The Sun.
London, England, 1849-08-13 00:00:00

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
There was a good demand for Cotton at Liverpool on
Saturday; the sales being 10,000 bales, which included
6,500 American, 700 Pernambuco, 400 Bahia, 300 Egyp-
tian, and 1,000 Surat. The market was firm and prices
steady.-..-In Railway Shares only a limited business was
done, and prices remained without alteration.
There is but a slow trade for grain to-day, and at
about last week's decline. One hundred quarters of new
wheat sold at from 503. to 51s. per quarter, being from
sent and Essex.
Parties who invest in shares too often forget the
"calls" that (will ensue. A man who takes
fifty shares of 201. each, with a deposit of 21. per
share, has his attention mainly directed to the payment
of the first 100/., and he reflects but little upon the re-
maining 900/alwhich have to be paid at some future time,
and when that time arrives he discovers that he has made
a great mistake in failing to consider when he took the
shares whether he had 1,0001. available for the purpose.
The great difficulty which capitalists now feel is the
want of a channel in which to invest without the fear of
future responsibility of this kind, and the first and most
complete plan of meeting this difficulty which we have
seen, is that of the Islington Cattle:Market and Abattoir
Company, in which the shares are fixed at 11. only,
thereby avoiding future calls, and preventing the pos-
sibility of the inconvenience consequent thereon. The
Party who has Si., 201., or 501. to spare can invest it with-
out the slightest apprehension of being called upon at an
inconvenient moment for a further contribution. We are
Much misteken if thie principle will not be geaerallyedopt-
ed as calculated to meet the cireuenstancesof the times. In
respect to the merits of the Islington Cattle Market and
Abattoir Company, we cannot omit the opportunity of
observing- that a more legitimate scheme was never pro-
Posed to the public. There is a valuable property al-
ready inexistence with the privileges of a market conferred
upon it by Act of Parliament. The buildings are already
erected, the work is done, and so soon as the purchaseeis
completed, the shareholders will be in possession of an
estate which is now producing a certain amount of
revenue, and which will be greatly increased
.by the
. removal to it of the business of Smithfield Market, which
there is no doubt will be effected in the next session of
Parliament. It is not a little singular that Liverpool
Should have formerly been situated precisely as London
now is. The Cattle Market was in the centre of the
town, it has been removed to the suburbs, and the re •
suit is that the 251. shares pay a dividend of 21. 18s.
per share per annum (upwards of 10 per cent.) exclusive
of the abattoirs, which are paying twenty per cent. in
addition to the shareholders. The butchers of the me-
tropolis are a numerous, opulent, and influential body,
upwards of 1.500 in number; they ought to have a voice
in the management of the great metropolitan cattle
Market, and we shall be surprised if they do not.
Better invest your capital in the promotion of useful
undertakings at home, with the land for your security,
than speculate in French or Austrian loans.
Further accounts, a day or two later in date, have
been received by tl.e ship Devonshire from the Cape of
Good Hope. The movement against the introduction of
e°cviels continued as strong as ever, and even the Hot-
tentots had petitioned against it. The colony generally
continued prosperous.
/‘rom Sydney we have accounts of April 14, and from
the Mauritius of May 12, but we glean nothing from
them in addition to what has already come to hand.
Our Continental news is not of political interest. From
Antwerp we learn that the commercial markets were
quieter last week. The new process fur the manufac-
ture of indigenous sugar is patented by the Belgian in-
/'entor, and will be introduced probably into other
countries.
, From Valenciennes we learn that there were excel-
lent harvest prospects. Clover was abundant and of the
Lest quality. The cutting of Wheat had commenced,
and would be completed within about a fortnight,
the yield appearing to be all that could be desired, pa
tetees generally were sound, and all other products mag-
nificent.
There is no account yet of the steamer from Halifax,
but she is not to be considered due.
Messrs. Railton of Manchester are still urging their
friends, and all conr ected with railways, to inquire
diligently into their affairs. They write that-
: " Until the large proprietors of railway stork assist
lrilPreYraling committees of investigation, till every
way
in the kingdom has passed the ordeal, cunfi-
denee cannot be so perfectly restored as is absolutely
requisite
to support the true value it ought to bring. If
t railway has been well managed, it will have nothing
~° fear; but, if otherwise, the sooner its real position is
snosia the better for general satisfaction ; and, for the
restoration of confidence, let every shareholder, on all
Propero, occasions, vote for the appointment of Committees
i Investigation."
The state of the railway share-market in general is
likely to be influenced by the balance-sheets that wilt be
submitted at the forthcoming meetings of the large cone-
Peal'ies, and probably there may be a tendency to exag-
gerate the temporarily unsatisfactory position in which
they are undoubtedly placed. One might inter from
actual
excellent traffic going on, that there would be an
"ti?tual improvement in the amount available for
dividends but past extravagance or mistakes
ceutralise the advantage of this, and only serve
at Present to assist in bringing the line round to
~11 Wholesome condition. The North-West rn Com-
pany will eaetintes to pay 7 per cent., and shows a
surplus, and parties who have anslysed the account
think it fair under circumstances. Most likely this line
Will improve in productiveness. The South Western
1.5115 off again, and cannot pay much more than 3 per
cent. per annum at present, or more strictly 1 66 for
t 1.,, 1, it
just te-yrr A large amount of capital, however,
g s lo ear a citvidenn, atm capital, however,
Oil
th, r - . .
