The Sun.
London, England, 1853-04-05 00:00:00

MONEY AND COMMERCIAL NEWS.

CITY, TWO O'CLOCK.

The sales of cotton at Liverpool yesterday
were estimated at 8,000 bales, of which 2,000
American were taken for export and on specula-
tion. The market closed tamely but firmly. The
sales comprised 7,000 American, 250 Pernam and
Maranham, at 6d. to 71-d. ; 1,000 Egyptian at
6d. to 10d. 3 • 300 Surat, at 3d. to 41d. ; and 20 Sea
Island, at Is. 9d. to 2s. per lb.
Railway Shares were dull at steady p ices.
The railway meetings announced aro the fol-
lowing :

Date. Place.
Aberdeen April 19, Aberdeen.
Dijon to Besancon April 18, Paris.
Grand Junction of France April 30, Paris.
Lyons and Mediterranean April 30, Paris.
Manch., Sheff., and Line April 13, Manchester.
North f France April 30, Paris.
Paris and Lyons April 7, Paris.
Paris and Strasbourg April 28, Paris.
Redruth and Chasewater April 9,6, Queen's-st.-pl
U. Thames-st,
Sambre and Meuse April 30, Jardines.
South Yorkshire May 12, London Tavern
West Flanders April 7, 61, Moorgate st
Ditto ...... .—..... .......... April 19, Bruges.
Ono of the questions that of late has excited cor

Company.

siderable interest, is the probable supply of food to
our Australian possessions, and perhaps some idea
may be formed of the probable course which the
supply and demand will take by what has occurred
in California. For a considerable period provisions
in the latter country were rather scarce and dear,
and great fears were entertained lest there should
be serious inconvenience felt. High prices, how-
ever, have had the usual effect of bringing forward
larger quantities for disposal, and at the latest date
in February the imports of flour and grain at San
Francisco had been very large. This was bringing,
the rates down a little more than the average pre-
vious to the speculations and advances of last June,
and in no other similar period, since the country
was ceded to the United States, has the fall in the
prices of the staple article been so great as in flour
during the first fortnight in February. Perhaps
this arises not so much from the low prices in-
variably resulting from the other extreme. The
result, in any case, must prove beneficial to the bulk
of the community who have been distressed by tie
scarcity and dearness of the necessaries of life.
Barrelled flour was selling at 12 to 13 dollars for
cho'ce brands. The s:;oek of domestic barley was
abundant, both for seed and consumption, and-
large arrivals were expected from South American
ports. Oats were being also regularly intro-
duced in almost every vessel, either in direct ship-
ment or as packing material.
The strong feeling of disappointment which
some parties express at the delay in the granting
of Charters to Australian Companies, requires to
be met by a few remarks in explanation. Every
letter from the Colonies shows us that there is a
determination to have the full control of financial
matters, and to as grit an extent as possible
the administration of political affairs also. The
colonies feeltheirpower and loudly-complain of being
ruled at a distance of 16,000 miles upon e ven their
local matters. It could not be expected, there-
fore, that they would view with favour the indis-
criminate granting of charters to every company
that applies for them. Accordingly, the Select
Committee of the Legislative Council of New South
-Wales in its report upon currency and banking,
emphatically request the Home Government not to
grant any more charters. It would appear that
netestambplliasthemd,enantsdhtahvaet
the
em generalannernb awnhki ienhg
thelawoilsd
older contempl,
realised their enormous profits, has given occasion
for jealousy and opposition. It does not follow,
however, that new banks cannot on this account
be established by English capitalists. The only
drawback is, that reference must be made to the
Colonies, and this is fully expressed in the follow-
ing official communication from the Board of
Trade :

" Office of Committee of Privy Council for Trade,
Whitehall, Ist April, 1853.

" Gentlemen,—With reference to the petition for a
charter incorporating the and which petition has
been referred by her Majesty to the lords of this com-
mittee for their consideration and report, I am directed
by the Lords of Privy Council for Trade to state to you
that my loids have forwarded the petition and draft
charter to the Colonial Department for the consideration
of the Duke of Newcastle, in order that, if he should
think fit, his Grace may communicate with the governor
of the colony to which the charter relates with reference
to the incorporation of the proposed company ; and I
am to suggest to you that the promoters of the
company should address to the Colonial Department any
communication which they may be desirous to make
upon the subject, and any observations which they may
desire to have forwarded with the draft charter, for
the consideration of the Governor of the colony.—l am,
gentlemen, your obedient servant," &c. &c.

