The Sun.
London, England, 1849-10-29 00:00:00

MONEY and COMMERCIAL NEWS.

CITY, QUARTER TO THREE.
There was a good demand for Cotton at Liverpool on
Saturday. The sales were estimated at 10,000 bales.
The sales comprised 7,000 American, at 50. to Bd.,
500 Brazil at 6fd. to 7d., 1,100 Surat at 4d. to 4d.,
and 40 Sea Island at Is. lid. to Is. sd. per lb.; 4,000
American, and 1,000 Surat were taken on speculation.—
Railway Shares were firm.
There is a duller trade in Mark-lane to-day for most
articles.

Nothing is easier than to take a one-sided view of a
question, and this the Protectionist party, whether en-
gaged in trade or agriculture, are doing constantly
The best plan in such case is not to decline the invita-
tion given, as it were, to free-traders, but to meet at once
the objections raised, and see if there is any validity in
them. A case in point is now before us. A large and
powerful joint-stock glass company, as we are told by
certain aggrieved parties, is about to introduce a system
of periodical sales by auction, as an outlet for their pro-
duce; such a system, according to the same parties, is
unprecedented, not only in the glass trade, but in all the
other great staple manufactures of this country, and
accordingly our informants condemn it in the following
terms :

" This commercial novelty is the fruit of over The supply has greatly exceeded the demand,
and, consequently, large stocks have accumulated, with
the almost impossibility of effecting sales in the usual
manner. This increased supply has arisen from very
exaggerated notions having gained credence as to the effect
of the repeal of the duty; from the speculative joint-
stock mania of 1845.6, and in no small degree from the
poetry' of Sir Robert Peel, who sought to persuade the
public that the duty being once repealed, everything
would be made of glass, ' from a watch•spring to a
water-pipe.' What was the result ? Previous to the
repeal of the duty there were thirteen window
glass (crown and sheet) manufactories in the United
Kingdom, all working short time. On that
measure taking effect, these were placed on full time, and
also considerably enlarged; in addition to which 11 other
manufactories were established, making a total of 24, in-
creasing the supply 300 per cent., while the increased
demand did not exceed 25 per cent., except for a very
limited time, until perties had replaced their stocks.
Glass has consequently gone down to the cost price at
the moat economical manufactories, at which rates 11
have been suspended at an estimated loss of 250,0001."
Now, we have net sufficient acquaintance with the
glass trade to determine positively how far these state-
ments may be correct, but we shall probably not be
wrong in assuming that they are susceptible of a reply
from practical men, that would materially weaken their
force.

Some of the fallacy they contain is apparent even to
ourselves, who, in this instance, draw our conclusions
simply from theory. The demand already, it is ad-
mitted, has increased 25 per cent. under the operation of
lower prices, and what is more, our improvements and
increased production and cheapness have alone kept us
from being inundated with the foreign article. If, there-
fore, we are to extend our trade in glass, we must menu
facture largely as well as cheaply, to have a
chance in distant markets, and the first loss, after the
opening of a trade is inevitable and almost invariable,
the tea trade to wit, though the public as surely gain
what individuals temporarily lose. Without giving any
further opinion, however, we will allow the facts to
speak for themselves, and give another extract from the
adverse communication before us:—

" The supply still greatly exceeds the demand, and
the present prices are below cost at several manufactories
now in operation. They in their turn must eventually
retire, and those only who are situated in eligible
localities for the cheap manufacture of glass can per-
manently- exist. Whether this company, with its
auction sales, be one of that class may be gleaned from
the fact of their having spent 70,0001. on their plant,
when a manufactory, capable of l roducing the same
quantity of glass, may be rented at 5001. a year, and in
a locality superior by 3,0001. a year in the cost of manu-
facture."

