The Sun.
London, England, 1857-10-29 00:00:00

MONEY MARKET

AND
ODI VIMIZJAL INTE LT, GENC

CITY, Two o'CLooK.

Letters from Liverpool report that the Cotton
Market yesterday manifested a heavy appearance,
and prices continued to decline. The sales
amounted to 2,000 bale., 300 of which were taken
by the speculators. The Railway Share Market
closed with more animation, and quotations
slightly improved.

Nothwithstanding the more favourable feeling
produced by the advices received yesterday from
Americo, much anxiety still exists to ascertain the
results of the cessation of remittances to this coun-
try. It is argued that a mouth hence the move-
ment may be resumed, but in the meantime it may
be asked how will our American houses be affected 1
So extensive have their operations been, that they
depended upon the specie brought by each mail to
keep their business in motion, but when these sup-
plies are suddenly stopped, and their credit
is impaired, the effects must inevitably be
very distressing. Numerous features have
tlready been recorded, and others must
ensue. Great difficulty is found in getting bills
discounted which are in any way connected with
the American trade, and under these circumstances
many respectable houses are perplexed and brought
down, although the extent of their assets does not
warrant the calamity. A large number of these esta-
blishments are looked upon with suspicion, and the
failure of Messrs. Thornton, Huggins, Ward,
and Co., and also of the Liverpool Borough
Bank, has increased the apprehension felt upon the
subject of credit. The 4th of the month will not
be passed over without some difficuty, for in other
departments of business the current high rates of
interest have occasioned much embarrassment.
After this severe financial derangement it can
hardly be supposed that an alteration in the exist-.
ing monetary laws will be deittyed. The present
system is fully proved to be inadequate, and if it
were not for the, apathy of the commercial interest
in the matter a reformation would have
long since been effected. In periods of com-
parative ease tho currency question scarcely
attracts a passing notice, the mercantile
public being more profitably employed in
their varied transactions than in agitating upon
the subject of monetary reform. In times of
stringency on the other hand, the merchants, &C.,
have enough to do in looking most carefully after
their affairs, and guarding against contingencies.
But until they enter into the subject with spirit, and
memorialise the Government, and otherwise show
their disapprobation of the system, they must ex-
pect to be periodically inconvenienced by revulsions
such as that now so generally and severely experi-
enced.

The meeting of the East Indian Railway Com-
pany has just been held, when a ftvourable report
was presented, showing the nett revenue of the
past half year for the part opened WAS 40,2151. 58,
sd. The chairman (Mr. Crawford) in answer to
a question, said :—" The injury done to parts of
the line by the mutineers was not of very great
consequence." The report was adopted.

The Bank Directors held a very long discussion
to-day, the Court having adjourned at fivelninutes
past one o'clock. No alteration was made in the
discount regulations, And it is probable that the
principal subject of debate was the position of the
Liverpool Borough Bank.

In the general Discount Market there has been
an increased demand for accommodation, but yet
it cannot be said that any severe pressure is expe-
rienced. Trade, although reduced in extent by
the late restrictions, is still sufficiently active to
maintain a good enquiry, and the slightly impaired
state of credit, consequent on the late failures, in-
duces many parties to increase their available
balances.

There has been more buoyancy in the market for
English securities to-day, and as buyers have pre-
ponderated, an improvement of about k per cent.
has taken place compared with the prices of yester-
day. The market, however, is rather uncertain,
and the fluctuation of per cent. frequently occurs.
When it was found that the Bank meeting was so
protracted, the market showed "a slight indication
of weakness, but renewed firmness is now visible.
Consols have been and 89 for money,
whilst for accoun's they were 88i 891. The pre-
sent prices are 881 89, and 89 to 891 respectively.
The New Threes were 88 to 88k, and the Reduced,
88k. Exchequer Bills were 15s. to lls. discount.
The Bonds were 97 Indian Bonds were 425.
discount., Bank Stock was 207 209, and India
ditto, 209, 210.

