The Sun.
London, England, 1849-07-13 00:00:00

The Foreign Stock Market has been dull, and there
has been a want of tone, but nothing can be cited that
should act as a depressing cause. Spanish Five per
Cents. have realised 171 to 181. Portuguese Four per
Cents, have been quoted 301 to 31. Mexican Bonds,
ex-eoupens, are 28 to f. Belgian Four and a Half per
Cents, have been 84.1 to $5, and Dutch Two•and-a-Halt
per Cents 51 to
The Railway Share Market is still in a comparatively
inert state. Caledonian, Midland, North Stafford, and
South-Eastern, are heavy. Eastern Counties are still
rising. North-Western and Great Western are firm,
and York and North Midland have advanced.
ONE t,OCL( K. (11.0.4v0
PRWFS,
198%
93
92%
933,4
834
81/2
252
80 p
80 p

HT(' FR OF ttTidTlBli FUNDS
Bank Stock
3 t,er Cent. Reduced Arms ......
9922;44%9393
3 per Cent. Consols Annuities
Tew 34 per Cent. Anns.... . 93143]
Lone Anna. to expire+ Jan.IBAo
Ditto 30 years. Jan. 5, 1860 BI,E
India Stock

ndia Bond; 1,0004
Ditto under 1,000/... ......
South Sea Stock
Ditto Old Annuities
Ditto New Annuities
Consols for Account 92%34 93
Exchenuer Bills. I%d. & 2d.
1,0001. June 4B p
5001. June
Small. June
PRICES OF FOREIGN FUNDS ONE
O'CLOCK.
Mexican, 5 per Cent. 1846, with Coupons
Ditto, Ex Coupons
Ditto, Account, ...........
Portuguese 5 per Cents. —
Ditto, 4 per Cent 3l 3014 30% 301.4
Spanish 5 per Cent. 1840.
Ditto. Passive
Dividends on the above payable in London.
French, 3 per Cent
Exchange —25 f. 45c.
Belgian 4% per Cent
Dutch 2% per Cent., 12 Guild 5l 51% 51%
Ditto. 4 per Cent. Certificates 8014% 80 80
PRICES OF BUSINESS DONE CLOSING
RAIL WAY SHARES. PAID. BUSINESS
ONE O'CLOCK. PRICES.
Aberdeen
Do. Preference
Caledonian2s%l/s 25%
Do. New 10/. Pref..... 10 ...... 11%—...
Jhester and Holyhead-. 50
• Ditto, Preference l5 ...... .............. 13
Eastern Counties 2O ...... 99% ..... —.. 914
Do. New Guaranteed
6 per Cent... lO ...... 11%..... ll%
Ditto, Extension, 5 per
Cent., No. 1 64138. 4d.... 3/4 p.,.
3% p
Ditto ditto. No. 2 61. 13s. 4d... IA p
East Lancashire
East Lincolnshire ...... 25
Edinburgh and Glasgow 50 ..- 4O 41 ....
... 41
Great Northern
Do., 5 per Cent. Pref. 5
233 3%
reat North of England.loo 233
Great Western 100 ..... 84
Ditto, 1,4 Shares
Ditto, .14 Shares
Ditto, Fifths ...... ...... 20
Ditto, New 171........ 15 ...
Lancashire & Yorkshire 93 ..... -
Do. Quarters ......... 22% — ...........,.. Tiv
Do. Fifths... ... 10
6%
Do. New, Gua. 6 nerct. 10
Do. (W. Riding Union) 9..
London & 81ackwa11...... 12% 4% 4%
.ondon, Brighton, and
South Coast— ..... 50
Ditto, New 51., guar.
6 per cent. .. 5 - -•••• 64
LondonandGreenwich 12/15s 4d... 10 ... .......... 10
London and N Western 100 ......13214 132......... 132
Ditto, New Quarters.. 12 ...... 15%%....... 153
[,,,,, t. & S W,-stern ...... 50 ..... 36,4 361/4
Ditto, New 501....... 42%......
Ilidland ...... —loo .. 66 65% 66% 65% 65%
Do., do., 50/. Shares 30 ... ..
North British ........ ... 25 .....
Ditto, Thirds ...... - 814 - - --
north Staffordshire 171% 12% 13 12%...
Oxford, Worcester, and
Wolverhampton
Reading, Guildford, and
Reigate
Royston and Hitchin ... 434..
24
'sottish Central
__

50 p
51 p
51 p
CJLOSIN.
PRIG PA.
801 A
28
28

3%
12:%

nth Easter
York, Newcastle, and
Berwick..... 25
In. Newcastle Exten. 20 ...... 13 Ms

21%

Do. G.N.E.Preforence 8 —
York i.nd North Midland 50
.....
Ditto, Preference lO
FOREIGN RAILWAYS.

Central of France (Or-
Vierzon )
Northern of France
Paris and Rouen 2O ..... 214/4
JOINT STOCK BANKS.
London. Joint Stock
Union of Australia

LLOYD'S SHIPPING-(THIS DAY.)
LONDON, JULY 13.—Wind this day at noon E.N.E.,
pleasant breeze, and fine clear weather.
PLinuotmr, JULY 11.—Wind E.—Sid. 13z:hello,
Herons, Adelaide, South Australia; Tasman, Port
Philip.
LiTERPOOL, JULY 12.—Wind S.—Arrd. 11th, York,
Roy, New Orleans; Constitution, Britton, New York;
Ozark, Davis, ditto. Sid. Sarah, Sydney, Now South
Wales; Pet, Calcutta; Martha, Sinel cross, Bueros
Ayres; Susan, Howell, Virginia; Wyoming, Pldladel-
phis; Andrew Foster, New York; Clara, Symes, Quebec;
Empire Queen, Savannah. Off port, Liverpool, Cole.
man, Jamaica; Sarah, Horne, Africa.

