The Sun.
London, England, 1857-11-07 00:00:00

IVIOI‘..TEY MARX ET

AND
COMMERCIAL INTELLIGENCZ,

CITY, Two o'CLocT.

The Liverpool Cotton Market yestt>rday closed
without any particular alteration. The sales for
the week are 21,000 bales, and prices have receded
Fl. to d. per lb.

The Bank of England returns are completed to
Wednesday last, in accordance with the new
arrang.ment, and the operations of the establish-
ment during the nine days, viz., from the 24th
ultimo, have been of the most unfavourable kind,
fully justifying the course liken by the Directors.
In fact, the rise to 9 per cent. under the existing
system could not be prevented, and, during the next
few days, every movement will be narrowly watched
in order to ascertain, if possible, whether a further
elevation is probable. The reserve of notes ex-
hibits a very unsatisfactory figure, and scarcely ex-
ceeds 2,000,0001., while the bullion has suffered to
the extent of nearly 900,0001. The other securities,
again, have undergone an unsatisfactory change,
the addition being more than 2,000,0001. Alto-
gether, therefore, the position of the Bank is
critical, and cannot withstand an increase, or even
a continuance of the crisis, without some relief is
afforded by the Leg;slature. Subjoined are the
principal items of Wednesday's return, and the
changes it presents compared with that of the
24th ultimo

Active Circulation
Increase . 1.• •• 83,500
Bullion 8,497,780
Decrease
Rest
Increase
Public Deposits
Increase
Other Deposits
Increase
Seven-Day and other 8i115... 813,197
Decrease
Government Securities
Decrease 134,437
Other Securities
Increase
Notes unemployed
330,525
Decrease

The official return of the exports of precious
metals from the port of London for the week end-
ing Thursday last is as follows :
Gold Coin ... Belgium ... 3,120 Om
„ „ Boulogne ... 200 „
„ Bars Boulogne ... 20,000 „
Silver Coin ... Belgium ... 400 „
„ Boulogne ... 1,200 „
„ Bars,— Boulogne ... 1,200 „

The demands for discount accommodation in
Lombard-street and at the Bank of England is
less pressing, but the applications made towards
the close of the week scarcely afford a reliable index
of the current requirements. Unless a kind of
Panic feeling is engendered, there can be no doubt
that the demand will relax, because business suf-
fers, and being so much contracted will require a
proportionably smaller amount of capital. In
Mincing-lane, sales can scarcely be effected, even
at most reduced quotations ; and in the textile
manufacturing districts the same languor prevails.
If trade is thus repressed, the inquiry for discount
accommodation is likely to experience some dimi-
nution.

About 15,0001. in bar gold was taken out of the
Bank yesterday for remittance to the Continent ;
and in addition 35,000 sovereigns were despatched
for Lisbon. Owing to the continued importation
of silver from France and Belgium, it is feared
that the advance of the rate of discount to 9 per
cent. will not stop the withdrawals from the Bank
which are required for the payment of these sup-
plies.
During the early part of the day there was con-
siderable buoyancy in the Market for Public
Securities.. An idea seems to have seized some of
the speculators that the worst has almost been at-
tained, and that the rate of 9 per cent. cannot be
of long duration, and thus they are buying largely
for the next account. This stimulated an advance
of per cent., and the market has closed with a
steady appearance. Consols for money and the
10th instant have been dealt in at 88i 881
'Arid for December account they were 89/ The
New Threes are 874 88 ; the Reduced, 882- ; and
Exchequer Bills 255. to 18s. discount. Bank
Stock was 211.

In the Foreign Market also there is increased
firmness, and about the usual amount of business
has been transacted. Turkish 6 per Cents. have
been 87 to 871, and they closed at 87± L The 4
per Cents. are 961. Sardinian are 89 ; Mexican,
1811 ; and Grenada New Active, 171.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 5 6 ; Mexi-
can, 18 ; Peruvian 41 per Cents., 75 77 ; ditto
8 per Cents., ; Portuguese 3 per Cents., 42i
431 ; Russian 5 per Cents., 104 106 ; ditto 4i per
Cents., 96 98 ; Spanish 3 per Cents., 40 ; ditto
New Deferred, 25± 25-1.
The Railway Share market has been rather
buoyant this morning, and several of the leading
lines are at improved quotations. North-Western.
South-Western, and North British improved 55.;
Lancashire and Yorkshire, Manchester, Sheffield,
and Lincoln, and Midland, 10s.; and Eastern
Counties and Great Western, 11.; Caledonian and
South-Western were a shade lower. The Foreign
and Colonial undertakings are at slightly improved
quotations. Paris and Lyons improved ss. ; Great
Western of Canada, ss. ; Grand Trunk of Canada,
ss. to 10s., and Fast Indian, ss.
Joint-Stock Bank Shares are steady. London
and Westminster declined 6s. ; Bank of Egypt,
London Joint Stock and Ottoman Bank were
dealt in at previous rates.

The Miscellaneous Shares exhibited no change
requiring special report.