The Sun.
London, England, 1849-08-22 00:00:00

AY EVENING AUGUST 22, 1849

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool yesterday were about
8,000 bales, and included 2,500 American, 300 Pernam,
200 Bahia, 700 Egyptian and 300 Surat taken on
speculation. The sales reported were 5,000 American
at 4d. to 6d., 600 Pernam, &c. at 54d. to 6d, 1,000 Egyp-
tian at 6d. to 6id. 400 Bahia at sid. to 5 d., 6UO Surat
at 31d. to 4id., and 100 Sea Island at 10d. to ls. 3d. per
lb. The market closed very firm. The trade, however,
buy with less spirit, but speculators were active.—Rail-
way Shares were firm,;with a considerable business doing.
The Corn Market is without alteration to-day, and
the business doing is but limited.
The Stock Markets abroad are described as having
been quiet, but the important news from Hungary was
not then known.
The West India advices appear to read somewhat
more favourably. The weather was better in several of
the colonies, and there was a more hopeful disposition
in a few quarters. The Demerara Assembly had pro-
ceeded to business. A very able report bad been made by
Mr. Walker upon the subject of labour, &c., and in this
ho strongly recommends the farming out system as
the only means of meeting the want of labour. The
habits of the peasantry seem to have deteriorated, and
their appreciation of dress and luxuries has greatly
diminished. Under these circumstances efforts should be
made to raise them again in self-estima'ion.
It is satisfactory at any time to hear of exertions
making, or to be made, by the American States for the
payment of their debts, but there is in some instances
still a great difference of opinion as to the moral as well
as the legal claim which the foreign creditors have. The
New York Herald defends Mississippi to a great extent,
although admitting that the Legislature approved highly
of the sale of the Bonds. The fact is, however, that
there is a great difference between borrowing and re-
paying, and, without eatering at length into the matter,
we may be permitted to hope that the Mississippi people
will despise quibbles, and act honourably, even at a sacri-
fice. The paper above referred to states—
"No one denies the existence of the law, and the
course pursued by the Legislature after the loan was
negotiated; but it was the business of the purchaser to
see whether the Legislature had power to make such a
loan or not, as the valise of the bonds issued depended
entirely upon that. This is, in our opinion, the only
just ground for repudiation; and to the principle in-
volved we are indebted for the preservation of
the most important institutions of the country.
Leaving out of the question entirely the rea-
sons given by the Governor at the time of
the suspeasion of the Union Bank, that the stipulation
that the State Bonds should not be disposed under their
par value, had been departed from, and that the Bank of
the United States could not, by its charter, legally pur-
chase the Bonds, and falling back upon the fact that the
law passed by the Legislature, authorising the loan, was
unconstitutional, it is clear that the bondholders have
no legal claim upon the people of the State of
Mississippi. As we have heretofore remarked, the only
hope of the bondholders is in a compromise. They
must abandon their claims and leave off browbeating,
and it is possible, although not very probable, that some
arrangement will be made. The legality of the claim
never can be, and never will be, acknowledged; but the
people of Mississippi feel disposed to do everything in
their power to relieve those who have been duped by a
set of swindlers, whose operations for boldnes and extent
were at the time unparalleled.
" The finances of Mississippi are steadily improving,
and before the lapse of many years the interest on the
acknowledged indebtedness of the State will be provided
for. Delinquency is far from being repudiation, and
nothing is wanting but the ability to promptly pay the
interest on the non-repudiated debt, as it accrues. The
people have the will without the means; but every frac-
tion of both principal and interest accrued and accruing
will be ultimately paid:"
We hope matters may turn out as here stated, and that
people subscribing to any future loans will recollect that
they are expected to have a knowledge, not only of
financial matters, but likewise of the complicated political
institutions of a country.
The Funds are rising upon the news of the Hungarian
settlement, although there is not a great deal doing.
Consols bring 92Z- to 93 for transfer, and 93 to 93i for
account, being per cent, better than they opened. The
New Three- and-a-Quarter per Cents. have been quoted
934 to 94k. Bank Stock is worth 199 to 200. Exche-
quer-bills have been lower, viz., 435. to 475. premium.
For some purpose or other, money, therefore, is evi-
dently in demand.
The Foreign Securities have been quiet, Mexican have
fluctuated a good deal, and are lower on the ground of
Senor Angroiz's resignation. The quotations have been
27i- to 28k. Equador are now in favour, being 4to 11-.
Brazilian Small are 81. Portuguese Four per Cents.
have been quoted 29. Spanish Five per Cents. are 184
to and the Three per Cents., 34g.
Railway Shares are still improving.

ONE O'OCLCK. o Lnsi x 0
,-'ltrol ti OF BRITISH FUNDS PRICES.
Bank Stock
3 per Cent. Reduced Anne ......
3 par Cent. Consols Annuities 92% 93 93
New 314 per Cent. Anu5......: 93 3/4 94% 94
Long Anne. to expire J an. 1860
India Stock — _

India Bonds, 1,0001. ....... ...... .. --
Ditto under 1,0001.. ....... ....... 74 p
South Sea Stock
Ditto Old Annuities
Ditto New Annuities ... 90% 9014
Consols for Account 92318 93% 93
Exchequer Bills. PA& & 2d.
1,0001. June 44 47 43 46 p 46 p
5001. June
Small. June 44 47 43 46 p 46 p
I"RICES OF FOREIGN FUNDS ONE °LORIN
O'CLOCK. PRICES.

