The Sun.
London, England, 1857-10-20 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE. 81u.

CITY, Two O'CLOCK.

Letters from Liverpool mention that the Cotton
Market yesterday closed heavily, and prices tended
downwards. The sales were estimated at 3,000
bales. The Railway Share Market closed quietly,
and values were without alteration.
In the Colonial Produce Markets, the alteration
of the Bank rate of discount to 8 per cent. has not
had• ranch influence at present, but a general
restriction of business will no doubt be experienced.
The demand for most of the principal articles is
confined to immediate wants, but the quotations
are firm and both sugar and coffee are dearer.
.Tallow is in request, and P.Y. C. has advanoed to
565. 9d. per cwt. on the spot. The public sale of
Indigo yesterday passed off with less firmness, but
upon the whole, prices have been well maintained.
The series will terminate to-day.

Additions are being made almost daily, to the
list of failed firms, whose difficulties have been
caused by the disturbed btate of affairs in America.
It was announced, yesterday afternoon, that Messrs.
Auld and Buchanan, of Glasgow, merchants and
shippers had succumbed, and the liabilities are
estimated at 100,0001. The numerous casual-
ties reported by the Ariel will, doubtless,
occasion severe embarrassment on this side,
but in other departments of business not
connected with the United States, there is a free-
dom from disaster, and notwithstanding the in-
creased dearness of money, no general distress is,
for a moment, anticipated.
The Agamemnon, Captain Hyne, London to
Calcutta, with part of the 10th and 84th Regiments,
Was spoken with (22 days out), from Dartmouth,
lat. 1.32 S., 22.36 W. The Heather Bell, Arms-
'worth, from Victoria, has arrived in the Downs in
69 days, havingl9,674 oz. of gold on board, valued
at 78,5961. This small remittance is very oppor-
tune, considering the current demand fOr gold,
and if further arrivals soon take place, they will
materially assist in checking withdrawals from
the Bank, which, is spite of the advance of the
minimum to 8 per cent., will doubtless continue.
The present rate of exchange at New York will St.t:
admit of imports of gold being made at a large go
profit ; and hence it is imagined that the existing 25
restrictions will not entirely prevent the efflux. 100
25
The advance in the minimum rate of discount to 50
8 per cent. has not produced so much excitement 20
as might Save been expected from so important an st.
alteration. The advises from America had pre- 50
pared the public for the change. As it had not
been adopted in the early part of the day, but was
delayed till half-past 2, an impression prevailed St.
that it would be postponed till the parlour meet- sstt:
ing on Thursday next. It was stated, how- 25
ever, that a large order for sovereigns 2505
had been received on American account, st
and this rendered it necessary to impose st.
10
additional res trictions with the utmost promptitude.
The discount houses have raised their terms from 20
7to 7 per cent. for loans at call and for short ig
notice. This, no doubt, will insure a liberal supply st.
from the public, who may be attracted by such a
20
high rate of interest ; and, as the demand must 10
necessarily be checked, it is expected that the st.
money market will speedily show some symptoms sstt.•
of relaxatien. This measure is even more sttin-
-500
gent than any adopted in 1847, for when 8 per st
cent. was then established a distinction was made 10
with regard to the date of paper tendered for ne-
-4
gotiation, but in the present instance that rate is
20
applicable to all description of bills. 20
The Bank of France have raised the rate 2255
of discount to i per cent., the highest 25
point, we believe, ever attained, the old
charter baying limited the charge to 6 per cent. St.
This determination to act, as occasion may require, 25
has given satisfaction, as it is only by the exercise E
of the most restrictive regulations that the autho- 50
cities can combat with the extraordinary pressure, 20
and he instrumental in eventually bringing affairs
10
round to a healthy condition. 5
Advises just received from Paris, by telegraph, 20
report a decline in the Three per Cents. Rentes to 10
66f. 50c. 20
in