OFF DovNß.—Barbara, Robson, Qaebee, for Saadi r-
ind.

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
cinu .ilat et
ido t
alnol, 0010,
oboaol e if, or f
ewxhpi
(clrht ,00T0h rt er a tna
sl
The sales of Cotton at Liverpool yesterday were esti-
n
e
aTtioonnsspine:
eluded 7,000 American, 1,000 Pernem and Maianham at
sd. to 5/d , 500 Bahia at 5/d. to 51d., 500 Egyptian at
to 6/J., and 500 Surats at Sid. to 3il. per lb. The
market closed with less aeinattion. Railway Shares
were heavy, and prices had a downward tendency.
The Corn Market has been firm.
From the information furnished by the different
brokers, it would not appear that the business done in
the Mincing-lane markers has been of magnitude this
week, and the very ample supplies have caused prices
to rule in respect to sugar and coffee, rather in favour
of buyers, the last mentioned article being particularly
dull. For wool end cotton the sale has been brisk, and
the buyers from Yorkshire are operating freely, at im-
proved prices, compared with the last series.
The accounts received this morning from the Con-
tiaental markets are of a good tone. At Odessa
not much influence had been exercised upon
the price of corn by the accounts from England, owing
to the want of shipping to bring away the produce.
Wool was in request for England. At Breslau on the
sth inst. there was a good business doing in wool. The
Government spinning mills were being worked success-
fully by a Dutch firm. At Hamburgh on Tuesday last
not a great deal was doing in exchanges, but bills on
London were in request at 13 9i. Funds and Shares
were quiet.
In the form of a letter to Mr. Henry Labouchere, as
President of the Board of Trade, Mr. C. Locock Webb
furnishes some useful and interesting remarks and sug-
gestions. He says truly that—" Shareholders look with
dread to new calls, for they find that, unlike almost
every other source of investment, the more the efficiency
and magnitude of railways are advanced, the more rapid
is the decline in the marketable value of the shares;
unlike money invested in the improvement of land,
which, even in spite of late Parliamentary measures
(causing much uneasiness with landowners, and a dread
of impending ruin on tenant farmers), increase in value,
in equal ratio to the amount expended in adding to its
fertility ; unlike capital embarked in trade or com-
merce, which well directed and prudently managed,
increases in value with the progress thereof, unlike capi-
tal invested in manufactures, which is regulated in its
value by the extent to which improvements are intro-
duced in the machinery employed in its production, or
to the degree of perfection to which the goods them-
selves can be brought; railways, with all their manifold
improvements, their increasing safety, and their appa-
rent rapid approach to perfection, with their great mag-
nificent triumph over the obstacles of nature, at once
spanning the broad river, and utilising the hard rock to
their operations, and with their acknowledged benefit to
every class and every industrial branch in the country,
seem to sink in value, and theirdepression becomes greater
as they increase in usefulness in the application of
discoveries in science, in importance, and, in reality,
in intrinsic worth. Indeed, to such an extent is rail-
way property depreciated, that if no impending liabi-
lities existed, their position calls loudly to Parlia-
ment to adopt some measure tending to re-
store confidence in them. I am quite aware
that one great cause of this want of con-
fidence is, that the true position and value of rail-
ways are neither understood nor appreciated, and the
public is too readily led away by interested alarmists;
but, without discussing the cause, it is enough that we
have an effect which is most deplorable, spreading ruin
abroad, and unless stayed, no one can foretell its com-
pass. I would ask you, sir, to weigh the loss which
the want of confidence has created in the value of rail-
way property, which may be calculated at no less a sum
than 100,000,000 L, as compared with the present prices
of Railway Stock and those of 1845. I contend, there-
fore, that it is not enough that a full inquiry should be
instituted into the bona fide nature of the accounts of the
companies; for although, placing the amounts of divi-
dends out of the question, the actual traffic returns show
that the sum total would give a dividend not interior to
Government Securities—although it is well known that
the nature of the one is to improve whilst the other is to
remain stationary until a downward step is taken, we
find that the market value of Railway Shares does not
permanently improve, neither is railway property re-
garded as possessing stability and security.
The Money Market is remarkably easy, and people
are more than ever inquiring what is to be done with
the surplus that still accumulates. As a necessary con-
sequence, Public Securities must be first influenced, and
political affairs continuing quiet, we shall next have
some signs of speculation in the mercantile markets.
This will be a gradual process, but it is as certain as
that one wave follows another.
The English Stock Market has been very buoyant
this morning, and prices are / per Cent. higher. Consols
have ranged from 92i to 93 for transfer, and the same
for settling day. Bank Stock has been marked 198/,
and India Stock 252. This is a rise in the former of no
less than 3 to 3/ per Cent. within a week. The New
Three-and-a-Quarter per Cents, are 93/.i, and the
Three per Cent. Reduced, 92i to 93. Exchequer-bills
have been 48s. to 51s. premium, and India Bonds 80s.
to 83a, premium.