The Sun.
London, England, 1854-03-24 00:00:00

MONEY IVIARKEf

AND
COIIII.IIEI2OIAL INTELLIGENCE.

CITY, TWO O'CIMCK.

The sales of cotton at Liverpool yesterday were
estimated at 5,000 hales, a!1 to the trade. The
market closed heavily, with American and Surat
id. per lb. lower, and all other kinds in favour of
buyers. The sales comprised 4,000 American, 260
Pernam and Maranham at 6d. to 60., 130 Bahia
at 6id. to 60., 100 Egyptian at 54d. to 9&d., and
600 Surat at 3d. to 4d. per lb. Railway Shares
were very depressed.
Colonial Produce has been dull and declining.
Foreign sugars have been wanted for the Continent.
In coffee very little has been done, and rice has
given way. Ruin was heavy, but a Government
contract for 49,000 gallons has unexpectedly been
announced. Tea has been cheaper, notwithstand-
ing the time for further reducing the duty is near.
Tallow has been as high as 665..61: for P. Y. C. on
the spot. Russian hemp has risen to 681. and 701.
Cotton has been steady, though quiet.
In the simultaneous arrival at Calcutta of Dr.
O'Shaughnessy and Mr. R. M. Stephenson, we
have a good augury for .electric telegraphs and
railways. Dr. O'Shaughnessy, who leaves Calcutta
immediately for the north-west, will find the work
far advanced already. Poles for the electric tele-
graph have sprung up as if by magic along the
greater length of the Grand Trunk Road, and wo
sear that very great progress has been made on
the Bombay line, so that the end of the cold season
will see at least two sides of Or. O'Shaughnessy's
great triangle very nearly completed. In the
meanwhile we learn that Dr. Impey, the Residency
Surgeon at Indore, has completed a telegraph be-
tween the Residency and the Hospital. a distance
of little more than a mile ; while Madras has for
some time past had a short working telegraph con-
structed by an intelligent and enterprising trades-
men named Kenrick. We have received a descrip-
tion of Dr. Impey's telegraph. Its mechanism dis-
plays no little ingenuity ; and although it is not
likely that it will be ever incorporated in the Great
Bombay and Agra line, yet the experience of Dr.
Impey and of the natives whom he has trained to
the work, will very probably be of great use to Dr.
O'Shaughnessy.

We Dave said that the arrival of Mr. Stephenson
augurs well for our railway prospects. But one
cannot help remembering that Mr. Stephenson has
landed in India several times during the last ten
years under circumstances of almost equal pru-
mise, and that Bengal has not yet a single mile of
working railway to swear by. And though, it 14
now beyond doubt, that the Home Government
has guaranteed 41 per cent, interest on nine mil-
lions sterling, a sum of money sufficient to com-
plete a railway from Calcutta to Delhi, the next
mail may bring news which will indefinitely post-
pone all our prospects. The first shot fired in
auger on the Black Sea, would blow to the winds
all hope of obtaining the requisite capital in Eng-
land, so that Mr. Stephenson's latest visit to India
may yet be as fruitless as all his former visits.

The Canada Company made yesterday a most
favourable report to its proprietory. Its sales of
laud are annually increasing, and the prices ob-
tained are higher per acre. The leasing system
has answered admirably, and there can be no
doubt that in the present very prosperous condi-
tion of British North America, the property of the
company will become increasingly valuable. There
is certainly no colony that offers more excellent
prospects for the industrious and steady-working
emigrant averse to excitement.
The suspension of Messrs. P. Monteaux and Co.
for about 100,0001., is proof of the danger attend-
ing, in these times, operations that partake of
a speculative character. The firm dealt in bills of
exchange :ind bullion, hit lost heavily by Mr.
Pries, who committed the forgeries in connection
with corn dealings. The assets are uncertain, but
under very favourable circumstances they might
realise 10s. in the pound.
The number of ships taken up by Government
for the conveyance of troops and stores to the East
is so large as to compensate the comparative slack-
ness cif the Australian trade, although, within the
last fortnight, there have been larger shipments to
Melbourne than there were previously. The rates
ot freight to Australia, per 40 cubic feet, as givun
in the Weekly Shipping List, for tine measurement
goods, are as follow :—Adelaide, 80s. to 100 s. ;
Hobart Town, 85s. to 100 s. ; Hobart Town
(steamer), 120 s. ; Launceston, 80s. to 100 s. ; Mel-
bourne or Geelong Wharves, 100 s. to 110 s. ;
Melbourne or Geelong, 80s. to 100 s. ; New Zea-
land, 120 s. ; Port Philip (steamer), 120 s. ; Port-
land Bay, 120 s. ; Swan River, 70s. to 80s. ; Syd-
ney, 80s. to 100 s. _

Letters for Australia maybe posted on the 3CI of
next mouth, to go by the steamer Queen of the
South, and the Great Britain is expected to
leave Liverpool about the 13tii of April. Arrange-
ments have been made 6ir the conveyance of par-
cels per Q neer' of the South at comparatively cheap
rates, a great accommodation to persons having
relatives in the comities.

