The Sun.
London, England, 1853-02-10 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, Two o'CLocx.

The sales of cotton at Liverpool yesterday
were estimated at 5,000 bales, of which 1,000
American were taken for export and 500 on specu-
lation. The market closed heavily—American
under 52d., were in some cases nearly id. per lb.
lower. The sales comprised 4,000 American, 250
Pernam and Maranham at 61{1. to 7d., 200 Egyp-
tian at Gid. to 70., 500 Surat at 31d. to
and 100 ea Island is. Bd. to Is. 9d. per lb.
The railway share market opened flat, but closed
rather firmer.

The six weeks' average price of wheat is 465. par,
and the sales of the past woek, officially reported,
are 99,266 qrs.
Accounts from Russia state that a new law, re-
gulating the employment of children in factories is
coming into operation. After May next, 10 years
will be the lowest age at which children can be em-
ployed, and in May, 1855, none under 13 years,
and then only for seven hours daily, until they
reach the age of 14 years. There will be three
hours daily devoted to instruction. .

The agitation producedamong the speculators and
others in the city by the intelligence received from
Milan causes a revival of discussion as to the present
condition of the money market, and there is certainly,
so far as our observation and inquiry extend,
not the slightest cause at present for further action
on the part of the Bank of England. This day the
Directors of the Bank of England separated after
their usual weekly meeting, and as we anticipated,
have made no further alteration in the minimum
rate. Looking merely to the surface of things, a
contrary conclusion might be arrived at ; but, al-
though the demand for money is steady at from 2i
up to 31 per cent., according to the character of the
bills offered, and the date they have to run, we should
say that the banks generally have sufficient capital
to supply applicants for several weeks, even should
there be no Australian arrivals, without charging
more than they do at present. Of course, if bul-
lion leaves us steadily, and nothing returns, as a
mere matter of business, there will be more asked
for temporary loans, upon the ground that it is
necessary to check speculation. There is not the
slightest cause for action on the part of the Bank of
England. Everything at the present moment looks
dull, and rather tends downwards than otherwise,
although the demand for various staples to be con-
sumed immediately(is most healthy. The large em-
ployment of our population in the manufacturing
districts is sufficient cause for this. Speculation
for higher prices is at present perfectly harmless.
A little has been done in cotton, and that is almost
the only article that has been taken for " time."
The public sales of wool commenced to-day, and
these will absorb some amount, those of indigo being
also in progress willtemporarily attract capital, but all
these channels are sources of prosperity to the coun-
try at large. If the Bank were to administer a
further " corrective," as some parties would call
it, by applying the screw, there would be danger
of exciting a feeling of alarm which it might not be
easy to allay. In the Stock Exchange this morn-
ing cash is plentiful, at 1 per cent., and
even less, notwithstanding the settlement of
the account. The steamer Harbinger, to Austra-
lia, takes out a considerable amount bullion, not
yet precisely ascertained, but probably upwards of
400,0001. This' includes, we believe, the prelimi-
nary capital of one of the new Australian Banks,
and is therefore a special case. The Mining Com-
panies also are sending out funds to extend
operations with. In the meantime we are daily
expecting very large sums, not only by the steamers
that are nearly due froniPort Philip, but likewise
by the Roxburgh Castle and other sailing ships.
The settlement of the account in Consols has en-
grossed this morning the principal share of atten-
tion, and fortune, as upon so many previous occa-
sions, has favoured the " Bears.' The tendency
of prices was upwards until yesterday morning,
when the Milan news was received, and this im-
mediately checked the " buying back," and ren-
dered the borrowing of stock more facile. On
the other hand, probably, parties who had in-
tended to take up stock may feel timid, and
defer so doing for the present. In no other way
can be explained the easy settlement after the
recent heavy speculative sales. The weather this
morning is calculated to, aggravate the feeling of
uncertainty that prevails, and the general topic of
conversation is the possibility of a renewed and
general insurrection throughout the Continent.
Whatever may be thought of the chances of suc-
cess in such case, the mere apprehension is against
an improvement in values. Consols have been at
99i I, and since at 993 J for transfer, the quota-
tions for March being 99i 11. The new 31-
per Cents. have been done at 1031 to f,
and the Three per Cent. Reduced Annuities at 100
to Exchequer Bills of March have realised 535.
to 575. prem.
The Foreign Securities have been comparatively
neglected. The Swedish Loan is worth only 1i
discount, and the Turkish has not been lower than
discount. Grenada Deferred Bonds have been
at 11i, a decline upon yesterday's prices. Brazi-
lian Five per Cent. Bonds have been at 103. Rus-
sian Stock has been at 120 to 1201 for the Five per
Cents. The French Three per Cent. Rentes have
been done at 78 25, with the exchange at 25 20.
Belgian Four-and-a-Half per Cents. have been at
98k, and Dutch Fourper Cents. at 07i tog; Austrian
Scrip has not felt the slightest influence from the
Milan insurrection, being 8 premium.
The Mining share market is steady, and at
previous rates ; the Colonial, Mexican, and South
American, and British Australian Gold, have been
in some request.
The shares of the Australian Land Companies
are nominally rather flatter, but British American
Land are very firm.
In the Australian Bank shares there is nothing
doing.
The last week's railway receipts ascertained up to
this, day, are in round figures as under:--
1853. 1852.
Great Western 17,039 16,041
North Western 44,125 41,302
South Western 9,831 8,734
Brighton
Midland 22,009 20,233
South Eastern
Caledonian
Great Northern
Lancashire and Yorkshire 17,272 15,853
York and North Midland

