The Sun.
London, England, 1853-04-05 00:00:00

MONEY AND COMMERCIAL NEWS

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool yesterday
were estimated at 8,000 bales, of which 2,000
American were taken for export and on specula-
tion. The market closed tamely but firmly. The
sales comprised 7,000 American, 250 Pernam and
Mara,nham, at 6d. to 'ad. ; 1,000 Egyptian at
6d. to 10d. 2 • 300 Surat, at 3d. to 4id. ; and 20 Sea
Island, at Is. 9d. to 2s. per lb.
Railway Shares were dull at steady p ices.
The railway meetings announced are the fol-
lowing :

Company.

Date. Place. 2
F Aberdeen April 19, Aberdeen.
Dijon to Besancon April 18, Paris.
Grand Junction of France April 30, Paris. 5
Lyons and Mediterranean April 30, Paris. 5
Manch., Sheff., and Line April 13, Manchester.
North of France......., April 30, Paris. 5
Paris and Lyons... ..... .
Paris and Strasbourg April 28, Paris.
Redruth and Chasewater
Sambre And Meu5e........ U. Thames-st.
April 30, Jardines.
South Yorkshire
Wet Flanders April 7, 61, Moorgate-st. a
Ditto
.......... April 19, Bruges.
One of the questions that of late has excited con- 25
siderable interest, is the probable supply of food to
st 25
our Australian possessions, and perhaps some idea 50
may be formed of the probable course which the
suin papal
fao da. e nord
awi ll
considerablet ke b y wphearti
ohda sprovisions
SO
in the latter country were rather scarce and dear, st.
and great fears were entertained lest there should St
be serious inconvenience felt. High prices, how- St.
ever, have had the usual effect of bringing forward St.
larger quantities for disposal, and at the latest date sStt..
in February the imports of flour and grain at San 12
Francisco had been very large. This was bringing 50
the rates down a little more than the average pre- 16i
vious to the speculations and advances of last June, St.
and in no other similar period, since the country 20
was ceded to the United States, has the fall in the 50
prices of tho staple article been so great as in flour 20
during the first fortnight in February. Perhaps 11A
this arises not so much from the low prices in- 10
variably resulting from the other extreme. The St
result, in any case, must prove beneficial to the bulk
20
of the community who have been-distressed by the 10
scarcity and dearness of the necessaries of life. St.
Barrelled flour was selling at 12 to 13 dollars for 50
cho'ce brands. The sock of domestic barley was 2450
abundant, both for seed and consumption, and 25
large arrivals were expected from South American st.
ports. Oats were being also regularly intro- 8i
duced in almost every vessel, either in direct ship- St.
ment or as packing material. St.
The strong feeling of disappointment which 25 50
some parties express at the delay in the granting 100
of Charters to Australian Companies, requires to st.
be met by a few remarks in explanation. Every 6
letter from the Colonies shows us that there is a 25
determination to have the full control of financial 20
matters, and to as great an extent as possible
the administration of political affairs also. The
colonies feel their power and loudly complain of being
ruled at a distance of 16,000 miles upon. even their
local matters. It could not be expected, there-
fore, that they would view with favour the indis-
criminate granting of charters to every company
that applies for them. Accordingly, the Select
Committee of the Legislative Council of New South
Wales in its report upon currency and banking,
emphatically request the Home Government not to
grant any more charters. It would appear that
some general banking law is contemplated, and that
the manner in which the older establishments have
realised their enormous profits, has given occasion
for jealousy and opposition. It does not follow,
however, that new banks cannot on this account
be established by English capitalists. The only
drawback is, that reference must be made to the
Colonies, and this is fully expressed in the follow-
ing official communication from the Board of
Trade :

"Office of Committee of Privy Council for Trade, St.
Whitehall, Ist April, 1853. 50
"Gentlemen,—With reference to the petition for a 20
charter incorporating the —, and which petition has 20
been referred by her Majesty to the lords of this cora 25
-
mittee for their consideration and report, I am directed
by the Lords of Privy Council for Trade to state to you 20
that my lords have forwarded the petition and draft 20
charter to the Colonial Department for the consideration 50
of the Duke of Newcastle, in order that, if he should 20
think fit, his Grace may communicate with the governor 10
of the colony to which the charter relates with reference 10
to the incorporation of the proposed company ; and I Bti
2
am to suggest to you that the promoters of the
25
company should address to the Colonial Department any st
communication which they may be desirous to make
upon the subject, and any observations which they may
desire to have forwarded with the draft charter for
the consideration of the Governor of the colony.—l am, a:-
gentlemen, your obedient servant," &c. &c.

