The Sun.
London, England, 1857-11-12 00:00:00

MONEY MARKET

A ND

COM IYIEECIAL INTELLIGENCE.

CITY, Two o'CLocE.

Letters from Liverpool report that the Cotton
Market yesterday closed with a dull appearance, and
values of all descriptions were fully -id. per lb.
lower. The sales were estimated at 2,000 bales.
The Railway Share Market manifested more firm-
ness, but prices were without any material
alteration.

The stoppage of the City of Glasgow Bank, and
the run upon the other establishments has rendered
it necessary to forward a large amount of gold from
London to render them assistance. Yesterday about
800,0001. was despatched, and this being added to
the pressure previously existing has caused in-
creased anxiety. This, however, has been some-
what diminished by the knowledge that the Ewell
will arrive about the 18th inst. with 525,0001., and
that the Avon is off Plymouth with 260,0001. in
Australian gold.

The charge of 10 per cent. at the Bank of Eng-
land is purely nominal, and a very trifling amount
of paper is negotiated except on much more onerous
terms. Serious difficulties are experienced in
obtaining any accommodation at all, and
many mercantile houses of old standing and
respectability are merely kept afloat by the
efforts of bill discounters or others possess-
lug large supplies of available means. Severe
as the revulsion is, there are many who confidently
predict an easy abatement of the pressure, but before
that takes place, numerous other failures must occur.
The fact is that affairs are completely brought to a
stand, firms find themselves em barrassed although
possessing ample assets, and the result is a prostra-
tion of business. There never was such a fearful
complication of disasters, and the consequences can-
not fail to be of the most injurious description.
Of course credit is severely ;shaken, all kinds
of rumours are circulated, and no one seems in-
clined to part with his money. The great ma-
chinery of trade has been materially impeded, the
means which kept it in motion being suddenly
withheld. There is something so novel in the
existing state of things that it is impossible to form
any clear opinion as to its probable extent and
duration.

There is still t pressing demand for accommoda-
tion, and very high rates are paid for tho negocia-
ion of bills.

The Bank directors have h eld a lengthened
sitting, but no new regulation in respect to dis-
counts has been established.

It is expected that the Marseilles portion of the
Overland Mail will arrive here on the 14th, and the
correspondence via Southampton: will probably to
received on the 18th.

Silver continues flat, and until the overland mail
is delivered it is not imagined that any business of
importance will be transacted. About 148,0001.
in that metal, however, was brought by the Rhine
from Boulogne yesterday.
Accounts from Scotland state that there was a
"run" on some of the other banks, especially the
Union, but the panic was subsiding, and no fears
were entertained as to their stability. The gold
from London will render an important service.

A large amount of business has been transacted
in the market for Public Securities, but it has been
characterised by a remarkable degree of strength.
There is a difference of nearly 1 per cent, in the
prices for money and account, money being worth
12 to 15 per cent. The Government broker at.
tempted to sell stock, but was not successful to any
xreat extent. The decline has been limited to
per cent. although a large amount of stock has been
forced upon the market on real and speculative
account. The operators seem rather undecided,
especially as the Bank authorities are supposed
to be in communication with the Government.
Consols for money have been 89i and 88f a, for
the. account 89i and 891 the " contang,o" be-
ing nearly 1 per cent. ; they are mow 89 and 89/
respectively. The New Three per Cents. have been
alt in at 87i 88 and 88i ; the Reduced are
87# i• Exchequer Bills 30s. to 20s. discount ;
ibe Bonds 97 ; and India Bonds 40s. discount
Bank Stock is 2091 211, and India Stock 212. *
Business in the Foreign Stock Market has been
exceedingly inactive, and prices are lower. Turkish
6 pair Cents. are quoted 87 for money, and 87i
for the account. Mexican, 18 18} ; Peruvian 4
per Cents., 74.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 5 6 ; Mexi-
can, 18 18f ; Peruvian 73 75 ; ditto 3 per Cents.,
50 52 ; Portuguese 3 per Cents., 42i 431 ; Russian
5 per Cents., 104 106 ; ditto 4 per Cents., 95 97 ;
Spanish 3 per Cents., 40 401 ; ditto New Deferred,
25 251.

