The Sun.
London, England, 1853-03-02 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool yesterday were
estimated at 5,000 bales, of which 800 Egyptian
were taken for export, and 900 American on specu-
lation. The market closed heavily, and prices of
American under 6d. per lb. were 1-16 d. lower.
The sales comprised 3,500 American, 100 Pernam
and Maranham at 6/d. to 6d., 1,000 Egyptian at
5/d. to 11d., 300 Surat at 4d. to 4-id., and 30 Sea
Island at Is. 7d. to ls. 10d. per lb. In Railway
Shares a moderate business was done, at rather
higher rates.
In the London Mercantile Price Current the fol-
lowing are given as the latest statements from the
United States, dated New York, February 15:--
1853. 1852.
Receipts at the ports bales 2,066,000 ... 1,564,000
Exports to Great Britain „ 848,000 ... 526,000
Ditto to France „ 148,000 ... 197,000
Total exports „ 1,132,000 ... 827,000
Stock on hand , ,, 670,000 534,000
The state of the currant market, at Liverpool,
is described by Messrs. Houghton and Levy as
follows :
"The market for this article during the past month
has materially improved, both as regards the consump-
tion and value, the clearances being about 170 tons,
against only 80 for the month of January, in addition to
which large supplies for this port continue to be drawn
from London. The increased home consumption and
demand for exportation, ship stores, &c., has principally
consisted of low and middling quaities, better descrip-
tions being naturally influenced by the same ; holders of
fine fruit remain equally firm, as noted in our several
past circulars, under the impression that this quality
will reach 80s. to 905., provided the accounts now to
hand from the currant growing countries be confirmed
in respect to the next year's crop. The only arrival to
this since our last, consists of about 80 tons from New
York. We note a large business has been done in
London, both in old and new fruit, during the month,
at improved rates."
Most startling information has come to hand
from Australia by the Overland India mail. Under
date of Dec. 6, gold circulars state that the produc-
tion at the Ovens and Bendigo " digging," and, in-
deed, at Mount Alexander generally, were materi-
ally falling off, and that only 5,000 to 8,000 ounces
weekly were being brought by the escort to Mel-
bourne. Considerable despondency is stated to exist
among the miners, who were out "prospecting" in all
directions, and 80,000 persons being employed,
¶nany parties feared the " digging" were exhausted.
No doubt there is gross exaggeration in all this,
but as it appears. in 'gold circulars, we give it as it
stands, leaving the rest for future explanation, of
which it is no doubt susceptible.
The steamer Atlantic brings good news from
America. The exchange on London was 110 to
j.
Business brisk.
The Bankers' Magazine for the present month
contains the customary quantity of interesting
matter connected with monetary affairs, and from
a review of the " Meetings of Joint-Stock Banks,"
so far as regards those of late date, we take the
following extracts :
" The rates of dividend—a point of high consideration
with parties who have permanently invested their capital
in the shares of these institutions—have, in all cases,
been fully supported if they have not been increased,
and this end has been attained in a period of great
plethora, and when the value of money at the Bank
of England, and in Lombard-street has not exceeded 2
per cent. To have been enabled to realise profits,
under such circumstances, equal in any instance to 6,
and in otters to 8 and 9 per cent., cannot but be re-
garded as a most gratifying test of the ability of the
directors and managers, and the general consequence
has been, that a further advance in the value of the re-
spective shares has taken place.
"On the whole at the meeting, the pertinent fact
elicited has been that the various banks are rapidly ex-
tending their business, and that the facilities which are
offered through these channels, not only accommodate
trade, but also nurture it, and tend to render its position
much less fluctuating. Banking, thus fostered and en-
couraged, cannot fail to give a tone to mercantile trans-
actions, and while those of the most ordinary grade have
experienced benefit from their introduetion to such re-
sources, others of greater magnitude have derived the
support necessary to carry them successfully through."
The English Stock market has been rather feeble
and there is less doing. c The nearer we approach
settling day, the greater the disinclination to ope-
rate for the next account. Consols are 99i for
transfer, and 99a / for account. The New 3i per
Cents. have been 1031 to and the 3 per Cents.,
100/ to Bank Stock is firm at 228, and India
Stock rather heavy, at 265. Exchequer Bills are
12s. to 18s premium.
The Foreign Securities have been buoyant.
Spanish New Deferred are 23i to 24, and the Cer-
tificate is at 7to The Swedish Loan is l dis-
count. Portuguese Four per Cents. are at 39.
Mexican Bonds have been up to 24 to f, and
Peruvian Six per Cents. are firm at 106/. Bra-
zilian New Stock is worth 97t to 98. Buenos
Ayres Bonds are at 62. Dutch Two-and-a-Half
per Cents. are marked 661.
Not much business has been done in Railway
Shares, and the quotations are rather weaker
within the last half-hour. The principal transac-
tions have been in North Western, Midland, Great
Northern, Caledonian and South Western. Lan-
cashire and Yorkshire are lower.
The Gold Mine Shares have receded, especially
the Great Nugget Vein, the Port Philip, and the
Colonial.
The Land Companies' Shares have been de-
pressed, with limited transactions.
In the Joint Stock Bank Shares large dealings
have b
heenave entered into. Considerably higher
prices been paid for the Australia, namely,
3 advance.

