The Sun.
London, England, 1846-05-08 00:00:00

MONEY and COMMERCIAL NEWS.
CITY, QUARTER TO THREE.
•

The Cotton market at Liverpool yesterday was steady;
about 6,000 bales were sold, including 1,000 on speculation.
Prices were without alteration. The Share market was flat
is the early part of the day, but became more active, and
closed with some improvement.

The Share Market was rather dull to-day, but still a con-
siderable amount of business wins done. At the auction sale
of Messrs. Wickham and Co. a vast number of shares were
disposed of, but the prices realised showed a great depres-
sion. We select a few quotations. North British, Half
Shares, 178s.—Manchester and Southampton, 355. 6d.—West
Riding Union, 102s.—London and South Essex, 30s. 6d.—
London and Manchester, Rastrick's, 68s.—Ambergate, Not-
tingham, and Boston, 36s.—Rugby, Warwick, and Wor-
cester, 17s. 6d.—Eastern Counties, New, 16s. 3d.
An article appears in our Morning Contenaparary (the
Times), which requires a remark or two, in order fairly to set
a question at rest with respect to the probable influence
upon the money market, by the Bills for new railways
which will no doubt be sanctioned in the present session of
Parliament. It is stated in a leader this morning that
Bills are likely to pass, representing a capital of
40,000,000/ sterling, and an inference from this is drawn
that of necessity the money market must be cramped,
and the energies of the country impeded by so large a num-
ber of Bills receiving Legislative reality, and, Is a consequence,
were the premises well founded, a strain upon the available
capital of the country. To those who are interested in
advancing new railway projects, it is a matter of
certain calclation that long before millions are spent
in new railways the labourers will receive due
reward for their exertions. and all other•branches connected
therewith,'absorb but temporarily large amounts of money,
which in the ordinary course of things must tend to fructify
and advance the interests of all. It is a pure bugbear to
assume that public or private works within the country can be
a disadvantage to the masses. The abstraction of British
capital in subscribing for foreign loans and mining specula-
tions, have proved a real evil. Money expended;in railways
intended to be formed in this country must be of advantage
to the labourer, the manufacturer, and all the connecting
links of which the community is formed.
A subject connected with:railway scrip has been a matter
of some conversation to-day. It appears forgeries have been
committed to some extent, and that of one projected
lice not less than two thousand shares, or thereabouts, have
found their way into circulation. The Committee of the
Stock Exchange have the matter under their consideration,
and probably may be able to find a remedy against a repetition
of so scandalous a fraud. We 'cannot, however, agree with re-
marks made in some quarters, that the public sales of scrip
and shares, which now so frequently occur, facilitate the cir-
culation of spurious representatives of value. The share-
brokers of the Stock Exchange are naturally jealous of this
great innovation upon what they think their vested rights,
and hence a desire is entertained to throw obloquy upon the
open sales of scrip and shares. _