The Sun.
London, England, 1853-05-17 00:00:00

MONEY MARKET AND COMMERCIAL
INTELLIGENCE--(THIS DAY.)

CITY, TWO OCLOCK.
The sales of Cotton at Liverpool yesterday were
estimated at 6,000 bales, of which 2,000 American
were taken for export and on speculation. The
market closed very firmly, at previous rates. The
sales comprised 6,500 American, 280 Pernam and
Maranham, at 61d. to 61d. • 200 Bahia, at 61d. to
6/d. ; 300 Egyptian at gd. ; and 500 Surat, at
31d. to 4id. per lb. Railway Shares were rather
firmer.
The Severn steamer, from the Brazils, brings
100,000/. in specie. The letters are not yet in
town, but the accounts to the 2d April from
Buenos Ayres, state that General Urquiza was in
the town, and that he was unlikely to conclude a
treaty of peace. Whether this be true must be
determined by the letters now received. The ex-
change on London was at 665. to 665. 3d.
Scattered items of intelligence from Australia
appear in the Indian papers to as late a date as the
beginning of March ; and although the details are
necessarily imperfect, they possess interest in many
points. In the first place, the number of ships
awaiting crews was as large as ever, and although
the population arrived was in excess for the time,
many were wending their way to the other colo-
nies, and would doubtless soon be absorbed into
quieter pursuits than those of gold digging. Trade
appears to have been brisk both at Melbourne and
Sydney at the latest date. The news in one parti-
cular is by far the most important as regards the
future prospects of our Southern possessions, the
Exchange on Angland having risen to par. Under
this head we stated upwards of four months ago that
from the opinions received from parties generally
well informed in these colonies, future shipments of
gold were more likely to leave a loss than a profit.
It is to be observed that, with gold dust at 78s.
per oz. (this price had been demanded just before-
the mail left), and with bills on London at par, all
the late shipments of sovereigns must leave an
actual loss, because, if we assume the average
value of the dust at 80s. per oz. at the mint—it is
always above standard—this difference of 2s. per
oz. between the buying price in Australia and the
selling price here would not cover freight and
insurance, to say nothing of the sundry com-
missions. On the other hand, should the party
to whom the gold is consigned for sale, buy
Bills on London at par, it is obvious that the
shipper must suffer loss of the freight, insurance,
and commissions on the shipment. It is hinted
in these advices, that we may expect even sterling
Bills in the Australian port to go below par, it
being now supposed that the Colonies are out of
debt with this country. If this be the case, which we
are inclined to think correct, it is clear that such a
result must follow. Of course, the amount of the
discount will be governed by the amount of the ex-
pense that would have to be incurred in remitting
bullion from Australia here to balance the account.
We are by no means of opinion that such a state
of things could permanently last, because this
country will always have great attractions to many
who may have accumulated wealth in these
southern regions to invest such fortune—people in
that position generally being desirous of coming
" home." •
For sometime, however, parties will turn their
attention to the advisability of purchasing real
property and other securities in the land of their
adoption. The eventualities concerning which be-
come more and more difficult to prognosticate,
especially when we find it recorded in the present
files that, by the Sarah Sands is shipped one nug-
get"eqiutails
not difficult
N•alue
to 8,5001
un-
derstand why land should risen as is stated in
such fac tiS34 beforel b s ussome of the counties adjacent to the gold districts,
With weighingsu
from 4 to 500 per cent. in one month.
The conversion" progresses slowly both at the
Bank of England and the South Sea House.
English Stocks are dull again but not lower.
Consols realise 100 i to g
_for Transfer, and low. I
for the Account. The New 31- per Cents. have
been 1021 to f, and Reduced 3 per Cents. 99/ to
Exchequer Bills of June are par to 3s. premium,
and India Bonds at 255. premium. South Sea Old
Annuities are marked 99g, and the New Annui-
ties 1001.
Foreign Stocks have been steady generally, with-
out muc doing. Mexican are firmer at 27 to
Brazilian 4i per Cents. have been at 101. No-
thing has been done in Buenos Ayres. Spanish
3 per Cents. realised 48i and the New Deferred
are at 24 to The Swedish Loan is Ift to 2 dis-
count. Venezuela Bonds are worth 37 to 38.
Austrian Stock has realised 871, and Dutch 4 per
Cents. have been at 96 to 961.
The Railway Share Market has been inactive,
but there is a favourable change in prices. Mid-
land are better, and South Eastern have risen.
There is a decided advance in York and North
Midland. Foreign Shares are dull.
Joint Stock Bank Shares are very good as regal*
the established banks.
The Land Companies' Shares are firmer, and
there is a decided improvement in the Van Die-
men's Land.
The Crystal Palace Shares have touched 31 and
4 premium. The cause assigned is the increasing
applications for " Hall " room, and the rise that is
taking place in the value of the land.
The fact that a number of persons are leaving
Port Philip to settle in Van Diemen's Land and
pursue quiet occupations, has probably caused the
rise in Van Diemen's Land Shares.
The Gold Mine Shares are merely nominal.

