The Sun.
London, England, 1853-04-19 00:00:00

MONEY MARKET AND COMMERCIAL
INTELLIGENCE-(THIS DAY.)

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday were esti-
mated at 6,000 bales, of which 1,900 American were
taken for export and on speculation. The market closed
tamely, without alteration in prices. The sales com-
prised 4,500 American, 330 Pernam and Maranham at
6d. to 71d., 100 Bahia at 61d. to 64d., 400 Egyptian
at 61d. to ls. 2d., 300 Surat at 31d. to 41., and 200
South Sea Island at ls. 9d. to 2s. 6d. per lb. Rail-
way Shares were very inactive.
The elaborate financial statement of the Chancellor of
the Exchequer has necessarily been the subject of exclu-
sive attention in the City this morning, and, although
it is yet early to speak of such a complicated scheme in
all its details, and to assert precisely what the popular
feeling may be in reference thereto it would be as well
to mention what some parties think of the matter in
mercantile circles. As respects the income tax, that
is a question affecting the masses, and therefore
more properly left out of account in any remarks under
this head. The idea, among business men, has long
been that a property tax, upon a comprehensible scale,
would be very desirable; and they think, with Mr. Hume,
that this could be so levied as not to bear onerously upon
the wealthy classes, and yet to yield to the Exchequer a
very large annual revenue. Upon another portion of
the project we may say there is unequivocal satisfaction,
namely, the intention to abrogate the duties upon
articles which have proved so vexatious in the Customs
list, and which were a mere remnant of those anomalous
duties swept away by Sir Robert Peel. The collection
of duties and the convenience of the importer will be
alike consulted by the free admission of these various
items. Then as to the Tea Duty. All who have paid
attention to this subject are aware of the strong evidence
brought forward that there would be little danger in
an immediate and permanent reduction ; but as
this article has so long baffled the exertions of
the Customs reformers, many are thankful that an alter-
ation is at length decided upon. The soap duty is, per-
haps, the most important remission of the whole, the
manufacture of the article having yielded a profit so
absurdly low, thanks to the Excise restrictions, as al-
most to involve the danger of ultimate dependence upon
foreign supplies. The African trade, as the Chancellor
remarked, will be benefitted, and, it may be observed,
that in the north of England, where the preparation of
alkalis employ some seven or eight thousand persons, the
reduction will be a great boon. It is in a sanitary
point of view, however, that the abolition of the duty
will most meet with approval. The receipt stamp alte-
ration is one of considerable importance, and the only
difference of opinion seems to be with regard to the pro-
priety of affixing an ordinary penny stamp which might
be liable to removal either by design or accident.
The convenience of the plan, however, is uni-
versally acknowledged, and considering that receipts
on stamps are now scarcely given where cheques
pass, and that no jury would return an adverse
verdict upon proof afforded that such cheque had gone
into the hands of the creditors, it was high time that the
alteration
,was made. The life insurance duties being
modified will afford benefit, and the least encouraging
part of the statement is that leaving the paltry charge
of 6d. on advertisements, which will be as expensive to
collect as the old rate of is. 6d. Parties in the
habit of advertising eitensively consider that the
supplements might, for the present have been left un-
touched, since they affect so few newspapers, and that
the whole advertisement duty should have been taken off
instead. Whether the continuance of the income tax,
even its modified form will be held a sufficient compen-
sation for the taxes to which we have here adverted may
be better determined when opportunity has been given
for mature consideration and public canvass, opinions
being always crude, and frequently erroneous, when
based upon first impressions.
There has not been much business doing in English
Stocks, but generally they are a little weaker. The
prospect of the conversion scheme being carried is one
cause of support, however. Consols have been
done at 100 8f but since are as low as 100 1
for Money, the Time prices being 1004 to 101.
The New 31 per Cents., after being 1031 1, are now
1031 to / ; and the Reduced 3 per Cents., which were
1001, at present realise 994. Bank Stock has been firm
at 226 and 2261. India Stock is steady, at 262. Ex-
chequer Bills of June are ss. to 9s. prem.
The Spanish Certificates have advanced this morning,
being quoted 7to 71. The New Deferred Bonds are at
241. Peruvian Scrip is worth 34 to 4. Peruvian and
the Deferred maintains the advance to 67 and 67g.
Equador Bonds have touched 68. Grenada Active
Stock is worth 24. Brazilian New Bonds have been
991 to par. Mexican Stock is at 281 to g, and very
firm. Venezuela have been done at 384. Dutch Four
per Cents. have been quoted 961 to 971.
The market for railway shares has been very inactive,
but the quotations are firm, especially for North-
Western, Great Northern, Cork and Bandon, and Water-
ford and Limerick. The French lines also are higher
in some instances, including the Western and the
Beziers to Graissessac.

