The Sun.
London, England, 1857-02-23 00:00:00

MONEY MARKET

AND
[COMMERCIAL INTELLIGENCE. shr'

CITY, Two o'CLoor.

Letters from Liverpool mention that the Cotton
Market, on Saturday, closed firmly, and, compared
with Friday's rates, prices of all kinds were un-
changed. The sales were estimated at from 7,000
to 8,000 bales, 500 of which were taken by the ex-
porters, and 1,500 by the speculators. The Rail-
way Share Market closed steadily at a slight im-
provement in value.
The dearness of raw materials checks business in
the manufacturing districts in the North-west of
England ; but trade is nevertheless exceedingly
healthy. At Leeds during the past week numerous
transactions were concluded for the home and
foreign markets, but there was an absence of much
animation. In Bradford the spring demand has
commenced, and extensive purchases of seasonable
fabrics have imparted additional firmness to prices.
The late advices from India have favourably affected
some of the Manchester markets, and in the other
towns a moderate business is transacted at steady

picas.
On Saturday afternoon the failure of Messrs. D.
Franghiadi and Sons, Greek merchants, was an-
nounced, with liabilities estimated at from 75,0001.
to 83,0001. The firm had connections at Galatz
and Alexandria ; and it is alleged that the estate
will enable the creditors to be paid in full.
Accounts have been received from New York per
steamer Arabia, which brings 40,145/. in specie,
probably on French account, to the 9th inst. t
These report increased heaviness on the Stock it
Market, owing to the stringency of money, the 1
active shipments of specie, and the large imports
tg
of foreign goods. From these causes it is presume 1 3
that the value of discounts will be maintained for 21
the present. The last Bank Return completed to St.
the, 7th was unfavourable, showing an increase of st.
$1,090,380 in the loans and discounts, and a do- ig
crease of $1,047,931 in the bullion. 12)
Although some favourable symptoms have re- 25
cently been apparent in the general money market 25
its position has not materially improved. The Iso
t.
only difference yet apparent is that the demand 10
instead of exhibiting continuous pressure is at
St
times less active. During these intervals the St
best bills can be negotiated I or perhaps per 5(
cent. below the minimum, but it is generally 1201
remarked in Lombard-street that no diffi- 2
oulty is found in employing all the capital at
command at that official quotation. On Satur- '
day the inquiry was very brisk, but this morn-
ing it is quieter. The numerous dividends now in
course of payment on all the principal railway shares
and many other classes of negotiable property no
doubt tend to relieve the market, but the diversion
of capital from its usual channels through the specie
operations recently so much in favour assist
in maintaining the stringency.
,Preparatons
are now in progress for the remittances by
the next steamer to India and China which
leaves on the 4th proximo, and large purchases of
silver will be effected on the Continent for that
purpose. This will entail the necessity of with-
drawing gold from the Bank, unless some of the
oyerdne mails from Australia arrive with sufficient
supplies in time to avert it. On Saturday about
40,000/. was sent away, showing that this
unsatisfactory movement has not yet ceased.
As it is known, however, that several
Vessels are en route from Victoria, presumably
with extensive supplies of the precious metal, not
the slightest uneasiness is created, especially as the
bullion in Threadneedle-street during the late drain
was so well maintained, and the foreign exchanges
are becoming more favourable t 3 this country.
Last week the receipts of the precious metals
amounted to about 374,0561., and the exports to
801,4321. -the latter showing an excess of 427,376/. 'k
The Ocean Chief has already arrived from Vic-
toria with 72,312 ounces of gold, and the Black-
wall is immediately expected with 80,678 ounces, 5
making a total of 152,980 ounces, valued at
611,9201. The Mermaid, the Vocalist, and the
Maid of Judah are now expected with further I
supplies.
The meeting of the Buffalo and Lake Huron 10
Railway Company was held to-day. The report 220
0
• stated that the line was opened on the let of Nov., -
since when the traffic, had gradually increased
from 3701. weekly to 6701. weekly, in January last.ulg
The capital of 410,0001. would be found sufficient
to accomplish the objects contained in the prospec•
leis. The outlay of the company hitherto has been
1'00",
228,451/. 3s. 9d. 100
Continued weakness is exhibited in the prices 100
of English Securities, but it results chiefly from the 20
uncertainty felt with regard to the proceedings in 20
Parliament in connection with the Budget. The 2200
large arrivals of &old from Australia, and the pro- 17
apect of a further immediate supply, are certainly s?
in favour of values, but their effect bas not yet 20
been important. The nature of the speculative 100
engagements has no doubt something to do with 102 g
the flatness of values ; but the position of the
market is strong, and its tendency is to improve, 100
notwithstanding tha dullness which temporarily 20
exists. Consols for transfer have been 93i and 20
for the account 931 1. The New 3 per Cents. are
04k 1, arid the Reduced 93l 94. Exchequer Bills 100
are steady at 38. premium, and the Bonds are too
100
marked 9811 /. 100
Very few transactions have been reported in the
Foreign Stock Market, but inmost instances prices r)
have been well maintained. Notwithstanding the 200
decline in the Consol Market Turkish G per Cents. E
have been 951, and the 4 per Cents. adranced to 20
1011. Spanish 3 per Cents realised 40g. Peruvian 2200
4i per Cents. were dealt in at 801. Portuguese 3 --
per Cents. realised 44a, and Russian 41 per Cents.
advanced to 981. 10
The following are the nominal prices of Foreign 25
Stocks :-Grenada Deferred Bonds, 64 7 ; Mexi- 20
can, 22 221 ; Peruvian, 80 81 ; Ditto 3 per 6
cents., 55 56 ; Portuguese 3 per Cents., 44 46
, 20
Russian 5 per Cents., 109 111 ; ditto 4i pr Cents., 20
96 98 Spanish 3 per Cents., dittoit Deferred, 20
24i ; ditto Certificates, dto Passive
20
,
bi 6. 20
The Railway.l Share Market this morning has 220c(i)
shown some heaviness,. and only a limited lbu •ess
has been transacted, in most instances, at rather!u 20
lower quotations. East Lancashire have declined 20
10s. Great Northern, 10s.; Great Western ; 5
Brighton, 10s. ; Manchester, Sheffield, and Lin. 20
coin, ss. ; North-Eastern Bernick, 10s. ; and south- 3.3)J
Eastern, 10s. ; Lancashire and Yorkshire advanced 10
about 55. ; and Norfolk, 154. The French lines F,2
have been in moderate request, and have realised I'6'
fully former prices. Grand Trunk of Canada declined 10
about 10s., and Groat Western of Canada ss. Dutch 20
Rhenish receded ss. to 10s., and Western and 20
North-Western of France 10s. to 15s. East Indian
20
and Madras rule steady.lo
British, Foreign, and Colonial Mining Shares 20
6
exhibit no material variation.
In Joint Stock Bank Shares there has been very
little business transacted.. London Chartered of 10
2Cc:i
Australia advanced about 55.; Oriental Bank, 55.;
Ottoman
inster, 7s. 6d.; and London and WeA-
-10
taTile Miscellaneous undertakings are inactive, at
previous quotations.
Steam New Shares
advanced ss.
and Oriental

