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

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.
_ .

The sales of cotton at Liverpool yesterday were
estimated at 6,500 bales, of which 1,000 were taken
for export. The market closed heavily. The sales
comprised 200 Pernam and Maranham, at 71d. to
; 100 Bahia, at 61d. to bid. ; 200 Egyptian,
at 6d. to ls. ld. ; 700 Surat, at 3/d. to 4id. ; 100
Sea Island, at 2s. id. to 2s. lid., and the remainder
American. Railway Shares continue very depressed.
Of the dried fruit trade in London, as well as of
its general prospects in the country, the following
particulars are supplied by Messrs. Witherby and
Hanson :

" There is a slight alteration in the range of our quo-
tations of currants, owing to an improvement since our
report of the 24th ult. of ss. to 6s. per cwt. on the or-
dinary and middling qualities, which had for some time
past been neglected and dull of sale. We have thus had
in each of our bi-monthly reports since Bth July, a po-
sitive advance to notice, each differing in character and
degree : first, ss. per cwt. on new fruit, which has, how-
ever, since been barely supported, then ss. to 6s. on
fine fruit owing to purchases by the trade ; next, 6s.
to Bs. on the same description, the trade having resold
to speculators at that advance, and now ss. to 6s. per
cwt. on ordinary and middling sorts, which have been
taken also from the trade, principally by out-port
purchasers, leaving the former in possession of compa-
ratively very little stock to meet any sudden or ordinary
demand. Of fine fruit the quantity offering is so small,
that it is difficult to execute colonial orders. New fruit
is held with equal tenacity, owingto the forthcoming crop
being found to be much smaller than was expected even a
month ago, and prices likely to open exorbitantly high.
We expect in our next to report a more positive feature
than at present exists in the raisin market. The accounts
from Turkey leaving little hope of more than
one third of a crop, Elemes have been bought at 505.,
and Chesmes in barrels for (it is said) outport
account at 48s. Other descriptions have not been
affected. The stock of old Valentias here on the Ist
inst. was about 400 tons, only two-thirds of which, or
less, are of sound quality. That of Sultanas was about
170 tons, a small stock in face of the short supply of
New to come forward. That of Chesmes, in barrels, is
still extremely large. Black Smyrnas continue to be
the favourite articles ; this description, Elemes, and
Sultanas, cannot fail to attract notice as the season ad-
vances. Some large contracts have been made this
week in Blacks afloat, and our highest quotation has
been paid paid on the spot for fine fruit. The
arrivals of Denia will be small for the present,
prices having further advanced in Spain ; shipments
have been much retarded, and many charters thrown
up."

The Commissioners of Land and Emigration
have announced their desire to receive tenders
for vessels to Portland Bay on the 19th, and to
Melbourne on the 24th of next month.

Among the incidents worthy of notice is the re-
port of new foreign loans. How any parties can
be found to give encouragement to these in the
present state of our money market would be a
question difficult to solve, if it were not that under
any circumstances they contrive to make it pay,
the subscribers, of course, suffering in the long
run. Austria, it is asserted, has need of money,
and will soon make the attempt to get it in the
usual way. B elgium is supposed to be in the field, and
Spain, as every one knows has been trying for some
time past. Added to this, many of the United
States railways are introducing their debentures
upon our markets, and these compete strongly
with similar securities issued by the English com-
panies. All who desire to assist in preventing
greater difficulties should strictly abstain from
countenancing these projects.
A s.zange rumour has been circulated during the
last two or three days, in Stock Exchange circles,
namely, that the piessure of Consols upon the mar-
ket arises from sales made for the Chancellor of
the Exchequer. The object of these sales is stated
to be the purchase of Exchequer Bills, in order to
maintain their premium, and the stocks sold be-
long, it is asserted, to the Savings Banks. If we
could place any reliance in these bold but
incredible assertions, we should say that the
operation was not only most injudicious, but
likewise unjustifiable. There is a large amount
to be provided by Government next month for
payment of dissentients, unless new stock is issued,
but what is now alleged to be done cannot furnish
the means, and while it exercises an injurious in-
fluence upon unfunded property, it raises arti-
ficially the market value of the floating debt,
and makes it rule out of all proportion to
the absolute condition of the money market.
This is not a proper financial proceeding for
an English Minister, and we doubt whether it
would answer the purpose said to be intended even
for a brief period. No one could suppose that
Mr. Gladstone was answerable for the appreciation
of money, for no one imagined that we should
have such a deficient harvest, and that gold would
be swept from us faster than it arrived ; but such
being the case, without any imputation upon
his judgment, and without being in any way
held answerable for what some may esteem a
failure in his calculations, the Chancellor of the
Exchequer should raise the interest upon the bills.
We have always advocated the payment of as small
a sum as possible as interest upon the floating debt,
because the public purse is to be considered as well
as the advantage of private capitalists and bankers,
but what former ministers neglected to do when there
was a good opportunity, cannot be forced in an al-
tered state of the market. The judiciousplan would
be to await the tide of events, and if necessary to
raise the rate of interest.
The bills drawn by the Honourable East India
Company during the last fortnight have been to the
following amount :

