The Sun.
London, England, 1853-04-14 00:00:00

MONEY MARKET AND COMMERCIAL
INTELLIGENCE-(THIS DAY.)

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at from 8,000 to 9,000 bales, of which
2,000 American were taken for export and specula-
tion. The market closed firmly, with prices a shade
against the buyer. The sales comprised 6,000
American, 500 Pernam and Maranham at bid to 61{1,
500 Bahia at 61d, 500 Egyptian at 61d to 6id, 400
Surat at 4d. to 41d, and 300 Sea Island at is. 9d.
to 2s. Bd. per lb. Railway Shares were steady.
The steamer Baltic has arrived from the United
States with later dates, and as much as 600,000
dollars in specie. This remittance, with the ex-
change at 10k to 2, can only be explained upon the
assumption that payment of accounts, owing to the
high rate of interest, has been delayed as long as
possible, and that there being now an absence of
good bills, parties are obliged to send gold even
at an apparent loss. There is no choice, cotton
hills not always meeting with ready currency.
There is another reason, probably, why efforts are
making to remit at once, viz., that the imports of
European merchandise into America were very
large last month, and far outbalanced the exports.
Accounts from France state that the floods on the
26th, 27th, and 28th of last month, did consider-
able damage, and further retarded sowing opera-
tions.

A new railway from Lyons to Turin is sanc-
tioned, but although the policy of the Emperor of
the French is to have the capital for such under-
takings provided in England, in order that the
Bourse may not feel the incumbrance, it is the
growing opinion that further subscriptions to any
foreign project, however good, should be avoided,
at least for a time. It is impossible to believe that
the money market will bear such a continuous
strain, and the payment of calls will operate
oven more severely than the preliminary deposits
have done, because many parties make it a point to
sell out at a small premium the moment a company
is formed, and the scrip is negotiable in the market.
In this way they proceed with a limited capital,
subscribing to every new concern of which they
can obtain shares, and the circle widening, smaller
capitalists, as well as large ones, are brought within
its circumference, leaving future holders to pay the
additional instalment. Such being the case, a
warning may usefully be given, even though it be
simply in reiteration of what has been often before
stated under this head. Home and colonial under-
takings at• any rate should. receive a decided pre-
ference.

The Spanish official agency have given notice
that the 17th auction takes place at Madrid, on the
29th inst., when 750,000 reals will be assigned by
the Government.

The English Funds, now the Account has been
adjusted, are looking up, and there is good support
given to prices by the purchasers for money. If
the Chancellor of the Exchequer were to modify his
plan to obviate an increase in the capital of the
debt, there would probably be a speedy rise. Con-
sols have been 1008 for Transfer, and 100/ for
the Account. The New 31- per Cents. have
realised 1031 to 4, and the 3 per Cents. 99 to 100.
Exchequer Bills of June are 4s. to Bs. preen. East
India Bonds have been quoted 445. premium.
Bank Stock is worth 225 to 226, and India Stock
260 to 2621. South Sea Old Annuities are 99k.
Foreign Stock are very qtiet. Peruvian Defer-
red have been firm at 671. Mexican are worth
I 27i. Grenada Active Bonds are at 231.. Portu-
guese 5 per Cents. are worth 43. Spanish New
Deferred are 24i. The Certificate is at 6to 1, and
dull.

Railway Shares are generally firmer, and the
settlement of the Account is being got over to-
lerably well. The rates of " continuation" are
scarcely so high as they were, but speculators for a
rise having preponderated, are closing accounts,
and hence the market has not participated in the
improvement in Consols. Midland, Lancashire,
Caledonian, and South-Eastern have been most
dealt in. The Foreign lines are generally very
firm.

The Gold Mine Shares are heavy as regards the
Australian Companies, the Colonial being lower.
The Agua Fria, however, are very firm.
The Land Companies' Shares are all improving.
The " contaugo" has been high on South Austra-
lian and Van Diemen's Land.
In the Australian Banks the bargains have been
limited, and prices are flat.
The last week's railway receipts ascertained up
to this day, are in round figures as under
1853. 1852.
Great Western £20,481 £17,498
North Western 45,753 42,320
South Western
11,099 11,634
Brighton 11,492 10,613
Midland
South Eastern 13,737 13,677
Caledonian
Great Northern
Lancashire and Yorkshire 18,220 17,405
The following concerning the fall in the price of
Copper is furnished by Messrs. Tredinnich and
Co..—

" We regret to have this day to record a fall in price
of copper of fully 101. per ton. Last Thursday the
standard again fell, and during the last month a decline
of fully twelve per cent, took place. This must
materially affect the standard Dividend Mines of Corn-
wall and Devon. We, some weeks ago, drew attention
to the high price at which many of these were
selling in the market, and expressed our apprehensions
of a reaction shortly taking place. This, unfortunately,
is now being felt, in the disposition of holders to realise
and the scarcity of buyers in the market. We have
more especially at all times directed attention to mines
of a legitimate character, having capital subscribed,
situated in good localities, with analogy in their favour,
and under good and practical management, as most de-
Sirable for investment."

BRITISH FUNDS THIS DAY.
( From the Official List.)

Bank Stock
3 per Cont. Reduced Annuities
3 per Cei.t. Consols Annuities
New 3i per Cant. Annuities
Long Annuities, Expire sth Jan., 1860
Ditto 30 Years, Expire sth Jan., 1860
India Stock
India Bonds, £lOOO
Ditto, under £lOOO
South Sea Stock, Old Annuities
Consols for Account
Exchequer Bills 16d.
£1000.....
£5OO
Small

Business done.
_ 226 5
99 100
. 101
, 103 i i
61.166
6 5-16
. 260 23
, 44
45 38
. 991
1004 1
June
. 84
. 4

March

PRICE OF FOREIGN FUNDS THIS DAY.
Grenada Bonds, Ex Dec., 1849, Coupon... 23i
Greek ex over-due Coupons
Mexican 3 per Cent.
Ditto Account April 28 277,-
Peruvian Bonds, 4:1. per Cent. B6l
Peruvian for the Account
Portuguese Bonds, 5 per Cent. ..... 43
Ditto 4 per Cent.
Russian Bonds, 1822, 6 per Cent. St llBl i
Sardinian Bonds, 5 per Cent. .........
Spanish Bonds, New Deferred, 3 per Cent 24 31 4i
Spanish Committee Cert. of Coup. not fun 6s 6
Dutch Exchange 2i per Cent - 65
Ditto 4 per Cent. Certificates~.
THREE O'CLOCK.
Consols.... IOO -,1
Ditto May Account