The Sun.
London, England, 1849-10-04 00:00:00

MONEY and COMMERCIAL NEWS

CITY, QUARTER TO THREE.

The sales of Cotton at Liverpool yesterday were
estit.aatul at 6,000 bales, including 500 American for
expert, and 1,000 on speculation. The market was
Tiler, at previous rates. The transactions comprised
5,000 ..A.ineiican at t o qd., 300 Bahia at sid., 300
Eg) ptian at Gi:d. to 7 d.. 300 Surat at 4d. to 41d., ancl;4o
Sea Island at 10d. to Is. 2d. per lb.—Railway Shares
continued dull, and prices were tending downwards, with
but little business doing.
The sales of Grain in the provincial markets are in-
creasing. The six weeks' average price of wheat is
435. 6d. per quarter.
The American letters received yesterday afternoon
add nothing important to the outline then given in The
Sun, but the intelligence from California is described as
having produced a very marked sensation at New York,
and led to renewed expectations of most important
result:. The effect upon the trade and currency of the
world may not be immediate, but it will be soon felt in
America, and, not long after, here likewise. Even the
glut of goods at San Francisco must be wholly relieved,
cre long, by the increased consumption, unless the im-
ports arc very inordinate, and which is unlikely, seeing
the number of vessels already abandoned in the harbour.

A New York journalist gives the following warning:—
" Look cut for a gradual rise in the price of provisions
and produce, and other article-s of necessity, as the fall
and winter approach. A number of new banks have
been started in this state, under the present banking
system, for the purpose of enabling speculators to go out
west, t.nd purchase, on speculation, all the produce that
they can lay their hands upon, than advance the prices,
end thus making money, during the fall and winter, out
of the hard-working community of New York. Those
banks will also explode, after being used by the specu-
lators ; but the high prices of provisions will be secured,
without the subtraction of a dime."

As excellent a summary as we have seen of the posi-
tion of various railway undertakings, the causes of their
decline, and the prospects of the market, is given in a
letter that we have received from Mr. Robert McEwen,
of Mancl_ester. Alluding to the satisfactory result of
regent meetings, the writer observes that they will suf-
ficiently account for the lower range of prices that has
lately prevailed, the falling traffic receipts having on the
21st ult. given the coup de grace, and, by leading to a re-
newed decline, destroyed the margin assigned by those
who had loaned money on such securities. The cholera
likewise, had an undoubted influence, for in the year
1832 it lessened the traffic of the Manchester and Liver-
pool line to the extent of 70,000 passengers, and it is re-
marked that it is in the item of passengers, not goods,
that the recent decline has occurred on the North-
Western. The reckless competition for the conveyance
of merchandise to Liverpool is another point very fairly
commented on, and the shareholders will doubtless take
up the matter hereafter. The public now in respect to
shares are said to be evincing more than the usual cou-
rage and discrimination, by taking up stuck at the cur-
rent low rates for investment. Much more is stated in
the same letter upon the subject of remunerating direc-
tors adequately, in order to prevent amateur manage-
ment, and of the necessity of dividing the boards into
managing and consulting; and, after observing that de-
velopment of the traffic is to be looked to especially, we
have the fo:lowing:—
" However continuous the downward current of prices
has been, it necessarily cannot be perpetual. Prices
are not likely to rally, however, without an improvement
in the traffic receipts. If these fall off, and Parliament
does not authorise an advance of shares, dividends and
prices must necessarily decline proportionably. Yet the
general state of the country would promise success to
any sound and well-managed undertaking. Liabilities
in respect of calls are now within a narrow compass.
The calls for September were 443,181/. in all (280,000/.
being for the South Wales alone), against 2,592,7631. in
September last year. Money, for short periods, is only
worth two per cent. in Lombard-street, and first- class
paper is being discounted at 21 per cent. Such an easy
condition of the Money Market has been always followed
hitherto by an advance in the price of produce and secu-
rities. The internal business of the country is active and
remunerative, artisans and operatives being fully em-
ployed. The foreign trade for the year, as evidenced by
the Board of Customs' returns, has been on a scale of
unusul magnitude. The weather has continued provi-
dentially favourable, so that the late crops of the north
of England and Scotland have been secured, in as good
condition and as great abundance as the earlier ones in
the south. The cessation of war and political ferment
on the Continent has led to an active resumption of
our commercial relations with the various European
states, throughout which peace and plenty once more
prevail. The horiz ‘n is clear at the moment of most
of the threatening elements that used to depress the
more speculative and sensitive class of securities. The
ravages of cholera are mercifully mitigated. The pulse
of business might well beat more feebly in the metropo-
lis, when, as in the first week of September, 2,000 of
her citizens were numbered amung the victims of the
epidemic. In Hull its virulence was not less fatal; and
seems to have attained its acme during the month in all
the large towns. It would have been unseemly, had the
effects of such a visitation not been perceptible in every
walk of life and business, and not least in its more spe-
culative branches. The disease, happily, seems now
everywhere decidedly and gradually on the decline. It
may be that the country is emerging from a series of
disastrous to one of more prosperous years. Such, too,
are remarked generally to follow in cycles the result of
natural rather than fortuitous, causes. But while almost
every other branch of national enterprise has exhibited
an improving tendency, railways have only sunk deeper
in the slough. Surely this is an anomaly that cannot be
everlasting."
Port Philip accounts to the beginning of June have
been received by the ship Hero. The revenue for the
quitter ending the 31st March was 40,1311. ss. 11d.,
showing a decrease, compared with the corresponding
period of 184 S, amounting to 5,334/ 19 ;. Bd. This
arises, however, chiefly from the falling off in the pro-
ceeds of the sale of Crown lands and licences, for the
general revenue exhibits an increase under nearly every
stem. Bills on London at 30 days were I per cent. dis-
count. The wages of married couples, without family,
were 28L to 341. per annum. Owing to the opposition so
strongly manifested in all the colonies to the introduction
of convicts, it was reported that the home Government in-
tended to found a new penal settlement, north of Sydney.
Whatever may be urged against transportation, it is
certain that the foundation of the Australian colonies is
due to the system.
From Van Dieman's Land there are accounts of the

