The Sun.
London, England, 1854-10-02 00:00:00

MONEY ,MARKET

AND
CO! MB'BCIAL INT ELLIGENC E.

CITY, TWO o'CLOCK.
The sales of cotton at' Liverpool on Saturday
were estimated at from 8,000 to 10,000 bales, in-
cluding 1,500 American taken for export and on
speculation. The market was more firm without
change in prices. The sales comprised GOO Pernam
and Maranham at 6d. to 7/d., 100 Bahia at 61d.
to 61d., 500 Egyptian at 51d. to 9d., 1,000 Surat at
3d. to 4/d., 80 Sea Island at 11id. to Is. 4d., and
the remainder American. Railway Shares were
steady.
The corn trade has ruled steady, and last Mon-
day's prices were well supported.
The report of the piece goods market for the
month which has just closed is thus given by Messrs.
M'Nair, Greenhow, and Irving :—" Since the date
of our last the tone and action of this market have
been of a remarkably checquered character. At its
commencement, and towards the middle of it, un-
doubted prevailing confidence had existence, and,
as a consequence, considerable transactions were
entered into. No doubt or hesitation entered
into these, neither was any material misgiv-
ing supposed to be associated with the sound-
ness of transactions which had, for a season,
the characteristics of sound and discretionary
operations. I declining and inactive state of the
cotton market had, however, induced greater cau-
tion, and circumspection had originated a belief
that lower prices for the manufactured article would
be soon rendered available. The market, in the
meantime, continued to be comparatively firm un-
til the announcement of the suspension of an old
and established firm with liabilities of unusual mag-
nitude became public. Its solvency necessarily en-
dangered the stability of other houses with which
it was connected. The result has been to originate
a degree of distrust and apprehension in this loca-
lity to an extent unknown since the memorable
year of 1847. Since the announcement the mar-
ket has been exceedingly dull and lifeless ; indeed,
transactions have been comparatively suspended.
Stocks so far continue to be much as they were a
month ago. It is only-that in some instances any in-
crease of supply can be met with. The consignments
made by manufacturers and spinners, which continue 50
tobeupon a large scale, contribute necessarily to the 15
present comparative scarcity. Were an active demand 25
for such goods to ensue, a rise would at once St.
take place. Blessed with a good and abundant 821
harvest, we may reasonably hope for an increased St.
demand for the country trade. So far, however, 2(5)
the operations of those engaged in it have not been [OO
marked by animation or activity." 6.4
2F
Tke American] advises to the 20th ult. still 50
represent the Stock market us being tight, and a 20
good deal of specie continued to be exported to
Europe. Public securities had fluctuated con-
siderably. The following is a gloomy picture, by
a Now York writer, supposing it be not exag-
gerated:—
" Our internal financial affairs are by no means in a
favourable condition, and the future is not free from
serious apprehension. Our shipments of specie have
reached an alarming extent, and are likely to increase.
Our home supply of breadstuffs is likely to be sufficiently
limited, to enhance prices for domestic consumption, and
cut off our own exportations almost entirely. While
our exports, in the aggregate, will, without date, be
largely reduced, our importations are likely to be un-
usually large. Cheap prices for food in England will
stimulate productions of all kinds of fabrics, and as the
manufacturers on the other side generally look to tbis coun-
try for markets for all their surplus products, we shall proba-
bly find the present system of forcing sales through our auc-
tion houses a fixed fact for more than one reason. The
country at large is deeply in debt. Individuals, corpo-
rations, and states are all involved, more or less. beyond
their available means of payment, and must undergo the
process of contraction and liquidation. This must tend
materially to the reduction of actual consumption, if not
to the supply. Hardly a section of the country has
been free from disaster. Freshets, panics, fires, droughts,
disease, hurricanes, blight, mildew, and rot, or something
else destructive to life and property, have swept over the
land, spreading desolation and despair in its course ;
and the effect upon the prosperity of all classes cannot
be otherwise than of an unfavourable character."
The arrivals of emigrants at New York had been
217,662 persons this year to the Gth Sept., being
an increase of 22,565 over the corresponding period
of 1853.
The accounts from Melbourne by the Overland
Mail, are to the 23d July. Owing to the badness
of the roads as usual during the winter season,
trade was exceedingly dull, and large as were the
imports of 1853, those of the first quarter of the
present year were still greater, being at the
rate of twenty millions sterling per annum.
The stocks, consequently, were very large, and
prices were depressed for nearly all articles, when the
spring came on an improvement would occur,
but low prices are almost certain to continue.
The country at large, and the miners in particular,
will derive the advantage of this, and the new
" diggins" discovered could be profitably worked
at a much smaller cost. The government expendi-
ture likewise will be reduced. Mercantile failures
of minor houses were spoken of.
At Sydney business was dull also, but in a
sounder state than at Melbourne.
The English Stock Market has been subjected 100
to considerable fluctuation, but there has been 20
more agitation than business. Before the opening hi
of the Stock Exchange great enthusiasm prevailed, 25
the National Anthem being sung by a large num-
-100
ber of the members present. Consols were done
at 95a A for Transfer, and 95a to 96 for Account, 10
20
but they are now 95g for the former, and 951 to 2
951 for the latter. The New 21 per Cent.
20
Annuities have been at 82 to 82k. Exchequer
Bills have been at Bs. and India Bonds at 10s. p.m. 100
Foreign securities have been inactive. The 100
Turkish dcrip is buoyant ; however, having been 100
4k, though since only ai to 31 pm. Spanish New 100
Deferred Bonds have been at 18- IT. Danish Five 20
per Cents. have been at 1001. Dutch Four per 100
20
Cents, have been at 921 to 93 ex dividend. 5
The following are the nominal prices of foreign
stocks :—Grenada Deferred Bonds, 51 to 6i ; 20
Mexican, 24i to 25 ; Peruvian, 70 to 72 ; ditto 4
per Cents., 51 to 53 ; Portuguese 4 per Cents., ,2,(i
40 to 42 ; Russian 5 per Cents., 98 to 100 ; ditto '2-c
4i per Cents., 87 to 89 ; Spanish New Deferred, 2(
18g to 18i ; ditto 3 per Cents., 371 to 38/ ; ditto fi
Certificates, 5 to 5i ; ditto Passive, 4 to 4i. 21
The Railway Share market has been rather bet- 2(
ter, the advance in the funds having had a good 21
effect. The chief transactions have been in Cale-
douian, Great Northern, North-Western, Midland, 2'
and South-Eastern. French shares have been
firmer. The Luxembourg are better.
The Mining shares have been very quiet, the 2
Banks are nominal, and the Crystal Palace rather
higher. 1
9

