The Sun.
London, England, 1854-09-08 00:00:00

MONEY MA RK E

AND
COMMERCIAL INTELLIGENCE.

CITY, TWO o'CLOCK.
The sales of cotton at Liverpool yesterday were
estimated at 7,000 bales, including 1,500 American
taken for export and on speculation. There was
no change to notice in prices or the tone of the
market. The sales comprised 5,700 American, 300
Pernam and Maranham at 6d. to 6d., 60 Bahia at
6d. to 6d., 250 Egyptian at 6d. to 91d., and 70U
Surat at 3d. to 41d. per lb. Railway Shares were
dull.

In Colonial produce this week there has been
more animation, and full prices have generally been
obtained. West India sugar, however, has been
dull, but foreign has met with a ready sale. Coffee
has brought full rates, and with a good business
doing. Spices have remained dull. Tea has not
been much inquired for, and rice has slightly re-
ceded. Cotton has been steady. Saltpetre lower,
and tallow inactive.
From Messrs. D. Bell, Son, and Co., we have
the subjoined list of prices for United States securi-
ties, with the information that the market is dull :
e. .
United States 6 per Cent. Bonds Redeema
1868.b..1106Per 107 Cent
United States 6 per Cent. Inscribed
Stock
186/-1868-106 107
Pennsylvania 5 per Celt.
... 77 78xd
Pennsylvania 5 per Cent. Bonds 1877... 82 83rd
Massachusetts 5 per Cent. (Sterling
Bonds) 1868...103
Maryland 5 per Cent. (Sterling. Bonds) ... 92 94
Alabama 5 per Cent. (Ster. Bonds) 1858-9-66... 83
Virginia 5 per Cent. (Sterling Bonds) 1888... 90 92
Virginia Bonds
Canada 6 per Cent. (Sterling Bonds) 1876...107 103
New Orleans 6 per Cent. Bonds 1893... 79 81
Pennsylvania Central It. Rd, 6 per
Cent 1880— 90 91
New York and Erie 7 per Cent., Convert-
ible 1859... 90 91
New York and Erie 7 per Cent., Convert-
ible 1862... 70 73
The next and following arrivals from the United
States are looked forward for with something of a
painful interest, for the last, with dates to the
20th ult., brought details, unhappily too distress-
ing, from many states and leading districts of the
Union, of a deplorable failure, not of one, but of
all the serial crops, and of potatoes as well. It is
not one paper alone that tells the tale, but num-
bers of respectable journals, located in the various
states and districts, and they are all of one accord ;
indeed there could be no mistake about the causes.
With respect to the potatoes the cause was simply
the disease, which, for some time past, had been
known to be prevalent among them. In the case
of the cereals it was a drought, uninterrupted, of
six weeks, except in isolated localities, where
slight showers had fallen during the first week of
the series, so slight as scarcely to have moistened
the surface of the soil. The draught was accom-
panied with excessive heat, by which vegetation
was scorched up. In various of the States it was
asserted and believed the crops would not yield one-
third or even one-fourth of an average. In Ohio,
which in ordinary years usually produces about
one-fifth of all the wheat grown in the Union, it is
positively averred, with facts brought in proof, that
the harvest product, under the most favourable
change of circumstances, could not be beyond half
an average. Similar statements are made from
Indiana, Kentucky, and other neighbouring States.
With these it is not, however, theloss of the wheat
and other grain crops that is so much the occasion
of anxiety and so deeply deplored as that of Indian
corn. They are the most extensive grazing and
cattle growing States of the Republic, and are pecu-
liarly dependent, therefore, upon ample supplies of
this grain, which, besides that the choicest portion
is largely consumed as food by the people through-
out the United States, is applied to the fattening
of cattle and swine for consumption and ex-
portation. They are driven into the maize
fields after the finest tall plants are cut for
grinding, and so prepared for the knife. In the
States named with Missouri and ono other, this
cattle and pork rearing and slaughtering is a special
branch of industry, and of porkers alone about one-
and-a-quarter millions of heads are thus slaughtered,
cured, packed and exported, of which full one-
fourth are from Ohio alone. With a deficient
harvest of one half in Indian corn, for that was the
most favourable estimate, food would be wanting
for cattle and swine, who must perish by whole-
sale in consequence, as they had already eaten up
and laid bare in a winter and summer's range the
herbage of the forests and the acorns. Panic had
already seized the owners and breeders by the last

accounts, and at Cincinnati they were anxiously
offering the live porker stock at VI cents, say 2{l.
per lb. Flour had advanced in the sea-ports from
45 to 60 cents upon the barrel, and it is under-
stood that upon the advices or orders received on
this side of the state of things, American flour has
actually been bought in Liverpool for return expor-
tation to New York.

