The Sun.
London, England, 1857-11-04 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCIE.

CITY, Two o'CLoca.

Accounts from Liverpool mention that the
Cotton Market yesterday closed very heavily, and
values tended downwards. The sales amounted
3,000 bales. The railway share market closed with
a more active appearance, but prices were at a
slight decline.
This being the fourth of the month, and an it is
known that an exceedingly large amount of com-
mercial bills fall due, much anxiety is felt to learn
the result of the day's payment, the late cell'spse
in American credit necessarily causing some los. to
British merchants, and in some cases producii 'g
temporary difficulty. From the most careful in-
quiries it may be gathered that the bills arriving at
maturity to-day will be duly honoured with not
more than the usual amount probably of returned
bills. The probable effects of current events in
America have, there can be little doubt, been un-
duly magnified in some quarters.
Money has, by the high rate of interest offered
by the Banks and discount brokers, become ex-
tremely plentiful, notwithstanding the high charges
fixed by the Bank of England for accommodation,
and thus one of the natural elements of stability
is afforded the commercial interest. They have
not to contend with a scarcity of money, but with
onerous rates of discount, a feature which has been
too little dwelt upon by some of our contemporaries,
and a disregard or forgetfulness of which has been
apt to lead to unsound conclusions.
The worst feature in the aspect of monetary
affairs at the present moment is the continued ab-
sence of supplies of Australian gold, to which quar-
ter
we are now restricted, shipments from America
in any quantity having ceased for a while. This,
with an active demand for export to America and
the Continent, is causing a renewed drain upon the
stock of bullion in the Bank, which, if it continues
for any time, must perforce compel the directors to
again raise the rate of discount, to probably 9 per
cent, as a half per cent. advance would now be
of no use whatever in checking the drain. Parcels
of gold, in sovereigns for America, and in bars for the
Continent, are being taken out almost daily. In one
shape or way about 200,0001. is believed to have
been taken since Saturday morning. While the
bank is losing
sits gold, its circulating power is con-
tracted ; hence its means of affording accommoda-
tion to the commercial classes becomes proportion-
ably restricted.

The silver market is quiet as usual immediately
after the departure of the bi-monthly mail to the
East. Subjoined. are the current quotations in the
bullion market, which exhibit much *firmness :
Bar gold, 775. 9d. per oz., standard ; United
States gold coin, 775. per oz. Bar silver, ss. lid.
per oz. standard ; and five franc pieces, 4s. llid.
per oz.

Great disappointment and regret is felt at iha
untoward delay in the launching of the Great
Eastern steam-ship, now christened more properly
the " Leviathan." The engineers will, on the next
trial, take measures to prevent any similar accident
to that which occurred yesterlay, and by which
the launch of the vessel is delayed.
The present weather is unfavourable for out-
door agricultural labour, but considerable progress
has, however, been made in autumn seed-sowing.
The breadth of land under cultivation next year
will probably much exceed that of 1857.

St.

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10 11
St. 101
st. 101
St. 104

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26

Accounts from Scotland announce another failure
there in connection with the American trade, but
the arrangements effected to give assistance to the
Western Bank of Scotland, will naturally relieve
the local interests, and favourably react in houses
here.

The market for Public Securities this morning
exhibits a very depressed appearance, and the
' Bears" are temporarily profiting by the move-
Mont in the quotations. After the recent inflation
they considered themselves justified in effecting ex-
tensive sales, and these operations appear to have been
justified by the continuous efflux of gold from the
Bank of England. Whilst this drain exists there will
be a good deal of uneasiness since these withdrawals
always exercise a depressive influence. Occasionally
undue importance is attached to them, but now
there seems to be a just cause of apprehension,
especially as the inconvenience felt in commercial
circles, through the continuance of the present
restrictions, is very scarce. Consols for money
and the 10th inst. have been 89k and they
are now 891 ±to 89i 4. The New 3 per Cents.
are 88i ; the Reduced, 881 a. Exchequer Bills,
14s. tolos. discount ; and India Bonds, 40s. dis-
count.

