The Sun.
London, England, 1847-05-11 00:00:00

MONEY and COMMERCIAL NEWS..
CITY, QUARTER TO THREE.
The market for Cotton at Liverpool continued dull,
the demand being very limited, and prices unchanged.
Sales about 4,000 bales, and included 3,000 American at
60. and 71(1., 350 Egyptian at 7d, to 9d., and 300
Surat at aid. to 4d. The Share Market presented
a very gloomy appearance, with a general falling off in
prices.
The influx of bullion which has set in since this day
week, and probably will be for some time continued,
may make a difference in the feelings recently enter-
tained by the holders of the new scrip. They are
chiefly rich firms in London and in Paris. It was stated
last week by Lord John Russell, as our Parliamentary
report showed, that about 400,0001. in specie and bars
came in during a few days.
Discounts, although easier, continue high. Bills that
could very readily be " done" three or four months back
at 4 per cent., with 1 per cent. commission are now sus-
piciously looked at, though 10 per cent, has been offered,
with a commission of 2 per cent, It is the opinion of
many of the principal men of the City, that next will
really bring with it a considerable improvement in all
circles. The growing crops look well, and the deliveries
of colonial and of foreign produce (though it may be
from hand to mouth, as the term is, or in other words,
to meet only pressing demands) are steady. These are
very important elements in the consideration of the
stability of trade, and beacons which hold out the hope
that brighter times are not far off.
Many have been the fluctuations in the funded and
unfunded debt lately. As corn rose Consols occasionally
receded. Yet the closing price of the Three per Cents.
was yesterday but 1 to 11 per cent, under the highest
value of last week. Wheat, upon the extreme values,
may be, however, said to be full 95. to 10s. per quarter
dearer than on this day week. The purchases of stock
lately have been comparativeiy small, but the holders
have shown little anxiety to get out. The deposits in
in the savings' banks are represented as being upon the
increase. Bank Stock has fallen, though the profits of
the Corporation have of late very considerably in-
creased.
At a meeting held recently in Birmingham, upon the
subject of the present extraordinary tightness in the
Money-market, it was stated by one speaker, " that the
object of the Birmingham economists was to keep the
means of distribution steady in quantity and value; and
that any pressure which might come should be thrown,
not on this circulating medium, but on the accumulated
mass of the country's wealth, of which there was enough
to sustain any pressure for any number of years. At the
present time, the population has to pay a higher price
for food of all kinds, and taxes consequently press more
heavily upon it. We want, in consequence, more money;
but Sir Robert Peel's Act come in and says, ' Because
you want more money you shall have less.' Under the
system proposed in Birmingham, the amount of money
would not at any rate be reduced. Of course, when there
was a bad harvest there must be a pressure—this no
system of currency could prevent; but the pressure would
not be aggravated by a contracted amount of money.
Let them look at the condition in which the present
system of currency had placed the country. A great
quantity of corn had been imported from America, and
bills representing this corn had been sent over accom-
panied with orders for English manufactures. These
bills were refused to be discounted, and the consequence
was that the manufacturer could not execute his orders,
and the workman was thus deprived of employment, at
the very time when he needed fuller employment than at
any other period, and thus goods that would help to
rectify the exchanges could not be produced. He drew a
parallel between the present and the previous systems.
observing that under the system of 1819 the Bank
would have let the gold go to rectify the exehanges ;
but the present system kept a quantity of gold locked
up, of which neither this country nor any other had the
use."
Now, although we are not "Brummagem" ourselves,
we do feel that the speaker cited above is right in his
conclusions as to the necessity of relieving the pressure,
and we conceive that it is manifestly unwise to adhere
to a " principle " when it is found not to meet the de-
sired end.
There has not been much doing to-day in the Stock
Market, but prices are higher, and with an appearance
of firmness. Consols have risen from 86/ to 86k for
Money, and from 861 to 87 for Account. The New
Three-and-a Quarter per Cents. have been 861 to 87k.
Exchequer-bills have risen to 2s. and 6s. premium. The
abandonment of opposition in the Lords to the Poor• law
(Ireland) Bill, and the prospect of the speedy formation
of a new Ministry in France, have strengthened Consols.
The Foreign Bonds have exhibited but little buoyancy.
Spanish Three per Cents. have been 33 and the Five
per Cents. 22. Portuguese Four per Cents, have been
quoted 34. Brazilian New Stock of 1843, has been at
82k. Venezuela Bonds are 38. Dutch Four per Cents.
are 7i -73-. •
Shares are heavy.
BRITISH FUNDS THIS DAY AT ONE O'CLOCK.
(From the Official List.)