18th May. The production of grain had been very
prolific, and there was a difficulty in disposing of the
large surplus of the island as well as of South Australia.
Some proposed the erection of Government stores. The
first colonikil built ship had just been launched at Hobart
Town, and is described as being as fine a one as any in the
port. Two more were on the stocks, destined to increase
the whaling fleet, each of 350 tons, for the same service,
and two of 700 and 500 tons respectively for the London
trade. If this is followed up with spirit, the colonies
will effect a great annual saving upon their exports, and
we shall soon see whether cheap built ships cannot be
got by England as well as the Continent, to the advan-
tage of all classes, because of the increased trade. Im-
mense quantities of produce, &c., are now withheld from
distant parts where they would be useful, solely on ac-
count of the necessarily heavy charge for freight.
The Continental advices are not of much interest, and
the prevalence of contrary winds has checked the ar-
rival of the usual number of mails. At Paris the news
of the decline in Consols upon the Russian affair occa-
sioned some fall in the Rehtes.

The Funds have been fairly supported, but are not
quite so buoyant as they were at the opening. Consols
have realised 92/ and are now 92/ for transfer,
and 92i for account. The value of Exchequer-bills
has been 395. to 425. prem.
In the Foreign market Mexican Stock has been
somewhat firmer, viz., 26-a to 11,.. Buenos Ayres Bonds
have been at a rally to 43, upon the semi-official an-
nouncement that the French Government does not in-
tended to renew the quarrel with Roses. The public,
however, should be warned against this security as
being dangerous even at 10 per cent. under present rates.
Spanish Five per Cents. have been marked 16Z- to
Dutch Twc-and-a-Half per Cents. are 524 to 53.
Railway Shares are again exceedingly quiet, but in
some cases firmer.

BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)
3 per Cent. Consols Anus
Long Annuities, Exp. Jan. sth, 1860...
Do. 30 Years, Expire Jan. 5, 1860... 81/.2 8 9-16
Consols for Account
Exchequer Bills. I Mad. 2d.
March. June.
1,000/.
500/. 39 42 p
Small — 39 42 p

PRICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Buenos Ayres Bonds, 6 per Cent 43
Mexican 80ng5,1846, 5 per Cent., Coupons
Ditto Ex Coupons
Ditto for the Account 263/4 % %Ts
Spanish Bonds, 5 per Cent,lB4o 161/2,6%
Dividends on the above payable in London.
Dutch 21% per Cent., 12 Guild 53 5234
Ditto Account
Ditto 4 ner Cent. Certificates

BUSINFI,S DONE IN RAILWAY SHARES AT ONE O'CLOCK
RAILWAYIL PAID. rga Swam.
Aberdeen -
Ditto, Preference
Nzab.2r., Notting., Boston, &c. 6
Ayrshire _ and Galloway -
z

Belfast and County Down .. 26j; .. ..
3erks and Hants Extension
(Gt. West. Perpet. 5 per ct.) 6 -
airmingham & OxfordJunct.,
calls duly pd, or with guar. 20 -
Do., without a guarantee... 20 s ... --
Birmingham,Wol., & Dudley,
calls duly pd, or with guar. 10 ... .
Do., without a guarantee... 10
Birreing., Vol.. & Stour Val. 131.14 s —
Birkenhead, Lancashire, and
Cheshira Junction..
'doston, Stamf., & Birming...7l. 4s — ...... to
Bristol and Exeter
Do~ Thirds
Buckinghamshire... —171 A 151/2...... to
Caledonian
Ditto, New 10/. Prererenee 10 ...... 9N3 x. i. to
Ditto. Clydesdale Junction 50
Chester and Holyhead... 5O .....
Ditto, Preference
,21arence.
Do., Ist Class, 6 per Cent
D0.,2(1 Class, 5 per Cent... 10
Do., Gov. Loan, 4 per Cent. 10
Direct London & Portsmouth 5!-,/, —
Dublin andßelfast Junction.. 40
Dunchlk isnd Enniskillen ... 27;x......
Last Anglia, 25/. L. & E.,
alad L. & D ~
.
Ditto, 18/., E. & H lB ... ..
Do, 3/. 105.,6 p. Ct. Pref. 31,E — ..... to
Essteru Counties ....

Do. New Calera it. 6 per Ct. 10
Do. Exten., 5 per ct. No. 1, 61.135. 4d ..
Do., d 0.... N 0.2,61. 13s. 4d...
Do., Northern & Eastern... 50
Do., 5 per cmt.
Ditto, New

Eastern Uhio'l, Class A (la,e
E. U. Shares) ......
Ditto, ditto, Class A, ditto 3
Ditto, do, Class B (I. & 13) 25
Ditto, do, Class C, ditto... 2214 — to
Ditto Scrip (6ua. 6 per ct.) 20 . — ..... to
East Lancashire ...
Ditto, New ... .......... .... . 25
Do., New Quarters -
Do., 6 per Cent. Preference
Quarter Shares 61,4. .
East Lincolnshire ... 25
Edinburgh and Glasgow 6O — to
Ditto, Half Shares
Edinburgh and Northern ... 25
Ditto, New port.. ... ..... .. 15
Exeter, Yeovil, & Dorchester 2% —
Exeter and Exmouth 2ls.
Ulasg., Dumfries, & Carlisle..Bl. 62.8 d — ..... to
Glasgow, Kilmarnock, & Ayr 50 — to

. _
DPreferenceii. Consolidated ...... ..... to
Great Northern
Do. % A Deferred ..... ... 12% —
Do. %B 6 per Cent.
Do., 5 per Lent. Pref....—. 7%...... 5% to
(at. South. & West. (Ireland) 47% 28% to
(;rcat North of England 100 ......210 ..... to
Ditto, New 404 ...... .. 4O
Ditto, ditto
Ditto, New 301 ... 30 ... „„
Ditto, New 15/...... . ....... 15 ...... .
::eat Western
Ditto, Half Shares

Ditto, Quarter Shares
Ditto, Fifths

Do. l',iew 17/ ...
dull and Selby
Ditto, Ralf Shares .. ...... 25 ......
Ditto, Quarter Shares 12% — ...... to
Lancabter and Carlisle.... .... 50
Do., Thirds - ...... to
Lancashire and Yorkshire lOO .....
Ditto, ditto, M. 13. & B ... 96
Ditto, ditto