In the Foreign Market a large amount of busi-
ness hasbeen done, but generally at reduced quota-
tions. Turkish 6 per Cents. were 87i 88, but they
are now 871 1. The 4 per Cents. are 971 Some
of the other stocks have been dealt in as follows :
Brazilian 41 per Cents,'9s ; Danish 3 per Cents.,
831-41 ; Mexican 3 per Cents, 18; 19 ; Portuguese
3 per Cents., 43i ; Russian 41 per Cents., 97 ;
Sardinian 5 per Cents., 89 ; Belgian 4i per Cents.,
95 ; and Dutch 24 per Cents., 631.
The following are the nominal prices of Foreign
Stocks ;—Grenada, Deferred Bonds, 5 6 ; Mexi-
can, 18i 19 ; Peruvian 41 per Cents., 75 77 ; ditto
3 per Cents., 51 53 ; Portuguese 3 per Cents., 43
44 ; Russian 5 per Cents., 105 107 ; ditto 4i per
Cents., 96 98 ; Spanish 3 per Cents., 401 41 ; ditto
New Deferred, 251 2.

In the Railway Share Market the transactions
were very limited, a decline of about 4 to 1 per cent.
may ba quoted on most of the principal lines.
Lancashire and Yorkshire receded 55., Brighton
and Midand 10s., Great Western 155., and Cale-
donian, North-Western, South-Western, and Man-

cheater, Sheffield, and Lincoln, 11. Scottish Central
improTed 11., and Eastern Counties about ss. The
Foreign and Colonial lines also exhibited a down-

ward tendency. Paris and Lyons receded 15s. ;
Grand Trunk of Canada, 1/. to 1/. 10s. ; and
Great Western of Canada, les.
Mining Shares were quiet. Sortridge Consols
brought 21 to 2 ; and Wheal Mary Ann, 49k.
Joint-Stock Bank and Miscellaneous Shares are
flat. Oriental Bank declined 55., and London and
County and London Joint-Stock advanced ss. The
Miscellaneous market exhibited little change. Elec-
tric Telegraph realised 100 ; Peel River, 2 ; and
Crystal Palace Preference Shares, 41- to 4t.

BRITISH FUNDS.-CLOSING PRICES-THIS DAY,

(From the Official List:l

Bueinere done.
sank Stock
211 9 i 0
3 per cent. Reduced Annuities 88a
. per Cent. Console Annuities 894 I 9 New 3 per Cent. Annuities 88a I
Loug Annuities, expire stti Jan. 1860
lia Ronda, .a:1000
.......
`ditto, under 1:1000
.. ....
39 34 d
E
CoLsola ;or Xecount
.................
Es ilegue- mile, 24( .
2 tOeu ............ ..............
8 lab... II••••• ....... •40
_Exchequer LSOLitift, LO5B, A, per 98t
Ditto, 14i59

PRICES OF FOREIGN FUNDS—THIS DAy.
Brazilian 5 per Cent.
Ditto 1852, 41 per Cent.'
Danish Bonds, 3 pet Cent., 1825 B3l 41
Mexican 3 per Cent -
Ditto Account
Portuguese Bonds, 5 per Cent., Con. 1841
Ditto 1853, 3 per Cent
Rusiian Bonds, DS22, St., 5 per Cent lO5
Ditto, 41 per Cent.
Sardinian Bowls, 5 per Cent. ..•.......•.••• 89
Bp Bowls, .3 per Cent.
Dittc New Deferred, 3 per ..... 20i 1
Ditto Account
urk ibn Honda, 6 per cent B7 8
Ditto Account
Ditto Guaranteed, 4 per Cent.
Dividends on the above payable in London.

Belgian 21 per Cent., ex. 25 francs
Do. 41 per Cent.. ox. 25 francs.
Dutch Exchange, 21 per Cenl., 12 Guilders 63i

THREE O'CLOCK•
Consobi, money
Litte account (November 10) B9 I

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SUICIDE OF THE HOUSEKEEPER OF CLERKENWALL "5
POLICE-COURT.—Yesterday, information wag forwardd 25
to Mr. Wakley, the coroner, of the suicide of Mrs', 25
Williams, late housekeeper of the Clerkenwell Police ,i
...
Court, which took place the previous forenoon. The i 60
unfortunate woman was found suspended by a rope to a 1 100
sail in her own Apartment. 100

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