BRITISH FUNDS AT ONE O'CLOCK THIS DAY.
(From the Official List.)
Business done.

i
Bank Stock 228
3 per Cent. Reduced Annuities 103 1 -4
3 per Cent. Consols Annuities 99
New 31 per Cent. Annuities........ .......... 103.
Long Annuities, Exp;re sth Jan., 1860 6i 4
Ditto 30 Years, Expire 10th Oct., 1859
265
India Stock . .......... ..... . ... .. .
..... .
Consols for Account 10th March
Exchequer Bills 10. .
£1000..............
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent. ... .
Ditto New, 1852, 4i per Cent
Buenos Ayres Bonds, 6 per Cent
Greek ex over-due Coupons ....... ..
Mexican 3 per Cent 24i
Peruvian 6 per Cent.
Portuguese 4 per Cent.
Sardinian Bonds, 5 per Cent.
Spanish New Deferred, 3 per Cent 24 31
HALF ST TWO.
Consols
Ditto March Account 99a i

BANK OF ENGLAND.—It is understood that the ad- 1
vances of the Bank of England during the approaching
shutting of the transfer-books will be at the rate of 3 per
cent. On former occasions it has been customary for
the Bank to make these temporary advances at a half
per cent. below their current rate of discount for three
months' bills, but the active demand for money which
now prevails has prevented in the present instance any
reduction from being adopted.
PRICE OF GOLD.—The quotation of gold at Paris is
about at par (according to the new tariff), which, at
the English Taint price of 3/. 17s. 10. per ounc for
standard gold, gives an exchange of 0 25.17 ; and,e the
exchange at Paris on London at short being 25.071, it
follows that gold is about 0.38 per cent. dearer in Paris
than in London. By advices from Hamburgh the price
of gold is 429 per mark, which, at the English mint
price of 3/. 17s. 101 d. per ounce for standard gold, gives
an exchange of 13.7 ; and, the exchange at Hamburgh
on London at short being 13.6, it follows that gold is
0.47 per cent. dearer in Hamburgh than in London.
COURSB OF EXCHANGE AT NEW YORK.—The course
of exchange at New York o London for bills at 60
days' sight is 1101 per cent., n and, the par of exchange
between England and America being 109 23-40 per
cent., it follows that the exchange is nominally 0.67
per cent. in favour of England ; and, after making allow-
ance for charges of transport, the present rate leaves
a profit on the importation of gold from the United
States.
AUSTRALASIAN STEAMSHIP COMPANT.--The first
mvessel
of the Australasian Steamship Company (Panaa to
Sydney), about to commence operations in New York,
will, it is stated, be a new one just comburden , c pleted,called
has
the
Golden Age. She is of 2,864 tons' and
200 first cabin, 200
capacity for 1,200 passengers (
second, 800 third), with 1,200 tons of coal, an d
for td 500
h of
cargo. Her frame was originally intend e
Adriatic, the fifth ship of the Collins' line, and she has
since been completed with special reference to the pas-
senger trade in the Pacific, so as to secure room and
ventilation for the largest possible number of persons.
According to the calculations in the prospectus of the
company, it is expected that she will enable the passage
to Australia to be completed within 35 days from New
York and 50 days from England.

