The Sun.
London, England, 1857-06-26 00:00:00

IVIOATFY I‘.,IAR,KET

AND

COMMERCJ 45. L INTELLIGENCE.

CITY, Two O'CLOCK.

Letters from Liverpool mention that the Cotton
Market yesterday closed with a firm appearance,
and prices were fully maintained. The sales were
• timated at 3,000 bales, 1,000 of which were
taken by the speculators. The Railway Share
Market closed quietly, 'and only a limited business
Wtta transacted, but prices were a shade better.
In the Foreign and Colonial Produce Market
Ns week there has been less animation, and the
general tone of business is quieter, but at the same
time the quotations of nearly all the chief articles
steady. Sugar has been less active, but holders
'ave withdrawn several parcels offered publicly, so
43 to support prices, and thus very little variation
hal taken place. Coffee has realised full prices,
add a good demand has existed. At the forthcom-
ibg Dutch auctions 80,794 baskets and 2,745 bags
of Java, besides 7,377 bags Mauritius, will be of-
fered. Cocoa is quiet, but 2s. per cent. dearer.
'Lice continues steady, and for tea there has been an
'active enquiry, at a rise of Ad. per lb. Spices are
steady and tallow has advanced. The declarations
'°l' the Indigo sales of next month are extended to
12,381 chests, and some additions may still be made.
I.ll„tbe course of examination we find a very large
Proportion of the Bengal crop to be more than corn--
41%4 cold and otherwise defective. Sound red
dualities suitable for Russia are very scarce, and are
kely to command higher prices. The deliveries of
late have been steady, the arrivals early, and the
stock still shows a temporary increase upon that of
lad year.
The stock of saltpetre on the 20th instant was
6,532
against 6,121t0ns at the same date last year.
The Bank of France have reduced the rate for
discounting bills from 6 to 5A per cent., but no
alt( ration is made in the terms for advances on
stock. This measure, as far as we are in a position
t Qindge, is a sound one, and, notwithstanding an
?Pinion is loudly asserted in some quarters that it
la utterly inconsistent with sound principle, there
%,t1 be no question that the administration will
Ultimately be proved to have acted with prudence
kid a due regard to probable contingencies. Sup-
tb,Sing the stock of bullion has been diminished to
the extent of 800,0001., as stated, that is no reason
/t,IIY the position of the Bank should render a
c.ualige impolitic, and a wise det-rmination is
ctident in the course pursued, viz., the
Withholding, of increased facilities from the specu-
Sive public. It is proved by the premiums paid
the ci call " of different kinds of stock that a
disposition exists to extend operations on the
°urse, and if these were encouraged by an offer
bu the part of the Bank to grant loans on easier
t e'lna the results might be disastrous, and the
Improvement
in financial affairs thus impeded.
sin, there will soon be an issue of 50 franc notes,
Le emission of the scrip of shares representing the
evr capital having already commended. As soon
fag
some of the instalments are paid, note
qrenlation will bs increased ; and with the pros-
pects of a good harvest it will no doubt be
°ll.lll, in spite of the doubts expressed,
that the alteration made yesterday was not only
,hare
but perfectly justifiable. Of course
,suare is a good deal of disappointment ; some ex-
Pected a reduction of 1 instead of A- per cent., while
:tilers made sure that the measure, whenever it
Was adopted, would apply to loan as well as dis-
bzumt operations.
During the fortnight ending last evening the
amount
of bills drawn by the Honourable East
India Company on the three Presidencies were as
fellows 4

Rates of Excbange— Amount.
On Bengal, 2s Oid per rupee... £41,851 8 9
On Madras, 21 04d per rupee... 7,840 18 0
On Bombay, 2s. id. per rupee... 600 0 0

Total £50,292 6 9

The Trade and Navi Ration Returns for the month
41(1 five month,' ended the 31st of May last, have
been published this um- ruing. These exhibit a steady
!IPansionof our commercial intercourse with most
the
of the world, notwithstanding the tightness of
"Qe money market and the dulness which seems to
Drevail in most branches of business. The value
°l', our exports, and the results when compa-ed
With the previous year, are as under :
One m')nth. Five months.
1857
1856