50
50
20
20

20
20
10
10

BRITISH FUNDS THIS DAY.—CLOSING PRICES,
(From the Of.icial List. )

Business done.
3 per Cent. Consols Annuities 95 i I I
New 2/ per Cent. Annuities
India Bonds, £lOOO —
Ditto under £lOOO lO p
Consols for Account 17th Oct.
Exchequer Bills, nd.
£lOOO
8 5 p
Small p
Exchequer Bonds 1858, 3/ per Cent. 99k
Ditto 1859, ~
PRICE OF FOREIGN FUNDS THIS DAY.
Danish Bonds, 1825, 3 per Cent —
Ditto 5 per Cent
Mexican 3 per Cent.
Peruvian Bonds, 4/ per Cent. 7O/
Spanish New Deferred, 3 per Cent. lB3 k
Turkish Scrip
Ditto for the Account
Dividends on the above payable in London.
Dutch Exchange, 2/ per Cent. 12 Gull ..... _
Ditto 4 per Cent. Certifieates
THREE O'CLOCK.

Console 9ss
Ditto October Account

THE GENERAL THANKSGIVING.—Yesterday wag the
day set apart by authority fora national thanksgiving
for the abundant harvest, but the intelligence which ar.
rived on Saturday of the success of the allied forces in
the East, imparted much additional importance to th 3
services, and the whole of the metropolitan clergy, while
they read the thanksgiving prayer, prepared in obedience
to the Order in Council by his grace the Archbishop of
Canterbury, also read that which offers thanks for vie.
tory in time of war. St. Paul's Cathedral, Westminster
Abbey, and most of the large parochial churches were
crowded with worshippers, and at nearly all collections
were made on behalf of the poor women and children
whose husbands and fathers have fallen by alp pestilence
or perished by the sword. There was full choral service
at Westminster Abbey, and in the parish and district
c&rehes throughout the metropolis collections were
rilikdo for the soldiers' Trim and ohildron.