The Turkish Luau is to 1 premium. Yester-'
day it ranged from 1i to 3 premium.
The English Funds have been 1 to 2 per cent.
lower this morning, upon the rumour that a mes-
sage declaring war will be sent to Parliament this
evening. Although the war undoubtedly will
come, the same assertion has been made so often
recently, that there is really no cause why Stocks
should be further suddenly affected thereby. The
market, however, is influenced by other circum-
stances ofa more enduring, character. Money is becom-
ing dearer, and capitalists are more disposed to sell
than buy. State loans are being contracted in every
direction. The English Governmen t has been rather
pressed upon by having to pay off the dissentients
the Conversion, and the unfunded debt being
scarcely at par, does not offer the usual resource.
There is, however, no real motive for alarm much
less panic. The revenue is good ; the Bank of
England, after the dividends are met, will be in an
easier position, and with respect to mercantile failures
thougii more will occur, they will be found generally
ascribable to speculation or losses through the sus-
pension of other parties. Some consolation, it is,
to see Russian paper currency at a heavy discount;
and, if the war should foster revolutions, we may
expect specie to be sent to this country for security
at least, if not for investment. Consols have been
this morning at 882 and 89, and since at 88j to
Exchequer Bills are 2s. discount to 2s. premium.
Foreign securities have been heavy, but not de-
cidedly lower. By au error in the official list yes-
terday, the prices of Sardinian Bonds were affixed
to Russian 5 per Cents., which were not done lower
than 831. To-day's price is 841. Dutch 4 per Cents.
are 832 to 84. Mexican Stock has been at 221 to
222 ; and Spanish Deferred have realised 17f to 1.
Brazilian New 41 per Cents. bring 871. Portuguese
4 per Cents. are at 33.

The Railway Share Market is 1 to 2 per cent.
worse again, and with increased real and specula-
tive sales. North-Western, Great Northern, South-
Western, and all the Hues quoted with large
amounts paid up are very depressed. French
shares are firm.

The English and Foreign Mining Shares have
been dull, the Australian Banks lower by to 1 per
cent., and the Australian Agricultural Land Com-
panies is down 21.

BaITISEI FUNDS THIS DAY.—CLOSING PRICES

(From the Official Lie.)

(timin.qa Oen,
3 per Cent. Console Annuities . i
89 Bii isi
cinsols for Account 18th April 834 i..4A
Exchequer Bills, 2d.
£l000
2500 1 d
PRICE OF FOREIGN FUNDS THIS DAY.
nrazilian Bonds, 5 per Cent. —
Ditto New, 1852, 44 per Cent .
‘fexican 3 per Cent. . 22* i i
Peruvian Bonds, 44 per Cent
Portuguese Bonds, 4 per Cent ...
Ditto Ex all over-due Coupons 3')
Ditto, 1548, 3 per Cent ........ ...
Russian Bonds, 1822, 5 per Cent. XSt 844 ad
Mit.) 41 per Cent 74
Spanish New Deferred, 3 per Cent. 174 4
Ditto Passive (Converted)
Venezuela Bonds, 34 per Cent. .........
Dividemls on the above payable in ',onion.
Dutch Exchange, 24 per Cent. 12 Mil 53 434
Ditto 4 per Cent. Certificates .....
THREE O'CLOCK.
Console BBa
Ditto April Account BBa a

ODESSA. -- Letters from Odessa, of the 10th inst,
state that all the labour of the port was monopolised in
expediting the shipment of corn preparatory to the en-
forcement of the prohibition on the 13th. Meanwhile.
owing to that prohibition, wheat had experienced a fall
of about 50 per cent.
RUSSIAN PRODUCE.—The excitement in the market
for Russian produce continues, and hemp has experienced
another considerable advance, the price being 68/. to 701.
per ton. Three weeks back it was sold at 47/. Tallow
also is again firmer, as well ai palm and cocoa, nut Oil.
THE TURKISH Lo.u•r.—The expected particulars of
Vie Turkish loan were not issued yesterday, but it is
understood the public ition will take pt tee to-morrow,
with a notification from Messrs. Rothschild that they
will receive subscriptions up to Monday evening next,
the 27th inst. The nominal amount of the loan in stock
will be about 2,700,0001., and the deposit is said to have
been fixed at 15 per cent. The subsequent instalments
will be four in number, at monthly intervals, namely,
one of 10 per cent.. and three of 20 per cent. With re-
gard to the sinking fund, its first operation will take
place on the Ist of Apia, 1855, and the bonds then
drawn will be paid off in October, 1855, the whole being
reimbursable in this manner by annual amounto within
14 year, of that date.