The Funds have been buoyant to-day, and a re- =—
action of per cent. from yesterday's closing prices
kas taken place. Business ie dull, but steady pur- 118
chases for investment are made, and these 18
strengthen the market. Until it is ascertained 18
whether the measure adopted in Threadneedle-
-100
street, will prevent the drain of gold to America, 100
the operators will no doubt use great caution.
100
Consols have improved to 884 a for money, and 2C
to 883 A for account. They are now 88f 4 and 88l
respectively. Exchequer Bills are flatter, viz.,
15s. to 10s. discount. India Bonds are 235. discount.
The New Threes, 87 ; and the Reduced 87±
Bank Stock, 212 to 214 ; and India ditto, 208 20
to 210. 100
Foreign Stocks were very dull. Turkish 6 per is,g
Cents. however are 874 88, being firmer. Swedish
4 per Cents., 83 ; Russian, 106 ; Peruvian 77 ; andloo
Dutch 4 per Cents., 97±. 20
The following are the nominal prices of Foreign 20
Stocks :—Grenada Deferred Bonds, 5 6 ; Mexi-
can, 19 19± ; Peruvian 4± per Cents., 75 77 ; 100'
ditto 3 per Cents., 52 54 ; Portuguese 3 per Cents., 1000
43 44 ; Russian 5 per Cents., 105 108 ; ditto 4± 100
er Cents., 95 97 ; Spanish 3 per Cents., 401 40i ;
ditto New Deferred, 25g 251.

_ .
In the Railway Share Market this morning a
slight downward tendency has prevailed, notwith-
standing the buoyancy of the Funds, some of the
principal lines being at a slight decline upon pre-
vious quotations. Great Northern, North-Eastern
(Berwick), and Oxford, Worcester, and Wolver-
hampton, receded about ss. ; Lancashire and
Yorkshire, North British, and South-Eastern, 10s. ;
Eastern Counties, 15s. ; and Manchester, Sheffield,
and Lincoln, and Midland, 1/. The French and
Canadian lines were also at depressed quotations.
Paris and Lyons declined 10s. Lombardo-Venetian,
10s., Great Western of Canada receded 55., and Grand
Trunk of Canada Jl. to 11. 10s. East Indian were
dull, and declined about 11.
Mining Shares exhibited little variation in value.
Alfred Consols were dealt in at 131 14, St. John
del Roy at 13/, and Lusitanian at 1.
Joint Stock Bank Shares are steady. Oriental
Bank have receded about ss.
In the Miscellaneous Market prices remain much
the same as before.
The meeting of the General Omnibus Company
to-day was adjourned till further notice.

BRITISH FUNDS.—CLOSING PRICES—THIS DAY.
arm the Official List:)
Businers done.
rook Stock
3 per Cent. Reduced Annuities
:-, per Cont. Consols Annuities BB,, 8 it ?2.
Now 3 per Cent. Annuities
Loa!! Annuities, expire sth Jan. 3R60 2 1-16 2
Ditto 30 Years, expire 10th Oct., 1859 1 13-16
Ditto 30 Years, expire sth April, 1885 , 17i
India Stock. 2lO 8
ladia Bonds. £l9OO '
f/itto, under £lOOO 23 d
COLsols for ?,e.r.onot,
Ezehecgier 81110, 20.
£lOOO ........... ............... . lO 15 12 d
10
8 nail. ........ .....
PRICES OF FOREIGN FUNDS—THIS DAY.
Brazilian 5 por Cent.
Danish Bonds, 3 pet Cent., 1.825
Mexican 3 per Cent
Peruvian Bonds, 41 per Cent
.
Ditto Account .... .
Russian Bonds, 1822, St., •5
per Cent IOG
Spanish Bonds, 3 per Cont.
Ditto Account ............. ............
Swedish 4 per Cent. ........................
ends, per cent .........
Ditto Account B7A
Ditto Guaranteed 4 per Cant. ........... 98
Ditto Account
Divtdendi sertlie above payable in London.
Dutch .Ex,!l'angc, 2s per Cent. 12 Guilders 63i
Do. 4 per Cont. Certificate;
7HREB O'CLOCK,
Conzola, money ......
Conaols for account, November 10 Mt;

. -
401

RETURN OF THE PRINCE OF WALES.—DOVER, Mon
day Evening.—His Royal Highness the Prince of Wales
arrived at 7.30 in the Banshee, from (Mend.
THE PRICE OF BREAD IN PARIS.—The consequences
of an abundant harvest are now indeed felt throughout
France. The price of bread has fallen to 14 sons the 4:b
loaf in Paris, and to 12 sous in several of the depart- 1 1
Manta. 1