The Sun.
London, England, 1861-10-21 00:00:00

4.lOATir 111- A-ItKET AND CITY N_ETVS.

CITY, Two o'CLocK.

During the past week there has been little change
of importance in the general progress of business in
the manufacturing districts. At Manchester, how-
ever, an increased demand has been experienced
for cloths suitable to the Indian markets at en-
hanced rates. The woollen trade at Leeds has con-
tinued steady, while at Bradford, Halifax, and Hud-
dersfield the operations in piece goods and yarns
have been confined to immediate requirements. The
hosiery trade at Leicester and Nottingham has con-
tinued active, and in the hardware districts, viz.,
at Birmingham, Sheffield, and Wolverhampton, a
seasonable amount of business has been done, chiefly
however for home requirements.

A large amount of business was again transacted
in the Liverpool Cotton Market on Saturday. The
sales were 20,000 bales, and prices were very firm.
At a meeting of the Bank of Victoria proprie-
tors, in Melbourne, on the 6th of August last, a
dividend at the rate of 10 per cent. was declared.
At the Bank of England on Saturday there were
.no bullion transactions of public importance.
The report of the Royal Mail Steam Navigation
Company recommends the usual dividends of £2
per share.
The steamer Europa, which left for Halifax and
Boston, conveyed £42,659 in specie.
With the exception of an occasional increase for
accommodation eausing a little more firmness in
the rates, the general appearance of the dimwit
market exhibits very little alteration. There is
still, as for a long time, a vast accumulation of
money at the command of the bankers and bill
brokers ; and, as an active competition exists among
them for commercial securities, the mercantile
public are still enabled to obtain all the discount
assistance they require on moderate terms. The
only thing that appears to detract from the
prospects of the market is the position of monetary
affairs in Franee, which still gives rise to an im-
pression that it may yet lead to a large efflux of
gold from this country, and necessitate restrictive
measures on the part of the Bank of England.
The prospectus has been issued of the company
to be formed for the restoration of the Submarine
Indian Telegraph, laid three years ago, at a cost of
£BOO,OOO, under a Government guarantee of 41 per
cent. Although the entire line worked but for a
few days after completion, each section had been in
successful operation for several months, and a con-
viction is now expressed that the faults which
occurred are all capable of repair, and that many
of them are very slight. The line between Aden
and Kurrachee is especially considered to be
capable of rapid renovation. In one of the
sections of nearly 500 miles there has never been
any fault, and those which exist in the other sec-
tions are believed to be in shallow water. The
cost of re-establishing this portion (which would
abridge the time for a message from all parts of
India to five days) is estimated not to exceed
£50,000, and the company intend to direct their
first efforts to that end. There will then re-
main only the division between Sues and Aden
'Which it is assumed can undoubtedly be made good
in whole or in part, while throughout much of this
region there is also the alternative of forming land
lines, as was suggested some time back by Captain
Bedford Pim. The capital of the new company
will be £lOO,OOO, in shares of £2 each, and the in- ,
tention is as soon as a sufficient amount has been
subscribed to despatch a steamer with 200 miles of
new cable, with a view to complete the communi-
cation up to Aden early in 1862. The terms made by
the company with the Government are that the
Government shall hand over all the property of the
old company free of charge as soon as two-thirds of
the proposed capital shall have been subscribed and
one-third paid up, and a vessel shall have been de-
spatched with 200 miles of new cable; that the
new company shall be entitled to all profits not ex-
ceeding an annual dividend of 25 per cent.; that
any surplus beyond 25 per cent. shall accrue to the
Government in reimbursement of amounts paid for
interest under their guarantee on the £BOO,OOO
capital of the old company, and that any further
sum shall be applied to the creation of a reserve
fund ; that the Government shall have the right to
purchase the line on repaying the capital expended
at the expiration of 30 years; and, finally, that in
the event of failure on the part of the present
company the Government may take the line into
their hands again on repaying the new amount
actually expended. A strong feeling prevails in
favour of the effort, and every one will feel un-
qualified satisfaction if those who enter into it
obtain a large return.
At the commencement of business in the English
Stock Market this morning greater buoyancy pre-
yelled, owing to the continued firmness of the
Rentes, and the easy position of the Money Mar -
ket ; subsequently, however, a few sales were effec-
ted which led to a slight reaction, and Consols
which had been 921 3 are now 92 1 for money
and the 7th inst, The New Threes and the Re-
duced are firmer at 90 ; Exchequer Bills, March,
are steady at 4s. prem. ; ditto, June, at 7s. prem.;
India 5 per Cent. Stock remains at 1041 1 ; and the
New Scrip at 1041.

