The Sun.
London, England, 1853-12-30 00:00:00

MONEY MARKET

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 7,000 bales, of which 500 American
Were taken for export, and 500 American and
1,000 Surat on speculation. The market closed
firmly, at full prices. The sales comprised 5,000
American, 50 Bahia, at 6±d. to 71d. ; 500 Egyp-
tian, at 6d. to 9d. ; 1,500 Surat, at 24d. to 41d. ;
and 50 Sea Island, at ls. 3d. to 2s. 3d. per lb.
ares Railway were Sh dull atlower prices.

The Colonial and Foreign Produce Markets hav-
ing been closed this week, business has been re-
stricted to purchase by private contract. The prices
of the leading staples are well maintained, and
stocks are not heavy. The deliveries also continue
good. In coffee there has been a tendency to ad-
vance, but tea has become duller. Tallow is also
dearer. We are now much in the same position
as at the close of 1852. Trade is sound and finan-
cial prospects are good, so that under ordinary
circumstances full support might be expected to
be given to the various markets, but there is the
enormous drawback of politics which may overcome
other favourable contingencies.

Several cargoes of oranges have arrived since
Christmas. The Challenge, from Fayal, brought
2,000 packages, a portion of which, together with
two cargoes St. Michael, sold by Keeling and Hunt,
at public sale, went at a reduction of 2s. to 3s. per
package. Lemons sustain their value. Messina
nuts have advanced 2s. per bag. Chesnuts ss. per
barrel lower. The adverse wind has prevented
several fruit cargoes from reaching this port, and a
'very indifferent supply for the Christmas consump-
tion was the result.

This may be regarded as the last business day
of 'the year 1853, and looking back at the events
*which have arisen, one may discern abundant rea-
son for congratulation that commerce has proceeded
so regularly, and that our traders have stood their
ground against all disadvantages. It will be re-
Membered that on the Ist of January the minimum
rate of discount at the Bank of England was
but 2 per Cent., that on the Bth of that month
it was raised to 22, and on the 22nd to 3 per cent.,
at which it remained until the 4th of June, when
it was raised to 3i. The amount of bullion in the
Bank of England had, in the interim, sunk from
over 20 to about 18 millions sterling, and Consols
from 1011 / had been down to 991 in January, and
up again to 100/ in May. On the 3rd Septem-
ber the discount was raised to 4 per cent., and
Consols, which were about 98, gradually fell to
95i on the 17th of that month, when the Bank
minimum charge was made 41 per cent. The
Ist of October brought up the charge to 5 per cent.,
at which it has since remained, and in the same
month Consols were done as low as 91. Although
upon several occasions during the year, extreme
apprehension has prevailed with respect to the
Eastern question, it was not until September that
it became so decided as to lead to anything
resembling a panic, and then the public
mind soo again became tranquillised. The
ascertained deficiency in the crops, exercised, about
this period, a great influence, as the bullion in the
Bank was weekly declining, having been at its'
lowest point within the last two months, and with
the aggravation of strikes, and a rise in the prices
of all the great staples, including . grain,
meat, tallow, coals, and several articles of
Colonial produce, it was a matter of as-
tonishment with many that the export trade
of the United Kingdom continued astonishingly
brisk, due in part, no doubt, to the Australian de-
mand, but likewise to our general foreign business,
the United States proving large customers. The
significant points which we have now before us to
guide us in an opinion of the future, are that the
bullion in the Bank, although larger in amount
than it was a short time back, is still greatly
below the sum at which it stood ,in the
beginning of the year, that discounts have
been advanced 3 per cent., that wheat has this day
risen 2s. to 35., that large imports are still required,
that coffee, tallow, tea, and other article's are at
about the highest point attained this year, and that
the war with Turkey is yet in progress. There is
abundant room for caution therefore, though we
trust also plenty for hope, and our merchants and
capitalists stand well prepared whatever may
happen.
The English funds are firmer, upon an official
announcement in the Afonit:eur that the Ottoman
Porte has accepted the terms of arrangement pro-
posed by the allied powers. This was known, per
telegraph, soon after the market opened, and Con-
sols, which were 93/ rose to 93i,1 to 941 g. They
have since been 93/ to 94, with very little doing.
The speculators do not appear very sanguine as to
what the Emperor Nicholas may do, and the public
rather keep up the supply of New 3/ per Cents.,
which are 951 to 1. Bank Stock is heavy at 2171.
Exchequer Bills are ss. to Bs. premium.
Foreign securities have been dull. Mexican are
flat at 24 to 4, and Spanish Deferred 3 per Cents.
at 22. Dutch 4 per Cents. have been 97, and since
962. Russian 41 per Cents. 'are 97/.
The English Railway Shares are about 12 per
cent. better as respects the principal lines, the
chief business being in Midland, North Western,
Great Western, and Aberdeen. French shares are
also better.

The Gold Mine Shares are dull, the Banks firm,
and the Land Companies' neglected.

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

Business done

Bank Stock ..
3 per Cent. Reduced Annuities . ... 943 4
3 per Cent, Consols Annuities shut
New 31 per Cent. Annuities 9si A i a
Consols for Opening 18th Jan. 93.1 4
Exchequer Bills, ld.
£l000
£5OO 5 8 p
Small 5 8 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Mexican 3 per Cent.
Ditto for the Account 24i 4 /
Russian Bonds, 1822, 5 per Cent. £ St
Ditto 4A per Cent 97i
Spanish New Deferred, 3 per Cent 22
Dividends on the above payable in London.
Dutch Exchange, 24 per Cent. 12 Guil C4I
Ditto 4 per Cent. Certificates ...... _
HALF-PAST TWO.
Consols for Opening 18th January......... 93i 4 x d

LAW INTELLIGENCE-(THIS DAY).

SECONDARIES' COURT.
(Before Mr. Secondary Potter.)

JOHNSON V. COOPER.

A QUESTION AS TO COUNTY COURTS.
This was an action to recover the sum of 121. 17s. on
a Ibill of exchange.

Mr. J. R. Chidley, Gresham-street, appeared for the
Plt-tintiff, and proved the acceptance, &c., and the only
objection taken was, that the action ought to have been
brought in the County Court.

Mr. Chidley, in reply, contended that there was a
concurrent jurisdiction, and that the plaintiff could
ru aintain his action in the superior court.
The learned Secondary held to that effect, and refused
to, grant any certificate to deprive plaintiff of costs, which
Would only cause delay, and in this case it would appear
to defeat justice.

Mr. Chidley said he was perfectly open to discuss the
qt testion before one of the learned judges at Chambers,
bt it it appeared to him that the defendant must show
Ye ry strong grounds before the plaintiff would be de-
prived of costs when circumstances had driven him to
e Superior Court—indeed, in many instances, litigancy
it ► the county courts led to very great expenses.
A verdict was given for the plaintiff, the certificate to
3prive the plaintiff of costs being refused.