The Sun.
London, England, 1853-09-14 00:00:00

MONEY MARKET

AND
CITY INTELLIGENCE.

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool yeste;:day
were estimated at 4,000 bales, of which 1,000 Ame-
rican were taken for export. The market closed
heavily, and there was more desire to sell. The
sales comprised 3,500 American, 50 Perham and
Maranham, at 6id. ; 50 Bahia, at 6d. ; and 200
Surat, at 30. to 4d. per lb. Rr".way Shares
were again very depressed, at a decline of about
2 per cent.
The Panama has arrived from Sydney with dates
of May 7, and the Marion from Melbourne with
advices of June 4, but the amount of gold on board
is not known.
Pursuing the tenor of the observations which we
made yesterday under this head, it deserves to be
noticed that the rates of the Foreign Exchanges
were yesterday afternoon in several cases decidedly
higher. Paris, 90 days, was at 25 20 to 25 ; Am-
sterdam, 11 171 to 18; Hamburgh, 13 6,12. to ;
and Trieste, 10 58 to 11 2. Paris, short, was also
much better ; and the fact is undoubted, as we
stated yesterday, that a leading Hebrew firm sent
in 100,0001. to the Bank of England. The intelli-
gence this morning received that the Emperor of Rus-
sia has rejected the ultimatum, causes not the least
surprise, having been expected for nearly a week
past. Silver has declined /d. per oz., sales having
been made of bars and dollars at 600. to 6did.
Whether the demand will be renewed, depends upon
the news by the next overland mail. As to the
state of the discount market here, there is necessa-
rily a good demand, but the Banks have ample
means to supply it, and the only reason why
cash is not more abundant, is that the Bank
of England, it is supposed, may yet further
put up the rate ; therefore capitalists place their
money at " call" only. If the step is to be really
adopted within any short period, the sooner it were
done the better, as it would rectify the exchanges,
and produce altogether a better feeling. With
gold arriving, and still to arrive from Australia,
however, it might possibly happen that the Bank
would find itself above the market rate, or must
resort to the injurious step of another altera-
tion in a downward direction. It is sur-

prising to see such timidity prevailing, and
we have another example of the effects of
making money at one time excessively cheap, and
then, for want of precaution and foresight, having
very suddenly to raise it. Best bills are readily
discounted at 4 per cent., and others at something
above that quotation. There is not, however, so
strong a belief that the Bank will to-morrow raise
its terms.

The Gold Mine Companies of Australia seem
likely, although started much more recently, to
make as early returns as the Californian under-
takings. The Port Philip Company has received
12,0001. by the Marco Polo, being the produce of
gold assayed and smelted at the Company's estab-
lishment in Melbourne, and found to be 4g grains
better than standard.

The English Stock Market has been fluctuating,
and the uncertainty occasioned by the news of the
rejection of the ultimatum by Russia. There may,
however, be qualifying circumstances that will be
made known hereafter. In the " house," money
has been in more request, and the sales of stock
will account. Such a fall as has occurred is the
first for some years, and when the Eastern
question was far more threatening, the decline
was not nearly so great. As we draw
towards the period of the October dividends,
there will probably be a partial rally, for a great
and sudden fall is almost invariably succeeded by a
subsequent improvement, even if such be not long
maintained. Consols have been quoted 95i to g-
for transfer, and 954 to 95i for account. Ex-
chequer Bills have been at 3s. discount, and India
Bonds at 2s. premium.
The fall of 6 to 7 per cent. in Peruvian Stock in
the absence of real sales, and with the same confi-
dence as ever in its intrinsic value on the part of
the holders, utterly dispropo'tioned as it is to the
decline of I- to 1 per cent., and even less in other
foreign investments, has occasioned much surprise
on the part of the uninitiated, but upon inquiry
the matter is more readily explainedtban would be
supposed. A party who has been speculating
largely for a rise without adequate means,
appears to have become involved, and his
accounts being suddenly closed, there were
scarcely buyers on any terms, the Bears taking ad-
vantage of the circumstance. In the interest of
the real holder, it would be better if all mere spe-
culations for an advance were brought to a similar
close, as the Bears then would have to buy back,
and such undue fluctuation would not occur.
Peruvian being obviously very low, even in the pre-
sent state of the Money Market, capitalists would
buy if they saw themselves clear of weak time deal-
ers, as it is supposed they now will be, seeing the stop-
page of the party alluded to. There have been no
bargains this morning. Mexican Stock has ruled
at 24i to 1. Grenada Deferred is worth 81 to 9.
Sardinian Bonds have been at 94. Russian Four-
and-a-Half per Cents. have been quoted 100 to 1,
a decline. Dutch Four per Cents. are 971 to 1.
Spanish Three per Cents. have realised 464.
Railway Shares are still subjected to much
vacillation, and prices have been unfavourably
acted upon by the embarrassment of one or two
minor dealers. The settlement of the account has
been in progress. The " contangos" have been
to per share generally. French shares have
been worse also.