- -
In the Foreign Market Turkish Bonds have
shown a slight decline, but Mexican are firm, al-
though the dealings are very restricted. Turkish
6 per Cents. are 801 1; ditto, 1858,681 ; Chilian
per Cents. have improved to 85k; Brazilian 4t,
Cents., to 911 ; Mexican, to 26-1 ; Sardinian are
firm, at 81-1- ; and Spanish at 50.
Business in the Railway Share Market has con-
tinued moderately active, and in several instances
prices have shown a further upward movement.
Caledonians, Great Northerns, Great Westerns,
North Westerns, and North Eastern (Berwick)
improved ss. ; and Eastern Counties and Mid-
lands, ss,

The Foreign and Colonial lines have generally
supported previous values. Great Luxembourg
realised 91 4 ; Sambre :and Meuse 6 ; Dutsh
Rhenish 15i 16 ; Grand Trunk of Canada realise
191 20 ; Great Western of Canada 91 ; East Indian
102 ; and Great Indian Peninsula 981 991.
Joint-Stock Bank and Miscellaneous Shares
were without any material variation.

BRITISH FUNDS—ONE O'CLOCK.
Bank Stock .....
3 per Cont. Reduced .Annuities 9oa 1,1
3 per Cent. Consols Annuities
New 3 per Cent. Annuities 9oa I I a
Annuities, 30 yrs, expire sth Jan., 1880 —
Ditto for 30 yrs, expire sth April, 1885 l5 9-16
India Stock.
Ditto 6 per Cent. .
Dittoti, W per cent an Scrip, 5 104 k k
co ntaced Paper, 4 per Cent lo4i
Ditto 6 per Cent
Ditto 51 per Cent.
103 961
Ditto Debenturea
Ditto ,A -z Per Cent., Oct., 1863
Ditto ditto April, 1864 98/
Consols for Account, I.rt? . ; ....
India Stock for Account 6' '
2d... 92 1
per Cent
Exchequer Bills, £l,ooo,March June.
Ditto £500.. • • 4 pm 7 pm
Ditto Small .............. 4pm
........ 4 7 pm
FOREIGN FUNDs_pm 7 pm
Euenos Ayres, 6 per Cent.. ONE. O'CLOCK.
Ditto 41 per Cent., 1860 .............. Q.--
Cuba, 6 per Cent. ......................... 'll
Ditto (Matanza & Sabinilla) 7 per 6,24
Chili= .
6 per Cent ............... 101
Ditto 4f 8
per Cent —...
o 1
Fquador New Consolidated
Mexican, 3 per Cent.
Ditto Account .... 24
Sardinian 5 per Cent. ..
Spanish 3 per Cent
Ditto Account
Spanish Cert. of Coup. not funded.. 5/ 6
Turkish 6 per Cent ............. —
Ditto Account ................
Ditto New Loan ..........
68 5
Ditto Account
Dividends on the above payable in London.
Italian, 5 per Cent 1861 .......... 631 9
.)
TWO O'CLOCK.
Consols, Money 92 i
Ditto Account
, g

iTOWE HOUSE.—The Dowager Duchess of Buck-
ingham, and the Duke and Duchess of Buckingham, with
their children, have, much to the delight of the inhabitants
of the locality, taken up their residence at Stowe House,
their ancestral home, but which, from painful circum-
stances which have been oft referred to, had been for some
Years stripped of its fittings and closed.—J3icester Herald.
PRICE OF BREAD.—At Marseilles, three days
back,
a jury
assembled to fix the price to be paid for what is
called the Domain des Autels, which is to be expropriated
for. the construction of a residence for the Prefect. It was
originally purchased many years back for 80,000 f./ but
15800,000 f. were now demanded. The municipality offered
600,000 f., and the jury awarded 1,500,000 f.