The Sun.
London, England, 1853-01-24 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, Two o'CLocx.

The sales of cotton at Liverpool on Saturday
were estimated at 7,000 bales, of which 1,500 Arne,
rican were taken for export and on speculation.
The market closed firmly. The sales comprised
6,000 American, 300 Pernam and Maranham, at
6gd. to 71d.; 300 Egyptian, at 6/d. to Is.; and
500 Surat, at 3/d. to 4/d. per lb. Railway shares
slightly improved. _ _

The following, upon the tea trade, is furnished
by Messrs. Mitchell and Beanie :

" Stock, 31st December, 1852, 50,400,000 lbs., against
47,500,000 lbs. in 1851. With regard to the prospects
for the present year, we think they appear promising to
both the importer and dealer. The last accounts from
China bring us intelligence of a falling off in the 'export
of fully 4,000,000 lbs.; this deficiency will most probably
be much increased before the season finishes ; and al-
though our advanced rates may stimulate shipments, yet
we must fall short in the supply of the good and useful
kinds. It is also conjectured, and we think with good
cause, that the new Government will propose the same,
or an increased, reduction of the duty, as all the leading
members of the present Administration spoke in favour
of an alteration. Looking, therefore, to our future pros-
pects, we think that the present rates will be maintained,
and that there is great probability of a future advance."
The steamer from the United States and Canada
has not yet arrived.
The continental advices are of but little interest.
The money markets generally sympathised with
our own awl were heavy. Even at Paris, the tone
is by no means healthy yet, although it must be
admitted that the speech of the Emperor to the
Senate, upon the subject of his marriage, is re-
garded in rather a favourable light.
A report has been very generally current this
morning that a coup d'etat has been effected at
Madrid, and this has caused a great sensation
among the holders of Spanish bonds.
From St. Petersburgh under date of the 11th
inst., it is stated that the weather continued very
mild.

The meeting of Mexican Bondholders is to be
held next Wednesday, and will be not alone inte-
resting but important. In anticipation, a very able
statement has been issued by the committee.
Messrs. Baring, according to this document, have
enough in hand to close the old account of arrears
and leave a surplus of 16,8481., and there is a
small sum in the Bank of England. Mr. Falconnet
has compromised the various claims left open by
Mr. W. P. Robertson, and some other demands,
and the result is that, after distributing 'Ti. 3s. per
1001. stock, settling all claims, and providing for
expenses to September net, there will be for the
certificate holders an eventual balance at Messrs.
Barings of 3,7411. 13s. sd. ; a balance at the Bank
of England, 8,7541. 4s. ; 70,000 dollars expected
by the next packet, from Mr. Escandansay,
14,0001. ; together, 26,4951. 17s. 5d., or about
5-h- per 1001., while the claims still prosecuting on
the Mexican Government, and on Messrs.
Manning and Mackintosh amount to about 900,000
dols., or 355. per 1001. in addition, but may be
considered very doubtful.
The committee consider the revenue of Mexico
even now would pay two per cent. on the entire
debt ; and if the Minister of Finance could get his
loan of 1,300,000 dols. upon clergy lands, &c.,
would cover the deficiency of the pait two years.
The report then states
" Your committee regret to state that, in spite of con-
tinual and urgent applications for accounts, none have
been received as yet which would enable them to say
what the produce of the revenues of the Bondholders
has actually amounted to either in 1851 or in 1852,
or how much of the produce of last year is now avail-
able for the payment of the two overdue dividends.
Mr. Falconnet, from the moment of his arrival in Mexico
has, in conformity with his instructions, directed his
particular attention to the obtainment of accounts, and
has more than once had orders to the authorities con-
cerned to furnish him regularly with monthly accounts
of the produce of the revenues of the bondholders, but
as yet without the desired result. On the 27th August
last, the Ministry of Finance again issued a circular
order to all the Administrators of Customs to furnish the
minister at the beginning of every month, with accounts
made up according to a form prescribed in the circular,
and at the same time to forward to Mr. Falconnet a copy
of them ; however, those which Mr. Falconnet, up to
the date of his last letter, had received in consequence,
• were either incorrect or unintelligible."

The position of the Deferred Bondolders is thus
alluded to :

" Your committee, after consulting the principal
holders of Deferred Bonds, protested against the cancel-
ling of the E. Bonds at the Bank of England, expressed
their regret that if the information now required was
considered necessary, steps had not been taken long ago
to obtain it, and stated that the Bondholders would have
no objection to furnish it. The Agency in reply, said
that as the cancelling of the E. Bonds had been objected
to, it would be necessary to report to Government again
before proceeding to a registry of the Deferred Bonds.
It will thus be seen, that as regards the Deferred Bonds,
which are still unconverted, as regards accounts, and as
regards the custody of the funds here, the Bondholders
are in a fair way of obtaining the redress which they
have long struggled for, but that the prospect of obtain-
ing a free grant of public lands is a good deal more re-
mote and doubtful."

