The Sun.
London, England, 1857-07-16 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE,

CITY, Two o'CLocK.

Accounts from Liverpool state that the Cotton
Market ye-terday manifested a very animated ap-
pearance, and prices of most descriptions were id.
per lb. dearer. The sates were estimated at 10,000
bales, 2,000 of which were taken on speculation
and for export. The Railway Share Market closed
quietly yet steady, and a slight improvement was
experienced.

According to the official returns just issued, it
appears that the state of trade in Franca continues
active, and the revenues derivable from theimports
and exports are in most r,speas satisfactory. The
import duties during the past six months produced
526,017,000 francs against 499,732,000 francs in
1856, and 442,962,000 francs in 1855.
The demand for silver continues active, and the
quotations are firmer. It is now stated that the
shipments to the East next week will exceed half a
million sterling, and the bullion brokers are busily
Occupied in making the necessary arrange:nents.
The price of bars has advanced to ss. Id. per
ounce standard.

A further sum of 120,0001. in Californian and
Australian gold was taken into the Bank yester-
day, and the immense purchases made by the
authorities during the last few days must have
caused a material augmentation in the stock of the
precious metals. At preseut the.e is a very limited
Continental demand, but as the inquiry for silver
has revived, it is probable that some large remit-
tances will be sent to France and other places for
the purpose of obtaining supplies of that metal.
The amount of specie brought by the steamer
Medway from the Brazils is 70,3001.
At the half-yearly meeting to-day of the London
Joint Stock Bank, a report was presented stating
the half years' net profit for the past six months
Was 76,747/. 19s. 3d., which enabled the directors
to declare a dividend at the rate of 12i per cent.
Per annum, and a bonus of 10s. per share, leaving
a balance of 9,216/. 19s. 3d. The report was
Adopted.

ALTERATION IN THE BANK RATE OF

DISCOUNT.
The Directors of the Bank of England have at
at length modified their terms of discount, and the
minimum now stands at 51 per cent. This mea-
sure was forced upon them by the abundant
Supply of capital in the open market, ard
reduced rates at which accommodation could be
obtained there. Of course few persons would go
to the Bank and pay 6 per cent., when they could
obtain the assistance they required in Lombard-
street at and thus the discount business of that
establishment, during the last few days, has
almost ceased. A considerable improvement must
have taken place in the various items of the Bank
Recounts since the last were published, and there is
reason to believe that a further decline in the charge
for accommodation will soon take place. Already the
discount firms have lowered their terms, and since the
directors separated first-class bills, have been dis-
counted in the general market at 51 per cent.
While the supply increases, and the demand is re-
stricted, thetendencymust necessarily be in afavour-
able direction. This alteration will no doubt induce
many persons having money deposited "on call"
.with the Joint-Stock and other establishments to
Withdraw it, the allowance for the use of such capi-
tal being now under 5 per cent. The preSump-
tion therefore is, that investments in the Funds
and other Securities will become more numerous.

• The market for the English Funds opened firmly,
'but they have not been much benefized by the re-
duction of the Bank rate. Indeed, a decided fall
has occurred, and the market is exceedingly de-
pressed, owing to large sales.
Consols have been 91i and 911 For the ac-
count the quotations have been 911 :1-, and 91.1 2.
They are now 91 to 91k, and 91k respectively.
The, New Threes have been 914 and 91i ;
the Reduced 914, 1, ; Exchequer Bills 4s. dis to
par. ditto Bonds, 1859, 98,1. India Stock is 2121
16, and ditto Bonds 10s. discount.
The following are the nominal prices of Foreign 111
Stocks :-Grenada Deferred Bonds, 6 61 ; Mexican,
22 ; Peruvian, 80 82 ; ditto 3 per Cents., 54
56 ; Portuguese 3 per Cents., 441 5i ; Russian 5
per Cents., 109 111 ; ditty 41 per Cents., 96 98 ;
Spanish 3 per Cents., 40 i ; ditto Deferred, 25 1 ;
ditto Certificates, 5 ; ditto Pasiive, 51 2.
Foreign Stocks have been rather active. Turkish
- 3 per Cents, depressed, being 93i to 95 The 4 per
Cents. Guaranteed are 1021 Dutch per
Cents.
54 ; Russian 6i per Cents., 97 to 98. Peru-
vian, 80 ; and Mexican, 22.
The last week's railway receipts, ascertained up
to this day, are in round figures as under
1857. 1856.
£31,043 £29,194
68,283 65.549
15,591 16 514
31,739 29,312
22,476 21.908
14,382 12,676
21.351 20,295
26,329 25,324
3,112 2,801
6,744 6,858
6,669 6,774
7 426 7,463
12,917
6.774 6,472
10,322 9,301
34,973 33,091
8,783 7,586
2,666 2,445
4,604 3,723
1,454 1,436
5,796 5,455
7,362 6,754
9,776 5,61
9,479 10,00(
37,485 36,93 f.

