The Sun.
London, England, 1853-08-26 00:00:00

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 6,000 bales, of which 1,000 American
were taken for export. The market continued very
quiet, without change in prices. The sales com-
prised 5,000 American ; 400 Egyptian, at 6id. to
10d. ; 400 Surat, at 3id. to sd. ; and 30 Sea 17 and,
at 2s. 2d. per lb. Railway Shares were steady.
In the commercial markets this week a good busi-
ness has been transacted. Sugar has been rather
quiet. Coffee and rice have been brisk, and a good
business has been done in spirits and dyes, cochi-
neal being up 2d. to 3d. per lb. Pig iron sells
readily. Cotton has been dull, tallow steady,
and tea in rather more demand. Reviewing the
month since the 24th ultimo, Messrs. H. W. Jews-
bury and Co. state :
" There has been an increased confidence in the
foreign and colonial produce markets during the past
month, and importers being firm in their demands have,
in many instances, succeeded in obtaining advanced
rates. The more favourable position of the Eastern
question has tended to produce this result, and should
it terminate favourably, as is now confidently expedted,
combined with the fine harvest weather lately experi-
enced, will, it may reasonably be anticipated, be fol-
lowed by increased business transactions throughout the
whole country, and that the present large consumption
of all the leading articles will not only be maintained,
but be still further increased. The importations of pro-
duce have been large, which has prevented the stocks
showing any material alteration from those of last month.
The consumption of sugar having increased so l'rgely
arrivals fail to present that gradual reduction of stock,
which has been taking place for some time past. Cochi-
neal has improved in value since our last, and from the
accounts of the deficiency of the crop in the West Indies,
we may look for higher rates being paid. Indigo and
safflower are both firmer, with an upward tendency ;
other dyes and dyeing materials remain much the same
as last month. The Continental advices report the pro-
duce markets firm, with a good business doing.
" The late advices from India and China notice that at
the former place trade continues dull, at the latter
place the revolutiooxow going on naturally affects
mercantile transactiok but hitherto respect has been
paid to foreign merchants and their effects. From our
manufacturing districts advices report an improved
tone, but the increased rate of interest caused by the
continued demand for capital has materially affected
business transactions, more particularly for Manchester
goods. The woollen districts report a continued demand
and firm prices. The demand for money has increased
since our last, and rates are rather higher, the present
feeling being that the tendency is still in favour of fur-
ther advanced rates. We now quote first-class paper
31 to 3i, and other bills and securities 4 to 5, and
money on call 2i per cent."
The Emigrant, from Port Philip, has 7,230
ounces of gold on board. She left Melbourne April
21. The Island Home, from Geelong, with ac-
counts of May 6, is also in the Downs, and is
believed to have some gold on board.
The letters by the overland mail from India will
probably be delivered to-morrow afternoon.
There is an expectation in mercantile circles that
the pressure recently advised as existing in the
New York money market will speedily subside, the
new regulation of weekly returns of liabilities and
assets no longer necessitating the sudden calling in
of loans and contraction of circulation, but rather
compelling that steady control over issues and dis-
counts which will render the banks more legitimate
aiders of commercial men.
There has been a flatter market for public secu-
rities, and the tempestuous character of the weather
exercises an injurious influence. Consols have
been 984 and since 98 to The poEzical news
just received per telegraph from Constantinople is
favourable, and the market may therefore become
a little stiffer upon it. The New 3 per Cents.
have been 1011 to and the 3 per Cents. 981
to 99. Exchequer Bills have declined to Is. dis-
count.

Bank Stock is not worth more than 228 to 2284;
India Stock is at 257 ; East India Bonds are 15s.
to 20s. prem.
Foreign Securities have been exceedingly quiet.
Portuguese Four per Cents. have been done at 45,
and the Bonds, without the overdue coupons, at
42i ; Sardinian Stock has been dealt in at 96 and
97 ; Peruvian are nominally 84 to 85i ; Grenada
Deferred, Di ; Mexican, 264 to 27 ; and Spanish
Deferred, 23i to I.
All the principal railway shares have declined
Great Western hate given way to 1, North-
Western / to 2, Midland 1, and York and North
Midland 1. Eastern Counties have risen to 1,
and Norfolk Ito 2. The general heaviness of the
market is mainly through sympathy with Consols.
French Shares have been rather cheaper with the
rest.

The Gold Mine Shares have been neglected, the
Land Companies are barely so good, and the Banks
are duller.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From, till Oficial List.)

