The Sun.
London, England, 1853-10-19 00:00:00

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 6,000 bales, of which 1,500 American
were taken for export and on speculation. The market
closed firmly, and, compared with Friday's rates,
prices of American at 51d. to 6kd. were *d per lb.
higher, Brazil and Egyptian id. lower, and Surat
without alteration. The sales comprised 5,000
American, 20 Pernam and Maranham at 6d., 40
Bahia at 6id., 20 Egyptian at Bd., and 700 Surat
at 3d. to 41d. per lb. Railways were firm.
At the Indigo sale yesterday the remainder of B
catalogue passed, which went off exceedingly flat.
A catalogue was then resumed, but went off with-
out animation, and prices were again rather in
favour of buyers ; 2,199 chests passed, of which
1,067 were withdrawn, 714 bought in, leaving 418
sold. Total passed, 14,520. The sale is expected
to finish this afternoon.
There are no arrivals to-day, and the absence of
the correspondence which should at least a fort-
night since have reached the merchants from
Australia causes a lull in business which is not due
so much to the money market as to the want of in-
formation. It cannot be denied, however, that
there is a desire in most circles to contract engage-
ments as much as possible. In some observations
upon the state of the corn market by Messrs. Sturge
and Co., the fact is very properly noted, that there
is no probability of short supplies, considering the
numerous countries which have a superabundance,
and only wait the means of transport. What with
the high prices that exist, and the impediments
that have been thrown in the way of other busi-
ness, the growers of corn, as well as the merchants,
will be glad to push forward any quantity they can
obtain. Under these circumstances speculators
should be cautious how they act. If it be admitted
that the wheat crop is more deficient than in any
year since 1816, it is also true that the quantity
of other grain is a_ full average, and it must be

taken into account that the lateness of the harvest
brings us one month nearer at least to the next
crop ; so that we have to look to a provision for 11
rather than for 12 months, supposing 1854 gives us
an earlier harvest than we have had this year. The
very wet and unpropitious weather we are now
experiencing is against the putting in of seed, and
contrasts unfavourably with the beautiful weather
that prevails in France. Ships being released from
the Australian and other overdone trades, will be-
come available for the carrying of grain, and this
is matter for congratulation, since the scarcity of
vessels has been a great hindrance to the trade.
There was a slight decline again yesterday after
noon in the rates at which bills of exchange upon

the principal Continental cities were negotiated
here. Paris, 90 days, was taken at 25 274 to 324;
Amsterdam, 11 18 to 181: Hamburgh, 13 6 to 64;
and Trieste, 11 18 to 22.
There are indications of an increased demand for
gold, and shipments of silver to India will con-
tinue. By the Orinoco, 61,0001. has to-day been
sent to Peru. At Paris gold is dearer than here,
and money is in demand at Hamburgh.
The annual statistics compiled from official re-
turns by Mr. Mihill Slaughter, the secretary of the
railways department of the Stock Exchange, and
forming No. 7 of " Railway Intelligence, " are
fuller even than those previously given. Look-
ing at the dividends upon the various classes of
shares since the year 1838, there are some very cu-
rious changes. In the year 1841 the Birmingham
and Gloucester line paid at the rate of only 14 per
cent. per annum, and in the following year not more
than 14, whereas in 1846 it had merged into the
Midland upon the excellent terms of 6 per cent.
The Bristol and Exeter since 1842 has fluctuated
from about 34 to 44 per cent. per annum. The
Eastern Counties during the second half of 1850,
and the first half of 1851 paid no dividend, al-
though in 1846 it afforded 64 per cent. Its last
return was at the rate of about 24 per cent., leav-
ing still much room for development or recovery.
The Lancashire and Yorkshire, in 1847, paid 7 per
cent., and now does not yield half that amount.
The London and Birmingham was as high as 111-10
per cent., and since it has become the North-

Western A has been down to 5 per cent ; the South-
Wes;;arn has varied between 1839 and 1853 from
3 to 8 per cent. per annum ; the Midland from
7 to about 2 per cent ; and the South-Eastern
from 6-three-tenths to about 3 per cent. It would
be difficult to trace out the particular causes of
these great changes, but the general influence of
competition, amalgamation, and excessive expen-
diture, together with precipitate guarantees, is
everywhere palpable.
In the English Stock Market there has been a
much duller tone than of late, and although a few
money purchases for investment have been made,
the supply of Consols seems to have increased, and
the full employment obtained for money is proba-
bly leading to a few sales by the bankers. Consols
have been 91$ and i for transfer, and 911 and g for

account. Tlie speculative business is very circum-
scribed, and the market evidently is not now de-
pending upon politics so much as upon money. The
New 3f per Cents. have been 92g to 1, and the 3
per Cent. Reduced Annuities, 94 to 94. Bank
Stock is steady at 217. Exchequer Bills are 4s. to
Bs. premium.
Foreign Securities are but little dealt in. Spanish
Deferred Bonds have been at 211, and the Certifi-
cates at 51. Mexican Stock is not higher than 23/ 5.
Sardinian Bonds have been 90&. Dutch, 2i per
Cents. have been quiet at 62/. There have been
no transactions in Russian.
The Railway Share Market is even tamer than
the funds, and prices rule slightly in favour of
buyers. French shares keep steady, but with very
little doing. It is stated that the brokers at Paris
exercise the greatest caution in conducting specu-
lative operations for their clients, and that in many
cases there is a refusal to do business even for par-
ties of known means, unless a large deposit is given
to cover any possible loss. In fact, the wish seems
to be to avoid business. Under these circumstances
the quotations given from day to day in the Paris
Cours Authentique are principally nominal.
In the foreign and colonial mining markets there
have been a few bargains at about the previous
rates, but the Nouveau Monde are lower.
The shares of the Australian Banks are firmer.
Peel River Land Shares are about the same.
London Dock Stock has been done 30s. lower.

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

Business done.
~ 217

Bank Stock ........ .........
3 per Cent. Reduced Am.lies 9oi
3 per Cent. Consols Annuities 9li
New 31 per Cent. Annuities 923 a
Lo'ig Annuites, Expha sth Jan., 1860 -16 3-16
rmsols for Account
Exchequer Bills, 2d.
£lOOO
£5OO 7 4 8 p
Small 7 4 8 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK
Equador Bonds
Mexican 3 per Cent.
Sardinian Bonds, 5 per Cent 904
Spanish New Deferred, 3 per Cent. 2ll
Spanish Committee Cert. of Coup. not fun. 5/ p c
Dividends on the above payable in London.
utch Exchange, 24 per Cent. 12 Guil
HALF-PAST TWO.
Consols 9ls
Ditto October Account 9la t%

MARKET NEWS-(THIS DAY.)

CORN EXCHANGE.

A very limited supply of English wheat was on offer in
to-day's market. Owing to the brisk advices from Liver-
pool, the demand ruled very firm, and, in some instances,
rather more money was obtained for fine samples.
There was more doing in foreign wheat, the show of
which was far from extensive, at the extreme rates of
Monday. Floating cargoes were firm.
Barley and malt moved off steadily, but we have no
change to notice in their value.
Oats were in good request, and the turn higher.
Beans, peas, and flour sold on former terms.
ARRIVALS THIS WEEK.
Barley. I Malt.
680 J 1,030
400
15,130 6,170

Wheat.
570

English ..
Irish ....
Foreign ..

Oats. Flour.
39 1,120
5,! 6 )
4,520 1,8401,r1