The Sun.
London, England, 1852-11-20 00:00:00

THE SUN, LONDON, SATURDAY

MONEY AND COMMERCIAL NEWS.

CITY, Two o'cLocK.

The sales of cotton at Liverpool yesterday were
estimated at 5,000 bales, of which 1,000 were taken
for export and on speculation. The market was
dull. Railway shares were firm at rather higher

rates.

The large amounts of gold received from Aus-
tralia a fortnight since, and the sum also that the
Ottoman Government has sent with the object of
meeting its liabilities, caused an increase in the
bullion held by the Bank of England during the
week to the 13th inst., and although there was a
larger amount of loans or discounts, the increase in
the public deposits threw back again upon the
Bank a portion of its note circulation. The private
deposits were lessened, and this, with the larger
discounts, would indicate readier employment for
cash. Compared with the previous week, the
changes have been as follows :

Notes issued....
Increase

£34,699,275
106,540

Notes reserved

Increase

11,496,990
255,400

Other deposits
Decrease

12,367,099
286,574

Other securities .

Increase

11,493,768
131,233

Bullion

Increase

21,273,772
378,352

Active circulation
Decrease...

23,202,285
148,860

Bills of Exchange on the principal Continental

cities were negotiated yesterday at very full rates.
Paris, 90 days, was taken at 25.40 to 42i ; Amster-
dam, 11.18 f to / ; Hambro, 13.6/ to 7/ ; and
Trieste, to 11.45 to 48.

By the Maitland, sailing vessel, from Sydney,

[ere are are no later dates than June 26, but

57,3001. in gold is on board. Vid Peru and Panama
there are August accounts to the 24th, and these

state that the mines were yielding largely, and that
several vessels had left during the month, some
with good amounts on board. The new clip of
wool was disparagingly spoken of, the want of
labour being a great obstacle to its being secured in

good condition. Cartage to the mines was still
enormously high.

While touching upon Australia, it should be ob-
served that the General Screw Steam-ship Comi

party held its meeting yesterday, for the purpose of
considering the expediency of extending its sphere
of operations to the colonies ; the result being the
approval by the shareholders of the objects pro-
posed. We shall consequently have the great ad-
vantage of extended steam communication to the
antipodes, without the trammel of any Government
..gontract.

The meeting, yesterday afternoon, of Turkish

Bondholders, convened by Messrs. C. Devaux and.
Co went off very well, and the explanations given

by the contractors proved very damaging to the credit

of the Ottoman Oovernmen-t. Messrs. Devaux's

commission, it appears, was under 1 per cent., ano-
ther 1 per cent. going to the Paris firm, and the loan

issued at par.

The: Turkish Ministers, according

to the statement both of Prince Callimaki and IT

Couturier, gave both the latter full power, by an
instrument dated in August, to modify the terms set
forth in the firman of June, and when the loan
had been concluded, _M. _ Couturier advised

his government thereof, and received from it a
letter of approval, with directions to pay off certain
engagements which the government would other-
wise have remitted for, as usual. The balance,
80,0001., was sent to the Ottoman Treasury. And
yet, 44 days subsequently, because a political crisis
and a change of ministry intervened, the loan was
declined ! To decline a loan after the money has
been had and spent, and saved the recipient from