Ditto Half Shares
Ditto Quarters 22% 13% to
Ditto Fifths

Ditto. Thirds l5 .
..... ...... to
Do., New Guar. 6 per cent
Do. Liverpool aad Bury... 46
Do. (lludders. and SWAT.) 50
Do., West Riding Union... 9 ....
Do., Preston and Wyre ... 25 .....„ -
Du., do., Half Shares (A) 10
Loeds and Bradford 5O .. ••. —. ...••.• to
Leeds and Thirsk ...-...
Do.,do.,Prefer., 6 per Cent. 5
Do. Pref. Quarters, 1848... 9
Liverpool,Crosby,andSouth-

_
port.
Loudon :.?: 81ackwa11......11/. 6a. 3d — ...... to
Loud., B right.. & South Coast 100
Do., New nt, gua. 6pr Ct.loo
Do. Guaranteed 5 per Cent. 9 .
Do. Preferential, 5 per Ct., 50

. . .
Ditto, ditto 1852 50 .....
London and Grcenwich... 121. 15s. 4d...
Ditto Preference 2O
London ts North Western.....loo lll% 111 to 112
Do. New Quarters.
Do. Fifths
Do. 40i. Shares.— L. & M 35 ......

Do. 101... M. and B. (C.) 1
London and S. Western....... 5Q
Ditto, New 504 42%.....
Ditto, New 40/
Do., New Scrip, 1848, Pref.
7 per Cent
Londonderry and Coleraine... 25
Do. Half Shares . ..... ..... 33/q..... .. to
Londonderry and Enniskillen 25
Do., Half Shares
Lawest,ff, guar. 4 cer ct
Ditto (guar. 6 per cent. ... 13
Nlanch, liuxtoo, & Matlock 5
Manchr, Sisertield, and Linc.100
Ditto 14 Shares ( No. 1) ... 23
Ditto, ditto (No. 2)
Ditto, Vg Shares (No. 3)... 121,1 ......
Do., New 10/. Prefererce.. 10 ..... 1014 to
Ditto, Grimsby Sz.Sheffield 50
Ditto, ditto.
Ditto, ditto .. .
_ . __.

Ditto Sheffield and Linc. 22172 —
Ditto, Grimsby Dock 25
Ditto, Man. & Lin. Union 41. 25....
Mid1and........, .... ........ ...100
Ditto, Consol. Preference...loo

Ditto,:sol. Shares ...... 30
Midland, Birm., and Derby...loo , to
Midland, Consol. Bristoi and
Birmingham, 6 per cent.... 100 125%..... to
Midland, Bristol and Glouc. 42 ...
Ditto ditto 221.75.
Ditto,ErewashVal., Pref... 50
Midland, Leices. and Swan-

•
eington (8 per ct.gua.)....100 .....
6.1 idld. Great Western (Irish) 50 .
Middlesbro' and Redcar. 6
per cent. guar. ......... ..,... 50
Newcastle and Carlisle lOO -
... „ ~.

Ditto Quarter Shares . .... 25 ... — •••••• to —.
Newmarket ......... ~......... 23
Ditto Extension Scrip... 21. 12s. —
Newport Abergy., and Heret. 6 -
New ry and Enniskillen
Newry, Warrenpoint, and
nostrevor .... - ..... ....,.... 20 .. to
IN orf o 1 k ......... ... .
Ditto New 20/. l5 _ • •••• to
Ditto Guaranteed 5 per et 20
Do. Do 5V per cent S •• •••

Do. do. Waveiley Valley.. 2
Northern Counties Union ~., 4
North British .. .. ......... . 25
Ditto Fall 5hare5........... 121,4 —
Do. Quarters 614 2l/2 to
Ditto '1 iiirde,..... ...... ....... 614 ..... 31s to
Ditto, Preference ...... PA —
North Staliordshire... ... ..... 171%
North Wales 31,4z ..... . •.•• to
Nc rth Western, l3O/4
Oxford, Worcester, and Wol-

