The Sun.
London, England, 1853-08-09 00:00:00

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool yesterday were
estimated at 10,000 bales, of which 3,600 Ame-
rican, 100 Bahia and 300 Surat were taken for
export. The market was steady, and prices of all
kinds well supported. The sales comprised 8,000
American, 100 Bahia at 61d., 170 Pernam and
Maranham at 64d. to Bd., 300 Egyptian at 61d. to
is. 0p.., 1,500 Surat at 31d. to 40., and 30 Sea
Island at Is. 10d. to 2s. 2d. per lb. Railway
Shares were firm at an advance of Ito 1 per cent.
on all the leading stocks.
The followinc, report upon the Fruit trade is by
Messrs. Witherby and Hanson :
" Since our report of the 23d ult. there has been a
large business done in Old Fruit, and of a more healthy
character, inasmuch as the purchases have been con-
fined almost exclusively to the trade, at 90s. to 955.
for middling and good qualities, establishing a quotable
advance of fully ss. per cwt. on such descriptions. Holders
generally of old and new are firmer, and less disposed
to realise than at the beginning of the Month, confi-
dently expecting a further improvement in prices as
the season advances. The stock in London i 3 esti-
mated about the same as on 30th June."
" There is now no doubt whatever respecting the issue
of the new crop. Various reports have been circulated,
favourable and unfavourable. It has even been stated
that the extreme heat which was prevalent in the Morea
and the Islands, particularly in Zante, had entirely
destroyed the fruit. This is very doubtful, since, with
a temperature of 130 degrees in the sun, it was scarcely
practicable, not being safe, to ascertain from actual ob-
servation its effects in any locality."
Of the Port-wine Market, Messrs. Walter,
Howell, and Hale, give the particulars subjoined :

