The Sun.
London, England, 1857-03-18 00:00:00

MONEY

MARKET

COMMERZIAL INTELLIGENCE.

CITY, Two O'CLOCK.
Letters from Liverpool mention that the:Cotton
Market yesterday closed with a hardening ten- rg;
ttency, at the extreme rates of last week. The sales
Were estimated at 5,000 bales, 750 of which were St.
taken by the ' speculators. The Railway Share 25
zarket exhibited ,a buoyant aspect, but prices 25
re
rat a slight decline. St.
'Ale public sales of foreign and colonial wool, St.
llhich commenced on the 26th ult., terminated last St.
evening. During the series, which is the first this 500
Year, 49,172 bales have been disposed of, compris- 20
.1„lig 18,744 bales of Cape, 12,312 bales Port Philip, 10
G,572 bales of Sydney, &c. The progress and re- 50
13_
reignelt of the sales are thus reviewed by Mr. H. J. St
liughee The attendance of both home and 20
lo
buyers was larger than usual, and although
prices opened at an advance of about 21d. to 3d. on 25
Australian, which was scarce, and 2d. per lb. on 25
'Cape wool, the reluctant manner in which biddings 20.
Were made evidently showed an unwillingness on 10
the part of buyers to establish so large an
advance. After about one-third of the wool had sit:.
Passed the hammer purchases were made with 10
greater caution, and, tin the announcement of a sstt..
general election, which materially interrupts busi- 10
tress, and for some time in the north, prices at once St.
gave Way, middling, low, and washy sorts declined st.
lb. Sydney
per lb., and good clean flocks about ld. per
Sydney woe;1, being much in demand and in 6
St.
small quantity, hardly suffered so much as other 12
descriptions. Several parcels of Port-Philip wool
50
0_ f the new clip arrived in time to be included in IFthese sales, ; on the average the condition is deci-
dedlY F.',ood. Some superior Cape fleece wool, II
free from burr, realised high prices,. while
°them of good quality, but infested with
this great drawback, suffered accordingly. It is
Much to be desired that greater attention be paid
to the packagas, as very large quantities in the pre-
sent sales were so shapele3s and unsightly in ap-
Pearance ra to really prejudice the sale of that which
they coutained. South American merinos were in-
quired for, and the little contained in the sales sold
Well. East India and other low descriptions sold
readily, at prices rather higher than last Liverpool
sales.

It is stated that the London and Eastern Bank-
ing Corporation is about to be dissolved. This
establishment has branches, viz., in Mark-lane,
and Westbourne-terrace, besides those at
Calcutta and Bombay. As dividends of 6 per cent.
have been paid, the Corporation was supposed to pos-
ies a very fair business, and the circumstances which
have occasioned this result, which the shareholders
did not certainly anticipate, require explanation.
It is alleged that all engagements will be liquidated,
and the accountant called in is of opinion that a
considerable portion of the subscribed capital, viz.,
250,000/., will be realised for the proprietary.
A new French Railway Company, for the con-
struction of a line in the Bordeaux district (Midi),
18 on the tapir, but the subscriptions are being pri-
vately negotiated.
A very active demand prevails to-day for dis-
count accommodation, and the tightness of the
toarket has led many to apprehend increased restric-
tions on the negotiation of mercantile paper, espe-
cially as the drain of gold to the continent is so
,taPid. The Dunbar, from New South Wales, has
sought 5,900 ounces, valued at 20,0001.
In the rates of exchange yesterday afternoon
there was no alteration of importance, but in some
instances a slight advance took place.
The quarterly meeting of the East India Corn-
Pany was held this day ; R. D. Mangles, Esq.,
M.P., took the chair. Mr. Sims brought forward
a motion for the abolition of the six clerks of the
Board of Control, as an obstruction to the efficient
government of India, and as an unnecessary ex-
pense to the revenue. He said the President of
the Board of Control was the representative of the
Government, and had now the power to nominate
Ex directors to act with the Hon. East India
Company, who could form an independent body
or Board of Control. The question led to some
discussion, but was negatived.

20
10
St.
St.
St.