IMPERIAL PARLIAMENT.

HOUSE OF COMMONS.—(THIS DAY.)
The SPEAKER took the chair at twelve o'clock.
Colonel MAIILE took the oaths and his seat for For.

farshire.

The committee appointed to try the Waterford elec.
tion was sworn at the table.
PRIVATE BUSINESS.

On the motion for the second reading of the Ribble
Navigation Bill,
Mr. HEADLAM moved that the bill be read a second
time this day six months.
Mr. W. Patten, Mr. T. Parker, and Mr. Strutt sup-
ported the bill. The amendment was ultimately with-
drawn, and the bill read a second time.

The SPEAKER acquainted the house that he had
received notice that the petition complaining of an undue
return for the borough of Kingston-upon-Hull would not
be proceeded with.
A number of petitions were presented against the ad-
mission of Jews into Parliament.

Sir G. FILMER presented a petition from 250 work-
ing men of Sydenham, against the opening of the Crystal
Palace on Sundays.
Mr. PHINN presented a similar petition from the
working men of Bath.
Similar petitions were presented by Mr. CHRETHAM,
from Bury, and by Mr. BouvERIE from Ayr.
Mr. AGLIONBY presented a petition from Maryport,
praying for Parliamentary Papers.
Mr. V. SMITH moved that the evidence taken be-
fore the Cambridge Election Petition be printed.

Agreed to.
UNION OF BENEFICES BILL.

Mr. FREWEN moved the second reading of this bill

Mr. S. HERBERT opposed the bill. He thought
that this was a kind of isolated legislation on a great
subject like this. The bill militated in its principle
against a project now in contemplation by the commis-
sion which was issued on the proposal of Lord Shaftes-
bury some years ago, for the purpose of inquiry into the
subject of sub-division of parishes. The house might
probably not be aware that in the city of London there
existed a great number of parishes from which the popu-
lation had altogether migrated, and in which the churches
were almost deserted. The population of the city at the
last census was found to have diminished to little more
than 40,000. It was proposed in such cases as these to
amalgamate one or more livings, and to devote the sur-
plus revenue, if any there should be, to the
creation of new cures in populous suburbs.
Now, if that project were to be carried out, the
first thing which would have to be done would be to
repeal this bill, and he thought it would be inconsiderate,
then, without some great object to be gained, which the
hon. gentleman had not shown, to impose the future
necessity on Parliament of retracing its steps. With re-
gard to the provision of the bill to prevent heads of col-
leges and masters of public schools from holding bene-
fices, to which, from the nature of their functions, they
could not attend, he quite agreed with its expediency ;
but he thought it was clear that they ought not to pro-
ceed in the matter hastily, without giving time to the
public bodies interested to supply the deficiencies in the
incomes of such functionaries which would thus be created.
He objected altogether to the third clause of the
bill which proposed to enact that in parishes where
there was no church, the revenue should be sequestrated
for a certain number of years until a fund had been ac-
cumulated sufficiently large to build one, on the ground
that it would be leaving the inhabitants of those parishes
in spiritual destitution for that long time without reason.
He hoped the hon. gentleman would not press the bill,
but if he persevered with it, he trusted the house would
be of opinion that it was an evil to legislate upon great
and important matters by small piecemeal measures of
this kind.

After a few words of explanation from Mr. FREWEN,
Mr. SPOONER hoped the hon. member would with-
draw the bill after what had fallen from Mr. Herbert,
who said that many of the evils to which it referred were
under the consideration of the Government, and who
held out a kind of prospect that some measure with re-
spect to them would be introduced.
Mr. FREWEN acceded to the suggestion, and the
bill was then by consent, withdrawn.

St.
10
St.
St.

50
161
St.
20 I

50
25
100
St.
6
25