The Sun.
London, England, 1857-01-19 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two O'CLOCK.
The Liverpool Cotton Market on Saturday closed
steadily, and, compared with the rates current on
Friday, prices of all kinds were without alteration.
The sales were estimated at 6,000 bales. The
Railway Share Market was quiet, and prices were
rather lower.
The accounts received from the manufacturing
districts in the North of England generally repro-
) nt the business of the past week as being satis-
ctory. There does not appear to have been much
activity, but full prices have been maintained for
most kinds of manufactures. At Manchester opera-
tions are still contracted, in consequence of the high
rates current for cotton, and the continued upward
movement. On this account, therefore, the aggre-
gate transactions have not been numerous, but,
owing to the increasing supplies of the raw mate-
rial, an early reaction is not deemed improbable.
At Nottingham there is not much alteration to
report, but fuller prices are demanded, and the
inquiry for most articles is quiet. In Leeds a good
deal of animation has prevailed, and at Bradford a
considerable business has been done in the worsted
department. The manufacturers are fully em-
ployed, notwithstanding the enhanced value of
cotton and wool. From Birmingham we learn that
the demand for iron is rather brisk, both for home
use and for exportation.
The advices from New York per steamer Europa
described the money market in that city as being
more stringent than at the date when the previous
mail left. The latest Banks Return.shows a consi-
derable augmentation in the loans and discounts,
with a material falling off in the specie. Until the
spring trade is over no relief is anticipated, and in
the meantime the commercial community are com-
pelled to pay high rates for discount accommodation.
The meeting of the Union Bank of Australia has
just been held. The business passed off satisfac-
torily, a dividend of 10 per cent. for the half-
year (at 20 per cent. per annum) being declared,
out of the profits of the half-year, amounting to
20,5281. ls. sd. The report was very cheering as
to the future prospects of the trade of the colony,
and the affairs of the bank were stated to be in a
satisfactory condition. The reserve fund was now
200,0001. After some dismission the report was
adopted.
An important meeting of merchants, brokers,
and others is now in progress at the London
Tavern, to effect an alteration in the law respecting
delivery orders, warrants, bills of lading, &c., in
consequence of the late decision in the ca se of
Kingsford v. Merry. Baron Rothschild was in
the chair. A memorial to the Government was
adopted for an alteration in the law.
Although full rates are current, the demand for
discount is not quite so active, but this pause is no
doubt only temporary, as the requirements of the
commercial community are increasing.
The inquiry for silver is very brisk, and in
order to effect extensive purchases on the
Continent large quantities of gold are leaving for
France, dm On Saturday 80,0001. was sent from
the Bank to that country ; and, in the absence of
Australian arrivals, these shipments must be tell-
ing rather seriously on the stock of the precious
metals at the national establishment.
Although tke aspect of the Money Market is by
no means encouraging, and little inclination is
evinced to enter into speculative operations, the
value of the English Funds remains without any
change of importance. There is certainly
downward tendency, and prices are per
cent. lower than on Saturday, but no vio-
lent fluctuations occur, and the appearance
of the market is quiet. Sales of stock have been
made for delivery to-morrow, which has no
doubt contributed to render the market heavy
and unsettled, but the aggregate transactions
are exceedingly limited. Consols for transfer
have been 931 and they are now about 93f 4.
For the account dealings have been recorded at
93f The New 3 per Cents. are 94 to 941, the
Reduced 931 and Exchequer Bonds 981 to 99.
The Bills are 2s. discount to 2s. premium. Bank
stock is marked 216 to 218, and India Stock 220 to
221.

