The Sun.
London, England, 1857-10-13 00:00:00

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLoeir.
Accounts from Liverpool state that the Cotton
Market yesterday closed quietly, and prices were
without any material alteration. The sales
amounted to 8,000 bales, 2,000 of which were taken
by the speculators, and 500 by the exporters. The
Railway Share Market closed with a very dull
appearance, and the values of all the leading stocks
were. a shade lower.
Several failures among houses connected with
the American trade have been reported, and among
others may be mentioned Messrs. Monteith and
Co., Messrs. Patteson and Co., and Messrs. Wal-
lace and Co., all of Glasgow. Other firms are sup-
posed to be involved, but measures are being
taken to avert, if possible, any further
disasters. There can be no doubt, however, that
the New York panic will be productive of great
embarrassment, and the advance in the rate of dis-
count must seriously add to their perplexities.
The cessation of remittances, when there is such an
immense amount due to our merchants and manu-
facturers, must at such a juncture prove exceed-
ingly injurious, but those who are enabled to tide
over their difficulties will satisfactorily surmount
them as soon as confidence is restored throughout
the States. The advices latelyreceived announced
further suspensions, but the private accounts hold
out a hope of an early improvement, and con-
fidently aver that the crisis had been attained. The
public must be prepared for disasters during the
remainder of the year, especially if further restric-
tive measures are rendered necessary at the Bank.
The alteration just determined upon does not ap-
to have checked the pressure, and with regard to
the specie movement about 10,0001. was withdrawn
yesterday for export: It is thought that nearly
half a million sterling will be sent to America this
week, and, if this should be found correct, in-
creased uneasiness would doubtless prevail. A
large influx of gold would prove very serviceable at
the present moment, and the vessels from Austra-
lia, now overdue, are awaited with some anxiety.
The inquiry for silver is unabated, and the
steamer on the 20th will probably convey a large
amount, as the Indian exchanges have ad-
vanced, but the difficulty that will be
found in getting bills discounted will necessarily
impede the exportation of the precious metals.
The rates now allowed for deposits on call and for
short peridds are 6 to 6k per cent., and these will
naturally insure a. large supply of capital in the
Money Market. Few will feel inclined to buy
Consols or other securities, notwithstanding their
depreciation, when they can procure, although it
may be only temporarily, such high rates of inte-
rest.
Although it is premature to form any definite
opinion upon the course of monetary affairs during
the next two or three weeks, when an important
measure such as an advance to 7 per cent. has only
just been adopted, the subject is naturally one
which excites general conversation. Apart from
the neighbourhood of- the Stock Exchange, where
views are expressed in accordance with the nature
of speculative transactions, there does not appear
to be so much despondency as might have been
imagined. It is often noticed that in periods of
intense excitement, and when affairs seem to
be verging into a state of panic, that the re-
action is very rapid, and confidence is quickly
restored. It is hoped that the course taken by the
Bank will effect the desired results, and that the
general position of the establishment will soon be-
come stronger. The trade of the country is in a
sound position, and although several failures may
occur, there is reason to believe that the com-
mercial community will emerge from the difficul-
ties occasioned by the disturbance of the money
market without any serious injury. It is desirable
to guard against the gloomy views that may be
taken by alarmists, but at the same time the com-
mercial public will do well to observe great
caution in their various transactions. Looking at
the prudence they have exercised for some time
past, however, it is scarcely necessary to tender any
advice on that subject.
The movement in the market for English Secu-
rities has again been very important. The approach
of the account day and the arrangeroeuts made in
anticipation, naturally occasion a good deal of per-
turbation. The Fuuds opened this morning at a
further decline of nearly per Cent., but when this
depression was established several of those who
bought at higher prices thought it prudent to real-
ise their profits, and their operations being accom- -
panied by a purchase of the November account, the
market became stronger, and the decline was partly _
recovered. Consols, for money, have been 86i -4,
and since then, 874 for money. The November
quotations have been 87, 871, and 88. At the pre-
sent moment they are 871 and 87i respectively.
The New Threes are quoted 86a and the Re- 1
duced, 86k I. Bank Stock was 212 213. Exc
quer Bills were marked 20s. to 7s. discount. The I,
Government broker bought about 10,0001. at Bs.
discount.
The operations in the Foreign Market have not
extended to many s'curities, but for such as have
been dealt in the quotations have been variable.
Turkish 6 per Cents. have teen 841, 861, 85i, and
86/, the last quotation being 86 to 86i. The 4 per
Cents. are 961 to 97A ; Dutch 4 per Cents. 97 ;
and Peruvian 761. Mexican are as low as 19.
The following are, the nominal prices of Foreign
Stocks : Grenada Deferred Bonds, 5 6 ; Mexi-
can, 19 19i ; Peruvian 4i per Cents., 76 78 ;
ditto 3 per Cents., 52 54; Portuguese 3 per Cents.,
44i 45/ ; Russian 5 per Cents., 107 109 ; ditto 4i
per Cents., 96 98 ; Spanish 3 per Cents., 40 41 ;
ditto New Deferred, 241 5f ; ditto Certificates, —;
ditto Passive,
The Railway Share Market has again exhibited
increased depression, and a further decline of about I
1 to 11 per cent. may be noticed in the values of
most of the principal lines. Eastern Counties,
Great Northern, Lancashire and Yorkshire,
Brighton, North Western, Manchester, Sheffield,
and Lincoln, receded 11. ; South-Eastern, V. ss. ;
Caledonian, North-Eastern (Berwick), and North-
Eastern (York), 1/. 10s. ; and Chester and Holy-
head, 21. The Foreign and Colonial lines are
also extremely depressed ' • Eastern of France have
receded 11. ; Paris and Lyons, 15s. ; Lombardo •
Venetian, 15s. ; and Great Luxembourg, 10s. ;
Grand Trunk of Canada have declined 21., and
Great Western of Canada 15s. to 11.
Mining Shares are quiet, but prices are steady.
Alfred Consols, 13g ; North France, 13i ; and
Sortredge Consols, 21.
Joint Stock Bank Shares are flat. English, Scot-
tish and Australian Chartered have receded 108. ;
Ottoman Bank, ss. ; and London and County ss.
In the Miscellaneous Market Netherlands Land
Shares were 2t ; Peninsular and Oriental Steam
declined 11., viz., to 73.