Ines which it represents is not developed. The
for the
Western pays but two instead of three per Cent.
or the six months to the 30th June last, and whether a
recovery is to be shortly expect ,d, is more than we can
xipturruebatboilsz. Investigation by a committee may in
be decided upon in most of the lines, and
e." do not see why even the best managed should be au
~,,..ePtion. So:nething is wanting to give confidence, fur
fir" Way property can no doubt be made to rest on a
eller le s4S'
IS.
al
lt, is stated that the directors of the Great Northernc
o waY are likely to negotiate with the Aberdeen
th ll'PallY to secure the English traffic in connexiop
keirdwith, but the North \Vesteru, &c., are also in the
lh:fre is very little doing in the Funds, and the settle-
mentßet of the account has occasioned some flatness, Bull
oVeelliations having been rather extensively prosecuted
senate- The continuation to September is about 4 per
bit e and last week even 3-16ths was given. Consols
of." been 924 all the morning. There is en absence
9political news. The New Three-and-a Quarter per
2inta• have been 934 to 4, and the Three per Cents.
25,7 is Bank Stock is firm at 1994, and India Sock at
br'z to 254. Exchequer-tills have ruhd at 46'. to 495.
''Pllim, and India Bonds at 78s. to-80s. premium.
~ the Foreign Securities have been heavier, in conse-
quence a the depression in Consols. Spanish Five per
Lents. have been marked 184 4-, and the Three per
Cents., 344. Portuguese Four per Cents. are nominally
4/ to 294. Mexican have been 264 to 274, and Peru-
el
au 5141 to -4. Equador are 31; Dutch Two•and es-
--"Ilf per Cents. are quoted 524 to 4,
hallway Shares are all very flat and lower.
tae•-•-.23'
ONE O'OCLCK. , f.-% - rj•
Pitt Elttlik4.Stock i` RlTldli FUND ,
199% lt
eICT S.
199 le
, e'er Cent. Reduced Arms ...... a 92%14 924.
utzt,:er Cent. Consols Annuities 9')54',4 92%
L,e" 31-4 Per Cent Anne.--
1411411.4iiga.Ainoes.to expire Jan.1860
2521. 254
ee 255
e nonds 1,0001... 7B p 78 p
Southunder ,000/. . -. 7B 80 p
e,111.h Sea Stock .
eoent_te Old, Annuities -
907(3 -
901%3
E,_,_usols for Account... .........
•-,;oeetier Bills. 1 teed. & 2d.
1,000,_/. June
Spelt jilallnee .. 49 p 49 p
...... 46 49 p 49 p
Pique - 49 p
-8 OF FOREIGN FUNDS. 02rE OLOsii, 0
Chilian Bonds 6 per Cent . ...... O'CLOCK. PRICE-.
93
Hanish 80nd5.1825,3 per Cent ... -
Ditto, 5 per cent. Scrip, 1849.. - -
-
Do. Bonds.. 9B
„,,Equador Bonds
~:1111.exican. 5 per Cent.lB46, with Coupons- ~...,
Ditto, Ex Coupons
Ditto, Account . 27 27% 27%
Peruvian Bonds, 6 per Cents -
Ditto, 4 per Cent. Active 51% % 52
Portuguese a per Cents. - -
Ditto, Converted, 5 per Cent - -
„, Ditto, Account, - 29
nanish 5 per Cent. 1840. -
. Ditto, Account lBl/2%.5i 1858
Ditto, Passive
Ditto, 3 per Cent -_
Ditto, Account ............
Dividends on the above payable in London.
notch 2% per Cent., 12 Guild.
t4,l,ept.i)C,E4spoeFr Cent. Certificates - 82%
BUSINESS DONE CLOSa G
PAD'
kbegieVi'eiVr SHARES. AT ONE O'CLOCK. PRICES..
19%
A bo. P_eference ...
560% -191/4 19
tuber. NOtt., Boston, -
and Eastern Junction 6 - ••• ........ ••••
8....
gf.B lire
and Galloway.. 7% -
_.-
13 "t & County Down 25 ...... es.
(egritts,wBc Hants Extens.
)34ain est. Per. 5 per ct.) 6
f(11,1 Him and 0x-
,,,•.,,dunct., calls duly
is, ~ or with a guaran. 20 -
-
tirtno?nWithout guarantee 20 . ... - ........ ...an ---
' En Wolverh'ton,
all,d Dudley, calls duly
too. or.with guarantee 10 ..... - -
Biaar.without guarantee 10 - -
and geWolverh'pton,
esknBht°llr Valley 131. 145... -
8
lout cad, Lancashire,
Cheahire June.... 20 -
artsßoston,itottio Stamfd & Birm. 71. 45.... - -
and Exeter 9O ..... - -
$-
ac,, , Thirds - -
Cc rghanithire ... 16/. 4s. , - dis.... ...... --
Dittoe o_ .
-t! •..... .._.. .... .. 50
-,-,, Quarter Shares 12% -
"blittrt+o,Tew -
e hroe
Bi 1
..e or a
anda l y d
He sodl
Holyhead...
hl e
eJa uf. 5050
- -
D so.sostPcrieference l5 - -
-
Clarence
bo.
2d
Clasasss,,
56
ppeerr
Ct Ct. 71100814 ---
-
130-Government Loan,
- ••• -
ne...4.Per Cent. .. lO ...... - -
L,,,1. ct London & Ports- .....
D'loath ,
„,,. ................. 514 - -
,r,n4Pla_and Belfast June. 40 - i...Ulk.a_lk & Enniskillen 22% ......
--
_
1 ana jlien,
25/., L. & -
Do., 1:48111 D„„„ „, 25
....
-- ...
I.
7.74m...,1:10:u0._
.3!
ti1t.,1.&p.1.1.7..f.......: 12i3301,4 ..
..._-; _
"ir/V41116 Mgt. 10
11%•/911.14 .........

: 8%
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