The Sun.
London, England, 1853-08-30 00:00:00

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool yesterday wera
estimated at 7,000 bales, of which 1,000 American
'were taken for export. The market closed steady,
without alteration in prices. The sales comprised
5,500 American 110 Perham and Maranham, at 7d.;
100 Bahia, at 62d. ; 600 Egyptian, at Nd. to 100. ;
24005. Surat, at 3-W. to 4,1 d. ; and 50 Sea Islands, at
to
3s. 4d.per lb. Railway Shares were dull.
The cochineal and indigo auctions of the Nether-
lailads Trading Company will commence towards the
close of next month.
The war steamer Da:dalus brings 1,400,000 dol-
lars from Panama.
The state of the New York money market is ac-
counted for in various ways, and although the prime
cause is the new banking law, the following, as in-
stanced by an American journalist, seems to be an
accessory circumstance :
It has been stated that the London correspondents of
the Erie Railroad Company have not directly given in-
timation that the bonds of the company, held in hypo-
thecation should be immediately redeemed ; but in what
does this contradiction disagree with the statement that,
inaBtnuch as the bonds were not negotiable, the holders
now look to the company fur an early settlement. It is
not the Erie Railroad Company alone, which has large
.Inounts
1) of bonds on hypothecation. The by or call
"L (,aos toe this company do not exceed $2,500,000, while
Whit aggregate of bonds now lying in London, on
Ifh drafts have been made, is over $30,000,000.
the demand for money should increase, which the
est London authorities think inevitable, with or
without war, the rate of money, in London, they
state, could not be less than five per cent. Thus,
to have every reason to apprehend that the bonds
which we have referred will be returned to this coun-
t.rY for sale. Coupling with this state of facts, we have
the prospective probability that the money to be thus
recovered will be ordered home in the shape of specie,
to
.17 meet the extraordinary depletion of the Bank of
noti4'l3glanof.d, which every successive arrival gives us
ce
It is said that the contraction which the banks are
making has kept down exchange, but it is equally
true that b so doing they have given a check to the gene-
ral exportation of the country, and thus, while specie is
"vraPorarily retained, almost ceasing to be an article of
eel:amerce through these artificial means, our imports
ilit,
are increasing to an alarming extent. To practical mer-
chants the prospect presents an accumulation of difficul-
tiesy and credit
well understand that in the absence of the
exportation of the produce of the country there can be
b° exohan,Ye, except such as is drawn on the responsi-
credit of bankers. This is, of course, a source
of accommodation in its nature very limited, and can
s"13? be temporary, to be made good by remittances in
BPecie. The contraction is beyond doubt necessary, and
,I.3cpc timely, but it also shows to what an extrava-
'-nli extent the banks must have been expanded to have
produced distress through the whole country. The en-
e trade and financial operations are virtually sus-
pended.,,

Mails for Nassau, Bahamas, are in future to be
lblade
up on the 17th, instead of the 2nd of each
_ h, and the return mails will be due here in the
4114€11.e of the month.
it,' The 'United States gold eagles are to be received
a(:),.1,1' West India colonies at 415., the half eagle
41,1;"8. 6d., quarter eagle at 10s. 3d., and gold
doll at 4s Id.
The
d,m, English Stock Market has been exceedingly
Co' and the quotations remain precisely as they
cooed yesterday, Consols being 98 to 4 both for
p0,.,11eY and time. There is no news of political im-
portance, and the decline at the Paris Bourse yes-
Q''''ay is the only feature. The New Three-and-a-
larter per Cents. have been 1014 to 1, and the
Three per Cents. 98i East India Stock has been
211°ted 256. Exchequer Bills are ls. discount to
%Premium.
of business u
the foreign market there is an entire absence
pp; -usiness, and prices are merely nominal for the
dealt
securities. Spanish Certificates have been
plt at 61 per cent., and Buenos Ayres at 66.
Peruvian are about 841 to 851.
It is stated that the dispute between the Austra-
Cordillera Gold Company and the Consols
rlistralian) Land Company will be amicably ad-
tted on the receipt of advices from Sydney from
commissioners of the respective companies.
transaction in a large number of Consols
to-day,
is reported to have been done " outside,"
Th--Lay, at 1 discount ; namely, 15s. per share.
operation may have been induced in conse-
,"ence of the report that the Hunter River
(.I,,4lorthern) Railway would not only connect the
Legenhoe estate with the shipping
'e,t3rte of Morpeth and Newcastle, but that, in the
aa— eat of Mr. Wentworth's suggestion being
ic°Pted to extend the line to Scone and Sydney,
15 wiz have the advantage of a direct railway
tin(' through it to the latter city.
th'un6half-monthly account is being arranged in
lite Share market, and prices are, for the English
The
almost throughout the same as yesterday.
e Great Western have risen a little, and the
ha°ll:. and Berwick are very firm. French shares
but there
been rather flat, owing to the decline at Paris,
mthere is no bona fide selling, as the holders have
tle fullest confidence in the goodness of their invest-
TheVi Great Indian Peninsular line is better
,
gog to the guarantee of 4i per cent. given by the
enurable East India Company, upon 1,500,0001.
(4 additional capital.
,1,.,?°1d Mine Shares have been lower, Australian
p
a
il,t-St Banks neglected, and the Land Com-
zes Merely nominal.

BRITISH FUNDS THIS DAY.
(Prom the Official List.)
ji:per Cent. Reduced Annuities 98:1 i
t,,Cent. Consols Annuities
let; per Cent. Annuities lOl4 i i
bitig,. Annuities, Expire sth Jan., 1860
bit." 30 Years, Expire 10th Oct., 1859 • 54
, .o 30
+1414 Years, Expire sth Jan., 1860 5
toll tock
krs for Account Bth September 9B .11
chequer Bills, ld.
4000
$:500
Smalll d 2p
Ik 14RICE OF FOREIGN FUNDS THIS DAY.
14
apaiii.'" Ayres Bonds, 6 per Cent 66
Spa4m'l, Bonds 3 per Cent 474
-84
Committee Cert. of Coup. not fun 6i i P 0

THREE O'CLOCK.
Consols 9B 3/4
98 -4
Ditto September Account