, - --
verhampton ... . 50
Reading, Guildfd., & Reigate 15
Royston and Ilitchin
Scottish Central: .. 25 ... .„ 191/414 ;1/4 to
Scottish Midland .... ....... .... 25

Ditto, New... 221/2 — to
Shrewsbury and Binningliana 12 - ...... to —.
Ditto. ditto, Class B. 8
Ditto, New Guaranteed 8
Shrewsbury and Hereford .. 4
Shrewsbury and Cheater
(Nor. W. riiin.) - ...... to
Ditto Halves, Ditto... 9 ...
Ditto, Uswestry lB% ...... ••• ••• to -
Ditto New)...

Ditto 8 per Cent. Pref....—. 10 -
ShropshirelUnion — ...... to
South Devon
Ditto, Preference
South Staffordshire alb
South Eastern ..... 17543/4 x.d to
_ _

Ditto, No. 2.:
Ditto, No. 3.
Ditto, Registered No. 4.... 10 ......
Ditto, Scrip No. 4..
South Wales
South Yorkshire, Doncaster

,
and Goole -
"QhefEeld,...Rotherham, and

Goole (N.D) Gua. 5 per ct. WA — ... .. to -.
Do. do. (South Div.) 5
Swans. and Loughor and Ca-
meron's Stm. Coal ... . 7
Taw Vale Extension ... 8
Thames Haven Dock and . .

Railway . 17% — to
Vale of Neath
Waterford and Kilkenny 2O ......
Waterford and Limerick ... .. 4734... .. —. -
Waterford, Wexford,Wicklw,
and Dublin .. 3 ...... .... .to .—.
Wear Valley 6 par Cent.
Guaranteed ....-.
Do. do. do.
Do. do. do.
West Cornwall
Whitehaven and Furness l6 ... .. ...... to —.
Windsor, Staines, and South

. ,
Western.... .......... ....... 14
Wilts, Somerset,&Weymouth 45 — to
York, Newcastle, and Berwick 25
Do. and Newcastle Exten. 20 ..... 12
Do. G. N. E. Fur or Pref. 8 : 3% to
Do.llartlepool Dk. & Ely. ICO
fork and North Midland .. 50
Ditto, Preference - ...... to

FOREIGN RAILWAYS.
Anglo Italian (late Italian
and Austrian) 5,14
Boulogne and Amiens 2O ..... .. to
Central of France (Orleans
__

and Vierzon) ..~
Demerara. - —• to
Dutch Rhenish
East Indian
Great Indian Peninsular 5 ...... ...... to
Do. Do los.
Louvain ala Sambre ........ 71/2 — ...... to
Luxembourg
Ditto
Madrid and Valentia
Namur and Liege........
Northern of France 14/ Bs.. ... dis ... to
Orleans and Bordeaux ... 7 ... , to
Paris and Orleans... 2O
Paris and Rouen 2O - . to
Paris & Strasbourg ..... ..... 11
Rouen and Havre 20
Sambre and Manse
Strasburg and Bale ..... ...... 14 ~....
Tours & Nantes ... .... .. 11 - •••••• to ....
Tournay, Jurbise, Landen,
and Haseelt .. ... .. 20 •••••• .... ••*... to
West Flanders
83A -- .. to
Ditto Bl/2.....
JOINT STOCK BANKS.
Australasia
British North American
Colonial
..... . .. to •••
Commercial of London
London Joint Stock .....
London and Westminster... 20
National Provincial of Engld. 35
Ditto, New
10 ••.. .. ..,.. to
National of Ireland
Provincial of Ireland . ' 25
10 ..
Ditto, New
Union of Australia
Ditto, New
Union of London ........ 05.... 10
Union of Madrid

MINES.
Anglo Mexican lOO "••••
Asturian ...... .. ..... ... ..... 15 ......
Australian
Barrossa Range 2Bs. —
Blaenarvon iron and Coal ... 5(1
Bolanos Scrip
Bride.). Iron
Brazilian Imperial ..... .. ... 24%......
Ditto Cocaes and Cuiaba... 30
Ditto St. Jain Del Rey ... 15 . — to
Cobra Copper -
General