The Sun.
London, England, 1853-11-28 00:00:00

MONEY MARKET

AND
COIIiME.RCIAL INTELLIGENCE.

CITY, TWO O'CLOCK.
The sales of cotton at Liverpool on SaturdaY
were estimated at 7,000 bales, of which 2,000
American were taken for export and on speculation.
The market closed heavily, but without change in
prices. The sales comprised 6,000 American, 150
Bahia, at 6d. to 6/d., 250 Egyptian, at Sid. to
7241., 500 Surat, at 26d. to 3id., and 50 Sea Island,
at is. 6d. to 2s. 9d. per lb. Railway shares were
rather firmer.

The corn market is dull this morning.
The steamer Africa brings 500,000 dollars from
New York, but as the exchange on London seems
declining, a curtailment of future specie imports
from America is probable. Money was getting
easier at New York.
The clipper ship Indian Queen has arrived at
Liverpool from Australia, but her letters are no',
yet in town. The steamer Victoria ought to arrive
in a week or fortnight with September accounts.
The advices from the Continent report no gTe'
change in the mercantile markets, but the price
of food appears to be declining.
A pamphlet on Railway Dangers, and how' to
avoid them, by Mr. William Pters, gives maul
hints to passengers as to the proper mode of acting
upon particular emergencies, especially where,
trains are brought to a stand-still ; and as so map;
City men travel by express trains daily, and for
years in succession, their perusal will be useful,
because the result of experience.
The fact that on Saturday the remaining portion
of the 800,0001. obtained by the Russian Govern'
meat through the disposal of its Exchequer
was shipped off; excites much interest because If
paves the way, as is thought, for a new loan. m
already, and in the commencement of the war, $
scarcity of money is experienced at St. Petersburg'
it may be readily comprehended that no vigorous
measures can be prosecuted without a much larger
sommand of means. These, according to report, would
be obtained by a loan of five millions sterling. ft
may appear absurd, in the view of many persons'
to think of borrowing for Russia at the time she is
waging an unpopular war against one of our allies,
but unfortunately there is no patriotism in these
questions of profit and loss, and it would be Wm-
partitively easy to raise the loan, and morally oet
tain that our capitalists would be the first to sub'
scribe. If they reflected well upon the position
of the Emperor, and could be assured of what
every impartial person believes, viz., that the Pe;
cuniary resources of Russia are limited, they wool'
then probably be less disposed to subscribe, but
they look to the fact that Russian Five per Cen",
Bonds are saleable in the London money mark
at ill, and that the interest is regularly paid '
Another motive for subscribing would be that they
already hold Russian Stock which, upon a net
loan being contracted, would drop 4 or
per cent., and that to indemnify themselves
for this loss, they must take a further stakeat the low rate of emission which would e:
the temptation for accepting the new stock. Many
4
conceive that no English firm of standing wont"
like to brave public opinion by undertaking ,the
agency, but a facile mode of surmounting this olr
stacle is by contracting the loan abroad. The
Vienna or Amsterdam markets could be resorted
to, and the great houses there located would in;
struct their correspondents in London, Paris, and
other cities, to open private lists for subscribers'
It would then be intimated to the friends and
connections of the parties co-operating, that
as a favour they might obtain a Ow
amount of the valuable security, and we yell:
ture no rash opinion when we assert that in one
day all that was required would be applied for'
In tracing this outline we are not seeking to et'
courage the attempt, but rather to satisfy Oe
doubting that there is no security against it excel)
the power that the Bank of England can eXereige.:
and even this is not in such cases adequate to AN
the evil. By keeping discounts high, selling stoat,
withholding accommodation from the higher classt'
capitalists, who would be most likely to engage
such operations, and otherwise ren3ering home 1,!1_:
vestments attractive, some little check would be
imposed, but not, we fear, sufficient to accomPLff
the desired end. The most to be expected, probe'
bly, is, that Russia should be made to pay as dean.'
as possible for what she requires. The shipment
of bullion are expected to continue this week,
The following are the railway " calls" due n 2 De-
cember