suspension, is certainly an original proceeding, un
known in European commerce, and leads to the in-
evitable conclusion that compensation to the lend-
ers is indispensable. From all we hear there iss trong
reason to believe that this will be given, or pos-
sibly the loan may even yet be recognised. Under
the circumstances, we are not surprised that the
meeting should have felt indignant, and passed
unanimously the following resolution :
" The meeting having heard the statement submitted
to them by Messrs. C. Devaux and Co.,
"Resolved—That the Ottoman Government is bound
by the treaty for the Ottoman Loan entered into by
Prince Callimaki and Mr. Couturier; and expresses its
astonishment, that after the first instalment had been
paid, and the money appropriated to the purposes of the
Sublime Porte, that any attempt should be made to re-
pudiato so solemn a contract_
"That a committee of ten gentlemen be .pp0i..4,0a fr,
promote and protect the interests of the holders of the
said Loan ; and that they be authorised to take such
steps as they may deem best calculated to obtain the
fulfilment of the obligations entered into by the Ottoman
Government.
" That the committee consist of S. J. Waley, Esq.,
W. H. Mullens, Esq., Count Strzelecki, C. 8., Baron
de Goldsmid, G. E. Seymour, Esq., Wm. Tite, Esq.,
Joseph Locke, Esq., M.P., Lewis Cohen, Esq., James
Capel, Esq., H. Guedalla, Esq. ; and that Messrs. C.
Devcaux amd Co, be requested to co-operate with them,
and that they be also requested to place all documents,
papers, and correspondence in reference to the said Loan
at their disposal."
The Committee of Spanish American Bondholders
have received late information from their agent in
Ecuador, Mr. E. Mocatta, and it reads well. The
President, who has been ill, had recovered, and
promised his best exertions to get justice done to
the Bondholders. The survey of the country to
discover mineral lands was to be allowed, and if
these should prove satisfactory, there will at once
be a source, when revenue can be derived, to meet
the interest on the debt. The following is a para-
graph from Mr. Mocatta's letter :
"The decree, to which I referred in my last, has, after
some discussions, been passed, which enables the Execu-
tive to treat with me without reference to any future
Congress ; this is a great point gained, as a general
measure, inasmuch as it secures to me the privilege, on
behalf of the Bondholders, to propose measures without
the risk of undue interference on the part of others ; and
while it confirms in a legal manner the law of public
credit of 1845, in which sundry provision is made for the
foreign debt, it also clears away sundry ancient claims
of territory by reason of concessions made by previous
Governments ; thus, if the Ecuador committee pursues
its avowed intentions of surveys, &c., we have a clear
field which will undoubtedly lead to an improvement of
the general revenue of the country, and thereby create
means for the payment of the interest of the debts."
Since writing the above a telegraphic despatch
has been received, to the effect that the Eagle has
arrived from Melbourne, with dates of Sept. 3,
having performed the voyage in 76 days.. The
Northern Mines were then becoming more attrac-
tive than those in the Alexander district. An im-
mense traffic had arisen between Sydney and Mor-
peth en route for the Northern Mines, and a gen-
tleman has arrived, it is said, for the purpose of
purchasing three steamers for the Morpeth trade.
The Dido is said to be on her way home with
280,000 ounces, or 1,100,0001. The Eagle has it is
reported 600,0001.
The exports of the precious metals from London
were 5,050 oz., and 9,5001. in gold, all to Ham-
burgh, during the week to Thursday last, and
7,040 oz. of silver to France, Germany, and Bel-
gium.
Stocks are still advancing, owing to the money-
purchases .of the Savings Bank and National Debt
Commissioners. Consols have been 100* to for
Transfer, and 1001 to for Account. The Now
Three-and-a-Fourth per Cents. have been quoted
10* to 103/, and the Three Per Cents. 99i to
100/. Bank Stock is steady at 223. India Stock
is not quite so good, being at 275. Exchequer
Bills
raeriegn72stpoclis remihumave been very dull—Spanish
Deferred are heavy, at 24-2. to 25; Portuguese 4
per Cents., are at 37i- to 38; Buenos Ayres Bonds
are worth 74; Brazilian Seri
Turkish Loan is at 2 premiump, is
;Bealtgia9n6i.44 The
CeThntse.,Eanrgeli9s7l:t
Railway Shares are all good but the
most important movement is in Caledonian and
York, and North Midland ; French Shares are
quiet, and lower generally.
w

BRITISH FUNDS AT ONE O' CLOOKTHIS DAY,
(From the Official List.)

Bank Stock
3 per Cent. Reduced Annuities 991 100 i
3 per Cent. Consols Annuities. ..... •••••••• ••• -
New 31 per Cent. Annuities..— lO3 21 3k
Long Annuities, Expire sth Jan., 1860..... 6 7-16
India Stock ....................................... 275
Consols for Account
Exchequer Bills 1,12 d. March.
D.OOO.
£5OO
Small
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK
Brazilian 4i per Cent 961
Buenos Ayres 6 per Cent
Portuguese 4 per Cent.
Spanish Bonds, 3 per Cent ...
Ditto New Deferred, 3 per Cent
Turkish Loan, 6 per Cent., 1852
Ditto for the Account 2i p
Belgian Bonds, 4i. per Cent. Ex. 251 r 97 8

Juno,
69
72

25 4i

TWO O'CLOCK
Consols
Ditto Account, Dec. 9 looi

FRANCE.