Newcastle and Berwick 13,788 13,276

Railway shares, generally, have been good this
morning, and in some cases mark higher. Eastern
Counties are in request, and also Lancashire and
Yorkshire, North-Western, and York and North
Midland. French shares have been heavy within
the last half hour. The East Indian lines keep in
favour.

BRITISH FUNDS THIS DAY.
(From the official List.)

- Business done.
Bank Stock

3 per Cent. Reduced Annuities ll 100 991
3 per Cent. Consols Annuities
New 31 per Cent. Annuities.
Consols for Account 10th March 99s 1
Exchequer Bills 10. March. June.
£lOOO 56 73 2 6
Small 53 7
PRICE OF FOREIGN FUNDS THIS DAY.
Austrian Scrip, 5 per Cent 8
Brazilian Bonds, 5 per Cent.
Equador Bonds 5. 1
Grenada Bonds, Deferred,
Mexican 3 per Cent 22
Peruvian 6 per Cent.
Russian Bonds, 5 per Cent.
Ditto, 4i per cent lO3
Swedish Loan li 2 d
Turkish Loan, 6 per Cent., 1852 d 10i p
French Rentes, 4i per Cent DM 37ic Ex. 25f 15e
Ditto 3 per Cent 7Bf 25c Ex 25f 20c
Belgian Bonds, 4i per Cent. Ex. 25fr 9Bi 9 8*
Dutch Exchange 2i per Cent 65
Ditto 4 per Cent. Certificates.... ..... .
THREE O'CLOCK.

Consols
Ditto March Account

The accounts from the Continental Bourses to-day
were generally satisfactory. The telegraphic quotations
from Paris showed that the news of the Milan insurrec-
tion had made no impression upon prices. From St.
Petersburg the dates are to the Ist inst., when the rate
of exchange was again more favourable for this country,
the quotation being 38d. 13-16 to 1. Some consider-
able portion of the gold sent from London had also yet
to arrive. At Vienna yesterday. the money market re-
lapsed to its former state, the intelligence of the pre-
vious day regarding some probable adjustment of the
Montenegro question not having been confirmed.—

Times. -
THE FRENCH EMBASBY.—His Excellency the Count
and Countess Walewski are expected to arrive at the em-
bassy in Grosvenor-square to-day, from the French capi-
tal, where the count has been staying some time on
important political business relating, it is understood, to
the "ministerial question." The personnel at the French
legation now consists of M. E. Gaudin, chief secretary,
M. de faux, second, and MM. Bernon and de Viellur,
attaches to the legation.

AFFGHAN WOMEN.—They tie a black handkerchie
round their heads over their caps. They divide
the hair over their faces, and plait into two locks,
which fasten at tho back of their heads. Their orna-
ments are strings of Venetian sequins, worn round
their heads, and chains of gold and silver, which are
hooked up over the forehead, pass round the head, and end
in two large balls, which hang down near the ears. Ear-
pendants and rings on the fingers are also worn, as are
pendants in the middle cartilage of the nose, which was
formerly the custom in Persia and is still in India and
Arabia. Such is the dress of the married women ; the
unmarried are distinguished by wearing white trousers,
and by having their hair looses—Oriental Costume.