Three per Cent. Reduced Annuities .. 85636(
Three per Cent. Consols Annuities • • • • 86% %
New Three-and-a-Quarter per Cent. Anns. 86% 87% sax
Consols for May 27 .. .. • . 86% 87 86%
Exctequer Bills. d. 2d.
1,000/. .. 62 5p
500/. .. •• 67 p
Ditto. Small • • • • ...• 74p
PRICES OF FOREIGN FUNDS AT ONE O'CLOCK.
Brazilian Bonds, 5 per Cent • • •
Ditto, New, 1843 .• 82%
Danish Bonds, 3 per Cent .. 831
Equador Bonds • • • • • • • .. 2% %
Portuguese Four per Cent .. 34
Russian Bonds, 5 per Cent .. 108% 109%
Spanish Bonds, 5 per Cent. .. • • 22
Ditto, Three per Cent .. 33%
Venezuela Bonds, 2 per Cent .. 38
Dividends on the above payable in• London.
Dutch Two-and-a-Half per Cents. 57% %
Ditto. 4 per Cent. Certificates .. 87% %
BUSINESS DONE IN RAILWAY SHARES AT ONE O'CLOCK
RAILWAYS. PAID. PER SHARE.
Aberdeen • • • • • • • • • •• 30 •••• 24 .... to
Birmingham and Oxford Junction .. 10•• 16% .... to
Birmingham, Wolver., and Dudley .. 5
.... to
Boston, Stamford, and Birmingham •• 5 5
Buckinghamshire •• •• ••61.45..... 11,4 dig. to
Eastern Counties • • • • •• • • • • 20 18% %• • to ~
DP,to, York Extension . - • • • • 61% .... 4%14.. to
Eastern Union • • • • •• • • • • 40 •• • • 54 .... to—
East Lancashire • • • • • • • • .. 17 to
Ditto, New .. • • • • • • • • • • 7% • . to
Ditto, ditto, New Scrip • • • • •• .... 1 .• .. to
Edinburgh and Glasgow • • • • •• 50 .... 68% .... to 69%
Ely and Huntingdon • • • • • • • 15 14% to
Great Northern .. • • • • • • .. 3%.... 2%3414 to
Great North of England • • • • • • 100 ....230 to
Great Western •• •• •• •• .• 85 .... to—
Ditto. Half Shares • • • • • • • • 50 .... 64% to
Ditto, Quarter Shares • • • • • • 12% .... 16 .... to 15%
Ditto, Fifths • • • • • • • • • • 20 .... 24%.. • • to
Ditto, New • • • • • • • • .. .... 7 .... to
Ipswich ard Bury St. Edmunds .. 14 .... 9 .. • . to
Lancaster and Carlisle .. •• .. 50 .... 59% .... to
Leeds and Bradford .. 40 83% to
Leeds and Tliirsk • • • • • • .. 22% .... 20%.... is 19%
LLotooon,ord gshotto.nit„.lrvnedsiSeoruoth
.• 100
•i•
0500 -..127517.0;4. t 0
00 .11%
Ditto, Quarters .. • • L. and B. 7 .... ...• to
Ditto ditto New .. •• • • • 2 .... 11 .... to
Ditto, Fifths •• •• •• •• •• 2 •••• 151,( to
Ditto, 40/. Shares • • M. and B. .. 40 .... 65 .... to
Ditto, 101. Shares .. M. and B. (A) 5 10 .... to
Ditto, 10/. Shares .. M. and B. (II) 5 .... 10 .... to
London ard South-Western 411.6.. 10d. 59% 601% 59% to 60%
Ditto, New • • • • • • • • • 22 .• •. 21 .• • • to
Ditto, Tenths (Consolidated) • • • • 50 .... 51% .. • • to
Ditto, Scrip .. • • • • • • • • 5 • • 4% %• • to
Ditto, ditto • • • • • • • • • • • 4 .... .... to
Manchester and Leeds • • • • • 82 .... •• .. to
Ditto, Thirds (Reg.) • • • • • • 71. 45..... % p.... to
litanehester, Buxton, and Matlock ,• 425. .... % dig.... to
Manchester and Southampton .. • . 2 ...• %-•• • to
Midland •• •• •• •• •• ••100 —113% 112% to 113
Ditto, New .• • • • • • . 36 •• • • 38% to
Ditto, New .. .. • . .. 6 .. • • 7% 54 • • to
Midland Great Western (Irish) .. 25 .... 1 1 .... to
Newcastle and Berwick 20 .... 24% .... to
Ditto, New . •• • • • . .. 5 •• • • 636%•• to
Nortolk .• • • .. _lOO . ..121 .. • . to
North British 30% %.. to