Business done.
Bank Stock ..
3 per Cent. Reduced Amrtities
3 per Cent. Consols Annu:ties
New 34 per Cent. Ammites lOlB 8 *
India Stock
20 15
ClnoDdnisiatotl7fnuodrnsdAec.4rci-E°Z.Ee.. ptember 9B* 8
Exchequer Bills, ld.
£l000
2500
Small .
PRICE OF FOREIGIs FUNDS AT ONE O'CLOCK.
Portuguese Bonds, 4 per Cent.
Ditto Ex all over-due Coupons 42*
Sardinian Bonds, 5 per Chit 97 6

HALF-PAST TWO.
Consols
Ditto September Account 9B

COURT OF BANKRUPTCY-(THIS DAY),

IN RE SHARPE.
This bankrupt had carried on business as a builder in
St. John's Wood, and io-day was appointed for his last
examination. .

___
The balance sheet prepared by Messrs. Robinson and
Knowles, shows the bankruptcy to have arisen through
the building of the North Star Tavern, St. John's
Wood.

In consequence of the complicated nature of the ac
counts, an adjournment was granted.

SECONDARIES' COURT-(THIS DAY).

WHAT IS A LEGAL TEgDER-WHITING V. WATSON.

This was an action to recover the sum of 33. uls., the
amount of an overcharge under peculiar circumstances.
The plaintiff is a rev. gentleman, residing at Cambridge,
and defendant is an undertaker. Defendant paid 3/. into
court.

Mr. Wilkins, of Furnival's Inn, appeared for the plain.
tiff, and Mr. Petersdorff as counsel for the defendant.

The facts of the case were these :—The plaintiff's
brother died in London, and plaintiff came to town to see
the remains conveyed to Cambridge by railway. The corpse
was accordingly removed, and the defendant's billfor coffin,
attendances, &c., amounting to 191. 155., was paid.
One of the charges in the bill was 51. 15s. for railway
charges, but it was ascertained that the actual charge
was only 21. 3s. 6d. Plaintiff wrote to defendant on the
subject, and said there was an overcharge of 31. in that
respect, and defendant at once sent a post-office order
for the amount. In a conversation between the plaintiff
and defendant, the latter said that at first he was told
at the station that the charge would bell. 3s. 6d.,
but was called back and told it would be Si. 155., but
not having paid the company before he made out the
bill to plaintiff, he was not aware of the overcharge, and
sent a post-office order.

The question know raised was whether a post-office
order, admitted to have been received but returned, was
a legal tender.
The Under-Sheriff held that it was, but that the
amount tendered did not cover the overcharge.
A verdict was therefore given for the plaintiff.

In Galignani's Messenger of the 24th we notice the
formation of a company to carry out the concession of
99 years of a railroad, called the Seville and Cordova
Railway. Capital twenty-eight million francs in shares
of 500 fr. First call, 125 fr. per share, and 5 per cent.
interest on paid calls during the progress of the works.
It will form part of the line from Cadiz to Madrid, and
the provinces of Seville and Cordova have granted a
subvention of 12, 400, 000 fr. Messrs. Brassey, Parent, and
Schaker are the contractors at 26 millions of fr., the
concessionaires are the Prince of Wagram, .T.
Chaplin, Esq., M.P., Count Francois Clary, Senator—
Sir John Easthope, Bart., Juan Pablo Echecopar,
banker at Cadiz—F. X. de Ezpeleta, banker at Bor-
dea ix—Pedro Gil, banker, Paris ; Charles Lafitte,
banker, Paris.—Charles Morrison, Esq., Fore-street,
London ; Henry O'Shea, banker, Madrid, and Jules
Tahabot, Paris. The high standing which most of the
projectors hold in public estimation distinguishes
this undertaking from many of the babble concerns of
which the Peninsula has been the field, and leads us
to hope that the benefits of railways will at last be ap-
plied to Spain under favourable circumstances.
TESTIMONIAL TO JOHN SADJEIR, ESQ., M.P.—Nearly
four hundred shareholders in the Lonon and County
Bank have presented the chairman of the establish-
ment, Mr. Thomas Sadleir, one of her Majesty's
Lords of the Treasury, with three very elegant solid
silver candelabra; valued at 6001., as a mark of their
admiration of Mr. Sadleir's munificence in contributing
the sum of 4,5001. towards the foundation of a provident
fund for the officers of the bank. The National Provin-
cial Bank of England, following the example of the hon.
member for Sligo, has voted the sum of 5001. for the
creation of a similar fund, and other large banking
establishments in the City intend adopting the same wise
and generous course.
DEATH OF DEVRIENT, THE TRAGEDIAN.—The Vienna
journals announce the death at Ischl, by apoplexy, of
the celebrated tragedian, M. C. Devrient, husband of
Mme. Schroeder-Devrient, the well-known singer. He
was in his 58th year.