The Sun.
London, England, 1857-12-16 00:00:00

14: 0 y
MARKET

AJD
CONiriThIICIAL INTELLIGENCE. Bhr.

CITY, Two o'CLocir.

Letters from Liverpool mention that the Cotton
.Market yesterday closed heavily, and values of all
descriptions were fully .} per lb. lower. The sales
Were estimated at 2,000 bales. In the Railway
Share Market a better feeling prevailed, and the
Market closed firmly, at an advance in prices for
all the leading stocks.
There can be no doubt that the Money Market
becoming much easier. Instead of the hesitation
With which all descriptions of bills were received by
the brokers, there is now an enquiry for them, and
Ihe choicest kinds are in especial favour, and negoti-
able at to
per cent. below the minimum. This
points to au early reduction of that onerous quota-
t
l
I°ll2 because the improvement is making rapid
progress and is not likely to be interrupted.
During the last few days a marked alteration is sup-
posed to have taken place in the resources of the
aulr, particularly as regards the bullion, but owing
thematuring of the paper held bythe authorities,
it is thought that the securities have run off to a
Large extent, which in turn must have caused an
augalentation of the reserve. Considerable sales
°I gold have been made, and the weekly return,
Which will be completed this afternoon, will no
doubt show that the terms of discount are soon
r
.IkelY to be relaxed. Many are of opinion that
rills measure of relief will take place to-morrow,
but although it is by no means improbable,
the majority consider that a delay of at least
fi fortnight may take place. Before any
change is determined upon, the 2,000,0001.
over issued " credit notes " will have to be with-
drawn, and the question is whether the reserve
,Which last week would have stood at 1,900,0001.
d those notes had been deducted, has since re-
ceived a sufficient addition to justify a relaxation
When the period is approaching for the distribu-
tion of the dividends. The directors, it must be
admitted, may be guided by the tendency of
affairs at the present moment, to a greater ex-
tent than is customary, because, with trade so
much curtailed, and in the absence of speculation,
a steady decline in the pressure for discounts
411137 be fully calculated upon. As the engage-
ments now outstanding mature and are
1
"quidated, the demand will fall off ; and
"lug to the devastation among the com-
mercial interests, and the stagnation of the export
trade, some time must elapse before there is a corn-
Plete revival. In the meanwhile it is exceedingly
Probable that money will become cheap, from the
Birople fact that it will only be wanted on a small
scale, mid a superabundance will ensue. In 1847,
When the terms were forced up to 8 per Cent., and
most restrictive conditions were imposed, money
:.few months after was as low as 4 per Cent. The
circumstances of the crisis then were different from
ithose of the present one, but a similar movement
may nevertheless be predicted.
The precise amount purchased by the Bank yes-
t
of
Was 210,0001., consisting of the remainder
'l.l the Supply by the Essex and some of the last
ainerican remittance.
silver is in steady demand for the Hambro
7erket, and yesterday about 30,0001. was trans-
mitted to that city. The prices of the metal are
1111 changed.
Ir•sterday afternoon, the continental exchanges
Rare generally rather lower.
The Centurion has arrived from New South
dales, with 107 ounces and 10,000 sovereigns,
making a total of about 15,0001.
Therei has been rather an unsettled market for
glhdl Securities, but it shows considerable
t.;ength, and any decline that takes place is merely
btliP°rarY. A fresh supply of money stock was
r
14. ought forward this morning, which caused some
Ole:knells) and Consols, which were previously
fir Lit were then about 91i. They are now
quiet agaiu, being 911 f, Speculation is very
but the satisfactory prospects of the money
market
aresupport the quotations. The New Threes
914 is the Reduced 91± and Long Annuities
"*.„ Exchequer Bills are 4s. discount to par; ditt•
.u"ds, 99/ ; and India Bonds (under 1,0001.) 355.
diticount. Bank Stock is 217 218 k

