The Sun.
London, England, 1861-12-04 00:00:00

ZiONEY MARKET AND CITY NEWS.

CITY, Two o'CLocI.

Owing to the eouralorci!d engagements due to-
day, the 4th, there has been rather more inquiry for
discount aecomrooda,tion, but the Money .Market

has nevertheless remained in a quiet and easy
position, owing to the continued abundance of

floating capital.
There were no bullion operations of public im-
portance at the Bank of England yesterday.
The Foreign Exchanges yesterday afternoon
Were generally rather higher.
Gold is now about 1-10th per cent. dearer in
London than in Paris. _

The Magdalena has arrived from the Brazils
with £44,000 in specie.
The dividend warrants on New Granada Bonds
are announced for payment, and the half-year's
interest on the Mantanzas and Sabanilla Ltiilroad
Bonds will be payable on and after the 10th inst.
A call of 53. per share has been made by the
directors of the Taranaki Steel Iron Company to

be paid before the 26th inst.
In the Liverpool Cotton Market yesterday
business was extremely dull, and prices were very

irregular. The sales :vere barely 2,000 bales.
It "Lranspired yesterday afternoon that Messrs.
Fairhead and Son, seedsmen, had suspended pay-
ment, but the amount of their indebtedness is com-

piratively small.
The Teutonia, which left to-day for New York,
took £6,000 in specie.
The half-yearly meeting of the African Steam
Ship Company has been held to-day—Mr. P. D.
Hadan in the chair. The report, which was adopted,
stated that the amount brought down to the credit
of the revenue account was £7,621, and it was there-
fore agreed that the usual dividend of 7s Od per share,
free of income tax, should be declared for the half-
year ending 31st October, 1861. This payment,
which is at the rate of 7 per cent. per annum, will
absorb £4,816 ; and it was resolved that £2,000 of
the balance should be transferred from the revenue
account to the fund set aside for the purpose of
covering the lons sustained by the sale of the Hope,
in addition to the amount already written off for 119

that purpose by the directors from the profits of
the half-year.
The market for Public Securities to-day has
been in a very variable state, owing in some mea-
sure to the operation of the settlement which is
now in active progress. At first the quotations
appeared favourable, but upon a pressure of sales a
decline took place. Consols for transfer were 901 1,
then receded to 90. 1, at which they now remain.
For the January account they are 901 The New
Threes and the Reduced are flat at 911 a, Exche-
quer Bills, March, at I3s. prem., ditto June, are
firm at 14s. to 18s. prem., India 5 per Cent. Stock
is 1021.
Foreign Securities have exhibited considerable
fluctuation ; on the whole, however, business has
been dull. Turkish 6 per Cents. are 78 to 79;
ditto, 1858, have been dealt in at 69 and 671, and
are now quoted 671 681; Mexican have been 271,
but have since declined to 2q 4 ; Spanish Bonds
have been particularly depressed, the 3 per Cents.
being fully 1 per cent. lower, viz., 50 ; the De-
ferred have receded to 41-a- 42 ; Italian 5 per Cents.
to 87i ; and Venezuelan to 211 22.
In the Railway Share Market increased heaviness
has prevailed, and the dealings have been of a
limited character. Great Westerns, and North
Eastern (Berwick), have declined 55.; Eastern
Counties, Great Northern, Brighton, South Eastern,
and Midlands, 10s. ; Lancashire and Yorkshire, and
Manchester, Sheffield, and Lincoln, 15s. ; and
Caledonian, Ll.
The Foreign and Colonial lines have been heavy.
Sambre and Meuse have declined to 6‘a ; and
Great Luxembourg to tit ; Grand Trunk of
Canada 18 ; East Indian 1001-; and Great Indian
Peninsula to 991 100.
Joint Stock. Bank and Miscellaneous Shares con-
tinue inactive, at barely previous rates. London
Joint Stock realise 331 ; Australian Agricultural,
27* ; Peel River Land, 48 to 481 ; and Peninsular
and Oriental Steam, 701.

