The Sun.
London, England, 1854-10-05 00:00:00

THE SUN, LONDON, TRURSDAY EVENING, OCTOBER 5, 185 4.

M ARK E

SHARE MARKETS.

LINES LEASED AT FIXED RENTALS.

AND
COMALERCIAL INTELLIGENCE.

(THIS DAY.)

BRITISH RAILWAYS.

Leasing
Company.

Closing Prices
yesterday.

Business
this day.

CITY, Two o'CLOCK,

RAILWAYS.

(nosing Prices
yesterday.

Business done
this day.

The sales of cotton at Liverpool yesterday
were estimated at 10,000 bales, including 1,500
American and 1,500 Surat taken for export and
on speculation. The market closed with an up-
ward tendency—American id. and Surat 1-16 d.
against the buyer. Other sorts without alteration.
The sales comprised 6,500 American, 120 Pernam
and Maranham at Sid. to 61d., 100 Bahia at 6gd.
to 9d., 600 Egyptian at sid. to aid., and 2,500
Surat at 3d. to 4id. per lb. Railway Shares were
quiet.

The Commercial Daily List gives the following :
" The late charge of 2d. per cwt. on the export of all
goods by water by the various dock companies, we are
happy to hear, is withdrawn. The following letter on
the subject has been received by Messrs. J. Cook and
Company :

_
" London Dock House, Oct. 3.
"My dear Sir,—lt is agreed to abandon the charge
for delivery by water, of which official notice will be
given iu a day or two.—Yours faithfully,
"'J. D. Powiats.
"'James Cook, Esq.'

It is never an agreeable office to dwell upon
commercial difficulties or to foreshadow monetary
tightness and restriction, but one cannot, as a
matter of public duty, avoid reference to circum-
stances that may arise as well as to those that
are occurring. It has been evident to those
who watch the state of the produce markets,
for example, that there was a loss as between
the values paid in India and England, and that
either] the consigners or the consignees must
be affected thereby. In the unsatisfactory
mode of doing business before the crisis which oc-
curred a few years since, the long credits fostered,
nay compelled, a constant purchase of staples in
India at whatever price was asked, and, as a ne-
cessary result, the shipment of manufactures from
this side, however great the glut at Calcutta or
Bombay. The explanation of this apparent
anomaly, this reckless desire to trade in the
face of a loss on both sides of the account,
was simply that a large amount of long
dated bills bad to be kept afloat, that these
bills in order to be discountable must repre-
sent something, and that there was always a vague
hope that some lucky change in the markets would
bring large profits, and enable the losing firm to
recover its position. Nor was this such an unrea-
sonable expectation when we know that prices have
fallen or risen 20 and 30 per cent. within a few
months. The cause of the suspensions which are
now occurring in the provinces are various,
but the altered state of the Australian business,
and the war are the primary agents, while the
failure of the American maize crop, and even the
abundant harvest in England, will prove accesso-
ries, because they derange previous calculations.
Mr. Edward Oliver, who has stopped payment at
Liverpool, with liabilities estimated at 700,0001.,
is a large shipowner, and his property having, it
is said, been materially increased by purchases
made while ships were very dear, there
is a loss owing to the present depreciation.
The fall in freights from the extravagant
scale of January and March, 1853, is hardly a fair
criterion, but the effect of that rise was to enhance
the selling price of ships, and since then the re-
action is about 30 per cent. The other suspension
reported, that of Messrs. James 4Plienry and Co.,
is due to the disturbance of the provision trade,
chiefly as connected with America, and the amount,
it is feared, will be rather heavy. As to the Man-
chester business, it is asserted that the recent
failures must not be taken in any way as an
indication of general unsoundness, since, as is
alleged, in no town are cash payments more the
rule than at Manchester. For our own part
we will not conceal our opinion that many more
stoppages will occur ; but generally the assets will
be better than was the case when such extensive
ruin fell upon the commercial world about 6 years
ago.

At the moment of our writing we hear very un-
pleasant rumours affecting the credit of another
important house at Liverpool, but we refrain from
further allusion, being solicitous not to aggravate
the uneasy feeling which prevails.
There continues extreme heaviness in Public
Securities, and the supply of money stock is in ex-
cess of the present demand. A revival of pur-
chases would, however, soon absorb all that is
offering. The absence of any confirmation of the
fall of Sebastopol, and the mercantile failures caus-
ing more demand for money, stimulate a few sales,
and there is no counter speculation to sustain the
market. In fact, there has rarely been less time bucci-
ness doing. Consols have realised 94i to 95i for
Transfer, and 95/ 1 for Account. Exchequer Bills
are ss. to Bs, premium.

The Foreign Securities have been neglected.
The Spanish Committee's Certificate is fik to
and the 3 per Cants. have been at 38. Mexican
Bonds are worth 25. Brazilian small stock is at
99 ex dividend. The Turkish Scrip has sunk to
31 and 3 premium. _ _

The following are the nominal prices of foreign
stocks :—Grenada Deferred Bonds, 51 to 6k ;
Mexican, 24 to 25k ; Peruvian, 72 to 74 ; ditto
3 per Cents., 52 to 54 ; Portuguese 4 per Cents.,
40 to 42 ; Russian 5 per Cents., 96 to 98 ; ditto
44 per Cents., 86 to 88 ; Spanish New Deferred,
182- to 181,- ; ditto 3 per Cents., 37/ to 38; ; ditto
Certificates, 51 to 5i ; ditto Passive, 4i to 42-.
The last week's railway receipts ascertained up
to this day are in round figures as under :

Great Western
North-Western ...
South-Western

1854.
£24,617
58,283
14,494

1853.
£23,814
55,273
13,975

Brighton .
Midland .

