The Sun.
London, England, 1857-10-01 00:00:00

MONEY MARKET

AND
CODIrdERCIAL INTELLIGENCE,

CITY, Two O'CLOCK.

The Liverpool Cotton Market yesterday closed
quietly, and prices were without any material
alteration. The sales were estimated at 5,000 bales,
500 of which were taken by the speculators. The
Railway Share Market exhibited more activity,
but quotations were a shade lower.
The position of the Money Market during Sep-

temlrer is thus reviewed in the Banker's Magazine :
—"There has been great stagnation in public
affairs during the past month. Depression un-
forttnately is the order of the day, through the
political position of India ; and the anxiety evinced
to ascertain the nature of the intelligence by each
mail shows the importance attached to the progress
of events In that quarter of the globe.
The result is that business is checked, uneasiness
created, and a general heaviness produced, which,
without severely affecting monetary or mercantile
interests, prevents activity. Consequently during
the last fortnight there has almost been entire
stagnat on and the operators in public securities
have generally suspended transactions. The value
of money is well supported and there is evidently
no expeCtation of a decline, the efflux of specie
to the continent; with the advance in the rates
of discount at Amsterdam, Hamburg, and
Berlin to 6i per cent., causing some par-
ties on the contrary, to believe that a prospect
exists of a movement in the other direction.
Notwithstanding large Australian remittances
have been received, the drain to France and Ham-
burg excites some apprehension, particularly since
the disturbance in the money circles of the United
States, where pressure and panic have prevailed,
has caused shipments of gold from New York to be
suspended. Trade generally appears to be scarcely
as sound as formerly, and the failures in the pro-
vinces although unimportant, indicate that weak
firms cannot resist the effects of the late main-
tenance of the rates for mercantile accommodation.
The minimum of the Bank of England has not
varied, while in Lombard-street the rate is fully
51 per cent."
During the last two days, the pressure for dis-
count has been severe, under the twofold influence
collect ions and the preparations
for the 4th of the month. Full rates, and in some
instances an advance have therefore been exacted ;
but there is now a slight pause in the inquiry, and
the market is temporarily easier.
The Bank of England directors, as expected, have
made no alteration in the discount regulations at
their meeting to-day, and, through the aid of the
October dividends, and the influx of gold, it is now
thought 'that no new measures will become neces-
sary this year. All are prepared for the continu-
ance of the present minimum, trade being carried
on to too great an extent to admit of a sufficient
accumulation of capital to influence the rates
favourably. Provision has now been made for the
commercial engagements due on Saturday, the
settlements at the Stock Exchange are com-
pleted, and also the preparations for the ship-
ment of specie by the Colombo for India
and China. A short period of relief may now be
experienced. Specie is likely to arrive in large
quantities from Australia, several remittances

tieing now overdue, while of silver moderate sup-
plies may be expected from Mexico. The steamer
Parana, just announced, brings nearly 400,0001.
Silver has been in active request during the last
two days, and an advance in prices has consequently
taken place.
A decline of about e per cent. was experienced
on the Paris Bourse yesterday, the Rentes having
closed at 6 Bf.

During the eight months ending August, the
imports of specie into Frame were valued at
17,500,0001., and the exports at 15,940,9001.
The market for Public Securities has been very
buoyant to-day, and a rise of per Cent. has taken
place in consequence of real and speculative pur-
chases. There is a good deal of animation, and
most securities are in demand, a bettor feeling,
having been generated by the Revenue Returns.
and the expectation of better news from India
The markets consequently present a remarkable
contrast to what they did a few days ago when quo-
tations were almost nominal, and business was
nearly suspended. Consols have been 90i g for
money, and 90g for account, and these are the
present quotations. India Bonds are Zs. to 235.
discount, and Exchequer Bills are is. better, viz.,
9s. discount.

