The Sun.
London, England, 1857-03-06 00:00:00

MONEY MARKET

AND

COMMERCIAL INTELLIGENCE

CITY, Two O'CLOCK.
Letters from Liverpool mention that the Cotton 33
Market yesterday closed quie•ly, but prices were 50
fully maintained. The sales were estimated at j
7,000 bales, 1,000 of which were taken on specu-
lation. The Railway Share Market exhibited a St
quiet appearance,
but closed steaidily at a slight 2,
advance in va'ue.
2i
The transactions this week in mist descriptions
of For ign Colonial produce have not been so
extensive as fer some time past ; the pressure for s'tt'
discounts, the arrangements connected with the 50
fourth of the month, and the Minis`elial defeat 20
having all tended to induce c,u ion and limit ope- 20
rations. In sugar the dealings have been omtracted,
and as from the commencement of the week the -;-`o'
buyers have shown a strong disposit;on to pay late 25
rates, a slight decline which on West India qua- St.
lities amounted to 6d. per cwt. has been submitted 20
to. Coffee has been quiet but firm, holders eviec St
-
ing a determination not to accept lower rates. In 75
Tea a large speculative business has been done, the 25
late advices from China having stimulated opera- St
tions at advanced prices. A considerable quantity 20
of Common Congou his changed hands at .Is. lid. slOt
to is. 1.0. per lb. Rice has been very quiet at pre-
vious valur2s, although on Tuesday some kinds of Ft.
Bengal were 11d. per cwt. dearer. Rum has been 10
steady. Saltpetre inactive. Cochineal at full St.
rates, an 1 Tallow dull, at a decline of .7,t;
6d. per cwt. Nutmegs, Cassa Vera, and
Pimento have been dearer. Mace is steady,
and pepper rather heavy. The public sales of
foreign and colonial wool are
progressing with a
remarkable degree of firmness, the competition for
the parcels offered is very active, and there is a
large attendance of both home and foreign buyers.
Notwithstanding the general prosperity of the
trade of the country, and the caution evinced in all
departments of business, futher mercantile failures
are reported. Since the reccnt suspensions among
the Greeks a feic.v English firms have succumbed,
and two more are now added to the last. These
are Messrs. Copland and Baines, of London, an
old established firm in the prov.sion trade, with
liabilities roughly estimated •f 50,0001., and Messrs
elig,ged in the Arne.
titan trade, withfLl of about 100,0001. ;
with regard to the assets of these two houses no
reliable information has yet transpired.
An active business is still being transacted in the
silver market, and it is expected that the shipm"nts
on the 20th will be heavy. The fixed price for bar
gn 611d.per oz.
A
silver is jtding .peorfort.hhei Garnettgherbeitad Mouseley Gold
i
Mining Company has just been held ; Mr. Gill in
the chair. The report stated that from the last
appeal to the shareholders only 2,0001. had been
raised towards the payment of the debts of the
company, leaving upwards of 10,000/. to be pro-
vided. In consequence of the different opinions as
to the value of the property, it was agreed to send
out a competent person to report on the position of
the mine.

The applications for discounts ha Lombard-street
and at the Bank of England have not been quite
so nunirous this morning, but whether the market
is about to become easier is very doubtful, notwith-
standing the sanguine views which many entertain
of trtiaedseld, es
shtihche aloneiniuiraY for the legiti-
mate re almr,st suffi-
ontlipisusrupbojseecst.
cient to keep money dear, there are several schemes
s of capital now
which
gw iol lv
eabsorb
iluaarrgkee
ta.m °Omit"
te
of this is the
Nation.d Bank of Turkey, with a capital of
10,000,0001. It has recently transpired that the
concession for this important undertaking has
been granted to Mr. Wilkins, the represen
tative of the English Company, One por-
tion of this amount will be sent from this
country, t ut, added to other schemos, which will
be introduce 1 at the first favourab'e opportunity,
there is a prospect of a continuous efflux of specie
from England to the Continent. The silver opera-
tions are still withdrawing large quantities in gold,
and 3(1,000/. or 40,0001. in that metal was sent
away yest ,relay. These movements will continue
to arrest a decline in the minimum, and there is
reason to believe that although the pressure may
not become more severe, there is just as little pro-
spect of much additional ea,:e.
Continued flatness characterises the English Stock
Market. Business is dull, and politics now exer-
cise paramount influence. A short time since money
was the chief consideration with the speculators, but
the proceedings iu Parliament have lately directed
their operations. With an approaching dissolu-
tion there is naturally a disinclination to enter into
large operations, and the market consequently
droops. Consols have been 93} and 93a k for 5
money, and 94 to 94f for account. The New 5
Threes are 931 to 94, and the Reduced, though 20
shut, have been 93i f. Bank Stock is 2204. Ex 10
-
chequer Bonds are par to 3s. prem. 10
Foreign Securities were also very quiet. Turkish
6
,per Cents. have been 971 I, Spanish 3 per
Cents. are 41, Dutch 4 per Cents. 98 /, Mexican It 0
3 per Cents., account, 22k, Peruvian 4i per Cents., 18
account, 78g., Russian 5 per Cents. 1071, and. ditto
18
4i per Cents. 98i. 20q
The following are the nominal prices of Foreign 100
Stocks :—Grenada Deferred Bonds, 61 7' • Mexi- 100
can, 22f A ; Peruvian, 41 per Cents., 79 80 ;
ditto Three per Cents., 55 57 ; Portuguese 3 per 100
Cents., 44 46 ; Russian 5 per Cents., 107 109 ; do. 'al
20
4 per Cents., 97 99; Spanish 3 per Cents., 401 t; 20
ditto New Deferred, 24i ; Ditto Certificates, 20
61 ; Ditto Passive, 5i 6. 17.
Messrs. D. Bell, Son, and Co., report that the ?_O.
market for American Securities during the past St
week has been inactive, and the transactions have "
100
been quite limited, and at prices generally in favour 100
of the buyer : 20
GOVERN3IENT BECUUITIES.
Redeemable. Per Cent.
United States 6 per Cents. 1867-18.68-105 106
United States 6 per Cent. 80nd5........... 1863...105 106
Alabama 5 per Cent ............................ 78 80
STATE SECURITIES.
Maryland 5 per Cent. (Sterling Bonds)...
Massachusetts 5 per Cent. (Sterl. Bonds).
Mississippi 6 per Cent. pl. Bk.
Bonds ... lB4l-1871— 40 42
Mississippi 5 per Cent. Union Bk Bonds ••• 16 18
Pennsylvania 5 per Cent. Stock
Pennsylvania 5 per Cent. Bonds 1877... 80 81
Tennessee 6 per Cent. Bonds
Virginia 6 per Cent. Bonds 1886... 82 84
Virginia 5 per Cent. (Sterling Bonds) 1888... 84 86
LOANS OF CITIES.
Montreal 6 per Cent. Bonds 1856-1865... 82 84
New Orleans 6 per Cent. Stock 1883... 75 77