Very few transactions have taken place in
b'orelgn Securities, which are generally rather
flatter: Turkish 6 per Cents., for instance, have
been dull, at 87i and 88 ; and ditto 4 per Cents.
at 97k. Chilian 6 per Cents. are 1011 ; Grenada
New Active Bonds, 18 ; Portuguese 3 per Cents.,
43 ; and Spanish Deferred, 25g.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 5 6 ; Mexi-
can, 18i 19 ; Peruvian 4i per Cents., 75 77 ;
do. 3 per cents., 51 53 ; Portuguese 3 per Cents.,
43 44 ; Russian 5 per Cents., 105 107 ; do. 4i
per Cents., 96 98 ; Spanish 3 per Cents., 40i 41;
do. Deferred, 25i I ; do. Certificates, ; do.
Passive, —.
The principal business done this morning in the
Railway Share Market has been in reference to
the settlement of the usual balf-monthly accounts
Easter❑ Counties, Great Westerns, South-Western.
have declined about 10s. ; Midland, 15s. ; and
Caledonians, 11. ; North-Eastern (Berwick), South-
Eastern, Buttons, and Great Northern advanced
53. ; and North-West-rns about 108. In the
Foreign and Colonial undertakings the dealings
were limited. Dutch Rhenish receded about 53. ;
Grand Trunk of Canada improved 15s. ;' and
Great Western of Canada about is.

Mining Shares are in moderate request. Alfred
Consols realise 14 Tincroft 3i, Gr.at South
Tolgeis 16 and St. John Del Rey 13.
Joint-Stock Bank Shares are flat. Bank of
Australasia are at 80. British North American
57i. London and County have declined to 27i i•
London and Westminster 47 to 47k.
Miscellaneous Shares are quiet. Australian
Agricultural have improved to 22k. Electric Tele-
graph realise 100, and Royal Mail Steam 68k.

B LITISII FUNDS.—CLOSING PRICES—THIS DAY.
(Iron the Official List;)
Business done.
3ink Stock ..
J ,er Ctrit. Reduced Annuities
3 per t.A-.111-. Consols Anntiiiics BBl !'i 81
-few 3 per Cent. Annuities B3A 8 4 8 d
Long Annuities, expire sto Jan. 1860 1 1.5-16
Ditto 30 Years, expire 10th Oct., 1859 1 13.16
a Ditto 30 Years, expire sth April, 1685 l7g
fa lia Stock. 209 10
fadia 11...illits, £IO,JO
o.tto, under 1.:1000 42 45 d
0 ot. soli for A econr• • ,
Ea:lover Bills, ';d.
i1000
S ~..: .. ...... ... ..... ..
Fschequer Bonds, 165..1, 3i par Cent.—
Ditto, 1559
PRICES OF FOII,EIGN FUNDS—THIS DAY.
Cailiau Bonds, 6 per Cent. lOl
Danish Bonds, 3 pet Cent., 1825
Ditto 5 per Cent.,
uirenada /New Active, 24 per Cent.
i'ortuguese Bonds, 5 per Cent., Con. 1841 --
Ditto 1853, -3 per Cent . 43 i
ip,ilifil cit)l,ClB, 0 per Cent. -.A
Ditto Few Deferred, 3 per ticu-.
ruikihi, Bonds, t. p.r cent 874
Ditto Guaranteed, 3 per Cent.
Dividends on the above payable in London.
Ditch Ex,l.ang,,, % per Con;., 12 Guilt-irs 63i
Do. 4 ~cr ('ent. Certificates
THREE O'CLOCK.
Consol,, money
Consols for account, November 10 B9 i

ADELPHI THEATRE.—Last evening a new apropos
sketch. caned the " Drapery Question, or, Who's for
India," was produced w)0 SUCCW.. The principal cha-
racters were eu.tained by Me,,Erd Wright, Paul Bsdford,
0. Selby (the author), Miss Keel, y, and Miss Wilton.
rhe title is .tufficiently suggestive, without entering into
the plot. The house was crowded.
The Duke of Modena has issued a decree relieving
.ine growers of all tax's for the year 1857 on all such
lands as are exclusively cultivated as vineyards, Thise.
who have derived some profit from their vineyards by
sowing corn in them are to pay one-third of the usual
:ax99. The duty on the the consumption of wine is
also suspended until September, 1858.