An extensive business has been done in Foreign
Stocks. Turkish 6 per Gents. have risen to 953/4
and the 4 per Cents. are 993/4. Transactions in
other securities have taken place as follows :—Bra-
zilian, 100 ; Dutch 23/4 per Cents., 643/4 ; Russian 5
per Cents. 1091 ' • Mexican, 211 21 ; Buenos Ayres
6 per Cents., 81.; Spanish Deferred, 251 ; ditto
Passive, si.
The following are the nominal prices of Foreign.
Stocks :—Grenada Deferred Bonds, Si 6 ; Mexi-
can, 21 ; Peruvian 4i per Cents., 791 80i ;
ditto 3 per Cents., -- ; Portuguese 3 per Cents.,
444 45i ; Ru‘A.an 5 per Cents., 109 111 ; ditto
4 per Cents., 96 98 ' • Spanish 3 per Cents., 40k k ;
ditto New Deferred, 25i ; ditto Certificates,
; ditto Passive, 51 6.
The last week's railway receipts, ascertained up
to this day, are in round figures as under :

1857. 1856.
Great Western £31,501 £30,358
North-Western
South-Western
Brighton 18,472 19,215
Midland
South-Eastern - 23,359 25,724
Great Northern
Lancashire and Yorkshire 26,531 24,192
Bristol and Exeter - 7,036 7,448
Uhester and Holyhead
East Lancashire 7,052 6,763
Lancashire and Carlisle 7,362 7,003
Manchester, Sheffield, and Lincoln 11,682 10,012
North-Eastern
North London
North Stafford
Oxford, Worcester, and Wolver 4,881 4,236
West Hartlepool
Edinburgh at d Glasgow .......
Glasgow and South-Western
Scottish North Eastern 3,761 3,563
Grand Trunk of Canada
Great Western of Canada 10,707 12,134
Great Luxembourg
A. rather active business has been transacted in
Railway Shares this morning, and an improve-
ment of about 1 to 2 per ca. may ba quoted on
some of the principal lines. Midland advanced 21.;
North-Eastern (Berwick), 1/. ; and North-Eastern
(York), V. 10s. ; Great Northern, 11. ; and South-
Eastern, 1/. ; Caledonian, Great estern, and
Oxford, Worcester, and Wolverhampton 10s. ; and
North-Western, 15s. to 11. The Foreign lines are
quiet, but firm. ; Namur and Liege and Antwerp
and. Rotterdam were a shade higher. In the Colo-
nial undertakings East Indian improved 10s. ; and
Great Western of Canada, 15s. Grand Trunk of
Canada were at about former quotations.
Mining Shares exhibited no variation of import-
ance. Brazilian Imperial realise 2to 2k, and
Alfred Consols 12k, 12k, 13.
Joint Stock Bank and Miscellaneous Shares show
a slight improvement. London Joint Stock have
advanced 51., and London and Westminster ss.
Oriental Bank and Provincial of Ireland realise
previous values. In the Miscellaneous Shares no
transactions have been repoited. '

B ttITISH FUNDS.—CLOSING PRICES--THIS DAY,
(From the Official Listi)
Business dote.
3 per Cent. Console Aunnitles 904 90 *
ndia, Stook.
I alit liona3, £l000
9itto, under I£loo9 25 d
Bank Stock for Account 219 17
C sots ior ACCOUL1,,
x .hequer Bills, .140.
£lOOO . .
i-500
S .... 4 d
PRICES OF FOREIGN FUNDS—THIS DAY.
Brazilian 5 per Cent.
Ditto, 1829 and 1839, 5 per Cent 994 x d
Buenos Ayres Bonds, 6 per Cent. Bl
Dutch Exchange, 2A per Cent., 12 Gull 6ls
Mexican 3 per Cent 2li 1
Russian Bonds, 1822, i; St., 5 per Cent lo9*
Spanish Beads, 3 per Cent. 404
Ditto New Deferred, 3 per Cent.

Dittt. Passive sr
Turiciab Bonds, 6 per cent 951
Ditto Account 9st
Ditto Guaranteed, 4 per Cent.
Dividends on the above payable:in London.
Dutch Ex:Lange, 2i per Con:;., 12 Guilders 641
Do. 4 per Cont. Certificates

THREE (Y CLOCK.
Consols, money 9Ol i
Consols for account, October 14 9Ol 6

TEE ELECTRIC TELEGRAPH.—The necessary arrange-
ments for establishing a direct line of telegraphic com-
munication along the coast between Madras and Calcutta
are being vigorously proceeded with ; the transport
-teamer Manilla starts immediately for Gaojam with a
supply of wire to be used on the new line.—Spectator,
August 13. •[The wonder is, and more the pity, that
it was not finished years ago.—Ed. Sun]
The extraordinary pressure for money on Tuesday
appears to have been caused chiefly by the receivers of
revenue having at the end of the quarter to pay over all
the balances in their hands to the Government account,
and the requirements on Wednesday were comparativtly
muderate.—Times.