The Sun.
London, England, 1849-12-19 00:00:00

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
The Cotton Markvt at Liverpool yesterday was dull
and heavy, and Frida) 'a quotations were barely sup•
pcard. The sales did not exceed 2,500 b*les, all to the
Trade Railway Shares were flat, at a further decline in

prices.
The letters end papers from the United States and
Caneda were delivered in due course this morning.
After all the fuss made about the cotton crop, it is evi-
dent that it will even exceed what we have for some
time past assumed that it would be, and that it will
prove adequate to the consumption of the world; but
this does net or should not lessen in the slightest degree
the exertions requisite to cultivate the staple in India.
The day will come when short crops there must be in
the common course of nature, and an extensive failure
would paralyze the whole of cur manufacturing in-
terest. The report before us from New York states:—
" The average date of a killing frost, for fourteen
years past, is the 30th of November. Thus we have
two full weeks over the average date for the growing
season, by throwing off from the calculation all that the
short-crop writers claim as last in the spring,' which
we think ample. It is known that the picking season
extends up to the planting season ; and that in conse-
quence of the low prices ruling in February and March
of 1847 and 1848, at least 900,000 bales were left un
picked in the fields, and ploughed down. Now, at
high prices, every thing will be picked out, and if we
have a dry winter and an absence of storms, we do not
see a limit to the crop much under 2,700,000 bales.
This may be a startling assertion to such as have
been operating on the short-crop and ' early-frost'
stories; but a little sober reflection will show it is
well grounded. The crop of 1847 would have been
2,850,000 bales, instead of 2,347,000, if present
prices bad ruled that season. Allowing that the bolls do
not yield as much as that year, and that they are not
as numerous on the bush, which is claimed by these
parties, although we do not admit the correctness of
either assertion, we will throw off 150,000 bales for that,
and yet have 2,700,000 bales, provided the picking
lasts to the Ist of April. From that figure our readers
may deduct the days lost by wet weather, and the de-
struction that we shall hear of by hurricanes, &c., and
we think the crop cannot be reduced, by all these con-
tingencies, more than 200,000 to 300,000 bales, which
would place the final yield, with a bad picking season,
at 2,400,000 to 2,500,000 bales, which will be an ample
supply for the consumption of the world, as heavy
fabrics are still a glut, both in England and the United
States, and with fine numbers' the quantity required
will be reduced. To the planters we would say, as
before, sell freely."
Great efforts appear to have been making by manu-
facturers in several of the Northern States, for the pur-
poee of operating on the approaching Congress, in favour
of raising the present tariff of duties on a variety of

staples. -
We learn from Mexico, if the American accounts are
to be relied on, that two changes had occerred in the
Minigry. M. Iturbide had succeeded M. Gutierrez in
the deprtrnent of Finance, and he in turn was succeeded
by Don J. Elorriago.
The English Funds have been extremely quiet this
morning, and on tho whole not quite so good. Consols.
961 tied 961, and now 961 New Three-and-a-
Quarter er Cents. 981 to and Reduced Three per
Cents. 961 to 4. Blek Stock is 202 k to 203. The
premium on Exchcqu.,r-bills has been 525. to 555., and
on East India Bi nds 87s. to 89s. There is no life in the
market. _ _

Foreign Securities are also dull, and Mexican
have fallen upon the uncertainty regarding the issue
of b-morrow's meeting. The great contest will
he upon the attempt to get a new committee
appointed, and this accomplished, it is the very
general opinion the Bonds would rise several per
cent. en that score alone. There are, however, far
more important considerations. The Mexican Debt is
worthy of a separate committee, and undi%ided atten-
tion may bring about most important results. When
once a tangible arrangement is agreed upon, Lord
Palmerston will not be lukewarm in insisting upon its
fulfilment, should there be any backsliding ; and
tho bondholders want such an executive as will
at all times afford them the earliest informa-
tion received from Mexico, or upon any mea-
sures adopted here. Some of the members of
the existing committee are said to be merely nominally
so, seldom
.or ever attending; one or two are particu-
larly active, and they of course carry everything their
own way. A selection of the eligible members, and the
adding of a few energetic individuals to them, would
probably be popular with the bondholders, and not
objectionable to those members of the committee who
no longer care to serve, while the undue ascendancy
of one or two parties would be swamped. Mexican
Bonds opened at 30 to but have declined since to
29i ;41. Spanish Three per Cents. have been 37i to 34,
and the Five per Cents. 19 to it, being a decided rally.
Railway Shares are very dull, and at about former
prices.
BRITISH FUNDS 11118 DAY AT ONE O'CLOCK.
(From the Official List.)

