The Sun.
London, England, 1854-01-21 00:00:00

MONEY MARKET

AND
COMMEi?CIAL INTELLIGENCE.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were
estimated at 6,000 bales, including 1,000 for ex-
port and on speculation. The market closed firmly.
Railway shares were dull.
In another column will be found the particulars
of a new undertaking, the Port-Tennant Patent
Steam Fuel and Coal Company. The rapid in-
crease in the consumption of • prepared fuel offers
an excellent opening to any parties possessing the
means of accomplishing the principal desiderater,
viz.:-1. Freedom from spontaneous combustion ;
2. Economy of space in stowage ; 3. Less waste,
either by friction or decomposition ; 4. Saving in
the wear of boilers and fire bars. The promoters
of the Port-Tennant Company claim to have ob-
tained a patent which effectually meets this case,
and estimate their profit at is. 3d. per tou.
The return of the Bank of England for the week
to the 14th inst., shows important changes con-
trasted with the previous statement. The pay-
ment of dissentients to the conversion, and of divi-
dends, occasioned an immense decrease in the
public deposits, and led to a large increase in the
private balances. The sum of the Government
securities being so materially curtailed, it is pre-
sumed the Chancellor of the Exchequer paid off
part of the advance obtained from the Bank, but
those who borrowed upon stock while the transfer
books were closed also refunded, and the same
cause explains the material reduction in the dis-
counts. The bullion account looks well, compared
with the former week. The changes are as fol-
lows :

Active circulation
Increase
Bullion

£21,940,825
592,625
. 16,069,132

Rest

Increase

Increase 238,060
3,295,813
47,919
Public Deposits 3,213,993
Decrease
5,078,000
Other Deposits
Increase 1,395,858
Seven-Day and other Bills
Increase 17,270
Government Securijes 13,644,025
Decrease 1,189,274
Other Securities 14,663,295
Decreace 2,073,114
Notes u nen, Yoyed 7,443,015
Decrease 357,585
In the Bankers' Circular we find some very
elaborate statements upon the " commercial inte-
rests of Europe under war." We especially acqui-
esce in the justice of the remarks as to the direct
advantage which France derives from keeping
friends with England. We will not assert that no
better motive should guide her, or that we, like-
wise, have not an important stake, politically
speaking at any rate ; but the following observa-
tions of the editor precisely explain what is meant :
" This is not a time when the public mind should be

blinded tothe manoeuvres that are practised to divide

France and England on these points ; nor should
any political scheme be allowed to convert the
affair between Turkey and Russia into a reason for
breaking up an alliance with the present Govern-
ment of France. It is perfectly clear that the
Princes of the Bourbon family are staking their

future political existence on the chances of another
revolution. It is equally certain that they are
aiming at some alliance with a power, by whose aid
they can overthrow the Napoleon dynasty. The
goal of their ambition, therefore, can only be
reached by bloodshed and anarchy, and by renew-
ing those scenes of horror which have so frequently
been witnessed in the French capital. It is not
improbable that the party desirous of changing the
relative position of England and France in a poli-
tical point of view would endeavour also to strike
a blow at English commerce at the same time. But
our commercial relations with that country are
such, that the chief weight would fall on France
alone. For to no country is she indebted for her
successful commerce so much as to England. In
1849 her credits upon this country amounted to
209,000,000 f., while her debits amounted only to
60,000,000 f. ; or, in other words, France imported
from England in that year to the value of about
2,000,0001., and exported 8,360,0001. And of 12
of the principal countries trading with France,
England stands the highest. While Russia has
been proposed as an ally of France, the
relative commercial position of the two coun-
tries may be contrasted with some interest.
The follow statement shows the extent of the ex-
ports from France : _ _

1849. 1851.
Exports from France to England £8,360,000 11,720,000
Exports from France to Russia.. 760,000
The navigation of France with this country, is no
less indicative of the importance of French com-
merce with England, taking the countries as they
stand in order. What has France, then, to gain
by an alliance with Russia, or by rejecting the
friendship of England ? The answer is found in
the facts we have enumerated, for it may be seen
that with this country, the United States and
Belgium, she carries on half the annual value of
her commerce."

