The Sun.
London, England, 1852-11-24 00:00:00

,11 USEY AND COMMERCIAL NEWS,

CITY, Two O'CLOCK.

The sales of Cotton at Liverpool yesterday were
estimated at 3,000 bales all to the trade. The
market closed heavily, with but little alteration in
prices. The sales comprised about 2,5000 Ameri-
can 20 Bahia at Gad., 100 Egyptians at 52d. to
81.i.' and 100 Surat at 4d. to 4d. per lb. Rail-
way Shares were quiet, but firm.
The heads of departments have received instruc-
tions to the effect, that in consequence of the im-
proved condition of the colonial finances, the full
salaries which were fixed by the Appropriation Bill
of last session may now be drawn for, and also that
the difference between those rates and the reduced
amounts which were paid during the first six
months of this year, may likewise be received.
Yesterday afternoon bills of exchange were ne-
gociated at very full rates on most of the Con-
tinental cities. Paris, 25 40 to 421-; • Amsterdam,
11 18-k to 19 ; and Hambro', 13 7to ; Trieste,
11 44-to 48.

During the fortnight to last evening, the Hon.
East India Company drew bills on the 3 presiden-
cies to the amount of 116,1481.
The Committee of Mexican Bondholders have
received the following letter, via the United States
from Mr. Falconnet

Mexico, Oct. 16, 1852.
" Sir—l have had the pleasure of addressing you on
the 13th inst.,* and without any of yours to answer.
This is merely to enclose the speech of the President
of the Republic on the opening of Congress, in the
hope that my friends in Vera Cruz will be able to
forward this letter through the United States without
delay.
"No direct allusion to, or special mention of, the
foreign debt has been made in the speech, a circumstance
which has disappointed me, for although I am aware that
a separate report is to be addressed to the legislature on
that subject, yet I expected that their attention would
have been called at once to the importance of providing
for the satisfaction of our claims. You will find from
that document how many difficulties surround the Go-
vernment ; and from the answer given by the President
of the Chamber of Deputies—a very vague one indeed—
it is difficult to foresee bow far the Legislature will feel
disposed to help the Executive.
" The shipments from Vera Cruz and Tampico by the
last steamer have not been so large as I expected—a por-
tion ofthe bills in the hands of the agents not having fallen
due, it appears, until a few days after the departure of the,
packet. However, the bills of lading sent to Messrs.
Barinc, Brothers and Co., for money out of the produce
of the Custom-house revenue, leave a surplus of about—
s 3,265 in favour of the July dividend.
32,000 are in course of collection at Vera Cruz.
130,000 in bills, according to advice just received, will
soon be delivered to the agents at that port.
We have about
36,000 cash on Matzatlan, ready to be shipped.
18,000 in cash and bills, at San Blas.
2,800 do. do. in Acapulco.
22,500 are settled out of the $102,000 of Matamoros,
&c., so that we can say to have secured
about
$244,565 for the July dividend. . _

" If the Legislatire makes any favourable decision, I
think there will then be little difficulty in raising the
necessary amount to complete the payment of that divi-
dend.—l have the honour to be, sir, your most obedient
servant,

" FDE. 0. FALCONNET.
"To Sir Isaac Lyon Goldsmid, Bart.,
" Chairman of the Committee of Mexican Bondholders,
27, Gresham-street'."

• This has not yet been received.

The King of Holland designed, and in part com-
pleted a railroad from Amsterdam to the borders
of Prussia. In order to raise the funds for this
purpose he issued 9,000 bonds of one thousand
florins each, or about 831. Os. Bd., bearing interest
at 42 per cent., guaranteed first by the raiiway,
and secondly by the king himself.
In 1845 the King of Holland sold this (now
called the Dutch Rhenish) railway to an English
Company, who subscribed for a capital of
2,000,000/.—first, for the purpose of completing
the railway to Prussia secondly, to make
a branch to Rotterdam, and thirdly to pay off the
9,000 Bonds, above mentiened. Of this capital,
800,0001. have been paid up, but in consequence of
certain unforeseen impediments with Prussia, as to
the junction with their lines, a considerable delay
has occurred in the completing of the road, and
about 400,0001. subscribed, but not immediately
wanted, were invested in the purchase of 3,700 of
these Bonds, as also 100,000/. in the purchase of land
for the Rotterdam Branch. All difficulties are
now at an end. Treaties with Prussia, and con-
tracts with Mr. Brassey, have been signed. The
Railway is to be completed in two years, and the
Government have agreed to guarantee the interest
on 400,0001. while the works are in progress.
200,0001 is wanted for immediate purposes. A call
could be made, but the Shareholders, considering
that they paid the 800,0001. for making the
line, and not for purchasing Bonds, wished
the Bonds in possession of the Company
sold or pledged to raise the money now
required. To this the direction assented,
and it not being advisable to part with the Bonds,
the Directors have placed in the Bank of the
Netherlands, in the names of certain English and
Dutch Trustees, 2,400 bonds of 1,000 florMs, or
831. Cs. Bcl. each, and are now about to issue against
them 2,400 Certificates or Loan Notes, (also of
1,000 florins each), to be repaid by calls, July Ist
1858, and bearing interest at 44- per Cent. The
Certificates are secured, first by the Bonds de-
posited, (which are themselves guaranteed, first by
the line and secondly by the King), and secondly
by the Company, who engage to make a particular
call to redeem these Certificates, and in payment
of which call these Certificates will themselves be
received.