Increase...£2 648,904 ... £6,888.212
'the import tables are also satisfactory, and those
relative to shipping show that a larger amount of
11°nnage has been employed this year than in 1856
or 1855.
This day a large meeting of shipowners, mer-
21ant-seamen, and others, was held at the London
Bishopsgate-street, R. W. Crawford, Esq.,
'"(.P. in the chair, the object being to affect a re-
Peal Of the Act of 1854, and to induce the Govern-
kept to grant a charter of incorporation for the 1C(
merchant seamen of the empire.
Although exceedingly dull, the English Funds
eve been very firm all the morning, the decline in
the minimum at the Bank of France, notwrthstand-
113g the depression on the Bourse, having given
'`llPPort. The market remains in the same dull and 174
apathetic state, and there is no variation of the 20
slightest importance to comment upon. Consols St.
have been 93i 1, and trey are now flat at 20
The
quotations. For the opening they are 93g. 100
Ahe New 3 per Cents. are 92i 93, and the Re- 1(2)3
;need 92/ 93. Exchequer Bills have further receded
181 being 7s. to ss. discount, and the Bonds are at St.
.80 India Bonds are marked 4s. discount. 100
Foreign Securities are quiet, but on the whole 20
lather firmer. Turkish 6 per Cents have risen to
P,N 4, and the 4 per Cents. are firm at 1021.
411 e only other transaction recorded is Russian 5 1.1
Par Cents., which have been done at 110.
Messrs. D. Bell, Son and Co., report that during
the week there has been very little business in.
American Securities, and little change in prices.
GOVERNMENT SECURITIES.
Redeemable. Per Cent.
united States 6 per Cents. 1867-1868...106 1061
united States 6 per Cent. Bonds 1863...106 1061
STATE SECURITIES.
Alabama 5 per Cent
Maryland 5 per Cent. (Sterling Bonds)
Massachusetts 5 per Cent. (Sterl. Bonds)
Mississippi 6 per Cent. Pl. Bk
,_Bonds lB4l-1871... 40 42
Mississippi 5 per Cent. Union Bk Bonds ... 20 22
„4"ennsylvania 5 per Cent. Stock
fnennsylvania 5 per Cent. Bonds 1877... 79 81
Virginia
6 per Cent. Bonds
Virginia 6 per Cent. Bonds 1886... 83) 84i
Virginia 5 per Cent. (Sterling Bonds) 1888... 84 86
LOANS OF CITIES.
Boston 4i per Cent. Bonds 1883... 90 92
Montreal 6 per Cent. Bonds 1856-1865...
ITew Orleans 6 per Cent. Stock 1883... 75 77

... 78 -
... 89 91
...100 -

RAILROAD BONDS.
Illinois Central 7 per Cent. Ist Mortgage,
not (lonvertible 1875... 89 91
Illinois Central 6 per Cent 1375... 86 88
Illinois Central 7 per Cent. Freeland
Bonds 1860...106 108
Illinois Central (Shares), $3O paid 19 21 p
Michigan Central Bp. Cent., Convert 1860...
Do. do. do. ....... 1869._ 89 91
New York Central 7p. Cent., Convert 1864... 88 90
New York Central 6 per Cent., not
Convertible 1883... 78 80
New York and Erie 7 per Cent. 3d Mort-
gage 1833... 80 82
N. York and Erie 7p. Cent. Convertible 1862... 72 74
N. York and Erie 7 per Cent. Sinking
Fund - 80 82
Panama 7 per Cent., Ist Mortgage 1865...
Pennsylvania Central 6p. Cent., Ist Mort 1880... 89 91.
To-morrow is "making-up" day in the Railway
Share Market, and the account is stated not to be
so heavy as usual. Most of the principal shares
are firmer. There is an advance in Great Western,
Lancashire and Yorkshire, Brighton, Caledonian,
North-Eastern, and nearly all the principal lines.
The Foreign are quiet, and tha French shares,
owing to a decline at Paris, ara all lower. Indian
and Canadian shares are equally dull, and a decline
of 1/. to I/. 10s. has occurred in Grand Trunks.
Mines, banks, and miscellaneous shares are re-
, markably inactive.

BRITISH FUNDS.—CLOSING PRICES —THIS DAY.
(From the Official List.)
Business done.
3 per Cent. Reduced Annuities 92/ 3
New 3 per Cent. Annuities 93 21
India Bonds, 1:1010
Ditto, under £lOOO
Consols for Account,
Ditto for Opening
Exchequer Bills, 24d.
£lOOO " • • 0000000
£5OO 8
7 d 4
Ditto Bonds, 1858, 34 per 00000
Ditto, 1859 000
PRICES OF FOREIGN FUNDS—THIS DAY.
Portuguese Bonds, 5 per Cent., Con. 1841
Ditto 1853, 3 per Cent 464 7
Russian Bonds, 1822, is St., 5 per Cent llO
Sp utiFh Bonds. 3 per Cent.
Ditto Account 42
Spanish Committee Cert. of Coup. nit fun 6i
Turkish Bonds, 6 per cent
Ditto Account
Ditto Guaranteed, 4 per Cent.
Ditto Account
Wends on the above -ayst• > •
Dutch Exchange, 2 per Cent., 12 Guilders
Do. 4 per Cent. Certificates
711 REA O'CLOCK.
Consols for account, July 9 938 ex d

4d
~ 934
~ 93#

963 fi
102fi 2
to Lon ,(n.