The last week's railway receipts, ascertained up
to this day, are in round figures as under :

1857. 1856.
Great Western.
North-Western
South-Western
Brighton 14,289 14,768
Midland
South-Eastern
Great Northern
Lancashire and Yorkshire 20,347 22,245
Bristol and Exeter 5,944 6,280
Chester and Holyhead
East Lancashire 5,407 6,300
Manchester, Sheffield, and Lincoln 10,734 9,803
North Stafford
North London
2,297 2,264
Oxford, Worcester, and Wolver 4,574 4, 28 1
West Hartlepool
Edinburgh and Glasgow ....... 5,788 5,638
Glasgow and South-Western
Grand Trunk of Canada
Great Western of Canada 0,806 14,671
In the Railway Share market this morning the
dealings were by no means numerous, and prices
generally had a further slightly downward ten-
dency. Caledonian, however, improved about 21.,
and North British 10s. Great Western, North-
Western, South-Western, Manchester, Sheffield,
and Lincoln, and North-Eastern (Berwick) declined
10a.; Eastern Counties, Lancashire and Yorkshire,
and South-Eastern, 1/. ; and Bristol and Exeter,
1/. 10s. The Foreign lines are very quiet, and
the Colonial were dealt in to a moderate extent.
Northern of France have receded about Ss.; Grand
Trunk of Canada have declined 10s. ; and Great
Western of Canada, and East Indian aro steady at
previous quotations.

Mining Shares are flat. Alfred Consols have de-
clined to 17k. Great Wheal Alfreds are 5, and
Linares realised Bf.

In Joint-Stock Bank and Miscellaneous Shares
there is little change to report. British North
American advanced 1/. Ottoman Bank declined
55. Australian Agricultural shares rather im-
proved, but National Discount Company, and
London General Omnibus Company were a shade
lower.

BR rrisri FUNDS.—CLOSING PRICES—THIS DAY.
(.From the Official Lig:)
Ettisineen done.
Sank Stock
21 94
8 per Cent. Reduced Ammittee
3 per Cent. Consols Annuities
NeNt 3 per Cent. Annuities
Long Annuities,
expire sth Jan. 1860 ...... 111-16

India Stock 212
Irvin, Bonds, -ClOOO
nitto, under £lOOO 4O d
1 a 1i a
Coi. sols tnr Account . .
210
India Stock for Account
Ex ~ Bills, 25d.
£lOOO ...
-g560 2O 35 d
8 ~all 2O 35 30 d
Exchequer Bonds, 1858, 31 per Cont 9Bl 8
Ditto, 1859
PRICES OF FOREIGN FUNDS—THIS DAY.
Mexican 3 per Cent --
Ditto Account
Peruvian Bonds, 41 per Cont Ditto Account 2
Russian Bonds, 182;•••i...••• ... ~.5
*per Cont
Ditto, 4i per Cool' •
Turkish l',onds, ti por . *************
Ditto Account . cent, ******************** 87
• ....
oi tto Guaranteed, 4 per '''' . .-
87
61
71
Ditto Account .... Cant,
........... ...... .....
Dividends on the abovie2P Guild .le.: in L96oncl
Dutch Exchange, 2,, per Cen;;.,
rs 64 3'.
.
Do, 4 per Cent. Certificates
.......... '
96i
-:-.-.
711IRRE O'CLoOK
88i !•`:

Con iAs, znoney
Ditto account (December 7)

The workmen who have been for some time past em-
ployed in repairing the church of the Assumption, iu the
Rue St. Honore, are now dray: ing towards the close of
their labours. The building is before long to be re-opened
for Public worship.