BRITISH FUNDS—ONE O'CLOCK
3 per Cent. Reduced Annuities 9Ol i a 1
3 per Cent. Consols Annuities
New 3 per Cent. Annuities 99aiiii
Annuities, 30 yrs, expire Rh Jan. 1880 —
Ditto for 30 yrs, expire sth April, 1885 l5l
India Stock
ri4,,, 51,02. (1,....- inog 4 1 Q
Ditto Enfaced Paper, 4 per Cent —
Ditto 5 per Cent. 97
Ditto 51 per Cent .. lO3
Consols for Account, Dec. 5
India Stock for Account, 5 per Cent
March. Juno.
Exchequer Bills, £l,OOO 2d.... 18 14
Ditto £5OO .. 13 18 14
Ditto Small — 18 14
FOREIGN FUNDS—ONE O'CLOCK.
Brazilian 5 per Cent '
Ditto 41 per Cent, 1860 ....
Chilian 6 per Cent.
Ditto 41 per Cent.
Mexican, 3 per Cent
Ditto Account
Russian 5 per Cent. 1822, £ St —
Ditto 3 per Cent. 1839 .. 59
Sardinian 5 per Cent
Spanish 3 per Cent
Ditto Account
Ditto New Deferred .
Ditto Account
Turkish 6 per Cent. —
Ditto Account 7B
Ditto New Loan
Ditto Account
Ditto Guaranteed, 4 per Cent.
-Venezuelan 3 per Cent
Ditto Account
Dividends on the above payable in London.
Dutch 21 per Cent., Exchange 12 Gull —
'.litt., Certificates, 4 Der Cent...
Italian, 5 per Cent., 1861 674
TWO O'CLOCK.

Consols, Money
Ditto Account

COURSE OF EX,3HANGE.—YESTERDAY.
Amsterdam

12
12
25 60
25 60
13 9
25 32
25 62
25 62
119
14 40
14 40
33i

Ditto
Rotterdam — 12
_
Antwerp.
Brussels 25 52
liamburgh — 13
Paris
Ditto
Marseilles
Frankfort on Maine — 118;
Vienna
Trieste
Petersburgh — 33!
Berlin
Madrid
Cadiz
Leghorn
Milan
Genoa
Naples .
Palerwa
Messina
Lisbon
Oporto
Rio Janeiro
_
New York -
Foreign Gold in Bars (Standard) ....
per oz. £3 17 9
~ 0 0 0
Mexican Dollars
Silver in Bars (Standard) ..... ....
" South American Doubloons

48#
48f
25 67}
25 67f
25 671
39a
1184
118;
52
52k

481
48
25 75
25 72.
25 72
39i
1181
119
52}
52a

THE TRADE OUTRAGE AT SHEFFIELD,

TO THE EDITOR OF THE SUN.
SIR,—In your paper of to-day, in allusion to the
diabolical outrage perpetrated in my warehouse, I
find my name is mentioned in error. Instead of
-Pattison, it ought to be " Alex. Paterson." I en-
close my card, and remain, sir, yours respectfully,
ALEX. PATERSON.
New George-street, Sheffield, Dec, 2, 1861.

IRON-CASED SHIPS.--Our Warriors, and Black
Princes, and Royal Alfreds, are virtually line-of-battle
ships—the only line-of-battle ships, probably, that will be
thought of five or ten years hellos. We cannot well send
them to protect our foreign commerce, or to quiet our
troubles in Japan, or New Zealand, or Mexico; nor could,
we even afford to keep many of them cruising for a year or
two along the coasts of the United States, if our cousins
should demand our hostile services. These are purposes
for which frigates, corvettes, sloops, brigs, despatch ves-
sels, and gunboats are required ; and, unfortunately, all
the vessels of these classes which we at present possess
and are building, are as combustible as those timber line-
Of-battle ships which we have for ever superseded. Hero,
then, is a further reconstruction of our navy to be made, as
great and as inevitable as any we have made hitherto.
Every month's delay in applying the iron-cased principle
to the smaller ships that we build, will add to our financial
difficulties sooner or later. Every unprotected wooden
ship that we launch, is another added to a fleet already
virtually condemned ; and the sure result of building such
vessels will be an extraordinary demand hereafter for
millions of money to repair another great deficiency
occasioned by neglect,—" Cornhill Magazine" for .De-
ember.