The Sun.
London, England, 1857-12-24 00:00:00

tIONEY

AliD
COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocic.

Letters from Liverpool mention that the Cotton
Market yesterday closed dull, but steadily, and
prices were without any material alteration. The
sales were estimated at 8,000 bales, 1,500 of which
were taken by the exporters, and 1,000 by the spe-
culators. In the Railway Share Market an easier
feeling was manifested, and quotations of all the
leading stocks were a shade lower.
The amount of gold sent into the Bank yester-
day, including a parcel of sovereigns, was 240,0001.,
and the total influx since the last weekly return
presented. to the public was completed, is thus
raised to more than a million sterling. There
is every relson to believe that the movement
will continue, as the receipts from the United
Slates are now becoming important. The Fulton
just in has brought 860,0001., and intelligence has
arrived by that vessel that the New York City
Banks have resumed payments in specie. This will
no doubt stimulate the efflux of gold to this country,
and the amounts thus imported, together with the
Australian supplies, will probably cause a material
increase in the Bank's stock of bullion.

There is a general desire in the City to make
Saturday as much a holiday as possible. The Stock
Exchange will be closed, and the attendance of
officials at the Bank of England and the various
joint stock establishments will be reduced. In fact
only as many as may be sufficient to transact
matters of routine will be retained, and
as the Mincing Lane markets are closed for the
Christmas holidays very little business will be con-
cluded. It is satisfactory to perceive that there is
a growing inclination to take advantage of any
favourable opportunity for the observance of a
holiday in City circles, since it enables a large
number of employes to obtain a little relaxation
which they would not otherwise secure.
At a meeting of Messrs. Charles Nicholson and
Co.'s creditors, an offer of 12s. 6d. in the pound
has been made and accepted.
The official returns relating to trade and naviga-
tion for the eleven months ending the 30th Nove-
mber have been published. From these it appears
that the total declared value of exports from the
United Kingdom for the eleven months was
115,007,1961., being an increase of 9,161,565/. com-
pared with the like period of 1856. The increase
is perceptible in coals and culm, cotton manufac-
tures, fish, hardwarep, linen manufactures, woollen
and worsted manufactures, and worsted yarn.
The importation of the principal articles have
been larger in, live animals, barley, oats, currants,
Ikemp, palm oil, raw silk, unrefined sugar, tallow,
Rine, and sheep and lambs' wool, but there is a
falling off in coffee, raw cotton, corn, sum, and
tea.

The shipping accounts exhibit an increase in the
amount of tonnage employed in the foreign trade
for the entries inwards, and also for these cleared
outwards.

In the coasting trade there is also a satisfactory
augmentation of the tonnage employed both in-
wards and outwards.

REDUCTION OF THE MINIMUM
RATE OF DISCOUNT.
After a long discussion, the Bank of England
birectors have reduced the minimum rate of dis-
count from 10 to 8 per cent. A large num-
ber of persons assembled at the national
establishment to learn the result of the de-
liberations, notwithstanding the general im-
pression that an alteration would be deferred
until next week. The joint-stock banks will pro-
bably lower their allowance for deposits to 6 per
cent.

At the commencement of business the Funds
Were quiet but firmer. Transactions, however, were
conducted on a small scale, owing to the suspense
in connection with the policy that might be adopted
at the Bank. Since the change was made, the
market has remained inactive at previous prices.
This proves that the event had been fully specu-
lated for, and whether it took place to-day or next
week, was of little consequence, so far as the
majority of the operators were concerned.
Consols have been 91i 1, and they are at present
firm at those prices. The New Three per Cents.
have been 93/ A ; the Reduced, 934 ; and Ex-
chequer Bills 3s. discount to Is. premium.
In the Foreign Stock Market very little business
has been done, and prices remain unaltered.
Turkish 6 per Cents. are 951 96f ; Ditto 4 per
Cents. 101; Peruvian 4i per Cents. 75 76 ; and
Belgian 4i per Cents. 96.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 5 6 ; Mexi-
can, 191 19i ; Peruvian 4 per Cents., 76
78 ; ditto 3 per Cents., 51 53 ; Portuguese 3 per
Cents,, 44 45 ; Russian 5 per Cents, 105 107 ;
4- per Cents., —— ; Spanish 3 per Cents.,
; ditto Deferred, 25i 26.
In the Railway Share Market to-day prices have
been depressed, the unfavourable character of the
traffic returns of many of the principal lines having
influenced prices, and the decline has been about
to per cent. Caledonian, North-Western,
Manchester, Sheffield, and Lincoln, and North-
Eaiteru Berwick declined 10s. ; Edinburgh, Perth,
and Dundee, and South-Eastern, ss. ; and Cale-
donian, 11. ; Great Northern, and Oxford, Wor-
cester, and Wolverhampton, improved 10s.
The Foreign and Colonial undertakings have
not been active; prices, however, have slightly
improved. Paris and Lyons advanced ss. ; Lom-
bardo-Venetian, 55.: Great Western of Canada,
65. and East Indian, 10s.
Mines, Banks, and Miscellaneous Shares are fiat.

'BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official Lists)
Businessdone.
3Per Cent. Reduced Annuities
N▪
ew 3 per Cent. Annuities 93i I A
&edit. Bonds, £lOOO - -
20 d
Ditto, under £lOOO
00l sols for Account ..
Ezebeener 1011 e, 24d.
11000. par 3 d 1 p
tiboo 1 p
Shall
PRIORS OF FOREIGN FUNDS' AT ONE O'CLOCK
l'eravian Bonds, 48 per Cent 76 5
T a rkieh Bonds, 6 per cent
... Ditto Account 951 a
,Ditto Guaranteed, 4 per Cent.
Dividends on the above payable in London.
Belgian 2i per Cent., ex. 25 francs
L.De. 44 per Cent.. ex. 25 francs
TWO O'CLOCK.
. 93,3/4 i ad

Consols for account

A. meeting of the creditors of Messrs. Hadland,
Shillingford, and Co. was held at the Guildhall Coffee-
house to-day, when a statement of their affairs was
submitted by Mr. C. F. Kemp, the accountant. A
composition of 16.. in the pound was offered by the
firm in three i nstalments, in three, six, and nine months
from Jan. 20,'viz., in two payments of 6s. each, and the
last 4s. After much discussion a resolution was passed
by the creditors present accepting this offer. A meeting
was held yesterday of the creditors of Messrs. Lichten-
stein and Co. A dividend of nearly 10s. in the pound is
expected. Of the assets it was considered,that about
one halt, or sufficient to yield a dividend] of ss. in the
powad, wouli be available within two months. It
appears that at the meeting of the creditors of Messrs.
nirsob, Strother, and Co., held yesterday, the creditors
present agreed to accept the composition of 3s. 6d. in
the pound offered, and to give the firm a release.
SATURDAY NEXT---Amongst the City and West-end
employers who have formally notified their intention to
observe the 26th inst. as a holiday the following well.
known firms may be mentioned :—Messrs. J. and R.
Morley, Wood-street ; Leaf and Co., Old Change ; Cook,
Son, and Co., George Hitchcock and Co., and Allen
and Co., St. Paul's-churchyard ; Welsh and Maraetson,
Chen side ; Harvey and Co. Ludgate-hill ; Charles
sleeking and Co., and Howitjand Co., Holborn ; Swan
and Edgar, Piccadilly ; Hailing, Pearce, and Stone,
Crickspur-street ; Redmayne and Co., Bond-street ;
Lewis and Allenby, Dickins and Co., Hodge and Low.
man, Jay and Co , Pugh and Co., King and Co.,
Regent-street ; Marshall and Snelgrove, Vere-street ;
Peter Robinson, Sowerby and Co., and Grant and Co.,
Oxford-street ; Shoolbred and Co., Hayward and Dray-
eon, Kidd and Co., Garmeston and Co. Ayres and
Saunders, Maple and Co., &c., Tottenham-Court-road
RATCHET CEIURCH.—The new parish church at Dateliet
'was opened for Divine service on the 22d inst., by the
Lord Bishop of Oxford. The work is of the best and
Ixi.ost substantial character, in the decorated style ; and,
including a pulpit, reading desk, communion table and
rails, in massive carved oak, and a font of veined
10abader,