The Sun.
London, England, 1855-12-22 00:00:00

COMMERCIAL INTELLIGENCE.

CITY, Two o'CLoca.

The Liverpool Cotton Market yesterday re-
mained steady. The sales were 7,000 bales, 1,000
on speculation, and for export, fair Uplands rea-
lised 7id., Mobile 6d., and Orleans 6.1 d. The
Railway Share Market has experienced a decline
from the prices of Thursday, and the tone of the
market was less firm.

The Bank of England Return completed for the
week, ending December 15, presents some interest-
ing changes, as the increased issue of 475,000/. au-
thorised by the order in Council is brought into
the account. The alteration produced is exhibited
in the large increase in the reserve of notes. The
bullion shows a satisfactory increase. In the next
balance-sheet some of the items are expected to
show some important variations.
Active Ciroulation £18,581,360
Decrease 98,980
Bullion -. 11,306,338
Increase 226,760
Rest 3,205,482
Increase 12,454
Public Deposits 4,428,440
Increase
Other Deposits
Increase
Seven-Day and other Bills
Decrease 82,713
Government Securities 9,780,376
Decrease 475,000
Other Securities 18,360,761
Increase 219,492
Notes unemployed 6,556,625
Increase 797,440
'A telegraphic despatch from Madrid concerning
the recent concession of the Spanish Government
to form an establishment at Madrid on the same
principles as the Credit Mobilier of Paris, which
has gone the round of the newspapers, states what
is incorrect. It is not with the Credit Mobilier of
Paris that they have treated in this matter, but
with M. Periere personally. That gentleman had
volunteered, upon the invitation of the Govern-
ment, to assist in establishing such a company in
the same manner as he has assisted in forming the
Austrian Railway Society. On the formation of
the Madrid Bank of Credit it is probable that M.
Isaac Pereira will be nominated president, and M.
Emile Pereire a member of the council of adminis-
tration.

There is very little of importance from the
Foreign Bourses. At Paris business was dull yes-
terday, and the French Funds falling. The 3 per
Cent. Routes for the account declined 30e., and
250. for money, equivalent to per cent. At
Vienna a better state of affairs exists, the 5 per
Cents. have risen and the 4i per Cents. I. Bank
Shares, Old fell 41, and New Scrip rose lfl. Aus-
trian Railway Shares advanced 20., and those of
the Credit Mobilier are steady at 110. Exchange
on London, 10.49 ; on Paris, 1281 ; and on Augs-
burg, 1111.
During the week ending Thursday last the ex-
ports of the precious metals from London consisted
of 1,0001. and 2,800 ounces of gold to Mogadore
and Boulogne. The shipments of silver were 60
ounces only.

Although the negotiation of the New Russian 5
per Cent. Loan is a subject of the highest impor-
tance to this country, it does not appear that the
details of its progress will be allowed to transpire,
or at least so freely as could be wished ; and, in-
deed, this is not so much a matter for surprise,
when the humiliating terms upon which its nego-
tiation is attempted are taken into consideration.
A 5 per Cent. Stock issued at 85 is of itself an
admission of the straits to which the Czar is
reduced, but even if it meets with favour among
Continental capitalists, which the friends of
Russia so anxiously desire, it is pretty clear that,
upon the most liberal estimate, the money will not
be obtained even at 82. The contractors will, of
course, take advantage of the Autocrat's necessities,
and will require a large bonus for their exertions
on his behalf, while the charges, commissions, cost
of transmission, &c., will materially reduce the
aggregate of the capital subscribed. Still, as
before stated, under this head, there can be no
doubt that the Treasury at St. Petersburg, the
depletion of which must long since have been
foreseen, will temporarily be supplied with
means, and there is likewise a probability that
will, in some degree, be procured indirectly
from this country. There appears to be no possi-
ble plan for avoiding this unpalatable contingency,
for while so many wealthy States maintain their
neutrality capital can always be drawn from Eng-
land, although the transaction may be attended
with proportionate sacrifice to the parties con-
cerned. Besides the mercantile facilities, which
will render this comparatively easy, there are yet
other arrangements that can be made instrumental
n assisting Russia in her financial distress. We
allude to the partisans of Alexander, now enjoying
the hospitalities of this kingdom, and who have not
hesitated to exhibit the feelings of consideration
they entertain towards our enemy, and, being in
Allan)? cases affluent and influential, are enabled
through their connexions on the Continent directly
to participate in the new loan. The attempts of
our Government to impose obstacles, if such were
contemplated, would possibly be ineffectual ; and
even if they were successful in the highest degree
in preventing assistance being given by
residents in England, even then the loan
may be secured among the monied classes
in Germany and Holland. We are led to
the consideration of this branch of the subject by a
statement made in reference to an inquiry reported
to have been set on foot by the English Govern-
ment in reference to the late efflux of bullion to
places abroad, the commercial relations of which
are not altogether of the most satisfactory descrip
tion.

The English Stock Market has continued in-
active, and Consols have been 88# all day. The
New 3 per Cents. have been 89 to 894, the Reduced
8S to 88i. Bank Stock was again marked 205.
Exchequer Bills brought 6s. to 3s. discount, being
an advance of Is. The market for discount ac-
commodation is rather easier, and there is an ex-
pectation in the Stock Exchange that a reduction
may before long be made in the rates.
No change of importance has occurred in the
Foreign Stock market, which is likewise dull.
Turkish 6 par Cents. are 83k, being rather flatter,
and the New Scrip is heavy at 3} discount. Vene-
zuela Deferred Bonds are 11i, Grenada Active
19, and Mexican 19,E to 194. Spanish Deferred
are 21#, and the Passive 71 to 7i.
The following are the nominal prices of foreign
stocks: Grenada Deferred Bonds, 6i to 7 ;
Mexican, 19i to 19TT ; Peruvian, 74 to 76 ; ditto
Three per Cents., 52 to 54; Portuguese Four per
Cents., 48 to 50 ; Russian 5 per Cents., 95 to 97 ;
ditto 4i per Cents., 88 to 96 ; Spanish Three per
Cents., 40k to 40i ; ditto Deferred, 211 to
21i ; ditto Certificates, 4i to 3 ; ditto Passive, 71
to 7i.
Railway Shares rule very quiet, but in the Eastern
Counties, Manchester, Sheffield, and Lincolnshire,
and North-Eastern (Berwick), a slight advance has
been obtained. Foreign and Colonial Lines are
about the same as previously.
In other descriptions of Shares the dealings have
Presented no feature of interest.

BRITISH FUNDS THIS DAY AT ONE 0 CLOCK
( Prom the ()Pal List.;

nnsineA done.
Bank Stock „ ............................... - ••• "
31par cent. Reduced Annuities ...... .. BB i
New 3 per Cont. Annuities ..... B9i 1 9
rion.ols :or Account Si
Etehequer Bills, 24d.
QlOOO .
fhnnll ... 7 3
.
Ditto Bonds, 11458, 34 par Cent 974
1859 ~
11
PRIM OF FOREIGN FUNDS AT ONE O'CLOt K
Grenada New Active, 14 per Cent.
litexican 3 per Cent.
Ditto Account
SplT,ll4. P.01.4(19, 3 per Cent ... .......... ......
Ditto Account ...................... ... ........
Ditto Pow Deferred, 3 per Cent.
DittoAocount
Ditto Passive
Turkish Bonds, 6 per cent —
Ditto for the Account ...............
Ditto New Scrip, 4 per Cont.
Ditto Account
Venezuela Bonds, 41 per Cent —
Ditto Deferred, 14 per Cent.........
uividends on the above payable in London.

TWO O'CLOCK.
Console BBi