We have received the Paris journals of yesterday.
In consequence of the propagation at the Bourse,
and elsewhere, of false rumours (among them that
of a serious accident having happened to the Prince
President whilst taking an airing), with the inten-
tion of producing a fall in the public securities, or
creating general uneasiness in the public mind, the
Prefect of Police has caused to be posted on the
walls of Paris the following notification, dated the
18th :
" Some persons having, with a culpable object, spread
in all places, and especially at the Bourse, false rumours
calculated to disturb the public peace, and influence the
price of public funds and other securities, a prosecution
has been ordered, and the offenders will be given up to
justice to be punished according to the rigour of the
laws. The Prefect of Police, desiring to prevent the
return of such acts, thinks it right to recal and bring to
the knowledge of all, the penal enactments which punish
those who, even with good faith, spread false news.
The agents of the authorities have received the most
severe orders to be on the watch, and to arrest forthwith
all those who may render themselves guilty of the
offences punished by article 15 of the decree of the 17th
February, '1852, and article 415 of the penal code."
To the above notification is annexed the follow-

ing decree of February 17, above alluded to
The publication or reproduction of false news, or
of documents fabricated, distorted, or false, ascribed
to other parties, shall be punished with a sum of
I,ooofr. If the publication or reproduction be made
with evil intentions, or if it be of a nature to disturb

the public peace, the punishment shall be at least one
year's imprisonment, and from 500 fr. to I,ooofr. fine.
The maximum of the penalty fixed by the penal code
shall be applied where the publication or reproduction
is at once the result of evil intention, and of a nature
to disturb the public peace."
The Moniteur of this day has the following on
the same subject :
" For some time past malevolence has been em-
ployed in spreading alarming rumours. All these
rumours are false. It is not only at Paris, but in the
departments also that they are spread. Within the
last few days they have been renewed with more perse-
verance. Public opinion will not allow itself to be
misled by manceuvres of which it is easy to conceive
the object."
The Moniteur confirms, as follows, the an-
nouncement of the important arrangement between
the Government and the Mortgage Bank, made by
the Patric An agreement between the Minis-
ter of the Interior and the Company of the Mort-
gage Bank of Paris, imposes on that company the
obligation of establishing branches in all parts of
France, and accords to it the subvention promised
by the decree of the Prince President for encou-
raging establishments of mortgage credits, on con-
dition that it will advaiice on real property a sum
of 200,000,000 fr., divided amongst all the depart-
ments, in proportion to the importance of their
mortgage debt. This subvention is subject to the
condition that the loans shall be made at the rate
of five per cent. Everything included—interest,
expense of administration, and sinking fund for
paying off the capital in 50 years—that is to say,
that the debt will be extinguished by the simple
annual payment of five per cent. during fifty
years. Guarantees have also been taken to cause
the interest to remain at the most moderate rate
after the 200,000,000 fr. shall have been disposed
of. This agreement has just been sent to the
Council of State for examination."
The Constitutionnet has the following short
remark on the decision of the Government to reduce
the army :
"The Prince President said at Bordeaux, ‘L'Empire,
c'est la Paix.' He proves it by this decision, which
must put an end to all the reports put into circulation
as to the disposition of some Governments in presence
of the great transformation which is being accom-
plished.'
The Bourse closed with prices firm, and for Go-
vernment securities higher than on Thursday. The
Four-and=a-Half per Cents. opened at 106 f. 50c.,
and closed at 107 f. 25c. for the end of the month ;
the Three per Cents. closed at 86f.; Orleans Rail-
way shares, (new) 1,070 f.; Rouen, 975 f. ; Havre,
525 f. ; Great Northern, 892 f. 50c.; Paris and
Strasburg, 865 f.; Paris and Lyons, 947 f. 50c.;
Lyons and Avignon, '770f.: Western of France,
770 f.; St. Dizier to Gray, 575 f.: Caen to Cher-
bourg, 645 f.; Dijon to Besancon, 630 f.; Bordeaux
to Cette, 655 f.

THE CONTINENT.

SPAIN:

A telegraphic dispatch, dated Madrid 16th, an-
nounces that M. Cristobal Bordin had been named
Minister of the. Interior, in the room of M. Melchior
Ordonnez. Don Mariano Miguel de Reinoso,
Minister of Commerce and Public Works, has re-
tired, and his portfolio is temporarily confided to
Don Bertran de Lis.
The Madrid Gazette of the 14th contains the
Royal decree by which M. Jose del Castillo y
Ayensa, senator, and member of the Royal Coun-
cil, is named Minister Plenipotentiary to the Holy
See, in the room of Count de Colombi, deceased.
The 'fferaldu states that the railway from Aran-
jeuz to Tembleque may be opened to the public at
the beginning of the year if no delay should take
place in the delivery of the working materiel. The
14th being Sunday, the Stock Exchange was not
open.

the cortege. Among the most brilliant illumina-
tions were those of the French and Bavarian lega-
tions. A law has just been promulgated which
prescribes the sale by public auction, with 10 years'
credit, of the national property remaining dis-
posable, such as olive grounds, vineyards, fig groimdg,
houses, mills, buildings, and building ground, &c.