The obtainment of a grant of public lands is
still to be pressed, according to the following para-
graph in the report :
" Mr. Falconnet, in addressing the Chambers on the
subject of the arrears, also said sufficient to place
this application for a grant of lands in the proper point
of view, but the present circumstances of the Republic
are certainly unfavourable to the immediate success of
your Committee's views. As, however, on a grant of
lands a colonisation scheme might be engrafted,
operating in the nature of a sinking fund on the bonds,
the idea is deserving of the continued attention of the
Bondholders."

On Wednesday several of the Committee will
resign, and as other members are dead, or reside
at a great distance, or have ceased to attend, a re-
organisation becomes imperative.
The members have worked together long and
zealously, and their labours deserve the fullest
acknowledgment. In the following concluding
paragraph of the report we cordially acquiesce :
"As some evidence that your committee have been
actuated by an earnest desire to deserve such confidence,
they may perhaps be permitted at the close of their
labours, shortly to mention, that, when the interests of
their constituents have required it, they have never
shrunk from incurring personal responsibility, either by
entering into a bond of indemnity to the Bank of Eng-
land, in order to release about 250,0001. deposited there,
or in advancing 6,0001. for the purpose of expediting
Mr. Falconnet's mission to Mexico, or in adopting mea-
sures in anticipation of the sanction of the bondholders,—
that they have held seven general meetings, and issued
as many reports,—that they have had above 200 com-
mittee meetings, besides numerous meetings of sub-com-
mittees, and that during their administration of the
affairs of the bondholders, five millions and a half of
dollars have been recovered. This amount, large as it
is, is certainly not all that ought to have been received, as
two half-yearly dividends are now over due ; but, consi-
dered with reference to the deplorable state of the Mexi-
can finances for the last three years, they venture to
think that such a result may be regarded as some proof
that their labours have not been altogether in vain."

The English Stock Market was looking firmer at
the commencement of business, Consols having
been quoted 99i to for transfer, but they have
since receded to 99i to For account the quota-
tions have been 998 The finer weather and the
more satisfactory impression produced by Louis
Napoleon's speech,. have had some effect, but much
will depend on the state of the Money Market.
The value of Bank Stock has been as high as
226 to 227 i. The New Three-and-a-Quarter per
Cents. have been marked 1031 to R.,. and the Three
per Cents. 100 to f. Exchequer Bills have been
quiet at 58s. to 605., and East India Bonds at 675.
to 71s. premium.
Foreign investments have been generally dull,
but some excitement has arisen in Spanish Bonds
owing to the reported coup d etat at Madrid. The
Three per Cent. Bonds have been depressed to 461'
and the Deferred to 22-i and 22. The Certificate
is at 4, and the Passive at si. Brazilian
Old Bonds have been done at 1021, and the New
44 per Cents. at 98k. Mexican are steadier at 23k.
Sardinian Stock is at 93g. French 3 per Cents.
have been at 79, with the exchange at 25 20.
Dutch 2 per Cents. are weak at 65i to
Gold Mine Shares have been very dull and
without alteration in price.
The Land Companies have been also quiet, and
the Australian Agricultural lower.
The Union Bank of Australia Shares have risen
4/. to Si.

The London Chartered of Australia and India
has had its settling day appointed by the com-
mittee of the Stock Exchange for Friday next.
The dividend declared this day at the meeting
of the Union Bank of Australia is equal to 26 per
cent. per annum, being 3/. ss. per share for the 6
months.

The railway meetings announced are the follow-
ing :—London and South-Western, 16th Feb.,
London Tavern ; London, Brighton, and South
Coast, 28th Jan., Midge-house Hotel. Maria An-
tonia, 14th Feb., Florence ; Newry and. Enniskil-
len, 7th Feb., Guildhall-chambers ; Northern
Counties Union, Bth Feb., London Tavern • North
Staffordshire, 29th Jan., Stoke-upon-Trent% Paris
and Rouen, 29th Jan., Paris ; Shrewsbury and
Birmingham, 31st Jan., Shrewsbury ; Shrewsbury
and Chester, 31st Jan., Shrewsbury.
Railway Shares have been inactive, and have not
varied much in price. Great Northern are better,