BRITISH FUNDS.—CLOSING PRICES —THIS DAY
( Tram the Officsal List:)
Business done.
Bank Stock
3 per Cent. Reduced Annuities B6i 5i 6i i
.1 per Cent. Consols itnnsitiee B6,i 7/ 7 iii
New 3 per Cent. Annuities 853 6g i g i
Long Annuities, expire sth Jan. 1860 2 x d
Ditto 30 Years, expire sth April, 1885 l7s
India Stock, 2lO
0 n.sols for Account,
Exchequer Bills, z4ei
£lOOO .
Fxcbequer Bonds, 1858, 34 pe7Cent —
Ditto, 1859

PRICES OF FOREIGN FUNDS—TIIIS DAY.
Mexican 3 per Cent
Ditto Account ....
Peruvian Bonds, 4i per Cent l9 ,11
Ditto Account —
Russian Bonds, 1822, E St., 5 per Cent._ 7_6i
I Ditto, 4i per Cent.
flptnish Bonds, 3 per Cont.
40i
Ditto New Deferred, 3 per Cur.
Ditto Account
Surkish Bonds, 6 par cent
Ditto Account .. ................... ."—...31.1 6.}5i 7 6i i x d
Ditto Guaranteed, 4 per Cent. , —
EDitto Account ...... .
Dividends on the above payable in London.
Dutch Exchange, per Cenl%, 12 Guilders 64
Iwo. 4 per Cent. Certificates .........
THREE O'CLOCK.
Consols, money
..
........ 87i
Consols for account, October 14 ......... 87;1 i

20
20
33i
10
20
20

GREAT NORTHERN PREFERENCE CLAIMS.'--'lt in TU•
moored that the directors and representatives of the
pereference stocks are in negotiation with a view to a
oompromise.—Herapath.
CAPTURE OF THE REDAN AND MAIIAKOFF. —Sad, nly
the batteries opened flue in every dirlection, shaking the
very soil on which we steod. Conde of smoke enveloped
the besieged city. - Not a thing could be seen or heard
but a continuous rolling noise similar to that of an °alit -
quake. All at once the noise ceasefl, and the rattle of
musketry was, heard, with, at intirvals, cannon and
mortar shot. By degrees, thanks to!the heavy gale, tt e
atmosphere got clearer, and by the at'd of a telescope of •
Canld distinctly see the French flig fl,ating from the
Malakoff, and the troops mounting
when th news was brought
to the assault. An
yi,
bout had scarcely elapsed 7
of the capture co!' the Maiakoff b the French, and of
the Medan by the English. Aides-lle-camp were flying
in every dilectitn, and numters il wounded were on
their way to the hospitals. —Soyer's Culinary Campaign.

Paid

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