The Sun.
London, England, 1853-09-13 00:00:00

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday
were estimated at 5,000 bales, of which 1,000 Ame-
rican were taken for export. The market closed
heavily, without change in prices. The sales com-
prised 4,000 American, 90 Pernam and Maranham,
at 61d. to 8/d. ; 40 Bahia, at 6id. ; 200 Egyptian,
at 6d. to 71d. ; and 400 Surat, at 3id. to qd.
per lb. Railway shares were very depressed, and
prices of all kinds had declined considerably.
Numerous vessels, probably 400 sail, have passed
the Straits of Gibraltar, from east to west, during
the 31st August and the Ist September, with grain,
fruit, drc.
The Marco Polo has arrived from Melbourne,
whence she sailed on the Bth June. She brings
54,201 ounces of gold. There are one or two other
vessels reported, but the amounts are not yet
known.

There is in operation at the present moment
that most inexplicable but frequent social pheno-
menon—a panic. Holders of securities are, without
rhyme or reason, sacrificing their property to the
advantage of those who have nerve and capital,
and dispassionately on, neither
a
looking
vould feeliastonished at that
buyera ny
nor one
seller,
" madness of the many" which is the " gain of the
few." In such periods it is most difficult to get
any one to listen to the slightest argument that
might prove consolatory; but at the risk of being
unheeded, and in discharge of that wholesome
function which the press should at all times exer-
cise, we must at least chronicle facts. The sup-
plies of foreign grain are becoming exceedingly
large, and there is not the remotest chance of
famine prices for food. The United States are, for
the manufactures sent, greatly indebted to Eng-
land, and will be too glad to discharge the liability
in grain, of which they have abundant crops.
Canada has been shipping extensively, and her in-
creasing population causes her to buy of us
more liberally. In fact, a mere glance at the official
returns of the Board of Trade must convince the
most sceptical that the balance is greatly in our
favour ; in the aggregate, however, it may be
against us as regards particular countries. For India
and China silver is, temporarily at least, in less
demand, and the Burmese war being over the
drain may be alleviated. The amount already
sent to China must be already so large that
it is difficult to understand that much more
can be sent, or what we are to get in return.
The rate of exchange renders it no longer profitable
to send gold to Paris, and if the demand for silver
were to cease, gold would not require to be sent
hence in purchase thereof. As to the 400,0001.,
said to have been taken for shipment to Russia, we
believe it was withdrawn last week, and an eminent
firm has sent in, it is rumoured, 100,0001.
to the Bank of England. There remains, then,
the Australian remittances to Europe, and these
must, for the next two or three months, be large,
whatever they may be hereafter. As to sending
gold to Australia to purchase the precious metal,
there is no longer any idea of it. Upon such data
parties may form their own conclusions, but severe
pressure for money or famine prices for food we do
not deduce therefrom.

The English Market opened heavily in the
morning at a further decline, but since then there
has been a partial rally. Consols have been at
95a to 96 for Transfer, and at 951 to 96-1-3- for Ac-
count. Exchequer Bills have been at 2s. to 3s.
discount, and India Bonds at 2s. to ss. premium.
The Transfer books being shut, there is very little
doing except in Consols, and parties in want of
money sell these as their only alternative. A bet-
ter view is taken of Eastern affairs, and it is
thought the supplies of grain will be exceedingly
large. _ _

Foreign Securities have been very fluctuating,
and they keep up well, not having been previously
at unduly high prices. Mexican Bonds have been
241 to 25a ; Buenos Ayres Stock is at 64; Chili an
Bonds have realised 104 to 105 ; Russian Bonds
have improved to 115 ex div. ; Spanish Three per
Cents, have been at 46i to 461; and the Deferred
at 221 to 221 ; Dutch Two-and-a-Half per Cents.
have been at 63/ to 64k.
Railway Shares have been about 2 per cent.
lower, and in some instances more, as the Lanca-
shire Banks are stated to be compelling the repay-
ment of loans upon them. This should not affect
the real holder, if he has not pawned them.
French Shares have been lower.

Gold Mines are maintained still tolerably well,
but the Land Companies are heavy. Joint-stock
Banks are neglected.

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

Business done.
S per Cent. Consols Annuities 96 5g a 46 5i ;
India Bonds, £lOOO .......... ..... 3 5 2
Ditto, under £lOOO 2 5
Consols for Account 13th October
Exchequer Bills, ld.
£IOOO

PRICE OF FOREIGN FUNDS THIS DAY.
Buenos Ayres Bonds, 6 per Cent... 64 5
Chilian Bonds, 6 per Cent........ ........• 104 5
Mexican 3 per Cent.
25 4 5
Peruvian Bonds, 4i per Cent. 77 x d
Russian Bonds, 5 per Cent.
Ditto 4i per Cent.
Sardinian Bonds, 5 per Cent 94
Spanish Bonds, 3 per Cent 46i
Spanish New Deferred, 3 per Cent. 22A B a
Spanish Committee Cert. of Coup. not fun. 5i p e

Dividends on the above payable in London.
Ditch Exchange, 21 per Cent.
Ditto 4 per Cent. Certificates .. .. _ 9B i

Consols
Ditto October Account ,

TERSE O'CLOCK.
95i 6
96i

MARKET NEWS-(THIS DAY.)

COLONIAL.

SUGAIL—The market has been very firm. Floating car-
goes of Havana and Brazilian have been in good demand at
previous rates. Refined brown lumps are 45s 6d and low
to fine grocery 46s to 48s 6d per cwt. The quantity of
British Plantation landed last week at the East and West
India Docks was 1,964 hhds 243 tierces 525 barrels, there
were taken for home consumption 1,439 hhds 223 tierces
474 barrels. The stock in the same places is 11,325 hhds
1,714 tierces 3,787 barrels.
COFFEE.—Native Ceylon has been firm with a fair
business doing at 48s to 48s 6d per cwt. Plantation has
been also in request.
Rum.—The quantity landed last week at the East and
West India Docks was 619 puns 39 hhds ; there were taken
for home consumption 208 puns, and exported 138 puns
127 hhds. The stock in the same places is 8,043 puns 376
hhds.

RlCE.—Madras, 2,993 bags, at auction, was all taken in
at lls to lls 6d per cwt.
TALLOW.—P.Y.C. 538 per cwt on the spot and Town
54s 3d. There is an active demand.