16,818
28,554

14,236
27,256

South-Eastern..

20,181

20,173

Caledonian

11,982

11,382

Great Northern. 21,524 18,299
Lancashire and Yorkshire
The Railway Share Market has been rather
heavy again, but with no pressure of sales. The
foreign lines are nominally without change.
In the Mining Shares there have been but a few
bargains, and eopiapo are dearer.
The Joint Stock Banks are in some request.
Crystal Palace remain firm.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)
Bu.iness done.
3 per Cent. Consols Annuities 95 4 4 51 it
Consols for Account 17th Oct.
Exchequer Bills, 24d.
£lOOO -04 8 5 p
2500 8 5 p
Small 8 5 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.

Brazilian Bonds, 5 per Cent —
Ditto Small
Danish Bonds, 1825, 3 per Cent —
Ditto 5 per Cent
Mexican 3 per Cent.
Ditto for the Account '2s
Spanish Bonds, 3 per Cent 3B
Spanish committee Cert. of Coup, not fun 53 i p 0
Turkish Scrip
Ditto for the Account 3
Dividends on the above payable in London.
HALF-PAST TWO.
Consols
Ditto October Account

A GREAT MAN'S PREFERENCE.—I envy no quality of
mind or intellect in others—no genius, power, wit, or
fancy ; but if I could choose what would be most de-
lightful, and I believe most useful to me, I should pre-
fer a firm religious belief to every other blessing, for it
makes life a discipline of goodness, creates new hope
when all earthly hopes vanish, and throws over the de-
cay, the destruction of existence, the most gorgeous of
all lights ; awakens life even in death, and from corrup-
tion and decay calls up beauty and divinity ; makes an
instrument of torture and shame the ladder of ascent to
paradise ; and far above all combination of earthly hopes,
calls up the most delightful visions, palms, and ama-
ranths, the gardens of the blessed, the security of ever-
lasting joys, where the sensualist and sceptic views only
gloom, decay, and annihilation.--Sir H. Davy.
AN OLD Boos.—The oldest book in the United
States, it is said, is a manuscript Bible in the possession
of Dr. Wotherspeon, of Alabama, written above a
thousand years ago ! The book is strongly bound in
boards of old English oak, and with thongs, by which
the leaves are also well bound together. The leaves
are entirely made of parchment of a very superior
quality, of fineness and smoothness little inferior to the
best satin. The pages are all ruled with great accuracy,
and written with great uniformity and beauty in the old
German text hand, and divided into chapters and verses.
The first chapter of every book in the Bible is written
with a large capital of inimitable beauty and splendidly
illuminated with red, blue, and black inks, still in vivid
colours ; and no two of the capital letters in the book
are precisely alike,

BANKRUPTCY COURT.-(THIS DAY.)

(Before Mr. Commissioner Evans.)
IN BE MACKENZIE, CAMERON, AND BOYLE.

These bankrupts were described as of Levant House,
St. Helen's-pla.ce, Bishopsgate, merchants, and applied
for their certificates.

Arguments were heard at great length yesterday, and
evidence taken with respect to an opposition, and ulti-
mately the case was adjourned till ten o'clock this morn-
ing, when another lengthened examination took place.
It is not likely that it will be completed to-day as there
were other cases on the list.

The -debts are stated at 30,0001., and only slender
hopes entertained of a dividend.

THE REGISTRATIONS.

WEST SURREY.
Archer Ryland, RN., the Revising Barrister, held his
court at the King's Arms Hotel, Godalming, on Satur-
day last. Mr. G. E. Dennes and Mr. J. Wells, solici-
tors, of London, attended for the Reformers ; and
Messrs. King and Parsons for the Tories.
GODALMING.:--In this parish there were 25 objections
by the Tories, principally against the allottees of the
National Freehold Land Society, who have an estate at
Farncomb, and for whom Mr. G. E. Deunes was re-
tained to defend their votes.

On the first objection being called on, Mr. Dennes ob-
jected to the notices of objection, on the ground that the
objector, at the time he signed his name, did not put his
place of residence. Mr. King not being, able to prove
the same, the whole of the objections failed.
The vote of the Rev. S. E. Lyon, the incumbent of
St. John's Church, Farnham, was objected to by the
Liberals. He produced a deed to show that be was the
perpetual curate, the rent for the pews alone was 3/. 12e.
for the last quarter. Mr. Dennes contended that suffi-
cient had not been shown to retain the vote. The re-
vising barrister said that Mr. Lyon was neither rector
or vicar, it was a nice point, but as he had some doubt
he should allow the vote. The case ought, however, to be
looked into, and the vote again might be objected to at
the next registration.
At the conclusion of the revision Mr. King, on the
part of the Tories, asked for a case for the opinion of
the Court of Common Pleas against the decision of the
revising barrister, with reference to the informality of
the notices in the case above-mentioned, but which he
would not for a moment entertain, having on previous
occasions decided the same question.