The Sun.
London, England, 1849-01-04 00:00:00

HANOVER.

Dic. 29.—8 y royal proclamation the KING has
convoked the States for the Ist of February, in the
capital city, as the ordinary Assembly has completed
the work assigned to it of introducing various changes
in the fundamental law of the kingdom. The elec-
tions are to be conducted in conformity with the pro-
visional elective law.—Hanover Gazette.

lIRSDAY I"I!VENING, JAN tTARY 4.

MONEY and COMMERCIAL NEWS.

CITY, QUARTER TO THREE.

The sales of Cotton at Liverpool yesterday were esti-
mated at about 8,000 to 0,000 bales, of which 500 Ame-
rican were taken by exporters and 1,500 on apeculation.
The market closed with a further tendency to advance
compared with Friday's rates. Prices of all kinds were
d. per lb. dearer. The Canada advices respecting the
estimate of crop, receipts, and shipments, on the other
side are considered satisfactory. The following are par-
ticulars of the day's business :-7,000 American, at 34d.
to sid.; 600 Maranham, at 41d. to 4:id.; 150 Bahia, at
sd. to 5-d.; 100 Egyptian, at sid. to 64d.; and 300
Surat, at 3d. to 3,id. Shares were in request.
The accounts by the Overland Mail appear to be
favourable in a commercial point of view, trade being
tolerably brisk. The exchange at Calcutta had nut
improved.
The letters by the steamer Canada were delivered
yesterday afternoon, and in addition to what ap-
pears in another column, the following statement
relative to the timber trade, being furnished by a re-
spectable firm at Quebec, will be found interesting:—
" Although the stock generally is considerably less
than last year, yet, in most articles, it is a full average.
It is expedient for our Western friends to restrai❑ within
a moderate compass the production of timber during the
ensuing winter. _

White Pine—Supply was 7,132,127 feet, against
12,026.294 in 1847—the export, 10,709,680, against
9,626,640 the previous year—the stock on hand now is
8,974,654, being 6,286,371 feet less than last year, and it
must be remarked that a large proportion is of small
average and inferior quality. Throughout the season
common and small descriptions have been sold at low
prices, whilst for the better qualities a fair inquiry has
latterly existed, and prices have been maintained at a re-
latively fair figure.
" Although the stock remaining over appears to be
8,974,654 feet, we do not estimate that much more than
seven millions will be available for shipment in the
spring.
" The supervisor's measure being the extreme cubical
contents of the timber, sk ithout reference to the sound-
ness and quality, we conclude that on an average the
difference between the shipping measure and that of the
supervisor reaches fully from 7} to 10 per cent. We
have known instances when it has been as much as 15
per cent., a loss borne exclusively by the shipper.
Some alteration in the present law would prove ac-
ceptable alike to the honourable producer and the
shipper.
" Red pine has gradually declined in price, notwith-
standing the supply is 4,223,952 feet against 6,516,922
in 1847, whilst the export is 4,365,440 against 4,466,520
the previous year. The stock is 356,8651 feet less than
last year. The greater part of the timber remaining over
is of small average. We take the present opportunity
of mentioning that Red Pine, of less than 38 to 40 feet
average, cannot compete in the British markets with
Baltic ; the agents of Baltic houses are sellers at 42e. 6d.
to 455. sterling per load of 50 feet, delivered in British
freight and duty paid, which is equal to about 2d. ster-
ling per foot in Sweden. For large averages and good
girths we shall retain the trade ; but small and in-
terior, if sold at all, must be at a price ruinous to the
producer."
In the continental advices received to-day there is no
mercantile news of particular interest. The Carlist
victory is not believed. Perhaps more than any other
question just now, the Danish excites attention, because
it is feared that the want of progress in the negotiations
augurs badly 'for the future.
There is an advance in the duty upon foreign wheat
to nine shillings per quarter, the six weeks' average
being lower.
Business in the Stock Market is rather dull, and
prices droop a little. We stated yesterday, however,
that no cause beyond the ordinary realisation of profits
after an advance could be assigned. Consols have
ranged from 883 to 89k. The New Three-and-a-
Quarter per Cents. have been 89i to Bank Stock is
worth 1891 to 191. Exchequer-bills have been 425. to
455. premium.
The Foreign Securities have been also rather lower.
Spanish Five per Cents., 14/ and 13k; Portuguese Four
per Cents., 26k; Mexican, 25i i; Peruvian, 48* to 50i;
Dutch Two-and-a-Half per Cents, are 48i.
Railway Shares have been rather quieter, but support
fairly nearly the previous rates. •
BRITISH FUNDS TI4IS DAY AT ONE O'CLOCK.
(From the Official List.)

