The Sun.
London, England, 1852-12-09 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, Two o'CLocK.
The sales of cotton at Liverpool yesterday were
estimated at 4,000 bales, of which 500 Surat were
taken on speculation. The market closed heavily,
compared with Friday's rates, prices of American
were bto ¢, and all other kinds per lb. lower.
The sales comprised 2,000 American, 50 Pernam
and Maranham at 6g to 7, 30 Bahia at 6i, 80 Egyp-
tian at 61 to 8, and 1,500 Surat at 31 to 4- per lb.
Railway Shares were steady at previous rates.
The six weeks' average price of wheat is 40s per
quarter, and the last week's sales were 116,791
quarters.
The steamer Medway has arrived; but her ac-
counts are not yet in town, and we have merely
the telegraphic outline
In the Moniteur Beige, the official organ of the
Belgian Government, it is announced that a Royal
Decree, dated the Ist December, of which it fur-
nishes a copy, authorises the payment off or con-
version into 41 per cent. Stock of the following 5
per cent. loans, viz. :-
Francs, 86,940,000, created June 26, 1840
2, 28,621,718, „ Sept. 29, 1842
f) 37,513,940, „ May 6, 1848
leaving to the holders of Bonds to bearer or nomi-
native certificates of these loans the option of con-
verting them, at par, into the new 4 per cent.
Stock, or of receiving the amount of the capital in
cash. The interest on these loans thus converted
into 4-1 per cent. Stock will be paid up to May,
1853, at 5 per cent. per annum. It is required in
the 3d article of the said decree of all holders
desiring to be paid off in money to send their
bonds or certificates to Brussels within 15 days
from the date of the decree, to be accompanied with
a demand on their part to be paid off, according to
the formalities prescribed, in default of which they
will be considered as having accepted the terms of
the conversion to 4i. per cent. Stock, and will be
treated accordingly.
In the circular of Messrs. R. Fredinnick and
Co., the following particulars are given of the min-
ing market :-
‘‘ Much animation has existed in the Mining Share
Market during the past week, and considerable business
effected in the undermentioned Mines at the prices
quoted in our list. Dividend Stock, so often referred to
by us as being desirable for investment, from yielding
purchasers, in many cases, 15 20 and even 25 per cent.
per annum upon the current value of shares, still main-
tains an upwards tendency, and, with the present stan-
dard for copper ore, and every prospect of its attaining
150 during the coming spring, the Dividend Mines of
Cornwall and Devon must yield yet larger returns of
profit, and cannot but advance in price consequent
thereon, and the engrossing attention of the public to
Mining matters as a source of legitimate enterprise. As
mentioned by us last week the West Providence and
Tremayne Mines declared dividends of profit on Friday
last, the former of 21. 10s., and the latter of 10s. per
share, which will, next bi-monthly meeting, be respec-
tively 31. and 1/. The Crow Hill Mine, in Clare, Ire-
land, is much sought after, the shares having been done
at 1001. and 1201. premium, before any calls are
made ; a rich vein of lead is discovered, which promises
to be unusually productive, and two or three Copper
lodes present great indications, near the surface, of riches
in depth. The North Cornwall Mines, situate in St.
Evall and Morgan, in Cornwall, are about to be launched
before the public in 20,000 shares of 11. each. The
reports and statements relative to the productiveness
of the lead lodes are unusually attractive ; the promoters
and directors are of first respectability, and with a
spirited development, under practical local manage-
ment, cannot well fail to be. remunerative. Wheal
Buller 800, Wheal Seton, 200, Crow Hill 100 to
120, Leeds Town Consols 3 to 31 West Providence
55 to 56, Tremayne 35 to 36, Alfred Consols
13, 131, to in, Bedford United 405 to 410,
Clive 4 to 4f, Condurrow 1021, Merllyn 3 to 31,
Kilbricken 44, 5, 51, to 51 Cam Brea 85 to 90, East
Crofty 65, St. Aubyn and drylls 71, sellers at 81., South
Frances 184, Tincroft 12, United Mines 390 to 395,
Great Work 175 to 180, Dolcoath 571, Trevissick 5,
Lisburne 700, Lelant Consols 17 to 18, Wheal Bassett
525 to 530, Wheal Golden 41 to 41, Wheal Harriett
305., Cocaes 21, Great Alfred 40, Bryntails 7 to 71,
Wheal Reeth 50 to 501, Cwm Daren 12s. 6d. to 155.,
Wheal Arthur 25 to 26, Wheal Lemon, Mill Pool,
West Ding Dong, North Bassett, Trumpet Consols,
Stray Park, Gonemena, West Sharp Tor and Bwleh
Consols done at the prices quoted in our List."
An undertaking combining many new features,
and presenting decided claims to public confidence,
has been this day ushered forth upon the Money
Market, viz., the " London Bank of Australia and
India. The proposed capital and the other details,
will be found in the advertising columns of the
Sun, and what it may be most interesting to note
is that the established banks are doing an immense
business, and that the shares command a high pre-
mium. The difficulty, after two other new pro-
jects have started, though neither as yet in opera-
tion, is to secure the co-operation of practical and
wealthy men on the Direction, and this, by the
exertions of the secretary, and the influential sol
citors, has been accomplished in a manner whic