The terms here are sufficiently unequivocal, and
tally precisely with the declaration of our Colonial
Minister, made a short fine back in Parliament.

It has been industriously stated, however, that
there are exceptions to this refusal, but we may
mention, upon the best authority, that the circular
notice was forwarded to the three following banks
on Saturday last :—Chartered Bank of India,
Australia, and China ; London Chartered Bank of
Australia ; Royal Australian Banking and Gold
Importing Company.
It may be further stated that the Chartered
Bank of India, Australia, and China was refused
as far as India is concerned in the month of Dec.
last, and that the application for the Australian
charter was responded to in the negative, as above
mentioned.

The Australian Consols Mining Company intend
to remodel.the concern, having introduced several
new directors, and contey Jlating a disposal of
ther landed property to ePgible parties. The capi-
tal hereafter will consist of the following :

Original shares of 1/.

Shares.

each 60,000
New shares of 11 40,000

Free 1/. shares to the
original holders,
-without further

payment

200,000

Shares

To be converted into
new 51. shares 12,000
To be called Si. shares 8,000

To be made 5/. shares 40,000

Total of new 5/. shares 60, 000

This represents a total capital of 300,0001., and
any bonus arising from the sale of the lands will
belong to the shareholders. As to the new issue
of shares (the 8,000), they, it is expected, will be
readily taken up by parties connected with the
company, and will Rot be issued before the free
shares are distributed to the holders of the original
shares.

The English funds have been dull, and there has
been less buoyancy in prices. Some discussion has
arisen as to, the meaning of the ChaPcel'o7 of the
Exchequdr ,in reference to the Consolidated An-
nuities Bill, and some imagine that the purchases
for the Sinking Fund will not hereafter be made
from the Commissioners' box. Exchequer Bills of
March are 7s. to uls. premium.
Foreign Stocks are well maintained still. Mex-
ican have been as high as 27i and 28. Grenada
are at,23i, and Peruvian Deferred at 63k. Spanish
New Deferred have been at 241. The Turkish
Loan is 2 to 2i premium.
The Gold Mine Shares have been inactive, and

the order from Sydney to sell freely of the Great
Nuggett Vein, instead of sending them over for
the di?posal of the shareholders, causes them to
rule irery heavy. This is precisely what we anti-
cipated at the time these shares were introduced
into the London market, and every word we wrote
upon the subject has been confirmed. A more fal-
lacious and rotten system than that of issuing,
Colonial shares at a high premium, cannot be con-
ceived. The accounts received by the Port Philip
Company are not very favourable, and the Colonial
Gold was dull.
In the Joint Stock Bank Shares there is a further
decline, principally upon the Australian Companies,
whether those which have already got their char-
ters are subject to modification we cannot officially
state ; but it is so reported, and it really seems as
though some power of the sort would have been re-
served by Government.
•The railways are quite neglected, but are rather
firmer in some instances.

BRITISH FUNDS THIS DAY.
(From the Official List.)
Business done.
3 per Cont. Consols Annuities
India Bonds, £lOOO ... ................... , 43
Ditto, under £lOOO 4B 3
Consols for Account
Exchequer Bills, lid. June.
£lOOO
£5OO
Small ll 7

March.
11 7
11 7
11 7

PRICE OF FOREIGN FENDS THIS DAY.
Danish Bonds, 3 per Cent.
Grenada Bonds, Deferred,
Ditto Ex Dec., 1849, Coupon..
Greek ex over-due Coupons
Mexican 3 per Cent... ....... ....... ............
Ditto Account April 15, 27 8 7g i
Peruvian Bonds, 1849, 41 per Cent.
Ditto Deferred, 3 per Cent ... MS
Portuguese 5 per Cent. 43
Russian Bonds, 5 per Cent.
Sardinian Bonds, 5 per Cent. 97*
Spanish New Deferred, 3 per Cent.. .....
Spanish Committee Cert. of Coup. not fun, 8$ 8 i p e
Turkish Loan, 6 per Cent., 1852 24 i 3 p
Venezuela Bonds 3?2. per Cent 391
Dutch Exchange 21 per Cent 65
Ditto 4 per Cent. Certificates...
- . TIIREE O'CLOCK.

Consols lOO 1
Ditto April Acc9Tit

St.
St.
St.
St.

5
St.
20
St.

St.
16
St.
St.

10
25
10
1.0.6

20
10
20
20

25
25
St.
50

261
13i
20
20
50