The terms here are sufficiently unequivocal, and S
tally precisely with the declaration of our Colonial 2i
Minister, made a short time back in Parliament. ,8,
It has been industriously stated, however, that ''
there are exceptions to this refusal, but we may (
mention, upon the best authority, that the circular C
notice was forwarded to the three following banks
on Saturday last :—Chartered Bank of India, 3
Australia, and China ; London Chartered Bank of 5
Australia ; Royal Australian Banking and Gold 7,
Importing Company. 6
It may be further stated that the Chartered
Bank of India, Australia, and China was refused 6!
as far as India is concerned in the month of Dec.
20
last, and that the application for the Australian
charter was responded to in the negative, as above St.
mentioned. i
The Australian Consols Mining Company intend
to remodel the concern, ha ving introduced several St.
new directors, and contenr Slating a disposal of s .
their landed property to eFgible parties. The capi- t.
tal hereafter will consist of the following :
Shares. 6,

Shares.

Original shares of IL
each 60,000
New shares of II 40,000
Free 11. shares to the
original holders,
without further
payment 200,000

To be converted into— 5O
new 51. shares 12,000
To be called Si. shares 8,000 St.

ITo be made 51. shares 40,000

/Total °fussy 51. shares 60,030
This represents a total capital of 300,0001., and
any bonus arising from the sale of the lands will
belong to the shareholders. As to the new issue
of shares (the 8,000), they, it is expected, will be
readily taken up by parties connected with the
company, and will not be issued before the free
shares are distributed to the holders of the original
shares.

The English funds have been dull, and there has
been less buoyancy in prices. Some discussion has
arisen as to the meaning of the Chancello:• of the
Exchequer in reference to the Consolidated An-
nuities Bill, and some imagine tl'at the purchases
for the Sinking Fund will not hereafter be made
from the Commissioners' box. Exchequer Bills of
March are 7s. to uh. premium.
Foreign Stocks are well maintained still. Mex-
ican have been as high as 27 and 28. Grenada
are at 23k, and Peruvian Deferred at 64. Spanish
New Deferred have been at 241. The Turkish
Loan is 21 to 21 premium.
The Gold Mine Shares have been inactive, and
the order from Sydney to sell freely of the Great
Nuggett Vein, instead of sending them over for
the disposal of the shareholders, causes them to
rule very heavy. This is precisely what we anti-
cipated at the time these shares were introduced
into the London market, and- every word we wrote
upon the subject has been confirmed. A more fal-
lacious and rotten system than that of issuing
Colonial shares at a high premium, cannot be con-
ceived. The accounts received by the Port Philip
Company are not very favourable, and the Colonial
Gold was dull.

In the Joint Stock Bank Shares there is a further
decline, principally upon the Australian Companies,
whether those which have already goL their char-
ters are subject to modification we cannot officially
state ; but it is so reported, and it really seems as
though some power of the sort would have been re-
served by Government.
The railways are quite neglected, but are rather
firmer in some instances.

BRITISH FUNDS THIS DAY.
(From the Official List.)
Business done.
:3 per Cent. Consols Annuities
India Bonds, £lOOO 43
Ditto, under £lOOO 4B 3
Consols for Account
Exchequer Bills, 13d. June.
£lOOO
£5OO
Small ll 7

March
11 7
11 7
11 7

PRICE OY FOREIGN FUNDS TIIIS DAY.
Danish Bonds, 3 per Cent.
Grenada Bonds, Deferred,
Ditto Ex Dec., 1849, Coupon..
Greek ex over-due Coupons
Mexican 3 per Cent 274
Ditto Account April 15, 27i 8 7g i
Peruvian Bonds, 1849, 4i per Cent.
--- Ce /

Ditto Deferred, 3 per Cent 63.
Portuguese 5 per Cent. .. 43
Russian Bonds, 5 per Cent. ...... ...... ..... . 118 i
Sardinian Bonds, 5 per Cent. ..... .
Spanish New Deferred, 3 per Cent... 24/ i
Spanish Committee Cert. of Coup. not fun. so 8 /
Turkish Loan, 6 per Cent., 1852 2,i i 3
Venezuela Bonds 34 per Cent 39/
Dutch Exchange 2l per Cent 65
Ditto 4 per Cent. Certificates...

• THREE O'CLOCK.
Consols lOOOOl A 120
Ditto April Account