The Sun.
London, England, 1854-09-23 00:00:00

MONEY MARKET

• AND
COMMERCIAL INTELLIGENCE.

CITY, TWO o'CLOCK.

The sales of cotton vat Liverpool yesterday
were estimated at 7,000 bales, including 1,000
taken for export and on speculation. The market
was steady, but dull. Railway shares were very
heavy at a reduction of to 4 per cent.
The changes that occurred last week in the finan-
cial position of the Bank of England were not of
any moment in regard to the two principal items,
viz., the bullion and note circulation. Many
would have anticipated, however, an increase in
the former, owing to the large arrivals, but if the
exports have not kept pace with them, much of the
gold from Australia has only been paid into the
Bank within the last two or three days, and
will be brought into a future account. It
may even be affirmed that the return now
before us would have exhibited an increase
but for the extra amount of specie ordinarily
required about this period to meet harvest
disbursements. The public deposits are below the
sum that might be wished at this advanced period
of the quarter, having been about six millions
sterling on the 17th September, 1853. There will,
however, be three weeks' return yet before the
maximum is attained, and the question to be solved
is whether the receipts will amount to two millions
additional. The increase in the other securities is
proof of the continued demand for money, the pre-
vailing mistrust being an inducement to many of
our merchants to provide themselves with cash be-
yond what they may actually require. Compared
with the previous week the changes were as follows :

£19,583,385
38,565
13,279,370
42,449
Rest
Increase
Public Deposits 4,985,233
Increase 642,527
Other Deposits
Increase
Seven-Day and other Bills
'Decrease 35,976
Government Securities 10,996,955
Other Securities 15,353,432
Increase
Notes unemployed 7,049,425
Increase 41,265
The supply of bills upon the Continent was
larger yesterday afternoon, and higher rates were
consequently given for the pound sterling. Paris,
90 days, was at 25 271 to 30 ; Amsterdam, at 11
17i to 4 ; Hamburgh, at 13 6i to 61; Frankfort,
at 118- to ; and. Trieste, at 11 38 to 44. The
increased demand for money had naturally the
effect of inducing parties to draw more freely at
three months, in order to obtain the pro-
ceeds, and loan the same if not required
for, their own business purposes. Money
was particularly in request yesterday in the Stock
Exchange because of the instalment on the Turk-
ish Loan, but in discount circles it will doubtless
continue to be tightly held, while there is any ap-
prehension of failures. Gold is not now in de-
mand for remittance to the Continent, owing to
the improvement in the rate of exchange.
The directors of the Devonshire Great Consoli-
dated Mining Company, at their Board Meeting
held this day, declared a dividend of 9,2161., being
91. per share, out of profits from sales of copper
ores, sampled in the months of May and June last.
After payment of the same, there remains in hand
a balance of 25,2561.125. 9d. in cash. Ore bills not at
maturity, and reserved fund applicable to the gene-
ral purposes of the company.
The amount of gold exported from London di-
rect during the week to Thursday last was 26,953
ounces, and of silver 97,440 ounces, all except
480 ounces of silver going to the Continent. From
the outports a good deal has been sent away.
The Stock market is flat, and there has been less
doing. The foreign political news is not of a cha-
racter to stimulate speculation either for a rise or
fall, and the demand for money has more influence.
Consuls have been 95 to 951 for transfer, and 95i
to for account. Exchequer Bills have been 6s.
to 9s. premium.
In Foreign Securities there is no animation.
The Turkish Scrip has been dealt in at 31 to 3i
premium, and the Spanish Passive
Dutch Sardi-
nian Bonds have been 881, and h2i per
Cents. 62. These have been the only bargains.
The following are the nominal prices of foreign
stocks :—Grenada Deferred Bonds, 6 t
d ito Gi ;
Mexican, 24i to 25 ; Peruvian, 70 to 72 ; to
3 per Cents., 51 to 53 ; Portugueso 4 per Cents.,
40 to 42 ; Rnisian 5 per Cents., 98 to 100 ; ditto
4-1- per Cents., 87 to 89 ; Spanish New Deferred,
183. to 18i ; ditto 3 per Cents., 371 t 0133 ; ditto
Certificates, 5 to si; ditto Passive, 4 to 41.
Railway Shares have been declining again, and
are more abundantly supplied. The principal
transactions have been in Midland, North-Western have
,
South-Eastern, and South-Western. There
been lower rates accepted for French shares also.
The Mines are nomianal,
the Australi the Banks firman A, Cgricul-
rystal
Palace lower again, nd.
tural barely so good.