The steamer from the United States and Canada
brings late and interesting news. The rate of exchange
on London was still so high-110 to 1101—as to render
it almost a matter of certainty that specie to some amount
would be exported to Europe, and both upon London
and Paris thero was an active demand for bills. The
official notice of the United States Government that
British ships should enjoy the same privileges as are
accorded here under the new Navigation Act to Ameri-
can vessels, has given much satisfaction, although it
was fully expected. . _

The Canadian accounts continue of an unsatisfactory
tenour, more from the indication of future mischief than
from present agitation.
The continental accounts are of commercial interest.
The rate of exchange on London at Hamburgh, last
Friday, was 13 10 , and the price of gold 4371. Not
much was doing in exchanges generally, but Bills of
short date on London were in request. Stocks
were firm, and in Shares not much was doing.
At St. Petersburgh a larger business was do-
ing in Tallow, and yellow candle had advanced
from 108 to 117. At Copenhagen, on the 24th inst., the
New Danish Three per Cent. loan, contracted in Eng-
land, was quoted higher, viz. 711. The Amsterdam
Bourse opened at an advance, but went back subse-
quently for the Dutch Two-and•a-Half per Cents. to
52 13-16ths. In the Three per Cent. Spanish Stock
there were large purchases at / per cent. rise. At
Berlin, on the 26th inst., the Three-and-a-Half per cent.
Prussian Bonds were marked 381, and at Vienna, on the
24th inst. Austrian Bonds were 941.
The new arrangements at the Post-office came into
operation yesterday; the additional number of persons
employed, however, being twelve only, all of whom were
volunteers, and who succeeded, with the persons pre•
viously doing Sunday duty, in sorting and forwarding
by an early hour no less than 60,000 letters. The letters
bear the stamp of Sunday, and no newspapers, we be-
lieve, are forwarded. It is expected that in future
twenty clerks will be employed in getting through the
new duty.
The Funds have advanced again this morning, the
pacific news from Russia having a favourable influence.
Consols have been 921 to 93 for Transfer, and 92/ to 93
for Account. The New Three-and-a-Quarter per Cents.
have been 921 to 921, and the Three per Cent. An-
nuities 911 to 1. Bank Stock is firm at 197, and India
Stock at 257. Exchequer-bills are 425. to 455., and
India Bonds 81s. to 82s. premium.
Business in the Foreign Market has been extremely
quiet. Spanish Five per Cents. are 161, and the Three
per Cents. 34k. Portuguese Four per Cents. are marked
33. Mexican Bonds are flat at 261 i; and Peruvian
have been marked 521 to 53. Dutch Two-and-a-Half
per Cents. are 531.
In Railway Shares there has not been much doing,
but prices are firmly maintained in all cases, and there
are several instances of an advance, and especially we
may note Great Western, &c.
THREE O'CLOCK.
Consols are now 921 to 93 for Money, and 93 to for
Account.

ONE O'CLOCK.

chrsl, G
r!Crs or ,tR I TIS II FUNDS PRICES.
Bank Stock
3 . e- Cent. Reduced Arms.— 9ll/ %.3,f, 91%
3 per Cent. Consols Annuities 904, 93 931-A
New 3% per Cent. Anna....... 92%143/4 93
Long Anns. to expire Jan.lB6o -16 8% 8%
Ditto, 30 years, Oct. 10. 1859 8 3-16 8 81/a
Ditto 30 year, Jan. 5, 1860 —8%
[ndia Stock
i n die Bonds, 1,000/.', Bl 82 p 82 p
Ditto under:l,oool... ......
Consuls for Account 9234 % 93 9318
Exchequer Bills. 1340. & 2d
1,0001. June 44 45 42 p
500/. June
Small. June 44 45 p
PRICES OF FOREIGN FUNDS ONE
O'CLOCK.

42 p
45 p
42 p
CLOSIN 0
PRICES.
Brazilian Bonds
iCexican, 5 per Cent. 1846, with Coupons—
Ditto, Ex Jan. Coupons ...
Ditto, Account ... ............ 2614 261
Peruvian Bonds, 4 per Cent
Ditto, Deferred
Portuguese 5 per Cents.
Ditto, 4 per Cent.
Ditto, Small
Russian Bonds
1 ipanish 5 per Cent. 1840 1634 163%
Ditto. 3 per Cent
. .