" The accounts from the Douro, regarding the effects
of the vine disease, are assuming every post a more seri-
ous and alarming character ; its progress, slow at first, is
now rapid, the destruction of the -grapes, inconsiderable
and only partial in the beginning, is now important and
general wherever the disease attacks ; already 20,000 to
30,000 pipes, according to the best authorities and cal-
culations, have been destroyed, and the disease evidently
increases and spreads itself in the same proportion as
the fruit advances to maturity. The opinions upon the
effect that the disease is likely to produce on the vine,
are discordant and much at variance ; it will be difficult
indeed, if not impossible, to establish on this subject an
absolute and incontrovertible one, in the absence of
scientific investigations and the knowledge of its nature,
origin, causes, and incidences, as well as how far it is in-
fluenced and modified by the nature of the soil, clime,
quality of the vines, &c.
"The farmers and people in general, however, having
before their eyes the unfortunate and fatal effecis that it
has produced in Madeira, are struck with terror and
consternation, —public prayers have been offered all
over the country, with the fervour of a people that
dreads its destruction. From the above you can well
imagine the feverish and excited state of the market. Not
only have wines considerably advanced in price, but
very few are offered for sale, yet, at the present exor-
bitant rates, most of the holders have withdrawn their
wines from the market, expecting soon to obtain much
higher prices than the already very high current rates
demanded.
"The stock on the Ist August, 1853, consisted of
21,023 pipes, 5,025 hhds., 3,950 quarters."
The committee for promoting the formation of
Tribunals of Commerce are circulating a statement
of their claims upon the pecuniary support of the
mercantile community, and these are certainly very
strong. In this document it is mentioned that—
" While London is the source and centre of the com-
merce of the world, .t is remarkable that no bond of
union or incorporation exists among its merchants ; and
that in this respect they are anticipated by insignificant
continental and many secondary provincial English
towns. They have to invoke the political aid and social
influence of the Chambers' of Commerce of Manchester,
Liverpool and Leeds, Glasgow, Edinburgh, and New-
castle, if necessity compels them to appeal to Govern-
ment or to Parliamant ; and they have to take their
mercantile law and custom not from the decisions and
practice of their own body, but from the doubtful
dicta of professional lawyers, acquired by the experience
of great uncertainty, proverbial delay, and costs so ',Teat
as to render the expense of obtaining justice greater than
the advantage of the justice to be obtained.
"This committee has been engaged for upwards of
two years in labouring to discharge some of the functions
which a Chamber of Commerce should have undertaken;
and after having placed itself in co-operation with the
provincial mercantile bodies, in communication with the
periodical press, and in correspondence with the zealous
law reformers of both Houses of Parliament, and in the
profession itself, they have succeeded in so preparing
public opinion on the subject, that there is a general de-
sire for, and concurrence of conviction as to the import-
ance of, early legislation founded upon careful inquiry,
in the view of giving practical effect to the principle on
which tribunals of commerce are instituted."
As usual, after a material improvement, the
funds have became quieter, and some re-action has
occurred in prices. Late yesterday afternoon
consols were 931 for transfer, and 98/ for Sep-
tember ; but this morning they are 97 to 98 for
money, and 971; to 981 for September. The ex-
planations in Parliament last evening are con-
sidered satisfactory, though they bear out the
view in the leading article of last evening's
Sun, that there is yet much to be done
before the question can be satisfactorily set-
tled, and it is sincerely hoped in the City that
there will not be a patching up of the dispute that
will leave room for future embroilment and aggres-
sion. The opportunity, it is considered, was never
better for curbing the pretensions of Russia, as at
another crisis, England and France might not be
found united with Austria and Prussia. The New
31. per Cents. have been at 101 to 1011, and the 3
per Cents. 98,4 1. Bank Stock has been firm at
228. India Stock has realised 2574. Exchequer
Bills are at 2s. discount to ls. premium, and India
Bonds are 21s. premium.
The Foreign Market has been very quiet, and
scarcely up to yesterday's range. Peruvian Bonds
have been done at 83, and Chilian at 104 i.
Mexionn have improved to 26g. Russian Five per
Cents. have been at 1171, and the Four-and-a-Half
per Cents. at 100. Spanish Deferred Bonds are
worth 23k. Dutch Four per Cents. are 984- to /.
Railway Shares are active, and at advanced.
prices. The lines most in favour are Great South-
ern and Western, which have been fluctuating,
Brighton, North-Western, and South-Western.
French Shares are scarcely so good, excepting
Grand Junction, and Sambre and Meuse.
Gold Mines are neglected, but without material
variation in prices.
Australian Bank Shares are in moderate request
at advanced prices.
Australian Agricultural are firmer, and most of
the other land companies, with the exception of
South Australian, which are 15s. lower.

BRITISH FUNDS THIS DAY.
( From the Official List.)
BUAiIIeSS done.
Bank Stock .............. ..... 228
3 per Cent. Reduced Annuities 9Bs /
3 per Cent. Consols Annuities 97f S n
New 31 per Cent. Annuities lOl-- 1 1
Long Annuities, Expire sth Jan., 1860
India Stock
India Bonds, £lOOO ....... ..... .......
Ditto, under £lOOO 2l
Consols for Account 11th August 973 8 7i
Exchequer Bills, ld.
£lOOO
£5OO
Small

2d 1p
2d 1p
2d 1p

PRICE OF FOREIGN FUNDS THIS DAY,

Chilian Bonds, 6 per Cent.
Danish Bonds, 3 per Cent 4i
Equador Bonds
Mexican 3 per Cent.
Peruvian Bonds, 43 per Cent.
Portuguese Bonds, 4 per Cent.
Ditto Ex all oTer-due Coupons 4O
Russian Bonds, 5 per Cent.
Ditto 43 per Cent.
Ditto Small
Sardinian Bonds, 5 per Cent 054
Spanish New Deferred, 3 per Cent. 23
Spanish Committee Cert. of Coup. not fun. 61 i p c
Dividends on the above payable in London.
Dutch Exchange, 2A per Cent. .......
Ditto 4 per Cent. Certificates .. . . 98i i
TEIREE O'CLOCK.

Consols 97i
Ditto Aug,tst Account 97i