Bills of Exchange upon the principal continental
cities were drawn here yesterday afternoon at full
rates generally, Trieste being as high as 12 25 and
35 ; and Paris, 90 days, 25 27 to 30. Amster-
dam was at 11 15i to 16, and Hamburgh 13 4
to 4-k.

-- -
Messrs. Haggard and Pixley quote bar silver
ss. 11d. and dollars 4s. Hid.. All the gold per
Mercia from Port Philip has been taken for exporta-
tion to the Continent.
There was a dividend of 91. per share declared
yesterday by the Devon Great Consols Company
out of profits realised in September and October
last ; and the balance after payment thereof was,
in bills and cash, 20,6041.
The amount of silver exported from London
during the week ending Thursday, was 71,200
ounces, and of gold 3,805 ounces.
The fboylloi‘r.
wiingj.psai..tLicaurilaers:_of„
Inquiries for shares
the market are fur-
nishedto-day have been limited, and there is great
iinac-
tivity. The following have been dealt in :—Tre-
lawnley;,s4aOrt4rlid;geAclforends., 1Co41.; Mollaud, ;26 26} ; North Dam-
sel,Tassan
Lead, i ; Arundell United, 265. to 30s. ; Treleigh
Cons., 30s. to 355. ; Angarracks, 15s. to 1/. ; East
/ I
Russell, 661 ; Wheal Sarah, 1 ; Mollands, Sart-
ridge Cons., and Trelawneys, are most in favour.
The English Funds have been rather fluctuating
again, Consols, which were 92, being now 91 .
For account the quotations are 911 i. Bank
Stock is worth 216 to 217-i. India Stock is weak
at 238. Exchequer Bills are at 7s. to 10s. pre-
mium. South Sea Stock has improved to 115 and
116.

There is a moderate business doing in Foreign
Stocks, but prices are heavy. Buenos Ayres Bonds
are 1 per cent. lower, being 60, and Mexican are
weaker at 238 Peruvian Bonds have given way
about 1 per cent., viz., to 661. Russian Five per
Cents, have receded to 1081 to 108 g. Spanish
Three per Cents. are depressed, being 41k, and the
New Deferred 20k. Venezuela Bonds are 27±,
and Austrian Five per Cents. are quoted 72.
There is rather an improved tone in the Railway
Share Market, but dealings are limited. Bristol
and Exeter have risen 58., and South-Western,
108. The other lines are mostly very firm. French
lines are supported.
There is not much doing in Gold Mine shares,
and prices are without variation.
Joint Stock Bank shares are neglected.
The Australian Agricultural shares are about
10s. flatter, but the Peel River are steady.

IiBRITISH FUNDS THIS DAY AT ONE' O'CLOCK.
(Pram the Official List.)

Business done.
Bank Stock
..
....,
...... ........• 217 i 16
i per Cont. Reduced Annuities 924 2
3 per Cent, Consols Annuities 914 i 2 1i
Nov 31 per Cent. Annuities 93s 3
Gong Annuities, Expire sth Jan., 1860 , 5 3-16
India tock
South ,ea Stock
Consols forlAccount 15th Feb. 92 li i
Exchequer Bills, ld.
£l000
£5OO lO p
Small lO p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Buenos Ayres Bonds, 6 per Cent 6O
:Mexican 3 per Cent.
Peruvian Bonds, 41 per Cent.
Russian Bonds, 1822, 5 per Cent. £ St, lOBl 8 i
Spanish Bonds, 3 per Cent 4l
Spanish New Deferred, 3 per Cent........,, 2O
Venezuela Bonds, 3# per Cent.

Dividends on the above payable in London.
Austrian Bonds 5 per Cent. 10 Gu. 2. ...... 72

TWO O'CLOCK.

Consols 9li i
Ditto February Account •, • 9ll