Divklends on the above payable in London.
Beligan, 41,4 per Cent.

$ 8 th

Dina 2% per Cent., 12 Guild. .. 53% 53%
Ditto. 4 per Cent Certificates... 82%.5,‘ 82%
PRICES OF PAID. BUSINESS DONE CLOSING
RAILWAY SHARES. AT ONE O'CLOcIC. PRICE'.
Aberdeen
Do. Preference
Amber. Nott., Bosten,
and Eastern Junction 6 -
Ayrshire and Galloway.. 7%
Belfast & County Down 26%......
Berks & Hants Extens.
(Gt. West. Per.s per ct.) 6
Birmingham and Ox-
ford Junct., calls duly
paid, or with a guaran. 20
no, 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 131. 14s ... •••
Birkenhead, Lancashire,
and Cheshire June.— 20
Boston, Stamfd & Birm. 71. 4s.
Bristol and Exeter 9O ......
Ditto, Thirds ...
t'luckinghamshire ...... 17% -.. ......
Caledonian
Ditto, New 101. Prof... 10
Ditto,Clydesdale June 50 —
Che3ter and Holyhead... 50 ...... •••
Ditto, Preference ls
Clarence
Do. Ist Class, 6 per Ct. 10
• Do. 2d Class, 5 per Ct. 10
Do. Government Loan,
4 per Cent. -
Direct London & Ports-
month
Dublin and Belfast June. 40 ......
Dundalk & Enniskillen 27%
East Anglian, 251.,L.15c
E. and L. and D...... 25 ......
Do. 18/., E. & H.... 18
Do., 3/. 10s., Pref... 3% ....
Eastern Counties........ 20 ...... ...... -- .“ 7%
Do. New, Gua.6 per ct. 10 ......
Ditto,Extension, 5 per
Cent., No.l 61.135. 4d.... % p.m .......... % p.m.
Ditto ditto, No. 2...61. 13s. 4d... par ... ..... park
Do. North. & Eastern,
6 per Cent.
Ditto. 5 per Cent.... 50
Do. New 43 —
Eastern Union, Class A
(late E. U. Shares) 25 -
Ditto, Clam A, ditto... 8% -
.-