Brazilian Bonds
Ditto, New, 1843 . Bl
Buenos Ayres Bonds, 6 per Cent.
Chilian Bonds 6 per Cent . .......
Ditto, 3 per Cent
Equador Bonds
Mexican, 5 per Cent. 1846, with Coupons-- .....
Ditto, Ex Coupons
Ditto, Account . 2BN% 27718 28%
Peruvian Bonds, 6 per Cents — 53%
Portuguese 5 per Cents. —
Ditto, 4 per Cent 29
Spanish 5 per Cent. 1840.
Ditto, Passive
Ditto. 3 per Cent 34%
Dividends on the above payable in London,
Dutch 2% per Cent., 12 Guild.
Ditto. 4 Der Cant. Certificates 83% 831%
PRICES OF PAID. BUSINESS DONE CLOSING
RAILWAY SHARES. AT ONE O'CLOCK. PRICES.
Aberdeen
Do. Preference ...... 6%
A mber. Nott., Bosten,
and Eastern Junction 6 ...... ... —
Ayrshire and Galloway.. 7%
Belfast & County Down 25
Berks & Hants Extens.
(Gt. West. Per. 5 per ct.) 6
Birmingham and Ox-
ford Junct., calls duly
paid, or with a guaran. 20
Do, without guarantee 20 . ...
Binning, Wolverh'ton,
and Dudley, calls duly
pd, or with guarantee 10 .....
Do. without guarantee 10
Birming.,Wolverh'pton,
and Stour Valley 13! 145...
Birkenhead, Lancashire,
and Cheshire Junc.... 20
Boston, Stamfd & Birm. 71. 45....
Bristol and Exeter 9O ... ..
Ditto, Thirds
Buckinghamshire ... 16/. 4s.
Caledonian
Ditto, Quarter Shares 12%.....
Ditto, New 10/. Pref... 10
Ditto,Clydesdale Junc 50
Lnester and Holyhead... 50
Ditto, Preference
Clarence
Do. lsz, Class, 6 per Ct. 10
Do. 2d Class, 5 per Ct. 10
Do. Government Loan,
4 per Cent. -
Direct London & Ports-
mouth
Dublin and Belfast June. 40 —
Dundalk & Enniskillen 22% —
East Anglian, 254 L. & •
E. and L. and D...... 25
Do. 184, E. & H.... 18
j Do., 3/. 105., Pref... 3% , —
Eastern Counties........ 20 ....., 8%
Do. New, Gua. 6 per ct. 10 - •••••• ......... •
Ditto,Extension, 5 per
Cent., No. 1 61.135. 4d.... % % p.....,... % p
Ditto ditto, No. 2...61. 138.4 d... -
Do. North. & Eastern,
6 per Cent.
Ditto. 5 per Cent.... 50
Ditto, JA Shares
Do. New
Eastern Union, Class A
(late E. U. Shares) 25
Ditto, Class A. ditto... 3% —
Do., Class B (1.1& B.) 25
Ditto, Class C, ditto... 22%. ....
Do. Scrip (6 per cent.) 20 ...... 19%
East Lancasb're
Ditto, New
Ditto, New Quarters 6% — ••
Do., 6 per Cent. Pre-
ference Quarters ... 6% —
East Lincolnshire ...... 25
Edinburgh and Glasgow 50
Ditto, Half Shares ... 20 .. —
•••
Edinburgh and Northern. 25 — -
Ditto, Newport —
Exeter,Yeovil, & Dorch 2%
Exeter and Exmouth... 21s.
Ulasgow, Dumfries, and
Carlisle -
Glasgow,Kilmar., & Ayr 50 ......
Do. Preference Consul.
Great Northern
Do., % A Deferred
,EiDo., %B 6 per Cent... 7% 5%
Do., 5 per Cent. Pref. 5 ...... 3%8.......
;real South. and West.
(Ireland)
G mat North of England 100 - ••
Ditto, New, 40/ 4O
Ditto, ditto
Ditto, New, 30/ 3O
Ditto, New,ls/... ...... 15 .. ..
Great Western 100 ...... 77 ~,
..
.........
Ditto, 14 Shares 5O
Ditto, % Shares
Ditto, Yiftbs. .....
Ditto, New 171........ 15 ...
Hull and Selby .. ...... 50 ....„ —
...............
Ditto, Half Shares ... 25
Do. Quarter Shares... 12% _ ..
...........
Lancaster and Carlisle... E 0
....... ••• ••
Ditto, Thirds
Lancashire & Yorkshireloo „„ _
..
.............
•••
Do. do. M. B. & 8.... 96
.. ..........
Ditto, ditto
Ditto, % Shares
.........
Do. Quarters ....
Do. Fifths...

x.d

1t3.X3
3%
34%

131,4

8%

19%

26%
391/4

83/4
.....
514
3%

32
774

6%