Bank Stock 203 202%
3 per Cent. Reduced Annuities 9614% %
New 314 per Cent. Anus. 953/4 %s%
India Stock —
Do. Bonds, 10001 B7 p
Ditto under 1.0001
Consols for Account ... ........ 96% iii
Exchequer Bills. 1% d. 2d.
March. June.
1,060/.
L 2 65 p
Small — L 2 65 r:
i RICE OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent S3
Mexican Bonds, 18.16, 5 per Cent., Coupons
Ditto Ex Jan. Coupons
Ditto Account
Peruvian Bonds, 4 per Cent —
Ditto Deferred
Spanish Bonds, 5 per Cent,lB4o
Ditto Account 19
Spanish Bonds, 3 per Cent 37%
Dutch 2% per Cent., 12 Guild
BUSINESS DONE IN RAILWAY SHARES AT ONX O'CLOCK
IZAILWATS. PAID. Faa RIAU.
,Lerdeen
Ditto, Preference ei
Irabtr., Notting., Boston, &c. 6% —, .... .to
iyrshire and Gallaway
lic !fast and County Down .. 28 .. ..
3erks and Hants Extension
'Gt. West. Perpet.s per ct.) 6

( ~
cuningnam & Oifordjunct.,
calls duly pd, or with guar. 20 . — to
Do., without a guarantee... 20 ~ ..
3irmingham,Wol.,SL Dudley,
calls duly pd, or with guar. 10 ...•
Do., without a guarantee... 10
Birming., Wol., & Stour Val. 131.143 —
Birkenhead, Lancashire, and
Cheshire Junction..
Bristol and Exeter

—D0., Thirds
Buckinghamshire.. 17% 16;4 to
Caledonian
Ditto, New 101. Preference 10 ...... 6% to
Ditto. Clydesdale Junction 50
.'heater and H01yhead......... 50
Ditto, Preference
larence.
Do., lit Class, 6 per Cent lO
Do., 2d Class, 5 per Cent... 10
Do., Gov. Loan, 4 per Cent. 10
direct Loudon & Portsmouth 514 —
Dublin and Belfast Junction.. 40
Dundalk and Enniskillen ... 27% —
1: ast Anglia, 221. L. & E.,
sad L. & D . 25 ......
Ditto, 1 fil., E. & H lB ... ..
Do, 31. 10s., 6p. Ct. Pref. 3% —
Do, 7f. 175., 7 par Ct. Pre. 2 —
Eastern Counties
Do. New Guarant. 6 per Ct. 10
Do. Exten.,s per ct.ll o. 1,6/.13a. 4d
Do., do N 0.2,6/. 135. 4d... par .. .. to
Do., Northern & Eastern-. 50 — to
Do., 5 per cent. ... 50 . — ...... to
Ditto, New ...... .. 43 . .... ...... to
Es.stern Union, Class A (late
E. U. Shares) .... . . ... .. 25
Ditto, ditto, Class A, ditd.o 6 .
Ditto, do, Class B & C...... 25 .
Ditto Scrip (gua. 6 per ct.) 20
:ast Lancashire ..... ...
Ditto, New ...
Do., New Quarters
Do., 6 per Cent. Preference
Quarter Shares
r:ast Lincolnshire
Edinburgh and Glasgow 5O
Ditto, Half Shares
Edinburgh and Northern ... 25 ......
Ditto, Nev.- p0rt..... l5
Exeter, Yeovil, & Dorchester 2% — ..... to
Exeter and Exmouth...
llasg., Dumfries, & Carlisle-Bi. 63.8 d — .. .... to
'llasgow, Kilmarnock, & Ayr 50 ..„ — ...... to
Do. Preference Consolidated
Gloucester and Dean Forest.. 11
Great Northern
Do. 14 A Deferred ..... ... 12% _•
Do. 14 B 6 per Cent.
Do., b per Cent. Pref.
... to
~it. South. & West. (Ireland) 50
to

;rcat North of England 100 - ..... to -
Ditto, New 404... ...... .. .. 40 - to -
Ditto, ditto
Ditto, New 301. - ...... to -
Ditto, New 151......... l6 ...... - . ... to -
;reat Western 100 ...... 58 ...... to -
Ditto, Half Shares 5O -
Ditto, Quarter Shares 23 -
Ditto, Fifths 2O
Do. New 171 -
[lull and Selby 5O
Ditto, Half Shares .. ...... 25 - . .... to -
Ditto,Quarter Shares 12% - ...... to -
Lancaster and Carlisle-. - ... 50 - -
Do., Thirds - to -
Lmicashire and Yorkshire ...100 ..... - to -
Ditto, ditto -
Ditto Half Shares .. - 49 - -
Ditto Quarters 23 %...... - -
Ditto Fifths lO .... - . .... to -
Ditto,Thirils....~ - -
Do., New Guar. 6 per cent. 10 - -
Do. (Rudders. and Sheff.) 50 - -
Do., West Riding Union-. 10 .... . - -
Do., Preston and Wyre ... 25 ...... - -
Do., do., Half Shares (A) 10 -
Leeds and Bradford -
Leeds and Thirsk ..
Do.,do.,Prefer., 6 per Cent. 3% - ..... to ...
Ditto, ditto... - -
Ditto, ditto ........ No. 3 5 - to -
Do. I'ref. Quarters, 1848... 9 - to -
Liverpool, Crosby, andSouth-
port lO - .. .. to -
Lundon & 81ackwa11......11/. 6s. W.-- - to -
Lend., Bright.,& South Coast 100 •. .. -- to -
Do., New 5/., gua. 6 pr '(.3t.103
Do. Guarauttrd 5 per Cent. 9 . - .. .... to -
De. Preferential, 5 per Ct., 50 - ..... to -
Ditto, ditto 1859 50 ..... - . ..... to -
T,indori and Gr2enwich... 12/.155. 4d... - ...... to -
Ditto Preference - -

London & North Western.....loo lll to 1113/4
Do! Now Quarters.