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

MON E Y Al AitK E I

AND
COAIMEE CIAL INT ELL IGENCE..

CITY, TVY 0 o'CLOCK,

The cotton market at Liverpool yesterday was
steady. Sales 7,000 bales. Shares were neglected.
The forbearance which creditors are exercising
towards the firms that have been placed in difficul-
ties is exemplified in the case of Mr. Edward Oli-
ver, of Liverpool. Having purchased on credit a
large amount of shipping, it has been found expe-
dient, with a view of diminishing the aggregate
liability, for the sellers to take back their
property, and cancel the bills of exchange
given in lieu. This may entail a loss upon
the original owners, the more especially as
they could, perhaps, have diminished their stake

in shipping at the favourable opportunity which
presented itself some months back, and which at
present does not exist. Since, however, there is
but a choice of evils, it is to be presumed that the
wisest course has been adopted, for, under the
arrangement, there may be some indemnification
which Mr. Oliver's assets will meet. The effect of
the recent suspensions has been to render every
one extremely cautious, and very properly so:
The demand for money was more active in the
City yesterday, and this is explained by the pay-
ment to-day of the last instalment upon the B
series of Exchequer Bonds. The amount is
460,0001. Besides the above, however, the rail-
way "calls" of the current month are heavy, not
far short of two millions sterling, and nearly a
million is payable upon foreign companies,
the larger proportion of the shares in which are
held by English capitalists. Already 12,042,0651.
have been called this year, which is about
1,000,0001. more than during the whole of the
year 1853, and 4,000,0001. over 1852. There
seems, therefore, to be employment for at least a
portion of our surplus means, and the consolation
is that it will be better thus placed than in foreign
loans and bubble schemes such as a period of mone-
tary facilities is certain to nourish.
The telegraphic despatches of Oct. 6 from Memel
state :—" The conflagration has at last been sub-
dued. The destruction of property has been about
2,000,000/., and all business suspended, the Cus-
tom-house, Bank, and Court of Justice being
burnt. The shipping, however, is reported as all
safe. It blew a gale at west last night, but to-day
it is more moderate."

The New York accounts are somewhat more
favourable ; but until the suspected banks are
placed 'on a sounder footing, suspicion will
still lurk. In a report by a local writer it is
Mated :

"It would be very difficult to estimate the losses of
the past six months by fire and flood, by disease and
death. Not a section of the country has escaped. All
have suffered more or less. We have had within our
own l►mits, we believe, every misfortune but war. The
inflictions of Divine Providence we could have borne
-with resignation, but we have had others which have been
too much for our philosophy to put up with. We allude to
the enormous frauds and defalcations, which have done
more to injure private and public credit, than all the
other calamities of the year combined. We shall
ultimately recover from all these difficulties, and we
should congratulate Oursels that the effect has been no
worse. In the face of these depressing and depreciating
causes, prices have been wonderfully sustained. Fancy
stocks have fallen heavily, it is ture, but no more than
circumstances warranted ; and those who have not
been governed in their operations by the signs of the
times, have been serious sufferers. It did not require
a great degree of foresight to see the effect of certain
causes. We 'do not allude to causes for depression in
any particular fancy stock, but to the general move-
ments of financial affairs. Speculators in stocks for a
fall have been particularly fortunate this year, and
their success has been the result of a variety of events,
very few of which were foreseen by the most far sighted.
Sufficient had transpired, even before the Schuyler ex-
pos4s, to justify the most extensive operations for a fall
in the market value of fancy stocks. Every event of any
importance which followed that stupendous swindle,
strengthened the position of sellers, and many' have no
doubt reaped a rich harvest out of the wreck and ruin
going on about them. There is now a lull in the great
maelstrom of speculation. Its waters are now quiet,
and when again agitated it will be doubtless by a reverse
movement. There is a brighter day coming for the bulls.
"The excitement that has obtained during most of
the month in uncurrent money, has almost entirely
subsic'el, and rates of discount are lower. The large
amount of currency that has been driven home for re-
demption is felt at the West where circulation is much
needed. Notwithstanding all the talk that bas been
made about " Western money," it now stands better
'with the people than Eastern money. There is a wtnt
of confidence in the New England system of banking
that is daily gaining ground, and the public is begin-
irig to distthigniiih-a seoured from-an unsecured cur-
ency."
The English Funds have been very quiet again,
and there is not oven a fractional variation in
prices as compared with yesterday. Consols have
been 951 to for transfer, and 951 for account.
Eaxchequer Bills are 4s. to 7s. premium, and India
Bonds 63. to 10s. premium.

