The Sun.
London, England, 1857-04-13 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWo o'CLocK.
The advices from the manufacturing d'stricts iu
the north describe business as being dull, but no
complaint is made of the operatives being unem-
ployed. Of course the late discount restrictions,
following; the dullness occasioned by the elections,
has prevented the revival that was anticipated.
Later accounts from New York hare been re-
ceived by the steamer Africa, but they announce
no material change either in monetary or commer-
cial affairs. The last return published by the City
banks, contrary to general expectation, exhibited a
decline in the discount and loan operations, but as
the payments during April on mercantile account
would be very heavy; no immediate relief was an-
ticipated in the money market.
Although the Bank rate of discount is fully main-
tained the • inquiry is less urgent, and. an easier
feeling prevails. The influx of gold still continues;
a large proportion of the receipts are going, and
are expected to go, into the Threadneedle-street
vaults, and the continental demand is curbed
through the precautions taken by the authorities.
There is, consequently, reason for increased confi-
dence. Still, it mist be acknowledged. no cause
exists for congratulation, the monetary system is
deranged, and the inconvenience is extremely bur-
densome to the ceminerca of the country. Perhaps
them was never a period when the inefficiency of
the existing currency was more fully proved The
same banking facilities which may have been
ample in 1844 are totally inadequate to
the requirements of the present time, the
development of trade in the interval- having
doubled the commercial transactions of the United
liegdom. The Means by which these operations
are conducted being inefficient, constant fluctua•
tions in the value of accommodation—which, how-
ever, is always maintained at a high point—take
place, and embarrassments ensue among firms
who-le engagements too greatly exceed the limits of
their capital. Any modification of the existing
laws is temporarily delayed, but as the difficulties
caused by their_ operation increase as they
most certainly will, so must the necessity of an
alteration be made apparent even to those who
have hitherto steadfastly supported them.
The movement of the precious metals last week 2
Was extensive, but less so than in the previous one. lc
As far as can be ascertained (for the receipts of silver 2
5
from the Continent can only be roughly estimated), 2
the imports of the precious metals amounted to
476,2841., while the exports during the same period g
Were 173,250/.

A large supply of Australian gold has been an-
nounced to•day by the Royal Charter and the Light
of the Age. The former brings 128,000 ounces
and 13,000 sovereigns—together, 525,000/. —and.
the latter 6,500 ounces, or 26,0001. The Africa,
from,New York, has $34,000 on board, but this is
no doubt intended for France.

An improvement of i per cent, has taken place
in the English Stock Market to-day, owing to dimi-
nished pressure for money, the influx of gold per
the Royal Charter and the Light of the Age,
and the increased confidence felt in the probable
COUnie of monetary affairs. The Bears have
ahown a disposition to close their engagements, and
several purchases, both real and speculative, have
been effected. Consols have been 92k, 93, and
63k for money ; and 931 4 for the account. The
llevr Threes are 914 92 ; the Reduced, Ex-
chequer Bills •are is. discount for those dated
March, and 6s. discount for the June ditto.
In Foreign. Securities the dealings have been
limited, but the quotations are firmer. Turkish
6 per Cents, haVe been 94i 1, and 943/4 ex divi-
dend. The 4 per Cent. Guaranteed have been
1001. Sardinian Bonds are 90k, Portuguese 3 per
Cents. 45, Peruvian 43/4 per Cents. 77, and Bra-
zilian 5 per Cents. 993/4.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 63/4 7 ;
233/4 4 ; Peruvian, 77 8 ; do. 3 per Cents.,
545 ; Portuguese 3 per Cents., 441 51 ; Russian 5
per Cents., 104 6 ; ditto 44 per Cants., 95 7 ;
Spanish 3 per Cents., 41i ; ditto Deferred, 241 25 ;
ditto Certificates, 61 4 ; ditto Passive, 5i 6.
There has been rather inore activity in the Rail-
way-Share Market, and some of the principal under-
takings have•shown an upward movement. Eastern
Counties have improved about 55., Great Western,
Lancashire and Yorkshire, North-Western, South-
Western, and Midland, 10s. ; and Manchester,
Sheffield, and Lincoln, and South-Eastern, 15s. to
1/. The Canadian lines are also at improved quota-
tions. Grand Trunk of Canada improved about 1/.
astern of France, Northern of France, Paris
and Lyons,' and Southern of France are each about
68. higher.
No business of any importance has been done in
British, Foreign, or Colonial Mining Shares, and
prices are quite nominal. •
Joint-Stock Bank Shares ruled all but at previ-
ous rates. Australasian Bank improved about 55.,
and Union of Australia ss.
The Miscellaneous undertakings were cpiet, at
Previous quotations. Peninsular and Oriental
Steam rather declined, being 663- 67.

