The Sun.
London, England, 1840-11-21 00:00:00

ever, have the effect of producing an unfavourable feel-
ing towards the loan on the Market ; and although a
transaction for the second instalment, we believe, took
place in it at 1 premium, it has not been much
dealt in ; and as money has been lent to-day, for a
short date, on Exchequer Bills at 6 per cent., it is
not likely that the public will become eager pur-
chasers. At all events we hope not, and we wish
not ; for, under existing circumstances, when the Ex-
changes are so much against us, it is extremely inexpe-
dient to enter into transactions which carry off the pre-
cious metals from the country. We are threatened,
too, with more proposals of the same kind, at a period
when the demands upon our own treasury are increasing.
With a greatly enlarged expenditure, in the face of
a revenue which cannot be looked upon as affording
much encouragement, the present financial year must
be one of serious inconvenience to the Chancellor of the
Exchequer, and he may find himself obliged to appear
as a borrower in the market. The spare money of our
capitalists would surely be better employed in supplying
his wants, in maintaining the credit of our own coun-
try than in supporting that of any foreign Power.

SUN.—To-day we have had an improving market
for the public securities, in consequence of a slight re-
laxation in the pressure for money in the Stock Ex-
change, but chiefly owing to a scarcity of Stock as com-
pared with the demand. Yesterday the rate of interest
on Consols was fully equal to 7 per cent. per annum ;
but at one period to-day there was no difference be-
tween the prices for the 26th instant and for immediate
transfer, and at another time the latter stood per cent.
higher than the former, constituting what is usually
termed a baccadation. The appearance of the project
for the new Belgian Loan might have been reasonably
expected to depress the market, but such we see has
not been the case, for the present at least. The urgent
solicitation of the Austrian Government, that the French
should interpose their good offices with Mehemet AEI,
has served to impart the increased buoyancy.
The current quotations of Consols for present
transfer have been 89* to 89i, and for next Thurs-
day the same. To the next account the con-
tinuation was about per cent. Exchequer
Bills did not get up from par to 2s. discount ; East In-
dia Bonds receded to 16s. and 20s. discount ; Bank
Stock was dull at 160, and India Stock at 239. The
New Three-and-a-Half per Cents. were rather higher,
viz. 981 to 984 ; the Reduced Three-and-a-Half per
Cents. brought 97i to 97t- ; and the Three per Cents.
Reduced, 88 to 88k.
There was a moderate business doing in the Foreign
Bonds, the average prices being about the same as yes-
terday, though in a few instances a shade better. Spa-
nish Active Stock ranged from 23i- to 23i for money,
and from 231 to 23,- for the Account. Portuguese
New Five per Cents. ranged from 35i to 36 ; the
Three per Cents., from 22i to 22a ; Colom-
bian Stock of 1824 was worth 25i to 254 ; and Mexi-
can of 1837, 2971, the former being a shade better, and
the latter without alteration. Belgian Old Five per
Cents. were at a decline from 97417 to 98 and 971 ;
Dutch Two-and-adialf per Cents. were steady at 511
to 51i; French Five per Cents. declined to 109 f. 50c.;
the Three per Cents, were at 78 ; Danish Stock
dropped to 771 to 77.1: ; and Chilian rallied from 55 to
57 and 58. _

For the Railway Shares there was a brisk market ;
but the tendency of prices was not decided. Great
Western Railway Shares were steady at 17 to 19
premium ; the New at 7 premium ; the Fifth at to
44- premium ; the London and Birmingham at 73 ; the
New at 21i ; and the South WesZern at 13 to 142-
premium. Brighton Shares were sold at 131 to 13i ;
Croydon 2".1 to 2 ; Manchester and Birmingham at
12 ; Midland Counties at 291 ; Eastern Counties at
144 to 14i, and the Bristol and Exeter at 254 to
discount. London Joint-Stock Bank Shares were at
,2a premium, and National Bank of Ireland Shares at
1 discount.

The Foreign Exchanges were rather fl tt this after-
noon. Bills on Paris woo taken.at 251.52 c. to 57 c., en
Ain.terdam at 1t 2i to 12 24, on Harr:burgh at 'l3 8
to 13 71, and on Frankfurt at 14Si to 149.