The Sun.
London, England, 1853-01-06 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, Two o'CLocK.

The sales of cotton at Liverpool yesterday were
estimated at 6,000 bales, of which 1,000 American
were taken for export and on speculation. The
market closed firmly. The sales comprised 5,000
American, 450 Egyptian, at 6d. to 911, and 400
Surat, at 3d. to 4-id. per lb. In Railway Shares
a good business was done, at steady prices.
The six weeks' average price of wheat is 435. 4d.
per cwt., and the last week's 465. 7d. The week's
sales were 102,845 qrs.

The merchants connected with the Azores and
Lisbon orange trade having come to the determina-
tion of assimilating the terms of selling to those
adopted in London, the alteration commenced on
the Ist instant•

The quarterly and yearly statement of the
revenue is considered highly encouraging. An
increase of 702,7761: on the three and of nearly
a million on the twelve months,. could not be other-
wise regarded. The surplus on the quarter is
474,918/, over the expenditure, or for the year to
the sth January, 4,915,0781. There will conse-
quently be again a fair amount available for the
Sinking Fund, notwithstanding alterations in the
duties, the Kafir war, and other drawbacks.
The Bank of England Directors, at their 4‘ par_
lor " meeting, this morning, came to the determi-
nation to advance the minimum rate of discount
from 2to 2k per cent. The policy of such a mea-
sure has been canvassed for some days, and as far
as the value of money is concerned, it was gene-
rally admitted, in the best informed quarters, that
there was no ground for an advance, at
least until the effect of the dividend pay-
ments was seen. In all probability, they
would have caused money to be more plentiful, if
not cheaper ; but it is precisely on this ground we
believe, that the Bank of England 'has raised its
terms ; the great number of new schemes that
were about to be broached being likely to receive
an impetus from the dividends. The question
arises,
however can the Bank keep up its charge, if
bullion pours in from Australia and California ?
We think there can be no hesitation as to the reply,
and further, that frequent alterations should be
•
studiously avoided.
The Funds have suffered by the above circum-
stance, though not to the extent they would have
done if speculators, anticipating something of the
kind, had not previously operated. In this way we
account for a fact noticed a short time back under
this head, of a certain per tentage having been
given for the " put" of a large amount of Consols.
The next Bank return is expected to show a falling
off of about 200,000/. in the bullion. The value of
Consols' this morning has been 100 k to Ex-
chequer Bills are 70s. to 735. premium. Bank
Stock keeps up at 223 k to 224 k. The New 34. per
Cents. have realised 1041 to k.
Foreign Securities are affected to a minor extent
by the re-action in Consols. Spanish Deferred
bring 231, and Portuguese 4 per Cents. 39k. Mexi-
can are 23k to 1. The Turkish Loan is as low as k
premium. Dutch and other Stocks are much the
same.

The Chartered Australian Land, Mining, Im-
porting, and Refining Company has introduced its
shares upon the market, and a royal charter is to
be applied for, and Mr. C. Watt's patent for
reducing the ore is adopted. By this plan amalga-
mation is entirely superseded, the great expense of
quicksilver being totally avoided; and yet every
particle of gold or silver is extracted at a compara-
tively small expense. Mr. C. Watt has also a
patent for refining gold and silver in the most ex-
peditious and least expensive mode hitherto known.
It has been deemed expedient previously to the
application for and grant of a royal charter for se-
curing certain privileges, and for limiting the lia-
bility of each shareholder, to arrange for the pur-
chase of an estate in the country where it is pro-
posed to commence operations. Accordingly, after
a protracted negotiation, an agreement has been
concluded for the purchase; in a well-known auri-
ferous district, of a large freehold estate, situate in
the county of Argyle. On one side of it there is a
long range of rocks, capped with quartz, and in the
valley beneath a rapid stream flows into the lower
levels, presenting all the features of an immense
accumulation of gold. These lower levels are oc-
casionally overflowed, and large alluvial hollows
have been formed, where, in obedience to the gra-
vity of the quartose matters and the force of the
impelling torrents, the precious metals are deposit-
-4RI in the sand or mud. A first-rate proprietory is
stated to have been secured, and very sanguine
'expectations of large returns are entertained.