The debate upon free trade policy has not pro-
gressed sufficiently to allow of a very correct esti-
mate of the result, and the amendmeut of Lord
Palmerston would, it is thought, probably give a
new feature to the matter, and prove favourable
to Ministers. The uncertainty, however, affects
prices, and Consols ' have been rather heavy
at 101 k to though now 1011 for Trans-
fer, and 1011 to k for Account. Exchequer
Bills of March are 725. premium. Bank
Stock is supported at 223, and East India Stock
has risen to 277. The New 31 per Cents. have
been quoted 103 and the 3 per Cents. 100-al.
A bargain has been effected in South• Sea Old An-
nuities at par.

The Coinmittee of the Stock Exchange have
taken a most important and highly-creditable step
to prevent bankrupt or dishonest States forcing
more' securities upon the English market. The
Central Peninsular Railway Shares will not be
quoted in the official list, as will be observed by
the following reply to an application of the com-
pany :
(Copy.)
"November 22, 1852.

" Sir,—l am instructed by the Committee to inform
you, that they have taken your letter of the 30th Octo-
ber into consideration, and after communicating with
the Chairman of the Committee of Portuguese Bond-
holders, are unanimously of opinion that the security
upon which the proposed guarantee of 6 per cent. is
based, has already been mortgaged to the Portuguese
Bondholders, and that consequently, until the Committee
receives from them a communication that this security
is given with their consent, they cannot recognize the
dealings in the railways of Portugal with this guarantee.
I have the honour to be,
Sir,
Your obedient Servant,
GEO. WEBB, Secretary.
Robert W. Kennard, Esq., on behalf of the Provisional
Directors of the Central Peninsular Railways of
Portugal."

No other reply could in fairness be given, for the
Portuguese Government which confiscates the divi-
dends on its debt, actually guarantees 6 per cent.
to this railway out of the taxes assigned to the
bondholders.
Spanish Stock is firm, the Deferred being 25 I;
Peruvian Deferred Bonds are 62k, and Grenada
Deferred, 11k. There have been large dealings in
Brazilian New, at 961 to 97k; Turkish Scrip is 2
to 2 premium, a decline. In Dutch and Belgian
Stocks, there has been some activity; Mexican, 25
to
The railway share market opened very buoyantly,
although it has gone back a little in some instances
since. The English lines have been higher gene-
rally,—North-Western, East Anglian, Aberdeen,
Oxford and Wolverhampton, and York and Ber-
wick, taking the lead.
French shares are higher, and Sambre and
Meuse are up 1/.
Gold mines are in brisk demand, at fuller rates.
Australasia Bank shares have risen, and Penin-
sular and Oriental are dearer.

BRITISH FUNDS AT ONE O'CLOCK THIS DAY,
(From the Official List.) _

Business done.
Bank Stock 223
3 per Cent. Reduced Annuities... ...
3 per Cent. Consols Annuitie5...........
New 3i per Cent. Annuities lO3l ii i
India Stock
South Sea Old Annuities lOO
Consols for Acc0unt...............•
Exchequer Bills ltd. March. June.
£lOOO
£SOO
Small 72 69 72
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds; 5 per Cent.
Ditto 48 per Cent 97k 6i 78 6t
Equador Bonds
Grenada Bonds, Il per Cent
Ditto Deferred..

11}
HALF-PAST TWO.
Consols lOll
Ditto Account, Dec. 9