Foreign Stocks are dull, and prices were rather
41wer. Turkish 6 per Cents. are buoyant, being
94i 95, and the 4 per Cents. nominal. Buenos
4
Yres 6 per Cents. are 92 ; Grenada New Active
fic,
4—, 17i ; Ditto Deferred, 44 ; and Spanish
""'"? Deferred, 254.
The following are the nominal prices of Foreigh
ist
°el4B :—Grenada Deferred Bonds, 5 6 ; Mexi-
;46n, 181 19 ; Peruvian 4i per Cents., 74
ditto 3 per Cents., 50 52 ; Portuguese 3 per
dente., 43i 444 ; Russian 5 per Cents, 163 105 ;
do, 4i per Cents., 95 97 ; Spanish 3 per Cents.,
41 ; ditto New Deferred, 25 25k.
The Railway Share Market this morning has ex-
!lted increased firmness ; the transactions, how-
iar) have not been large, but most of the leading
en" allow an improvement of about 4 to 1 per
on previous current quotations. Great Wes-
tern, North-Western, Manchester, Sheffield, and
111711..,e°111) North-Eastern (Berwick), and South
luftles advanced 10s. ; South-Western, 15s. ;
—4l.d Eastern Counties, Great Northerns, and
4kidlands, 1/. In the Foreign and Colo-
al undertakings, the variations have not
b,511 important. Great Luxembourg improved
about Ss. ; Paris and Lyons and West Flanders
Were at former quotations. Grand Trunk of
Canada declined 10s. ; and Great Western of Canada
improved ss.

Mining Shares were at quite nominal quotations,
110 business being reported.

Joint Stock Bank and Miscellaneous Shares rule
1,(1 r3' quiet. City Bank declined 1/. ; London and
eatniinater, 10s. ; Orintal Bank, 15s. ; and Aug.
tw
rahan Agricultural about ss.

18
2
1001
100

St.
100
20
20
20i

"lIIIISEL FUNDS THIS DAY AT ONE O'CLOCK.
(From lite Offictal Lists)
Botinegodono.
;Ilk Wok 217 1/3;
Navy ()ant. Reduced Annuities
Lo! 3 per Cent. Annuities 9li i
~mg Annuities, expire sth Jan. 1860 2
I. Ditto 30 Years, expire sth April, 1885 l7i
4eAtia Ronda, .1.3006
~, qitto, under £lOOO 35 d
vol:sols for Account
I'=" Kepner 13111 e, 24d.
•81000 ........ ..... . 4 d par 4 d
X6OO 3 d 4 d par
Snail par 2d 1 p 3 d 1P
• ....
Exchequer Bonds, 1858, 34 per Cent.... 99R
Ditto. 1859
-1114018 OF FOREIGN FUNDS AT ONE O'CLOCK.
Buenos Ayres Bonds, 6 per Cont. 92
Urenada New Active, 24 per Cent., I7A
. Ditto Deferred 4A
oro•nish Bards, 3 per Cent.
Ditto New Deferred, 3 per Cent.
Tarkibh Rondo, 6 par cent 94i
Ditto Account 953 44 i
Dividends on the above payable in London.
TWO O'CLOCK.
915 i a d

Consols for account

SPORTING INTELLIGENCE.

BETTING AT MANCHESTER.—TUESDAT.
TWO THOUSAND GUINEAS STAKES.
to 1 agst Clydesdale (taken)
7to 1 agst Brother to Marchioness (taken)
Bto 1 agst Happy Land (taken)
Bto 1 agst Lord of Lorn (taken)
20 to 1 agst Coxwold (taken)
CHESTER CUP.
!(Not a bet laid on this event.

20
20
20
20

DERBY,
11 to 1 agst Clydesdale (taken)
100 to 7 agst Toxophilite (taken)
18 to 1 agst Kelpie (taken)
25 to 1 agst Ditto (taken)

THE SWELL MOB OF THE LONDON 03INIBITg.—Au
American gentleman having seated himself in a London
°omnibus saw and beard what a little amused biro. A-
lum, bearing no peculiar marks of authority, looked 10
at the door, took a professional view of the passengers,
and called out to the driver, without any pretence at
modest congealment of his thoughts, "You can't go or,
there's two of the swell mob in here." The coach waited,
till at length a pursy, well-looking oid man rose and
stepped, saying as he did so, " I've too much money to
ride with pickpockets." In a moment more a spruce
Young person said, as he decamped, "I'll follow that old
gentleman's lead." "Go on now," said the detective
Nieenian, "the swells bate got out, and all's right,"