Ditto, Half Shares 12% 13% • . • • to
Ditto, Quarters • • • • .. „. 2% •• .. 3 •• . • to
Ditto, Extension • • • • •• %•• • • %.••• to 1
North Staffordshire • • • • • • • • 714 .. • • 9%• • • • to 9
Ditto, Scrip (late Churnet & Illy Hie) 2 .... 2%.... to
Preston and Wyre • • • • •• •• • • 25 .... 35 .... to
' Ditto, Half Shares (A) .. 8%.... 11% •..to
Ditto, ditto (B) 1%...• to—
Royston and Ilitchin . • .• .. .... 138% . • to
Scotlish Central .. • . • . .• • • 171% .. •• 23 •• to
south Eastern and Dover .. •. •.331.2x. 4d. ••.• to
Ditto, New (iss. at 32/0 No. 1 •20 .... 20 . to
Ditto, New (do. 30/.) No. 3 .• .. 15 •• • • 14% •• • . to
Ditto, New (do. 1514 No. 4 . • •• 5 •• •• 4%.7.4 to
South Wales .. .• • • •• •• •• 10 •• • • 6% 7.. to 6%
South Yorkshire. Doncaster, & Goole 2 •• •• •... to
West Riding Union . .• 4/. 25..... % p.. to par
York and Newcastle . •• • • 25 .. • • •• • • to
Ditto, New .. .. 10 •• • • 13%•• •.. to 14
Ditto, Preference • • • • • • • • 4 .. • • 6%16 .. to
York and North Midland .. .. 50 .... 8136 .... to
Ditto, Extension 25 .... 40 .. • • to
Ditto, Preference • • • • • • • • 2 •• 9% 10 9% to 10
Ditto East and West Riding Extension 10 .• 19,4 .... to
FOREIGN RAIL WAYS.
20 •••• 15%••., to 16
Boulogne and Amiens • • • • • •
Dutch Rhenish • • • •
•• 7
•
Luxembourg .. •• 60
•• •••
1
Namur and Liege • • • • ' • • 8 11% .. to
Nur them of France .. '• • • • • 8 .. •• to
Paris and Lyons •• ••

JOINT-STOCK BANKS.
Provincial of Ireland .. 25 .• .. 44% .... to
MINES
Real del Monte. Unregistered .. • • •• " 34 • to

LLOYD'S SHIPPIN (x--(THIS DAY.)
LONDON, MAY 11. Wind N.W., fresh breeze, and dull
hazy weather.
DEAL, MAY 10.—Wind S.W. to S.S.W., moderate.—Arrd.
Orator, Homan, Calcutta ; Cicerea, Rio Grande ; Beta, Ha.
vannah. Sld. Sappho, China; Jamaica, Antigua; Anna
Eliza, St. Domingo; Crcole and Patriot, Dominica; Ada,
Fantorne, and New Plicenix, Jamaica. Arrd. from the River,
Hashemy, Port Philip; Eclipse, Mauritius.
OFF WEYMOUTH, MAY 10. Halifax packet, Laun-
ceston.
PLYMOUTU, MAY 10.—Wind S.W.—Sid. Elizabeth and
Mary, Quebec.
BRISTOL, MAT 10.—Wind S.S.W.—SId. Clara, Jamaica;
Maria, Barbadoes ; Miranda, Cape de Verds.
LIVERPOOL, MAY 10.—Wind S. W., moderate.—Arrd.
Huma, Fulford, Malaga, with loss of bowsprit, deck stove,
and one man killed, from contact with a ship 6th instant, off
Scilly. Sid. 8, Nuevo, Angel, Havannah ; Cockermonth
Castle, Montreal; Bezink , Reece, and George Sutton, New-
foundland. 10, Mary, Africa; Belinda, Callao; Jamaica,
Bahia; Elizabeth, Wood, Barbadoes ; Scaper. and Luisa and
Jesusa, Havannah ; •Bavaria, New York ; Rover, Yarmouth,
Nova Scotia. Off port, Favourite, Barbadoes ; Flint, New
Orleans ; Firefly, Irt, Zion, Themis, G.,,Dean, Mary Hartley,
Scotia, and Devon, ,
WATERFORD, .MAY 9.—Wind S.S.W. to W.S.W.—SId.
Hannah, Thornton, New York; Eagle, Boston, Defender,
Quebec.
OFF DUNGENESS, MAY 7.—Victor, Steffens, Rio Janeiro,
for Hamburgh
I
; Oud Nederland, D Boer Batavia, for Rot-
terdam.

CORK, Zoir 8. —arid. Hindley, Shaw,
Mauritius. SI& -iWin esterly
r
d w York; Lord Sandon,
Quebec. et Trader, New
KINSALE, IVAT B..._,wmci
,5 E
. ,E .--
Arrd. Caroline, Stewart,
Valparaiso.