The Sun.
London, England, 1857-10-14 00:00:00

ONEy MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, Two o'CLocK.
The Liverpool Cotton Market yesterday mani-
fested a very heavy appearance, and the values of
Most descriptions were fully id. per lb. lower. The
sales were estimated at 2,000 bales, 500 of which
were taken by the exporters. The Railway Share
Market closed quietly, and prices continue to
decline.

The quarterly sales of indigo commencetyestcr-
day, and 11,573 chests, it is announced, will be
offered. The following remarks upon the subject
are from Messrs. H. W. Jewesbury and Co.'s cir-
cular :

"The sale opened with fair spirit, and the attendance
of buyers was moderate. The advance, however, upon
the whole, is not so great as that paid previously to
the sale, and for come sorts there was less disposition
to buy ; fine goods, however, both in Bengal and
Kurpah were fuly maintained, and the advance on
July rates for those descriptions is from is. 9.1. to 25.,
and in some instances higher. Oudes and ordinary
Kurpah are ls. to ls. GI. per lb. higher, but Madras
was quite neglected, and was mostly bought in from
9.1. to is. 31. above July rates. The Manila was
mostly bought in at la. Gd. to ls. 101 per lb. advance.
The qualities of the Bengal are about one-fifth good and
fine, and four-fifths middling and ordinary. The Salem,
middling and ordinary. The Manila, ordinary to good.
The Oudes and Plant Oudes, of which there is a large
quantity in the sale, are about one-third good and fine,
and two-thirds middling and ordinary. 1,787 chests
have passed, of which 580 were withdrawn, 523 bought
in, and 684 sold. The following are the highest and
lowest prices t—
fi 701 Bengal . 4s Gd to 9s 93 per lb.
222 Madrai
254 Kurpah 3s 53 9s 23 „
28 Manila
2 Sweepings
580 Withdrawn
1,787 Chests, 28 Lots Sweepings, at 2s 53 to 2s 9s per lb.
There is no alteration to report in the price of
Silver, but a steady demand exists, and it is
thought that a large amount will be sent away on
the 20th to India and China, owing to the increased
fi.rinness of the Eastern exchanges. The current
quotations in the Bullion Market aro :—Bar gold,
778. 9d. per oz. standard ; United States gold coin,
765. 2id. per oz. ; bar silver, ss. lid. per oz. stan-
dard ; and five-franc pieces, ss. per oz.
. _

A large supply of gold has been received from
Australia, namely, 260,0001. by the Red Jacket,
which has just arrived. In the present situation of
affairs any supply, however small, is of importance,
and the amount now to hand will tend to pre-
vent any immediate withdrawal from the Bank
of England. It is stated that arrangements
have beer' effected for the remittance of nearly
half a million sterling to America, and if such
operations are renewed it is certain that a further
reduction of the Bank stock of bullion will ensue ;
but there is reason to believe that from the nature
of the engagements between this country and the
-United. States the necessity for a continuance of
such shipments will be precluded. Indeed,
as soon as this panic is over, and the merchants
in America are enabled to pursue their usual
transactions, there is no doubt but that large sums
will be received from that country, since they are
indebted to houses on this side to a very consider-
able extent. As soon as the present excite-
ment becomes diminished, the recovery may be
rather sudden, and thus, as in former similar
cases, the return to a state of comparative ease may
be as rapid as was the recent transition from buoy-
ancy to a state of depression. During such periods
there is always a disposition to form exaggerated
opinions, but it must be remembered that we have
just secured a most abundant harvest, and that with
the exception of the embarrassments p rod uced by the
failure of American houses and the cessation of re-
mittances, trade continues sound. There is little
to justify the presumption, therefore, thaf the re-
sults of the present disturbance will prove as disas-
trous as those of 1847, to the events of which
Memorable period those now witnessed have in
some quarters been compared.
The dividends are now in course of payment at
the Bank of England, but as heavy loans will have to
be returned, the effect of the distribution, so far
as the general money market is concerned, will
not be very important. Instead of being rein-
vested in securities, there can be no doubt, how-
ever, that the larger proportion of any available
surplus will be employed in the discount market,
Where sand 64 per cent. interest is offered for de-
Nits. The demand for money in Lombard-street
la sustained, as many are apprehensive of an ad-
Vance to-8 per cent. before the end of the week. -
Indeed, it is to this wide spread alarm
that much of the present inconvenience is to be I:,
attributed. The public have obtained a great
deal more accommodation than they require ; and
if it is determined not to make any further altera-
tion the market will doubtless relapse into a much