The Foreign Market is exceedingly dull. The
Turkish Scrip brings 2i to 3i premium. Sardinian
Buds have been at 88k. Dutch Two-and-a-Half
pe r Cents. have been marked 61/ to 62, and the
Fvur per Cents. 92.

The following are the nominal prices of foreign
•tocks :—Grenada Deferred Bonds, 5i to ;
Mexican, 24 to 25 ; Peruvian, 71 to 73 ; ditto
3 per Cents., 51 to 53 ; Portuguese 4 per Cents.,
40 to 42 ; Russian 5 per Cents., 95 to 97 ; ditto
4i- per Cents., 84 to 86 ; Spanish New Deferred,
to 183- ; ditto 3 per Cents., 371 to 38 ; ditto
Ce aificates, 5 to 5/ ; ditto Passive, 4i to 4g.
The Railway Share Market is a trifle firmer as
fi as can be judged by the limited business doing.
For the Mines and Banks there is a steady
market.

ERITISH FUNDS THIS DAY AT ONE O'CLOClis

From the Ofiicial List. )

13u iness done.
3 por Cent. Consols Annuities 951
In 3ia Bonds, 21000 . ...... .......
sitto, under 21000 lO p
Ba;ok. Stock
Ditto for the Account
Corrsols for Account 17th Oct.
;achequer Bills, 2d.
£l000
2500 4 7 p
Small 4 7 p
P RICE OF FOREIGN FUNDS AT ONE O'CLOCK'.
Br azilian Bonds, 5 per Cont 9B
Sal viinian Bonds, 5 per Cent........... Cent BBi
Turkish Scrip 6 per cent 3 p

Dividends on the above payable in London
Dn tch Exchange, 2i per Cent. 12 Guil 62 11
I Ditto 4 per Cent. Certifieates..~
HALF-PAST TWO.
. 95,k /
95/ a

Consols
Ditto October Account

It is stated that, under the arrangement of the affairs
of Mr. Oliver at Liverpool, the principal firms interested
have agreed to take back vessels which had been sold to
Lim on credit to the amount of 400,0001., and that his
acceptances to that extent will, therefore, be cancelled.
N., positive information on the subject, however, appears
to have transpired.
AMSTERDAM AND ROTTERDAM PRODUCE MARKET,
Th e weekly reviews of the Amsterdam and Rotterdam
produce markets notice increased activity, with conti-,ned
firmness of prices. The transactions in coffee, al.ihough
not important, were at full rates. Sugar, r•-,„v7 and re-
fined, exhibited a slight advance, buyers hr,aing operated
more freely. There was a steady demr,nd for rice, and
late quotations were well supported,. In the price of
indigo no material alteration had occurred. No busi-
ness of moment was reported i 4 saltpetre, and the quo-
tation remained heavy.
Room—Letters from Rouen state that the market
for manufactures was steady,
and that prices in some
cases showed a te- d ency to improvement, owing to
purchases having 'peen made for the approaching winter
season._

THH BEET2i ACT.—Yesterday, a public meeting, most
.nfiiientiany attended, of the hotel and tavern keepers of
the metropolis and the provinces, was held at the Bridge-
howje Hotel, Loudon-bridge, for the purpose of taking
measures to secure the trade against present and pro-
'sp'ective unfriendly legislation. The chair was taken by
lir. Burrell, when it was resolved to form an associa-
tion, to be called " The Hotel, Tavern, and Licensed
Victuallers' Association," having for its objects-Ist, To
watch the operation of the various acts of Parliament at
present affecting the trade generally ; 2dlY, To obtain a
repeal of those which interfere with their rights and
privileges ; 3dly, To protect members in the due exer-
uhly, To exert all possible influ-
eise oetheir business ;
epee in preventing the passing of future injurious mea-
sures ; and sthly, To raise a fund, by donations and
subscriptions, for the purpose of securing these objects,
the subscription not being less than one guinea per
annum. A committee, consisting of some of the most
eminent members of the trade, was next appointed to
conduct the affairs of the association, and a sub-com-
mittee was nominated to prepare a body of bye-laws for
its government. Some other routine business having
been disposed of, the proceedings terminated with the
usual compliment to the chairman. After the proceed-
ings of the meeting had been brought to a satisfactory
tc,o3neltision, the majority of those coinnoing ;t ‘1.43 tiowu
~uniptuous banquet, serv,:d iii the first style of ele-
toartce, by Mr, - Burrell, and duly heno.ared "Tile
w n''' "The Army and Navy," and ~.•ther patriotic
toasts, with all that zeal and lualty wh:4011 characterise
*'91114 en, - • . •