The Sun.
London, England, 1854-09-13 00:00:00

INI ONEY.

I 4 A it K 14]

41N D
GO 'I MERCIAL INTELLIGPNCE.

CITY, TV O o'C LOCK.
The sales of cotton at Liverpool yesterday
were estimated at 5,000 bales. The market closed
tamely, but steadily, with prices of all kinds un-
changed. The sales comprised 200 Egyptian at
Od. to 70., 40 Sea Island at is. Od. to Is. ld.,
and the remainder nearly all American. Railway
Shares were firm and steady.

The steamer Arctic has arrived off Liverpool,
With 1,130,705 dollars in specie, and dates three•
days later, viz., to Sept. 2d, inclusive. The stock
market was again very depressed, after a rally
Which occurred on the 29th ult. The Erie Rail-
road Company appears to be in great embarrass-
ment. Oue writer states
" Mr. Vanderbilt has loaned the Erie company his
endorsement on $400,000 of its paper of short date, for
which he has received a mortgage on the entire rolling
property of the road. Everythi ig in the shape of a loco-
motive, freight and passenger car, has been pledged for
the above-named sum, instead of $600,000 as at first
Proposed. Of th e $4OO, 000 raised by mortgaging the move-
able property of the company, $300,000 will be paid out
to-morrow for interest then duo on the bonds. This leaves
but a small amount for other purposes. It would be well
enough for the company to appropriate the balance to the
Payment of wages due labourers along the line of the
road. We are informed that along the Delaware di-
vision labourers have been paid only up to the Ist of July.
Wages due for June were not paid until a week or two
ago. July and August are now due. This is a pretty
position for the Erie Railroad Company to be in. The
president, no doubt, receives his salary of $lO,OOO per
annum as soon as due, and all the other officers with
enormous salaries, the same, while the poor labourer,
whose credit at the nearest store depends entirely upon
his prospective pay, is put off month after month, until
he can get no more pork and bread upon his promises to
pay when the company pays him. These may be' con-
sidered trifling matters, but a shrewd stockholder will
be able to draw correct inferences from even such trifles,
and govern himself a .cordingly,"
There were appearances of rain in New York
State at the latest date.
From Mexico it is stated that Villareal, the
second in command to General Alvarez, had died
of his wounds.

Venezuela is stated to be still in a very disturbed
condition. . Honduras had been visited by swarms
of locusts.