13%
8%

Do., Class B (I. & B.) 25 —
Ditto, Class C, ditto... 25 . .... 44
Do. Scrip (6p .vent.) 20 ...... 17,4 . .
East Lancashire 25
Ditto, New
Ditto, New Quarters 6'4
Do., 6 per Cent. Pre-
ference Quarters ... 61..„
East Lincolnshire ...... 25
Edinburgh and Glasgow 50 ..- 32 SO% 3114 i...
Ditto, Half Shares ... 25 ..
......
Edinburgaand Northern 25
Ditto, Newport
Exeter•Yeovil, & Dorch 25,a —
Exeter and Exmouth... 21s.
Glasgow, Dumfries, and
Carlisle ....... ••• -81.65. &L...
Glasgow,Kilmar.,& Ayr 50 .....
Do. Preference Consol.
GreatNorthem
Do., % A Deferred ... 12%......
Do., 4B 6 per Cent... 7% —
Do., 5 per Cent. Pref. 7% 5
;real South. and West.
(Ireland)
:rest North of England 100 ...... •-•
Ditto, New, 40/ 4O
Ditto, ditto
Ditto, New, 30/ 3O
Ditto, New ,15/... ...... 15 .. ..
Great Western 100
Ditto, 34 Shares
.... "
Ditto, 14 Shares
Ditto, Fifths .....
Ditto. New 171.....,.. 15 ... - 7 .... .....
Hull and Selby .. ...... tivo ...... 90
Ditto, Half Shares ... 25 ......
Do. Quarter Shares... 12% —
Lancaster and Carlisle... 50
Ditto, Thirds
Lancashire & Yorkshireloo —
Do. do. M. B. Et 8... 96 ...... ......... .
Ditto, ditto .
Ditto, 4 Shares ...- 49 ... ..
Do. Quarters
Do. Fifths...
Do. Thirds ....... ...... . 16 %.....
Do. New Guaranteed
6 per Cent. .••• ...... 10 .••••• —•..••••.••-••••
Do. Liverp. and Bury 49
Ditto (Huddersfield
and Sheff.) SO
Do. (W. Riding Union) 9 .. ...
Do. (Preston & Wyre) 25
Do. 4 Shares (A)... 10
Leeds and Bradford 5O ...... ..•
Leeds and Thirsk ...... 50
Do., Prefer., 6 per Ct. 5 ••••••
Do., Pref. Quar., 1813 9
Liverpool, Crosby and
Southport lO
London &Blackwall...ll/. 6s. 3d... 31,4%
London, Brighton, and
South Coast... .....100
Do., New Si., guaran-
teed 6 per Cent..... 100
Do.Gu grant. 5 per et.. 9
Do. Prefer. 5 percent. 50
Ditto. ditto lt e,2 50 ~ „„,
London and Greenwich 12/15s 4d... ........ .
Ditto, Preference .. . 20 .....
London and N. Western 100
Ditto, New Quarters.. 12 ...... 12%.
Ditto,Fift--‘• ..... . ..... 7 .- .. 8% 9
Do. 40/.Sh ares(L.M.) 35 —
Do. 101. (M. & B.) C. 1 ...,..
Lond.& S. Western ..... 50 . .
Ditto, New 50/. ...... 424......
Do. New 40/. .. 34
Do. New Scrip, 1848,
Pref. 7 per Cent. .. 5 - ..... ••••••••• •
Londonderry &Coleraine 25
Do. 1/2 Shares ... 5
........ •••..
Londonderry and Ennis-
killen 25 ......
Do. ;i, Shares 5 ......
Lowestoff. guar. 4 per et 20 ......
Ditto (6 per ct.)
Manchester,Buxton,and
Matlock
Manchester, Sheffield,
and Lincolnshire 100
Do. Quarters (No. 1) 23
Ditto ditto (No. 2)... 25
D 0.% Shares (No. 3) 12%
...
Do. New 10/. Pref..... 10 .....
Ditto, Gt. Grimsby ... 50
Ditto ditto . •••-„••• 19
Ditto ditto
Ditto Sheffield and
Lincolnshire 22%. ... .-- •
Do., Grimsby Dock... 25 ...
Do. Manchester and
Lincoln Union..... 41.25. —
Midland
Do. Consolidated Pref.loo
Do., do., 501. Shares 30 ...
Do. Birm., and Derby 100
Do. Consol. Bristol and
Birming., 6 per ct.... 100 .122 ...
Ditto, Brist. & Glocstr. 42 ...... ..... „.... ...
Ditto ditto: .221. 75......
Do.,ErewashVal.,Pref. 50
Ditto, Leieest.& Swan-
nington, 8 per ct.guar.loo
Midland Great Western
Irish
Middlesbro' and Redcar,
6 per cent. guar.
Newcastle and Carlisle.loo ~.....
Do. Quarters
Newmarket ...... ..... . 23 -
Do. Extension V. 125....
Newport, Abergavenny,
and Hereford 6 ..-..
Newry and Enniskillen 7
Newry, Warrenpoint,
and Rostrevor