BRITISIF FUNDS THIS DAY.
( From the Offieutl Lzet.)

_
Business done.
3 per Cent. Reduced Annuities 99,1 i
3 per Celt. Consols Annuities
New 34 per Cent. Annuities
Loag Annuities, Expire sth Jan~ 1860
Ditto 30 Years, Expire sth Jan., 1860 6l
India Bonds, £lOOO
Ditto, under £lOOO 25 p
South Sea Stock .. ..... ...... ..... ...,
.........
South Sea Old Annuities 993
South Sea New Annuities
Consols for Account Ist Juno
Exchequer Bills Ltd. June. March.
£lOOO.. .. .
£5OO par 3 p par 3 P
Small Par 3 p par, 3 p 1 d
PRICE OF FOREIGN FUNDS THIS DAY.
Brazilian Bonds, 5 per Cent. —
Ditto New, 1852, 43 per Cent lOl
Ditto New 80nd5,11829 & 39, 5 per Cent 103;
Buenos Ayres Bonds, 6 per Cent 66
Equador Bonds
Greek Bonds, Red
Mexican 3 per Cent.
Russian Bonds, 5 per Cent.
Spanish Bonds 3 per Cent 4Bi
Spanish 3 per Cent., New Deferred 24
Ditto for the Account , 24A .
Spanish Committee Cert. of Coup. not fun 6l P e
Swedish Loan li 2 dis
Venezuela Bonds, 31 per C'ent.
Dividends on the above payable in London.
Austrian Bonds 5 per Cent. Gu. 102 B7. 8 7,1 x d
Dutch Exchange, 21 per Cent. 12 Guil.
Ditto 4 per Cent. Certificates.

Consols
Ditto June Account—T

THREE O'CLOCK.
1004 B
1001 I

EXCHEQUER PILLS.

Notice has, been issued that the Exchequer bills dated
June will be renewed at the reduced rate of one penny
per day. An expectation is therefore obviously enter-
tained that the number likely to be sent in for conver-
sion into Exchequer bonds, coupled with the amounts
which may be demanded to be paid off, will create a
scarcity in the market such as to cause the remainder
to maintain a moderate premium. For the next three
months the cash balances of the Government will steadily
increase, so as to enable a considerable number of dis•
sentients to be paid off without difficulty, and, even
when these balances shall again be required for the
quarterly dividends, the Chancellor can obtain an ad-
vance from the Bank of England upon deficiency bills,
which will prevent the necessity of any appeal to the
market. Under these circumstances there seems to be
no reason to apprehend a failure of the measure, and it
is the more satisfactory that such should be the case,
since there is no positive ground to regard the present
unfavourable condition of affairs as otherwise than tem-
porary, and it would be annoying that bad terms should
be made for the next 12 months merely from its un-
toward influence for the moment.
The notice for paying eff the June Exchequer bills, or
renewing them at a penny a-day, did not transpire dur-
ing the course of business, and they remained without
fluctuation at 2s. to Cs. premium.
Subjoined is the return from the Bank of England of
the progress of the conversion of Consols and Re-
duced :

AMOUNTS OP NEW STOCKS ACCEPTED THIS DAY.
31. 10s. per Cents £17,633 19 6
21. 10s. per Cents 26,200 17 6
Exchequer Bonds 7OO 0 0
The totals applied for up to this time are 54,7081.
Three-and-a-Half per Cents., 1,219,6571. Two-and-a-
Half per Cents., and 4,200/. Exchequer Bonds.

AMSTERDAM AND ROTTERDAM.—The weekly reviews
of the Amsterdam and Rotterdam produce markets
state that business continued inactive, but that prices on
the average were supported with firmness. In sugar,
raw and refined, there had been no operations of impor-
tance. Coffee was a shade higher, from speculative pur-
chases. Little change had occurred in rice, indigo, or
spices, but tea had exhibited an advance, and importers
evinced no disposition to effect sales. The accounts
from Hamburg mention an increase of business, although
at present scarcely any effect had been produced on
prices.