quieter state. 11
It appears that the advance in the Bank of France 11
rate of discount to 6 per cent. was expected, and 11
the event has not excited much comment, nor were
the Rentes materially influenced by the change.
After the recent excitement in the market for
English Securities a slight lull can now be re-
ported ; and, pending a further movement in the
Money Market, it is expected that speculation will
continue on a more moderate scale. During the
next two days the brokers and operators will
have almost enough to do in the arrangement
of the account, without an active extension of fresh
engagements, recent events having rendered the li-
quidation of outstanding contracts of more than 1(
Usual importance. Yesterday hfterneon there was
a reaction in the price of the Funds after the pre- ;
vious improvement, owing to its being rumoured
that the Bank would raise the minimum rate to 8 it
per cent. to-day, but this morning a recovery was 1(
established, and since the variation has not ex- 1!
ceeded per cent. The tone of the various mar- '
kets is now decidedly stronger, and there is some
appearance of buoyancy. No other failures of im-
portance are yet announced, but the one "de-
clared". yesterday is said to be of a considerable
Amount. The charge for " continuation" is rattler
easier. Consols for money were 87'2 and since
they have ascended to 88k. For the 10th prox. they
are rna rked 88 to , and 88i The curren quotations --
are 871-88 and 88/ respectively. The New Threes _
Were 86K 87, and the Reduced were 861 y. Exche-
quer Bills have improved 108. and ss. per cent.
The Foreign Market is also much quieter. Turkish 6 per Cents. have risen to 87 and ' .
While tho 4 per Cents. wore 971 I. Portuguese 3
per Cents., 43. Mexican Stock has descended to
18i 19.

The following are the nominal prices of Foreign.
Stocks Grenada Deferred Bonds, 56 ; Mexi-
can, 19 19i ; Peruvian 4i per Cents., 76 78 ;
ditto 3 per Cents., 52 54; Portuguese 3 per Cents.,
43 45 ; Russian 5 per Cents., 105 108 ; ditto 4)1.
per Cents., 95 97 ; Spanish 3 per Cents., 40
ditto New Deferred, 24i 5i ; ditto Certificites, —;
ditto Passive, 5i si.
In the Railway Share Market the arrangements
usually entered into for the sAtlement of the half
monthly account have fully occupied the attention
of most of the principal dealers, and the fresh tran-
sactions reported have not been important. Most
of the loading lines show a decided improvement
on yesterday's quotations. Caledonian and E.lin-
burgh, Perth and Dundee advanced 55., Eastern
Counties, Great Western, South-Western, North-
Eastern (Berwick) and N.-Eastern (York) 10s., and
Great 'Northern, Lancashire and Yorkshire, North-
Western and Midland, 1/. South-Eastern declined
About 15s. Chester and Holyhead, Manchester, Shef-
field, And Lincoln, and North Stafford, were dealt
in at former rates. the Foreign and Colonial lines
are also at slightly improved values. Northern of
France and Paris and Lyons have advanced about
ss. to 10s. ; and Grand Trunk of Canada 1/. and 2/.
Mines, Banks, and Miscellaneous shares are in-
active. London and Westminster Bank have de-
clined ss. ; and Oriental Bank about ss. North of
Europe Steam shares were dealt in at 44.

LUTISEI FUNDS.--CLOSING Ph ICES—THIS DAY
( Prom the Oftletal List:)
213
"lank Stook .. Pusineis dere.
7 6
8 per lent. Reduced Annuities
7 1
per;Oent. Consols Annuities B7
6B i
Now 3 per Cent. Annuities B7 7 61
India Stock. 2o3ti
Miiiiii
Om soh for Aceetur , Nov. 10
kx
4000,hoquer 13111 s, 24d;
4
.... .....
Exchequer Bonds, IgsB, 2A per cent_ 93k
PAICES OF FOREIGN FUNDS—THIS D.Y.
AL,xicau 3 per Cent
AD:tto Account .... ............
Portuguese Bonds, .5
per Cent., Con. 1841 ---
BDitto 1853, 3 per Cent .................. .
panikh Bonds, 3 per Cent.
Ditto New Deferred, 3 per Cent.
Turkish Benda, 6 per cunt........
874 7
Ditto Account....... 87j
Ditto Guaianteed, 4 per Cent. ....• .
.7
Dividends:on the above payable: London..
French Rentes, 4i per Cent.
,bitto 3 per Cent. C6f. 25c. ex 25f. 25c.
Dinh Exchange, 221 per Cent., 12 Guilders
Do, 4 per Cent. Certificates
THR ER OTLOC.T.
Consols, money
..... 87i 4
Consols for account, November 10 BBi I

100
20
20
20
50

20
50
20
25

100
10
5
25
25