The Sun.
London, England, 1857-11-30 00:00:00

COMMERCIAL INTET.T.TGENCE.

CITY, Two o'Cnoenr.
Notwithstanding the slight improvement in our
monetary prospects which has taken place during
the last few days, trade in the manufacturing dis-
tricts of the north of England continues very much
depressed. Some time must necessarily elapse, and
money must decline to a more moderate rate, be-
fore business is actively resumed and the mills are
again in foe operation. On the whole, this
department has withstood the crisis far better
than might have been expected ; but for many
months past, the manufacturers have • proceeded
very cautiously, in consequence of the dearness of
raw materials, the dulness of foreign markets, and
the high terms that have been charged for discount.
The American panic, the cessation of orders,
and, of what is of still greater importance,
viz., remittances, have hid a very injuri-
ous influence, but the failures thus far
have not been so numerous and extensive as many
at first predicted. Pdhaps it is too early yet to
determine whether the full results have been re-
vealed, hut as the force of the crisis has been
broken, it is hoped that many horses whose embar-
rassments are only temporary may now be enabled
to escape absolute suspension. While, however, it
is most desirable that such firms should retrieve
their position, a hope is expressed that really
insolvent houses, such as have been trans-
acting an enormous business on an insecure
foundation —and unfortunately this class is
numerous—will be brought down for the gene-
ral welfare of trade. The facilities offered by
Joint Stock Companies have enabled these firms to
create a❑ artificial appearance of prosperity, and to
force the prices of goods and produce to a fictitious
range. While such operations may in many cases
have proved very remunerative, they have proved

detrimental to legitimate traders whose engage-
ments have been on a moderato scale, and at the
same time they hare inflicted many unnoessary

bur Jens upon the consuming classes.

The daily influx of gold into the Bank of England,
by enabling the Directors to grant extended accom-
modation to the mercantile public, is viewed with
general satisfaction. Under the present system,
this movement more than any other, is. considered
encouraging. Besides, the remittances in route

from Australia, steady imports from St. Petersburg
are expected, while it is also considered not impro-
bable that shipments of sovereigns, die., may be
henceforth reg► larly made from New York. On
Saturday 106,0001. was sent into the Bank, con-
sisting chiefly of Russian gold, and a further parcel
is expected to follow to-day.

The accounts from Australia are very satisfactory
as far as the yield of gold is concerned. In the
&et nine months of the present year the shipments
were 1,880,230 ounces, and as the -various mines
were being most successfully worked the remit-
tances during the remainder of the year were likely
to be very large. Several new discoveries had
been made, and in some instances they are ex-
pected to prove ezepedingly rich.

There is still a good inquiry for discounts in
Lombard-street and at the Bank of England, but
as the supply continues to increase bills are more
readily negotiated. The relief thus afforded is pro-
ductive of much good, several firms who were em-
barrassed being now enabled to surmount their
difficulties.

The Indian and Australian Mails have been in
course of delivery this morning.

The improvement in the raarket for English
Securities has continued, and the quotations in-
dicate considerable buoyancy. A large business
has been done on speculative account, and the
tendency is still very favourable. The improved
aspect of monetary and commercial affairs, the sales
of gold to the Bank, the discontinuance of
failures, and the easier condition of the money
market, all tend to strengthen the market, and to
encourage the Bulls in their operations. Consols
for money, and the 7th proximo, have been 911 4,
91i I, and 91f The present price is 911 f, and
for the January account 924 The New 3 per
Cents. and the Reduced are 90i 1. Bank Stock
is 215 i to 217. India Stock is 216. Exchequer
Bills are 3s. discount to par.
Foreign Securities are also very buoyant. Tur-
kish 6 per Cents. have risen to 92 and 92k. They
are now, however, about 92 to 921. Russian 4}
per Cents. are 96 ; Dutch 4 per Cents. 964 ;
Mexican, 18i ; Peruvian 761; and Buenos Ayres,
84.

The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 6 to 6 ; Mexi-
can, 1N ; Peruvian 4} per Cents., 74,76 ; ditto
3 per Cents., —; Portuguece 3 per Cents.
43 44 ; Russian 5 per Cents., 104 106 ; ditto 4i
i
per Cents., 94 96 ; Spanish 3 per Cents., 41 42 ;
ditto Deferred, 25i 26.

In the Railway Share Market prices continue
firm, most of the dealings have been in reference
to the settlement. Caledonian, North. Western,
and South-Eastern have advanced 10s. ; South-
Western, North British, North-Eastern (Berwick),
and Vale of Neath, ss. ; and Great Western and
Lancashire and Yorkshire, 1/. The Foreign and
Colonial lines are quiet. Paris and Lyons have
improved about ss. ; East Indian have declined
10s. ; and Great Western of Canada, ss.
Mining Shares are rather firmer, Ochre Copper
has advanced 10s., and Wheal Mary Ann about ss.
Joint Stock Bank and Miscellaneous Shares are
well supported. City Bank have improved 2/. ;
London Chartered of Australia 55.;
,and Union of
London lb. Canada Land Shares have advanced
to 120 ; Peninsular and Oriental Steam 751 ; Royal
Mail Steam have receded to 53k.

BRITISH FUNDS.—CLOSING PRICES—THIS DAY.
(From tit Officui/ List.) _

-
8: nk Stock .. - --
Bissinersdone.
215 a 17
--I oer cent. Reduced Annuities
3 per Oent. Consols Annuities
li3vr 3 per Cent. Annuities 904. i i
fu lia Stock. . 216
radix liond3, £lOOO
9itto, under 21000 25 d
OoLsols for Account .. ........ ... ........
giEzchsvier mile, 20..
t:1006 . 3d par 4d par
t'soo
"‘,..V 5i11..4.
Fxchequer Bonds, 1858, 34 per Cent —
Dittl, 1959
PRICES OF FOREIGN FUNDS—THIS DAY.
tuenos Ayres Bonds, 6 per Ceut.
Ditto Account
Mexican 3 per cent
1) tto Account
Pernvian Ponds, 4!; per Cent 763 7
Porta ;nese Bonds, 5 per Cent., Con. 1841 --
Ditto 1853, 3 par Cent 433
1) i.to Account
Russian moods, 1.2.2, 12 St., 5 per Cent., —
Ditto, 44 per Cent.
Sp 1,E,11 Runts, -1 pc, (*ent. -
Dittc Pow Daferred, 3 per t'en',
Ditto Account
Spanish Committee Cert. of C )up, oat fun. 54 3
Tuf hit h Ponds, 6 per cent
Ditto Account ......... ........ 91. 24 13 2 3 3,3
Dividends on the above payable in London.
Dutch Excl.angt,. 2,i per Cent., 12 Guilder+ i
D.). 4 pi r Cent. Certificates ........ ..... 964 4
71IREE O'CLOCK.
Consol., money 9ll t)
bitto account (December 7)