A thin tube of uniform cross-section is sealed at both ends. When it lies horizontally, the middle $5\, cm$ length contains mercury and the two equal ends contain air at the same pressure $P$. When the tube is held at an angle of $60^{\circ}$ with the vertical, then the lengths of the air columns above and below the mercury column are $46\, cm$ and $44.5\, cm$ respectively. Calculate the pressure $P$ in cm of mercury. The temperature of the system is kept at $30^{\circ}C$.