The Sun.
London, England, 1854-08-23 00:00:00

AI ON E M A. RKET

ANP
COMMERCIAL INT ELLIGENCE.

CITY, TWO o'CLOCK

The sales of cotton at Liverpool yesterday were
estimated at 4,000 bales, including 500 American
taken for export. The market again closed heavily,
with but very little change in prices. The sales
comprised 80 Pernam and Maranham, at .bid. to
; SO Bahia, at 60.; 150 Egyptian, at std. to
Bd.; 500 Surat, at 3d. to 41d.; and the remain-
der American. Railway Shares were steady.
, The Foreign Exchanges yesterday afternoon ex-
bilked some slight symptom of weakness for three
! mouths' bills. Paris, however, remained unaltered,
being 25, 27i to 30. Antwerp. 25, 25 to 30. Am-
sterdam, 11, 171 to 17i; Hamburg, 13, 61 to 6i ;
Frankfort, 118 to 119 ; and Trieste, 11, 52 to 56.
There has been a slight demand for gold to be
shipped to the Continent, and, with the exception
of the fine gold from- America,. which has been
melted and sent into the Bank of England, all
available parcels have been taken. Bar gold is
775. 9d. per oz. standard, and bar silver ss. lid.
per oz.
From Brussels yesterday, under the head of
various important tours in the interior, it is stated
the markets continued to be well provisioned with
considerable quantities of the new wheat and other
grain. Active purchases at Courtray had improved
the quotations, both for wheat and oats, two francs
per hectolitre. At Grammont, on tie contrary,
with very plentiful supplies, prices were lower. At
and Louvain again prices had realised an
advance of about one franc.

The suspension of M. Henri Von Wertheimstein,
" one of our great houses of commerce," says the
advice from Vienna, suspended payment in that
capital on Monday last. The fact transpired here
late yesterday, but must have been known to lead-
ing mercantile houses connected with Vienna on the
day of its occurrence, probably through the electric
telegraph. No particulars of the extent of the lia-
bilities involved are as yet known. Two other
great failures were also spoken of, but apparently
as connected with Stock Exchange speculations.
The stoppage of Messrs. Morpurgo and Co.,
general commission merchants, chiefly in the
Italian trade, became known yesterday: on 'Change.
The house bad, it is stated, been concerned in ex-
tensive grain speculations in connection with
Galatz and Alexandria.

The Stock Market has been remarkably quiet
all morning, which indeed may be readily accounted
for, not only by the absence ut any existing intelli-
gence, but by the thin attendance of jobbers and.
speculators, whose operations are the animating
cause of all business and fluctuations other than
what might more gradually grow out of the less
massy but more regular every-day business of
money purchases by the public for bona fide in-
vestment, or sales for the realisation of funds
wanted forcommercial or other purposes. Brighton,
Paris, and the Rhine, are now probably among the
temporary quarters where many of the more stirring
spirits of the Stock Exchange are seeking repose,
or recreation, or both.
The .quotations of public securities, in conse-
quence are not quite so well supported, but still the
variation of ls. Bd. can scarcely be called a de-
cline. Consuls are called 931 to 4 for transfer,
and 94 to for time, with sluggish business.
Threes Reduced 93.1 to 31 pe;Cents. 941 to
I. Long Annuities (1860) aro done at 4 11-16ths
and 4i. Bank Stock at 2081 and 210. India
Bonds 2s. to ss. premium. Exchequer Bills ls.
discount to 3s. premium. Exchequer Bonds, 1859,
98k.
Foreign Stocks are quiet. Brazilian Small
Bonds are 1001 to 101. Russian 5 per Cents. are
weaker, being 99. Sardinian have risen to 87 and
87k. Spanish 3 per Cents. are 371 to 38, and the
New Deferred firmer at 17i to 18i. Dutch 4 per
Cents. are at 931. The Turkrsh Loan Scrip has
been dealt in at 6i to 7* premium.
The controversy between the Proprietors of the
Ottoman Bank and the Agents, or, asthey now pub-
lish themselves, the Contractors of the Turkish
Loan, would seem to be fir from terminated, as
will be seen below from the letter of Mr. Stanley,
representing the Bank. It is in flat contradiction
of the assertions put forth in the letter recently
pblished and signed by M. Musurus, the Turkish
Envoy. No observations need for the present to
be made on the subject matter of dispute, respect-
ing the facts of which we can hardly fail to be fur-
ther
enlightened in its progress. It may be stated,
however, that according to accredited advices the
loan hangs fire in Paris, and on the Bourse its ex-
istence seems to remain unrecognised. It is re-
marked, also, that no sign of recognition or appro-
val similar to that stated of Lord Clarendon, has
yet issued from M. Drouyn de l'Huys, the French
Minister for Foreign Affairs, kalthough in the
programme of the loan issued by the re-
spectable agents here, the act of that Minis-
ter's adhesion and approval was very dis-
tinctly notified and assured as forthcoming.
The publication of the Sultan's firmans at once
would do much to settle this vexed question. In ,
the meantime, it is to he hoped that the present is
not destined to conclude in a catastrophe like that
of the last war, in which the dealers and holders
were so unluckily shorn of their paid premiums.