Bank Stock
3 per Cent. Reduced Annuities B9 89% 881
Now 314 per Cent. Anis. 8934N
Long Annuities, Exp. Jan. sth, 1860 —
D 0.30 Years, Expire Oct. 10, 1859 Bl% 7-16
India Stock —
Do. Bonds, 10001 44 42 p
Ditto under 1.0001
Consols for Account
Exchequer Bills. 2y2d. 2d.
March. ' June.
1,0001.
Small 45 43 p 42 p
PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Buenos Ayres Bonds, 6 per Cent... 25 25%
Mexican Bones, IM6, 5 per Cent...... Cent......—
Ditto for the Account .... 26541,4
Peruvian Bonds, 6 per Cent 481,E
Ditto for the Account 50% 49
Portuguese Bonds, 5 per Cent Cent
Ditto 4 per Cent.
Ditto for the Account .. .
Spanish Bonds, 5 per Cent,lB4o
Ditto for the Account 1414 13%
Dividends on the above payable in London.
Dutch 21/s per Cent.,l2 Guild 48%
Ditto 4 per Cent. Certificates
BUSINESS DONE IN RAILWAY SIIAREi AT ONE O'CLOCK
RAILWAYS. PAID. Pas SHARE.
Aberdeen
A mbrr., Notting., Boston, &c. 414 l 4
A 3 rehire and Galloway
Bdfast and County Down .. 20% .. ..
14irmingnam & Oxford.) unct.,
calls duly pd, or with guar. 20
Do., without a guarantee... 20 ... .. to —.
Birmingham,Wol.,& Dudley,
calls duly pd; or with guar. 10 .....
Do., without a guarantee... 10
lin-ming., Wol., & Stour Val. 131.145.... to
Birkenhead, Lancashire, and
Cheshire Junction lO
Boston, Stamf., & Birming... 6
Bristol and Exeter
Do~ Thirds
Buckinghamshire .. 141 45....... ...... to
Caledonian
Ditto, Half Shares
Ditto, New 101. Preference 7'
Ditto. Clydesdale Junction 50
Chester and Holyhead... 5O .....
Ditto, Preference
Clarence.
Do., Ist Class, 6 per Cent... 10
Do., 2d Class, 5 per Cent... 10 -
Do., Gov. Loan, 4 per Cent. 10
Direct London & Portsmouth 514 — to
Dublin and Belfast Junction.. 35
Dundalk and Enniskillen ... 20
East Anglia, 25/. L. & E.,
amd L. & D . .
Ditto, 181., E. & H

Ditto, 31. 10s., E. & H... 3%
Eastern Counties .... 2O ...... 13 12% to 11%
Do. New Guarant. 6 per Ct. 10
Do. Perpet.,s per ct. No. 1,6/. 13s. 4d... % p to
Do., do N 0.2,6/. 135.4 d...
Do., Northern & Eastern... 50
Do., 5 per cent.
Do., Quarter .... . ...... ...... 124... ..
Do., New
Eastern Union, Claws A (late
E. U. Shares) ......... .. 25
Ditto, ditto, Class A, ditto 3% — to
Ditto, do, Class B (I. & B) 20
Ditto, do, Class C, ditto... 20
Ditto Scrip (gua. 6 per ct.) 20
Ditto (C. & E.), 5 per ct. 2% — to
East Lancashire
Ditto, New ... .......... .... . 21 141,E 15;i to 14%
Do., New Quarters
Do., 6 per Cent. Preference
Quarter Shares 64 — to
East Lincolnshire ... 25 ... 2614 a int. to
Edinburgh and Glasgow 5O — to
Ditto, Halt Shares
Edinburgh and Northern ... 25
tot
o
Ditto, New port l5
Exeter, Yeovil, & Dorchester 2% 1%%
Glasg., Dumfries, & Carlisle..B/. 6..8d — ... ... .
Glasgow, Kilmarnock, & Ayr 50
...

DO:Preference Consolidated ..... .. ... to
Great Northern
Do. 1/2 A Deferred ..... ... 121/2 to
Do. %B 6 per Cent. Guar. 61/, 4:Yi 3Y ... to
Do. Extension ...
Gt. South. & West. (Ireland) 421/2 to
Great North of England 100
Ditto, New 401.
Ditto, ditto ....

Ditto, New 301 3O .
...
tt o
o —,
Ditto, New 154-- ... -
Great Western 100
Ditto, Halt Shares
Ditto, Quarter Shares
Ditto, Fifths 2O
...... to
Do. New 17/ ...
Huddersfield and Manchester 30 to
Ditto, Thirds ... 10
Hull and Selby
Ditto, Halt Shares .. ...... 25 ....„ 4934 to
Ditto, Quarter Shares 121,E — to
Lancaster and Carlisle.... ... 50
Do.,Thirds lO ......
Lancashire and Yorkshire ... 93
Ditto, ditto
Ditto Half Shares - 43
Ditto Quarters
Ditto Fifths lO — to
Ditto Sixteenths .......... 6k...... - to
Ditto Thirds (Reg.)
Do., New Guar. 6 per cent. 7% — to
Do. Liverpool and Bury... 43
Do. (Rudders. and Sheff.) 43
Do., Wakefield, Pontefract, _

_ and Goole
Do., West Riding Union... 7 .... . 21,4 % to
Do., Preston and Wyre ... 25
Do., do., Half Shares (A) 9% to
Laeds and Bradford 5O .. ... 98t,..... to
Leeds, Dewebury, & Manchus. 50
Do., Half Shares
Ditto. Blue (scrip) ..... .... 2% — to --,
Leeds and Thirsk ......... ..... 50
Ditto, New .... .. 35 . .... ....... to
Do.,do.,Prefer., 6 per Cent. 3%. .... ...... to
Liverpool. Crosby, and Sout-
h
Liverpool, Manchester, and
Newcastle Junction 2%
London & Blackwall ..„...131. Gs. 8d 43d%... to
Do. Extension ... .. 22%
Lond., Bright., & South Coast 50
Do. Guaranteed 5 per Cent. 9 .
De. Pref. Cony. 5 per Cent. 50 ...... ..
Ditto, ditto 1852 50 .. ...

Do., New, guar. 6 per cent. 5 511 to
London and Greenwich... 121. 159. 4d...
Ditto Preference
London & North Western 100 ......
Do. Quarters (L. and B.) 22