The Gold Mine Shares have been rather firmer, and
the Brazilian Cocaes has recovered a little.
The Land Companies shares are down 3/. to 5/. ; for
Australian Agricultural to A ; for Peel River and the
smaller shares in proportion. The British American
Land are duller.

Joint-Stock Bank Shares have been very quiet and
nominally rather heavy.

BRITISH FUNDS AT ONE O'CLOCK THIS DAY.
(From the Official List.)
Business done.
Bank Stock
3 per Cent. Reduced Annuities O9l 1004 99i
3 per Cent. Consols Annuities
New 34 per Cent. Annuities
Long Annuities, Expire sth Jan., 1860
Ditto 30 Years, Expire 10th Oct., 1859
Ditto 30 Years, Expire sth Jan., 1860 6 3-16
India Stock 262
South Sea Old Annuities
Consols for Account
Exchequer Bills 11d. June. March.
£lOOO.
£5OO
Small 9
TRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent. lOOl
Ditto New Bonds, 1829 & 39, 5 per Cent 00i 100 991
Equador Bonds
Grenada Bonds, Deferred
Ditto Ex. Dec., 1149, Coupon 24
Mexican 3 per Cent.
Peruvian Bonds, 4i per Cent. B9
Peruvian Scrip 3 4 p
Peruvian Deferred 3 per Cent.
Spanish Bonds 3 per Cent 4B
Ditto New Deferred, 3 per Cent 241
Spanish Committee Cert. of Coup. not fun. 7a 7 p c
Venezuela Bonds, 3A per Cent.
Dutch Exchange, 2i per Cent. 12 Guil. 66t
Ditto 4 per Cent. 97i 6i

Consols
Ditto May Account

HALF-PAST TWO.
1001 a
100#

ELECTION COMMITTEES.-(THIS DAY.)

BARNSTAPLE.
This committee resumed this morning at 11 o'clock, and
the cross-examination of Adam Britton was continued.
The witness denied having received any money for his
votes, but gave his evidence with great apparent reluctance.
T. Power deposed that he came from Swansea to Barn-
staple to vote. His expenses were 125., and he received
101. He was paid at the Shipwrights' Arms. Had re-
ceived a similar sum in the same way some y ears back.
Cross-examined—lt was in 1841 that he got the 101. be-
fore, and at that time received 151. more for voting for Mr.
Fortescue, Lord Ebrington's brother.
William Popham—Was not a voter. Knew Thomas
Drew, a freeman of the borough. Drew borrrowed money
from him a day or two before the last election. A question
here-arose as to the 'legality of a question put to the wit-
ness, and the learned counsel were arguing the point when
our report left.

COCKERMOITTH.
At the meeting of the committee this morning Mr.
Welby proceeded to sum up for the petitioners.

MAYO.
At the sitting of the committee this morning,
Mr. Murphy, treasurer of the Mayo Independent Club,
was examined. He stated that the Mayo election was carried
on by the Independent Club on behalf of Mr. Moore and
Mr. Higgins. Archdeacon M`Hale was the chairman, and
all the priests were ex officio members. Mr. Higgins was a
member ' • Dean Burke, Father O'Connor, Father Monarch,
and Dr. Costello, were members. The subscription was
10s. and upwards, but no subscription had been paid since
1847. Before the election witness gave Dr. Costello
801. to meet the expenses of two baronies, also gave
Father Durkin 401. for another barony. Dean Burke
had 401., and Father Hardeman, Mr. Moore, and Mr.
Higgins, paid 4001. into witness's hands before the election,
not, however, as treasurer of the club, but as trustee for
the candidates. It was, however, expended under the
direction of the club, and it was in consequence of a stipu-
lation with the club that Moore paid.
The witness was under examination when our report
left.
MARKET NEWS—(THIS DAY.)