Active circulation
Decrease
Bullion
Decrease

BRITISH FUNDS THIS DAY.—CLOSING PRICES.
( Front the Oficial List.)
Bu Mess done.
3 per Cent. Consols Annuities .......... 90E 5
Consols for Account 17th Oct. ............... 95.
•
Exchequer Bills, 24d.
2500 .......................................... 6 p
Small ...................................... 69 p
PRICE OF FOREIGN FUNDS THIS DAY.
Peruvian Bonds, 43/4 per Cent. ..........•••••
Ditto 3 per Cent ................ ........ 52
Sardinian Bonds, 5 per Cent. ....... ...... 8S t n
Ditto Passive (Converted) ..................
Spanish Committee Cert. of Coup. not fun. 54 p c
Turkish Scrip —
Ditto for the Account ........................ 3 P
Dividends on the above payable in London.
Dutch Exchange, 2i per Cent. 12 Guil 62
TWO O'CLOCK.
Consols 95
Ditto October Account

I, 20.

-----
THE FAILURE OF MESSRS. DAVID SCOTT, RICHMOND,
AND Co.—There was a meeting of creditors at Man-
chester, yesterday morning, at which Mr. Broome, ac- ,
countant, exhibited a statement of liabilities and assets.
From this it appears that the liabilities are as follow
20
;1d : 4
Amount of book debts owing bythe firm, 42,924/. 7s. .
liabilities on bills in the bands of third parties, 150,3701.
,Q 9.
16s, lid. ; total, 193,2951. 4s. Assets—book debts
20
owing to the firm, 47,884/. 16s. ld. ; accounts drawn for
203
but not discounted, 27,472/. 16s. 3d. ; goods in the hands 10
of consignees, 8,6881. Os. 10d. ; goods, fixtures, and 20
miscellaneous stock in warehouse, 5,4111. 17e. Id. ; mis- 20
cellaneous property, 480/. ; bills and cash in hand,
3,4121. 165. ld. ; securities, 2,0001. ; total, 95,3411. 16s. 20
4d. apparent assets, to meet liabilities amounting to
16
193,2951. 4s. The current statements out of doors were
20
that the liabilities are between 450,0001. and 500,000/. ;
but this is explained by the fact that the house is in the
commission trade, and having power to draw upon the
parties for whom they have bought goods, their names 20
are on a large amount of paper—say 245,000/.—on sol-
vent parties, for money owing, and which will probably 10
all be met. A resolution was passed by the meeting ap- 20
pointing a committee to further investigate the accounts 40
and consider the best means of proceeding under the 20
circumstances. The meeting was then adjourned to the 20
6th October. We learn that the private estate of the 20
principal partner would not realise more than 10,0001. to 20
20
15,000/.
5
THE WHALE FISHERY.—The Sarah and Elizabeth 20
arrii ed at Vidlon Voe on the 18th inst., with 3,650 seals, 10
42 seahorses, 4 large whales, 5 unicorns, and 9 bears, 20
producing about 104 imperial tons of oil, and about 3i 20
tons of whalebone. On the 27th of May, she became
beset in Wide Bay by a large iceberg setting down upon
1081
her, and it was feared she would be lost. A great part
of the crew's clothes were got out on to the ice, the pro-
10
visions were taken out of the hold, and all were ready
4°6
to leave the ship ; but ultimately the berg slided clear
20
of her, without any serious damage having been done.
She got at liberty on the 14th of June.—Eastern
40
Counties Herald.
IMPORTANT IMPROVEMENT IN FISHING NETS.—A 40
very important improvement has lately been introduced,
with the best effect, in the manufacture of fishing-nets in 50
this quarter, by using cotton material in place of hemp. 25
Several of these cotton nets have been used during the 20
past season on the fishings of the Tay, and have answered
100
every expectation. They are lighter and softer, and
20
100
consequently easier to draw than the common hemp
nets, and are capable of being dried more perfeetiy, be-
sides possessing other good qualities which recommend 20
them to the general use of fishers. We have little doubt
teat the improvement will soon be extensively adopted. 50
—Perthshire Courier.111 1
5
LET OF SALMON FISHINGS.—The salmon fishine's
the river Tay, belonging to Sir John Stewart Richard- 100
son, of Pitfour, Bart., were let by public roup, in thel
Royal George Hotel, on Friday afternoon last, for the `un
ensuing fishing season, 1855. The room was crowded -26
with salmon fishers, and, after a keen competition, the 25
Pitfour fishing were knocked down to, the previous
tacksmen at 7101., being an advance on last year's rent 100
of 3061. The fishing of Poldrait, on the North Inch, I 10
was let at 1241. The last year's rent was 1301. For 5
the three-fourths of the ships fishing there were no
bidders above last year's rent and it was withdraWn it 25
being intimated at the same time that private offers 25
would be received for the ships fishing,—Pera Paper. ".
50