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

AIONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.
l'he sales of cotton at Liverpool yesterday were
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
,e)500 American, 110 Pernam and Maranh am, at 7d.;
,4° Bahia, at 64d ; 600 Egyptian, at 6<'_.d. to 100. ;
4
Surat, at 31d.. to 4' d. ; and 50 Sea Islands, at
s, to 3s. 4d .per lb. Railway Shares were dull.
, The cochineal and indigo auctions of the Nether-
clanio'sles
oTfa.rnedixtugmCoontuhp.any will commence towards the
lars f
The war steamer Dmdalus brings 1,409,000 dol-
-rem Panama.
The state of the New York money market is ac-
c°llnted for in various ways, and although the prime
..eUtse is the new banking law, the following, as in-
3_'alleed by an American journalist, seems to be an
accessory circumstance
let has been stated that the London correspondents of
the
!Erie Railroad Company have not directly given in-
anaation that the bonds of the company, held in hypo-
ecation, should be immediately redeemed ; but in what
toes this contradiction disagree with the statement that,
Inasmuch as the bonds were not negotiable, the holders
tow look to the company for an early settlement. It is
not the Erie Railroad Company alone, which has large
amounts of bonds on hypothecation. The by or call
r,aea to this company do not exceed $2,500,000, while
aggregate of bonds now lying in London, on
ll
beu'e drafts have been made, is over $30,000,000.
the demand for money should increase, which the
Wist London authorities think inevitable, with or
stagthout war, the rate of money, in London, they
, could not be less than five per cent. Thus,
twoe lA're every reason to apprehend that the bonds
have referred will be returned to this coon-
Coupling with this state of facts, we have
tU.7l:pfirioesislpael7e
prospective probability that the money to be thus
recovered will be ordered home in the shape of specie,
ntl43 meet the extraordinary depletion of the Bank of
ngland, which every successive arrival gives us
notice of.
is said that the contraction which the banks are
tree has kept down exchange, but it is equally-
rajoe that bass
so doing they have given a check to the gene-
texllePortation of the country, and thus, while specie is
ZPorarily retained, almost ceasing to be an article of
nl.inerce through these artificial means, our. imports
charl,lLer,eas ug to an alarming extent. To practical me..-
ties, the prospect presents an accumulation of diffic,ul-
- th well understand that in the absence of the
"N cationof the produce of the country there can he.
brtyairnge, except such as is drawn on the responsi
d credit of bankers. This is, of course, a source
eonlace°lllmodation in its nature very limited, and can
Itbe temporary, to be made good by remittances in
eete• The contraction is beyond doubt necessary, and
" 4013 e timely, but it also shows to what an extrava-
gantestent the banks must have been expanded to have
Ounce(' distress through the whole country. The en-
pezltiecitrad,, e and financial operations are virtually sus-

ails for Nassau, Bahamas, are in future to be
mlto"„up on the 17th, instead of the 2nd of each
itit,°) and the return mails will be due here in the
iddle, of the month.
0t" Jnited States gold eagles are to be received
11r West India colonies at 415., the half eagle
01011 0:8' 6(1., quarter eagle at 10s. 3d., and gold
The ld
.rs at 4s
•
Ogle -,,nglish Stock Market has been exceedingly
c aand the quotations remain precisely as they
140,,t, yesterday, Consols being 98 to both for
por'teY and time. There is no news of political im-
terdalice, and the decline at the Paris Bourse yes-
a'3' is the only feature. The New Three-and-a-
T
(4hr-rter per Cents. have been 1011 to , and the
to quo 0
Per Cents. 981 East India Stock has been
Itid 25".
Exchequer Bills are Is. discount to
xPreinium.
of 1111° foreign market there is an entire absence
badness, and prices are merely nominal for the
deeif"Pal securities. Spanish Certificates have been
Pen; at 61 per cent., and Buenos Ayres at 66.
C„
w,vian. are about 841 to 85k.
ha ~"8 stated that the dispute between the Austra-
' Cordillera Gold Company and the Consols
Wtstialian) Land Company will be amicably ad-
the e". °ll the receipt of advices from Sydney from
tet)talnissioners of the respective companies.
ransaction in a large number of Consols
to:ares is reported to have been done " outside,"
Thi ay, at k discount ; namely, 15s. per share.
°Peration may have been induced in conse-
(lsie-i4T of the report that the Hunter River
00°—'1°111) Railway would not only connect. the
inn ,
Ports''arlY s Legenhoe estate with the shipping
eve,,, Morpeth and Newcastle, but that, in the
ar,:_,of Mr. Wentworth's suggestion being
it to extend the line to Scone and Sydney,
11348''',21 have the advantage of a direct railway
i's-ug through it to the latter city.
41,A° half-monthly account is being arranged in
114.6uare market, and prices are, for the English
Thal' almost throughout the same as yesterday.
l'ort.weat Western have risen a little, and the
lia;,:,and Berwick are very firm. French shares
but been rather flat, owing to the decline at Paris,
the ,"uere is no bona fide selling, as the holders have
lee 'Wiest confidencein the goodness of their invest-
twit. • The Great Indian Peninsular line is better,
g to the guarantee of 4i per cent. given by the
040 n
of ada.rable East India Company, upon 1,500,0001.
Q.lltional capital.
4olica d Mine Shares have been lower, Australian
pales toek B anks neglected, and the Land Com-
Inerely nominal.

1311ITIli FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)
Business done.
Z De, ri
1 - -'ellt• Reduced Annuities ......... 9Bi il
t'eu . Consols Annuities .
~,,ep:i. ,
98 iiS
1011 i
1,01„3.3 per Cent. Annuities
biLl! •?;11nrities, Ext.ire sth Jan., 1860 , —
111(li° `3 Iree I's, Expire sth Jan., 1860 5O
Ootia r'cci-g•
t.B::' 1.‘31. Account Bth September 9B i
n,nequer Bills, 11
.401)3
1d 2 p
4!
3 ‘se
.1 d 2
kilo,
11
844 cl Itx, .....................
-'4 °P FOREIGN FUNDS AT ONE O'CLOCK.
66
'k
iiip)B, Ayres Bonds, 3 per Cent
Oornraittee Cert. of Coup. not fun. 6 P c
HALF-PAST TIVO.
1440 Consols . - ........... 98
- .........
Sep.tem...l;el: ..
c . ..
. ...... 98 a