Bengal ... ..................... X 78,811 12 2
Madras ......................... 15,626 16 10
Bombay ..................... 1,702 18 8

£96,141 7 8
The settlement of the account is in progress in
the English stock market, and prices are most un-
favourably influenced thereby. The speculators
have been selling largely for next time, and by this
the better to buy back now
rise. The still unsettled condi-
tionquestion, and the large food re-
quirements, embolden the operators for a fall, and
even the returns of the trade of the United Kingdom,
wm ietahnoos without
arelie causingeenabled
b la
Easterned
showing such a large increase in exports, justify the
andimpression profitablethat t
money will continue to find ready
employment in commercial circles.
Consols have been quoted 96g to 73- for transfer,
and 961 to 97 for October ; but they are now
t
lower. The New 31- per Cents. have been 991 to
par, and the Reduced 3 per Cents. 97/ to
In Foreign Securities there is less doing.
Spanish New Deferred Bonds have been 22/, and
Mexican have receded. from 26i to 254. The
Swedish Loan has been at 94g. Russian 41. per
Cents. are quoted at 1014, and Dutch 4 per Cents.
98i to I-.
Railway Shares have been decidedly worse again,
owing to the decline in Consols. London and
North-Western have fallen 11. to 11.10 s.; Midland
to the same extent ; and Oxford and Wolverhamp-
ton, South-Eastern, York and Berwick, and the
other lines, proportionally. French shares have
given way about ss. to 7s. 6d. on the 161. and 201.
paid

- The Gold Mine Shares have been exceedingly
heavy, and the Australian Banks are lower again,
Union being down about 11.

The last week's railway receipts, ascertained up
to this day, are in round figures as under :

1853. 1852.
Great Western £23,652 £19,160
North Western
South Western 14,686 14,248
Brighton 15,258 14,046
Midland 27,357 25,603
South Eastern 21,137 20,315
Caledonian and Edin. and Glasgow 16,150 13,924
Great Northern
Lancashire and Yorkshire 21,446 19,928
York and North Midland, Newcastle
and Berwick, and Leeds Northern 30,506 27,405
The shares of the Land Companies have been
lower, with but few purchasers.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
( From the Official List.)
Business done.
Bank Stock
...
3 per Cent. Reduced Annuities.... .......
3 per Cent. Consols Annuities .
3 per Cent. Annuities, 1726
New 3i per Cent. Annuities lOO 99i
Long Annuities, Expire sth Jan., 1860 5i 15-16
Dittc 30 Yeau, Expire 10th Oct., 1859
Ditto 30 Years, Expire sth Jan., 1860
India Stock
India Bonds, £lOOO
Ditto, under £lOOO l2
Consols for Account 13th October
Exchequer Bills, ld.
£l000
11500 2 d par
Small 2 d par

PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Mexican 3 per Cent.
Russian Bonds, 5 per Cent.
Ditto 4A per Cent.
Spanish New Deferral, 3 per Cent. 2221
Swedish 4 per Cent 94a

Dividends on the above payable in London.
Dutch Exchange, 21 per Cent.
Ditto 4 per Cent. Certificates..,,,,.. -
HALP-PAST TWO.

Consols 96A
Ditto October Account . 96i i

AMERICA.

(B Y ELECTRIC; TELEGRAPH)

SOUTHAMPTON, THURSDAY MORNING.
The United States mail steam-ship Humboldt
has arrived off Cowes, with the usual semi-weekly
American mail, and dates from New York to the
27th ult.

The New York papers publish the reply of Lord
John Russell on behalf of the British Government
respecting the proposition for a tripartite treaty
with regard to Cuba. Lord John Russell, whilst
admitting the right of the United States to receive
the proposal, observes that Great Britain must at
once resume her entire liberty, and upon any oc-
casion that may call for it be free to act either
singly or in conjunction with other Powers, as to
her may seem fit.
The yellow fever in New Orleans has increased,
and one of the latest reports mentions 315 inter-
ments in one day.
Advices from Jamaica, to the 12th ultimo, state
that the political and commercial situation was un-
changed.
The steam-ship Cherokee, one of the New York
and California steamers, was destroyed by fire at
New York on the 26th ult.

The Money Market at New York was unchanged,
although the extreme pressure for money was
supposed to be over ; the banks were not disposed
to take any except the shortest and best mercantile
paper, and discount in most cases less than half of
what is offered to them. The rates for money
varied from 9 to 12 per cent.
The Stock Market, after receiving a temporary
check, had become firmer ; exchange firmer, at
109± to 109 i on London, and sf. 13/c. to sf. I*.
on Paris ; the regular bankers were larger buyers
of exchange than usual.
Ashes were inanimate. An improved demand
for breadstuffs prevailed. Cotton inactive. Flour
and meal exhibited an upward tendency. Grain
less active, and rather easier. Pork quiet, but
firm. Coffee and sugar active in freights, owing
to the break in the canal. There was little flour
offering.