The Sun.
London, England, 1854-06-07 00:00:00

MONEY MARKET

AN!
COAI.IIEBUIAL INTELLIGENCE.

CITY, TWO o'CLOCK.
The sales of cotton at Liverpool yesterday were
estimated at 10,000 bales, including 2,000 Ame-
rican and 500 Surat taken for export and on specu-
lation. The market closed with an upward ten-
dency. Compared with Friday's rates prices of
American were id. to id., and Surat id. per lb.
dearer, and other sorts but little changed. The
sales comprised 50 Pernam and Maranham at 61d.
to 6d. ; 1,500 Surat at 3d. to 4id., and the re-
mainder nearly all American. Railway shares
were dull at rather lower prices.
The Iron Market is dull ; Scotch pigs at fully
2s. decline, and mixed Nos. at 89s. cash, and 90s.
one month.
The amount of tea upon which duty was paid in
the United Kingdom during the year ending the
sth of May last, was 21,451,0101b5. against
14,270,6271b5. in the corresponding period to May
1853.

The Directors of the Chartered Bank of Asia are
advertising that they will hold a meeting on the
12th instant, and forfeit those shares for which the
deed is not ere then signed.
The Australasian Gold Mining Company is to
close its books on the 20th instant, after which the
calculation and division of assets will be made for
winding up.
As there is likely to be a good deal of misappre-
hension upon the subject of the new and barefaced
attempt on the part of the Peruvian Government
to foist upon the London market the home bonds
clandestinely converted into Foreign Debt, it is
most important that all parties interested should
at once be made acquainted with the real facts of
the case, for we perceive that even one or
two of our contemporaries have fallen into
error upon this subject, and that unless
the matter is put in its right light, the consequences
may even be serious, as encouraging the tottering
authorities at Lima to persevere in their dishonest
course. Into the history of this juggle it is not
necessary- now to enter at any length. Every one
who holds the stock has been made acquainted,
through the medium of the statements at the
public meeting, with the fact that, when the
former President left office, the total amount
recognised as being due to parties whose property
had been injured during the War of Independence,
or who had claims for supplies furnished, was com-
paratively insignificant. No sooner, however, did
the present ruler come into power, than he was
beset by a parcel of Court favourites and place-
holders, and by them induced to recognise a host
of applications, which saddled the country with an
enormous amount in proportion to its legitimate lia-
bilities. To render the scheme, however, immediately
productive in the only sense desired by these ad-
venturers, it was necessary to enlist the co-opera-
tion of parties in England, who could, it was hoped,
assist in getting the bonds, when converted into
foreign debt, introduced into the London market,
and quoted officially. The terms of the contract
were so tempting, that there was not much difficulty
it, securing this object. Certain bonds were lodged
in the treasury at Lima, being bought up for a
mere song, and the new security was given in ex-
change. Fortunately, persons who had resided in
Peru, and had a large stake in the loans fairly con-
tracted here, were kept well informed by their
correspondents, and an agitation being got up
here, a committee was formed, and the Stock Ex-
change, greatly to its credit, has refused to sanction
the additional debt. This places all the persons con-
cerned therein in a very unenviable position, and
with a view to their relief the Government at Lima
now steps forward. Owing to the increasing rate of
freight, the price of guano has been raised, and the
proceeds of this extra price, which it is therefore
evident must exceed the additional charge for
freight, are to be appropriated to a sinking
fund. Now conies the bait. If the holders of
the original debt will consent to the quo-
tation of the new stock, they are, as a matter
of favour, to participate in the additional sinking
fund. There is, consequently, a bribe and a
threat held out simultaneously. But, worse than
this, the grossest misrepresentation is employed in
the official document, inasmuch as it is made
to appear that some small knot of discontented
Persons have opposed the new bonds, whereas
it is notorious that a large public meeting
of the creditors was held, at which reso-
lutions were unanimously passed, in the face of
the most strenuous opposition and the most alluring
Misrepresentations, against the recogniti of the
bonds ; and that a committee was formedon to watch
over the interests of the original holders. Does
any rational person believe that when this
ecom-
mittee,rer loyally assisted by Earl Clarendon, has
y
Prospect of wresting from the Peru-
vian Government amp]e and equitable con-
ditions, they would recommend their constituents
to accept the contemptible promise that is now
Proffered, when, instead of this paltry half of an
indefinite sum, what the bondholders claim and
expect is the entire proceeds of the guano sent to
England The authorities at Lima will then have
quite sufficient from the quantity sent to other
countries wherewith to meet all legitimate ex-
Pens,.s, although they may be shorn of the
means of reward to their favourites. Happily,
General Castilla is gaining ground, and in all pro-
bability will overthrow his opponents, and should
he then be elected president, as from his great
Popularity there is not the slightest doubt he will
be, we shall see nearly the whole of this improvi-
dently created home debt modified, and perhaps
even annulled, and thus the last effort of the losing
Party would only remain as a memento of -
heir weakness and simplicity, for the com-
mittee here can scarcely be so uninformed as
not to see through the whole affair. Let us not
hear another word, therefore, of compromise or
_2o,equiescence, for we are satisfied that neither is in-
tended. The committee will make in a few days 17,
a special report of all that they have done. To- 20'
korrow, as we hear, there will be a document 20
Published by the parties interested in the home 20
n d
bonds, intended to show that Congress has latterly 20
sanctioned them; but let the Stock Exchange beware. 20
The payment of differences arising out of the 25
has
account which was closed yesterday, 100
Qas been completed without further casualties, 100
and even one of the parties minus yesterday is 20
expected to pay in full. There has not for years 20!
Past been an account of such magnitude, and it
ca, creditable that the enormous losses incurred 20
have been so well met. We cannot won- 100
der at the extreme temporary elevation 20
the
prices after such wholesale selling for time. Had
140 Chancellor of the Excheqner contracted a new
0a
q, the Bears would have been helped out of the
,ss, and would have had at least some chance of
13tIctigating their loss, but we believe they had gone
4° such lengths that even the ten millions of Con-
-I,°lB, which were expected to be created, would only
la squared their accounts. The unpopu-
itrity of the Exchequer Bond substitute will
easily comprehended after these explana-
oirts, and we have here another proof
1, the frequent opposition between the into-
es, tof the public and that of the speculators. Con-
°lB Opened this morning at 93 to 9311 for transfer,
76th
since been 94-, and are now 931. For the
c July, the quotations have been 921 to
backwardation" off to per cent. Yesterday,
42vvever to 1 per cent. was paid for the loan of
'cock, although the Bank continued its accommo-
dation to some parties. Exchequer Bills have been
I?ar to 4s. premium, and the Bonds k to 1 prem.
tank Stock is worth 204 to 206. The New 31 per
cents. have been 914 to 921.
The Foreign Securities have maintained a very
tin aspect. Grenada Deferred Stock is at 6i,
and Mexican at 24 to f. Peruvian have been done
at 66, and 50 for the 4-k per Cents, and the Threes.
ossiau 5 per Cents. have risen to 101. Spanish
Threes are at 401.
he Railway Share Market is less active, and
favour of buyers. French
Scares
are rather in
, also are rather cheaper.
•
The Gold Mining Shares have been nominal, the
trtl
pl°ll of London Bank have risen 11. to 21., as the
elt Meeting will be very favourable ; the Crystal
Daa4.,,ce, have further declined, and the Land Com-
ces are quiet.