St.
50
St.
St.

25
25
50
St.
St.

BRIM:

H PIINDS.—CLOSING PRICES—THIS DAY.
(From the Official List.)
3 per Cent. Reduced Aanntinn Rumness done
!ties
.:litiev
3 per Cent. Consols 93i 1
New 3 per Cent. Ann 93fi
Consols tor Account .. .211 ieB ****************** nkz i 1.
X tchequor Bills, 24d ****** ""' """ "
£lOOO . ********** ..... *
£5OO . ...................... -.
3 P
..
Small . .......... ............ par
....
Ditto Bonds, 1858, 34 per ..il .. .......... 3 p par
Ditto, 1359 ............ .. ... .......... 98i
...................
..
PRICES OF FOREIG 98
N FUN it
Mexican 3 por Cent..,, DS—Trls
.......................... 22i DAY.
Peruvian Bonds 4i per Cent ..
Ditto Accomit ....... .. ................... ........ tni
Portuguese Bonds, 5 per Cent., Con ..
. 18.4 i '; i
Ditto 1853, 3 per Cent ...................... ..
Ditto Account
Russian Bonds, 1822, i.: St., 6 por Cent..., 44
Ditto, 44 per Cent. -
Op smith Bonds, 3 per Cont.
Ditto Account .... ,
Spanish Committee Cert. of Coup, not fun 6i i i p ,
Turkish Bonds, 6 per cent
i,itto Account
IDitto Guaranteed, 4 per Cont
Ditto Account ..••••...... 1013/4
'..-- t/ Dividends on tho above payable le Lone,( n.
71IRER O'CLOCK.,
Consols, money 93*/ i
l;itto, Account (March 5)
_4 !:',A