdens which for months past
exercised such a depressive influence upon all
branches of trade. A reduction of 1 per Cent.
would be attended by very beneficial results ; and
when the issue of 50 franc notes takes place, a
general improvement will no doubt ensue, espe-
cially if any undue extension of speculative enter-
prise is resisted. A disposition evidently exists
to promote fresh joint stock adventure, but if the
evil is carried too far measures will no doubt be
taken, as on former occasions, to restrain this
species of speculation.

The annual meeting of the South Australian
Banking Company was hold to-day, at which a
favourable report was read, showing the net profits
of the year to have been 41,082/. Is. Bd., from which
the directors recommended a dividend at the rate
of 12 per cent. per annum. The report was satis-
factory as to the general state of the colony, and
the mining interest was looking more prosperous.
A branch had been opened at Port Adelaide. The
report was agreed to, and a resolution was passed
for the purpose of raising the capital from 300,0001.
to 400,0001., the authority of the Treasury having
been obtained for that purpose.

Thero is a moderate demand for money in Lom-
bard-street, but with a freedom from pressure, the
wants of the commercial public being readily sup-
plied. Six per cent is in all cases demanded, and
hence the applications at the Bank are well main-
tained.