1311111S/I FUNDS THIS DAY.—CLOSING PRICES.
!1a,,11k Stock ( From the Opicial List.)
Business done.
204 6
3",,..ye' Cent. Reduced Annuities 913 1 ii I i
1 9i 31 23 33 2i
4r, Cent, Consols Annuities. 93 a2i3A - ./ 2,
Lon
3
Loh I per Cent. AnnuEles 92a 1i 24 2 ig a
bio ,Annuities Expire sth Jan., 1860 ... 4 9-16 11-16
lilif.L 40 Years ,'Expire 10th Oct., 1859.... 4 7-16
14,11.4 Stock
232
,9a.
bi Bonds £l000
Collet,to, tinder £lOOO par 4 p
kt°e',B for Opening 19th July
41000equer Bills, 2id.
400
par 4 p
Bast tiall
2 5 p
i7lizer Bonds Scrip
N.,:-,;', lOE OF FOREIGN FUNDS THIS DAY.
CireZ,l44 Bonds, 5 per Cent.
itekrua Bonds, Deferred
Neat' 3 Per Cent.
11 Ditto ,
et. 4 ,or the Account 24
1 ton Bonds 43 per Cent. 66 i 51 :4
'0rt1,,,,,. 3 Per Cent t 5O 49
1144,,,f,,°"`„ e,se onds, 4 per Cent 4O %'';.'
bt" 'loads, 1822, 5 per Cent. £St lOO 1
Re.m. 043 per, Cent B6 763 '
~,Faol:1814}14„Bonds, 5 per Cent... ....
oplaxia nonds, 3 per Cent 4O
' ~,Ilew Deferred, 3 per Cent. 205191
"I"dends on the above payable in London.
THREE O' CLOCK.
Consols ..... .... .... .. ~... .................... 921 i
Consols tor Opezung IVtiii, July ~,, ~. 92g I