The Sun.
London, England, 1857-03-02 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocx.
The Liverpool Cotton Market on Saturday closed
quietly, but firmly, and prices of all kinds were the
same as last week. The sales were estimated at 6,000
bales, 1,000 of which were taken on speculation.
The Railway Share Market was steady, without
any alteration in prices.
The Money Market during February is thus de- s
scribed in the Bankers' Magazine :—"The opening k
s 5
of the Parliamentrry campaign, and the favourable
change in the weather, appear to have produced a
satisfactory influence upon financial affairs. The
Budget, although it has encountered opposition,
has been carried by a large majority, and the mea-
sures of retrenchment adopted, with the re-
duction of ,the Income Tax, have increased
the Confidence of the public. Notwithstand-
ing, some
,incline to the belief that greater
economy might have been exercised ; the pre-
sent changes must be accepted as an earnest of
what the future may produce. While we are thus
experiencing the benefit of diminished taxation,
there is confident anticipation that the settlement
of the Persian question will ba shortly announced,
and under these circumstances, one great cause
of anxiety is allayed. The dispute with China
does not create much alarm, and although
it may partially restrict trade, the re,ulf, it
is thought, will eventually prove advantageous
to the whole of our European mercantile relations.
The Bank directors having announced their inten-
tion of making advances on stocks, and also on bills
not having more than six months to run, until the
Payment of the April dividends at the rate of six
per cent., increased animation has been witnessed
in the market for public securities. But altkough
this is the case, there is no immediate probabi-
lity of a reduction in the terms of discount,
the demand generally being well maintained.
Arrivals of gold from Australia have lately
taken place to the extent of upwards of 1,000,0001.,
in addition to supplies from America, but the entire
sum has beon absorbed by purchases on behalf of
the Bank of France and those engaged in securing
silver from the continent for remittance to the
East and China. Fottunately the stock of bullion
in the Bank has not undergone diminution, for,
notwithstanding some withdrawals have taken
place, the return of coin from Ireland, Scotland,
and the provinces has been sufficient to replace the
amount so as nearly to balance the total. The late
failures in the Greek trade have not occasioned
alarm.

t 1100

15 I all
5 all

t. 100
100
t. 100

n I all

:6 all
.0 8
i 0 45

25 all
St. 100
20 all
St. 100
St. 100
n 8i
25 17
St. 100
20 all
10 4
St. 100
10 all
St. 100
10 all

St. 100
10 all
St. 100
St. 100
St. 100
St. 100
St. 100
St. 100
12 all
50 all
16, 14!
16i 12
• ..__

it:100
L 6 6
_3 j.

1141 all
St. 100
St. 100
20 all
10 all
122 22
St. 100
25 all
25 all
St. 'lOO
10 1
10 1

;t. !IMO
;t. 100
;0 all
5 all
10 all
5 all

;t. 'lOO
i 0 I 3i
it. ,100
it.lloo

During the last two or three.days there has been
a sensible increase in the demand for discounts,
but as this is known to arise from merely temporary
causes it excites no uneasiness. The sank mini-
Mum rate is not exceeded " out of doors," but, as
Might naturally be anticipated, the bill-brokers and
others avail themselves of the opportunity for
charging as much as possible for accommodation.
It is found that the extended inquiry emanated from
thecommercial community, who, besides the amount
required to carry on current operations, are providing
for the bills which become due on Wednesday
next. In addition to these wants, which are im-
portant, and absorb a considerable sum, the settle-
Merits at the Stock Exchange augment the pros-
"re. The account in Foreign Stocks and Railway
Shares has just been arranged, and in a few days
the monthly liquidation of speculative engagements
in Consols has to be effected. These events neces-
sarily create an increased demand for loans, and
On the Stock Exchange 6 to 6t per cent.
has been freely paid for such assistance.
As soon, however, as these liabilities are wholly re-
moved, it is presumed that the money market,
assisted by large arrivals from Australia, will be-
come easier, although, of course, an immediate de-
cline in the official rate is not thought probable.
The gradual improvement throughout the Conti-
nent encourages the hope that affairs here will
take a similar course, although the extension of
joint-stock enterprise may retard it. A small
amount of gold, namely, 24,0001., was re-
ceived on Saturday, but the Blackwall, which
has now been out about ninety days, has not yet
arrived. During the next fortnight or three weeks
large supplies are expected, which will not only
arIPPly the continental demand, but also tend to
augment the metallic reserves in Threadneedle- Ito all
t
Street.

