The Sun.
London, England, 1853-04-07 00:00:00

STATE OF TRADE.

In commenting upon the state of the foreign
stock market for the month of March, Messrs.
Lamond and Co. state :

" A larger amount of business than usual has occurred
in foreign securities. The character of transactions
shows that low priced descriptions have been principally
purchased. Spanish Unfunded Certificates and Greek
ex over-due Coupons have been favourities, and the rise
they have experienced have been well supported. The
reason of the favourable change in both cases may be
traced to almost parallel circumstances. Spanish Certi-
ficates, it is stated, are to be admitted at the rate of 10
per cent. in the proposed new loan, and hence up to 84-
they have found free buyers, although they are scarcely
so high at this moment. With respect to Greek, the
quotation of which has been supported at 9, negotiations
for the introduction of railway enterprise into the coun-
try have, it is believed, been made, the terms of which
stipulate for a recognition of these bonds at a fixed
value. Those who were acquainted with the proposals
bought largely, at prices varying from 7 to 84, but at 9
these transactions have apparently stopped, and it is
therefore presumed that the maximum point has been
. .

nearly reached. Spanish Stocks generally have been
operated in to some extent, but the certificates have
carried away the chief of the business. The Three per
Cents. are 484 to 49, the New Deferred 241 to 25, and
the Passive 54 to 6. Mexican, under the most dis-
couraging appearances of affairs in that republic, have
not fluctuated violently, but the extreme advance has
not been supporters. The speculators for the fall have
not recently had the courage to continue their trans-
actions, having already suffered severely from previous
losses, and the market consequently has been relieved
from any such adverse operations. The latest quotation
is 25i to 26k. Ecuador has steadily advanced,
until it has touched 5A to 6. No definite arrange-
ment has, it seems, been come to for a settlement of
claims, the commissioner having been compelled to re-
fuse the terms offered ; but the alleged discovery of gold
within the precincts of the Government has awakened a
hope that if such resources exist they will expedite an
arrangement. New Grenada and Venezuela are also
better, quiet purchases having been made by individuals
who consider that the development of various kinds of
enterprise in these localities cannot fail before long to
have an influence upon their credit. Russian were con-
siderably affected by the apprehension of hostilities with
Turkey. Both the five and the four-and-a-half per cents.
dropped directly the intimation was conveyed, and the
decline was indeed the precursor of the panic that then
took place. A range of fluctuations in these stocks,
equal to 3 per cent., is an event seldom witnessed, and,
as long as the least apprehension was entertained, bar-
gains were concluded for a large amount. The quota-
tions have since recovered, and they are respectively 118
to 119 and 103 to 104. Singular as it may appear, it is
nevertheless true, that Turkish scrip, in the midst of this
excitement, suffered no depression. On the contrary, it
was throughout firmly maintained, and subsequenty went
up from 1/ to 24, upon an arrangement of the demands
of the bondholders having, it is said, been'-agreed to.
Although it is understood an attempt is being made to
re-orgar.ise the Bank of Constantinople, difficulties may
yet interfere to prevent the realisation of the plans con-
templated. The price has since become weaker, no offi-
cial announcement having been made, and is about 2 to
2i prem. Swedish continues heavy at 2to 1i discount,
and were it not largely held as an investment, would
show a further decline. Danish, Dutch, and Brazilian
have exhibited little alteration. Buenos Ayres, owing
to the contending factions which divide the Government,
have again receded, and may be quoted 58s. to 60s.
Peruvian scrip came out at 3 premium, subsequently
advanced to 51, and is now quoted 34 to 4 premium."
The Land Companies Sharest have been neg-
lected, and there is no disposition to invest in
them.

MANCHESTER, APRIL s.—Our market has exhibited
no change of any consequence, as compared with the
state of things at the date of our last report. ' As in
Liverpool, so in Manchester, there is a prevailing steadi-
ness at the rates which were obtainable after the excite-
ment of the earlier and middle portions of the week had
subsided.

ROCHDALE, APRIL 4.—We have had a steady demand
for goods, and the manufacturers are obtaining rather
better prices for these pieces. The low and middle
qualities of English wools are very scarce, and their
prices rather firmer. The wool dealers have very light
stocks on hand at present, and are quite out of sorts.
HALIFAX, APRIL 2.—The aspect of trade in our piece
hall is pretty much the same to-day as was noted in our
last report ; and there is no noticeable alteration in
either the yarn or the wool market. Large contracts
for yarn have been offered at the present prices, but the
spinners have declined taking them, as those prices entail
positive loss.
BIRMINGHAM, APRIL 4.—The preliminary meeting of
the South Staffordshire iron trade was held at Wolver-
hampton on Thursday last, and terminated in a declara-
tion of the following prices for the ensuing quarter,
namely, 101. per ton for bars and rods, 11/. for hoops, ,
and 121. for
of iron of 20s. per
rtiosheets,beinga nominal
ton.reduction upon
each