It is quite clear, that should the final realisation
of the cereal crops come to verify the apprehensions
even the most moderate entertained and expressed,
resort must be had to European markets for sup-
plies to fill up a deficiency so deplorable. Hap-
pily, both here and all over Europe, splendid har-
vests have furnished enough for home wants, with
some to spare for our neighbours across the Atlan-
tic. There may, and must, be difficulties about
the payment, in money markets disordered like
those of New York, Philadelphia, Boston, and
elsewhere, by wild speculations in railway stocks,
bonds, and other schemes, scarcely saleable now,
either hero or there for investment at whatever
price. The national damage from deficient
crops must be no less frightful in America
than from sad experience it has been
found here. An Ohio paper, giving various
statistical returns and calculations,
estimates the
damage at no less than 100 millions of dollars upon
the most favourable supposition of half an average ;
but, with journals in other districts, doubles that
amount, some of them more still, in the lamentable
case of one-fourth of an average only.
There is little change to report in public securi-
ties, but ou the whole it may be observed that
prices are weaker in Consols, and a fraction lower
than yesterday. We quote them now at 94i to 5
for transfer, and more for account, but money
transactions have taken place at the lower rates of
941 and They have more recently recovered as
above, and the market shows more firmness: India
Stock obtained 229, and Exchequer-bills were done
at 45., 55., and 6s. premium. Bank Stock, Re-
duced Threes, 3 per and
Cents.,-
Long Annuities,
are shut for the dividends, therefore without deal-

ings.
w -e rather a heavy
iT
eFryorleitigone
dMoainrkge. t
There
rather heavy,
Mott of the account
having induced many to close their speculations.
T tone l ih
in
1 -
Turkish
dealt in at
5
only
officiaslcrippr,icthee settlement
is
5.,
3 premium.
Thl24 e
a.
quoted 24k.
Greek Red Stock is at 51. Russian
The Spanish Certificates have bean
44 per Cents.
are worth 881. Dutch 4 per Cents, are at 93/.
The following are the nominal prices of Foreign
Stocks :—Grenada Deferred Bench 6 to 6i, Mexi-
can 2/ to 25, Peruvian 70 to 72, ditto 3 per
Cents. 4 51 to 53, Portuguese 4 per Cents. 40 to 42,
Russian 5 per Cents. 97 to 99, ditto 4i- per Cents.
88 to 90, Spanish New Deferred 18i to 18/, ditto
3 per Cents. 37i to 38, ditto Certificates 5,1 to si,
ditto Passive 31 to 41.
Railway Shares opened generally at a decline
this morning, and although firmer at the present
moment, they are not so good as they closed yes-
terday. This is most observable in Caledonian,
Great Western, Brighton, Manchester, Sheffield,
and Lincolnshire, and South Eastern. The French
lines are very dull and heavy.
Mining Shares are neglected, and in the Banks
and Land Shares the dealings are unimportant.

BRITISH FUNDS THIS DAY AT ONE O'CLOCE.
(Prom the Og.ica List.)

Tin Inns done.
3 per Cent. Consols Annuities
............ 2
941
India Stock
zz
Consols for Account 13th 5ept.,,,...... 29 5
Exchequer Bills, 2jd.
£lOOO.
......... 4 6
.1,!50-3
Email 4 6
5p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Creek Bonds, Red
Mexican 3 per Cent.
Russian Bonds, 1822, 5 per Cent. £ 5t..,,
Ditto 4i per Cent BBl
Spanish Committee Cert. of Coup. not fun 5 p 0
Turkish Scrip
nvidends on the above payable in London.
Dutch Exchange, 2i per Cent. 12 Gull
Ditto 4 per Cent. Certifieates.....
HALF-PAST TWO.
Consols
94$
Ditto September Account