*Central Peninsula of Portugal... 6...2 08* do....unko4°°
*Great Indian Peninsular, new
capital 000
East Grimstead
Irish South-Eastern - Lancaster and Preston, 1111.
Limerick and Foynes 1...2 0 0... 10,400
Manchester, Sheffield, and Lin-
„e 0
colnshire, 61. Pref.
Midland Great Western, 50/. 15...2 10 0... 50,09„,
Do. do. 251. 15...2 10 0„, 40,000
*Paris and Strasbourg, Bonds of
1852
10...5
0 41..250'000
Shrewsbury and Chester, 5 per
Cent., Red Pref. 31...2 0 0... 15,228
Whitehaven 'and Furness Junc-
gsoo
tion, 101. Pref.
* The proportion called by Foreign
Companies is 350,0001., but the
holdings of English Proprietors are
not known

798,246
Total called in 1853 £11,122,01'
The railway meetings announced are the Pr.
owing :

Company. Date. Place, Ste.
Eastern Union Dec. 16, Radley's Hotel.
Killarney Junction... Nov. 30, Dublin.
London and South-Western, Dec. 7, Lambeth.
Manch., Sheffield, & Linc Dec. 7, Manchester.
Waterford and Kilkenny Nov. 30, London Tavel•
West Flanders Dec. 13, 61, Moorgate'lit'
Ditto Dec. 16, Bruges.
The English Stocks opened rather firmer, Con'
sols being 95g but they have since gone back,
t°
95i g. Further sales for money have been ma
au
de'
as the Bears are supposed to have nearly
closed their accounts, there is less speculative buil;
ing. Nevertheless the rumours circulated °I,
Saturday afternoon, and which threw Jet
the funds from 95 and 96 to 95k
that the Russians had crossed the Dail"e•
and that a new loan was on the tapis,
not been confirmed. The new 3i per cell:
have been quoted 96 to 96g, and the 3 per cent'
94k to 94k. The premium on Exchequer
at ss. to Bs. East India Bonds have been done
par.
Foreign securities have been very quiet/ lici
8'
prices, consequently, have undergone no partieWif
change. Portuguese 4 per cents. have been at „
to ; Spanish 3 per cents. at 46 ; the Deferred ts,
22A, and the Certificate at si. Dutch 4 per ceT,4
have been at 951. Russian 44 per cents• keel) gl'l
at 98 to 99, and there are buying orders from
land.

In the railway market this is " making-up" 69,,,,5,ti
preparatory to the settlement, and scarcely STI,I,
business is doing. Prices are a shade lower, No
Western and the other principal lines being u'eff
ss. cheaper. In Belgian and French Shares sL,
little is doing. Royal Danish have been at
The Gold Mine Shares have been dulltelt
scarcely any bargains are noted in the Joint ~,
Banks or Land Companies.

BRITISH FUNDS THIS DAY.
( Prom the.Qficial List.) °.
Busu .."11
Bank Stock ... ......... ........ ................ 219
3 per Cent. Reduced Annuities 9l a 1
3 per Cent Consols Annuities 951 iil
New 34 per Cent. Annuities 96 I
Long Annuities, Expire sth Jan., 1860
Ditto 30 Years, Expire 10th Oct., 1859 5 14°
India Bonds, XlOOO —
Ditto,runder £lOOO par 3 p
South Sea Stock
Consols for Account
Exchequer Bills, ld.
£1000
2500 5 8 P
Small 5 8 P
PRICE OF FOREIGN FUNDS THIS MAI.'
Brazilian Bonds, 5 per Cent. —
Ditto New, 1852, 4A per Cent 96i
Buenos Ayres Bonds, 6 per Cent --
Ditto for the Account 6s} 5
Grenada Bonds, Ex. Dec., 1849, Coupon 2O j
Grenada Bonds, Deferred
ai 5 st*
Mexican 3 per Cent.
Portuguese Bonds, 4 per Cent 4lt 4
Russian Bonds, 1822, 5 per Cent. XSt lll*
Ditto 4i per Cent 99 8 , ...
Spanish Bonds, 3 per Cent 4B
Ditto for the Account 4O
Spanish New Deferred, 3 per Cent. 221 P j
Spanish Committee Cert. of Coup. not fun. 5*
Dividends on the shove payable in London.
Dutch Exchange,
95i per Cent. 12 Guil "al
.
Ditto 4 per Cent. Certificates .... MOO
THREE -
95
Consols ....................................... 951 I
Ditto December Account ................
—""----""'""--------:---- -----"--2-"-- . _ DOT!
AUSTRALIA. The Black Ball paoktturrovbell
Queen, from Port Philip, was telegraphed sue 1•
yeirsegrea.rAtiel...citisp....,,
alattelr2
news.o'cloc k
she yesterday.has
I '''
months and 10 days. . ......- -- -
maSdheethe'il will
roundbring yes