The letters and papers by the overland mail con-
firm the intelligence received in anticipation from 10
Marseilles. There was a considerable pressure on lc
the Bengal Money Market, but symptoms of relief lc
had been experienced during the fortnight preced- 2
big the departure of this mail. The new Govern-
plent 5 per cent. loan had not exercised any pre-
judicial influence, as it was not supposed that sub-
scribers would be found.
The Ministerial crisis is the subject of general con- E
variation in the City, and the speculators at the 1.
Stock Exchange evince great interest in discussing 1( 1,
the probable result. of the struggle. Of course
aPeculation in public securities is temporarily inac-
tive, operators for a rise or fall being alike per-
plexed ; prices consequently droop, but no 1(
material decline has taken place. The pre-
liminaey arrangements connected with the
approaching settlement are now engaging
chief attention, but although business in Consols 11
is dull numerous transactions are recorded in rail- ti
way shares, which still tend upwards. Consols for
transfer are 93i ; for account, 931 ; and for 11
April, 9,4. t. The New 3 per Cents. are 94 to
94k, the Reduced 93i 1 ; the New 2i per Cents.
77 •, and the 5 per Cent. Annuities 114. The ad-
vertised Exchequer Bills are 4s. to 3s. die., and
the Bonds are 98i Bank Stock is 221.
Foreign Stocks remain dull, but the quotations
are well maintained. Turkish 6 per Cents. have
risen full 1 per cent, being 97/ for money, and 961 -
to 971 for the account. Spanish Certificates are
61 Russian 41 per Cents. are 981. Sardinian
91, and Peruvian 4 per Cents. 80 ex-dividend.
Dutch 21 per Cents, are 651.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 61 7 ; Mexi-
can, 211 221 ; Peruvian, 79 81 ;
Portuguese 3 ditto Three per
Cents., 55 57 ; per Cents., 44 46 ;
Russian 6 per Cents., 107 109 ; ditto 44 per Cents.,
98 100 ; Spanish 3 per Cents., 4011 ; dittoDeferre,
, ditto Certificates, ; ditto Passive,
bib.
There has been an active business transacted this
morning in the Railway Share Market, and the
prices realised show in almost all instances an im-
provement on Saturday's quotations. Caledonian
have advanced 10s., Chester and Holyhead 55.,
Eastern Counties 55., Great Northern 15s, to it.,
Great Western 10s., Lancashire and Yorkshire 10s. ,
North-Western 55., Midland 55., North British
10s., Oxford, Worcester, and Wolverhampton it.,
and South-Eastern 10s. Northern of France have
risen 55., Eastern of France 55., Grand Trunk of
Canada 10s., and Great Western of Canada ss.
Western of France were very steady.
British, Foreign, and Colonial Mining shares
rule very dull, with little alteration in prices to
report. Devon Great Consols realised 454. North
France, ; Wheal Kitty, 51, and United Mexi-
can, 4t.
Joint Stock Bank and Miscellaneous shares show
no material variation in prices. Bank of Australia
are improved and Westminster 55.,
1./ London
Ottoman Bank
58, Canada Land have risen 108.,
and North of
Europe Steam declined 53.

BRITISH FUNDS THIS DAY AT on O'CLOCK.
(From the
„Officia/ List.)
Badness done
Elnk Stock , ........ .
3 per Cent. Reduced.AnnuTt.i .... ************
...
221
3 par Cont. Console All Ira. Kies ...................... 9911 i
New 3 per Cent. Annuitaes ......... 94'
Now 2i per Cent. Annuities •,,; 77-7 5 per Cent. Annuities. **•... .. . ************ ..
Low!, Annuities, expire .sth. •41;: * iiit.s.4 ...... 114
Ditto 30 Years, expire sth April, 188 i ...
—4
d par
Consols for Account ................ •
... ....,.
.. 93i i
FAchequer Bills, 2,d.
£560
Small . ...................... 1 p
Ditto Advertised ........ ... . i
. 3 4
.....
Ditto Bonds, 1t358, 34 per Cent. .... ......... 98.4
Ditto, 1359
........... 98i i

PRICES OF FOREIGN FUNDS AT ONE O'CLOCK
Peruvian Bonds 4i per Cent BO
Russian Bonds, 1522, £ St., 5 per Cont._
Ditto Small
Sardinian Bonds, 5 per Cont.
Spanish Committoo Cert. of Coup. not fun ei
Turkish Bonds, 6 per cent 97 4
.Ditto Account
Dividends on the above Japoio 1a Londcn.
Dutch Exchange, 2i per Cent., 12 Gu11,,. 651
Ditto 4 per Cent. Certificates
TWO O'CLOCK.
Consols, money
l)itto Account
Ditto AND. Acmuit ~,,„,,,,,,,,,,,,,t, 91i d

it. 100
;5 23
15 16

PO all
it 100
4. WO
.0 ,31.1

.0,0 17
Kt all
LO all
it. 100

!I) 16
[0 10
;t. 100
st. 100
;t. 100
X) 4

i 0 all
it. 100
[0 all
;t. 100

!O all
15 all
15 15
:5 3
_l6i

It. 100.
h. 100
5 22
O all
°,O all

iO all
O all
LO all

5 all
5 all
►o $1
LO all
:0 all
LO all

8 I all

so' all
I 0 all
:olio

2 5
!O all