The accounts from Brazil by the Great Western
steamer represent business as being dull at Rio.
The market report from Buenos Ayres is likewise
unsatisfactory.
The arrangements by which the remainder of the
Exchequer Bonds are to be issued appear to be so
far judicious that they widen the probable sphere
of circulation by reducing the separate amounts of
the Bonds. In the instruction given it is provided
that the bonds and certificates attached thereto
Shall be provided to the amount of 900,0001.
111.. bonds of 1,0001. each, 530,0001. in bonds
O 5001. each, 300,0001. in bonds of 2001.
et
ach) and 270,0001. in bonds of 1001.
each.
This will give 2,700 bonds of the
lowest denomination, and any one acquainted with
Stock Exchange matters will appreciate the conve-
nience of this plan, and understand the probability
O tne securities being taken up by parties who other-
wt
, Ise would not invest in them. The bonds of the
ifger amounts will, at the same time, be useful to
the bankers and others. On the face of each bond the
intimation will appear that the capital is to be paid
off at par on the Bth May, 1858, the interest being
at the rate of 3l per cent. per annum. The into-
rest may be received by any one holding the an-
boxed certificates, of which a form is given, stating
that the borrower is entitled to a half-year's divi-
dend. Thus, a bond of 1,0001. will bear a Coupon
of 171. 10s. for the half-year ; one of 5001.
,
yield 81. 15s. ; one of 2001., 31. 10s. ;
one Of 1001. 11. 15s. This is quite a new feature
In Connection with English securities, and we have
not the slightest doubt that at no very distant date
they will, as we have always contended, be made
freely available for the purpose of remittances.
hitherto Dutch and other foreign Coupons have
Passed from hand to hand in the same way, and
been found very acceptable, although they
Could never be as serviceable as a bond payable at
Par within a given date, being subjee,t to greater
fluctuation in the different markets. The A and
the B series will now be in circulation, authority
having been given to the cashier of the Bank of
England to receive the same from the Comptroller-
General of her Majesty's Exchequer. Having ap-
proved of the experiment of issuing Exchequer
Bonds from the moment it was first announced,
yv
and having, in fact, joined with the practical men
in the suggestion that some such course should be
taken, we feel an especial pleasure in the success
106
Which has'attended the attempt, notwithstanding
the bitter opposition manifested by disappointed 20
speculators, who were particularly solicitous that 20
there should be a further addition to the funded
171
debt of the country. 20
This has been settling day in the Stock Market, 20
and it would appear that the Account is decidedly 200
Bullish. The "continuation" has been as much °
20
as to a per cent. on Consols, which, after being 20
95 for transfer, fell to 95± g, though now again 100
5 • The prices for October have been 95 -a, and 100
• since 95a i. Exchequer-bills have realised Cs. to 20
Bs., and India Bonds 6s. prem. The Bonds of 1859
25
have been done at par. East India Stock has 25
been done at 225. The arrival of about 280,0001.
100
in specie this morning will afford acceptably means
for the next instalment upon the Turkish Loan ; 10,)9
and the change of wind will no doubt bring for- g
ward several Australian ships that must be off the 5
coast. 20
The Foreign Stock Market continues very quiet. 100
Russian 5 per Cents. are 872 to 881- being lower,
100
and Spanish Bonds are flatter, the 3 per Cents. at 100
.3n, the New Deferred at 182 and the Passive at 4 100
and 41. Brazilian 5 per Cents. are quoted 102, and
Dutch 4 per Cents. 912. The Turkish Scrip opened
at si-, but has subsequently been as low as 514.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds, 6 to WI ;
Mexican, 242 to 25 ; Peruvian, 70 to 72 ; ditto
3 per Cents., 51 to 53 ; Portuguese 4 per Cents.,
40 to 42 ; Russian 5 per Cents., 98 to 100 ; ditto
41- per Cents., 88 to 90 ; Spanish New Deferred,
181 i to 18.• ; ditto 3 per Cents., 371 to 381 ; ditto,
Certificates, 51 to 51 ; ditto, Passive, 4 to 41.
This is "making up" day in the Railway Share
Market, and the business done is chiefly in refer-
ence to the settlement of the Account to-morrow.
The movement in prices is not uniform, but the
tendency generally is towards a decline. The
Foreign lints are very dull.
In Mining, Banking, and the miscellaneous
Shares dealings are unimportant.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
(Prom the (*cid List.)
Business done.
3 per Cent. Consols Annuities 951
Long Annuities) Expire sth Jan., 1860
Ditto 30 Years, Expire sth Jan., 1860 4i
India Stock
India Pouds, £lOOO
Consols for Account 17th Oct.
Exchequer Bills, 20.
£lOOO .........................
£5OO .......................... ...... ..... 9 6
Small ......................................... 9 6
Exchequer Bonds 1858, 3,1 i per Cent. —
Ditto 1839,
PRICE OF' FOREIGN FUNDS THIS DAY.
Brazilian Bonds, 5 per Cent . 102
Mexican 3 per Cent.
Sardinian Bonds, 5 per Cent. ........ 7i 8
Spanish Bonds, 3 per Cent ......................
Spanish Nov Deferred, 3 per Cent. lBi
Ditto Passive (Converted) ............... .. 4 t,
Spanish Committee Cert. of Coup. not fun. 5I p
p
sihik
Turkish Scrip ...................................
Dividends on the above payable
Gull in London.
Dutch Exchange, per Cent. 12
Ditto 4 per Cent. Cortifieates...... ...... 944
THREE O'CLOCK.
95.,
Consols
Ditto October Account ......... ...• • - • 051

THE CANADIAN ASSEMBLY was to meet at Quebec on 20
the sth September for the despatoh of business, and the
reciprocity treaty would have to be assented to in
50
Canada and the other provinces before it can come into 50
operation. As remarked by General Cass, this treaty 100
" terminates all existing differences between the United 100
States and Great Britain, and leads to the hope that the
only contests between them will be a generous rvalry in 20
i
all that constitutes the true progress of rations. 50
ALARMING FIRE AT CLERKENWELL.—Yesterday after- 202
noon, between the hours of one and two, a fire broke
out on the premises of Messrs. Elston and Sons, watch- toc
dial manufacturers, carrying on business at 42, Myddol- 1(
ton-street, Clerkenwell. The engines of the parish, I
three of the London Brigade, and that of the West of
Erg and Office, were soon in attendance, and the fire 21
was eventually extinguished, but not until considerable
damage was done. The sufferers were insured in the ..
Royals Faighange Fire eftlee. 6