Great Western.
North-Western
Brighton
tlioland
8 puth- Eastern
Caledonian
Great Northern
Lancashire and Yorkshire
Birkenhead
Bristol and Exeter
Chester and Holyhead
East Lancashire
Landon General Omnibus Company
Lancaster and Carlisle
Manzhester, Sheffield, and Lincoln
North-Eastern —
North Stafford
North London
Oxford, Worcester, and Wolver
Ulster
Edinburgh and Glasgow
Glasgow and South- Western
Grand Trunk of Canada
Great Western of Canada
'Northern of France

Business in the Railway Share Market has been
very inactive, but the few transactions re-
ported have been at rather enhanced values.
Eastern Counties, Manchester, Sheffield, and
Lincoln„ Midland, North-Eastern (Berwick),
and Oxford, Worcester, and Wolverhampton, have
advanced about 55., and Lancashire and Yorkshire,
78. Gd. ; South Western, and one or two others,
remained at about former values. The dealings
in the Foreign and Colonial lines are extremely
limited, Northern of France improved about ss.
Grand Trunk of Canada declined 103., and Great
Indian Peninsula, and Great Western of Canada
Were steady.
Mining shares show very little variation in value.
Great Wheal Alfred have declined to 71 to 5g and
North Wheal Bassett to 14.
In Joint Stock Bank and Miscellaneous Shares
only two or three dealings have taken place. London
Joint Stock are rather fircacr. Ottoman Bank
receded about 55., and Electric Telegraph are
dealt in at 91.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
( from the Official List;)

Business done.
3 per Cent. Reluced Annuities 9l/ $
3 per Cent consols Annuities silt $ a 3 i
New 3 per Cent. Annuities 914 i - 3 t
Long Anuuities, expire sth Jan. 1860 —
Ditto 30 Years, expire sth Jan., 1860 2}
Ditto 39 Years, expire sth April, 1885 lB 1-16
India Stock
1 .u, oonds, .4,-;1001)
0 i Sole fOr % e,mint
than for Opening 9lg
2Exoliequer Bills, 2id.
c touu .
W,9 E5OO •
Ditto Bonds, L 658, 3i per Cent. ... parl) a-
r 44
d
Ditto, 1359
RIM OF FOREIGN FUNDS AT ONE O'CLOCI.O
Mexican 3 per Cent 22
Peruvian Bonds, 4i per Cent
Ditto Account
Portuguese Bonds, 5 per Cent., Con. 1811
Ditto 1853, 3 per Cent 45
Ditto, 4i per Cent. 97
Ditto Small
RP ',4'. "• mm,ttee Cert.. of Coup. not fun. 51
Tarkieh Bonds, 6 per cent 914 $
thtto Aceouut
Ditto Guaranteed, 4 per Cent.
Ditto Account

Dividends on the above payable 'onlc n.
1) itch Exchange, 2A per Cent., 12 Guilders 64
TWO O'CLOCK.
... A 4
... 91i g

_ .
Consols, money
Consols for Account

At a special meeting of the Royal Mail Stearn-packet
la Ono
„ p any yesterday, a resole ion for amalgamating with
"e European and Australian Steam Navigation
"Vany was agreed to, after some opposition.