The Market for English Securities is decidedly 20
firmer to-day, although the improvement is not 10
more than ft per cent. An impression is prevalent
that the China question will soon be settled, and 1-11?3
a few purchases having been effected a better
feeling is apparent, but it is not presumed that 181
any material recovery will yet take place ick
in the condition of the Money Market. Consols 100
for transfer have been 92/ to 93 and 93i, and for 100
account 931 1, and 931 A. Long Annuities are 20
marked 2i. Exchequer Bills ls. discount to 4s. E
Prem., the Bonds 98g and India ditto 2s prem. 20
Not more than half a dozen bargains were re- 17
corded up to one o'clock in the Foreign Stock 2s?
market, and since then business has remained very 20
dull. Turkish 6 per Cents., however, are firm at 100
974 98 ; Russian 5 per Cents. are worth 1071, and 20
Dutch 4 per Cents. 98i. Mexican Bonds have risen
per cent., being 24 to 24g. st.
100
The Committee of Mexican Bondholders have 20
advises from Mr. Whitehead, dated Mexico, the pi
9th ult. The terms of the treaty between Mexico 20i
and the United States, for a loan by the latter to
100
100
the former of 15,000,000 dols., at 4 per cent. inte-
-100
rest, were not made public yet ; but it was said that I( a
13 or 14 per cent. of the import duties had been as-
-20
signed for the payment of the interest, and that the 20
tonnage dues on American shipping were to be re- 20
duced 20 per cent. From the loan, it was also said, po
3,000,000 dols. were to be deducted for American 20
claims, and 4,000,000 dols. were to go to pay off
the British Convention creditors, which would leave
8, 000, 000do1s. at the disposal of the Mexican Govern-
ment. The state of the republic as regards her domestic
politics was improving. General Parodi had com-
pletely defeated and scattered the insurgents at
Queretari, and taken their chiefs prisoners. Tam-
pico also had at length submitted to the Govern-
ment, and the last news from all other parts of the
country were satisfactory.
The following aro the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 61 7 ;
Mexi-
can,l 24k 24i ; Peruvian, 7r 79 ; ditto Three per
Cents., 55 57 ; Portuguese 3 per Cents., 45 46 ;
Russian 5 per Cents., 107 9 ; do. 4i per Cents.,
97 99; Spanish 3 per Cents., 41f 414; ditto
Deferred, 241 251 ; Ditto Certificates, 6g ft ; Ditto
Passive, 5i 6.
The Railway Share Market this morning has
exhibited a rather buoyant appearance, although
the business transacted has not been extensive.
Prices, however, in most cases have shown a slight
advance upon yesterday's closing rates. Lancashire
and Yorkshire rose 105. ; Midland, ss. ; Grand
Trunk of Canada and Great Western of Canada
Were at improved rates, the former advanced 11.,
and the latter about 55. Sambre and Meuse, 10s.
Paris and Lyons and
.Northern of France were
steady.
In Mining Shares a very limited business has
been transacted. Great Wheal Alfred were at IGi.
Wheal Edward at 5 ; Fortuna, Ift 4.
Joint-stock Bank Shares have ruled rather lower ;
Bank
of Australia receded 10s. ; London and
Westminster, ss. ; Ottoman Bank, 10s.
; and Union
of Australia, 10s.
In the Miscellaneous
undertakings there was very
little business transacted. Electric Telegraph were
921, and Peninsularand Oriental Steam 68.

ILITISH FUNDS THIS DAY AT ONE O'CLOCK..
( limn the Officua Ltd.)
$ per Cont. Consols Annuitie5,,,........... ,IZ rt, done
Lout; Annuities, expire sth Jan. iB6O ...... 21 a
India Bonds, £lOOO ..... ......................
.....
Ditto, under £lOOO ........................... 2 p
Console for Account
• • •
X :chequer Bills, 20. • •• • 931
0.000 «...... " .............. .. 4 pld
inuol
1 4 Ditto Bonds, 1858, 34 per Cent.........,, 981 p par
Ditto 1859
P
Mexican
per Cent FOREIGN FUNDS AT ONE-O'OI4OCH
Ditto Account . . .
R issian Bonds, 1822, 1.-: St., 5 per Cent._ 107 i
Turkish Bonds, 6 per cent —
Ditto Account
97i
Di, leencleon the above payable In Lon,lt n.
D itch Exchange, 2 per Cenl-,., 12 Guilders
Ditto 4 per Cent. Certificates
O'CLOCK.
Consols, money TWO
Ditto for account
li ..... oir.lit 93g 933,