The Foreign Market is very dull. Turkish 6 per to
Cents. are dull at about 941 to 95, and the 4 per 18
Cents. are nominally quiet. Spanish New De- 20
ferred are 23i ; Dutch 2} per Cents. 641 ; Guate- 20
mala Bonds, 60 ; Chilian 6 per Cents., 104 ; and A 6
Buenos Ayres, 83i. 0
The following are the nominal prices of Foreign 20
Stooks :---Grenada Deferred Bonds, 6 7 ; 10
can, 211 t ; Peruvian, 78 79 ; ditto 3 per Cents., 10000
50 6 ; Portuguese 3 per Cents., 43 5 ; Russian 20
5 per Cents., 106 8 ; ditto 4 per Cents., 95 7 ;
St.
Spanish 3 per Cents., 40 ; ditto New Deferred, 100
23i 24 ; ditto! Certificates, 5i 6 ; ditto Passive,
tOO
5i O.
20
A very limited amount of business has been to
transacted in Railway Securities this morning, Z 0
and in most instances a decline of about ±to per I:
cent. may be noticed on the values of the principal too
lines. Caledonian declined ss. ; Great Western, 100
I.os. to 15s. ; Lancashire and Yorkshire, ss. ; and
North Eastern Berwick, ss. North-Western, 20
Brighton, and South Wales, maintained about 2,g
previous values. The French lines have been 20
rather depressed, Paris and Lyons having declined tO
ss. to 105., Great Luxembourg receded 55., and ..V)
Dutch Rhenish ss. The Canadian lines rule ra-
ther lower, Grand Trunk of Canada being 51 to
___
52 ; Great Western, 24i East Indian are 1(
steady, and Scinde are quoted 7i. 2(
Joint-Stook Bank Shares are dull, and prices 21
have generally receded, with the exception of II
Union of Australia, which have improved about
10s. In Miscellaneous Shares the Electric Tele- 22',
graph, London General Omnibus Company, Peel 2
River, and Crystal Palace maintain previous quo- 2
1
tations. 2

BRITISH FUNDS.—CLOSING PRICES —THIS DAY.
(From the Official List.)
scon.ss done
sank Stock
3 per Cent. Reduced Annuities
3 per Cent. Consols Annuities
New 3 per Cent. Annuities 944 4 31
New 2 i per Cent. Annuities
India stock
judis Bonds, £lOOO
Ditto, under £lOOO 2 d
Consols for Account 93i 3 i i
F. alequer 13111 s, 24d
£l000
£5OO 2 p
Small
Ditto Bonds, 185 S, 3i por Cent.. —
Ditto, 1859
PRICES OF FOREIGN FUNDS—THIS DAY.

Branlisn Fonds, 5 per Cent.
Do., New, 1829 and 1899, 5 per Cent 101;
Buenos Ayres Bonds, 6 per Cent. B3i
Chills* Bonds, 6 per Cent lO4
Equador New Consolidated 1 li
enatemals Bonds, 5 per cent 6O
blexieau 3 per Cent
flpanith Bowls, 3 per Cent ... ...•. "••
Ditto New Deferred, 3 per Cent.
Spanish Committee Cert. of Coup. n9t fun 6
Turkieh Bonds, i per cent
Ditto kceettat

Ditto Guaranteed, 4 per Cent. —
Ditto Account ... ..... lO3
Dtvidends on the shove savable In Lone n.
Dutch Exchange, 2i per Cont., 12 Guilders 641 5
THREE O'CLOCK,

11
Comb', money 93 i
03i
DIU* Account (Fobruaty 5)...

HILARY TERM, 1857.

Public examination of the students of the Inns of
Court, held at Lincoln's-inn Hall, on the Bth, 9th, and
10th days of January, 1E57.
The Council of Legal Ednoation have awarded to
A Studentship of fifty
guineas per annum, to
continue for a period
of three years.
Certificate of honour of
the first class.

William Ritchie, E9q.,
Student of the Mid. Temple,

George Alfred Marten' Esq.,
Student of thelnnerTemple,
Richard Copley Christie, Esq.,
Student of Lincoln's-inn,
John Edwards, Bsq.,
Student of Linooln'e-inn,
John Robbins, Esq.,
Student of the Inner Temple,
By order of the Conn,
(Signed) RicHA
Council Chambers, Lincoln'.

Certificates that th.y
have satisfactorily
pa3sed a public exami-
nation.

tD BETHELL, Chairman,
in, Jau. 15.