... 89 91
_lOl 102

RAILROAD BONDS.
Illinois Central 7 per Cent. Ist Mortgage,
not Convertible 1875... 90 91
Illinois Central 6 per Cent 1875 87 89
Illinois Central 7 per Cent. Freeland
Bonds
Illinois Central (Shares), $3O paid 30 32 p
Michigan Central Bp. Cent., Convert 1860...
Do. do. do. 1869... 91 92
New York Central 7p. Cent., Convert 1864... 93 95
New York Central 6 per Cent., not
Convertible 1883... 80 82
New York and Erie 7 per Cent. 3d Mort
gage 188.3... 85 87
N. York and Erie 7p. Cent. Convertible 1862... 80 82
N. York and Erie 7 per Cent. Sinking
Fund 1575... 83 F 5
Panama 7 per Cent., lst Mortgage 1865... 9
Pennsylvania Central 6p. Cent.,ist Mort 1880... 89 t)0

The business trans-scted this morning in Railway
Shares has been rather active, but at a decline of
about toll per cent. on most of the chief lines
compared with yesterday's prices. Great Western,
North-Westifn, South-Western; Manchester, Shef-
field, and Lincoln ; North British, and South-
Esstern declined ss. ; CAledontan, Great Noithern,
and Midland, 103. ; and North-Eastern (Berwick),
15s. Paris and Lyons hive receded 10s. Sambre
and Meuse advanced 55., Great Western of Canada
55., and Grest Indian Pentnsula ss. British, Foreigo,
and Colonial Mining Shares have been very inactive.
South Wheal Frances brought 335 ; Tin Croft, 4a ;
and Northan and United
Mexican,
In Joint Stock Bank shares no business of any
~ Frances, 18
li. ;
importance has been done. Ottoman Bank im-
proved 10s. ; and Union of Australia declined 15s.
Miscellsno nis sha-es are inactive. Canada Land
are 151 ; National Discount Company, 4 ; and
Peninsular and Oriental Steam, 68.

BRITISH FUNDS THIS DAY ATONE O'CLOCK.
(iron the 0.111:tal List.)
'tootles, don.
Bank Stock
3 per Cent. itoducod Anntiitt!+s
3 par Cent. Consols tin!isitle7
Now 3 per Cont. Annuities....... 94 3
Loac; Annuities, expire sth Jan. 1860..... Shut
Ditto 3) Years, expire 10th Oct., 1859 Shut
Ditto 39 Years, expire sth April, 1885 , Shut
India Stock ..................................... 221
Consols ;or Account ..
...... .. 94 h
E Leheriner Bills, 24":
£IOOO
g5OO. ......................................... par 3 p
Small .. ...................... 2
Ditto Lonely, 1858, 31 per Cent. 9 '
Ditto, 1359
5..p.e..r C. el:nti ... ..
1-i2lli
PRICES OF FOREIGN FUNDS AT ONE O'CLOCK.
Vulcan 3 per Cent
.....
Ditto Account
Ditto, 4i per Cent,
itvati
oral nA
.13 Icolenoodnusdn, s
tl4 ic2.
.12:
,eri:Cent
,
Spanikh Bonds, 3 per Cent.
Peruvian
Ditto Account .........
Turkiett Ponds, 6 per cent -
Ditto Account . • 97h I
Divbienda on tile above payable In Lonl(n.
Dutch Exchange, 21 per Gon;„ 12 Guilders -
Ditto 4 per Cent. Certificates .... 9' B
TWO O'CLOCIC.,
Consols, money
Ditto Account „ 93i 91