The last week's Railway receipts, ascertained up
to this day, are in round figures as under :

Great Western
North Western
South Western
Brighton
3Vliclland
South Eastern
North Stafford
Caledonian
Great Northern
Lancashire and Yorkshire
York and North Midland
Newcastle and Berwick

1853. 1852.
... 13,884 13,868
... 45,928 40,247
... 9,851 8,403
... 9,971 8,094
. . 23,642 20,048
.. 15,076 12,654
... 5,502 4,571
... 9,174 7,798
... 15,527 10,080
... 17,818 16,299
7,613 6,605
... 14,093 13,036

The Railway Share market is down about 1 per
cent., although speculation certainly has no need.
to be checked in them, and like most sound under-
takings
.they will ultimately benefit, the fewer new
companies are brought out. The Gold Mines are
all in favor of buyers, and also the Land Com!
as the list will show, bnt no serious decline
panies,
has occurred.

BRITISH FUNDS AT ONE O'CLOCK THIS DAY
(From the Official List.)

Business cone.
Bank Stock
3 per Cent. Reduced Annuities.. .....
3 per Cent. Consols Annuities
New 3 per Cent. Annuities........
Long Annuities, Expire sth Jan., 1860
Ditto 30 Years, Expire sth Jan., 1860 6
India Bonds, £l.OOO B3
South Sea New Annuities
Consols for Opening 18th January
Exchequer Bills lid. March.
£lOOO 7O 3
£5OO 7O 3
Small 7O 3
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK
Brazilian Bonds, 5 per Cent.
Ditto New, 1852, 4i per Cent 99 8.
Grenada Bonds, Deferred,
Mexican 3 per Cent 23A
Ditto for the Account ,
Portuguese 4 per Cent.
Russian Bonds, 5 per Cent.
Sardinian Bonds, 5 per Cent. ...........
Spanish Bonds, 3 per Cent
Ditto New Deferred, 3 per Cent 23
Spanish Passive (Converted) 5
Spanish Committee Cert. of Coup. not fun 41
Turkish Loan, 6 per Cent., 1852 . 2
Dutch Exchange 2i per Cent l3
67n z„
Ditto 4 per Cent. Certificates 99,1 -
HALP-PAST TWO.
1001 i

June.

Consols

MARKET NEWS-(THIS DAY.)

GENERAL AVERAGE PRICES of mu
of the
TISII CORN
For the Week ended Jan. 6, 1853, made up from theaineidttirna
Inspectors in the different Cities and Towns In Lagi
BI 135 s 0.1
I 3;:As6d
per Imperial Quarter. and ,o, ales.
I imperil Quarter.
I OATS. I BYE.
'• 1 463 7d 295 8d 18s 9d I 293 7d
DUTIES ON FOREIGN CORN. I
WHEAT. I BARLEY. I OATS. I RYE. BEANS. PEAS
IS Od le Od Is Od lIsOdI Is od Is 0:,
QUANTITIES OF GRAIN SOLD LAST WEER.
Oats, 24,706; Rye, 66 ; Beats,
Wheat, 102,843 ; Barley, 94 642
5.889; Peas, 2,958 quarters.

HAY MARKETS.
SurnlFlELD.—Meadow hay, 2/ 15s to 4/ 4s ; clover
ditto, 3/ 15s to 5/ Os ; and straw, 1/ 6s to 1/ us per load.
A moderate supply, and a steady demand.
CIIMBERLAND.—Meadow hay, 2/ 15s to 4/ 4s ; clover
ditto, 3/ 15s to 4/ 18s ; and straw, 1/ 6s to 1/ 13s per load.
Trade steady, at full prices.
WHITtCHAPEL. —Meadow hay, 2/ 15s to 4/ Os ; clover
ditto, 3/ 15s to 5/ Os ; and straw, 1/ 5s to 1/ 12s per load.
Supply good, and trade rather dull.