BaOISH FUNDS THIS DAY AT ONE '.'CLONE..
(From the Offinal Ltst:)
• •
ausinest, done
„8 Per Cent. Reduced Annuities
iz,Per Cant Consols Annuities
new 3 per Cent. Annuities 9lB i 2i 1j 2
Lo.ig Annuities, expire nth Jan. 1860...
Ditto 30 Years, expire 10th Oct., 1859 2 13.16
co.„nsols for Account ,, „ ,„93$
ztehequer Bills, 24cl March. I June.
21000
£5OO .l • •• • • 1d 1 6d
I 3 d
b Small"... .......... . . 64.
•LIIICFS OF FOREIGN FUNDS AT ONE 0'01.04 A'
Brazilian 5 per Cent.
Ditto New, 1852, .q per Cont.
Mexican 3 per Cent
Ditto Account
Peruvian Dollar Bonds, 46 per Cent.
Pertuguese Bonds, 5 per Cent., Con. 1841
Ditto 1853, 3 per Cent. —
Ditto Account 45
Sardinian Bonds, 5 per Cent.
Turkitt.h Ponds, 6 per cent
Ditto Account . . . 94.3 / i
Ditto Guaranteed, 4 per Cent, -
""""aDivldende on the-above payable In Lou ~n.
TWO O'CLOCK.
Consols, money 92i 93
Ditto for account

The King of Denmark has not yet accepted the resig-
nation of the Ministers on the 10th of April. There was
to be a secret meeting of the Council of State on the
llth, when the question would be definitively settled.
The Bund of the 10th declares that the Federal Conn-
ell has uttered its last word in the affair of Neuchatel.
nr. Kern is not to make any further concession. M.
Piaget does not return to Paris.
News from Bombay, of March 19, received at Trieste
on the 11th, states that an opinion in favour of peace
wei gaining bound in India. The Government has
countermanded by the telegraph the departure of the
regiments under orders for the Persian Gulf, and the
maritime authorities have ceased t freight transports.
No news from China.
• We (Western Times) have the pleasure to state that
Lord John Russell has contributed 1001. to the expenses
of the coratuittee for conducting Mr. Bulier's election.
Ilia lordship is, we understand, expected at Castle Hill
to spend the Easter holidays.
The Post-office authorities have given notice that a
flail for the Cape will be taken out by the steamship
iljnialaya. Letters may be posted in London until
Wednesday evening. The Himalaya will take out the
nails shipped on board the Transit.
TUE NEW SPEAKELL—Mr. Denison possesses good
qualifications both of person and character, and ho is one
Year younger than Mr. Baines ; but we should not have
thought that in accurate knowledge, in business habits,
'n public services, or in the ability to preside over such
a body as the House of Commons, he was neatly eqeal.
'to that gentleman. He has, however, an advantage
Which weighs surprisingly with our governing classes,
le being the son-in-law of a duke ; whereas Mr. Baines
they may
from the people, and his merits, whatever
ell may may be, are all his own. We must be excused
if
e say that it does not seem quite in the spirit of
the constitution that aristocratic connexion should be
vi.allowed to decide in the choice of the first officer of a
"10,,T4e of Commons.—Leeds Mercury.
IsalN ST. GILICS'S.--Yesterday. (Sunday). about
noon, a fire happened in the premises of Mr. Kopmon
Bit:eons, No. 29, 'Dudley-street, St. Giles's. The pro-
prietor of the ko,nse, a Jew, bad been engaged in making
and selling Passover cakes, and yesterday he was sud-
denly called to serve in the shop, when the instant he
entered his clothes burst forth in flames, setting the shop
On fire. Before the fire could be put out the unfortunate
Iman was so severely burned that it was found necessary
that remove him to Charing-cross Hospital. It is believed
he set his clothes en fire whilst standing in the
Parlour. Fires also took pace yesterday in Charles-
reet, Middlesex Hospital, and Walwoith-road, but the
damage done was very trifling.