- -
THE TURKISH LOAN.
TO THE EDITOR, OF THE SUN.

"SIR.—My attention has just been called to the letter
published in your journal of the 21st instant, and signed
by `M. Musurus, the Ambassador of the Sublime Porte,
in London.'
" The letter states that Messrs. Trnuve-Chauvel and
Stanley question the right of any one to apply any por-
tion of the Egyptian Tributes, as guarantee for the new
Turkish Loan, alleging that those tributes are already
made over in favour of the proposed Bank of Constanti-
nople.
Ih farther adds that the Embassy of the Sublime Porte
in London gives the most formal denial to this unjustifi-
able assertion ; and whilst acknowledging that a contract
was passed between the Subline Porte and certain bankers
at Constantinople, asserts that they (the bankers) have
since obtained the cancelling of the contract, and that con-
sequently all engagements on both sides are null anti void.
I am compelled, air, in reply to state—first, that the
contract passed between the Sublime Porte and the
bankers alluded to was, with the sanction of his Imperial
Majesty the Sultan, transferred by a sub-contract duly
certified to M. Trouve-Chauvel and myself, under the firm
of E. R. Stanley and Co., and that in the contract the
tributes of Egypt were transferred to the bank ; secondly,
that there never has been any sttempt made by the
bankers to obtain the cancelling of such contract, nor of
any part of it, and that, so far as I know, there has never
been any desire on the part of the Ottoman Government
to disengage itself or relieve us from engagements which
are'rnutually binding.
All the documents relating to this Question are now
deposited in the has !s of the legal authorities in Paris,
and are consequently open to public inspection—every do-
cument bears the necessary signature of the official ap-
pointed by H.I.M. the Sultan, countersigned and attested
by the French and British Consular authorities—and as it
is upon these documents alone that we found our claim, so
it will be from the same source alone that th..) proposed
subscribers to the loan can ascertain how far their preten-
sions can he upheld in so far as regards the tributes bf
.Egypt.—Yonrs, &c. E. H. STANLEY.
Craven Hotel, Aug. 22, 1854.

The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bonds 6 to 6i, Mexi-
can 241 to 241, Peruvian 71 to 73, ditto 3 per
Cents. 52 to 54, Portuguese 4 per Cents 40 to 42,
Russian 5 per Cents. 99 to 101, ditto 4i per Cents.
85 to 87, Spanish New Deferred 17i to 18k, ditto
3 per Cents. 37 to 38, ditto Certificates 4/ to 51,
ditto Passive 31 to 4.
A very liinited business is doing in Railway
Shares to-day, and quotations are heavy. The
Foreign Lines are nominally without variation.
Mining, Banking, and Land Shares are without
particular change, but the transactions are unira-
port aut.

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
(Prom the Oficial List. )

Pusinoiiii
nank Stock ......... 208; 10
* j * per cent. Reduced Annuities 94 3 4
l per Cent. Consuls Annuities 94 3i 1
/1 $
3/ per Cent. Annuities
e
tuDitttO A:-IolomYYaeleatainsir.s.:, Expire
EF:xxpl ir• 10th
55 J')ati, Oct.,un.. 111888665009
229 444
717-1-11. 6166
India St ,ek
India tionds, I:1000
Consols for Account 13th Sept.
Exchequer Bills, 2*d.
£1000
£5OO 1 dis
Small
Exchequer Bonds Scrip, 1858
Ditto 1859 ...........
PRICE OF FOR6IGN FUNDS THIS DAY.
Brazilian Bonds, 5 per Cent.
Ditto Small
Peruvian Bonds, 41 per Cent.
Russian Bonds, I p 22, S per Cent. £ St„ 99
Fardinian Bonds, 5 per Cent ........ .
Spanish Rends, 3 per Cent 374 8 7
Spa.nish New Deferred, 3 per Cent ......... 18#
Turkish Scrip .................................... 7 1
Dividends on the above payable in London,
Dutch Exchange, 24 per Cent. 12 Guil .....
Ditto 4 per Cent.
...... 93* 4
THREE O'CLOCK.
Console
93i 4
Ditto September Avonnt

_JANDLORDS AND WAITERS,—As a rule, it is a good
plan 'never to negotiate with the waiter about an Over-
charge or,an inconvenience, but always with the landlord
, person, and if possible when nobody el e is present.
Always pay up your bill, too, some hours before you
start, or you will find half a score of complaints, per-
haps, to make, and nobody to hear-them. Mine host
nearly always takes care..to he out of the way after send-
ing in al exitrbitAtit ►gill to a depa-ting guest, and out of
the was' he will remain till you are sateiy off, u and
nobody else can help you. Mune host is., indeed, a; full
of tri,ke as a pantomime, especially if an Italian; so that,
it is better always toloop a tight hand on bim,—The
giving lingiiilintan.