The Sun.
London, England, 1841-10-11 00:00:00

PRICE 5d

0 HEY MARKET and CITY NEWS

FROM THY; MORNING PAIII.:Kg (►F THIS DAY.
. _

TIMES.—The American intelligence 11115 read with a
great deal of interest in the city this morning, and the
conjectures as to the final result of the M'Leod question
were various and uncertain. At present °pillion secrns
to lean against the continuation of friendly relations
between this country and the United States, and this
opin :on having extended itself to the Consol Market, it
bore, in the early hours of business, an unhealthy appear-
ance. But it was not till some heavy sales were made,
and, as it is supposed, in a quiet and covert manner, that
the effect was perceptibly, to the full extent. Towards the
dime of business the decline became so , rapid that the
maritet %ran seised with panic symptoms, and, while the
fall in the value of cdngqi, .7 be estimated at I per cent.
the jobbers are in a state of uncertainty as to the real
position of affairs, making quotations which are not to
be considered strictly accurate. Such a movement
as this having been of late a rare occurrence, the
most experienced of the dealers are at a loss to divine
the real cause which produced a fall so momentous,
since, although a general gloom could_ be accounted for

by the nature of the American intelligence, followed by
the operation of those in the American interest, that
seems to them hardly sufficient to account for this sudden
decline, The speculators for the fall of course took the
opportunity of forWardlng their objects, when they per-
ceived the weakness of the market, but without they
brought a very strong force to bear upon it, the origin
of the movement can scarcely be supposed to lie with
them. These were the facts and Opinions that presented
themselves at the moment to the minds of those who
have the opportunity of judging of such matters there,
but such was the agitated state of all interested, that it
was difficult to arrive at any fixed view, especially as the
sudden run came upon the market shortly before its
close. when naturally enough each was occupied with his
own individual interost, •

. POST.—The fall in Consols wild other permanent
Stocks was ascribed to various causes. ships of war
were said to have been ordered to different parts of the
world for the purpose of protecting the national interests.
Anierica and the ecuthern edliSt of Spun were the
points more especially named as giring occasion just now
fi- the vigilance of our cruisers; the near approach of
the trial of Mr. M'Leod forming, however, the promi-
nent ground of uneasiness., The Chinese war has not,
of course. been overlooked, since it is in all probability
giviog rises or about to do so, to an expenditure not
heretofore contemplated. The revenue, too, for
the quarter ending this day, was spoken of in
the early part of the morning in terms of discou-
ragement that were not borne out by the intimatim.a
contained in the Evening Papers. By some the fall was
attributed to the late Government operation. Many per-
sons subscribed to the new funding measure with the
view simply of obtaining the bonus granted by the Chan-
cellor of the Exchequer, which was estimated at to
per cent. In order to secure this small advantage, the
subscribers, having given in their pledges at the Bank,
immediately sold Stock to the amount subscribed,
for the Account ; and, as the newly-created security is
to he delivered on Wednesday next, it- is supposed the
parties who purchased Stock for time are unable to
pay for it, which produces what is technically called
a large Bull account. It is in Our recollection that
a fell occurred upon the occasion of the last
funding, in 1839, of about 2 per cent. This was
about ten days or a fortnight after the close of the then
account. The settlement of differences does not take
place till Thursday next, but, according to the practice
of the Stock Exchange, this was the first reading-day of
the accoxnt, on which the actual state of it, and the
ability of parties to meet their engagements, are pretty
well ascertained. These circumstances connected with
the house my explain in part, if not wholly, the fall we
have noticed, as there is no doubt that many persons
made purchases in the expectation that a great demand
would arise for the new Stock to enable them to realise
an advance. But, as the subscription far the five mil.
lions contemplated to be raised was not filled up, many
of the subscribers are left with the Stock on hand at a
depreciated vale.