Norfolk .......... ....... ....100
Do. New 201.
Do. Guaranteed 5 pet. 20
Do. Guaranteed 54pc. 5
Do. do. Waveney Val. 2
Northern Counties Union 4 ..., — .44
Korth British •••••••• ••• 25 .••• . 11 4 •.• ••••• .....
Ditto, Halves ..
Ditto, Quarters
Ditto, Thirds
Ditto Preference -
North Staffordshire ... 174 9%%
North Wales . 3% —
....
North-Western . 13%......
Oxford, Worcester, and
Wolverhampton
Reading, Guildford, and
Reigate
Scottish Central
Scottish Midland
Ditto, New - ....• ...
Shrewsbury and Bias... 12 ......
Ditto ditto. Class B. 8
Ditto, New Guaranteed 8
Shrewsbury and Herefd. 4
Shrewsbury & Chester
(Nor. W. Min.)
Ditto Halves ... ditto 9 ..-..
Ditto Oswestry ...... 184 —
Ditto New
Do. 8 per Cent. Pref lO —
Shropshire Union
South Devon 50
Do. Preference
South Staffordshire B% —
.. •••
So.AtifEastern
Do., N 0.2.
Do., No. 3 ....... ...... 30
Do., Registered No. 4 10
Do.,
Scrip No 4 ...... 10
......
South 11- ales
South Yorkshire, Don-
caster, and Goole l2
Sheffield, Rotherham, &
Goole (N. Div.) Gua-
ranteed 5 per cent. :... 16% —:
Do. do (Sou. Div.) ... 5 ...... c
Swans. & Loughor & Ca-
meron's Stm. Coal. ... 7
Paw Vale Extension ... 8
flames Haven Dock •••
and Railway
Vale of Ncath ... .. . 8
Waterford and Kilkenny 20
Waterford and Limerick 47%
Waterfd,Wxfrd,Wicklw
and Dublin
3 ...• •
Wear Valley 6 per Cent.
Guaranteed ... .. 5O ...... ....
Do. do. do. ... 25
Do. do. d 0.... 15 .....
West Cornwall
W hitehaveu & Furness 16
Windsor, Staines, and
South Western..... ... 14 ......
Wilts, Somerset,& Wey-
mouth 45 —
York, Newcastle, and
Berwick. .... ..- ....... 25
Do. Newcastle Exton. 20 ...... 11,e 4.....,
Do. G.N.E.Preference 8 ....• 231
Do. Hartlepool Dock
and Railway 100 ...... --
•-•••• ...... ...
York and North Midland 50
D.ue Prefe; e:e.A:
FOREIGN RAILWAYb.
Anglo Italian (late Ita-
lian and Austrian). ... 5%......
Boulogne and Amiens... 20
Central of France (Or-
leans and Vierzon)... 20
Demerara ...... . ..... ...... MA...-.
Dutch Rhenish ......... 8 ... ..
East Indian ....." 314 — ......... .... . -"
Great Indian Peninsular o
Do. Do. ... ...... 10e•
Louvain sk la Sambre ... 7% — --
Luxembourg
Ditto ..•
Madrid and Valentia... 2 .....
Namur and Liege ...... 20 .„
Orleans and Bordeaux.. 7a. 3
Paris and Orleans ...... 20 ..... ...... .. --
Paris and Rouen 2O ...... --
Paris and Strasbourg ... 11
Rouen and Havre ...... 20 :....., - s•d
Sambre and Meuse ...... 20 —.•.--
Strasbourg and Basle ... 14
Tours and Nantes ll ......
Tourney, Jurbise, Lan.
den, and Hassell... —-. 20
West Flanders ..... - ..... Bs/ —
Ditto ... ........ .... ..... 8% —

4 lit
174

31%

71/2
4Wi
5

11%
11
74
91
44%

12L
3%
5%

••••
2M

3%
721 A

-
93i

11514
12%

47%

11%
24
34
5
9%

1014
15%
4

45

18,4

1734
11%
231

20
6

..-bIA
11%

--141

JOINT STOCK BANKS.
Australasia
British North American 50
Colonial
Commercial of London 20 -
London Joint 5t0ck...... 10 ...... 17104 I7X
London & Westminster. 20
National Prov. England. 35
Ditto New... ........... 10
National of Ireland 224....... .... ....... ....
Provincial of Ireland
c.o.
Ditto, New ..... ..... 10
Union of Australia
...
Ditto,New.... ..... .. ••• 21h•••••• •
Union of L0nd0n......... 10 ...... ...
Union of Madrid 40

MINES.
Anglo-Mexican lOO ...... ...... ...... : . 4.--
6
Asturian Mining Com 15 -

4 6%....
AUnattxtali AlanMl.,4ll 28%