The Australian Banks have been cheaper again,
and the Gold Mines dull. The Land Companies
also are heavy.

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

Business done.
3 per Cent. Consols Annuities 9si
3 per Cent. Annuities, 1726
fndia Bonds, 11000 ...... ........ ....
Consols for Account 13th October
Exchequer Bills, id.
£l000
Small

par
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Grenada Bonds, Deferred
Mexican 3 per Cent.
Ditto for the Account 24i
Russian Bonds, 5 per Cent.
Ditto 4i per Cent.
Sardinian Bonds, 5 per Cent 94
Spanish Bonds, 3 per Cent 46
Divldenas on the above payable in London.
Dutch Exchange, 2:i per Cent.
Ditto 4 per Cent. Certificates .
HALF•PAST TWO.

Consols 9sa
Ditto October Account 95,1

MARKRT NEWS-(THIS DAY.)

CORN EXCHANGE.

We were scantily supplied with home-grown wheats
to-day. Although the amount of business doing was com-
paratively small, factors were firm in their demands, and
Monday's prices were supported.
From abroad, 12,990 quarters of wheat have come to
hand this week. There was a slight improvement in the
trade, at very full currencies.
Floating cargoes produced quite as much money as
last week.

There was a fair inquiry for barley, but no change took
place in the quotations.
Malt changed hands steadily, at full prices.
Several large parcels of oats found buyers at full
quotations.
Beans, peas, and flour wore tolerably firm.

Whoat.
630

.ARRIVALS THIS WSEH.
Barley. I Malt.
1,190

English ..
Irish ....
Foreign ..

Oath. Flour.
50 1.020
900 --
9,180 --

12,9--30 I 430

WHITECHAPEL.

-- ---
A moderate business was transacted to-day, as follows :
Beef from 3s 2d to 3s 10d ; nuitton, 3s 8d to 4s 10d ; veal,
3s 4d to ls 6d ; pork, 3s 6d to 4s 8d per Blbs by the
Carcass.

BOROUGH HOP.
A few new pockets from Kent have changed hands at
lit. per cwt. The duty is called 155,001. to 160,0001. ; yet
the demand is steady, and prices are well supported.

CHRIST'S HOSPITAL.—On Wednesday, the 21st inst.,
being St. Matthew's day, the Lord Mayor, Aldermen,
Sheriffs, and Governors of the several royal hospitals,
are to attend divine service at Christ's Church, Newgate-
street, where a sermon is to be preached by the Rev.
George Buckle, M.A., late Fellow and Tutor of Oriel
College, Oxford. After which they are to repair to the
Great Hall in Christ's Hospital, where four orations are
to be delivered on the benefits of the royal hospitals by
four of the senior scholars, according to annual custom ;
in Latin by Henry Ludlow ; in English by John Wil-
berforce Doran ; in Greek by Henry Jevers ; and in
French by Claude Hubert Parez. Two odes will also be
recited, one in English on the " Last Days of King
Edward V 1.," by Charles William Paxton Watts, and
the other in Latin hexameters on "Liberia."
FURTHER DISCOVERIES OF GOLD IN SCOTLAND.—A few
days ago it was stated that a gentleman named Calvert
had discovered gold in Westmoreland and Cumberland.
It now appears that he has pursued his researches in
Lanarkshire and Dumfriesshire, in both of which dis-
tricts he has been successful in finding gold. In the Vale
of Menuich, at the Glendanan Burn, about four miles
from Wanlock Head, he obtained a piece of gold weigh-
ing 4 dwts. It was rough, and of a dark colour. At
Lead Hills the gold was of a lighter character. It ap-
peared to be generally diffused on the red soil resting on
the clay slates, chiefly running north and south, 4nter-
sected with quartz strings running in the same direction.
Mr. Calvert found gold in about 14 burns or rivulets,
mainly tributaries of the Elvin Water. and Glengo_acl nru. a
in.
Some of the quartz looked at was auriferous, and la
very flue gold disseminated it.