proves the desire to establish a really useful, and at
the same time a prudently conducted bank. There
are to be no local Boards, because experience, it is
said, has shown that in former instances, there
has been too strong a disposition to accommodate
excessively connections, or acquaintances, whom it
is found invidious to refuse. No advances are to
be made on lands, or inconvertible securities of
any kind, and the circulation is not to exceed one-
half of the paid-up capital, unless under express
sanction of the proprietors. If, at any time, one-
forth of the capital is lost, the shareholders are to
be consulted as to future proceedings. There is to
be a public audit of the accounts, and inspectors
will be appointed in the Colonies. A charter is to
be applied for, and business at first will only be
carried on in Sydney, Melbourne, Ad2laide, and
Calcutta. The Directors, it is understood, " qua-
lify" by taking a large number of the shares.
A railway from Strood to Canterbury, so ur-
gently required, is at length promised, under the
title of the " East Kent." The required capital is
700,000/., and the contractors, Messrs. Fox and
Henderson, undertake to complete the line for less
than this amount, two-thirds of which have been
already appropriated. It is calculated that the nett
dividends will be from 6 to 8 per cent. on the in-
vestment.

The English Stocks have been firm this morn-
ing ; Consols realising 101/ to 1, and for January
Eng I. The New 31 per Cents, have been 1031 to
104. Bank Stock is steady at 222 to 223. Exche-
quer Bills are 655. to 68s. premium.
Very little has been done in Foreign Stocks, but
there is a firmer tone generally. Mexican are about
244 t 025, and Spanish Deferred 24# to g nominally.
The news from Madrid as to the violation of the
Constitution by order of her Majesty is calculated
to excite very uneasy feeling, and shows already the
injurious influence of Lows Napoleon's success.
Peruvian Deferred Bonds have been steady at 66,
and Grenada Deferred at 13. Brazilian new are
98. Dutch 4 per Cents. have been at 98# to
and Portuguese 4 per Cents. are firmer at 38k.
The market for Railway Shares has not been very
brisk, but prices are generally higher, the traffic
returns being good. Speculation has revived in '
Caledonian, Midland, and Lancashire and York-
shire on this account. Norfolk were also higher.
French shares have been quiet, but rather dearer.
In Upper India no transactions are reported,
holders being very firm.
The Gold Mines are not so brisk, but they com-
mand about the previous rates. The most busi-
ness is doing in Nouveau Monde, Port Phillip,
and West Mariposa.
Royal Mail Steam Shares have been firm again.
Business has been done in the Carberry West
Mine at to premium, and in the South Cork
Copper at / to / premium.

BRITISH FUNDS AT ONE O'CLOCK THIS DAY.
(From the Official

- Bank Stock Business done.
3 per Cent. 222 3
Reduced Annuities. ......
3 per Cent. Consols Annuities lO4 4
New 3i per Cent. Annuities lO3l 4
New 5 per Cent. Annuities 127
Long Annuities, Expire sth Jan., 1860 Bk 4
India Bonds, £lOOO BO
3 per Cent. Annuities, 1751
Consols for Account opening 18th Jan.—. 1011 13
Exchequer Bills lid. March. June.
£lOOO ...... ..
£5OO 65 8
65 8 —Small