The Sun.
London, England, 1846-06-16 00:00:00

MONEY and COMMERCIAL NEWS
CITY, QUARTER TO THREE.
The sales of Cotton at Liverpool yesterday were about
5,000 bales. The market was dull, and prices were a point
in favour of buyers. The business consisted principally of
American, at 3%d. to 514 d ; 50 Bahia, at 6d. ; 150 Egyptian,
at 51(2,d. ; and 50 Sea Island, at ls. to 6d.
The probability of the Canadian railways being suspended,
in "insequence of the unsettled state of our relations with
America, upon the Oregon question, must be a source of
anxious solicitude with those interested in the prosperity of
our important colonies. It is certain that, as a Toronto
writer upon this subject very justly remarks, the construction
of the Quebec and Halifax Railway is necessary to secure the
completion of all, or any of our Western lines. It is the only
thing which will give them a British tendency and thoroughly
interest British capitalists in their favour. At present the
calculations of the Great Western and Toronto and Lake
Huron Companies are founded chiefly upon the amount of
American traffic which will be secured to these routes. The
provincial business is not indeed lost sight of, but it is
brought in as secondary to the advantage which would be
derived from the travelling propensities of our neighbours.
" Such being the case, everything is at a stand-still, and
will continue so until the Oregon question is settled, and
the more threatening disturbance with Mexico put to rest.
'We understand that the last letters from London to the
Great Western Company were, that the proprietors in Lon-
don would carry it through at whatever cost whenever the
war movement at Washington was a little quieted ; and we
see by the packets of the 19th April that its stock had ad-
vanced another 2s. 6d., having risen to 41. per share. What
our Toronto and Lake Huron Company are about we do not
know :

" We make these observations because we think that, how-
ever much an embroilment with the United States may
affect the temporary and present repaying power of a
Central Canadian Railway, it has little to do with its suc-
cess in the long run. American traffic cannot be de-
pended upon, but a successive increase of our own is cer.
tain. We make them because we think that the
nature of our lines through this western province
has been put in a false position in England, and that
except in entailing an additional expense, a war with
our neighbours has little to do with their success. Such an
event would raise the price of labour, and consequently in-
crease the cost of construction, but it would also stimulate
internal trade. Our people got rich during the last war, the
farms were better stocked, and the merchants' shops
better supplied at the end of it than when it began. This
is not a manufacturing or a speculating country to be
beggared by such an occurrence—the only evil which it
could do us would be that vague fears and a high rate of pas
sage money would diminish immigration."
The funds have been very quiet this morning, but upon
the whole are firmer, owing to the favourable appearances in
Parliament for the passing of the Corn Bill. The advance
in wheat, however, is considered to indicate a disposition to
regard the weather as somewhat too dry, though foreign
orders for shipment hence to Belgium are likewise alleged as
a cause, and this may influence the funds. Consols for the
Account have been 9514. Exchequer-bills of 1,000/. have
realised lls. premium. The New Three-and-a-Quarter per
Cents. have been 96% to 97, and the Three per Cents. 95
to %. Bank Stock has improved to 205% and 206%.
The Foreign Bonds have been heavy except as regards
Portuguese, which have improved on account of favourable
advices of June 7 from Lisbon, received by a Russian man-of.
war arrived at Portsmouth. The Three per Cents. have
been 48%, and the Four per Cents. 481/2 to 49%. Spanish
Five per Cents, have been quoted 24 to 14, and the Three per
Cents. 36% to 37. Mexican are dull at 28 to 14, and
Grenada at 20% to 20%.
Railway Shares move uniformly, to a great extent, with
our own securities, being neither very lively in demand nor
buoyant in price, and Yet, at the same time, not depressed.
'BRITISH FUNDS. ONE CLOSING
O'CLOCK. PRICES.
Bank Stock .. 205% 206% 206%
Three per Cent. Reduced Annuities 95% 95
New Three-and-a-Quarter per Cent. Anus. 96A 97 97
Long Annuities, Expire Jan. 5,1860 .. 10% % 10%
India Bonds, 1,0001. .. 26 20
Ditto, under 1,000/. .
South Sea Stock ..
Ditto. Old Annuities
Consols for Opening

Exchequer Bills.
1,0001... ..
5001... ..
Ditto. Small

95q
1N d • .116d.
••
...